Collections

The main pool (V2) pairs ERC-721 NFTs with ETH backing. Collection eligibility is checked when creating a listing or relist. A collection appearing in a frontend catalogue is not sufficient: the pool's onchain admission rules decide whether the deposit succeeds.

Collection admission

The main pool has a collection whitelist and authority. When enforcement is enabled, only approved collections may create new listings. Removing a collection does not disable its existing positions' allocation, settlement, or withdrawal.

Unless an oracle exemption applies, deposits also need an accepted quote, even when the collection is whitelisted. Their backing must fit within the oracle ask plus the configured premium. Turning off the whitelist does not turn off this oracle requirement. Existing ordinary positions may later become eligible for removal under the cold-window rules.

Approved collection oracle exemptions

The pool owner can enable oracleExemptCollections(collection) for a trusted ERC-721 receipt collection. Its existing and future listings can then list, relist, and change backing without an oracle quote, and cannot be removed by an oracle-drift kick. Admission, minimum backing, crown fees, and ordinary settlement fees still apply. This setting grants neither FWAIR status nor a FWAIR settlement receipt.

This policy is live, unlike the FWAIR exception saved on an individual listing. The owner can enable or revoke it only when no acquisition remains unresolved. Revocation restores oracle checks for later listings, relists, and backing changes, and makes existing positions eligible for drift removal under the usual valid-quote and cold-window rules. It does not remove positions automatically or block withdrawal or non-relisting settlement.

Every collection starts without this exemption, and the launch configuration leaves it disabled, including for the optional wrappers. It is a pricing permission for future adapters; it does not supply asset custody, valuation, or adapter functionality by itself.

FWAIR launch collections

Whitelist authorities separate ordinary curation from campaign admission. Owners and revocable operators curate ordinary collections. An authorized FWAIR manager can reserve and activate only the exact collection associated with one of its registered launches. Authority-level blocks constrain both delegated paths; the pool owner retains its native whitelist controls.

A canonical FWAIR launch receives its oracle exception on each recognized listing. Its collection must still pass main-pool admission, and other depositors listing NFTs from that same collection do not inherit that listing's exception. Any separate collection oracle exemption still applies. A purchaser's relist is a new listing and is checked again. See FWAIR Launches for the campaign lifecycle.

Wrappers and custom pools

ERC-20 packs and wrapped CryptoPunks enter the main pool through their ERC-721 wrapper collection. The wrapper must be admitted by the pool, and the initial configuration keeps its listings subject to ordinary oracle and backing rules. Any later collection exemption must be enabled explicitly. Use the wrapper configured for the main pool when preparing a deposit.

Custom Pools use their own admission and inventory settings. A main-pool whitelist entry grants no permission in a custom pool, and custom-pool admission grants none in the main pool.

For integrations, new main-pool listings use listNFT or relistNFT. The pool exposes canDeposit(collection) for its collection-whitelist decision; it does not replace the separate backing and oracle checks performed by a deposit.