"Never half-ass two things. Whole-ass one thing."
— Ron Swanson
Buckets is a set of smart contracts for easily and efficiently fractionalizing any ERC721 NFT into ERC20 tokens. There are no fees, no middlemen, and no trust involved. The contracts are unowned and the code is immutable.
The BucketFactory allows users to deposit ERC721 NFTs and mint corresponding ERC20 tokens. If an ERC20 token does not yet exist for the ERC721 contract, the BucketFactory will deploy a new lightweight clone ERC20Bucket contract.
Every deposited NFT mints 10,000 of the corresponding ERC20Bucket tokens to the minter or specified recipient. Why 10,000? Think basis points
Anyone with a balance greater than 10,000 of an ERC20Bucket token can call redeem to burn their tokens and receive specific ERC721 NFT(s).
An ERC20Bucket is an ERC20 token that represents a fraction of an NFT. Only the BucketFactory can mint new tokens or burn existing tokens.
- Nonstandard ERC721 contracts, especially those that do not have true immutable ownership or intentionally break composability of the ERC721 standard may be incompatible with
Buckets. ERC20Bucketnames andsymbols will break if someone tries to get cheeky and deploy a contract with a name or symbol longer than ~65,500 bytes. Consider it a feature, not a bug.