Metaplex and Mutant Labs Introduces MPL-404 Protocol on Solana

The Metaplex Foundation, in partnership with Mutant Labs, has announced the launch of MPL-404, an innovative framework and on-chain… The post Metaplex and Mutant Labs Introduces MPL-404 Protocol on Solana appeared first on NFT Plazas.

Business Jun 5, 2024 0 Add to Reading List

Metaplex and Mutant Labs Introduces MPL-404 Protocol on Solana

The Metaplex Foundation, in partnership with Mutant Labs, has announced the launch of MPL-404, an innovative framework and on-chain protocol that integrates fungible and non-fungible assets in a concept known as “hybrid DeFi.”

Mutant Labs, known for its expertise in hybrid DeFi solutions on Solana, has contributed its SPL-404 swap program to the Metaplex Program Library (MPL) to expand the capabilities of MPL-404 and enhance the development of new hybrid DeFi programs and tools.

This initiative aims to enhance Solana’s functionality and support its growth as a preferred blockchain for digital assets and web3 applications.

Ushering A New Era of Hybrid DeFi

MPL-404 introduces a transformative approach by combining the liquidity of fungible tokens with the distinct properties of NFTs. This hybrid model allows users to swap between fungible and non-fungible versions of the same asset, providing increased flexibility and functionality in digital asset transactions.

Metaplex also aims to empower developers, creators, and collectors by providing new tools and SDKs for creating dynamic digital experiences with MPL-404.

Developers interested in MPL-404 are encouraged to follow Metaplex on X for updates on documentation and SDK releases.

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The post Metaplex and Mutant Labs Introduces MPL-404 Protocol on Solana appeared first on NFT Plazas.