Converting HyPC Tokens to CHyPC NFT

index

Introduction

Section 1: What’s Needed

Section 2: Converting HyPC Tokens to a CHyPC NFT

Conclusion and What’s Next

Other “How-To” Guides

Introduction

HyperCycle empowers users to participate meaningfully and democratically in the Internet of AI by becoming Node Factory Owners, Operators, and Developers. The recommended user journey into – and within – the HyperCycle Network begins with conversion of HyPC tokens from Ethereum to the native HyperCycle Network. The following guide illustrates the token conversion process using our dApp: https://dapp.hypc.ai/.

Section 1:
What's Needed

The HyperCycle Node Factory (NF) is an essential component of the HyperCycle Network, enabling and facilitating direct communication between AI agents and allowing for speedy processing of ledgerless micropayments.
The two building blocks of the NF are:

1) A HyperCycle Software License in the form of an ERC-721 NFT, available from the Node Market License Distributor, and

2) 1,024 CHyPC tokens in the form of a matching Level ERC-721 NFT.

There are various Levels of Node Factories, each containing 2ⁿ CHyPC tokens and (2ⁿ ) × 1,024 CHyPC tokens. An NF Level is defined as 10 + n. For example, when n = 5, a Level 15 NF contains:

2⁵= 32 HyPc Licenses
32 × 1,024 = 32,768 CHyPC tokens.

To create a Node Factory, users must have matching Levels of both the License NFT and the CHyPC NFT. This is accomplished by converting the ERC-20 HyPC tokens on Ethereum to the specific CHyPC Level that matches the user’s License.

Below are the steps for converting 32,768 ERC-20 HyPC tokens to a Level-15 CHyPC ERC-721 NFT that can then be married to a Level-15 HyPC License to create a Level-15 Node Factory, which will contain 32 Licenses and 32 × 1,024 cHyPC tokens.

Let’s get started!

Section 2:
Converting HyPC Tokens to a CHyPC NFT

Step 1: Connecting to the dApp

A) Connect your EVM-compatible wallet (e.g., MetaMask) to the dApp. The MetaMask browser extension works well with Brave or Chrome. Ensure you’re on the Ethereum network.

B) Select the “Browser wallet” from the menu and wait for the pop-up message from MetaMask (or whichever wallet you're using). DO NOT select ”MetaMask” or “Other Wallets” directly from the menu! Sign in to approve the connection.

C) Click the “Convert” tab to access the token manager:

Step 2: Approving HyPC Spending Limit

A) The double arrow (circled in green) controls the direction of the token conversion process. In this case, we want the direction to be from HyPC (upper field C) to the cHyPC (lower field D).

B) Use the “Convert Level” dropdown menu to select the desired CHyPC Level to match your license for the future Node factory creation. In this case, Level 15 was selected.

C)The selection above automatically populates the amount of ERC-20 HyPC tokens needed for a Level-15 conversion. This is the minimum wallet balance required for the conversion process. Your wallet’s HyPC balance appears below.

D) The CHyPC field (D) automatically populates the amount of CHyPC NFTs that will be created (in this case, 1) and how many existing CHyPC NFTs of that Level are in your wallet (in this case, 0).

Note: CHyPC NFTs can only be created – or released – one at a time.

E) The total balance inside the “Your CHyPC” field (on the right) is 0.

F) Click “Approve” and sign the transaction in MetaMask to approve spending 32,768 HyPC tokens. Wait for the transaction to complete. You’ll be taken to the “Convert” window:

Step 3: Converting ERC-20 HyPC to CHyPC ERC-721 NFT

A) Once approval is complete, ensure that all fields, including the direction of the arrow in green, are unchanged.
Tip: The “Convert Level” always defaults to Level 10, so if the page was refreshed or any action other than the Approve in Step 2 above was done, it is important to select the desired Level again.

B) Click “Convert” and sign the transaction in MetaMask.

Step 4: Viewing CHyPC on the dApp

A) The conversion is now complete. One Level-15 CHyPC NFT is displayed in the CHyPC field on the right. It has a unique ID# which can be used for actions such as releasing the HyPC back to Ethereum.

B) The fields on the left always revert to the last action that was performed – in this case, a Level-15 conversion to CHyPC. The following changes are reflected in the value fields: ”1” is now displayed in the CHyPC field and the remaining HyPC balance has decreased by 32,768 tokens. The “Approve” button remains active for another conversion.

Conclusion and What’s Next

Now that you’ve minted a CHyPC NFT, you’re ready to take the next step on your HyperCycle journey by creating a Node Factory, using the Shares tab on the HyperCycle dApp. The dApp will automatically recognize both the License and the CHyPC NFT in your wallet. For navigation tips and instructional videos, check out our YouTube channel.

Need additional help converting HyPC to CHyPC? Watch our “Convert” video guide: