# What is FractonX?

FractonX is an industry-leading fractionalization protocol, using an omni layer of infrastructure that reshapes any asset for the best price discovery opportunity.

Established as a NFT fractionalization infrastructure, Fracton Protocol boasts a commendable track record: 

* 5000+ blue-chip NFTs fractionalized
* 3+ billion dollars in trading volume on KuCoin, Lbank and Uniswap
* 27+ meticulously curated blue-chip NFT collections. 

What makes Fracton truly special is its vision, rooted deeply in the focus of trading and price discovery opportunities.

FractonX' first killer user case is an NFT financial infrastructure that extracts the financial attribute of NFTs from their utility attribute, making blue-chip NFTs affordable and composable into both CEX and Dapps. It allows NFTs to be fractionalized and repackaged to ERC-20 tokens where each ERC-20 token is backed by 1/1,000,000 of the original NFT. Based on a deeply reformed tech design, Fracton is built by state-less centric smart contracts that increase the protocol’s efficiency with lower gas fees and maximized asset security. 

FractonX goes beyond the accolades of its predecessor. With a renewed vision, it endeavors to reshape our interaction with digital assets and the infrastructure of trading and liquidity. The transformation is not limited but expansive.

<br>


# What is NFT Fractionalization?

## Say Hi to Every Top NFT You Love

{% embed url="<https://www.youtube.com/watch?ab_channel=FractonProtocol&t=52s&v=uAafdwe8jvw>" %}

NFT fractionalization enables users to buy and sell expensive NFTs regardless of their net worth. It helps facilitate easy trading among peers and allows individuals to own or speculate on what was then unaffordable. In other words, fractionalized NFTs bridge the gap between blue-chip NFTs and retail users.

Furthermore, the fractionalization of NFTs also benefits the NFT artist as more holders can collect their works, without worrying about over-producing.&#x20;

Ultimately, fractionalization allows for a myriad of benefits, including but not limited to arbitrage opportunities, investors gaining exposure to NFTs without having to identify and buy individual NFTs, and a better medium of price discovery for collectors and newcomers alike.

At Fracton protocol, the team is dedicated to becoming the standard of NFT fractionalization, making the ownership of NFT to be as frictionless as possible. At the same time, continue innovating new use cases using Fracton’s fractionalized NFT as the cornerstone.


# What is Rebase hiNFT?

Rebase hiNFT is a new asset issuance paradigm we believe blends the benefits both of Memecoin and NFTs. Below, we provide an illustration of how any culture/meme can be traded and the user journey of Rebase hiNFTs:

<figure><img src="/files/AoFg5JmBEf2mXshsM12S" alt=""><figcaption></figcaption></figure>

In the traditional financial world, rebasing is often associated with the adjustment of a token’s supply to meet a specific target. In FractonX’s context, this rebasing mechanism is applied to NFTs, where early NFTs minted within a collection are designed to receive token airdrops from subsequent NFT collections launched under the platform.

Now, with rebase added to the proven success of Fractionalized hiNFTs, we are able to create a new NFT issuance paradigm:

Enter X Incubation, a solution tailored to these very challenges.

1. Efficient Market Discovery: Users will first trade the asset in ERC20 tokens, which are then redeemed at random into artwork, we cater to demand more effectively.
2. Widening Accessibility: The ERC20 format beckons a larger audience, eliminating the NFT accessibility issue.
3. Flywheel Effect: Each new project incubated by FractonX will continue to receive future airdrops

The Advantages of Rebase NFTs:

1. **Loyalty and Community Building:** By rewarding early adopters with airdrops from subsequent collections, there’s an inherent incentive to stick around and remain engaged. This not only builds loyalty but also strengthens the community around the NFT collection.
2. **Encouraging Collection Growth:** The promise of future rewards instigates more artists and creators to launch their NFTs under the FractonX umbrella. This has a cyclical effect — more launches mean more rewards, and more rewards attract more launches.
3. **Shifting the NFT Issuance Paradigm:** Traditionally, NFTs operate in silos — one collection remains distinct from another. But with FractonX’s rebase mechanism, collections are intertwined, creating a symbiotic relationship where growth in one collection can benefit another.

Innovative solutions like FractonX’s Rebase hiNFTs and X Incubation are paving the way for a more inclusive and dynamic ecosystem. By addressing core issues such as token standardization, audience transition, and community building, these solutions are not only making it easier for artists and creators to launch and trade NFTs but also incentivizing early adopters and fostering a sense of community.


