ERC-3525 is a groundbreaking token standard on the Ethereum blockchain, pioneered by Ryan Chow and the Solv Protocol team. This standard defines Semi-Fungible Tokens (SFTs), an innovative evolution beyond the capabilities of traditional fungible and non-fungible tokens.
Table Content:
Before delving into ERC-3525, let’s briefly recap the foundational concepts of ERC token standards within the Ethereum ecosystem. ERC (Ethereum Request for Comments) standards provide guidelines for development on Ethereum, ensuring interoperability between tokens, applications, and smart contracts. While numerous ERC standards exist (ERC-20, ERC-223, ERC-721, ERC-809, etc.), only a few, like ERC-20 (for fungible tokens) and ERC-721 (for non-fungible tokens, or NFTs), have achieved widespread adoption. ERC-3525 builds upon these foundations, addressing limitations and unlocking new possibilities.
Understanding Semi-Fungible Tokens (SFTs)
SFTs bridge the gap between fungible tokens (like ETH or BTC) and non-fungible tokens (NFTs). They possess characteristics of both, initially behaving like fungible tokens, freely exchangeable for others of the same type, but potentially transitioning into a non-fungible state.
semi fungible tokens là gì
Imagine tickets to a sporting event. Before the game, tickets within the same section are interchangeable – fungible. After the event, they become unique mementos, holding individual value based on the specific game and seat – non-fungible. This illustrates the core concept of SFTs.
ERC-3525: Enhancing Functionality and Liquidity
ERC-3525 extends the ERC-721 standard, addressing the limitations of both ERC-20 and ERC-721 tokens. While widely used, ERC-20 tokens lack the rich metadata capabilities of NFTs, and ERC-721 tokens lack the divisibility and quantitative features crucial for certain applications.
erc 3525 hoạt động với semi fungible token
For instance, staking a portion of LP tokens in DeFi protocols often requires withdrawing and re-creating positions, impacting liquidity and efficiency. ERC-3525 solves this by introducing a quantitative attribute directly into the token, enabling fractional ownership and seamless partial transfers.
By incorporating “units” (similar to balance in ERC-20) and “slot” (for categorizing token attributes) alongside the unique “tokenID,” ERC-3525 allows for splitting and merging tokens with the same “slot” value. This innovative approach combines the customizability of ERC-721 with the quantitative features of ERC-20.
erc 3525 cung cấp giải pháp semi fungible token
Practical Applications of ERC-3525
Solv Protocol, a pioneer in Financial NFTs, utilizes ERC-3525 for its Initial Voucher Offerings (IVOs), a novel fundraising mechanism. Projects issue vouchers as ERC-3525 tokens, enabling fractional ownership, trading, and merging based on shared characteristics like lock-up periods and underlying assets.
Beyond fundraising, ERC-3525 holds immense potential for DeFi applications like DeFi bonds, structured financial products, and more. Its ability to represent complex financial instruments with fractional ownership and flexible attributes opens doors to innovative financial solutions on the blockchain.
Conclusion
ERC-3525 represents a significant advancement in token standards, enabling the creation of sophisticated and versatile financial instruments on Ethereum. While its widespread adoption depends on successful implementation and demonstrable benefits, the potential for transforming DeFi and other blockchain-based applications is undeniable. As Solv Protocol and other projects continue to explore the capabilities of ERC-3525, the future of semi-fungible tokens looks promising.
