How it works

An onchain protocol where deposited NFTs, each backed by depositor ETH, become positions others acquire at random.

FND is an onchain, randomized NFT acquisition protocol for a single collection: pieces on the Foundation shared minting contract — early crypto-art 1/1s minted in 2021. Depositors list Foundation NFTs together with committed ETH backing, similar to a Uniswap V2 pair. That backing sets each position's selection weight and funds an irrevocable standing bid from the depositor to reacquire the NFT. Anyone can pay the pool-derived acquisition price to receive one randomly selected NFT position. The pool portion of that price is derived from the backing in the pool, and Chainlink VRF supplies the randomness. Deposits made while a draw is pending are staged and cannot enter that draw, and callbacks that arrive late are refunded, so callback timing cannot reshape a pending draw's selection pool.

• Acquire one randomly selected NFT position from the pool. You're far more likely to receive a lightly-backed one.
• After allocation, choose: keep the NFT, or accept the depositor's standing bid and sell the NFT back for most of its ETH backing (in ETH, or as the FND token). You can never keep both.
• Deposit a Foundation NFT plus ETH backing to provide liquidity and earn a share of every acquisition fee, plus FND rewards.
• FND is the reward token that pays both sides for showing up early and ties the protocol's revenue to buy pressure.

The protocol has three roles: depositors provide liquidity by pairing NFTs with ETH backing, purchasers pay the acquisition price to receive a randomly selected position that may be higher-backed than the price they paid, and the protocol earns bounded fees from the spread between NFT value, ETH backing, and participant choices.

Use the menu to dig into any part.