Own the culture.
Earn the gold.
Forge it forever.
5,000 pendants on Robinhood Chain. Each one earns real gold, silver or platinum every hour, funded by trading and by every piece that sells within the collection. Every part is a production file. Choose the centerpiece and the metal. We make it for real.
↓ Read the paper
5,000 digital pendants.
Thousands of possible combinations.
One empty center.
What goes there is up to you.
5,000 pendants on Robinhood Chain, each makeable in silver, gold or platinum. Every part of every pendant is a production file. Activate one and it earns real metal every hour. Gold by default, silver or platinum if you choose, bought on the open market with fees from trading and from every piece that sells within the collection. When you are ready, choose the centerpiece and the metal. We make the piece for real, and your earnings come off the price. When a piece is made physically, your digital pendant becomes a soul and earns its share of a 10% rewards pool forever.
01 Trading and pieces made real pay fees.
02 Fees buy real gold, silver or platinum on the open market.
03 Pendants that are on earn that metal every hour, by level.
04 Holders burn $KARAT to activate and level up. Supply only falls.
05 Make it real: the relic ships, and the pendant becomes a soul.
06 Souls share a tenth of every round. Fewer pendants share the rest.
Pendants earn precious metal. The thing you can have made is made of it. Earning and making are separate. A pendant earns because it is staked, not because it is saving toward a purchase. The gold in your hand and the metal in the piece are the same substance.
$KARAT is never emitted, never paid out, never staked for more of itself. It is bought on the open market and destroyed in use.
Fine jewelry cannot tell you what it is worth. Web3 cannot make anything you can wear. Both problems have the same solution, and almost nobody is positioned to build it.
The jewelry industry runs on opacity. A customer takes it on faith that the metal is what the tag says, that the stones are what they are called, and that a four-times markup reflects something other than a shop floor and unsold inventory. Provenance is a paper certificate in a drawer. Authentication is a relationship with a jeweler you hope stays in business. Nobody publishes the arithmetic, because the arithmetic is the business.
Web3 has the opposite problem. It has solved provenance, ownership and verifiable scarcity completely, then applied all of it to objects that do not exist. On every chain, the best projects have converged on the same architecture: a capped collection, a token that gates participation, and fees that accumulate value inside the NFT itself. It works. But every exit from those systems is a sale. Value enters as speculation and leaves as speculation, and nothing is ever made.
M3MORIES closes both gaps with one mechanic. A pendant built from real production files, earning real metal toward the moment it becomes the object it depicts.
Your savings and your jewelry are the same substance.
M3MORIES is built by Michael Ray, the CryptoJeweler, who spent eight years as a senior CAD designer at the largest fine-jewelry manufacturer in the United States before bringing the craft on-chain in 2021. Every component in M3MORIES was modelled by someone who has sent thousands of files to a casting house and knows what comes back. The collection is not artwork that might one day be manufacturable. It is manufacturing data that happens to be beautiful.
CryptoJeweler has released Chains and ChainsDrops on Ethereum, and EGG$ with its Cores and Parts system on ApeChain, a live collection where holders vault their Eggs to earn YOLK, claim new components, set them into their pieces permanently, and merge four smaller Eggs into one. Alongside it: a token-gated storefront, more than fifteen brand collaborations, and a full influencer programme delivered end to end: design, token-gating, production and fulfillment.
The part that took longest was not the art. It was fifteen months of sourcing and qualifying production capable of making what the files describe, at the standard the brand requires. That relationship is the hard, unglamorous asset underneath everything in this document.
No inventory. No unsold stock. No showroom overhead priced into the piece. CryptoJeweler prices at roughly twice fully-loaded cost. The industry norm is above four times. That difference is what pays a share of revenue back to the people who hold its collections.
Designed to be made. Not just minted.
Every part you see is a production file. The art is the casting file.
128 hand-modelled parts across four sizes and three colors, makeable in silver, gold or platinum. Every one costed and ready to cast. The base is the body. The bail is what the chain runs through. The halo is the ring around the center.
Empty while you hold it. You choose what goes here when you make it real, not before.
Activate it. Real gold, silver or platinum lands every hour. Keep it, or put it toward the real piece.
A pendant is assembled from one base, one bail and one halo, or no halo, drawn from a library of 128 hand-modelled components: 70 bases, 39 bails and 19 halos, each in white, yellow and rose gold. That is 384 finished trait files. The library can produce roughly 11,600 distinct pendants. Five thousand will exist, fewer than half of what it can make.
| Size | Bases | Bails | Halos | Shapes | × 3 colors |
|---|---|---|---|---|---|
| 20 mm | 16 | 10 | 4 | 800 | 2,400 |
| 25 mm | 18 | 10 | 4 | 900 | 2,700 |
| 30 mm | 21 | 9 | 5 | 1,134 | 3,402 |
| 35 mm | 15 | 10 | 6 | 1,050 | 3,150 |
| Library | 70 | 39 | 19 | 3,884 | 11,652 |
Shapes = bases × bails × (halos + none). Counts are from the final trait sheet in the M3MORIES CAD library. Names, not numbers, are what the draw gives you: a 30 mm rose-gold Dreamcatcher base with a Milgrain Scroll bail and a Rope halo is one pendant of 11,652 possible.
Half the library speaks the language of the people who will wear it: DEGEN, NGMI, WAGMI, Degen Cabal, WAGMI Cabal, Yacht Club, Greek Gods, Eth God, Demigod, Overlord, Conqueror, King Louix. The other half speaks the language of the bench: Milgrain, Rope, French Set, Pavé, Bezel, Marquise Array, Baguetti, Dragon Scale, Lotus, Chevron Array, Diamond Channel. Diamond-set components carry their carat weight in the metadata like any other specification. Both halves cast the same way.
