Redemption

Redeem wNFTs for NFTs

Why redeem NFTs?

Through the redemption, you are able to obtain ownership of underlying NFTs in Litra Vault. To redeem an NFT, you can acquire a wNFT in the same collection through Litraswap or decentralized exchanges and subsequently redeem the wNFT for the NFT you want.

Redeeming NFTs

Select an NFT collection

After obtaining wNFTs, you can select an NFT collection to redeem.

Please remember, one wNFT can redeem one NFT in the same collection. By clicking the NFT collection, you enter the specific wNFT page.

To redeem the NFT, click UNWRAP and select the NFT you would like to redeem from the NFT Token ID.

Then click UNWRAP and confirm in your wallet to unwrap and redeem the NFT.

Unwrap fee

For a redemption fee, it will be distributed 100% to the Litra DAO. The fee rate is set to a default of 0% during the test phase, and the DAO can update the fee rate via a governance vote.

For example, with a 1% unwrap fee rate, you need 1.01 wNFT to redeem the specific NFT.