Docs

Rips is inspired by FWA mechanics on Ethereum — original Solana product, distinct brand.

Positions & weight

Each deposit is NFT + exclusive SOL backing. Weight = 10^24 / backing. Lightly backed positions are selected more often; heavily backed ones stay longer and earn more lifetime fees.

Pricing

Acquisition price ≈ expected backing under inverse weights (n × 10^24 / total_weight) plus a 10% surcharge. Purchaser also pays VRF fee.

Settlement

After a rip: Keep NFT (backing goes to depositor) or Accept bid (you get 85% of backing; NFT returns to depositor). Never both.

Fees

Surcharge is split equally across active positions (not pro-rata backing). Protocol takes 20% of surcharge by default. Crown pot off in MVP.

Safety

Per-position escrow. FIFO request queue. Admin cannot seize NFT or backing. Refunds on empty/timeout. SMB Gen2 whitelist only.

Full protocol SPEC lives in the monorepo at docs/SPEC.md. Back home