# Challenges in NFTs & Memecoins

In the rapidly evolving digital asset landscape, two asset types have captured the imagination of both enthusiasts and skeptics: Non-Fungible Tokens (NFTs) and Memecoins. Both these assets tap into internet culture, trends, and communities for their value, but they present distinct challenges that hamper their wider adoption and sustainable growth.

**NFTs: Cultural Significant Yet Inefficient for Trade**

While NFTs have emerged as strong representatives of digital culture, their adoption in mainstream trading has been lackluster. Despite platforms like Blur making significant inroads, the NFT industry is plagued by challenges:

1. **High Entry Barriers**: The costs associated with acquiring and trading NFTs, especially those that are considered blue-chip, can be prohibitively high for the average investor.
2. **Complexity and Accessibility**: Many potential buyers are deterred by the intricate trading experiences and limited ease of access to the NFT market.
3. **Attention ≠ Acquisition**: The mass attention that projects like Pudgy Penguins have garnered does not automatically convert to sales. Although they may have a wide viewership, transitioning these viewers into buyers is not straightforward.
4. **Inefficient Revenue Strategies**: A strategy that capitalizes on merchandise sales, as seen with Pudgy Penguins, doesn't fully leverage the intrinsic Web3 features like ownership and fluid trading. Consequently, this doesn't optimally benefit the broader community of NFT holders.
5. **Liquidity Issues**: Given that NFTs are indivisible by nature, trading them can be a cumbersome process. This affects their price and desirability. Although innovations like NFT fractionalization are bridging this gap, they are yet to be adopted widely.

**Memecoins: Surface-Level Cultural Value**

In contrast to NFTs, Memecoins offer a different set of challenges. Their rise is often meteoric, fueled by internet trends and the prospect of quick profits. However, they come with their own set of limitations:

1. **Lack of Depth**: Memecoins may not offer the depth of cultural connection and a sense of true ownership, attributes that are inherent to NFTs.
2. **Sustainability and Community-building**: For all their trading ease, Memecoins often lack the robust community foundation that more established digital assets, like Bitcoin or Ethereum, have cultivated over the years.
3. **Trade-off**: Essentially, the market faces a dichotomy. On one side, there's the profound cultural resonance and ownership that NFTs offer, albeit with trading challenges. On the other, Memecoins provide trading fluidity but often without the deep-rooted cultural connection.

**In Conclusion**

The crypto industry stands at an exciting crossroad. Both NFTs and Memecoins are pushing boundaries, questioning norms, and redefining value. As these assets evolve, addressing the aforementioned challenges will be crucial. Balancing cultural significance with ease of trade will determine their lasting impact and sustainability in an ever-fluctuating market.

<br>

<br>

<br>


# Tech Design Philosophy

Through the development process of creating Fracton Protocol, the dev team is centered around the following design philosophies:

* **Secure**
* **Stateless**
* **Smart**&#x20;

## Secure

Besides rounds of internal/external audits on the Fracton protocol’s smart contracts, each line of code Fracton protocol deployed on the blockchain is non-upgradeable.&#x20;

It ensures that the smart contract is fixed and cannot be altered, even by the contract's creator itself. This can give users of the contract greater confidence as non-upgradeable smart contracts are simpler and more secure, with no need to include code to handle updates or modifications.

## Stateless System Design&#x20;

Fracton Protocol fully utilizes the contract state variables within a framework to implement business logic and process control while optimizing gas consumption by avoiding the addition of new state variables.

There are a few reasons why it is important:

* Users pay fewer gas fees
* Help Ethereum to better scale and decentralize
* Create better composability for the Dapps that build on top of the Fracton protocol

## Smart Token Development

A “think” protocol design is followed as most of the business functions are embedded under the token contract in order to achieve high efficiency between contract calls.<br>


# Overview

Fracton Protocol is designed to fractionalize any targeted NFT collections, allowing holders to own fractions of the NFT with little to no chances of getting ripped off.  With one Ethereum call into FractonFactory importing NFT contract address, the protocol automatically deploys fractionalized ERC1155 and ERC20 token contracts and creates a swap relationship paired to the imported ERC721 token collection, which provides 2 steps of fractionalization and liquidity (ERC721-ERC1155-ERC20).

