FWApool meter
FWA—
deposit ↗
loading
Back an NFT with
0.060 ETH
and it pays you
—APR
ETH fees—
FWA rewards—

Every position earns an equal share of the ETH fees no matter how much is behind it, so backing less is what lifts the rate. Back less than the NFT is worth, though, and someone will take it at your price.

APR against backing, for every position in the pool —
0.01 Ξ0.1 Ξ1 Ξ10 Ξ
Your NFT is handed back — —
In the pool — ETH —
Pulls per day — what generates every fee
$FWA supply, funding the FWA leg
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How this is measured

What the pool pays

A depositor pairs an NFT with ETH backing and earns from two legs. This page annualises both against the total backing sitting in the pool right now, which is the denominator that matters: it is what your ETH is competing with.

The FWA leg is exact. routeDepositorBps of every buyback goes to depositors through the square root accumulator. Buyback size is implied by the burn, so this leg needs no assumptions beyond the FWA price.

The ETH leg is an upper bound, not a measurement. It is the full 2.5% acquisition surcharge charged on every pull. In a cold pool part of that surcharge slides to the next purchaser as an FWA buy allowance instead of reaching depositors, so the real figure sits at or below the number shown. It is stated as the ceiling rather than quietly rounded up.

Both legs move with volume. Fee volume has been falling: the burn, which is the same revenue seen from the other end, averaged 143K FWA per day over the last seven days against 351K over thirty. The caption under the curve says so.

Assignment risk

When your position is drawn, the buyer either keeps the NFT or hands it back for your pre-funded standing bid. The keep rate counts NFTKept against DepositorBidAccepted over seven days. Backing above what the NFT is worth is what keeps that number low, and it is your own capital either way.

Total backing

No view sums it, and it cannot be derived from totalWeight, which is the sum of the reciprocals. So every active slot is walked through Multicall3 each refresh. The slot space is a sparse tree, not a packed array, so the scan runs until it has accounted for every listing rather than stopping at activeListingCount.

Supply and buybacks

Supply is totalSupply() at the current block and at the same block each of the last 30 days, so the burn rate is a difference rather than an estimate. Buyback spend is implied from the burn, since the burn is exactly the routeBurnBps share of every buyback. Checked against a full ProtocolFeesToToken log scan on 7 September 2026: 3.19 ETH per day implied against 3.14 measured, 1.6% apart. The 30 day window still contains the sweep from when buybacks first went live, so every rate here uses 24 hours.

Free to play

A purchaser pays 1.025x the pool's average backing and, on pulls settled by taking the standing bid, receives 0.9x of the backing they drew. Both are protocol constants, so the gap needs no floor prices. Purchaser FWA rewards close it from below, and the percentage is how much of it the last closed epoch covered.

Contracts

FWAToken0xa0Df17B5aC76ABaBA36E1450E2cbCd18A620C845 FWA pool0xB276F62DB0ce8CA2Ca5bc522695bE604521eAc1c FWARewards0x6a1a1C0CfB3D3C538e13D36d608a5bcaa992fc78

Risk

Not financial advice. Depositing and pulling both carry risk of loss, including the risk that FWA rewards are worth less than they cost to earn. Read the protocol docs before using it.

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