Behind each component sits a production .3dm, a print-ready .stl, an augmented-reality .glb, a creator-facing .fbx, and a costed data sheet with metal weight, diamond weight and value. Those values compile up the four layers into a total for the finished pendant. A pendant is not a picture of jewelry. It is a complete bill of materials and a set of casting instructions.
Every pendant is drawn at random from one pool. There are no reserved allocations, no premium band, and no way to buy a better draw. Whoever claims it and however they got there, what you receive is what the draw gives you: a size, a gold, and a set of parts. Rarity is drawn. Standing is earned. A pendant's place in the earning system is not something it is born with; the only way to raise it is to burn $KARAT, and every holder starts from exactly the same place.
Small adds up fast. Large is the long game.
Same earn rate, every size. Bigger costs more to make and is worth more made.
An NFT. A photo. A piece of art. Anything you own goes in the center. Any collection can become real jewelry. A holder of any collection on this chain can set their piece into a M3MORIES pendant and have it made. It costs those projects nothing. Sterling silver, 10K to 18K gold in your color, or solid platinum. You choose the metal when you make it.
You choose the centerpiece. It is cropped, set into the design, and written into the record with its creator and the date. The production files compile automatically.
Each component is printed and cast in the metal you chose: silver, gold in the pendant's color, or platinum. Diamond-set parts go to the setter.
Assembled, polished, quality-checked against the specification sheet the collection itself generated.
The piece ships with an on-chain hallmark carrying its full provenance: what it was, who chose the center, when, and what it is made of.
Physical pieces are priced at roughly twice fully-loaded cost, the same model as the rest of the CryptoJeweler catalogue and well below the industry's four-times norm. In the costed 20 mm library, finished gold pendants land between roughly $1,000 and $1,700 at catalogue value, from a plain Pure base with a Royal bail to a 1.7 mm diamond base with a diamond bail and a Rope halo. Larger sizes cost more to make and are worth more made. The same designs in silver cost a fraction of that; in platinum they are priced on the metal's own weight and market.
Two numbers are published for every piece and never blurred: what it contains, and what it costs to make. A piece costs more than its metal, because the price also covers design, casting, setting, finishing and the people who do that work. Neither number is typed in. Both are computed on-chain from the piece's own specification and a live metal feed, by a formula anyone can read and re-run (§11). The catalogue reprices at launch against the metal prices on the day. The figures above are from when the library was costed.
Every pendant can be made in any of five metals. The design does not change. The metal does, and with it the weight, the price, and how soon your earnings cover it.
| Metal | Color | Notes |
|---|---|---|
| 925 sterling silver, palladium-coated | White | The most accessible exit. Palladium over sterling keeps it bright and slows tarnish. |
| 10K gold | Your pendant's color | The hardest-wearing gold. |
| 14K gold | Your pendant's color | The middle of the three. |
| 18K gold | Your pendant's color | The richest gold we cast. |
| Solid platinum | White | The densest and most durable; the same design weighs more. |
Color. The draw gives every pendant a color: white, yellow or rose. Gold keeps it. Silver and platinum are white metals: a yellow or rose pendant made in either becomes a white piece, and the record shows what was made.
Price. The same design, five prices. Each is quoted in its own metal (§11), and your pendant shows all five against what it has earned. Silver is the fast exit; platinum is the long one. The earn rate is the same whichever you choose.
Not yet costed. The library is costed in gold. Silver and platinum weights follow from the same files by density, but their prices have not been run. That is a gate in §16, and item 02 in §18.
A pendant moves through three states in its life. It spends almost all of that life in the second one, quietly earning. The third is the one nothing else on-chain has.
Minted, asleep. Halo, base and bail assembled from the draw; the center empty; the background black. It already carries its full specification. It earns nothing until you activate it.
ASLEEP · NOT EARNING
Burn $KARAT to activate it. Your metal lands every hour. Climb the ladder, lock it in, multiply your share. Most pendants live their whole life here.
ON · EARNING HOURLY
You choose the centerpiece and the metal. A RELIC is cast, finished and shipped. The pendant does not burn. It converts in place into a SOUL: the piece's record on-chain, and a permanent weight in the soul pool. A pendant becomes one-of-one and becomes an object in the same transaction.
THE RELIC SHIPS · THE SOUL STAYS
The system runs on two things, and keeping them straight is the key to everything that follows. $KARAT sets how fast you earn. The metal is what you keep.
Never earned. Never farmed. Never staked for more of itself. Buy it, burn it. It activates a pendant, climbs the ladder, opens the Vault, and discounts everything CryptoJeweler sells. Burned means gone forever.
SUPPLY ONLY SHRINKS
Real gold, silver or platinum, your choice, earned hour after hour. It lives in your pendant and travels with it if you sell. Not staked. Not lent. Yours, growing.
IT PAYS TOWARD THE REAL PIECE
| $KARAT | Earned metal | |
|---|---|---|
| What it is | A token, traded on the open market | Tokenized gold, silver or platinum, held inside a specific pendant |
| How you get it | You buy it. Never emitted, never farmed | It accrues. Automatically, hourly, to pendants that are on |
| Where it lives | Your wallet | Inside the NFT. It travels with the pendant on resale |
| Supply | Fixed at 1,000,000,000, and only ever falls | Grows every round |
| What it buys | Standing: activation, levels, the discount ceiling, Vault entry | The piece itself |
| When spent | Burned. Permanently destroyed | Transferred to CryptoJeweler, funding production |
| Price exposure | Open market | The metal's spot price |
Metal is bought on the open market with fee revenue, so redeeming it puts no selling pressure on $KARAT. None. The protocol never sells $KARAT under any circumstance. It only ever burns it. The two never substitute for each other.
