Pandora’s box has swung commence within the crypto ecosystem.

Pandora is a newly launched token that adheres to “ERC-404,” a brand aloof and experimental token customary on Ethereum. The cryptocurrency used to be rolled out on Feb. 2 and on Saturday at 11 a.m. ET, it used to be trading at $23,093, making its market cap stand at over $224 million, in step with CoinGecko.

Per crypto analytics trading platform DexTools, Pandora has bigger than $38 million in liquidity.

Learn more: What Is ERC-404? A Handbook to the Original Semi-Fungible Token Original

Pandora “jogs my memory of the quantum impart of Schrödinger’s Cat, you perceive, it’s neither alive or tiring or it’s far seemingly to be alive or tiring… So in general it [Pandora] is seemingly to be both a non-fungible token which is what all individuals is conscious of as NFTs, ERC-721, but furthermore it would possibly perhaps perhaps perhaps well also be a fungible token,” talked about Slouch Li, a product marketing supervisor at blockchain analytics firm Nansen in a YouTube video.

Pandora, by its adherence to ERC-404, combines two token requirements, ERC-20 and ERC-721. ERC-20 introduces an normal for tokens to be certain that each is the same as others, making them fungible, whereas ERC-721 is a a form of customary that makes a token uniquely a form of from others. Therefore ERC-721 cryptocurrencies are called non-fungible tokens (NFTs).

On the challenge’s GitHub website, Pandora’s builders wrote that “Whereas these two requirements [ERC-20 and ERC-721] have to not designed to be mixed, this implementation [ERC-404] strives to enact so in as sturdy a formulation as doable whereas minimizing tradeoffs.”

Pandora is unusual, on fable of “you would also buy this ERC-404 on a DEX (decentralized alternate) or on an NFT market. This wasn’t doable earlier than,” Nansen’s Li talked about.

Pandora launched unhurried Friday that blockchain security firm PeckShield done a excellent contract audit document for the ERC-404 token. The safety firm talked about that they did not thought any “severe level vulnerabilities.”

Not like ERC-20 and ERC–721, ERC-404 is an “unofficial” token customary on Ethereum, on fable of it has not gone by the Ethereum Improvement Proposal job that is used to point out, discuss and implement changes to the Ethereum blockchain.

UPDATE (Feb. 10, 11:17 a.m. ET): Up up to now the price and market capitalization of Pandora.