HiPUNKS is an NFTETF token backed by CryptoPunks NFTs. Each HiPUNKS token represents 1/1,000,000 CryptoPunks in an on-chain CryptoPunks Meta-swap pool operating on Fracton Protocol's smart contracts. Users can redeem CryptoPunks NFTs from HiPUNKS tokens with only a 0.6% redemption fee. The total supply of HiPUNKS tokens is dependent on the number of CryptoPunks NFTs in the pool. HiPUNKS is an Ethereum-based, ERC-20-compatible token available on decentralized and centralized exchanges like Uniswap and KuCoin. There is no hard cap for hiPUNKS, and it's permissionless, allowing users to redeem NFTs at any time.
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