On Robinhood Chain, gold trades as the GLD Stock Token, silver as SLV, and platinum as PPLT. These are tokenized instruments tracking SPDR Gold Shares, the iShares Silver Trust and the abrdn Physical Platinum Shares ETF, issued by Robinhood Assets (Jersey) Limited as tokenized debt securities, each backed one-to-one by the underlying ETF shares held with a U.S. custody partner, and traded against USDG on the chain's own exchange. Corporate actions are handled by an on-chain multiplier rather than by changing balances, so the number in your pendant never moves except when metal lands in it.
We will say what that is and is not. It is real, verifiable exposure to the price of the metal, settled on the same chain as everything else in this system. It is not a bar in a vault with your name on it. The metal that ends up around your neck is bought by the bench when the piece is made.
Robinhood's Stock Tokens are not available to residents of the United States, Canada, the United Kingdom or Switzerland. That almost certainly includes a large share of the people who already hold CryptoJeweler collections. It is the single most important open question in this document, and it is addressed rather than hidden (§18).
The design answer is a payout election per pendant: each holder chooses which metal their pendant accrues and in which instrument. The system defaults to gold, in the best instrument their jurisdiction allows. The election can be changed once a day, and it is meant to follow the metal you intend to make the piece in.
The price of making a piece real is quoted in the metal it will be made in. A holder earning that same metal is matched: what they have earned and what the piece costs move together. A holder earning a different metal, or USDG, carries the spread between them on whatever remains. The pendant says so, next to the number.
Version 1 of this design also let pendants accrue tokenized equities. This version recommends removing that option. It adds securities surface for no gain, and it dilutes the one story that matters: the pendant earns the thing it is made of.
A pendant does nothing until it is activated. Activating it costs 24,000 $KARAT, burned, and starts the pendant earning metal every hour from the next round on. Nothing to claim. Nothing to sign. It keeps earning whether you are watching or not, and whether or not you ever make anything.
Burn more and the pendant's level rises, and with it its share of every future round. This is the only way standing changes. It cannot be minted, drawn, bought as a bundle or granted. It is burned into the pendant one level at a time.
| Level | Share weight | Total burned | $KARAT discount cap | Also unlocks |
|---|---|---|---|---|
| 10K | 1.0× | 24,000 | 10% | Earning begins; making it real enabled |
| 14K | 1.4× | 75,000 | 15% | |
| 18K | 1.9× | 150,000 | 20% | Priority in the production queue |
| 22K | 2.5× | 300,000 | 25% | Premium catalogue |
| 24K | 3.5× | 850,000 | 25% | 1/1 catalogue; first refusal on custom work |
Burns are cumulative. Climbing costs only the difference. A 24K pendant earns three and a half times what a 10K pendant earns from the same round. The discount cap is the most of any CryptoJeweler purchase you may pay in $KARAT (§11).
Levels survive a sale. Earning does not. When a pendant changes hands it goes back to sleep, and the new owner burns their own 24,000 to wake it. Every resale is therefore a fresh, structural burn. No pendant is exempt. A claim against a Chains NFT arrives holding the 25,000 $KARAT its activation costs, but the burn is still made and the level is still bought (§15).
Two things are called karat, and they never touch. Level names borrow gold's purity scale, but a level is an earning share, not a metal. A 14K-level pendant can be made in silver, 18K gold or platinum, and making a piece in 14K gold does not require the 14K level.
Staking is the whole utility. A pendant earns because it is staked, not because it is saving toward a purchase. What it earns is yours: withdraw it, hold it, sell it, or spend it on a piece. Nothing is earmarked and nothing is held back.
Three things raise your rate over time. Your level, which you control by burning. The pool, which grows as more pieces are made real. And the denominator. Every pendant made real leaves the earning pool for good, and everyone still earning takes a larger share of what remains.
This is the staking mechanism. You stake the pendant, and only the pendant. Lock it for a fixed term and the term sets a multiplier on top of your level, for as long as it runs. No $KARAT is staked alongside it; there is nothing to pair and nothing to lock up but the piece itself.
| 365 days | 2.00× |
| 30 · 90 · 180 days | not yet set |
effective weight = level × term multiplier · capped at 2.0×
A full year is the cap, at 2.0×. The three shorter terms are deliberately blank: they are not settled, and publishing a number before it is decided is worse than publishing none. They are set before the mint opens.
| Configuration | Level | Multiplier | Effective weight | vs. base |
|---|---|---|---|---|
| On, unlocked | 10K · 1.0× | 1.00× | 1.00 | baseline |
| 365-day lock | 24K · 3.5× | 2.00× | 7.00 | 7.0× |
The 2.0× cap bounds the spread between the floor and the maximum configuration at seven to one. Without it the multiplier would pass ten to one and compress small holders' earning toward zero.
There is no way to earn by simply holding $KARAT. Every reward path in the system requires a pendant. The token is a key, not a position. That is deliberate, not an omission.
Two or three pendants owned by the same wallet can be melted into one. Their levels add, then a bonus is applied. Everything earned in the absorbed pendants moves into the survivor in the same transaction. Nothing is stranded. The absorbed pendants are destroyed permanently.
| Melt | Bonus | Result | Supply effect |
|---|---|---|---|
| Two-way | +20% | Levels sum, then × 1.20 | One pendant destroyed |
| Three-way | +30% | Levels sum, then × 1.30 | Two pendants destroyed |
The surviving artwork is generated from the exact pieces that went into it, so no two melted pendants can ever match, and no originally minted pendant can match a melted one.
The trade-off, said plainly. Because the bonus adds weight, a melted pendant earns more than its parents did combined, and every other pendant's share of each round dips very slightly. You gain, and everyone else pays a little for it. Melting reduces the number of pendants but raises total weight. Making a piece real is the only action that removes weight from the system, and the only one that raises everyone else's share.
Seven hundred and fifty pendants, fifteen percent of the collection, are held back from distribution entirely. They are not airdropped, not sold for cash, and not reserved for insiders. They do not mint. They unlock only once the mint has closed, and the only way to obtain one is to buy $KARAT on the open market and burn it.
