This FAQ consolidates the most common questions about the JPG Store shutdown process. For a full overview of phases and timelines, see:
➡️ JPG Store Shutdown: Overview and Timeline
JPG Store operates on the Cardano blockchain, which means smart contracts and on-chain transactions govern listings, offers, and loans.
General Shutdown Questions
Why is JPG Store shutting down?
JPG Store is winding down operations as part of a structured platform closure as it is no longer sustainable to operate. The shutdown is being handled in a phased stage to ensure users have sufficient time to remove assets from smart contracts.
What do I need to do?
You only need to take action if you have:
Active listings
Pending offers
Active loans
If your NFTs are not listed and you have no active offers or loans, your assets are already in your wallet and no action is required.
Can I still buy NFTs during Restriction Mode?
Yes. During Restriction Mode, you can still:
- Buy existing listings
- Accept existing offers
- Accept existing collection offers
However, you cannot create new listings, make new offers, or start new loans.
What happens if I do nothing?
If you leave assets in smart contracts past the final shutdown date:
The website interface may no longer be available
Alternative methods may be required to interact with assets
We strongly recommend cancelling listings, offers, and resolving loans before the deadline.
Offers FAQ
Does cancelling an offer cost ADA?
Yes. Cancelling an offer requires a blockchain transaction, so a small network fee applies.
When does my ADA return?
Once the cancellation transaction confirms on-chain, your locked ADA becomes spendable again in your wallet.
Can I cancel at any time?
Yes, as long as the offer has not already been accepted or executed.
What happens if my offer is accepted before I cancel?
If the seller accepts your offer before your cancellation transaction confirms:
The NFT purchase proceeds
The ADA is transferred according to the contract
The offer cannot be reversed
NFT Listings FAQ
Does cancelling cost ADA?
Yes. Cancelling a listing requires a blockchain transaction and a small network fee.
Can I cancel my listing at any time?
Yes, provided the NFT has not already been sold and the listing is still active.
How long does cancellation take?
The cancellation completes once the transaction confirms on-chain. This typically takes a few minutes, depending on network conditions.
What happens to my NFT when I delist it?
The listing is removed and the NFT returns to your wallet’s direct control.
Lending FAQ (For Lenders)
Can I still fund new loans?
No. New lending activity is disabled once Restriction Mode begins.
What happens if the borrower repays?
You automatically receive:
Your principal
The agreed interest
Funds are returned directly to your wallet once the repayment transaction confirms.
What happens if the borrower does not repay?
After the loan expiry:
You can claim the NFT collateral
The claim is executed via smart contract
You must connect your wallet and submit the claim transaction
Will interest still be paid during shutdown?
Yes. Loan contracts continue to operate exactly as agreed until expiry.
What if I forget to claim collateral after expiry?
You should claim as soon as possible during Restriction Mode. After full shutdown, web interface tools may no longer be available.
Borrowing FAQ (For Borrowers)
Can I still repay during shutdown?
Yes. Repayment remains fully functional until your loan expires.
What if I miss the repayment deadline?
If the loan expires:
The lender gains the right to claim your NFT
Liquidation cannot be reversed
Smart contracts enforce the timeline automatically
Will JPG Store extend my loan due to shutdown?
No. Loan terms cannot be altered once created.
Do I need to do anything if I already repaid?
No further action is required once the repayment transaction confirms on-chain.
Fees and Transactions
Will there be fees during the shutdown period?
Yes. Any blockchain transaction, including:
Cancelling listings
Cancelling offers
Repaying loans
Claiming collateral
requires a standard Cardano network fee. JPG Store does not charge any additional shutdown-specific fees for removing assets from smart contracts.
Which assets are in smart contracts?
Assets/ADA may be in smart contracts if they are:
Actively listed for sale
Tied to a pending offer
Locked as loan collateral
These require manual cancellation or repayment.
