Oracle

How the Oracle works

The Oracle establishes collection prices that FWA uses to set maximum backing. Whitelisted NFTs need a valid, unexpired quote before they can be deposited, unless the collection has an oracle exemption.

When you propose a price, you list your NFT for sale at that price and fund a bid of 90% of it. Anyone can buy your listed NFT or sell you any NFT from the same collection at your bid, regardless of its traits or rarity. Your NFT may be sold, or your ETH spent on a different NFT. You cannot cancel a proposal.

If neither side trades for the proposal's challenge period, finalize the proposal to record the price and recover your NFT and ETH. Any assets that cannot be returned automatically remain available to claim here. You can then deposit into FWA while the quote is valid. If either side trades, the proposal ends without recording a new oracle price.