Internet Wizards FAQ

Short answers to the questions people actually ask before (and right after) conjuring their first Internet Wizard. Magic Internet Finance (MIFI) is an SPL token on Solana; locking 100,000 MIFI conjures one Wizard NFT with its own vault, and every active Wizard receives an equal share of the protocol's actual revenue as SOL, which its chosen spell keeps as SOL, swaps to tokenized BTC, or swaps to more MIFI. Where this page quotes a fee, threshold, or timing, it is a proposed launch default unless it says otherwise; rewards depend on real activity, and nothing here is a forecast. Longer explanations live on the sibling pages linked throughout and listed at the end.

The basics#

What is MIFI, in one sentence?#

MIFI is an SPL token on Solana (6 decimals, 1,000,000,000 total supply) that launches on Meteora's Dynamic Bonding Curve and migrates to a Meteora DAMM v2 pool. Lock 100,000 MIFI and you conjure one Internet Wizard: a transferable Metaplex Core NFT with its own on-chain vault that earns one equal share of actual protocol revenue. Sell the Wizard with its vault, or dispel it to get the MIFI and everything else in the vault back. The full tour is in Magic Internet Finance: Overview.

Where do I get MIFI?#

MIFI launches on Meteora's Dynamic Bonding Curve and, once the curve completes, trades in a Meteora DAMM v2 MIFI/SOL pool; the Buy MIFI button in the app takes you to the live venue. It is an ordinary SPL token with no transfer tax, no transfer hooks, no rebasing, and no hidden mint. Token details are in The MIFI Token.

Is this related to "Magic Internet Money" or to Bitcoin?#

No. MIFI is a new project inspired by the internet wizard aesthetic; it has no affiliation with any earlier "Magic Internet Money" project, any Bitcoin organization, or any exchange. Bitcoin is the lore; Solana is the settlement network.

Do I lose my MIFI when I conjure?#

No. Your 100,000 MIFI is locked as principal inside your Wizard's vault and comes back in full, to the base unit, when you dispel. Principal is never burned or used to pay rewards, and no instruction in the program lets a swap, the keeper, or the admin spend it (the remaining trust point, the upgrade authority, is covered under Trust and safety below). Locking reduces freely circulating supply; it does not reduce total supply.

Can I lock more than 100,000 MIFI into one Wizard?#

No, and you cannot conjure half a Wizard either. Every Wizard holds exactly 100,000 MIFI of principal and carries exactly one reward share. If you want more exposure, conjure more Wizards; each one earns its own equal share.

Conjuring#

What are the fees?#

Everything below is shown line by line in the conjure quote before you sign. Items marked "proposed" are launch defaults that can be adjusted within on-chain bounds; the app always shows the live values.

The step-by-step walkthrough is in Internet Wizards: Conjure, Own, Dispel.

What exactly is refundable?#

Your principal, plus the rent on your Wizard's SOL holder, its MIFI vault, the NFT account itself, and its state account (less the small part that funds the permanent archive record), all come back when you dispel. Not refundable: the conjure action fee, network fees, and the rent on the permanent art-identity reservation that guarantees your character is never minted again. The quote labels each line so you know which is which.

Why didn't my own conjure fee come back to me as a reward?#

Because a new Wizard never receives revenue that arrived before it activated, and that includes its own conjure fee. The Mana portion of your fee is split among the Wizards that already existed; you begin earning from the very next receipt. So a conjure followed by an immediate dispel returns your principal exactly, but the action fee and network fees stay spent and no rewards were earned. It is the rule that keeps "one Wizard, one share" honest for everyone, including you once you are on the other side of it.

What if the image never renders?#

Your Wizard is fully yours the moment the conjure transaction confirms; the artwork is rendered afterward and may show a "Conjuring..." placeholder for a while. Rendering is asynchronous and retryable, and the picture is derived from identity data fixed on-chain, so any render worker can reproduce it later. You can settle, change spells, sell, and dispel a Wizard whose image is still pending.

Rewards and the Mana Pool#

Where do rewards actually come from?#

Only from revenue the protocol has actually received: the Mana share of conjure fees, trading fees earned by the protocol's fee positions on Meteora (during the bonding curve, and afterward from its locked liquidity position in the MIFI/SOL pool, which charges a 3% LP fee), royalties when a marketplace pays them, and any direct deposits to the Mana Pool. The Mana page labels each source separately so you can see the real mix. Nothing forecast, promised, or "expected" is counted. See The Mana Pool.