This is the door for everyone who was not here for the last five years. It means the collection is never closed to newcomers, and it means new interest arrives as open-market buying rather than as a private allocation. Every token spent this way is destroyed. Nothing is routed to a treasury and nothing comes back.
Because the price is set in tokens rather than dollars, the Vault balances itself. If $KARAT falls, entry gets cheaper in dollar terms, demand rises, and the buying burns supply until it does not.
When you are ready, your pendant stops being only a token and becomes an object as well. Order the real piece whenever you want, in whichever of the five metals you want. Your gold is yours throughout. You may spend it on the piece, and most people will. Nothing obliges you to, and nothing was ever set aside for it.
This is also where the design is finished. You choose the metal and the image for the centerpiece here. The image is cropped, set into the piece, and written permanently into the record alongside its creator and the date. The metal sets the price. Then the production files compile, and the piece is cast, finished, quality-checked and shipped.
The price of making a piece real is quoted in the metal it will be made in, not in dollars. This is an accounting requirement, not a presentation choice. A price fixed in dollars would leave the obligation unhedged: a rise in the metal would raise what a holder has earned and raise the cost of production, with the sale price standing still. Quoted in the metal, both sides move together and the margin is preserved. That is why a pendant earns the metal it will be made of. Earn silver and make it in silver, or earn gold and make it in gold, and you are matched. Cross the two and you carry the spread between them.
A jeweler's price is normally a number you are handed. This one is a number you can compute. Every input lives on-chain: the piece's own specification, the cost of the work, the multiplier, and a live market feed for the metal. Anyone can read them, rebuild any price we have ever quoted, and check the one in front of them before they pay it.
This is the answer to the opacity in §02. Not a promise that our prices are fair. A formula you can audit.
| Input | Kind | Where it comes from |
|---|---|---|
| Volume of each component | Configured | Measured from the same CAD file the part is generated and cast from |
| Carat weight & stone count | Configured | The same file |
| Fineness | Fixed | 925 silver 0.925 · 10K 0.4167 · 14K 0.5833 · 18K 0.750 · Pt950 0.950 |
| Density per metal | Configured | Alloy constants. Turns one volume into five weights |
| Casting, setting, finishing, plating | Configured | Bench rates, per gram and per stone. Timelocked and published |
| Diamond price per carat | Configured | By the collection's quality spec. No reliable on-chain diamond index exists |
| Casting loss allowance | Configured | Basis points. Metal lost to sprue, scrap and polish |
| The multiplier | Configured | Published. 2× fully-loaded cost |
| Gold, silver, platinum | Market | Chainlink price feeds on Robinhood Chain, read live |
weight = volume × density(metal)
metal = weight × (1 + loss) × fineness × spot(metal)
stones = carats × perCarat
work = cast(metal) × weight + set × stones + finish(size) + plate(metal)
price = (metal + stones + work) × multiplier
One volume, five weights, five prices. The same file that tells the bench what to cast tells the contract what to charge, which is the only reason a number this specific can be published at all.
| Metal | Weight | Fine metal | Metal | Work | Cost | Price |
|---|---|---|---|---|---|---|
| 925 silver | 8.7 g | 8.0 g | $13 | $112 | $125 | $250 |
| 10K gold | 9.7 g | 4.1 g | $542 | $113 | $655 | $1,310 |
| 14K gold | 11.0 g | 6.4 g | $857 | $123 | $980 | $1,960 |
| 18K gold | 13.1 g | 9.8 g | $1,315 | $140 | $1,455 | $2,910 |
| Platinum 950 | 18.0 g | 17.1 g | $880 | $456 | $1,336 | $2,670 |
Illustrative. One plain 20 mm base of 0.84 cm³, no stones, at assumed spot prices of $130/g gold, $1.60/g silver and $50/g platinum, a 3% loss allowance, and the bench rates above. Live feeds replace every price here. These figures sit above the library's original costing because gold has moved since. That is the point of reading the number from a feed instead of a spreadsheet.
Three things fall out of that table. Silver is a different product. A $250 piece is covered by earnings in a fraction of the time a $2,900 one takes, and it is the reason the collection is not only for people who can spend four figures. Platinum costs less in metal than 18K gold and more in labour. It is denser, so the same design takes more grams. It also melts higher and cuts harder, and the bench rate reflects that. And the spread between the cheapest and dearest way to make one pendant is more than ten to one, which is why the metal is chosen at the end and not at the mint.
Quoted in the metal (§11, above), the silver piece asks about 156 g of silver and the 18K piece about 22 g of gold. Your pendant shows all five, live, against what it holds.
A price engine is only as honest as its oracle, so here is what can go wrong with ours.
The quote holds. A price is struck when you start an order and holds for a published window while you confirm it, so the number you agree to is the number you pay even if the feed moves underneath. If the window lapses, you get a fresh quote rather than a surprise.
What can change, and how. Bench rates, the per-carat figure, the loss allowance and the multiplier sit behind a timelock with public notice (§14); a change is visible before it takes effect and never applies to a quote already struck. The piece's own specification, volume, carats and stones, is written at mint and never changes at all. The market inputs change every block, which is exactly what they are for.
Two things, in one transaction. A RELIC, the physical piece, cast in the metal you chose, finished and shipped. And a SOUL, what your pendant becomes. It does not burn and it is not replaced. The same token converts in place, so the object you have held all along is the object that now records the piece.
A paper certificate sits in a drawer until it is lost. A soul is the piece's record for as long as the piece exists, and it is bound to the object, not to you. Sell the piece and its soul goes with it.
This is the authentication product CryptoJeweler has described since 2021, arriving attached to something a customer already wanted rather than sold as a service on its own.
Making it real used to be an exit: the pendant burned, and whoever made a piece stopped participating. That punished the one transaction this whole business runs on. So it no longer works that way.
