What does "Satoshis Locked Up" mean in an NFT transaction? Does it mean the more NFT transactions BCH attracts the more BCH will become deflationary? #BitcoinCash
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What does "Satoshis Locked Up" mean in an NFT transaction? Does it mean the more NFT transactions BCH attracts the more BCH will become deflationary? #BitcoinCash
Log in to join in Reading is open to everyone. Replying needs an account.
4 comments
Each SPL token, whether NFT or not, is bound to 546 satoshis. This is the smallest amount of satoshis that can be sent. To make an SLP transaction, these 546 satoshis must be sent. To prevent them from being sent with a normal BCH transaction, they are locked.
Locked meaning those 546 satoshis can't be spent until the slp token is burnt?
Yes
Excellent. Thanks.