Redemption is a feature that enables users to claim ownership of NFT (random NFT or target NFT) in a Vault by Stable Coin.
If you want to choose a specific NFT from the vault, you can do that too, but there will usually be an additional fee of 4% to 6%.
Based on the current LP ratio, the system calculates the corresponding amount of STABLECOIN required to redeem 01 specific NFT from each Pool.
To redeem a specific NFT from the vault, you will need to pay a Targeted Redeem fee. This fee is typically around 6% or 106% of the current market price.
If you want to redeem an NFT from the vault, you need to enter the quantity you want (in whole numbers) next to the "Random" section in the redemption basket. After that, approve the NFTFeed contract. Once the approval transaction is confirmed, you can redeem the desired number of NFTs from the vault.
Keep in mind that there's a fee to do a random redemption, which is usually around 4%.
You can choose the NFT you want to redeem from the vault by selecting it and adding it to the redeem basket. But keep in mind that each targeted redemption requires 100% of the price + the fee set by the vault creator for targeted redeems.
By default, this fee is set to 6% when the vault is created, but the creator can change it before finalizing the vault. After that, the fee can only be updated by the DAO via a governance vote.
Redeeming fee
Random Redeem & Target Redeem fee is set by Vault Owner
20% will be sent to Sharing Pool, 40% to DAO, 20% to Dev,20% to Collection owner.
