Downbad.farm deploys marketplace V2 with creator-set royalties

2026-08-11

market · nft · marketplace · royalties · lending · p2p · discovery · web · updated

The field narrows to two

With RandGallery — Algorand's oldest NFT marketplace — having wound down, only Dartroom and downbad.farm still show recent activity among the chain's NFT venues. Downbad describes itself in its terms of use as 'a hobby project that gives you an interface to public smart contracts on the Algorand blockchain' — not a company, exchange, broker, or custodian.

Behind that modest frame, the operator has spent the summer rebuilding the contract that holds every NFT listing on the site. The new 'composable marketplace V2' changes who sets royalties, how fees are split, and where a listing can be bought.

V2: royalties and listings get composable

The original listing contract, now labeled v1, baked its rules into itself: a 5 percent creator royalty and a 3 percent marketplace fee — 1.5 percent on each side of a trade — on every sale of every collection, immutably. V2 keeps those numbers as defaults but makes them adjustable.

Concept	v1 (old contract)	v2 (new contract)	Real-World Implication
Creator royalty	5%, hardcoded	0-10%, chosen by the creator, changeable any time	Creators can fit fees to their community instead of inheriting a platform default
Marketplace fee	3% on every sale	Set per listing, displayed before purchase	Buyers and sellers see exactly what each party earns on every sale
Seller override	Not possible	Optional, capped where the creator allows	Collections can run fee-waiver promos or loyalty events
Multi-edition listings	Awkward in v1	Supported natively	10, 100, or 1,000 copies of an NFT can be listed at once

Each listing's royalty rate is fixed at the moment it is created; changing a collection default later affects only new listings. Repricing is implemented as cancel-plus-relist, so terms cannot be silently altered, and every sale is atomic — payment and NFT transfer settle together in one on-chain transaction or not at all. The rebuild also patches what the docs call 'a handful of small vulnerabilities' in v1, including edges where bits of fee occasionally went missing on certain sales.

The larger change is composability. Every v2 sale pays two marketplace addresses — the one where the listing was created and the one where the buyer clicked Buy — with the same cut going to each. Another marketplace can integrate the contract, render downbad's inventory in its own interface, and earn the buyer-side fee on the sales it drives; the listing itself never moves, remaining the same on-chain object shown in two places. As the project's docs put it, 'We get there together, not by walling each other off.'

The rollout runs both contracts in parallel. The v2 factory (app 3550011936) currently holds 4,126 active listings with 3,650 per-asset state boxes; the v1 factory still carries 4,470 listings, with no forced migration — the app routes each buy, cancel, and reprice to whichever contract owns the listing, and new listings shift to v2 by default as the rollout reaches users. Both factories publish live balance invariants on a public contracts page, so the escrow math can be checked by anyone.

The suite around the new contract

V2 sits inside a broader, non-custodial product line: no accounts, no custody, everything settled between wallets by Algorand smart contracts.

Feature	How it works	Real-World Implication
Deals	Atomic peer-to-peer swaps; up to five assets plus ALGO per side, locked in escrow until accepted or cancelled	Neither side can send assets without receiving what was promised, in the same transaction
Offers	Standing bids on unlisted NFTs at collection, trait, or asset level	Sellers see demand before they decide to list
P2P lending	Collection-wide loan offers; a borrower's NFT locks in a dedicated on-chain account until repayment	Borrowers get instant ALGO; lenders can claim the NFT on default
Token swaps	Routed through the Haystack aggregator across Tinyman v2, Pact, Folks, Algofi, Algomint and TAlgo at a flat 1% fee (0.75% Haystack, 0.25% downbad), settling atomically in one transaction group	One router's combined liquidity at the same fee Haystack charges on its own site
Featured carousel	Daily bid-weighted lottery for up to four of six homepage slots; losing draws cost nothing	Smaller projects can buy front-page odds proportional to their bid

Around a swap sit only Algorand network costs: three to six transactions at the standard 0.001 ALGO each — usually well under 0.01 ALGO total — plus a refundable 0.1 ALGO minimum-balance reservation when opting into an asset you don't yet hold.

Two systems deserve more than a table row. Lending works on flat interest, so '10% for 30 days' means the borrower repays 110 percent of principal whether on day one or day thirty. An offer is rendered in the docs as 'I'll lend X ALGO against any NFT in this collection, for D days, at R% interest.' Borrowers who miss the deadline lose the collateral NFT — the downside the lender priced in when choosing the collection. The marketplace takes 10 percent of the interest only, never the principal and never on a default, split between the venue where the offer was created and the one where the loan was taken. Offers are pinned to a snapshot of the collection taken at creation, so an NFT minted after an offer cannot be borrowed against it — protection against a compromised creator wallet minting fake collateral.

The featured carousel treats front-page placement as a lottery rather than an auction: 'Slots are not sold to the highest bidder.' A project's daily bid buys proportional odds, so 10 ALGO against a 20 ALGO pool is roughly a coin flip for each sellable slot. The draw is seeded by the Algorand block seed of the first round after midnight UTC — a number set by the chain before anyone can influence it — and the draw history publishes the underlying round for each day so anyone can replay the weighting. Credits are spent only on days a project actually appears, and retried claims cannot double-charge, because each payment is credited exactly once, keyed to its transaction id.

No accounts, no cookies, no promises

Downbad's privacy policy is as short as its ambitions: 'there are no accounts, no sign-ups, and no cookies.' There is no user database, nothing to request a copy of or to delete; the browser's local storage holds only interface preferences and the last connected wallet. Analytics come from Vercel Web Analytics, which counts aggregate page views without tracking individuals. The only trace left behind is a wallet address — already public Algorand data — and standard server access logs kept for debugging and abuse prevention.

The terms are equally blunt about fragility. The site may 'change, break, or shut down at any time without notice,' and downbad takes no responsibility for lost assets, contract exploits, or user error. The design compensates: because the contracts are on-chain and some are shared across marketplaces, listings and positions remain accessible through other interfaces even if the site disappears. The same composability that lets a v2 listing sell from another venue's UI is what guarantees the market can outlive the front end.

Where the floor stands

The activity to back that architecture is modest but real. BLOPS, the PFP collection launched in January 2024, shows a floor of 190 ALGO — about $15.65 with ALGO near $0.082 — easing from the 200 ALGO it held in late July; live listings run from roughly 190 to 350 ALGO, all carrying the 5 percent royalty. Auctions have been clearing through early August, headlined by a Thiccling #309 that went for 400 ALGO after nine bids, alongside a long tail of character NFTs changing hands at 4-22 ALGO. The daily featured draws have been pulling in a dozen or so collections a day, each bidding 1-4 ALGO for carousel odds.

In July, the [ASA](/glossary/algorand-standard-asset "A built-in mechanism that allows anyone to create and issue new tokens (like stablecoins, utility tokens, or NFTs) directly on Algorand's base layer, ") Stats engine announced it had 'officially deployed the Downbad NFT market' into its analytics — recognition at the data-infrastructure layer. For a self-described hobby project, the summer's work has been about making itself replaceable rather than entrenched: royalties move to creator control, listings become sellable from any interface, and the contracts keep trading regardless. Downbad is the venue still rebuilding while the lights stay on.

Source

Source: https://www.downbad.farm/collection/blops