NFT specs

Minting

• Mint Phase: Always open

• Mint Cost: 1 E280 NFT = 1 ELMNT NFT

• Process:

  • User submits an ELMNT NFT to Protocol (on Ethereum)

  • Protocol burns the NFT, and collects the ELMNT tokens inside (on Ethereum)

  • Protocol converts ELMNT to E280 and sends to Base chain (on Ethereum)

  • Protocol creates NFT backed by E280 tokens received (on Base chain)

  • User claims E280 NFT (on Base chain)

Supply

• Capped supply - E280 NFT is mintable only from ELMNT NFT which is a capped supply. So, the supply of E280 NFTs are capped at the total ELMNT NFT supply.

• Deflationary supply - Users burn NFT to claim E280 tokens