WTOAD

> Lock tokens. Mint a toad. Burn it to get them back.

Wrapped Toads are token-backed NFTs. Every toad locks a fixed amount of $WTOAD in its own fully collateralized isolated vault; burning the toad unwraps that vault and returns the tokens. One toad, one vault, redeemable at any time.

[ WRAP TOAD → ][ VIEW TOADS ]

THE MECHANIC

# wrap()

  1. caller holds 1,000,000 wTOAD
  2. tokens lock in an isolated vault PDA
  3. fresh Metaplex Core asset is created
  4. current NFT owner controls redemption

# unwrap()

  1. caller holds the toad NFT
  2. NFT is burned
  3. 1,000,000 wTOAD is released
  4. tier returns to the reusable pool

vault.authority = PDA(["vault", core_asset]) → the collateral follows the NFT through every transfer.

PROJECT WIRING

  token          Wrapped Toads (wTOAD)
  mint           wToADZqKALX4JJSycHgSBXgNUx3aDuVxCn7p6ARzoeK
  program        A2i129Ct2BkS3UiJpsT5MgoxkNt2csPqaDkdGrqEuifZ
  max supply     1,000 toads
  tokens per nft 1,000,000 wTOAD
  royalty        2.5%
  cluster        solana / mainnet-beta