jpeg marketsDOCUMENTATIONOpen JPEG Markets ↗
TECHNICAL REFERENCE

One collection.
Clear boundaries.

How issuance, backing, market trading, and artwork fit together.

Follow a collection through the system

Two ledgers, one collection

Example with 10 NFTs: 7 unminted, 2 outside the vault, 1 in the vault; 2 FLOOR in reserve and 9 outside it.
Inventory counts deposited NFTs. Reserve counts accounted FLOOR. They are not interchangeable. Swipe to explore →

For N NFTs and T reserved team allocations, initial supply is (N + 1) FLOOR. T FLOOR funds team backing; N − T + 1 is allocated to pool initialization. The buffer creates no additional NFT.

S0 − R = (U + C + 1) × UNIT
R = (O + A) × UNIT
N = U + C + O + A
B ≥ R

U is unminted public supply, C accounted NFT inventory, O minted NFTs outside accounted inventory, and A unclaimed team rights. R is accounted FLOOR reserve, B actual FLOOR balance, and S0 initial token issuance. UNIT = 10^18. Actual outside balances also need external-burn and donation reconciliation; a market-data “circulating supply” is not this ledger.

Issuance and conversion

Public minting pays the immutable mint fee and funds the FLOOR reserve as the NFT is issued. Fee revenue remains separate from reserve backing.

The configured delay gates public minting and NFT deposits from activation. Vault redemption requires available accounted inventory and has no independent timer. The shared router combines the token and NFT movements required for each action in one transaction. Each action identifies its collection through the minter; reserves remain separate.

Commit first, reveal later

Folder preparation sorts artwork for inspection. Protocol preparation randomizes public assignments, commits them to a chain/collection-bound root, and retains private salts and records. Reveal proves an existing assignment; it does not perform a new shuffle. Public artifacts and private encrypted recovery material must remain separate.

Data and network boundaries

Base, Robinhood Chain, and Arc use separate deployments and chain-bound metadata commitments. The public app reads one configured collection at a time. Keep each collection’s index database, snapshot, reveal checkpoint, and encrypted recovery bundle separate.

The focused indexer tracks launch and NFT state; market adapters supply indicative pool observations. A missing or stale market response does not remove NFT inventory. Transaction clients verify current onchain state and simulate the complete action before signing.

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Mechanics worth understanding.

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