Participation & USDC Conversion

Project-funded USDC becomes distributable only when every wallet in the valid eligible snapshot completes its free mint.

The 100% mint completion condition#

participationtext

Participation Rate = Completed Eligible Mints / Eligible Staker Wallets
Distribution Unlock = Participation Rate equals 100%

Eligible	Completed	Rate	Result
1,500	1,500	100%	USDC distribution unlocked
1,500	1,499	99.93%	USDC distribution remains locked

Each project includes a primary mint window, a recovery and reminder window, a live participation dashboard and a final settlement timestamp. If the condition is not met by the deadline, the project pool remains in the MintGate Reward Vault and rolls into a future qualifying distribution. It is not transferred to Hazels as operating revenue.

Conversion to USDC#

Project-contributed NFTs receive no artificial or guaranteed value. They are converted only after legitimate secondary-market sales occur. Unsold NFTs remain in the Reward Vault and do not enter the distributable USDC pool.

net-pooltext

Net USDC Pool = Gross Realized NFT Sale Proceeds
  - Marketplace Fees
  - Creator Royalties
  - Gas, Execution and Conversion Costs

Illustrative conversion#

Item	Amount
100 contributed NFTs x 80 USDC average realised price	8,000 USDC
Marketplace fees	-160 USDC
Creator royalties	-400 USDC
Gas and execution costs	-100 USDC
Net staker distribution pool	7,340 USDC

Only realised net proceeds are distributed. Estimated floor value is never used as the payout basis.