This project was initiated when the team thought of how to earn while providing quality internet to emerging markets at a very affordable price. As we were finalizing the mining prototype, we quickly realized that we can create a DeFi Protocol around this goal in order to properly fund it. Not only can we create a DeFi protocol, we could also implement a market place where individuals can take control of their acquired browsing data. That is when we learned about Oasis and their attributes. We wanted to take advantage of new opportunities within an emerging and promising network that we could grow with in the long run. After that we made a decision to deploy the project on the Oasis Network, being that their project goals align ideally with our own.
What it does
DeFi: UZO is a DeFi protocol with a game theory. The theory surrounds the main character UZO. Participants can use UZO coins to buy the UZO NFTs which is also a staking mechanism. These NFT’s will be holding a key chain signifying The level of rewards the owner is in within each tier. These NFT’s will be available to be minted semi annually. Within the minting time Frame, participants will be enabled to lease/rent out their reward earning NFTs for a specific amount of time to others in the marketplace/metaverse. This will allow the renter to gain the rewards within that time frame.
GameFi: Each participants will get a chance to acquire “keys” as they complete different tasks such as staking for x amount of time or renting for an x amount of time etc… These keys determines the level of rewards that the participant is gaining within the tier. Also the initial rewards for each tier will decrease as time goes and more NFTs are minted. This will ensure the rarity of the previous collections.These rewards will be paid out in UZO coins in order to incentives the coin’s utility. Rewards: The rewards are derived from marketplace transaction fees, mining protocols and Network Nodes.
How we built it
We Used the openzeppelin contract method to formulate the base functions of the contracts. Then we managed our time collectively and wisely in order to coordinate work space hours.
Challenges we ran into
The challenges we initially ran into were mainly time management and deploying the contracts on the emerald testnet. However, with persistence, we managed to overcome those obstacles.
Accomplishments that we're proud of
Having and beginning testing with our MVP.
What we learned
We learned that proper communication, time management, and drive/dedication towards a common goal goes a long way in success.
What's next for Gateway UZO
The next thing for the project is intensive testing, marketing, mainnet deployment, and strategic global partnerships.