Contract settlement

  • There are 2 possibilities for the contract to settle :

    • The Seller sells a NFT from the collection to the contract, in exchange for the Settlement Price in ETH, as well as his Security Deposit, before the Settlement Deadline. The NFT is reclaimed by the Buyer.

    • After the Settlement Deadline passed and no NFT was sold to the contract, the Buyer claims his Settlement Price back, as well as the Security Deposit from the Seller, in ETH. No NFT is exchanged.

  • A few examples of the dynamics that could happen with concrete examples in the next pages. We are still with our Grumpy Grandpas collection, with the following contract :

    • Initial floor price : 1 ETH

    • Security Deposit = 0.6 ETH

    • Settlement price = 0.8 ETH

    • Settlement Deadline : September 4th, 10 am

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