Pandora Launches Launchpad, Is There Any Hope for ERC-404?

On April 7, the ERC-404 project Pandora announced on social media that it would launch the Launchpad platform, where users can create new 404 tokens through Pandora. As an "innovative NFT protocol", Launchpad was one of the most anticipated features when the community first met Pandora, but this dynamic did not seem to attract much attention.

Launchpad interface preview

Two months ago, the ERC 404 project Pandora, which emerged out of nowhere, quickly became the focus of the crypto community with the concept of "semi-homogeneous tokens". Many community members who have experienced the NFT bull market have tweeted to analyze the impact of Pandora on traditional NFTs. Pandora's believers even see it as a breaker in NFT trading markets such as OpenSea.

Despite the controversy of team information opacity and risks in the protocol code, the token $PANDORA has increased 43 times in a week and the weekly trading volume has exceeded 300 million US dollars under the hype of social platforms. During the same period, other projects built on the ERC-404 protocol, such as DEFROGS, ROCK, and Monkees, have also increased by dozens of times.

But the popularity of ERC-404 only lasted for two weeks. After breaking through $30,000, $PANDORA began to fall. On February 23, the community monitored that the Pandora team minted 100 $PANDORA worth about $1.8 million and transferred them to Wintermute Trading. This move was speculated that Wintermute would become a Pandora market maker, and holders regarded it as an important positive, but such a signal did not push $PANDORA to its previous high.

In the past month, most of the new projects based on ERC 404 have ended up with zero, and the emergence of new projects similar to 404 protocols such as ERC-911, DN-404, BT-404, etc. have also distracted the attention of Pandora. As of the time of writing, the price of $PANDORA is $11,174, which has fallen by more than 65% from its high point.

But in the past two weeks, Pandora has started to show frequent dynamics. On March 19, Ether Orb, a PvP skill game that uses the ERC 404 protocol, announced that it would assign a whitelist to Pandora holders. On March 24, Pandora announced a partnership with Indonesian Internet celebrity NFT IP Ghozali Ghozalu to launch the token &NFT series Ghozali 404, and Pandora holders will receive a 5% airdrop share of the total.

But from the perspective of the trend, the tokens of these two projects were immediately hit by airdrops after they went online, and they all returned to zero. Pandora's expectation of becoming an airdrop gold shovel is difficult to achieve.

The "stunning feeling" at the beginning of its establishment is no longer there, and the launch of Launchpad two months later seems to make it difficult for Pandora to return to its high point.

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