Redeeming NFT

To leverage arbitrage opportunities you can use the Redeem functionality on the protocol.

Redeeming

Navigating from the Overview page to the Redeem page you can see more information about Redemptions.

Selecting the Redeem button opens a modal where you can enter the amount of NFTs to redeem. The protocol will tell you how many you can redeem based on the amount of Fungify NFT Index Tokens in your wallet.

Select the Redeem button

Enter the amount you want to Redeem

When ready you can Redeem.

Redeeming will return to you a random NFT as well as any change you are entitled to.

Seeing Which NFT You Redeemed

After redeeming you can wait for the transaction to process to see which NFT you receive. It will show you the NFTs and the change you receive back.

When the transaction finishes it will also show up in your Transaction History.

You can also see redemptions notifications in the Transaction History notifications

Navigating to the Transaction History provides you with details of your redemption

Change

Redeeming will require you to send an amount of NFT equivalent to the collection with the highest Redemption Price in the Index. If a different collection is selected then after redeeming you will also receive back the difference between the amount you sent and the collection's Redemption Price.