Manifold Burn-Redeem Apps allow you to create a minting page for collectors to mint new editions by burning existing Ethereum NFTs.
The Burn-Redeem App is free and available to use at no cost to the creator, but charges the collector 0.00069 ETH per edition minted for single-token burns and .00099 ETH for multi-token burns.
How does it work?
The current framework for Burn-Redeem Apps requires creators to configure a redeem token and burnable token.
For ERC-1155s, a Burnable token can be any ERC-1155 token on Ethereum Mainnet.
For ERC-721s, creators can configure one of three possible types of Burnable tokens
Any tokens on an existing ERC-721 contract (e.g. all tokens on contract 0x123)
Tokens within a specific tokenID range on an existing ERC-721 contract(e.g. tokens 1-40 on contract 0x456)
Specific tokenIDs on an existing ERC-721 contract (e.g. tokens 1,3,7,8,9, and 12 on contract 0x789)
The Redeem token is created during configuration of the Burn-Redeem app, and can be on any of the creator’s existing ERC-1155 contracts or ERC-721 contracts.
Burn-Redeems enable the burning of any amount of the burnable token for one redeem token. However, collectors can mint as many redeem tokens in one transaction as they’re able to. So if the redemption is 5-to-1, and a collector owns 15 burnable tokens, they can mint up to 3 redeem tokens in one transaction.
Manifold Burn-Redeems support burning any amount of ERC-721 tokens for the redeem token.
Creators can select a start and end-date for the redemption (or choose to leave it open forever), and can also choose whether or not to cap the supply of the redeemed token.
The Burn Redeem App allows creators to set multiple burnable tokens for a given redemption, by clicking on the "Add Additional Token" button configuration. This allows creators to require multiple distinct tokens to be burned in order to mint the new token, instead of just one 1155 token or one 721 token.
Burn-Redeems on Manifold contracts utilize a “true” burn, which means that the burned tokens will be destroyed on the blockchain and effectively cease to exist - as opposed to simply being sent to the BurnAddress. The total on-chain supply for the burnable token will decrease with every burn.
Some non-Manifold contracts, however, don't have a burn() function. For these contracts, the tokens will be sent to the 0xdead address, and will still exist without reducing the collection supply. You'll know if this is the case for a token if it says "Limited Burn Support" after you input the contract address.