hiUNDEAD price

HIUNDEAD

hiUNDEAD is a cryptocurrency token that operates on the Ethereum blockchain, utilizing the ERC-20 token standard which ensures compatibility with the vast ecosystem of decentralized applications on Ethereum. This token is part of an innovative approach to the Non-Fungible Token (NFT) market, acting as a Non-Fungible Token Exchange Traded Fund (NFTETF). Essentially, it allows investors to gain exposure to a collection of NFTs without needing to own the NFTs directly.

The core of hiUNDEAD's functionality lies in its backing by Genuine Undead NFTs. These are a specific collection of NFTs that the token represents. The mechanism is facilitated through an on-chain meta-swap pool that operates on the Fracton Protocol's smart contracts. This setup is designed to be autonomous and permissionless, offering a straightforward way for users to redeem Genuine Undead NFTs by using hiUNDEAD tokens. A nominal redemption fee of 0.6% is applied to these transactions.

The supply of hiUNDEAD tokens directly correlates with the number of Genuine Undead NFTs in the meta-swap pool. For each NFT, 1,000,000 hiUNDEAD tokens are minted, indicating that the token supply is flexible and adjusts according to the pool's size. This unique supply mechanism does not set a hard cap on the total number of hiUNDEAD tokens.

Security for the hiUNDEAD network is provided by the underlying Ethereum blockchain. Being an ERC-20 token, hiUNDEAD benefits from Ethereum's robust and tested security measures, which protect against various network attacks.

For those interested in acquiring hiUNDEAD tokens, they are accessible through a variety of platforms, including both decentralized and centralized exchanges. This accessibility ensures that investors and enthusiasts can easily participate in the ecosystem surrounding hiUNDEAD.

As with any cryptocurrency investment, it's important to conduct thorough research and consider the risks involved. The innovative nature of NFTETFs like hiUNDEAD presents new opportunities within the blockchain and NFT spaces, but understanding the specific mechanics and market dynamics is crucial for informed investment decisions.

The hiUNDEAD network leverages the robust security framework of the Ethereum blockchain, being an ERC-20-compatible token. This means it is protected by the same cryptographic and consensus mechanisms that secure Ethereum, one of the largest and most secure decentralized platforms. Ethereum's security is ensured through its proof-of-work (now transitioning to proof-of-stake) consensus mechanism, which requires network participants to agree on the state of the blockchain, making it extremely difficult for malicious actors to manipulate or compromise the network.

Furthermore, hiUNDEAD's integration with the Fracton Protocol's smart contracts adds another layer of security. These smart contracts are designed to operate automatically, without the need for centralized control, reducing the risk of human error or manipulation. The permissionless nature of redeeming Genuine Undead NFTs from hiUNDEAD tokens, with a minimal redemption fee, ensures transparency and fairness in transactions.

However, it's crucial for users to remember that while the hiUNDEAD network and the Ethereum blockchain provide a secure foundation, the overall safety of their assets also depends on the practices of the individual users and the platforms they choose to interact with. Users are advised to conduct thorough research and use reputable staking and trading platforms to minimize risks. Always ensure the security of your private keys and exercise caution when engaging in transactions or investments in the cryptocurrency space.

hiUNDEAD serves as a multifaceted ERC20 utility token within the cryptocurrency ecosystem, particularly in relation to NFTs and the broader blockchain technology landscape. Its primary application is within Hunt Town, where it is utilized to lock-up and bind with NFTs. This mechanism ensures that hiUNDEAD tokens can only be released after a specified lock-up period has concluded. Upon the completion of this period, the locked-up tokens are returned to the Ethereum wallet address responsible for generating the burning transaction of the Building NFT. This process underscores the token's utility in enhancing the security and integrity of NFT transactions and ownership.

Beyond its specific use in Hunt Town, hiUNDEAD also finds application in staking, trading, and as a medium of exchange within the cryptocurrency world. Its versatility extends to potential use cases in supply chain management and the tokenization of traditional assets, showcasing the broad applicability of hiUNDEAD in various sectors. This wide range of uses not only highlights the token's flexibility but also its potential to contribute to the efficiency and transparency of different blockchain-based applications.

As an NFTETF token, hiUNDEAD is backed by Genuine Undead NFTs, with each token representing a fraction of the Genuine Undead in an on-chain meta-swap pool. This setup, operating automatically on the Fracton Protocol's smart contracts, ensures that hiUNDEAD remains decentralized and permissionless, allowing users to redeem Genuine Undead NFTs with a minimal redemption fee.

The circulation of hiUNDEAD tokens directly correlates with the number of Genuine Undead NFTs in the meta-swap pool, emphasizing its unique relationship with the NFT market. Being based on the Ethereum network, hiUNDEAD benefits from the robust security measures of Ethereum's state machine, ensuring the safety and integrity of transactions.

For individuals interested in acquiring hiUNDEAD, it is accessible on various platforms, including both decentralized and centralized exchanges. This accessibility facilitates the participation of a wide range of users in the hiUNDEAD ecosystem, further enhancing its utility and potential for growth within the cryptocurrency and blockchain space.

It's important for potential investors and users to conduct thorough research and consider the dynamics of the cryptocurrency market before engaging with hiUNDEAD or any digital assets.

hiUNDEAD, as a cryptocurrency, represents an innovative approach within the digital asset space, specifically focusing on the intersection of non-fungible tokens (NFTs) and traditional financial instruments. This token is part of a broader trend that sees the merging of unique digital assets with mechanisms typically associated with the stock market, such as exchange-traded funds (ETFs). By backing each hiUNDEAD token with a fraction of a Genuine Undead NFT, it creates a bridge between the collectible NFT world and the more liquid cryptocurrency markets.

Given its nature as an NFTETF, hiUNDEAD operates on a unique premise, leveraging the Fracton Protocol to facilitate on-chain meta-swaps. This protocol enables users to redeem Genuine Undead NFTs using hiUNDEAD tokens, introducing a novel method for interacting with NFT assets through a fractional ownership model. The inclusion of a minimal redemption fee further streamlines this process, making it accessible and relatively cost-effective for users interested in both the NFT and cryptocurrency sectors.

The security of the hiUNDEAD network is underpinned by its foundation on the Ethereum blockchain. Utilizing the ERC-20 standard, it benefits from Ethereum's robust security measures and widespread compatibility with various wallets and exchanges. This ensures that hiUNDEAD tokens can be securely held, transferred, and traded across a broad ecosystem of platforms.

For those looking to acquire hiUNDEAD tokens, they are accessible through a mix of decentralized and centralized exchanges. This availability across different types of trading platforms enhances its accessibility to a diverse range of investors and users within the cryptocurrency community.

It's important for potential investors and users to conduct thorough research and consider the inherent risks associated with investing in cryptocurrencies and NFTs. The innovative blend of NFT elements with cryptocurrency mechanisms that hiUNDEAD offers is indicative of the evolving landscape of digital assets, reflecting new opportunities for engagement and investment within the blockchain domain.