Morse NFT - A Technical Overview
Technical Foundation
Morse NFTs are built on the DN-404 token standard, an evolution of the ERC-404 protocol. This hybrid standard combines the fungible properties of ERC-20 tokens with the non-fungible characteristics of ERC-721 tokens. A 1:1 relationship exists between $MORSE tokens and Morse NFTs: one $MORSE token corresponds to one Morse NFT.
The Mitosis team aims to mint a total of 10,000 Morse NFTs. DN-404 samples, required for minting, are acquired through community participation and ecosystem activities.
Contract Addresses:
- $MORSE (ERC-20):
0xe591293151ffdadd5e06487087d9b0e2743de92e - Morse NFT (ERC-721):
0x027da47d6a5692c9b5cb64301a07d978ce3cb16c
Ownership Mechanics
When a user acquires whole units of $MORSE tokens, a corresponding Morse NFT is minted. If a user's $MORSE balance falls below a whole number, the associated NFT is burned and re-enters the minting queue. This mechanism allows for a dynamic relationship between token holdings and NFT ownership.
Each Morse NFT possesses unique visual traits. The DN-404 standard facilitates interoperability across various blockchain networks.
Market Data
As of July 6, 2025, the Morse NFT collection exhibits the following market data on OpenSea:
- Floor Price: 0.1539 ETH
- Total Volume: 248.14 ETH
- Unique Owners: 2,540 (81.5% of total unique holders)
$MORSE Token Supply and Distribution
The total supply of $MORSE tokens is 10,000. The distribution is as follows:
- Circulating $MORSE (In Wallets): 5,785.22 tokens
- Uniswap LP $MORSE (Liquidity in Uniswap): 14.87 tokens
- Unclaimed $MORSE (Reserved for future events): 4,199.91 tokens
Morse NFT Holder Analysis
Analysis of Morse NFT distribution among holders:
- Holders with 1 Morse NFT: 2,231
- Holders with 2 Morse NFTs: 184
- Holders with 3+ Morse NFTs: 129
- Holders with No Morse NFT (Holding <1.0 $MORSE): 5,175. This group includes holders of fractional $MORSE tokens.
Rarity and Rerolling Mechanism
The rarity of a Morse NFT can be determined via metadata on OpenSea or community-developed tools. The collection features five rarity levels, from most to least rare:
- Mythical Breed
- Legendary Hound
- Epic Canine
- Rare Pooch
- Lil Pup
The "rerolling" mechanism is linked to the DN-404 standard. If a user's $MORSE balance drops below a whole number, the current NFT is burned. By transferring fractional $MORSE to a secondary wallet and then returning it, a new NFT is minted. This allows for the acquisition of a different NFT. Tools like Murin's "Reroll Checker" provide information on potential future mints.
Caution is advised during rerolling, as burned NFTs are difficult to retrieve due to the sequential minting queue. Verification of token IDs is essential.
Current Statistics
- Total Morses Minted: 3,116 out of 10,000 possible NFTs. This represents a decrease of 4 NFTs from the previous day.
- Market Capitalization: $1.09 million (+4.78%)
- Floor Price: $351.09 (+4.64%)
- 24-hour Trading Statistics (DappRadar): Volume: $0, Traders: 0, Sellers: 0, Buyers: 0, Sales: 0.
Summary
Morse NFTs represent an application of the DN-404 token standard, offering dynamic ownership and a unique rerolling mechanism. The project's market presence and token distribution indicate an active ecosystem. Morse NFTs provide holders with benefits within the Mitosis ecosystem, including boosted rewards and exclusive access. The project continues to evolve within the broader Web3 space.
Comments ()