Why do rewards depend on new conjures?#

Because one revenue stream is the conjure fee, and conjure fees come from new conjures; trading fees come from trading. We show the two separately rather than pretending rewards are independent of activity. If activity stops, revenue may stop; what your vault already holds stays redeemable, though its market price can fall.

Is there an APY?#

No. Rewards are equal shares of revenue that has already arrived, so there is no rate to quote, and the app never displays one. What you will see is lifetime allocated Mana and current pending balances, which are history, not a projection. Anyone quoting a MIFI APY is guessing.

What does "receipt-time entitlement" mean?#

Revenue is shared among the Wizards active at the moment it reaches the protocol, not at the moment a trade happened on the venue. Trading fees accumulate on Meteora until the keeper claims and ingests them, which it does frequently, and the app shows "claimable on venue, not yet received" as a separate figure. Every receipt is divided equally by the active Wizard count at that instant; serial, age, traits, stage, and spell never change your weight.

Do I need to claim my rewards?#

No. Your entitlement accrues automatically through a global index, and "settling" simply moves whole lamports from the Mana reserve into your Wizard's vault; anyone can trigger it and the keeper does so routinely. Spell execution then converts the settled SOL once it reaches the minimum amount. You can press either button yourself from your Wizard's page.

What is the difference between unsettled, pending, and retained SOL?#

Unsettled SOL is owed to your Wizard by the index but not yet moved into its vault. Pending SOL has been settled into the vault and is waiting for its spell to run. Retained SOL is what a Sol Spell Wizard keeps. All three belong to your Wizard, and the estimated NAV counts each lamport exactly once.

What is the bootstrap reserve?#

Revenue that arrived while zero Wizards were active had no one to share it, so it sits in a visible bootstrap reserve inside the Mana Pool. It is not automatically handed to the first Wizard conjured. It stays unallocated unless an explicit, published policy says otherwise.

What is dust?#

SOL is counted in lamports (1 SOL = 1,000,000,000 lamports), and dividing a receipt equally among many Wizards leaves remainders smaller than a lamport. Your Wizard's own sub-lamport fraction is carried forward exactly and never rounded away, so ten small settlements pay the same as one large one. Dust is the leftover nobody can be paid: the global division remainder from each receipt, plus a Wizard's final fraction when it dispels. It is recorded and reconciled, and it amounts to fractions of a lamport.

When does my spell run, and who pays for it?#

Proposed defaults: the keeper runs spells when aggregate processable Mana reaches 10 SOL, or when a periodic scan finds jobs worth executing, and each Wizard also needs a minimum viable amount before a swap is attempted. Small entitlements simply accumulate; they are never discarded or reassigned. Keeper network fees come from the protocol's operating allocation, never from your entitlement; if that budget runs dry, the keeper waits and you may pay network fees to execute your own spell. Slippage and pool fees affect swap output, and the app shows the actual result.

Spells#

Is Orange native Bitcoin?#

No. Orange Spell holds the configured tokenized BTC asset (shown in the app with its issuer, mint, and decimals), which is a Solana token representing BTC, not bitcoin in a Bitcoin wallet. That means it carries the issuer's or bridge's custody model, which the app displays alongside the asset. On dispel you receive the tokenized BTC itself; you are never forced to swap it.

Can I change spells?#

Yes, at any time, as the current owner; you also pick your first spell when you conjure (Orange is the proposed default once its asset and route are configured, and until then the app marks it unavailable). A change settles your Wizard first, then applies to unprocessed pending SOL and everything earned afterward. It never sells what you already hold (a former Orange Wizard keeps its tokenized BTC while its orb turns Sol-colored), and any execution job queued under the old spell is rejected on-chain by the strategy nonce. See Spells.

Does Infinity earn more because it "compounds"?#

No. All three spells receive identical gross SOL for the same period; Infinity just spends its SOL on MIFI and holds it as extra vault balance. That extra MIFI never raises the Wizard's reward weight above one, so "compounding" means token accumulation, not a bigger share. The MIFI is bought on the market, never minted.

What happens if a swap fails?#

It rolls back and your SOL stays pending for a later retry; nothing is deducted and nothing is stuck. A bad route for one Wizard never blocks the rest of the collection. Dispel does not depend on any swap or price feed, so you can always exit with SOL as SOL.

Owning, selling, and buying#

Can I sell a Wizard with rewards inside?#

Yes; that is rather the point. The vault, its extra MIFI, its tokenized BTC, its pending and retained SOL, and any unsettled entitlement all travel with the NFT. Nothing resets, nothing is withdrawn, and the seller keeps no special powers. The Wizard does not earn an extra share for being listed or transferred.

