HABN is used to issue the M-BUN token, which is a mirror of the BUN token minted on the Cardano blockchain, to audit and record transactions within the Loot NFT ecosystem. LNFTxHABN is also expected to cater for high velocity bidding transactions when it meshes with the Cardano blockchain in the future through a bi-directional bridge.
HABN will also mint the NFTs for Loot NFT on LNFTxHABN and then burn them when a member requests to send it off Loot NFT. At that time, a newly issued NFT will be minted on the owner’s blockchain of choice (i.e., those available on the Loot NFT platform) together with the provenance information previously recorded in LNFTxHABN.
issuance of M-BUN token and minting of NFTs for Loot NFT