1. Summary

WENFLOOR is the NFT. WENMOON is the token. The protocol has two public thresholds and three phases. The first threshold, 50 ETH, opens NFT-to-token claims, changes new mints into automatic WENMOON settlements, and opens reserve sells. The second threshold is the 100 ETH full mint phase: once all 10,000 WENFLOOR NFTs are minted, reserve buys open while sells remain open. WENMOON has a fixed maximum supply of 6,669,990,000; reserve buys can only remint WENMOON that was previously burned through reserve sells.

The core idea is that early participation is not a direct token purchase. Early participants buy a position on the NFT curve. That position can later be burned for a fixed WENMOON amount once the reserve reaches 50 ETH. The NFT layer creates the first-stage game; the token layer begins after the claim gate opens.

• WENFLOOR NFT supply: 10,000
• Wallet mint limit: 10 WENFLOOR NFTs
• Full NFT mint target: 100 ETH
• Claim and auto-settlement gate: 50 ETH
• Reserve sell phase: once the Curve Reserve reaches 50 ETH
• Reserve buy phase: all 10,000 WENFLOOR NFTs minted
• Reserve buy limit: 1 ETH per transaction
• Claim per NFT: 666,999 WENMOON
• Fixed WENMOON maximum supply: 6,669,990,000 WENMOON

2. Issuance Curve

Each WENFLOOR NFT has a deterministic mint price based on its token ID. Earlier IDs are lower priced, later IDs are higher priced, and the 10,000 NFT sequence maps to the 99% point of the curve at exactly 100 ETH. Each wallet can mint at most 10 WENFLOOR NFTs from the contract.

The price list is visible before minting. A player can see the exact NFT IDs and exact ETH required for the selected quantity. This makes the first stage a transparent queue-position game rather than an opaque mint.

The curve is expressed as a cumulative ETH function. The on-chain mint quote is the difference between two cumulative positions, so a batch mint pays for the exact movement from the current minted count to the new minted count.

NFT_CURVE_K = 10,000 / 0.99
S = 100 ETH / ln(100)

ethAt(n) = S * ln(NFT_CURVE_K / (NFT_CURVE_K - n))
price(tokenId) = ethAt(tokenId) - ethAt(tokenId - 1)

3. Phase One: 0-50 ETH

Before 50 ETH, WENFLOOR is the game. Players are not receiving liquid WENMOON yet. They are buying NFT positions that may become token claims if the public reserve reaches the claim gate.

The strategic question in this phase is whether an early NFT position is worth the uncertainty of reaching 50 ETH. Earlier NFTs are cheaper, but they carry threshold risk. Later entrants pay more, but they receive more information about the probability that the gate will open.

This creates a simple coordination market. If players believe the 50 ETH gate will be reached, earlier NFTs may be attractive because the claim amount is fixed at 666,999 WENMOON per NFT. If players do not believe the gate will be reached, the NFT remains a pre-claim position with no token redemption available yet.

4. Phase Two: 50-100 ETH

Once the Curve Reserve reaches 50 ETH, every WENFLOOR NFT held by a wallet can be burned to claim 666,999 WENMOON, including NFTs minted before the threshold. Claiming is user-initiated. NFTs are not burned automatically.

exchangeOpen = exchangeUnlocked || curveReserveEth >= 50 ETH
sellOpen = exchangeOpen
postGateMint = mint WENFLOOR -> burn WENFLOOR -> receive 666,999 WENMOON

The game changes after 50 ETH. Existing NFT holders can choose between keeping the NFT position, burning it into WENMOON through the claim console, or claiming and selling WENMOON back into the reserve curve. New participants still enter through the WENFLOOR mint curve, but the contract immediately settles each newly minted NFT into 666,999 WENMOON in the same transaction.

The threshold is checked at the transaction batch level. If a mint starts below 50 ETH and the full batch payment pushes the Curve Reserve to or above 50 ETH, the entire batch settles as WENMOON. The contract does not split one mint transaction into pre-threshold and post-threshold NFTs.

There is no separate direct WENMOON buy path. The mint curve remains the entry path until all 10,000 WENFLOOR positions have been sold.

