Depositing NFT

To leverage arbitrage opportunities or to diversify your exposure to NFTs by trading in your NFTs for Fungify NFT Index Tokens you can use the Deposit functionality on the protocol.

Depositing

Navigating from the Overview page to the Deposit page you are able to select the NFT collection in the drop-down.

Navigate to the Deposit page

From there you can enter in the amount of NFTs you want to deposit. The protocol will pick from the NFTs in your wallet at random. If you wish to select specific NFTs then you can click "Manually Select NFTs" and select the specific ones you want.

Enter the amount of NFTs you want to deposit

You can manually select the NFTs you want to deposit

Afterwards you're able to see how many Fungify NFT Index Tokens you'll receive and you can proceed with the swap.

Once ready you can swap

Bonuses and Fees

Fungify will incentivize users to balance the Index by giving more or less Fungify NFT Index Tokens depending on how out of balance the Index is. This is reflected in the Bonus. You can see the current Bonus for the collection in the details. This number, however, is only for the next NFT deposited. If you are depositing multiple NFTs this can change the amount of total Bonus you will receive. You can see the total Bonus or Fees in the Details section to help inform your decision on how many NFTs you want to deposit.