Deeply analyze the main contents of erc-4907 agreement and think about the significance of this agreement to NFT market liquidity!

2022 year 6 month 29 Japan ,NFT Rental market  Double Protocol  Launched rentable NFT standard ERC-4907 It has passed the final review of Ethereum development team , Become the first in Ethereum 30 The states are ”Final“（ The final version ） Of ERC standard .

First , What is? Double Protocol and ERC-4907

Double Protocol It's an Ethereum based NFT Lease agreement ,NFT The owner of can authorize his own NFT For renters , and NFT Itself does not need to be transferred . Because of this characteristic ,Double Protocol It can realize unsecured NFT lease . This protocol can support all ERC-721 NFT, Support subletting and other specific NFT Leasing scenario .

ERC-4907 yes EIP-721 An extension of . It proposes an additional role that can grant addresses (user), And the time when the role is automatically revoked (expires) . The role represents “ Use ” NFT Of user jurisdiction , But it doesn't mean transferring or setting the user's ability .

You can add user Character , So that multiple protocols can be integrated and written based on ERC-4907 The contract of the right to use , and expires The character can automatically invalidate the lease transfer user , There is no need for the owner to make a second closing contract transaction .

And the EIP-4907 The token established by the standard , namely ERC-4907 Completely downward compatible ERC-721 standard , The new token standard can use all existing ERC-721 Contents of agreement and contract , And let developers get familiar with the standard quickly .

ERC-4907 What is the main content and practical application of ？

ERC-4907 The standard proposes two role definitions ： Owners and users . Their rights are as follows ：

1. Transfer the owner role

2. Transfer user roles

1. Use NFT Contract operation

• owner (owner) Entitled ：

• Users (user) Entitled ：

ERC4907 The biggest feature of is that NFT Ownership of will NFT I took it out alone , Users can not own NFT In case of NFT. The expiration time can make the right to use expire automatically , This will reduce one transaction .

Practical application, for example ： hypothesis A Have NFT And want to rent NFT, and B Want to rent NFT. The process is as follows ：

1. A Signing the lease contract can transfer A With the NFT.

2. A Will want to rent NFT Send the list to the lease contract .

3. B Choose a rental time , The rent is calculated according to the lease time and rent price .B Transfer tokens as rent , The lease contract will NFT from A Transfer to the address of the lease contract , And will NFT The user of is set to B, Set the expiration time as the lease time .

4. When the lease expires ,A Can be redeemed from the lease NFT.

Put forward ERC-4907 What is the motivation of

For a while , domestic and foreign NFT Although the market continues to receive attention , But the problems in it have to be worrying .

First, the market continues to cool . Whether overseas NFT The product is still a domestic digital collection , Generally speaking, sales are not as smooth as before . According to statistics , Worldwide last month NFT The market sales volume has been higher than last year 9 Monthly shrinkage 90%,5 Since the month NFT The overall market sales have increased from 46 Billion dollars down to 15.9 Billion dollars , quite a lot NFT Project sales fell precipitously , some NFT The price of products has fallen sharply .

Two is NFT Market chaos also began to appear . Including fraud 、 plagiarism 、 System vulnerabilities and phishing attacks 、 Platform insider trading even ran away 、 Various problems of asset theft emerge in endlessly , It can be described as barbaric growth .

The third is NFT Market legal and regulatory issues continue to receive attention . Including the infringement of intellectual property rights of products , Especially those who have been criticized NFT Financial operation of products , Platform supervision issues , Both at home and abroad are constantly emerging .

NFT The focus and bottleneck of market problems is the scarcity of liquidity . And cause NFT The reason why liquidity is scarce , Is its technical agreement primary , Single application scenario , Difficult to express complex economic relations , Inevitably lead to NFT Market financialization and speculation are prevalent .

ERC-4907 Can we really solve the liquidity problem ？

ERC-4907 A more flexible scheme in the idea of the agreement , But in order to realize the function of leasing , There are still many problems . stay ERC-4907 In the realization of ,User Every time transfer Reset when , And User At any time can be NFT The holder of or authorized person to set or update . If we set user The act of is regarded as the signing of the lease , Then you can update it at any time user The behavior of means that this lease can be broken at any time , This obviously infringes the rights and interests of the lessee , And bring great uncertainty to the whole leasing relationship . Under such premise , That is, the lease contract can be changed at any time , Lease term （expires） There is no need to exist .

Besides ERC-4907 The agreement itself does not realize the leasing function , When leasing , We also need to introduce an application level lease contract , Let's look at this agreement. The earliest is Double Protocol On 2022 year 4 month 19 Launch new NFT Casting standard ERC-4907, For the original ERC-721 Tokens are added with conditional use rights , Is an existing ERC-721 NFT Extend the practicality of the format .

ERC-4907 From proposal to approval, enter final state , It only takes three months . Compare with other agreements ：ERC-1155 From raising to entering final It was used 12 Months ,ERC-777 It was used 18 Months ,ERC-820 It took 15 Months . The whole proposal seems to enter without sufficient discussion and verification final State of , It is not in line with the Ethereum proposal, which requires repeated discussion by the community 、battle、 Consistent cognition of modification , Therefore, it remains to be seen whether such a hastily adopted proposal can establish a broad consensus

Summary

NFT The liquidity of is obviously not resolved by this agreement . More importantly, make more NFT Usage scenarios of .BAYC In order to solve NFT Problems in use , I developed a game myself - Ape God .sandbox and Decentrland At present, the best way to open it is advertising . other NFT The usage scene of can only be used as a avatar . obviously , These usage scenarios are not good enough , The way of use is not rigid enough .

Only when NFT Become a part of daily life , And it should be used in a very high-frequency way , Only in this way can we inspire NFT The potential of , Bring better liquidity . But for now , Such a way has not been found .

『 Statement ： This content is for the general public only NFT Enthusiasts learn and exchange science , It does not constitute an investment opinion or suggestion , Please look at it rationally , Set up the right idea , Improve risk awareness 』