Souls share 10% of every round, forever, split between them by weight. Pendants that are still earning keep the other 90%. The share is capped at a tenth so that it cannot grow into the thing it is attached to. However many souls exist, nine-tenths of every round belongs to pendants that are staked and burning.
| Rule | How it works |
|---|---|
| The pool | 10% of each round, shared by every soul. It grows toward that ceiling as souls are made, so the first one does not take a tenth from everyone on day one |
| Your weight | Set when the piece is made and never recalculated. Your level at that moment × an order band: 3× for the first 500 souls, 2× for the next 1,500, 1× thereafter |
| Why level matters | Burning $KARAT to climb before you make it real buys a permanently larger soul, so the token sink survives the conversion it funds |
| On resale | The record travels with the piece. The reward weight does not. It extinguishes on first transfer |
Two things follow. Making it real early is worth more than late, permanently: a soul in the first five hundred holds three times the weight of one in the last three thousand, and holds it for good. And a soul's share is a weight, not an amount. What that weight is worth depends on how many souls exist and how busy the system is, exactly as a pendant's share does. Nothing here is a promised yield.
The reward belongs to whoever commissioned the piece. It cannot be bought second-hand, because it does not survive a transfer. That is deliberate. It is a thank-you for making something real, not an income stream with a market.
| Rail | Asset | What happens to it | Effect on $KARAT |
|---|---|---|---|
| Primary | Earned metal | Transfers to CryptoJeweler; sold on the open market to fund production | None |
| Optional | $KARAT, up to your level's cap | Burned in full. Never sold | Open-market demand, then permanent supply reduction |
| Remainder | Card or USDG | Ordinary sale proceeds | None |
$KARAT received in payment is never sold to fund production. Metal settles into a market deep enough to absorb any redemption without moving the price; $KARAT is burned into a market that is not. Reversing those roles would make every manufactured piece a market sale of the token.
Let R be the retail price and C the fully-loaded cost of goods. Pieces are priced at twice cost, so C = 0.5R. Earned metal credits at face and can cover up to R; any remainder is paid by card or USDG. $KARAT cannot be put toward a piece. It is bought and burned for standing — activation, levels, the Vault — and never for goods, so no sale of jewelry is ever a sale of the token. All metal received is sold to fund production. And σ = 5% of retail routes back into the metal pool for every pendant still earning.
net = R · (1 − σ) − C
| Per 100 of retail | Paid in earned metal, card or USDG |
|---|---|
| Received | 100.0 |
| Cost of goods | −50.0 |
| Back to holders (σ) | −5.0 |
| Gross margin | 45.0 |
Every piece made real funds holders through σ, routed by the escrow contract in the transaction that pays the bench. No sale outside the collection is counted. Margin is not traded for token demand anywhere in this transaction: the token's demand comes from standing, which is bought and burned separately.
Why making it real is a closed loop. It is revenue: the earned metal funds production at gross margin, and it originated in market activity rather than company capital. It is deflation, if no longer threefold: one transaction removes a pendant from the earning pool and converts it into a claim worth a fraction of what it held, raising every remaining pendant's share of the ninety percent that stays with them. And it produces the marketing: each piece made is a physical object, often carrying another collection's artwork, that exists whether or not the chain does.
The soul is a token-bound account (ERC-6551), which is what lets it hold its own record and, if you elect, receive its share directly. It carries the relationship forward: continued access to the token-gated storefront, priority allowlist on every future CryptoJeweler collection, and a visible record that you own something we made. Making it real is not an exit. You stop being a holder and become an owner, and you keep a seat.
Making jewelry takes real time, and quality is not something we will compromise to clear a queue faster. Orders are capped per period and the queue is public; higher levels get priority within it. If the queue grows, you will see it growing. The cap and the lead time publish before launch, and the Bench Reserve holds a buffer against demand that outruns them (§12).
Across the entire CryptoJeweler catalogue, not only pieces made from pendants, a share of any purchase may be paid in $KARAT, up to the ceiling set by your pendant's level. That $KARAT is burned in full. It is never sold.
All of the metal that lands in a pendant was bought on the open market with revenue that came from somewhere real. Most protocols pay their holders out of trading fees. We pay ours out of trading fees and out of jewelry made real in this collection. A protocol whose only income is its own trading volume lives and dies by speculation. Our rewards come from two places: activity on-chain, and pieces cast and shipped, each one paid for through a contract anyone can read.
| Source | Split | Destination |
|---|---|---|
| Collection royalties | 70 / 20 / 10 | Metal into pendants · operations · Bench Reserve |
| $KARAT pool fees | 70 / 20 / 10 | Metal into pendants · operations · Bench Reserve |
| The launch, once | 100% | Every dollar raised becomes permanently locked liquidity. None of it reaches a treasury, and none of it reaches us |
| Activation, levels, Vault entry | 100% | Destroyed. Nothing is routed anywhere |
| $KARAT paid on purchases | 100% | Destroyed |
| Pieces made real | 5% (σ) | Metal pool, for every pendant still earning. Routed by the escrow contract when the hallmark mints |
Operations funding is drawn only from newly arriving fees and can never be recovered from value already credited to holders. Pool fees are our share of the trading fees earned by the launch liquidity, which is locked forever: we can collect the fees and nobody, including us, can withdraw the liquidity itself.
Five percent of the retail price of every piece made real in this collection, σ, goes to the metal pool. It is set aside the moment the holder pays and released to the pool in the same transaction that pays the bench, when the hallmark mints. There is no attestation, no schedule and no term. The base it is computed from is the quote the price engine struck, which is on-chain before anyone pays.
Nothing sold outside the collection is counted. A share of sales elsewhere in the CryptoJeweler catalogue would rest on our word about our own revenue, and a contract cannot verify an invoice. A promise you cannot check is not one we will ask you to hold. Every element of the M3MORIES economy lives inside M3MORIES, where anyone can check it, piece by piece.
