Defishards Whitepaper
  • 💡INTRODUCTION
    • Overview
    • What problems are we solving and how?
    • Mission and Vision
    • Why build on NEAR?
  • 💡Our products
    • NFT Launchpad
    • NFT Marketplace
    • Do your own shard (DYOS)
  • 💡PROTOCOL MECHANICS
    • Vault
    • Burn
    • Transfer
    • Buy and Sell
    • Fee Structure
  • 💡Tokenomics
  • 💡Roadmap
  • 💡Conclusion
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  1. PROTOCOL MECHANICS

Vault

PreviousDo your own shard (DYOS)NextBurn

Last updated 10 months ago

Every DeFiShard NFT is associated with a unique vault, a smart contract designed to securely hold fungible tokens.

For each user, the typical process for minting a DeFiShard NFT involves the following steps:

Note: During the above transaction, apart from the actual minting price, a flat fee of 2 NEAR is applied, which is fully redeemable when the NFT is listed or burned. This specifies the true ownership of the user's assets.

The amount is set by default by the blockchain itself to secure the vault allocated to each user as part of deploying a single contract, preventing any kind of direct external attack.

Once the transaction is confirmed, the vault is automatically created, and the NFT is forged with a defined amount of tokens. This process ensures that each DefiShard NFT contains fungible tokens inside its associated vault, providing secure and efficient asset management.

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