How work?
Contributors crowdfund an NFT 👬
Contribute ETH to a crowdfunding contract to buy NFT.
When we win, contributors get tokens representing fractions of the NFT depending on how much of their ETH was used in the purchase. You can reclaim whatever ETH was not spent.
Yield is farmed by depositing the NFT into JPEG'd 🌾
A safe loan (15% LTV) of pETH is taken out against the NFT and used to farm in the citadel.
You are able to claim your share of accumulated yield whenever you want, but you must pay gas. Also, only 98% of your share of earned yield will be paid out, with 2% left in the strategy. This is to disincentivize early or frequent claims, allowing the magic of compounding to do its thing.
Receive proceeds when the NFT is sold in the future 💰
After the sale, all remaining yield can be claimed - just pay gas.
If the NFT was sold for a profit (denominated in ETH), the initial contributors can claim 80% of the profits, with the remaining 20% of going to the JPOOL'd DAO. If no ETH profit, no fee. Buy together, baghold together.
In the future, the yield-bearing NFT fractions could be used to create a REIT-like instrument, used in Option vaults like Dopex SSOVs, used to unlock access to 3D avatars via Hologram, and many more cases
