Creation of a vault for the iJPEG NFTs

The iJPEG Index NFTs have been purchased. Now is the time to put them to work earning yield on the JPEGd platform.

Proposal: Place the NFTs owned by the iJPEG holders into a vault that cannot be liquidated, with the JPEGd multisig controlling the NFTs and vault. pETH borrowed from this vault will be deposited to The Citadel, and yield from this vault will be claimable by holders of iJPEG in propoportion to their holdings.

Details:

1.) One or more special vaults will hold all iJPEG NFTs. These vaults cannot be liquidated except as described below.

2.) ETH remaining in the iJPEG treasury will be used to purchase $JPEG and lock it to increase LTV for these vaults, subject to normal %JPEG locking requirements on JPEGd.

3.) An appropriate LTV rate will be decided and maintained by the JPEG multisig, and pETH will be borrowed from the vault(s).

4.) JPEGd will create a deposit/withdraw/claim function on the JPEGd platform. Only iJPEG deposited to this contract can claim yield from the iJPEG NFTs.

5.) The JPEG multisig can liquidate the vault(s) if necessary to protect iJPEG holders and the JPEGd platform. In case of liquidation, any remaining proceeds after debt repayment will be distributed pro rata to iJPEG holders.