Shells
Deposit 50,500 PAGU to mint a shell; 500 are burned. Hold it to share pool fees, or open it to get 50,000 back.
What it is for
A shell here is an NFT with PAGU inside it. You deposit a fixed amount to mint one, and whoever owns it can open it and take the backing back out.
While any exist, a share of every pool fee is divided between them.
How it works
Minting takes two steps. You deposit and ask; then a random number decides which identity you receive. There is one mint per wallet and a fixed number of identities. The deposit is the backing plus a smaller amount that is destroyed when the mint completes.
Rewards have no days and no waiting. Each time the collection collects its share of fees, that amount is divided between the shells that exist at that moment and credited to whoever holds them. What was credited stays owed to that holder, even after they sell. Every transfer, mint and opening collects first, so a fee goes to whoever held when it came in.
A holder can claim what they are owed at any time, to an address of their choice. A keeper also pays holders from time to time.
Opening a shell destroys the NFT and returns its backing to the owner. One can also be sold at a fixed price, until a date the seller sets, on the market built for them, which keeps a fee from each sale.
Where it stops
The backing is PAGU. You get back the same number of tokens, not the same value. The part of the deposit that is destroyed at the mint does not come back.
Rewards depend on trading. Without trades there is nothing to divide. Fees collected while no shell exists go to Ebb.
A request locks its deposit until the mint completes. If the random number never comes, the deposit is not lost: after a day anyone can expire the request and the deposit waits for you to collect, and with some randomness sources you can take it back yourself after an hour. Either way the wallet's one mint stays used and any fee paid for the random number is not returned.
The collection gets its share because it is on the switchboard's list of programs. That list can be changed after the public delay. Taken off it, the collection receives nothing new; what was credited before stays claimable, and the deposits are held by the NFT contract itself.