Simple Explainer: You can get NFTs from PIPX Vaults using the xToken which represents the NFT within the Vault in a 1:1 Ratio.

PIPX introduces a redeem interface that allows you to easily get an NFT from the Vault!

PIPX allows you to easily redeem your minted ERC20 Vault Tokens (xTokens) for either a random or targeted NFT within the vault.

Why redeem an NFT?

Redemptions allow users to take ownership of an underlying NFT from within a vault. This means that a user can go to an AMM like SushiSwap, purchase a single xToken like DHD and use that token to claim a random Diamond Hand Dragon from the DHD Vault.

For an additional fee, usually 5% (1.05 xTokens), users are able to select a specific NFT from the vault.

Redeeming Step-by-Step

xToken Balance

When you visit the Vault ( Redeem Tab) and connect your wallet, your xToken and BNB token balances will be displayed on the right-hand. Each xToken represents a claim on a random NFT from within its vault.

You can also target redeem specific NFTs from the vault by paying the Targeted Redeem fee — often 5% or 1.05 xTokens.

Don't have any xTokens? Visit the DaPP to browse the available vaults. Once inside the vault you can click on "Sushiswap" and pick it up from SushiSwap.

Redeeming — Random

To redeem an NFT you must enter the quantity you would like to redeem (in whole numbers) next to the "Random" section in the redemption overview and approve the PIPX contract. Once the approval transaction has been confirmed, you will then be able to redeem the desired number of NFTs from the vault.

Redeeming — Targeted

The option to choose the NFT you wish to redeem from the vault.

Select the NFT you wish to redeem from the vault and they will be added to the redeem overview. Note that each targeted redemption will require 1 xToken plus the fee set for targetted redeems on the vault. This fee defaults to 5% on vault creation, but can be changed by the vault creator prior to finalizing the vault. ( Once finalized, the fees can only be updated by the Pi Project via a request.)

If the vault is left at the default settings, each targeted redemption will cost 1.05 xTokens.


Can I redeem from a vault without a xToken?

Users must have a xToken in their wallet balance to redeem from a vault. To browse the available vaults and vault NFTs, please visit the DaPP Homepage.

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