Glossary

Every term you will meet in this guide and in the Magic Internet Finance app, in alphabetical order, one or two sentences each. Where a term has a number attached, the number is either a fixed rule of the protocol or a proposed launch default, and it is labeled as such; nothing here is a forecast, a rate of return, or a promise about how much Mana will exist. Rewards depend on actual activity: conjure fees come from new conjures, trading fees come from trading, and if activity stops, so does Mana.

How to read this page#

Terms are in bold. When a definition points to another entry, follow the link within this page. Three labels appear next to numbers:

Numbers at a glance#

A – B#

Active Wizard — A Wizard that has been conjured and not yet dispelled. Each active Wizard holds exactly one share of Mana, and the protocol allows at most 10,000 at once because that is all the collateral the supply can back.

Admin — The operational authority that can adjust bounded parameters, pause parts of the protocol, and withdraw the protocol share from the treasury. Held by a multisig on mainnet; it cannot change principal, decimals, the mint, or the collection, and it cannot spend user funds.

Advisory royalty — See Royalty.

Archive — The part of the app that lists dispelled Wizards, built from their tombstones. An archived Wizard keeps its final portrait and closing counters; it is not purchasable and does not earn.

Art seed — A 32-byte hash fixed at conjure from on-chain inputs (a per-deployment id, the serial, the catalog hash, and the catalog index). It picks a Wizard's secondary looks: palette, background, small accessory, and a bounded bit of hand-drawn wobble. It never changes and never affects rewards.

Base units — The smallest indivisible amount of a token. MIFI has 6 decimals, so 1 MIFI is 1,000,000 base units and one Wizard's principal is 100,000,000,000 base units. The program only counts base units; the app shows human-readable amounts.

Bootstrap reserve — Mana that arrived while zero Wizards were active. It sits in the reserve, is shown on the Mana page, and is allocated to nobody; the first Wizard does not inherit it, and any future policy for it must be explicit and visible.

Buy MIFI — The Home action that sends you to the current trading venue: the DBC during launch, the DAMM v2 pool after migration. MIFI is an ordinary SPL token with no transfer tax, no rebasing, and no hidden mint.

C#

Catalog — A frozen, versioned manifest of every valid structural Wizard identity, with its exact count and compatibility rules. New conjures draw from the active catalog; a Wizard keeps its catalog and renderer version forever, so a later catalog can never redraw it.

Catalog index — A Wizard's position in its catalog's list of valid identities, chosen by a public permutation of the catalog's issuance counter. It is predictable rather than random, and rarity carries no economic weight.

Change spell — An owner action that settles the Wizard, switches its spell, and bumps the strategy nonce. It affects pending and future SOL only; anything the Wizard already bought stays in the vault.

Checkpoint — The value of the entitlement index at a Wizard's most recent settlement. The gap between the current index and the checkpoint (plus the carried fraction) is what the Wizard is owed.

Claimable on venue — Trading fees that Meteora has credited to the protocol's positions but that MIFI has not yet claimed and ingested. The app shows this separately from Mana received, because under receipt-time entitlement it belongs to nobody yet.

Collection — The Internet Wizards collection on Metaplex Core. Every Wizard belongs to it, and its plugins (royalties and the burn guard) apply to every Wizard. The Collection page in the app browses active Wizards; dispelled ones live in the Archive.

Conjure — Locking 100,000 MIFI to mint a new Wizard. One all-or-nothing transaction pays the conjure fee, locks principal, reserves a serial and identity, creates the NFT, and activates one share at the current index.

Conjure fee — The SOL paid at conjure, separate from principal and rent. Proposed default: 0.05 SOL, split 80% to Mana and 20% to the protocol. It is nonrefundable and goes to the Wizards that already existed, never to the Wizard being conjured.

Conjuring… placeholder — The branded image shown while a freshly conjured Wizard's portrait is still rendering. The Wizard's identity is already fixed and its financial position is live; only the picture is late.

D#

DAMM v2 — Meteora's Dynamic AMM v2, the pool where MIFI/SOL trades after the bonding curve migrates. Its LP fee is 3%, collected in SOL, and fees earned by the protocol's locked liquidity position become Mana once claimed and ingested.

DBC — Meteora's Dynamic Bonding Curve, MIFI's launch venue. Buyers move along a price curve until the curve completes, after which liquidity migrates to the DAMM v2 pool. Trading fees the protocol earns during this phase are routed the same way as pool fees.

Devnet — Solana's public test network. When the app is connected to it, a DEVNET banner is shown and nothing on screen has real value.

