How to Vault Stacks NFTs with Emblem
What is Stacks?
If you’re a Bitcoin user, you may have heard about Stacks — a blockchain technology that aims to bring smart contracts and decentralized applications (DApps) to the Bitcoin ecosystem. What’s exciting about Stacks is that it does this without changing any of the features that make Bitcoin so powerful and secure.
At the heart of Stacks is the Stacks token (STX), which is used to power smart contracts, process transactions, and register new digital assets on the Stacks 2.0 blockchain. This means that developers can build new tools and applications on top of Bitcoin without needing to fork or change the original blockchain.
One of the most interesting things about Stacks is its use of a novel consensus mechanism called Proof of Transfer (PoX). This allows Stacks to settle transactions on the Bitcoin blockchain, leveraging Bitcoin’s security and stability. PoX also has a sustainability benefit — by reusing the electricity already spent to secure Bitcoin, Stacks allows developers to create more value from energy that has already been expended.
Overall, Stacks is an exciting development for the Bitcoin ecosystem, offering new opportunities for decentralized finance (DeFi), non-fungible tokens (NFTs), and more. As the Stacks ecosystem continues to develop, we can expect to see even more innovative use cases emerge.
What you Need to Buy a Stacks NFT
Accessing the Stacks ecosystem is quite simple. You will need a handful of tools that are required to navigate the Bitcoin affiliated blockchain. Once your assets are vaulted you will be able to buy and sell Stacks NFTs on OpenSea or other EVM NFT Marketplace.
To navigate Stacks NFTs you will need these resources:
Hiro Wallet (Desktop or Browser Extension)
Gamma (NFT Marketplace)
Stacks Explorer (Block Explorer)
$STX and/ $BTC (Cryptocurrency)
Note: You may interact with a different provider for any of these services. Multiple options exist for all of these options.
How to Create and Mint an Emblem Vault
1) First, you’ll need ETH to pay for gas fees.
2) Second, Emblem requires 250 $COVAL to mint a vault.
3) If you don’t own any $COVAL tokens are available for purchase on Uniswap or Coinbase.
4) Now you’re ready! Click “Create” and let’s get started!
1) Once the create tab is open click on “Public” and then “Next” to begin labeling your vault.
1) Emblem Vault recommends the “Vault Name” to be established as so:
NAME OF ASSET | BLOCKCHAIN
EXAMPLE: Punk Donut #220 | Stacks
2) Emblem Vault recommends the “Vault Description” to be established as so:
“In this description it’s important to note any specific details about the asset(s). This can include the team who created the collection, rarity metrics, value, and/or links”
EXAMPLE: Punk Donuts are a notorious donut gang from Donutropolis. Some of them now call the small town of Donutville their home and have since caused nothing but trouble for the local residents! Their loud music, fierce dogs and dangerous shenanigans are keeping Donutville’s law enforcement very busy!
3) Click “Next” to move to additional vaulting steps.
1) Click on “Choose File”.
2) Choose an jpeg, jpg, gif, or MP4 file from your computer.
3) Click “Create Vault”
1) This is where your vaulted tokens will be displayed. Since the vault hasn’t been minted and tokens haven’t been sent to the vault yet, the vault will remain empty displaying “refreshing” until done so.
2) This is reminder that you will be required to spend 250 COVAL in order to mint the vault. COVAL can be purchased on Uniswap or Coinbase.
3) Click “Mint Vault”.
1) Click “Sign Message”.
2) Check Gas Fees and estimate the appropriate amount of gwei required measured against the amount of traffic on the Ethereum Network (this example is 13 gwei) You can EthGasStation.info for help!
3) Click “Confirm” to complete the transaction and mint your Emblem Vault.
How to Send a Stacks NFT to your Vault
Now that you have created a vault, you need to send your Stacks NFT to your Emblem Vault. Failure to do so in a timely fashion may get your vault flagged for removal.
1) Click “STX” under “Deposit Addresses” to view your Stacks wallet address.
2) Click on your address under “STX Address” to copy your wallet address.
1) Open up Gamma.io and click “Send ”.
2) Paste in the copied STX Address from Emblem Vault into the “Stacks Address” tab.
3) Click “Send to” to finalize the transaction.
Now head back to your vault and click “Refresh Balance”. After a few minutes your NFT should display inside of the vault. Congrats, you have successfully vaulted your very own Stacks NFT!
Bonus Tip: If you have any plans to crack open the vault in the future to bring your asset back on-chain then we recommend also vaulting some $STX inside. This will save you an additional step if you plan to move your asset from it’s imported wallet to a different location.
If you’d like to learn more about Emblem Vault checkout the links below:
Twitter: https://twitter.com/EmblemVault
Youtube: https://www.youtube.com/@emblemvault
Website: https://emblem.pro/
Discord: https://discord.gg/JYxH82xSy5
