What is hiENS4?
HiENS4 is an innovative NFTETF (Non-Fungible Token Exchange Traded Fund) token that is fully backed by 4-digit ENS (Ethereum Name Service) NFTs (Non-Fungible Tokens). Each HiENS4 token represents a fraction of 1/1,000,000 ENS4 in an on-chain ENS4 Meta-swap pool, which operates seamlessly on the Fracton Protocol's smart contracts. With no centralized control or authority, HiENS4 offers users a permissionless solution to redeem ENS4 NFTs from HiENS4 tokens, subject to a nominal 0.6% redemption fee.
The total supply of HiENS4 tokens depends on the number of ENS4 NFTs present in the meta-swap pool. Unlike traditional tokens with a hard cap, HiENS4 does not have a predetermined maximum supply. For each ENS4 NFT held in the pool, there will be 1,000,000 HiENS4 tokens in circulation.
HiENS4 operates as an Ethereum-based ERC-20-compatible token, ensuring compatibility and security within the Ethereum ecosystem. The token's underlying value is safeguarded by the state machine of the Ethereum network, providing users with confidence in its reliability and robustness.
The Fracton Protocol serves as the backbone of the HiENS4 ecosystem, facilitating seamless and automated operations of the ENS4 Meta-swap pool. This protocol leverages smart contracts to enable efficient and transparent transactions, ensuring that the exchange of HiENS4 tokens for ENS4 NFTs occurs without any intermediaries or unnecessary complexity.
HiENS4 tokens provide a unique investment opportunity, allowing users to gain exposure to the value of ENS4 NFTs without the need for direct ownership. By holding HiENS4 tokens, investors can participate in the potential growth and appreciation of the underlying ENS4 NFT assets, tapping into the dynamic NFT market.
Redeeming ENS4 NFTs from HiENS4 tokens is designed to be a straightforward process. Users can exercise their redemption rights by paying a modest 0.6% redemption fee. This fee covers operational costs and ensures the sustainability of the HiENS4 ecosystem. By redeeming their HiENS4 tokens, users gain ownership of the corresponding ENS4 NFTs, unlocking the benefits and unique features associated with these valuable assets.
The HiENS4 ecosystem is built on the principles of decentralization and permissionless participation. Users have the freedom to engage with HiENS4 tokens and the associated ENS4 NFTs, independently and without any external approvals or restrictions. This inclusive approach ensures that anyone can participate in the HiENS4 ecosystem, fostering a vibrant and diverse community of investors and collectors.
In conclusion, HiENS4 represents an innovative NFTETF token that introduces a new dimension to the world of NFT investments. With its backing by 4-digit ENS NFTs and seamless integration with the Fracton Protocol, HiENS4 offers users a unique opportunity to gain exposure to the value of ENS4 NFTs. The Ethereum-based ERC-20 compatibility ensures the token's security and compatibility within the Ethereum ecosystem. Embrace the future of NFT investments with HiENS4 and unlock the potential of the dynamic NFT market.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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