Metaplex and Mutant Labs Introduces MPL-404 Protocol on Solana

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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.

Source: Metaplex

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.

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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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