Settlement
Being allocated a position does not move anything yet. Allocation marks the position as yours and opens a choice window. What happens to the NFT and to the SOL behind it depends on what you choose.
The four options
| You choose | You get | The depositor gets | The protocol gets |
|---|---|---|---|
| 1. Keep the NFT | the NFT | 99% of the backing | 1% of the backing |
| 2. Keep and relist | a fresh listing you fund with your own backing — the NFT never leaves custody | 99% of the backing | 1% of the backing |
| 3. Accept the standing bid | 85% of the backing, in SOL | the NFT back | the 15% discount |
| 4. Accept the bid as $RIP | the same 85%, spent buying $RIP that is sent to you | the NFT back | the 15% discount |
Option 2 is option 1 plus an immediate relist, done in a single transaction so the NFT never has to leave the protocol's custody and come back.
Options 3 and 4 pay the same amount; they differ only in what you are paid in. On these paths there is no additional 1% cut — the protocol's take is the 15% discount, and only when the pool is configured to retain it (the default). If retention is switched off, that 15% is distributed to depositors instead.
You can never keep both the NFT and the backing. Every option is one or the other.
The windows
| Window | Who may act | What happens |
|---|---|---|
| First 24 hours | the purchaser, exclusively | any of the four options above |
| After 24 hours | the depositor | reclaim the backing (keep-NFT economics) or reclaim the NFT (accept-bid economics) |
| After 7 days | anyone | finalize the default outcome: NFT to the purchaser, backing minus 1% to the depositor |
Nothing ever locks up. If both parties go silent, the 7-day finalize is permissionless and anyone can trigger it.
Delivery cannot be blocked
A broken, malicious, or simply weird NFT collection cannot be used to jam settlement.
Your own keep-the-NFT transfer is strict: if it cannot complete, the whole transaction fails, so you find out immediately and can fall back to accepting the bid instead. Every delivery to a third party is claim-based — the settlement records that a party is entitled to the NFT, and that party claims it in their own transaction, whenever they like. Nothing sits in a state where one side's inability to receive freezes the other side's outcome.
Settling as $RIP
Option 4 routes your 85% straight through the $RIP market in one step, sending you the $RIP rather than the SOL. It is a convenience path with its own toggle — the pool can disable it — and it is subject to the same market rules as any other buy. See $RIP.