σ is a share of price, not of profit. Price is a number the engine publishes before you pay (§11); profit is a definition. It routes on thin months as well as good. The plainest way to say what this means: the way holders earn more is that more pieces get made. Not an announcement. Not a listing. Objects, cast and shipped, each one recorded on-chain.
A treasury accumulating ten percent of every fee source. It funds physical giveaways to randomly drawn pendants that are on, at published triggers, using the chain's verifiable randomness; in-person activations; and a fulfillment buffer against demand for pieces that outruns the bench. Under this design it also posts the fulfillment bond (§14).
Fees come in from two engines. Metal lands in pendants. Around it goes.
Reading the loop. Trading activity and pieces made real generate fees. Seventy percent of those fees buy metal, gold, silver or platinum by each pendant's election, deposited hourly into every pendant that is on. Because that balance is on-chain and travels with the pendant, a rising balance places a rising, verifiable floor under each pendant's resale value. Higher turnover feeds token demand twice: every new owner burns to activate, and holders burn further to climb. Melting concentrates weight into fewer pendants; making a piece real moves a full share out of the earning pool and leaves a tenth-weight soul behind. It also puts an object into the world that draws the next person in.
The metal itself does not compound. It sits in your pendant. Not staked, not lent, not deployed anywhere. It simply accumulates and waits for you. There is no strategy underneath it that can break.
Where the loop can stall. Earning depends on fee revenue. In periods of low trading and few pieces made real, pendants earn slowly and it takes correspondingly longer for a pendant to cover its price. Nothing in the mechanics guarantees a rate or a timeframe. Pieces made real dampen this by supplying an income that does not depend on trading. They do not eliminate it. σ is proportional to pieces made, and that varies.
Which produces an unusual alignment, and we think a healthy one: it is in every holder's interest for other holders to make their pieces real. One person's exit is everyone else's raise.
A pendant earns metal whether or not CryptoJeweler shows up tomorrow. The one thing no contract can do is cast it. So the design puts the whole economy on-chain, then bonds, escrows and publishes the one step that has to happen at a bench. Here is the honest map.
So the design does four things about it.
"Completely decentralized" is a claim we will not make about the bench, and you should distrust anyone who makes it about theirs. What we will do is make every promise that can be checked, checkable, and bond the one that cannot.
Holders go first. Claims burn the old collections, so supply falls for good. When the mint ends, every door closes forever, and the Vault becomes the only way in.
Burn one Chains NFT for one pendant, with your storefront access intact. The claim arrives holding 25,000 $KARAT: 24,000 activates it at 10K, and 1,000 stays in the wallet. How many claims a wallet may take is set by its Chains tier, from ten to thirty.
Four Eggs burned for one pendant, arriving funded the same way. Five claims per wallet, twenty Eggs, separate from any Chains allocation. The Egg merge is still coming: this is a second option at the same four-to-one, not a replacement.
Communities across Robinhood Chain, by invitation. $50, or 100,000 $KARAT burned — either price takes the same draw.
The Vault, held back entirely and opened to anyone once the mint has closed. 240,000 $KARAT, burned.
| Who | Claims | How |
|---|---|---|
| Chains holders | 2,000 | 1 Chains NFT = 1 claim, burned. Its tier sets how many the wallet may take, 10 to 30 |
| EGG$ holders | 1,000 | 4 Eggs = 1 claim, burned. Five per wallet, separate from Chains |
| Partners | 1,250 | Allied communities. $50, or 100,000 $KARAT burned |
| The public sale | 750 | The Vault. 240,000 $KARAT, burned. Open to anyone once the mint has closed |
Every claim draws a random pendant from the same pool. A Vault claim and a Chains claim are the same draw, and both start at 10K. The difference is only in what it cost to get there.
The burn window closes at mint. Burning Chains or EGG$ for a pendant is available during the mint only. When it ends, that door closes permanently. No old collection will ever be burnable for a pendant or for tokens again. After that there is exactly one way to claim a new pendant: the Vault. Every route in becomes a route through the token.
A Chain's rarity becomes a wallet's allocation. Every pendant starts at 10K and climbs by burning; no claim arrives further up the ladder than any other. What a Chains tier sets is how many claims the wallet may take — ten at Base, Gold and Platinum, rising to fifteen, twenty, twenty-five and thirty at Diamond, Mega Diamond, Legendary and Omega. Five years of rarity does not evaporate when the Chain does; it moves across as standing in the drop. A wallet short of the Chains to fill its allocation may buy and burn more while the Chains claim is live: the tier is what the wallet is registered at, not what it holds at any moment. EGG$ carries its own five claims on top, so a wallet holding both takes both.
On the EGG$ merge. The EGG$ roadmap promised holders the ability to combine four smaller Eggs into one. That promise stands. What M3MORIES adds is a second door at the same ratio: any holder who prefers it may burn four Eggs instead of merging them, and claim a pendant, one that earns gold and can be made real. Nobody has to take this route. Eggs convert into claims, not into tokens.
Storefront access carries forward. Chains is the key to the CryptoJeweler shop, and burning one must never cost anyone that access. Every pendant inherits those rights in full. Nobody ends this trade with less than they started.
No token airdrop, and no allocation. $KARAT is not airdropped and no share of it is reserved. Not for the team, not for investors, not for a treasury. Legacy holders receive value as pendants that are already earning, never as tokens. The entire billion goes into a public bonding curve: buyers take what they buy, the money raised pairs with what is left as liquidity that is then locked forever, and the remainder is burned on the spot. There is no allocation to unlock because there is no way to create one. Anyone can read the curve and price every buy on it before it opens.