What happens to pending SOL when I sell?#

It goes to the buyer along with the NFT, and the buyer can settle and execute it; you cannot withdraw it after the transfer. The only way to take SOL out of a Wizard is to dispel it. So if you want the pending SOL, dispel; if you want the Wizard's position to continue under a new owner, sell.

What should I check before buying a Wizard?#

Vault balances can change right up until your purchase executes: the seller could change spell, run a spell, or even dispel. Refresh ownership and balances immediately before you buy, and treat the estimated NAV as an estimate, not a price. The NFT's market price can sit above or below its estimated NAV. A dispelled Wizard cannot be bought and does not earn.

Where can I sell it, and do royalties apply?#

On any marketplace that supports Metaplex Core; Wizard transfers are unrestricted. The collection carries a 5% advisory royalty (proposed), which means marketplaces may honor it or not; whenever it is paid, 100% goes to the Mana Pool. See Estimated NAV and Marketplaces.

Can someone burn my NFT?#

No. Every Wizard's on-chain state acts as a Metaplex Core oracle that rejects burns, so direct owner burns, delegated burns, and burns by a later owner all fail. The only burn path is dispel, run by the current owner, in the same transaction that returns the vault. Transfers are unaffected, and you cannot accidentally burn it from a wallet either.

Dispelling#

What do I get back when I dispel?#

Exactly 100,000 MIFI of principal, any extra MIFI, any tokenized BTC, all pending and retained SOL, and the recoverable rent, in one transaction with a proposed 0 SOL action fee. The review screen lists exact token amounts before you sign, with USD shown only as an estimate. Your Wizard's serial and character retire permanently, though its profile stays readable in the archive with its final portrait and closing balances. See Internet Wizards: Conjure, Own, Dispel.

Can I withdraw SOL or BTC without dispelling?#

No. A Wizard is one indivisible position: you either hold it, sell it with everything inside, or dispel it and receive everything at once. There is no partial withdrawal, which is also why the whole vault always travels with the NFT; its contents can still change until a sale executes, so refresh before buying (see above).

Art and numbering#

Why is my Wizard number so high?#

Serials count every Wizard ever conjured and are never reused; when a Wizard dispels, its number retires with it. Wizard #4,213 is the 4,213th ever conjured, not one of 4,213 living Wizards. At most 10,000 can be active at once (1,000,000,000 divided by 100,000), and in practice fewer, since MIFI sitting in pools and wallets is not collateral. The number has no effect on rewards.

Is the art random?#

No. Each Wizard's structural identity (pose, robe, hat, face, beard, prop, familiar) comes from a public permutation over the catalog's approved combinations, which guarantees no combination is issued twice, including after dispel. Secondary details such as palette, background, and line wobble come from a seed built from fixed on-chain values. It is predictable and reproducible, not a lottery, and it is never used for anything financial.

Are rare traits, old age, or high stages worth more?#

Not to the protocol. No trait, serial, age, or cosmetic stage changes a Wizard's reward weight, which is always exactly one. The market may price a crooked hat however it likes; that is between buyers and sellers.

Does my Wizard's appearance change?#

Changing spells recolors the orb and a few accents; cosmetic stages add small overlays based on age and lifetime allocated SOL (proposed thresholds: 7 days with any allocated Mana, 30 days plus 0.05 SOL, 90 days plus 0.25 SOL, 180 days plus 1 SOL). Face, hat, beard, robe, and pose never change, stage never decreases, and earlier renders stay recoverable. If a Wizard or a sample is labeled PROTOTYPE, its art is programmer-drawn placeholder work that proves the system and is not finished collection art. More in Wizard Art: How Your Internet Wizard Gets Its Look.

Trust and safety#

Has the program been audited?#

We are not claiming an audit. Independent review of the financial program is listed as an open launch item; check the project's published status before relying on it, and treat MIFI as new software in the meantime. Do not lock more than you can afford to have at risk.

Can the team or the keeper take my funds?#

No instruction in the program can spend a Wizard's principal, and the keeper can only run spells within program-enforced limits; it has no withdrawal authority. The admin can adjust bounded parameters (fees, thresholds) and pause new conjures, spell execution, or revenue ingestion, but can never change the 100,000 principal, the token mint, or the collection, and can never pause settlement or dispel. The remaining trust point is the program upgrade authority, which is to be held by a multisig with a disclosed upgrade policy. The full authority inventory is published with the project documentation.

Read more#