5. Phase Three: 100 ETH+

When all 10,000 WENFLOOR NFTs are minted, the reserve buy path opens. In the normal mint path this corresponds to the 100 ETH full mint target. Reserve sells remain open from the 50 ETH gate. The reserve remains inside the contract and is not assigned to a team wallet, treasury wallet, or fee receiver.

The reserve phase uses an exponential curve. WENMOON may come from pre-gate NFT claims, post-gate mint settlements, or post-100 ETH reserve buys. Buying remints WENMOON inventory previously burned through sells. Selling burns WENMOON and pays ETH according to the on-chain curve quote, with friction retained by the curve.

buyOpen = totalMinted == 10,000
sellOpen = exchangeOpen
buyInventory = totalWenmoonRedeemed - totalWenmoonBought

K = 6,669,990,000 WENMOON
S = 100 ETH / ln(100)
fairSupply(E) = K * (1 - e^(-E / S))

buyQuoteEth = ethIn * 0.997
buyFairAmount = fairSupply(E + buyQuoteEth) - fairSupply(E)
buyerReceives = buyFairAmount * totalMintAllocation / fairSupply(E)
buyerReceives must be <= buyInventory
singleBuyLimit = 1 ETH

sellFairAmount = sellAmount * fairSupply(E) / effectiveSupply
ethRaw = S * ln((K - fairSupply(E) + sellFairAmount) / (K - fairSupply(E)))
sellerReceives = ethRaw * 0.997

fee recipient:
  none

There is no fee recipient. The 0.3% friction remains in the reserve, so the reserve thickens instead of leaking value to an operator.

Unclaimed NFT allocations remain part of the sell-side effective supply. For the buy side, the contract keeps a separate fixed-supply inventory: WENMOON sold into the reserve is burned, and later reserve buys can only remint that burned amount.

6. Player Paths

The protocol creates different paths for different risk preferences.

• Early NFT buyer: enters before 50 ETH, pays lower curve prices, accepts threshold risk, and gains a fixed WENMOON claim if the gate opens.
• Threshold watcher: waits until the reserve approaches 50 ETH, pays a higher NFT price, but has more information that claims may open.
• Post-gate minter: enters after 50 ETH through the same WENFLOOR mint curve; the contract immediately burns the new NFT and sends 666,999 WENMOON.
• Token holder: holds WENMOON after claiming or post-gate mint settlement, sells to the reserve after 50 ETH, or waits for the 100 ETH buy phase.
• Reserve buyer: after all 10,000 NFTs are minted, buys WENMOON from the reserve curve with each transaction capped at 1 ETH and limited to previously burned WENMOON inventory.
• Reserve seller: after the 50 ETH gate, burns WENMOON into the exponential reserve curve and receives ETH according to the contract quote, with 0.3% retained by the curve.

7. Lifecycle

1. Users mint WENFLOOR NFTs on the curve.
2. ETH enters the Curve Reserve.
3. Before 50 ETH, the game is WENFLOOR positioning.
4. At 50 ETH, all held WENFLOOR NFTs become claimable, new WENFLOOR mints auto-settle into WENMOON, and WENMOON reserve selling opens.
5. Each claimed NFT is burned for 666,999 WENMOON.
6. When all 10,000 WENFLOOR NFTs are minted, WENMOON reserve buying opens.
7. WENMOON can be bought from or burned against the public reserve according to the active phase; fees remain in the curve.

8. Risk Notes

WENFLOOR does not promise a fixed market price for WENMOON. The curve defines NFT issuance, the 50 ETH claim, auto-settlement, and sell gate, and the 100 ETH reserve buy phase. WENMOON supply is capped at 6,669,990,000, and reserve buys are constrained by burned inventory. External market price is determined by live trading conditions.

The key risks are threshold risk before 50 ETH, liquidity and timing risk between 50 ETH and the 100 ETH full mint phase, and market-price risk after WENMOON becomes transferable and reserve-active. Players should treat the NFT as an on-chain position in a public game, not as a guaranteed claim on profit.