Dispel — Permanently retiring a Wizard. It settles the Wizard, returns exactly its principal plus any extra MIFI, tokenized BTC, pending and retained SOL, and recoverable rent, removes its share, burns the NFT, and writes a tombstone. Proposed default fee: 0 SOL; the serial and identity are never minted again.

Dust — Sub-lamport remainders left over when Mana is divided among Wizards, plus the fraction a Wizard leaves behind when it dispels. Dust is tracked exactly, stays backed in the reserve, and is claimable by nobody (not even the pigeon).

E – F#

Entitlement index — The protocol's running total of SOL per share since launch, written I and kept in fixed-point units scaled by 10^18. Every Mana receipt raises it by the receipt divided by the number of active Wizards; a Wizard's due is the index minus its checkpoint.

Estimate — Any USD or NAV figure in the app. Estimates use reference prices at a shown timestamp, can be marked stale, and are never a redemption quote or an executable sale price.

Execution (Process spell) — Applying a Wizard's spell to its pending SOL: swap it for tokenized BTC (Orange), swap it for MIFI (Infinity), or relabel it as retained (Sol). The keeper or the owner can trigger it, within limits enforced by the program.

Exiting — A reserved Wizard status for a two-step dispel, used only if a single atomic transaction cannot fit. In that mode the Wizard cannot transfer, earn, or execute, and the payout can only go to the recipient fixed at the start.

Extra MIFI — MIFI a Wizard bought through the Infinity Spell, tracked separately from principal. It is returned on dispel and never increases the Wizard's share.

Familiar — The Wizard's optional sidekick, such as a frog, cat, pigeon, snail, or paper ghost. It is part of structural identity, and "none" is a legitimate familiar.

Fee inbox — The wrapped-SOL token account where Meteora fee claims land before they are ingested. Emptying it is how a venue fee becomes Mana.

Finality — Solana's strongest confirmation level. The app shows confirmed events quickly with a status label and reconciles at finality; actions gated on ownership re-check the chain at transaction time rather than trusting a cached row.

Fraction — The sub-lamport part of a Wizard's entitlement carried from one settlement to the next so rounding never loses anything. It travels with the Wizard on transfer and becomes dust on dispel.

G – I#

Genesis render — The immutable first portrait of a Wizard, at Stage I with its conjure-time spell. It is kept forever alongside the latest render.

Hero Wizard — The single reference character the whole art style is measured against. It appears on the Home page and is not a mintable Wizard.

Identity — Also called structural identity: the canonical set of a Wizard's core traits: pose, robe, hat, face, beard, held prop, and familiar. Its hash is reserved on-chain forever, so no two Wizards in history share one, and dispel does not release it.

Identity hash — The 32-byte fingerprint of a Wizard's structural identity, stored on the Wizard and in a permanent reservation account. See Identity.

Independent review — A third-party security review of the MIFI program, listed on the pre-launch checklist. Passing tests and generated code are not an audit, and this guide does not claim that one has been completed.

Indexer — The off-chain service that reads program events and builds histories, ownership snapshots, and protocol statistics for the app. The chain is always authoritative; the indexer never grants custody or rights.

Infinity Spell — The spell that market-buys MIFI with a Wizard's pending SOL and holds it as extra MIFI. "Compounding" here means accumulating tokens, not a bigger share of revenue. Blue and violet looping marks and an ∞ glyph on the orb.

Ingest — Recognizing revenue that has arrived (fee inbox, royalty inbox, direct deposits) exactly once, splitting it between Mana and the protocol, and adding it to the entitlement index. Anyone can call it, and conjure and dispel do it first automatically.

Internet Wizards — The name of the NFT collection, and the friendly plural for Wizards in general.

J – L#

Keeper — The protocol's operations bot. It claims venue fees, ingests revenue, settles Wizards, executes spells, and queues renders, but it has no withdrawal authority, cannot touch principal, and pays its own network fees from the protocol's operating budget.

Lamport — One billionth of a SOL, and the unit the program counts SOL in.

Liabilities — The total the reserve owes to all active Wizards, tracked exactly so the reserve is always at least liabilities plus dust plus bootstrap reserve. The Mana page shows this alongside the reserve balance.

Lifetime allocated Mana — Also shown as lifetime allocated SOL: the total SOL ever allocated to a Wizard before its spell ran, including unsettled entitlement when displayed. It drives stage and does not depend on which spell was chosen.