What the launch venue can and cannot do. $KARAT opens on a public bonding curve. It caps how much of the supply any one wallet can buy, it opens on a published schedule, and the terms are fixed the moment the launch is created. They cannot be changed afterwards by anyone, including us. When the curve completes, the money raised is paired as liquidity and minted straight into a permanent lock with no withdrawal path for anyone, us included. What we keep is a share of the trading fees that liquidity earns, and that share is routed to holders (§12). We do not run the venue, and §17 says plainly what that means.
M3MORIES is distributed by rewarding the people who were already here. That is the template, not a one-off. If further collections follow, holders of M3MORIES, Chains and EGG$ come in on the same basis: allocation before the public, ratios that reflect what you already hold, and existing benefits carried forward instead of replaced. That is the commitment we intend to be judged on.
Before anything mints: contracts audited, addresses published in one place. Legal review of the metal rails and of who can hold what, by jurisdiction. The 25, 30 and 35 mm library costed, and every size costed in silver and platinum. Component volumes measured, bench rates agreed, and the price engine deployed and reconciled against hand-priced pieces. Production capacity, cap and lead time confirmed with the bench. The launch venue reviewed, and the exact terms of the curve published before it opens.
Snapshot published for Chains, ChainsDrops, EGG$, Cores and Parts, with the full Chains-tier to level mapping and the YOLK conversion. The burn window opens; claims allocated by cohort. It closes permanently at mint.
$KARAT opens on a public curve with the whole supply loaded in and nothing held back. When it completes, the money raised is locked as liquidity and the unsold remainder is burned. Legacy claims run alongside it and cost no $KARAT. The public mint and the Vault open once the pool is live, so a newcomer buys at a settled price rather than partway up a curve. Turning on, levels and locking go live, pendants begin earning on the first round, and a public explorer opens: any pendant’s metal, level and lock, readable by anyone.
The catalogue publishes with metal content and a live price in each of the five metals for every piece, computed on-chain. Ordering opens. Choose the centerpiece, and it is set into the piece as it is made. The first pieces are fulfilled and documented end to end, from file to finished object, with the hallmark shipping alongside.
The Vault unlocks: 750 pendants, claimable only by burning $KARAT. Melt events at anchor moments in the calendar. Cross-collection pieces with other Robinhood Chain communities. Bench Reserve giveaways at published triggers. Then SIGN3T, the second collection, feeding the same token and the same holders.
The projects worth trusting are the ones that tell you how they can fail. Here is ours.
Your pendant's metal comes from trading fees and a share of every piece made real in this collection. If both are quiet, pendants earn slowly. We are not projecting volume, promising a rate, or saying when a pendant's earnings will cover its price. Your pendant shows you exactly where it stands. That is the only number that matters.
It cannot be earned, staked for more of itself, or held for a return. It is not equity in CryptoJeweler; it carries no ownership, no shareholder rights, and no claim on revenue or profits. It buys standing inside a jewelry program, and it is destroyed when spent.
Gold, silver and platinum can all go down. $KARAT is traded and can lose value quickly. A pendant's resale value is guaranteed by nothing except what it holds, which anyone can read before buying.
A pendant's floor is the metal it has earned. In the period right after launch, when pendants hold little, there is correspondingly little beneath a pendant's price.
Tokenized gold, silver and platinum on this chain are issued by a company, backed by a custodian, and are not available to residents of several countries including the United States. Where they cannot be delivered, a pendant earns an allocated-gold token if one is available, and otherwise dollars. The exposure is to the price of the metal, not to a bar with your name on it.
We will not rush quality to clear a queue. Orders are capped per period and the queue is public. If it grows, you will see it growing. Escrow and a fulfillment bond protect an order; they do not shorten a lead time.
Souls share a tenth of every round between them, so what one soul earns falls as more are made and rises as the system gets busier. It is permanent participation, not a promised return, and it confers no ownership of CryptoJeweler. It ends if you sell the piece.
Metal prices come from Chainlink. A stale or manipulated feed would mis-price a piece, so the engine bounds staleness and deviation and stops quoting rather than quoting wrong, which means the shop can close for a while. The bench rates, the per-carat figure and the multiplier are our numbers, published and timelocked, not market-set.
$KARAT opens on a public launchpad. Its code is published and readable and it has carried well over a thousand launches, but it has not been audited by an outside firm, and the people who run it hold an ordinary key that can change settings and recover funds. Two things bound that. The terms of our launch are fixed the moment it is created, so they cannot be altered afterwards. And the liquidity lock at the end is permanent. What is not bounded is the launch itself: until the curve completes, the money raised sits in their contract rather than ours. It is the one place in this design where value we do not control passes through a door we did not build, and it is temporary rather than removable. The launchpad also takes a small share of the trading fees on the curve, which is theirs and not ours.
Value reaching holders depends on the continued operation of the settlement layer, the exchange that supplies fees, and the issuers of the metal instruments and the stablecoin. A failure at any of those layers would affect this system regardless of whether its own contracts work exactly as designed.
Every on-chain system does, audited ones included. Contract addresses live in one place. We will never message you first, and never ask you to sign anything on another site.
Fee-funded earning scales with trading, and trading varies with interest in the system itself. Pieces made real supply demand that does not depend on trading. That does not remove the dependency, and it is not guaranteed to grow.
CryptoJeweler is a founder-led business with a small team and one qualified production relationship. That is a concentration. §14 exists because of it.
Some features may be unavailable in some places. Where that applies it will be stated plainly rather than buried.
This version was rewritten against every document in the M3MORIES archive and against what is live on Robinhood Chain today. These are the things it found that a decision, not more writing, will settle.
The whole design assumes holders can accrue tokenized metal. On this chain that is the GLD, SLV and PPLT Stock Tokens, and Robinhood bars them to U.S., Canadian, U.K. and Swiss residents, likely most of the existing holder base. Recommendation: adopt the dual rail in §06 (the Stock Tokens where eligible; an allocated-gold token such as PAXG bridged to the chain for everyone else, with no equivalent for silver or platinum; USDG as the floor), and get a legal opinion on both rails before the snapshot. Nothing else in this document matters as much.
