The ERC-3525 Semi-Fungible Token (SFT) standard , a general-purpose standard for advanced financial instruments, has the potential to solve problems too costly to solve with ERC-721s or 1155s. — As discussed in the previous chapters, simple financial NFT standards like ERC-721 and 1155 tokens aren’t suitable for designing and creating flexible, tailor-made Web3 financial assets. The ERC-3525 Semi-Fungible Token (SFT) standard , a general-purpose standard for advanced financial instruments, has the potential to solve problems too costly to solve…

作者：Ethan Tsai, Alvis Du, Mike Meng ERC-3525 标准是以太坊社区批准通过的半匀质化通证（Semifungible Token, 亦称为半同质化通证，简称 SFT）标准，由 Solv Protocol 提出。 ERC-3525 标准定义了一类新型的数字资产，具有以下突出优势： 与 ERC-721 标准兼容，具有唯一 …

In order to build a more sustainable and decentralized Web3, we must learn from simple financial NFTs and build far better financial NFTs. Decentralized Finance, or DeFi, is a financial system that uses cryptocurrency and blockchain technology, instead of centralized intermediaries, to manage financial transactions. …

Why semi-fungibility is important to the future of our economy, network, and freedom. — Smart contract tokens used as proof of ownership have inspired endless innovations since they were first proposed by Vitalik Buterin. Token standards like ERC-20 and ERC-721 are at the cutting edge of defining and expressing digital ownership, and have fueled the multibillion-dollar crypto market. But what if this isn’t the…

The Ethereum Foundation approved ERC-3525 Semi-Fungible Token as its 35th ERC token standard on September 5, 2022, putting semi-fungible tokens (SFT) on par with fungible tokens (ERC-20) and non-fungible tokens(ERC-721). But why do we need another token standard? Aren’t the massive market sizes of ERC-20 assets and ERC-721 NFTs abundant…

As of Sep 6th, 2022, the semi-fungible token standard ERC-3525 has moved to final and become an official token standard before the long-planned ETH merges. However, 35 token standards have been approved by the community. …

在一个新领域中学习，一个非常大的难点是需要找到一套高效的思考框架和交流语言。Web3 涉及到很多通证经济和金融相关的议题，在相关讨论中，资产负债表（balance sheet）是非常有用的工具，不仅可以帮你厘清思路，看清楚事情的本质，还能提高交流效率，甚至可以帮助你发现新的创新机会。我本人就从中获益匪浅。不过在实践中，我感到了解这个工具并且能够主 …

[作者按] Solv 研究组的系列文章 《Web3 国际市场危机分析》已经发表了三篇。这一系列的文章，主要是从美元稳定币的创造、流动和配置的视角来分析本轮 Web3 国际市场危机的一些深层原因。我收到一些读者的评论，认为部分内容比较专业，对基础要求较高，尤其是涉及到货币经济的一些行文表述，让一部分读者理解起来吃力。实际上为了能够让大部分读者能够理 …

[说明] 本文是 Solv 研究组对于本次 crypto 市场暴跌的第三篇深度分析，在承接上一篇对于 crypto 市场美元化的论述之后，重点讨论 crypto 市场中的 CeFi 机构是如何事实上扮演银行的角色，向全行业提供流动性供给、杠杆管理和期限转换服务的，并探讨其缺陷和原因。 TL;DR Crypto 市场美元化之后，流动性（美元稳定币）主要是通过外部输入 …