What is hiPunks?
hiPUNKS is a unique NFTETF token that allows users to invest in the CryptoPunks NFT ecosystem. It operates on the Fracton Protocol's smart contracts, which are fully decentralized and permissionless, meaning no one has the authority to control them.
One hiPUNKS token represents 1/1,000,000 CryptoPunks NFTs in the on-chain CryptoPunks Meta-swap pool. This means that for every CryptoPunks NFT in the pool, there are 1,000,000 hiPUNKS tokens in circulation. The total supply of hiPUNKS tokens is dependent on the number of CryptoPunks NFTs in the meta-swap pool, and there is no hard cap for hiPUNKS.
Investors can redeem CryptoPunks NFTs from hiPUNKS tokens with only a 0.6% redemption fee, making it a cost-effective way to invest in the CryptoPunks ecosystem. The hiPUNKS network is secured by Ethereum's state machine, which is known for its robust security features.
The CryptoPunks NFTs are a collection of 10,000 unique 8-bit characters, each with its own distinct features and traits. They were created in 2017 by Larva Labs, and quickly gained popularity in the NFT space. Today, they are considered one of the most valuable and sought-after NFT collections in the world.
By investing in hiPUNKS, users can gain exposure to the CryptoPunks ecosystem without the hassle of purchasing individual NFTs. The Fracton Protocol's smart contracts ensure that the investment process is fully automated and transparent, making it easy for anyone to invest in hiPUNKS.
Moreover, hiPUNKS is an ERC-20 compatible token, meaning it is built on the Ethereum blockchain. Ethereum is a decentralized platform that allows developers to build and deploy decentralized applications, or dApps, on top of its blockchain. This means that hiPUNKS is a fully decentralized token, and its value is determined by market demand and supply.
In conclusion, hiPUNKS is a groundbreaking NFTETF token that offers investors an easy and cost-effective way to invest in the CryptoPunks ecosystem. With its fully decentralized and automated investment process, and the security of Ethereum's state machine, hiPUNKS is a promising investment opportunity for anyone looking to enter the 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.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free