Card Minting/Burning
ERC404 allows for endless possibilities for minting new non-fungible assets, whilst keeping the token supply limited. (i.e. 100k $JUTSU tokens in supply equates to 100k unique Jutsu Cards at any point in time).
Card Minting
Typically, the ERC404 specification mints an non-fungible asset to ensure that the amount of assets is reflected by the number of whole tokens. The mechanism for minting Jutsu Cards is similar for $JUTSU.
Jutsu Cards are generated based on a weighted probabilistic algorithm when the following criteria are met for each wallet:
Wallet needs to hold more than 1 whole $JUTSU token for a Jutsu Card to be minted; and
Perform the following action(s) to trigger a re-roll:
Purchased or re-purchased at least 0.5 $JUTSU tokens via the $JUTSU Liquidity Pool (LP) on dojo.trading.
Re-rolled via the site gallery where rolls are triggered without LP purchases and fees go directly to Jutsu World
It is possible to obtain an invalid card in $JUTSU should these conditions not be met. Invalid cards may be easily resolved by using the re-roll mechanism on the site gallery.
Card Burning - (FILO)
Depending on the implementation of the particular ERC404, burns are applied on either the latest 2 NFTs or the earliest 2 non-fungible assets that the token collection has come to represent.
In the case of Jutsu World, our implementation is based on a FILO Card Burning Mechanism.
Example
Say Wally starts with an empty wallet and buys 3 $JUTSU, his bag of $JUTSU would then represent 3 Jutsu Cards. Let's assume the order of these NFTs from the first token to be Card A, Card B, and Card C.
If the implementation of the ERC404 is First in First Out (FIFO) and Wally sells 1 $JUTSU, then Card A would be burnt, leaving only Card B and Card C. However, if the implementation of the ERC404 is First in Last Out (FILO)
However, if the implementation of the ERC404 is First in Last Out (FILO) and Wally sells 1 $JUTSU, then Card C would disappear leaving only Card A and B.
Since Jutsu World adopts a FILE Card Burning Mechanism, Card C would be burnt.
Re-Rolls/Re-Mint
Typically, re-rolls/re-mints are achieved by simply selling a fraction and then buying back the fraction to trigger a Burn and a Mint. Depending on the ERC404 implementation, the user may also lock particular assets so that the Burn is targeted.
$JUTSU implements all of the above, and therefore actions typical to other ERC404 are available to the user.
However, $JUTSU has also implemented a direct re-roll/re-mint that does not rely on triggering Burn/Mints via a Sale/Purchase, and instead by interacting with the primary contract directly. We belive that this saves the user the hassle of locking, and affords him a superior re-rolling experience.
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