The following flow chart illustrates the various functions of the Fracton protocol and the steps involved in achieving them:

<figure><img src="https://lh3.googleusercontent.com/pWP-Xx0IVijJyo_DafJBG3MogJ1Yx6m2C9WQmgfe9Exg5epOMKQw9cPICupU5lanJzSWlls338D3BIUo5EgZjLHThm4EIANnsX6CclVBm0KeR50o8TPQIDyt4W2WGFx7a5A4RUfcioB2KY8IgngLrBERNdYPNLlym0Gz8M9XAY7k-CGK6mY1Rgpgm-YR9w" alt=""><figcaption></figcaption></figure>

<br>


# Meta-Swap

Meta-Swap is an innovative mechanism of Fracton, referring to the One-Stop Swap for multiple token standards. Users can freely swap among ERC-20(hiNFT), ERC1155(People’s NFT), and ERC721(Original NFT) at a constant ratio in Meta-Swap. In addition, Meta-Swap can be seen as a reserve vault for every hiNFT collection.&#x20;

Users can Meta-Swap hiNFT to a randomized original NFT at the ratio of 1:1,000,000.


# Fraction and Redemption

Any non-fungible tokens (NFTs) can be fractionalized and redeemed back using a combination of three Ethereum token standards: ERC721, ERC1155, and ERC20. As shown in the flow chart, Fracton provides 2 steps of fractionalization (ERC721-ERC1155-ERC20) with a hardcoded swap rate (1:1000) on each step. The protocol leverages Chainlink VRF for swapping People’s NFT for a random NFT (of the target collection) held in the protocol.

<br>


# Swap NFTs in the same collection

The protocol allows users to swap their NFTs for a randomly selected NFT from a target collection. The protocol utilizes Chainlink's verifiable random function (VRF) to provide a secure and transparent method for selecting the random NFT. It is designed to allow users to trade and access a diverse range of NFTs, while also providing a new way for NFT holders to monetize their assets.

<figure><img src="https://lh5.googleusercontent.com/djyIRBEL9oeFv7QL9sSjN46R3kxa8_32fcacWSF9111VCH6IkjBcg8igIWtnV3L0LczvacAYGd76C550dfPweId071B5c95NMdv_FCfDU3XAyK4PJ1tUvpWEt8qgtDRPJY3gAXqYIPeYYxPTTUFy_bywBQ4JfpWp8gordY6ZOFieQSQ1ZQTQax6Qli8oXg" alt=""><figcaption></figcaption></figure>


# Key Innovations

## Pool-less Liquidity

Traditional swap relays on dedicated liquidity pools for swapping tokens. This requires initial liquidity and LPs for building the liquidity pool. Fracton Swap creates pool-less liquidity based on a “Left-Right-Exchange” mechanism. The swap always hold\&send tokens on the Left side of ERC721/ERC1155/ERC20 token pairs, and Mint\&Burn tokens on the Right side.

<figure><img src="https://lh5.googleusercontent.com/jsRAyw2HlbMCAxL09haEXsMyTOLsGPk85g1Ctweq2fBXQQ3pN9ylONBVcSHoiYHsvJYsmj4gCaqrGieWTAQ3bLdyEpic6ElPRoDFbkpeG_qSuwAv-WJoozeoUE2kuMTfpoRXw4JW-ACGzNNqgGsZzKCjgOYgFrrCf-cv4XmEKLuMklCtj8MOQISZBLGXRg" alt=""><figcaption></figcaption></figure>

## Stateless System

By reducing the frequency and the volume of adding data to the Ethereum state, Fracton tackles the state explosion problem by creating a “stateless system” that runs on the Ethereum mainnet with absolute cost efficiency.

Fracton protocol does not add any state variables to be updated for user actions. Furthermore, Fracton protocol reduces traditional token contract \_balance state variable updates which:

* Reduce >25% gas in token exchange compared to traditional swap, by its pool-less liquidity design, by mint/burn user address tokens instead of transferring between user address and swap.
* Reduce >50% gas compared to traditional swap in converting BlindBox into People’s NFT, by embedding BlindBox business logic into People’s NFT ERC1155 contract.

<br>


# Terminology

Three token standards comprise the operations of Fracton Protocol:

* ERC-721 - The original NFTs
* ERC-1155 - People's NFTs
* ERC-20 - hiNFTs


# ERC721 -> The Original NFT

ERC721 tokens, like the BAYC(Bored Ape Yacht Club), are the real asset in the BAYC Meta-Swap, serving as reserves backing the value of the hiBAYC token.&#x20;


# ERC1155 -> People's NFT

ERC1155 tokens are the middle-tier assets, connecting the original NFT and the liquidity token hiNFT in the system. The number of People’s NFT is directly anchored to the number of the original NFT.&#x20;


# ERC-20 -> hiNFT

The ERC20 token hiNFTs are the fractionalized token,  anchored to the number of People's BAYC  which can be exchanged back for the original NFT.&#x20;


# Fees

Fracton captures protocol fees from transactions and redemptions, where the proceeds flow into the Fracton DAO's treasury for future use cases.

