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hiDOODLES
About hiDOODLES
hiDOODLES (HIDOODLES) represents an innovative approach in the digital asset space, merging the realms of NFTs and digital currencies through a fractional ownership model. By leveraging the Ethereum blockchain and smart contract technology, it offers a unique investment vehicle within the NFT market, making it accessible to a broader audience. The mechanism of hiDOODLES, backed by Doodles NFTs and operated without centralized control, underscores the evolving landscape of digital assets and their potential to democratize access to high-value NFTs. For those interested in the NFT market, hiDOODLES offers a novel way to participate with reduced barriers to entry.
hiDOODLES is a unique digital asset that operates as an NFTETF (Non-Fungible Token Exchange Traded Fund) token, specifically designed to be backed by Doodles NFTs (Non-Fungible Tokens). It functions within the ecosystem of the Fracton Protocol, utilizing smart contracts to facilitate operations automatically. The token is designed so that each hiDOODLES token represents a fractional part (1/1,000,000) of the Doodles in an on-chain Doodles Meta-swap pool. This structure ensures that no single entity has control over the tokens, and it allows users to redeem Doodles NFTs from hiDOODLES tokens with a minimal redemption fee of 0.6%.
The primary use of hiDOODLES is to provide a bridge between the world of non-fungible tokens (NFTs) and traditional digital currencies by creating a fractionalized ownership structure over Doodles NFTs. This innovative approach allows investors and users to gain exposure to the NFT market without needing to own a whole NFT, making it more accessible and liquid. The total supply of hiDOODLES tokens is directly correlated with the number of Doodles NFTs in the meta-swap pool, highlighting its unique mechanism for ensuring liquidity and accessibility to the NFT market.