Part of “Welcome to Troop!”

At a high level, the key actions users take in our product:

• Start a hunt
• Join a hunt / Add funds
• Invite friends
• Complete Purchase
• Claim ownership token
• Price the acquired NFT
• Sell ownership token
• Sell the NFT
• Reclaim unused funds

Let's go through each step together. To use our product, visit troop.gg.

Start a hunt

Anyone can start a hunt. To start, click on the "Start a Hunt" CTA. Then, fill out the details of your hunt (i.e. OpenSea link of your target NFT, name of the hunt, symbol of your ownership token, etc).

You'll have the option to make the hunt "public" or "private". "Public" means that the hunt will be posted on Troop's homepage, so anyone can discover it and join it. "Private" means that the hunt will NOT be posted on Troop's homepage, so it will only be discoverable with a link to it.

Once a hunt successfully acquires its target NFT (and thus no one can join it), it will show up on Troop's homepage, regardless of whether it is "public" or "private".

Starting a hunt costs gas, as we need to publish the hunt on the Ethereum blockchain.

Join a hunt / Add funds

To join a hunt, you must add funds to it. Go to the hunt's detail page, and click the CTA "Add Funds". Then select the amount you'd like to contribute, in ETH. If the hunt is successful, you'll be able to claim tokens. If the hunt fails, you’ll get your contribution back.

Joining a hunt costs gas, as you're sending funds to an Ethereum address.

Invite friends

Invite your friends by sharing the link to the hunt. You can share it in your group chat, Discord, Twitter, etc — whatever makes the most sense for your group.

Complete purchase

Whenever the hunt has raised the full amount needed to acquire the target NFT, anyone can complete that action by clicking on "Complete Purchase". The smart contract will then acquire the NFT from OpenSea using the funds raised by the hunt.

Completing a purchase costs gas.

Claim ownership tokens

Once a hunt acquires its target NFT, the NFT is fractionalized using the Fractional protocol, and hunt members can claim their ERC-20 ownership tokens, which are essentially their "shares" in the NFT.

Click on "Claim $TOKENS" to claim yours. Claiming ownership tokens costs gas.

The first hunt member to claim their ownership tokens will actually trigger the fractionalization of the NFT.

Price the acquired NFT

Token holders can vote on what price they'd be willing to sell the acquired NFT at any time. The votes will be weighted by the number of ownership tokens a given member holds. Once 50% or more of tokens have placed a vote, the NFT will be listed for sale on Fractional at the weighted average of the votes.

To vote on a price for the NFT, click on "View on Fractional". Then, on Fractional's website, Settings & Actions > Update reserve price.

Token holders can change their proposed price whenever they want.

Fractional has guardrails such that token holders cannot set a reserve price greater or less than 5x the current weighted average.

Sell ownership tokens

Members of a hunt can always sell some or all of their ownership tokens. You can do so by sending it to someone or, if there's liquidity pool for that token, trading it in a decentralized exchange.

When transacting directly we someone, we recommend using trader.airswap.io.

When trading using a liquidity pool, Fractional offers a UI on their website as well:

Sell the NFT

Once 50% of tokens have placed a proposed price for the NFT, the NFT will be listed for sale on-chain and visible in Fractional. Anyone can then bid to buy the NFT at that price. Once that bid is placed, a 7-day auction is triggered.

At the end of the 7 days, the highest bidder wins the NFT, and fractional owners are able to trade all their ownership tokens in for the ETH that was deposited by the auction winner on a pro-rata basis. The ownership tokens that are traded in for the ETH are then burned by governance.

You can trade your ownership tokens for ETH after a buyout on Fractional's website.

Reclaim unused funds

After the hunt's expiration date, if the target NFT has not yet been acquired, members of the hunt can reclaim their funds from the hunt. Moreover, in a scenario where more funds were added to the hunt than necessary to acquire the NFT, members can similarly reclaim the unused funds.

Reclaiming unused funds costs gas, as you’re pulling funds from a smart contract to your wallet.