hiPUNKS is a fractional token that is backed by CryptoPunks NFTs. Each hiPUNKS token represents 1/1,000,000 of a CryptoPunk and is part of an on-chain Meta-swap pool operated by Fracton Protocol. The circulating supply of hiPUNKS is equivalent to the total supply, which is based on the actual number of CryptoPunks in the Meta-swap pool. This information can be monitored using the public address 0x7FEe302A14D6B945c0EB6dA9C4426c8D75d38a73. The NFTs in the Meta-swap pool can also be viewed on Opensea. With a 100% reserve guarantee, users have the ability to redeem a CryptoPunk from Fracton Protocol at any time.

hiPUNKS is an NFTETF (Non-Fungible Token Exchange Traded Fund) token backed by CryptoPunks NFTs (Non-Fungible Tokens). One hiPUNKS token represents 1/1,000,000 CryptoPunks in an on-chain CryptoPunks Meta-swap pool operating automatically on the Fracton Protocol's smart contracts. No one has the authority to control them, and it's also permissionless for users to redeem CryptoPunks NFTs from hiPUNKS tokens with only a 0.6% redemption fee.

The total supply of hiPUNKS tokens depends on the number of CryptoPunks NFTs in the meta-swap pool. There is no hard cap for hiPUNKS. For every CryptoPunks NFT in the pool, there are 1,000,000 hiPUNKS tokens in circulation.

hiPUNKS is an Ethereum-based, ERC-20-compatible token. As such, it is secured by Ethereum's state machine.

hiPUNKS tokens are available on various platforms, including decentralized exchanges and centralized cryptocurrency exchanges: [Uniswap](https://BYDFi.com/exchanges/uniswap-v2/), [BYDFi](https://BYDFi.com/exchanges/BYDFi/).