What is an IFT?
Partyhat (PHAT) is an indivisible fungible token (IFT) on the Arbitrum one Ethereum layer-2 scaling solution. Token explorer page here.
Launched early September with the initial Arbitrum wave, it has established itself as the memecoin of note, second only to Arbidoge.
It has a maximum supply of 1000, it has 0 decimals, and also a limit of 1 hat per transfer. The liquidity has been burnt irrevocably.
An IFT acts as both a method of fair distribution, and as an approximation for the tokenomics of an NFT. Indivisible refers to the 0-decimals, and fungible refers to the stackability of the token. Did you now that not every NFT is actually an NFT? Some are quite fungible. Ours will be too.
Furthermore, an ERC-20 to ERC-1155 1:1 one-way conversion contract completes the NFT functionality. There are 6 different colors of ERC-1155 Partyhats, each with different rate of mint. Minting is 1:1 and one way -> there can only ever be a maximum of 1000 Partyhats between both versions at any point.