Unwinding D2 PUNK fund

Unwinding D2 PUNK fund

As part of the migration from NFTX V1 -> V2 the platform will no longer support D2 funds like PUNK.

What is the PUNK D2 fund?

The PUNK D2 fund was a balancer pool that was made up from

  • 20% Punk-Basic
  • 20% Punk-Attr-4
  • 20% Punk-Female
  • 20% Punk-Attr-5
  • 20% Punk-Zombie

This provided you with an opportunity to invest in CryptoPunks and track their value as the price for different traits moved up or down.

Why are you unwinding the fund?

During the past 6 months of active use for NFTX we have seen an almost exclusive desire for people to create/buy/sell into floor vaults, and very little interest in custom trait vaults or the D2 vaults that are made up from D1 vaults.

With the launch of V2 NFTX, the DAO voted to merge some of the exsting V1 vaults and sell off some of the others — you can view proposal XIP10 to read more.

The TL;DR version for PUNK was

  • Combine Punk-Basic, Punk-Attr-4, Punk-Female into a single floor vault called Punk.
  • Sell the Punk-Zombie and Punk-Attr-5 holdings at market value and distribute the sales to token holders (i.e. if you owned 0.5 Punk-Zombie tokens and the Punk Zombie was sold for 450ETH, you would receive 225ETH in exchange for the token).

How do I unwind my position on D2 PUNK fund

Step 1

Go to https://classic.nftx.org/#/fund/16, after you have connected your wallet then click redeem on the dropdown.

Click on "Redeem" on the right

Step 2

Click on Approve and redeem, and in return for ever 1 PUNK you will receive 1000 PUNK-CORE.

Step 3

Go to https://pools.balancer.exchange/#/pool/0x04df4fbb6a003d1db3dd83d6d3b9951455837fff/ on balancer and click "Remove liquidity".

This is the screenshot of the DAO removing their PUNK position from Balancer

Step 4

After removing the liquidity you will have all of the relevant underlying tokens.

For Punk-Basic, Punk-Female, and Punk-Attr-4 you can go to https://app.nftx.org/migrate and migrate those across to the new Punk floor vault token on V2.

For Punk-Zombie and Punk-Attr-5 you will need to hold until the sales are completed and we can distribute the fees (est. end of August 2021)

Read below...

Claiming Punk-Zombie and Punk-Attr-5 tokens

You can now redeem ETH from the v1 buyouts for the following tokens: PUNK-ATTR-5, PUNK-ZOMBIE, AVASTR-RANK-60

Step 1: approve a sufficiently large amount of the token for transfer

Go to the token contract

Click "Connect to Web3" button and connect to your wallet click "1. approve" function and enter the following parameters

  • spender (address): 0xbA88803BBFc17963fE7711668209A0eFb6f89075
  • amount (uint256): 99000000000000000000
  • click "Write" and send the transaction

Step 2: redeem ETH from claim contract

Go to this address:

Click "Connect to Web3" button and connect to your wallet

Click "3. claimETH" function and enter the v1TokenAddr (address) of the token you wish to redeem

  • PUNK-ATTR-5, then enter 0xAB9c92A9337A1494C6D545E48187Fa37144403c8
  • PUNK-ZOMBIE, then enter 0xF18ade29a225fAa555e475eE01F9Eb66eb4a3a74

Click "Write" and send the transaction.

Need more help?

If you aren't able to follow along with the instructions above, or if you have any questions that haven't been answered please visit #support on discord.