1. Put the complete eligible inventory in custody
In the revised mock-only pilot, all twenty eligible NFTs enter the vault before activation. None starts with a tester. The eligible universe is frozen: later minting, a replacement root or an extra eligible token cannot create an unfunded bid.
A larger existing collection can use a deliberately selected fixed pool universe. This profile does not promise returns for every other NFT in that collection. A pool admitting initially outside NFTs needs a different reserve or capacity-only policy.
2. The first buyer creates the first return capacity
At the proposed 100 TEST_LEGEND base amount, a next/FIFO purchase costs 101.5. The vault credits 101 to reserve, the protocol receives 0.5, and the buyer receives one NFT. A selected purchase costs 102.5 and credits 102 to reserve.
Only credited tokens can pay sellers. An eligible owner's ordinary return receives 98.5 and costs the reserve 99, including the 0.5 protocol component. A next purchase followed by a return leaves 2 in reserve and restores the NFT to inventory.
3. Capacity can change
BuyOnly means there are NFTs available but less than 99 tokens of modeled return capacity. TwoWay means both inventory and at least one return's token capacity exist. SellOnly means the inventory is empty but return capacity remains. The mode does not override ownership, quote limits, pauses or quotas.
This is automated fixed-price trading, not a constant-product exchange or automatic price discovery. There is no promise of a dollar value, unlimited liquidity, demand or a perpetual floor.
4. Keep custody and claims separate
The router is the entry point. The individual vault is the approved spender. No factory allowance is required. A return must be initiated by the current NFT owner; standing approval alone cannot authorize another person to force it.
Each pool has its own inventory, token balance and claim ledger. One pool cannot borrow another's reserve. Direct transfers do not create credited deposits or LP shares. A trade must either complete its custody and payment checks or revert together.
5. Closing must have an executable exit
The proposed restricted pilot has a 72-hour trading cutoff and a seven-day voluntary Closing offer. Anyone can initiate Closing after the cutoff or global trade cap; the creator may also start it early. Bounded pauses cannot extend those deadlines or block valid claims.
A Closing return moves 99 from free reserve into cash debt, with 98.5 owed to the owner and 0.5 owed to treasury. The NFT changes custody, then the fixed beneficiary can pull the earned cash. Already earned claims never expire.
After the offer ends, an owner who did not redeem keeps the NFT but no longer has that pool bid. Remaining tokens and tracked pool inventory can be released only after preserving every cash debt. An indefinite bid would require retaining backing capital indefinitely; that is not this finite profile.
6. Tokens are not cash liquidity
Buyers need actual access to the canonical token before the first purchase. Token distribution or issuance does not itself create ETH liquidity or a market price. A separate token/ETH or stablecoin market is optional and needs its own paired assets.
Gas and any third-party application charge are separate. External Anvil V3 creates a new collection token, not a pool automatically attached to existing shared $LEGEND. Its own fees and modules are not fees of this custom design.