### Transaction Fee

Fracton will charge a 0.2% fee, charged in form of hiNFTs, for each $hiNFTs' on-chain transaction.

### Redemption Fee

Users pay a 0.3% redemption fee, charged in form of hiNFTs, in the redemption process.


# Fracton Token($FT)

## Utilities:

<figure><img src="/files/iCovogBOi9cn7q6DApHd" alt=""><figcaption></figcaption></figure>

The Fracton token($FT) is a key part of Fracton infrastructure, as it serves as the governance token, encourages user participation, and is the primary payment token within the Fracton ecosystem.

## 1. Exclusive Access: The Gateway to More <a href="#ee46" id="ee46"></a>

FractonX isn’t just an upgrade; it’s a revolution to tackle more problems we in the trading space for illiquid assets. As we break the mold, moving beyond the traditional fractionalisation of blue-chip, high value NFTs, the realm of possibilities expands.

* Expand to the world of illiquid Assets: Our team, dedicated and sleep-deprived, is consistently breaking ground with novel asset ideas. From NFTs to Real World Assets (RWAs) and even MEMEs, the infrastructure of FractonX is a powerhouse of adaptability.
* Benefits Galore: In recognition of the trust placed in us, FT holders are in for a bonanza of benefits.

## 2. Governance: Voice of the People <a href="#id-56f8" id="id-56f8"></a>

Our philosophy is simple: those who are invested in our journey should steer our course. Governance is set to go democratic, letting FT holders shape the ecosystem’s destiny.

* Leadership and Rewards: Your voice in governance will not just influence outcomes but also determine your standing in the Fracton Points Leaderboard. It’s not just participation; it’s rewarding participation.

## 3. Real yield: The Fruits of Community Effort <a href="#id-112c" id="id-112c"></a>

At FractonX, every fractionalisation contributes to our collective treasury. It’s a model of shared growth.

* Growing Treasury: As the platform thrives, our treasury, brimming with hiNFT tokens, stands as a testament to shared success.
* Airdrops or Value Boost: Whether it’s through redistributing tokens or initiating a deflationary cycle, FT’s value proposition is set to skyrocket.

## Tokenomics:

$FT has a total supply of 100,000,000 tokens. Here is a breakdown of how these tokens will be distributed.&#x20;

<table><thead><tr><th width="179">Segment</th><th width="120.33333333333331">Allocation</th><th width="232">Function</th><th>Vesting terms</th></tr></thead><tbody><tr><td> DAO Treasury</td><td>51%</td><td>To grow the Fracton ecosystem and community.</td><td>No cliff period, 24 months vesting</td></tr><tr><td>Mining Incentives</td><td>14%</td><td>To incentive early adopters and active users</td><td>3-month cliff starting at TGE, followed by a 2-year equal monthly vesting</td></tr><tr><td>Funding</td><td>14%</td><td>Reserved to raise funding from strategic round and private/public sales</td><td>12-month cliff starting at TGE, followed by a 2-year equal monthly vesting</td></tr><tr><td>Advisors</td><td>5%</td><td>To reward advisors for the long-term success of Fracton</td><td>12-month cliff starting at TGE, followed by a 1-year equal monthly vesting</td></tr><tr><td>Team </td><td>10%</td><td>To compensate the core team members who developed the product and its infrastructures.</td><td>12-month cliff starting at TGE, followed by a 3-year equal monthly vesting</td></tr><tr><td>Marketing </td><td>3%</td><td>Reserved to create demand and influence taget audiences' behavior. </td><td>1% unlocked at TGE, the remaining 2% followed by a 2-month equal monthly vesting</td></tr><tr><td>IEO</td><td>3%</td><td>IEO token allocation is the distribution of tokens to participants in an Initial Exchange Offering.</td><td>50% unlocked at TGE, followed by a 2-month vesting</td></tr></tbody></table>


# hiNFT Tokens

hiNFT tokens are a series of NFT-backed ERC20 tokens, each series of hiNFT tokens is backed and reserved by a basket of NFTs which are fractionalized and stored on-chain.&#x20;

hiNFTs holders are able to gain exposure to their respective NFT collections, rather than buying individual NFTs directly. The value of the hiNFT tokens is determined by the value of the NFTs it holds.&#x20;

