Egoras is leveraging the ERC-404 token standard to tokenize ownership of its “EgoStation” charging stations. This innovative approach bridges the gap between physical ownership and digital tokens on the blockchain. By combining elements of the established ERC-20 (fungible tokens) and ERC-721 (non-fungible tokens) standards, ERC-404 unlocks liquidity for traditionally illiquid real-world assets like charging stations.
How it works
Egostation leverages the ERC404 token standard on Egochain, granting it unique functionalities. It can be traded on exchanges as an ERC20 token or sold as NFTs on OpenSea.
Exchange : Egostation functions seamlessly on exchanges just like other ERC20 tokens. Users can buy and sell Egostation tokens on exchanges.
NFT Marketplace: Egostation tokens can be represented as NFTs on OpenSea. Businesses seeking to establish charging stations can purchase these NFTs. Each NFT can be redeemed for a physical charging station setup.
Egax Rewards: Businesses that acquire Egostation NFTs and redeem them for physical stations benefit in two ways:
- Charging Fees: They earn revenue by providing charging services for Apex 28, EGC-28, and EGENX vehicles.
- Egochain Block Rewards: Additionally, they receive block rewards in the form of EGAX tokens.
Token Holder Benefits: By locking a portion of their Egostation tokens, holders can also earn:
- Block Rewards: Similar to businesses, they can receive EGAX block rewards.
- Profit Sharing: They are entitled to 50% of the charging fees generated by stations established through redeemed NFTs.
