SNARKSTRThe whole machine,
explained slowly.
Fees fund a treasury. The treasury buys the cheapest valid zkSNARKs listing it can afford. Participants can vote to sell, within bounds. Everything else is detail — and the detail is below.
1 / Where the money comes from
Trading $SNARK is intended to carry an additional creator tax — requested at 5%, unverified until launch, and never the total trading cost (base, pool and opening-period fees apply separately). Those creator receipts are the strategy's only revenue.
Only money that has actually reached the acquisition accounting boundary counts as “collected fees.” Pending amounts inside the launch platform's curve, hook or escrow are shown separately. A random donation is not trading revenue; returned principal is not new revenue; a sale distribution returning to the treasury is not creator revenue.
There is no developer percentage, no buyback budget and no dividends from trading taxes. Development costs are funded independently.
2 / Conversion, and who you're trusting
zkSNARKs live on the Zcash side; fees arrive on an EVM chain. In between sits a conversion route — and a trust boundary.
- The EVM vault can enforce rules on-chain: capped export sizes, daily limits, a single active purchase.
- The conversion itself crosses systems the vault cannot see. It is executed by an off-chain worker against a verified route, with receipts, timeouts and an explicit refund path.
- Exported funds are tracked separately from settled ZEC: an amount is never counted once as EVM cash and again as spendable ZEC. Only reconciled, settled ZEC can be spent.
Until a real route is tested with exact source and destination identities, the conversion adapter stays production-disabled. That is why the buyer is accumulating, not buying.
3 / The cheapest-first rule, including the awkward cases
Valid listings are sorted by asking price, then all-in cost, then listing ID. The cheapest one is the candidate. Then two tests: affordability against settled funds, and the absolute price ceiling.
- Unaffordable floor: if the cheapest valid listing costs more than available settled funds, the buyer waits. It never skips it to buy a more expensive listing.
- Expensive rare at the floor: not excluded for its trait. If it is the lowest valid price, it is the candidate — but traits never justify paying a premium, because traits are simply not inputs.
- Equal prices: ties break by all-in cost, then listing ID — deterministic, no operator discretion.
- Vanishing listing: if the floor listing disappears during conversion, the purchase revalidates against the then-cheapest valid listing before submitting.
- Rejected listings are logged: every lower-priced listing that was skipped carries an exact recorded reason (wrong collection, invalid, stale, expired, related party, not executable).
Coverage honesty: a “global floor” claim requires complete enumeration from the source. With partial coverage the correct claim is “lowest verified listing from connected source” — and purchase selection refuses to run at all.
You can watch the real selection function run on fixture data in the simulated demo — including rejection reasons and the unaffordable-floor case.
4 / Paid is not owned: custody and its limits
A confirmed payment moves a purchase to custody checking — not to the archive. The holding is recorded only after collectible identity, destination and ownership evidence check out.
- Attestation: the operator states custody and publishes evidence references. Honest, but weaker — and labeled as such on every holding.
- Independent verification: a mechanism outside the operator confirms ownership. Where the native side offers none, the archive says “attested,” not “proven.”
- Mismatch: a custody mismatch pauses new outflows until reconciliation completes.
5 / Maturity and eligibility
Influence is opt-in and slow on purpose. Stake, wait seven days, activate — only then do votes and distributions see you.
- New deposits join a pending bucket; adding to a pending bucket resets that bucket's seven-day clock.
- Activation is explicit and not retroactive: snapshots taken before you activate never include you.
- Votes and claims read historical snapshots. Delegation moves votes; distribution rights always stay with your own eligible balance.
- Withdrawal never depends on the marketplace or on governance — the exit works even when everything else is broken.
Details and the exact flow: /participate.
6 / Sale accounting, with the worked example
When a participant-approved sale settles, the split is deterministic and integer-exact — computed by the same code the demo runs.
- 6 ZEC capital returns to acquisitions.
- Gain splits 50/50: 3 ZEC retained for acquisitions, 3 ZEC allocated to eligible participants.
- Payout conversion costs come out of the participant allocation before the epoch is funded — the final claimable amount is what actually lands.
Loss carryforward
A sale below cost produces a realized loss that carries forward: future gains must recover it before any split. This is realized accounting, not a mark-to-market high-water mark; it does not claw back past claims and it does not promise drawdown protection. Cost basis is all-in and recorded at acquisition time — never backfilled with a more convenient rate after a profitable sale.
7 / What can go wrong
- The token can lose all value; the strategy then has nothing to collect.
- The marketplace may never expose a usable API — the buyer then never activates.
- The conversion route can fail mid-flight; refunds are designed for, not guaranteed instant.
- Floors can fall; realized losses carry forward and postpone distributions indefinitely.
- Custody is operator-held until independent verification exists — a real trust exposure.
- Upstream platform owners retain powers over fee routing that must be monitored.
- Bugs — contracts, workers, or this very site — are always possible.
The full risk list and every dependency's verification status: /transparency and /status.
FAQ
Why buy the floor instead of hunting rares?
Because it is objective, auditable and hard to game. Any rarity strategy imports subjective valuation and discretion; strict cheapest-first is a rule a machine can follow and a reader can verify from receipts.
Is 5% the total cost of trading?
No. 5% is the requested additional creator tax, unverified until launch. The venue's base/curve fee, pool fee and any opening-period charges apply separately and will be disclosed exactly once verified.
When will buying start?
When the named gates pass: verified chain, verified launch deployment, documented marketplace read and purchase, tested conversion and refund routes, configured safety caps, and a reconciled canary acquisition. No countdown exists — a date never activates spending. Watch /status.
Does holding $SNARK entitle me to the NFTs?
No. Voting and distribution eligibility are technical participation mechanisms, not legal fractional ownership of the collection. Legal rights would need separate establishment and disclosure.
Can the team quietly take a cut?
The design has no developer percentage, no buyback budget and no dividends from trading taxes; documented execution costs inside capped orders are the only deductions. The allocation policy and authority map are public on /transparency, and receipts account for every movement.
Is the pixel art the actual collection?
No. Every scene and portrait on this site is original illustrative art made for SNARKSTR. Authentic collection artwork appears only in the treasury after verified acquisition, with provenance recorded.
Is SNARKSTR the largest zkSNARKs treasury?
No such claim is made. “Built to become the largest verified zkSNARKs treasury” is a goal. A credible ranking would require complete, verified ownership data that does not currently exist.