Metaplex and Mutant Labs introduce MPL-404 protocol on Solana

Metaplex and Mutant Labs introduce MPL-404 protocol on Solana

O Metaplex Foundationin partnership with Mutant Laboratoriesannounced 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, contributed its SPL-404 exchange program for the Metaplex Program Library (MPL) to expand the capabilities of the 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 the preferred blockchain for digital assets and web3 applications.

Source: Metaplex

Ushering in 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 greater 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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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to thoroughly research any product before making any type of investment.

Blockchain enthusiast and long-time gamer.

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