Arbitrum ERC404 Builder Club

ScatteringLabs
3 min readFeb 16, 2024

Background

Hi Arbitrum Builders, when the team discovered the ERC404 innovation initiated by the Pandora team, they believed that there are many unexplored potentials.

In order to bring this innovation to fruition, the team conducted the first ERC404 experiment on Arbitrum: Crystal. This was done so that Arbitrum enthusiasts could gain a better understanding of what ERC404 is and begin considering its potential user scenarios.

The Scattering team believes that the next chapter of ERC404 should focus on real-world scenarios, rather than just “degen” coins like meme coins. It should introduce real innovations by addressing the liquidity of NFTs, which hold common value, in a more native and programmable manner.

Why Choose ERC404

If you don’t want to own an NFT, you can now directly trade ERC404 tokens in an ERC20 format on Uniswap. If you want to acquire NFTs, you can buy a large amount of ERC404 tokens through Uniswap in an ERC20 format, and you will receive these NFTs automatically.

This approach also benefits collection creators in the following ways:

  • You can more easily raise funds through NFT sales by conducting an Initial DEX Offering (IDO) on Uniswap, thereby improving fundraising efficiency.
  • You can provide liquidity for your collections more easily by depositing ERC404 tokens and ETH obtained from the community on Uniswap. Additionally, you can incentivize liquidity by rewarding ERC404 tokens to Liquidity Providers (LPs). This method significantly enhances your collection’s liquidity, a challenge not adequately addressed by OpenSea.
  • You can increase your earnings from creator fees by redefining NFT trading through ERC404 tokens.

ERC404 Builder Club

With these benefits for both Creators and the Community, the Scattering team believes that ERC404 will become increasingly popular in the future. Scattering holds the vision to become the premier instant liquidity market for ERC721 and ERC404 NFTs on Arbitrum.

Therefore, Scattering is launching the Arbitrum ERC404 Builder Cub program with the following objectives:

  • To facilitate collaboration, provide coding assistance, and encourage suggestions among ERC404 builders.
  • To act as a central hub for sharing development insights, resources, and updates related to ERC404 projects.
  • To emphasize Arbitrum as the optimal platform for builders.

What will you get?

The ERC404 builders could discuss your ideas, draw inspiration from others, seek assistance, and share updates on ERC404 innovations. This will serve as a hub for ERC404 builders on Arbitrum.

You can receive coding, marketing, token launch, and liquidity bootstrapping assistance or suggestions from the Scattering team and its platform if your ideas are highly impressive and valuable to the Arbitrum ERC404 ecosystem.

For particularly innovative builders, Scattering will award Crystal token grants to provide support in realizing their ideas.

How To Apply?

Very simple! Just head over to Scattering’s Discord and open a ticket to introduce yourself briefly.

If the team finds you suitable for the club, we will grant you the membership role to access it.

Currently, the team primarily focuses on the following user scenarios:

  • Gaming
  • Tickets
  • PFP
  • RAW NFTs

Club Rules

Membership:

  • Open to all interested in the ERC404 ecosystem, including developers, enthusiasts, and investors.
  • Verification process for builders to ensure meaningful contributions.

Channel Topics including:

  • Main Discussion: For general conversations, networking, and collaboration proposals.
  • Resources: builders can share guides, tools, and best practices.
  • Project Showcases: builders could present their projects and receive feedback.

Moderation and Governance:

  • Establish clear rules and guidelines to maintain a productive environment.
  • Team will be active in the chats to identify the most serious builders with the greatest potential to contribute to Arbitrum ERC404 eco.
  • Scattering devs will be there to answer questions and participate in conversations.

Engagement and Growth:

  • Regularly scheduled AMAs within Discord to engage builders/active members of the builder community.
  • Potential grant announcements for promising projects or contributions.

Conclusion

The adoption of ERC404 is just beginning, and the Scattering team believes that more and more NFT creators will join this innovation to bring very exciting user experiences or experiments to the NFT space.

Scattering welcomes any builders who are interested in conducting the ERC404 experiment on Arbitrum to join this club and build together.

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