Non fungible property standard

EIPs
1

Hello magicians!

I’d like to introduce the recently proposed Non fungible property standard.
TLTR: This standard added some extensive user classes like tenancy or lien in addition to ownership of the ERC721 standard. These features make rental or collateral without escrow possible.

Here is the link to details.

I’d love to hear your feedback.

If you like to implement this standard to your project and have some personal questions, DM me https://twitter.com/KOHSHIBA

2 Likes
2

What does that mean in practice? Without escrow meaning ‘without 3 party custodian’?

1 Like
3

I mean escrow as assign another address on ownerOf() in ERC721.
Since many application refer the address assigned in ownerOf() as the owner, escrow to contract hurt the utility of the token in the design of ERC721.
This EIP is designed to eliminate this problem by providing three user class as default.

4

Ok. So, It’s like system some of vaults used with user/controller/client all having some level of access and interaction with tokens?

5

Yes. The standard has 3 user classes.

Lien.
This is a user class that is active only when it is set. Lien enables transfer of owner and user It is supposed to be set when the owner collateralizes the property.

Owner
The owner can transfer the owner right and the user right.

User
The user can transfer the user right. Applications using this standard is expected to provide a service to this user class. Tenant right is set when it is rented out and it suspends the owner’s authority to transfer the property.