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 enable the development of new hybrid DeFi programs and tools to improve.
This initiative aims to improve Solana’s functionality and support its growth as the blockchain of choice for digital assets and web3 applications.
Source: MetaplexUshering in a new era of hybrid DeFi
MPL-404 introduces a transformative approach by combining the liquidity of fungible tokens with the different properties of NFTs. This hybrid model allows users to switch between fungible and non-fungible versions of the same asset, providing greater flexibility and functionality when transacting digital assets.
Metaplex also aims to empower developers, makers and collectors by offering 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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