MEME Token welcomes a Rebound, BC 404 protocol brings new opportunities to the industry

Recently, after a rapid decline in the cryptocurrency market, it has started to slowly rebound. The MEME project has performed particularly well, providing investors with opportunities to find potential projects. In this round of the bull market, MEME has become a topic that cannot be ignored. Although the high valuations of VC projects and unreasonable Token allocations have shifted market funds towards MEME, the strong user base and consensus within MEME are also important reasons for its popularity.

Currently, the market mainly focuses on homogeneous MEME Tokens, while there is less attention on MEME in the form of NFTs. The trading liquidity of MEME Tokens in the form of NFTs is limited, but in terms of value representation, MEME has become widely circulated precisely because of each "small image." NFT versions of MEME play a crucial role in the ecosystem, but they just lack a catalyst.

The ERC 404 protocol has therefore entered the sight of developers. ERC 404 is known as a semi-fungible Token, possessing the characteristics of both fungible and non-fungible tokens, allowing for splitting and merging. Based on this, a certain protocol has optimized it and launched BC 404, bringing new gameplay and application scenarios to the industry.

The original intention of this protocol is to "color" homogeneous tokens, attaching images and other community elements to MEME coins, thereby increasing their spread and recognition, which is beneficial for MEME coins to gain a larger user base and value. This protocol has introduced a conversion pool, allowing users to convert homogeneous MEME tokens into semi-homogeneous tokens with NFT image attributes, and also to convert these tokens back to the original homogeneous tokens.

BC 404 is evolved from ERC 404, possessing both fungible and non-fungible Token attributes. Compared to ERC 404, BC 404 adds a curve model binding feature, which incorporates the generation curve model during the Token generation process, allowing control over the generation rate or quantity of Tokens. This mechanism is similar to the mining difficulty mechanism, making new NFTs harder to generate than before, thereby increasing the scarcity and value of the Tokens.

For investors, new NFTs may generate a premium compared to homogeneous tokens, increasing the value of NFTs. The rising costs of generating NFTs will also enhance their scarcity, and the unique numbering makes NFTs more distinctive, allowing for more gameplay worth exploring.

The protocol has established partnerships with multiple well-known institutions and project parties to jointly expand the application scope and scenarios. It has completed the conversion activity between PEPE and COLORPEPE, with a total of 42 million COLORPEPE, of which 80% is generated in the conversion pool, team allocation is 0, and the remaining 20% is used for liquidity plans.

The protocol currently does not have its own mainnet Token, but launched the Point points airdrop feature in April this year. Users participating in the points airdrop have the opportunity to obtain a whitelist for the IDO and become among the first users of the conversion pool. In addition, the protocol has also launched NFT airdrop activities in collaboration with other projects, providing more potential value for holders.

For users participating in the protocol conversion pool, there are almost no additional minting costs, but there is an overflow value of unlimited imagination for the new NFT Token. Participants calculate based on the coins they are involved with, facing minimal risk. The protocol is very user-friendly, and many novel gameplay elements will emerge based on BC 404, which is significant for the activity of the ecosystem. Considering the protocol's willingness to empower the converted Token and the expectations for airdrops, it is worth continuous attention and participation.