HiNFT landing page on Kucoin:

<https://www.kucoin.com/nft-token/intro>

As Fracton Protocol is actively listing new pairs of hiNFT tokens, a full list of hiNFTs and their respective details can be found on Fracton Protocol’s official website & below:

{% embed url="<https://www.fracton.cool/NFT-pool>" %}

| NFT                                     | hiNFT ticker | Coingecko                                                                               |
| --------------------------------------- | ------------ | --------------------------------------------------------------------------------------- |
| Azuki                                   | HIAZUKI      | <https://www.coingecko.com/en/coins/hiazuki>                                            |
| Bored Ape Kennel Club                   | HIBAKC       | <https://www.coingecko.com/en/coins/hibakc>                                             |
| Bored Ape Yachet Club                   | HIBAYC       | <https://www.coingecko.com/en/coins/hibayc>                                             |
| BEANZ                                   | HIBEANZ      | <https://www.coingecko.com/en/coins/hibeanz>                                            |
| Moonbirds                               | HIBIRDS      | <https://www.coingecko.com/en/coins/hibirds>                                            |
| CloneX                                  | HICLONEX     | <https://www.coingecko.com/en/coins/hiclonex>                                           |
| CoolCats                                | HICOOLCATS   | <https://www.coingecko.com/en/coins/hicoolcats>                                         |
| Doodles                                 | HIDOODLES    | <https://www.coingecko.com/en/coins/hidoodles>                                          |
| ENS3                                    | HIENS3       | <https://www.coingecko.com/en/coins/hiens3>                                             |
| ENS4                                    | HIENS4       | <https://www.coingecko.com/en/coins/hiens4>                                             |
| Fidenza                                 | HIFIDENZA    | <https://www.coingecko.com/en/coins/hifidenza>                                          |
| Fluf                                    | HIFLUF       | <https://www.coingecko.com/en/coins/hifluf>                                             |
| Invisible Friends                       | HIFRIENDS    | <https://www.coingecko.com/en/coins/hifriends>                                          |
| Gazers                                  | HIGAZERS     | <https://www.coingecko.com/en/coins/higazers>                                           |
| Mutant Ape Yachet Club                  | HIMAYC       | <https://www.coingecko.com/en/coins/himayc>                                             |
| Meebits                                 | HIMEEBITS    | <https://www.coingecko.com/en/coins/himeebits>                                          |
| Mfers                                   | HIMFERS      | <https://www.coingecko.com/en/coins/himfers>                                            |
| Otherdeed for Otherside                 | HIOD         | <https://www.coingecko.com/en/coins/hiod>                                               |
| Otherdeed for Otherside(Biogenic Swamp) | HIODBS       | [https://www.coingecko.com/en/coins/hiodbs](https://www.coingecko.com/en/coins/hiodbds) |
| Pudgy Penguins                          | HIPENGUINS   | <https://www.coingecko.com/en/coins/hipenguins>                                         |
| CryptoPunks                             | HIPUNKS      | <https://www.coingecko.com/en/coins/hipunks>                                            |
| Renga                                   | HIRENGA      | <https://www.coingecko.com/en/coins/hirenga>                                            |
| Sandbox Land 3x3                        | HISAND33     | <https://www.coingecko.com/en/coins/hisand33>                                           |
| Sappy Seals                             | HISEALS      | <https://www.coingecko.com/en/coins/hiseals>                                            |
| Chromie Squiggles                       | HISQUIGGLE   | <https://www.coingecko.com/en/coins/hisquiggle>                                         |
| Geniune Undead                          | HIUNDEAD     | <https://www.coingecko.com/en/coins/hiundead>                                           |
| Valhalla                                | HIVALHALLA   | <https://www.coingecko.com/en/coins/hivalhalla>                                         |

<br>


# $hiX & FractonX Genesis NFT

\*$hiX contract address\*

&#x20;0x8f6f24945093220713005738f50a9aa023928419

<figure><img src="/files/WpDMRxa4buHgUAImFbGU" alt=""><figcaption></figcaption></figure>


# Why Choose Fracton Protocol?

## Effortlessly trade and own blue-chip NFTs

Fracton’s hiNFTs are one of the most traded and liquid NFT ETFs. As of Jan 13th, 2023, there are currently 20 series of NFT collections that are fractionalized and listed on Kucoin, generating millions of volumes each day.

## Swap NFTs within the same collection

For NFT Holders who wish to swap for different traits' NFT in the same collection, he/she can permissionless do so on Fracton Protocol.

