hiVALHALLA is an NFTETF (Non-Fungible Token Exchange Traded Fund) token that is backed by the Valhalla NFTs (Non-Fungible Tokens). One hiVALHALLA token represents 1/1,000,000 Valhalla in an on-chain Valhalla Meta-swap pool operating automatically on the Fracton Protocol's smart contracts. No one has the authority to control them, and it's also permissionless for users to redeem Valhalla NFTs from hiVALHALLA tokens with only a 0.6% redemption fee.