How iwa.fun works

Every prize shown on the pull page is real pool inventory. A depositor locks an NFT with SOL backing. The backing is both a standing cash-out value and part of the math that sets the NFT's chance of being drawn.

1. 1
   Deposit

   List an eligible NFT, choose its backing, and wait for it to become active.

2. 2
   Pull

   Pay the displayed price. The Solana program and its randomness service select one active listing.

3. 3
   Choose

   Keep the NFT, relist it, take the configured share of its backing in SOL, or convert that SOL value to $IWA when the token path is available.

1. 1
   You approve the pull

   Your wallet signs one transaction that pays the displayed price and requests fresh randomness. The fee is held by the program while the pull is unresolved.

2. 2
   The carousel hides every identity

   All cards turn into the same anonymous back before the hidden spin. This prevents the interface from suggesting it knows which NFT will win.

3. 3
   The result is fixed on-chain

   Switchboard supplies fresh randomness. The program applies it to the pool's weighted index in strict first-in, first-out order. A reveal naming the wrong listing is rejected.

4. 4
   Only the centre card reveals

   After the authoritative result reaches the app, that prize is bound to the centre slot. The ring stops, then only the centre card flips. Side cards stay hidden until the pull presentation ends.

You may move to another page while the pull resolves. If the oracle or reveal service cannot finish before the on-chain deadline, the pull expires and the full fee plus account rent returns to the buyer. An out-of-bounds pull is also cancelled for a full refund.

Lower backing means higher draw weight. A listing backed by 1 SOL has ten times the draw weight of a listing backed by 10 SOL. The higher-backed NFT is harder to draw, but it can offer a larger cash-out value.

listing weight = 1 ÷ backing
pull price = max(minimum price, 110% × expected backing)

The multiplier is 110%. The expected backing is a weighted pool average called a harmonic mean. In plain English, lower-backed listings influence the pull price more because they are also more likely to be drawn.

The $IWA choice uses a live curve quote and a minimum-output limit. If the token market is unavailable or the closed-market safety cap would be exceeded, the win is not trapped: the plain SOL cash-out remains available.

1. 1
   Pick an eligible asset

   The app supports uncompressed legacy NFTs, programmable NFTs, and Metaplex Core assets. Compressed NFTs and unknown asset types are hidden because the program cannot safely escrow them.

2. 2
   Choose backing

   Backing is SOL locked with the NFT. It sets the standing cash-out value and changes the listing's odds. The form shows the live minimum and an odds estimate before you sign.

3. 3
   Wait for activation

   A new listing starts in warm-up and is not drawable yet. After the program's safety delay, it can activate when no pool-changing operation would interfere with an unresolved pull.

4. 4
   Earn while active

   Active listings share the depositor portion of completed pull fees equally per listing, not per SOL of backing. Rewards can be claimed without closing the listing.

Collection rules are on-chain. If the collection allowlist is off, any supported asset standard may be submitted; other safety checks still apply. If governance turns the allowlist on, only approved collections can activate. The deposit screen and program provide the final answer for a specific asset.

An active listing cannot disappear or change its odds while pulls are unresolved. Exits and backing changes therefore use request → notice → execute. The default notice is about 10 minutes. On a busy pool, a short drain window pauses new pulls so pending work can execute safely.

A request can lapse if it is not executed during its window; the listing then continues unchanged and you can request again. This prevents an old request from becoming a permanent option to leave later on stale terms.

Depositors claim SOL listing fees from the Positions page. The token reward program also tracks a depositor share, which listings join automatically when they activate. Purchaser token rewards are grouped into daily records and become claimable after a challenge window, which defaults to 24 hours.

Token rewards are paid in $IWA, not SOL. Their eventual SOL value depends on market liquidity and price. A displayed token amount should not be read as a guaranteed rebate.

• Supply: 1 billion tokens created through Meteora's bonding-curve launch, with no ongoing emissions and no team allocation.
• Before public buying opens: selling and reward claims can work, while direct public buys and wallet-to-wallet transfers are restricted. Protocol conversions and buybacks may operate inside an on-chain cap.
• Opening the market: the operator multisig can make the market permissive once, permanently. There is no automatic day-seven switch or other timestamp.
• Graduation: when the curve reaches its configured quote threshold, trading migrates to DAMM v2 and the transfer restriction is removed. The migrated and leftover liquidity positions are intended to remain permanently locked.