## Build on top of Fracton

Fracton’s negligible fees and smart contract architecture enable high composability for DeFi development. Fracton provides 2 steps of fractionalization (Raw NFT(ERC721)-pNFT (ERC1155)-hiNFT (ERC20)) with a fixed swap rate for target NFT collection.&#x20;

<br>

## &#x20;

## &#x20;

\ <br>


# Q\&A

## General

#### **What is the vision of the Fracton Protocol?**

Fracton is dedicated to becoming the standard of NFT fractionalization, making the ownership of NFT to be as frictionless as possible. At the same time, continue innovating new use cases using Fraction’s fractionalized NFTs as the base layer.

#### **What does NFT Fractionalization mean?**

NFT fractionalization refers to splitting one NFT into smaller pieces, thus allowing multiple people to gain partial ownership of the same NFT.

#### **What kind of NFT will Fracton Protocol support?**

We select only the top and high-potential NFT collections to be fractionalized. When stepping into a more mature stage, we hope to support the fractionalization of any NFT collections, which will be entirely decentralized and permissionless.

**Why should I trade Fracton’s hiNFT instead of the original NFT?**

hiNFT makes owning and trading blue-chip NFTs extremely accessible and affordable. Purchasing of fractionalized BAYCs can be as little as $1 on Fracton protocol. Secondly, the redemption function allows users to arbitrage, as well as dollar cost averaging into a Blue-chip NFT at a potential discount.

\
**Who owns the NFTs in Fracton’s meta swap pool?**

Once NFTs are fractionalized as the hiNFT tokens, they are securely reserved in Fracton protocol’s vault act to back up the value of hiNFTs. Therefore, the NFTs are collectively owned by hiNFT holders. Only hiNFT holders who own 1,000,000 tokens + fees are able to redeem one random NFT back.<br>

## About interacting with the protocol

#### How to redeem NFT?

The process for redeeming an NFT is straightforward, consisting of just two steps. First, acquire 1,006,009 hiNFTs, as redeeming the underlying NFT requires 1,000,000 of the hiNFT tokens and a \~0.6% redemption fee. You can buy these tokens on Kucoin. Then, withdraw them to your ETH wallet. From there, complete the redemption process on-chain at fracton.cool. It's as simple as that!&#x20;

**Why is the price of hiNFTs so volatile?**

Price fluctuations are higher for hiNFTs due to the nature of a more liquid product trading on CEX, especially during IEOs. It is important for traders to recognize that the price of hiNFTs should be close to the market price of its anchored NFT. If the price difference is too large, cautious trading is necessary.

**Can I use Fracton protocol for fractionalizing NFTs on Solana or Polygon?**

No. Currently, Fracton protocol only supports a selective series of high-end NFTs on Ethereum.&#x20;

**How can I check Fracton’s NFT reverses?**

All of the NFT collectibles are saved in the smart contract of the meta-swap pool, You can always check the smart contract address here to[ check the NFT reserves](https://opensea.io/0x7FEe302A14D6B945c0EB6dA9C4426c8D75d38a73).

**What is Meta-Swap？**

Meta-Swap is an innovative mechanism of Fracton, referring to One-Stop Swap for multiple standards tokens to break through the traditional exchange paradigm. Users can freely swap among ERC-20(hiBAYC), ERC1155(People’s BAYC), and ERC721(BAYC) at a constant ratio in Meta-Swap.

#### **What can I do with People’s BAYC？**

People's NFT is the middle layer in the fraction/redemption process, you can redeem them for a random BAYC from the Meta-Swap pool.

**Why is the supply of hiNFT keep changing?**

While each hiNFT token represents 1/1,000,000 of the original NFT, the supply varies depending on the trading activity of the hiNFT series. Therefore, like an ETF in the stock market, there is no direct relationship between supply and price. Naturally, the more people buy hiNFT, the higher supply, and vice versa.&#x20;

<br>

####


# Contact us

#### **If you have any questions, feedback, or collaboration proposals, please reach out to:**

**Discord:** [**https://discord.com/invite/fracton-protocol**](https://discord.com/invite/fracton-protocol)

**Telegram:** [**https://t.me/fractonprotocol**](https://t.me/fractonprotocol)

**Twitter:** [**https://twitter.com/FractonProtocol**](https://twitter.com/FractonProtocol)

**For project updates and the weekly NFT newsletter, please subscribe to our substack:**

[**https://fracton.substack.com/**](https://fracton.substack.com/)