How offers work

Offers let you bid on NFTs even when they aren’t listed for sale. You commit ALGO up front; if a holder accepts your offer, the NFT is delivered to you on-chain atomically — funds and asset swap in the same transaction group, no trust required.

Holders see incoming offers on their items and can accept the best one with a single click. There is no chat, no haggling — just standing bids.

The first time you make an offer, downbad creates a small, dedicated offer wallet for you on-chain. It is a tiny smart-contract account that you own and control via your connected Algorand wallet (Pera, Defly, Lute, etc.). It exists for two reasons:

• It holds the ALGO that backs your offers, separate from your main balance, so funds can’t be spent by accident while an offer is open.
• It is the address that receives any NFT you successfully buy via an accepted offer.

You can fund it (top up the ALGO available for offers), withdraw from it (any ALGO not currently backing an open offer), and ultimately delete it to recover its full balance back to your main wallet. Everything happens with on-chain transactions you sign yourself.

Each open offer locks two pools of ALGO inside your offer wallet:

• The offer amount — the price you’re bidding. If your offer is accepted this is paid to the seller (less royalties / platform fee).
• A small refundable deposit — discourages spam offers that no one could ever fulfil. You get this back in full when your offer is cancelled or accepted.

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These limits are enforced by the on-chain contract and may change over time.

You can make three different shapes of offer:

The accept transaction is one atomic group on Algorand. In a single step:

1. The seller sends the NFT to your offer wallet.
2. Your offer wallet pays the seller (minus royalties + platform fee).
3. Royalties go to the collection’s configured royalty address.
4. The platform fee goes to downbad.
5. Your refundable deposit is queued to be returned to you.
6. The offer is removed so it can’t be accepted twice.

If any step fails the entire group reverts — you’re never left in a state where you’ve paid but haven’t received the NFT, or vice-versa.

Accepted NFTs land in your offer wallet, not your main wallet. Open the Offers tab on your profile and you’ll see them under Unclaimed NFTs. Hit Claim on each item to move it to your main address. Claiming also frees up the small ALGO that was reserved to hold the asset, returning it to your offer wallet’s available balance.

You can cancel any of your open offers at any time. Cancelling refunds both the offer amount and the refundable deposit back into your offer wallet immediately. From there you can leave them to back new offers or withdraw to your main wallet.

Offers also expire automatically after the period you set when creating them (subject to the platform maximum above). Expired offers can no longer be accepted; you can still cancel them to recover the deposit.

Each collection has an on-chain royalty rate set by its creator and a platform fee set by downbad. Both are taken from the offer amount when an offer is accepted — the buyer pays exactly what they bid; the seller receives the bid minus royalties and fees. You’ll always see the breakdown before confirming.

• Self-custody. Only your connected wallet can move funds out of your offer wallet or accept offers on your items.
• No double-spends. Each offer can be accepted at most once; the on-chain contract prevents two sellers from filling the same bid.
• Atomic settlement. Payment and NFT transfer happen in the same transaction group — they both succeed or both fail.
• Auditability. Your offer wallet is a regular Algorand account. Everything it does is publicly verifiable on-chain.

1. Connect your Algorand wallet.
2. Open a collection and hit Make Offer, or open a single NFT and offer on that asset.
3. Set your price and expiry. The first time, downbad will create your offer wallet and ask you to fund it.
4. Watch your offers from the Offers tab on your profile.