Illustrative Kitty #1. The first auction has not started. The wallet structure and figures on this page demonstrate how a settled kitty will work.

First auction artworkKitty #1
KITTY #001
Art that carries a wallet.
The token is not a picture beside an account. It is the key to the account, and the account carries its assets wherever the kitty goes.
- 01
Kitty is the key
Whoever holds the NFT controls its account.
- 02
Wallet is bound
The ERC-6551 account moves with every sale.
- 03
Punch routes backing
ETH, PUNCH20, KLP, and KUSD stay inside.
Illustrative wallet allocation
1.24 ETH
Example values only. Kitty #1 has not auctioned.
- Reserve WETH0.48 WETH
- KLP0.28 WETH
- KUSD0.16 WETH
- Punch Perps / dKLP0.08 WETH
- PUNCH2012,400 PUNCH20
The PUNCH20 segment is shown at an illustrative 0.24 ETH-equivalent share; its token amount is listed above.
After PUNCH launches, bound PUNCH20 converts 20:1 and stakes inside the kitty wallet automatically.