How an OTC desk works

Minting burns 1,000,000 OTC and issues a Metaplex Core NFT with a vault address derived from it. The burn happens inside the mint instruction, before the NFT exists — Solana transactions are all-or-nothing, so there is no version of this where somebody gets a desk without the supply going down.

The vault is what makes it a desk rather than a picture. It holds real tokenised stock, it is owned by the NFT rather than by you, and it travels with the NFT when you sell.

A freshly minted desk earns nothing until you activate it. Press Activate on the mint page or your profile, approve the transactions, and it is done once — permanently.

Solana will not let one account hold a balance of more than one token. Each stock needs its own account on your desk, created and rent-funded ahead of time, and ten of those do not fit in the same transaction as the mint. That is the only reason this is a second step.

Nothing is lost by waiting. What a desk is owed is recorded from the moment it is minted and keeps accruing whether its accounts exist or not. Rounds skip it until they do, then pay it in full.

The moment the pot clears 0.1 SOL it is spent — all of it — on whichever stock is next in the rotation. What it bought is split equally across every live desk. Not proportionally, not weighted by how long you have held: one desk, one share.

A round is one transaction however many desks exist, because it writes a single number rather than paying five thousand accounts. Your share is the difference between that number and where your desk last stood — counter minus stamp. Delivering it into the vaults happens afterwards, one transaction per desk, and anybody can trigger it.

Selling a desk is selling the NFT. The vault is derived from the NFT and every instruction checks ownership against it, so transferring the token transfers everything the desk owns — its accounts, its stock, and anything a round has credited but not yet delivered. There is nothing to withdraw first and nothing that gets left behind.

Which also means it never stops working. A listed desk is still live, still counted, and still paid by every round while it sits on the market; whoever buys it picks it up mid-flight with everything on it, rather than starting from zero.

In practice that means listing it on Magic Eden, the same as any other Solana NFT. The protocol takes nothing from the sale. The collection does carry a 5% royalty, and it goes to the pot rather than to us — but it is declared on the collection rather than enforced by the program, so a marketplace pays it and a hand-typed wallet-to-wallet transfer does not.