LP fee — The percentage a liquidity pool charges on each swap. MIFI's DAMM v2 pool uses 3%, paid in SOL; only fees earned by documented protocol-owned positions count as MIFI revenue, and only once claimed and ingested.

M#

Magic Internet Finance (MIFI) — The project and the ticker. It is a new project inspired by the internet wizard aesthetic and is not affiliated with earlier projects using that imagery, with any Bitcoin organization, or with any exchange.

Mainnet — Solana's live network, where MIFI and Wizards carry real value.

Mana — Protocol revenue that belongs to Wizards, always received as SOL. It comes from conjure fees, claimed trading fees, collected royalties, and any direct deposits to the reserve; the app shows each source separately so the actual mix is visible.

Mana Pool — The Mana page and the accounting behind it: the reserve, liabilities, dust, bootstrap reserve, and a history of receipts and processing. It is where SOL waits between arriving and reaching a Wizard.

Marketplace — Any Metaplex Core-compatible marketplace where a Wizard can be listed. A listed Wizard's vault can change before a sale (its owner may execute or change spell), so the app refreshes balances and ownership before any purchase-related action.

Metadata URI — The stable link each Wizard NFT points to for its name, image, traits, catalog version, spell, and stage. Financial values never live in metadata; they come from the chain.

Metaplex Core — The Solana NFT standard Wizards use: a single account per asset with attachable plugins. MIFI uses its Royalties plugin and an Oracle plugin on the collection.

My Wizards — The page listing the Wizards in your connected wallet with portrait, serial, spell, exact balances, pending Mana, and estimated NAV.

N – O#

NAV (estimated) — Estimated net asset value of a Wizard: (principal MIFI + extra MIFI) × MIFI reference price, plus tokenized BTC balance × its reference price, plus (retained + pending + unsettled SOL) × SOL reference price. Rent is excluded, the label is always "estimate", and a Wizard's market price can differ from it in either direction.

Oracle plugin (burn guard) — A Metaplex Core external plugin on the collection that lets the MIFI program approve or reject every burn. Each Wizard's state account answers "rejected" except during its own dispel, so a Wizard cannot be burned with its vault still inside; transfers are not affected.

Orange Spell — The spell that swaps pending SOL for the configured tokenized BTC asset (shown in the app with its issuer, mint, and decimals) and holds it in the Wizard's vault. Orange orb and Bitcoin motifs. This is tokenized BTC on Solana, not native bitcoin in a Bitcoin wallet.

Orb — The glowing thing the Wizard holds. It is the main place a spell shows in the artwork; the face, hat, beard, and robe never change with spell.

Owner — Whoever holds the Wizard NFT right now according to the chain. Only the owner can execute owner actions, and the original conjurer keeps no special powers after a sale.

P#

Paused — An emergency setting the admin can apply to conjures, executions, or ingest. Settlement and dispel can never be paused.

PDA (Program Derived Address) — An address derived from the MIFI program that only the program can sign for. Wizard vaults, the reserve, and the treasury are PDAs, which is how "the NFT controls the vault" without the NFT ever signing anything.

Pending SOL — Whole lamports that have been settled to a Wizard and are waiting for its spell. It stays visible until processed, can be processed by the owner or the keeper, and is returned in full on dispel.

Permutation (issuance) — The public formula (a × j + b) mod M that maps a catalog's issuance counter j to a catalog index. Because a and M share no factors, no index repeats within a catalog; it is deliberately predictable and is never used for anything financial.

Pose family — One of the base body drawings (casting, leaning, sitting, reading, presenting, windblown) with its own anchors and layer order. Every other part is drawn to fit a family.

Price impact — How much a swap moves the pool's price. Infinity executions are rejected if their impact exceeds a configured bound.

Principal — The 100,000 MIFI locked in a Wizard. It is never spent on rewards, fees, swaps, or operations, and it is returned exactly on dispel.

Profile — A Wizard's public page: portrait, immutable traits, spell, stage, conjurer, owner, exact balances, pending and unsettled Mana, and history. Owner actions live here and re-check ownership at signing time.

Protocol share — The portion of conjure fees and trading fees sent to the treasury for operations. Proposed default: 20%.

Prototype art — Programmer-drawn placeholder assets used to prove the renderer before artist-approved assets exist. The app labels it PROTOTYPE ART wherever it appears.

Q – R#

Quote — The itemized preview shown before conjure or dispel: exact principal, the fee, live rent, network cost, and what comes back. Rent figures are read from the chain, not hard-coded.

