5 best ERC-404 tokens to invest in 2024: Reviewed by Digimagg

Introduced on February 2, 2024, via the decentralized exchange (DEX) Uniswap, Pandora stands as the foremost and most substantial ERC-404 token presently circulating, boasting a market capitalization exceeding $100 million. In its initial days, Pandora witnessed trading volumes surpassing $76 million, making it one of the most highly anticipated launches in recent times. Pandora integrates ERC-20 tokens with replicants from the corresponding NFT collection, employing a mint and burn mechanism. For every 1 ERC-404 token held, the holder receives a replicant NFT. Upon the splitting of these tokens, the replicant is subsequently burned.

In entirety, there exist 10,000 ERC-404-based coins along with 10,000 Replicant NFTs; currently, one token is valued at $18,899.86. Investors will receive their NFT automatically, proportional to the number of tokens they have purchased on the exchange. Although fractional purchases of the token are possible, owning a complete Pandora token is necessary to obtain the replicant NFT. Since its launch, Pandora has established a robust social media presence, amassing over 43,000 followers on X (formerly Twitter). Following its listing on Uniswap at approximately $250, its price surged to a record high of $32,854.52 upon commencement of trading on centralized exchanges, before experiencing a subsequent sell-off. Despite dipping to a low of $4,018.12 in February, its price has rebounded significantly, currently trading at levels up to 300% higher than this point.

Another innovative token utilizing the ERC-404 standard is DeFrogs, representing one of the initial meme tokens adopting this framework. By embracing a meme identity, DeFrogs aims to cultivate a robust social following to enhance the value of its 10,000 PFPs (picture-for-profile) non-fungible tokens. DeFrogs debuted on the Uniswap DEX and is one of the few ERC-404 coins listed on a centralized exchange (CEX) platform. 80% of its supply has been incorporated into the liquidity pool of the DEX.

Inspired by the Pepe meme coin project, DeFrogs has experienced significant volatility since its inception, starting at $1,596 on February 7, 2024, and currently trading at $544.68, less than ten days later. During this timeframe, its price surged to an all-time high of $3,987.97 on February 9, but subsequent bullish activity appears to have triggered profit-taking. As of the current writing, its market capitalization stands at $6,118,307, accompanied by a 24-hour trading volume of $4,183,006, placing it just below the top 500 among all cryptocurrencies. The token boasts a social media following of over 10,000 on X (formerly Twitter) and 2,300 on Telegram.

Inspired by the Pandora project and the Solana NFT collection known as "Flippies," whose creators vanished in 2022, leaving investors in the lurch through "rug pulling," Rugged Art seeks to integrate these pixel penguins into the ERC-404 ecosystem. Despite the scam, the Flippies collection has retained its popularity. According to its creators, the $RUG token has been established to "serve as a reminder of our origins and how a community-driven initiative can rise from adversity."

$RUG aims to position itself as a leading ERC-404 token by transitioning the project to the Ethereum ecosystem. It seeks to achieve this by providing holders with NFT-FT duality and capitalizing on the popularity of the Flippies project. With a total supply of 10,000 RUG tokens, 75% will be allocated to liquidity on decentralized exchanges (DEX) like Uniswap and Jupiter. To attract existing Solana Flippers supporters, it plans to distribute 20% of its supply to current holders, with the remaining 5% allocated for giveaways. Despite experiencing an 87% decline from its peak price of $1,542.24, the daily trading volume remains steady at $291,510. For further information, visit RUG on X (formerly Twitter) and Telegram.

YES positions itself as an MFT (Meme Fungible Token) inspired by the "Yes Chad" meme. This community-driven project seeks to elevate beyond the conventional meme token paradigm by fostering an ecosystem where its token serves as the driving force. To achieve this objective, YES offers various services, including incubation support for emerging teams to launch their projects, blockchain consultancy services, and governance structures. Each MFT holder will possess voting rights in the forthcoming Decentralized Autonomous Organization (DAO), enabling active participation in decision-making processes.

In total, there are 100,000 YES tokens, with 18,000 designated for burning to introduce a deflationary aspect to the project. Each token is paired with an MFT, initially featuring the Yes Chad meme and now including a second one, the PAT MFT. The aim is for investors to speculate on the MFT using the $YES token, which will serve as the liquidity pool. Currently, the market capitalization stands at $1,587,203, with a 24-hour trading volume of $528,336.

Another noteworthy ERC-404 token is EtherRock404, which debuted shortly after Pandora. Inspired by the original EtherRock NTF, this token lacks utility but boasts extreme scarcity, limited to just 100 units in existence. During its zenith, acquiring a solitary rock would have set you back $73,158.82. Nevertheless, following its peak on February 8, 2024, its valuation has sharply declined. Presently, it boasts a market capitalization of $259,491, with a daily trading volume of $20,035, marking an 80% decrease from its peak performance.

The collection comprises 100 distinctive and individual graphic rocks, allowing holders to engage in buying and selling transactions facilitated by a decentralized smart contract. Overall, it seems that early investors may have taken advantage of the price surge and subsequently chosen to lock in their gains, resulting in the current downturn in the market. For the latest updates on EtherRock404, stay tuned to its channel on X (formerly Twitter).