Ashtavakra Gita · Verse 6.3 · Janaka speaks

That I am like mother-of-pearl; and the world-projection is like silver. This is Knowledge. So it has neither to be renounced nor accepted nor destroyed.
अहं स शुक्तिसङ्काशो रूप्यवद् विश्वकल्पना ।इति ज्ञानं तथैतस्य न त्यागो न ग्रहो लयः ॥ ६-३॥
ahaṃ sa śukti-saṅkāśo rūpyavad viśva-kalpanā |iti jñānaṃ tathaaitasya na tyāgo na graho layaḥ || 6-3 ||

Word by word

अहम्

aham

I

pronoun, nominative singular, first person

सः

saḥ

that, indeed

demonstrative pronoun, masculine, nominative singular

शुक्तिसङ्काशः

śukti-saṅkāśaḥ

resembling mother-of-pearl

compound noun, masculine, nominative singular (śukti = oyster/pearl-shell + saṅkāśa = resembling, having the appearance of)

The stock Advaita adhyāsa (superimposition) analogy: a piece of mother-of-pearl (śukti) is mistaken for silver (rūpya) in poor light. The Self is the true substratum; the world is a misperception projected upon it.

रूप्यवत्

rūpyavat

like silver

indeclinable, comparative particle (rūpya = silver + vat)

The silver-illusion in the oyster-shell analogy represents māyā — the apparent reality of the world that dissolves upon correct non-dual knowledge. The reality of the silver is the pearl-oyster; the reality of the universe is the Self alone.

विश्वकल्पना

viśva-kalpanā

world-projection, imagined universe

compound noun, feminine, nominative singular (viśva = universe + kalpanā = imagination, mental projection)

Kalpanā signals that the world is a conceptual superimposition, a construction of mind, having no independent reality apart from the Self.

इति

iti

thus, this is

indeclinable, quotation particle

ज्ञानम्

jñānam

knowledge, gnosis

noun, neuter, nominative singular

तथा

tathā

so, therefore

indeclinable adverb

एतस्य

etasya

of this

demonstrative pronoun, genitive singular

na

not

indeclinable, negative particle

त्यागः

tyāgaḥ

renunciation

noun, masculine, nominative singular

ग्रहः

grahaḥ

acceptance

noun, masculine, nominative singular

लयः

layaḥ

dissolution

noun, masculine, nominative singular