ERC-1000 EIP

The ERC-1000 epitomises the culmination of Polarise Protocol’s proprietary Non-Fungible Token fractionalization technology and P-Token mechanism.

ERC-1000 Overview

Summary

The ERC-1000 epitomises the culmination of Polarise Protocol’s proprietary Non-Fungible Token fractionalization technology and P-Token mechanism. Through the implementation of standards at the contract level and the fostering open-source practices in contract development, we offer comprehensive and enhanced solutions for the integration of Non-Fungible Tokens (NFTs) and Fungible Tokens (FT). Our primary goal is to imbue assets with the dual functionality of NFTs and FTs, thereby enabling seamless conversion between NFT and FT formats. This capability facilitates asset adaptability to diverse utility requirements across various contexts.

The ERC-1000 is built upon the foundations laid by the ERC-721 and ERC-20 standards, enhancing their functionalities. In addition to incorporating the capabilities of ERC-721 and ERC-20, the ERC-1000 offers the following advanced features:

• Generating a specific quantity of ERC-20 tokens through the process of burning ERC-721 NFTs, or conversely, creating ERC-721 NFTs by burning ERC-20 tokens.

• Acquiring a specific quantity of ERC-20 tokens by depositing NFTs into the designated contract address of the ERC-1000 protocol.

• Enabling the seamless conversion of a designated quantity of ERC-20 tokens into both randomised and specific ERC-721 NFTs.

• Securing a predetermined quantity of ERC-20 tokens by utilising ERC-721 NFTs as collateral within the consignment or leverage functionalities.

• Providing repurchase options for ERC-721 NFTs used as collateral in consignments, as well as redemption options for ERC-721 NFTs utilised as collateral in lending.