The general flow of GumBall Protocol is as follows:
- 1.Creator launches NFT collections on GumBall Protocol
- 2.User's purchase the corresponding GumBall Token (GBT) from the collection's ERC20 bonding curve.GBT is an ERC20 token. Each collection has its own specific GBT
- 3.Users may stake their GBTs for swap fees and may further borrow against them.
- 4.Users may send 1 GBT to the GumBall Machine contract to receive a GumBall NFT (gNFT) from the collection.
gNFT is an ERC721 NFT
- Users may choose to either mint a new gNFT from the collection or choose an existing gNFT that has been returned to the contract.
- 5.Users may then:
- 1.Hold the gNFT as part of their general NFT collection
- 2.Swap gNFT back to GBT
- 3.Swap gNFT for another gNFT in the same collection (re-roll)
- 4.Auction their gNFT on other markets such as OpenSea