DAO NFT Bank System

DAO NFT Bank System Multi-chain Infrastructure Service Protocol
Logic-diagram

Testnet Deployment Information

Network Name: Meter test Network RPC URL:https://rpctest.meter.io/ Facuet URL:http://faucet-warringstakes.meter.io/

Contract deployment address

ERC20FACTORY : 0x9905A916F0CEb2f9550eBC9DdC1FFf0A128A5245

RBBANKORCHESTRATOR : 0x2A35cD0099ed783c8674aEaa1977652D2dbCCe22

LOANMARKETORCHESTRATOR : 0xA16D7140E64561497c961243821F8332D57fC6Cc

RBTDEPOSITORCHESTRATOR : 0x63282d4A811133C35800bAaaEa1Ec74B25319973

TOKENEXCHANGEMARKETORCHESTRATOR : 0x37b17f58b07EeaE71F75F6936Bc81e7C5567f145

RBTDEPOSIT721 : 0xfA25b227beb041228F0E7C031A6E89AD71c9ba19

RBD : 0x5524B7AF5015a087f6291ad0420A8719450bc6CD

TOKENEXCHANGEMARKET : 0x178b9680F26403e3AD1742Ecb4501f8c872452A0

LOANMARKET : 0xFb7D79BBECdA39B23853423c40f01a7859bc6130

RAINBOWBANK : 0x9808E9EE96158F9555434ad4c458d65F8F9E231B

Inspiration

In all types of DAO organizations, the hedging management of governance Token is a vitally important job. How to guide the community members to hedge Tokens is a critical module in terms of the liquidity of the governance Token management. As many governance Tokens lack a hedging system, when the flow of Token becomes greater and greater, the actual value of Token will continue to decrease to lead to the final failure of the whole project. With this inspiration and to tackle the problem, we designed and developed a DAO NFT Bank System that can guide the community members to hedge Tokens. This is the first application scenario of the system.

DAO NFT Bank System has another application scenario that enables hedging when a new project initializes and the initial coins are distributed to all VC and seed users. In this way, we cam make it happen that the respective ERC20 Tokens can be deposited into our NFT Bank system with a relative hedging date and an NFT certificate. These NFT certificates are considered the initial investing proof. This can completely solve the pivotal hedging issue the initial investors have, which is also the second important application scenario of this Bank system.

What it does

DAO NFT Bank System is one of the DAO infrastructure products developed by the RainbowCity Foundation, providing the governance Token hedging banks and NFT motivation system for all of the DAO organizations. This system is designed to lock position of governance Token. NFTs can be rewarded based on the position locking timing and amount. Simply it means that one can deposit ERC20 governance tokens into the hedging bank to get the NFT certificate in the form of ERC721, which is categorized into financial NFT. The rewarded NFT certificates are the equivalent of ERC20 Token deposit receipts. In the future, the NFT deposit receipt holders can withdraw the relative ERC20 governance Tokens by the time of validity.

Meanwhile, in order to guarantee the liquidity of the deposited ERC20 governance Tokens, we developed an NFT mortgage and loan market and an NFT transfer market for NFT deposit receipts. The NFT mortgage and loan market can get loans from the market by pledging the NFT deposit receipts. The NFT certificates can be cashed in the NFT transfer market by transferring the ownership.

How we built it

⑴ Create an ERC Token using the ERC20 factory and set basic information such as Token name, circulation, logo, decimals etc.

⑵ Create a DAO NFT bank with bank's name, mortgaged governance Token address, time set-up of the mortgage and NFT's title.

⑶ NFT badge contains information as follows: NFT serial No., NFT initial creator, NFT current holder, NFT lock-position time, NFT whole governance badge name, NFT whole governance badge quantity, lock-position end time, lock-position remaining days, withdrawal button.

⑷ Pledge governance Tokens and create an NFT badge: choose deposit amount, choose deposit duration, complete NFT badge.

⑸ To get the liquidity during the mortgage period, we can pledge the NFT badges in the mortgage and loan market to get borrow certain amount of money.

⑹ Loaning orders contain information as follows: loan Token, loan amount, loan period, loan start time, estimated payment date, remaining days, loan rates, loan actual interests and payback.

⑺ To get the liquidity during mortgage, one can sell their NFT badges in the transfer market.

⑻ The transfer market orders contain information as below: order serial No., NFT serial No., NFT initial creator, NFT current holder, NFT set time, NFT expiry date, unlock remaining time, NFT transfer price, whole Token amount and transfer fees.

⑼ Anyone can buy the available NFTs through the transfer market and gain tokens included in this NFT. As soon as the hedging date expires, one can get withdraw the token from the bank with the NFT lock-position badge.

Optimization

(1) Bind RBD tokens to create your own decentralized NFT bank (2) NFT banks can stake user-created NFTs to generate NFT tokens (3) Added the function of creating an NFT trading market, which can freely trade the NFT generated through pledge in the market (4) Added ERC20 factory, if users do not have their own token in the bank, they can generate a new token through the factory (5) Added ERC721 factory, users can create erc721 products of their own market based on their own needs