The final trait sheet carries weight, carat and cost for every 20 mm component, in gold, without saying which karat. It carries zeros for all 25, 30 and 35 mm parts. Silver and platinum are not priced at any size. Recommendation: finish the costing for every size in all five metals, state the karat each gold figure assumes, and re-run everything against the metal prices on launch day; it is a gate in §16, not a follow-up.
Version 1 let pendants accrue tokenized stocks. It widens the securities surface, invites the "marketing program" contortions other projects on this chain have needed, and blurs the one sentence that sells this: the pendant earns the thing it is made of. Recommendation: gold, allocated gold, or dollars. Nothing else.
Hourly rounds, a burn to switch on, a level ladder and ownerless custody are a shape this chain has run before, and one project that ran it has since shut down. Settled: the paper describes the mechanics as its own and names no one. What carries the claim is the three things that are ours: a physical exit, a second engine that does not depend on trading, and a five-year holder base brought in by burning what they already own.
Version 1 transferred earned metal to CryptoJeweler at the moment of ordering, with delivery on trust. §14 replaces that with escrow released on hallmark, a timeout refund, and a fulfillment bond from the Bench Reserve. Recommendation: specify these in the contracts and audit them with everything else. They are what lets the paper use the word "decentralized" without flinching.
Settled, and not as written. There is no 24,000 public mint: partners pay $50 or burn 100,000 $KARAT, and the public buys from the Vault at 240,000 once the mint has closed. The recommendation to fold activation into the mint was taken in a different form — a Chains or EGG$ claim now arrives holding 25,000 $KARAT, of which 24,000 activates it and 1,000 stays in the wallet, so a claimant's first burn is funded rather than bundled. No claim arrives already on.
The queue is only a promise if its cap and lead time are numbers. One qualified bench, minimums, and seasonal casting calendars all bound it. Recommendation: agree the per-period cap and standard lead time with production, publish both in §11, and size the Bench Reserve bond to them.
The 2023 drafts imagined interchangeable bails and halos, a parts marketplace, a jewelry-box key, and a soulbound state after the center was set. None of it is here, on purpose: a pendant whose parts can change cannot be costed, and a costed pendant is what makes the discount honest. Recommendation: keep them parked, say so, and let SIGN3T carry the interchangeable-parts idea the way EGG$ does today.
The landing and community pages still say "heavier every hour" and describe the retired weight mechanic. They contradict this paper and the site. Recommendation: rewrite both against §05–§11, or retire them.
The earning levels are named 10K to 24K; the purchase purities are 10K, 14K and 18K. A holder at the 18K level buying a 14K piece is a sentence that will confuse someone. Recommendation: keep the ladder names, which were chosen deliberately, but never write "your karat" for a level; say level for earning and purity for metal, as this paper now does, and decide before the site goes wide whether the level names should change.
Silver and platinum are white. This paper assumes any pendant can be made in any metal, and that a yellow or rose pendant made in silver or platinum becomes a white piece. The alternative is to restrict the white metals to white-drawn pendants, a third of the collection. Recommendation: decide before the catalogue publishes; the working assumption here is any pendant, any metal.
Every other reward path here requires a staked pendant and an ongoing burn; the paper leans on that (§17: $KARAT cannot be "held for a return"). A soul pays on for a single past act. Non-transferable weight, extinguishing on resale, and the receipt-first framing all point at a loyalty rebate rather than a revenue share. This is the one mechanic in the document that changes the compliance posture. Recommendation: put it in front of counsel at the §16 gate, framed as a permanent rebate attached to a purchase, and be ready to ship the soul as a pure record with the pool switched off if the answer comes back wrong.
3× / 2× / 1× at 500 / 1,500 / 3,000 is a shape, not a calibration. It has to be steep enough to pull forward physical revenue and flat enough that a late maker still bothers. Recommendation: model it against the production cap from item 07. The bands cannot pull demand forward faster than the bench can cast.
The engine in §11 exposes the margin on every piece: read the inputs, apply the formula, and the 2× is right there. No jeweler does this. It is the strongest trust claim in the document and it is irreversible. You cannot un-publish a multiplier. Recommendation: publish it, because the alternative is a formula with a hole in it that defeats the purpose; but decide it deliberately, and decide now whether the multiplier is a single number or varies by metal and size.
Five-metal pricing needs each component's volume, because one volume gives five weights. The trait sheet stores a gram weight, in gold, at an unstated karat. Nothing can be priced in silver or platinum until volumes are extracted from the CAD. Recommendation: extract volume per component and store that as the canonical figure; derive every weight from it. It is a day of work in Rhino and it unblocks items 02 and 11.
GLD, SLV and PPLT track trusts whose shares drift against the metal, and Chainlink's tokenized-equity feeds carry no heartbeat off-hours. A Sunday order would otherwise price off Friday's close. Recommendation: confirm which metal feeds exist on this chain, since the docs name equities and Stock Tokens generally but do not list the metal ETFs. If a direct metal reference is unavailable, publish the ounces-per-share conversion and accept that quoting pauses out of hours.
A pendant earning gold but made in silver, or the reverse, carries the price ratio between the two on whatever it has not yet covered. Recommendation: default each pendant's election to the metal its holder has flagged for making, show the spread on the pendant, and switch the election automatically when the holder commits to a metal.
There is no shortage of collections that accumulate value. There is no shortage of jewelry brands. What has not existed is a single object that is both. One you own digitally, fill with something that means something to you, watch grow in a material you can hold, and eventually wear. The hard parts are already done. The components are modelled and costed. The production is qualified. The files a casting house needs are the files the collection is generated from. Five years of holders are already here. We are not asking anyone to believe a projection. We publish the mechanism and let the counters speak.
Hold it. Let it earn. Then wear it.
CryptoJeweler · Robinhood Chain