Receipt-time entitlement — Mana is allocated to the Wizards that are active at the moment MIFI actually receives it, not at the moment a trade happened on the venue. Fees still sitting on the venue belong to nobody yet, which is why the keeper claims often.

Reference price — An independent price the program checks a swap against: on-chain oracle feeds (SOL/USD and BTC/USD) for Orange, and the pool's spot price for Infinity. Also the basis for every USD estimate in the app.

Rent — SOL deposited to keep Solana accounts alive. Most of a Wizard's rent is refunded on dispel; the permanent identity reservation is not, and the quote says so.

Reserve — The PDA holding all Mana SOL that has not yet been settled into a Wizard's vault: liabilities, dust, and the bootstrap reserve. The Mana page shows its balance against what it owes.

Retained SOL — Pending SOL that a Sol Spell Wizard has processed. Same account, same owner, new label.

Royalty (advisory) — A proposed 5% on marketplace sales, 100% to Mana when collected. "Advisory" means the collection's rule set does not block transfers, so a marketplace may honor it or not; the app never assumes every sale pays.

S#

Serial — A Wizard's number (as in "Wizard #1842"), assigned at conjure. Serials only go up and are never reused, even after dispel.

Settle (settlement) — Computing what a Wizard is owed since its checkpoint, moving those whole lamports from the reserve into its pending SOL, and carrying the fraction. Anyone can settle any Wizard, because the money can only land in that Wizard's vault.

Share — One active Wizard equals one share of Mana. Traits, stage, age, spell, and extra MIFI change nothing about it.

Slippage — The difference between a swap's quoted and executed output. Every execution carries a minimum output that must also clear the program's own reference price floor, so the keeper cannot choose a near-zero minimum.

Sol Spell — The spell that keeps earnings as SOL in the Wizard's vault. Restrained violet and green accents on the orb.

Spell — A Wizard's chosen treatment for its Mana: Orange, Sol, or Infinity. All three earn the same gross SOL for the same period; realized results differ with prices, slippage, and costs, and no spell has a multiplier.

Spell Round — A keeper batch of spell executions across many Wizards. It is a processing label in the app, not the moment you become entitled to money that has already arrived.

Stage — Cosmetic prestige from I to V, earned by age and lifetime allocated Mana. It never decreases, never changes a Wizard's share, and uses allocated SOL before spell execution so no spell is privileged.

These thresholds are proposed defaults and say nothing about how much Mana any Wizard will receive.

Strategy nonce — A counter on each Wizard that increases every time its spell changes. Queued executions carry the nonce they were built with, and a stale nonce fails, so an old job cannot run the wrong spell.

T – Z#

Tokenized BTC — A Solana token that represents bitcoin held by an issuer or bridge. The Orange Spell buys the configured tokenized BTC asset (shown in the app with its issuer, mint, and decimals); it is not native bitcoin, and its custody model belongs to its issuer.

Tombstone — The compact permanent record written when a Wizard is dispelled: serial, asset address, original conjurer, creation and dispel times, art identity, and closing counters. It powers the Archive.

Traits — Structural traits (pose, robe, hat, face, beard, prop, familiar) define identity; secondary traits (palette, background, accessory) come from the art seed; overlays (spell, stage) reflect current state. Only structural traits are checked for uniqueness.

Treasury — The PDA that holds the protocol share, withdrawn by the admin to fund operations such as keeper fees. It never holds user entitlements or principal.

Unsettled SOL (entitlement) — Mana a Wizard is owed but has not yet settled: index minus checkpoint, plus fraction. It still sits in the reserve, is included in the NAV estimate, and moves with the NFT if it is transferred.

Upgrade authority — The key that can deploy new code for the MIFI program. It is held by a multisig, disclosed in the authorities inventory, and is the one power that bounded parameters cannot constrain, which is why it is listed under risks.

Vault — The set of accounts a Wizard's authority controls: a MIFI token account (principal plus extra MIFI), a tokenized BTC token account when needed, and a SOL balance (pending plus retained). The whole vault moves with the NFT.

Wizard — One Internet Wizard NFT together with its vault and its single share of Mana. Transferable, dispellable, and never quite symmetrical.

Wizard authority — The per-Wizard PDA that owns its vault accounts. The MIFI program signs for it only on behalf of the NFT's current owner.

WSOL — Wrapped SOL, which is SOL held as an SPL token so pools and fee claims can handle it. The program wraps and unwraps it only for the duration of a swap.

Zero-Wizard policy — What happens to Mana when no Wizards are active: it goes to the bootstrap reserve and stays unallocated.

Related pages#