hiBIRDS is an ERC-20 token representing 1/1000000 ownership of one Moonbirds NFT in the Meta-Swap pool of Fracton Protocol. For each Moonbirds NFT added to the pool, the total supply of hiBIRDS will increase by 1 million. In contrast, for each Moonbirds NFT redeemed from the pool, the total supply of hiBIRDS will decrease by 1 million.

Fracton Protocol is an NFT liquidity infrastructure with a two-step fractionalization (ERC721-ERC1155-ERC20), and it provides permissionless liquidity and oracle for all kinds of NFTs. Based on a deeply reformed ERC1155 middle layer standard, Fracton is building a non-status smart contract system to increase the protocol’s efficiency, lower gas fees, and maximize asset security.