1. 1
   Share or open a link

   A referral link stores the suggested referrer in the visitor's browser. It does not silently bind the wallet.

2. 2
   Review and confirm

   The buyer signs a message to confirm one permanent referrer. Self-referrals are rejected, and an existing binding cannot be replaced.

3. 3
   Accrue only when activated

   The live referral rate is currently 0%. At 0%, confirmed relationships remain recorded but pulls earn no referral reward. Governance must set a non-zero on-chain rate before new eligible pulls accrue.

When active, the referral share comes out of the protocol's fee cut, not the depositor share or winner payout. The pull records the rate and referrer at purchase, so a later rate change cannot rewrite that pull.

• A pull may disappoint. The NFT or cash-out value can be below the amount paid.
• Backing is user-chosen. It is not proof of an NFT's market value and may differ sharply from marketplace prices.
• Custody is program-controlled. Listed NFTs and backing stay in program accounts until a valid exit or settlement completes.
• Oracle or automation outages can delay service. An unresolved pull eventually refunds, but exits and activations may also wait for the queue to clear.
• Token rewards can lose value. $IWA price, liquidity, and claim availability can change independently of the NFT pull.
• Admin and operator powers still matter. Timelocked configuration, a guardian veto, pause controls, and the one-way market-opening decision reduce or bound powers; they do not make keys or operations risk-free.
• Mainnet readiness is separate from code completion. External review, production configuration, independent automation, monitoring, and legal analysis remain launch requirements.

The interface never holds assets: listed NFTs and SOL backing sit in program-derived accounts controlled by these programs, and every transaction you make is signed by your own wallet. If this site is unreachable, the same programs remain callable directly on-chain.

By connecting a wallet or using iwa.fun you agree to these terms; if you do not agree, do not use the interface. They govern this interface only — the program itself is autonomous and non-custodial, and anyone can interact with it directly, outside this site and outside these terms.

• The service. iwa.fun is simply a frontend — a window into a non-custodial program that lives on the Solana blockchain. The interface never takes possession of your NFTs, your SOL, or your keys: listed assets and backing are held by the program under its own rules, and every transaction is signed by your wallet and executed by the network. We never ask for your seed phrase or private keys.
• The program, not the interface, decides. Draws, odds, settlements, refunds, and fee accounting are all performed by the program and its randomness service. The interface only reads on-chain state, displays it, and forwards your signed instructions. It can change, lag behind the chain, or go offline entirely — the program keeps running regardless, and you can always interact with it directly or through another interface.
• Eligibility. You must be of legal age in your jurisdiction and not barred from using crypto-asset services where you live. Using the service where doing so is unlawful is prohibited.
• Your NFTs. You may only deposit NFTs you own and are entitled to transfer. Backing is chosen by you: it is a standing cash-out value, not an appraisal, and it may differ from any marketplace price.
• Pulls are random. Outcomes are produced by the program and its randomness service, and a prize or cash-out can be worth less than the pull price. Other than the automatic full refund of an expired or cancelled pull, all transactions are final.
• No promises. Nothing here is financial advice or an offer of profit, yield, or resale value. Depositor earnings, $IWA rewards, and NFT floor prices can change or disappear.
• Smart-contract and network risk. Code can fail, oracles and automation can stall, and keys can be compromised even with timelocks and pause controls. Reviews and audits reduce risk; they do not remove it. Because assets and outcomes live with the program rather than the interface, a fault expresses itself on-chain whether or not this site is involved. You use the program — through this interface, directly, or any other — entirely at your own risk.
• Provided as is. The interface is offered as is and as available, with no warranty of any kind, express or implied: no promise of accuracy, availability, uninterrupted access, fitness for a particular purpose, or that a displayed figure matches on-chain state at any given moment.
• Your responsibility. You alone are responsible for your wallet and keys, for reviewing every transaction before you sign it, and for the tax and legal obligations that apply to you. No use of the service creates an agency, partnership, or fiduciary relationship of any kind.
• Third parties. Wallets, RPC providers, the randomness oracle, and NFT marketplaces are independent services with their own terms and failure modes. Their outages, fees, or decisions are outside our control and not ours to answer for.
• Changes. These terms can be updated; the version on this page is the current one. Continuing to use the service after a change means you accept the update.