How a desk works

What you get

Minting burns and issues an ERC-721 with a vault address derived from it. The burn happens inside the mint call, before the NFT exists — the transaction either does both or neither, so there is no version of this where somebody gets a desk without the supply going down.

The vault is what makes it a desk rather than a picture. It holds real tokenised stock, it is owned by the NFT rather than by you, and it travels with the NFT when you sell.

Activating a desk

A freshly minted desk earns nothing until you activate it. Press Activate on the mint page or your profile, approve the transaction, and it is done once — permanently.

A desk's vault is a contract of its own, deployed at the address the NFT derives. Deploying it does not fit in the same transaction as the mint, and it has to exist before anything can be delivered into it. That is the only reason this is a second step.

Nothing is lost by waiting. What a desk is owed is recorded from the moment it is minted and keeps accruing whether its vault exists or not. Rounds skip it until it does, then pay it in full.

What a round does

The moment the pot clears it is spent — all of it — on whichever asset is next in the rotation. What it bought is split equally across every live desk. Not proportionally, not weighted by how long you have held: one desk, one share.

A round is one transaction however many desks exist, because it writes a single number rather than paying five thousand vaults. Your share is the difference between that number and where your desk last stood — counter minus stamp. Delivering it into the vaults happens afterwards, one transaction per desk, and anybody can trigger it.

Where the money comes from

Everything the protocol spends passes through one account — the pot. Three things fill it.

Creator fees on accumulate against the fee recipient rather than being pushed to it, so they do not arrive on their own: a keeper claims them into the pot on a fixed cadence. The recipient is set at launch and can be repointed later, which is what lets the pot — a contract — be the one collecting.

The deposit funds none of this. It is destroyed, it goes nowhere, and nobody receives it. Total supply is permanently smaller every time a desk is issued, and you can watch the number fall on the front page.

Two of the three keep working after the last serial is minted, which is what stops a sold-out supply ending the rounds.

What we take

per mint — a tenth of the surcharge, taken by the mint call. That is the only function in the contract that pays the protocol wallet, and there is no second source of revenue.

None of what the pot receives is a promise. If nobody mints and the token stops trading, the pot stops filling and rounds stop firing. Nothing you already hold is affected — the stock is in your desk and you can pull it out yourself — it simply stops growing.

Selling a desk

Selling a desk is selling the NFT. The vault is derived from the NFT and every function checks ownership against it, so transferring the token transfers everything the desk owns — its vault, its stock, and anything a round has credited but not yet delivered. There is nothing to withdraw first and nothing that gets left behind.

Which also means it never stops working. A listed desk is still live, still counted, and still paid by every round while it sits on the market; whoever buys it picks it up mid-flight with everything on it, rather than starting from zero.

In practice that means listing it like any other NFT on the chain. The protocol takes nothing from the sale. The collection does carry a royalty and it goes to the pot rather than to us — but it is declared on the collection rather than enforced by the contract, so a marketplace that honours EIP-2981 pays it and a hand-typed wallet-to-wallet transfer does not.

The numbers

The accounts

The pot and the config are deterministic addresses, derived from a salt rather than owned by anyone. The rest is read off the config contract, so nothing here can drift from what is deployed.