Picardy Protocol

Decentralized Economy for Creators.

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Inspiration

Presently, within the independent creator economy, there is little or no knowledge as to how to earn and still fully own your masters and rights. Alongside creators, fans also find it difficult to be involved in the creator economy. These include:

• Creators inability to personally raise funds and own totally rights.

• Creators also find it difficult to get funding while still owning your masters and rights.

• Users/Fans have no way to earn from creators they love unlike other interests.

• Users have difficulty in supporting and connecting to creators.

• Creators inability to keep track of their creator royalties and incomes.

Thus to solve these issues, we built a protocol with a modular framework, which contains functions and features, that are governed by smart contracts.

Picardy Protocol aims to enable creators transition smoothly into web3, through mechanisms created and run by the smart contract.

We chose EVMOS to build because, it supports our architecture of gasless transactions (using our relayer) in minting of creator profiles.

What it does

Picardy Protocol is a creator & user owned web3 native protocol, built with the main aim of implementing a smooth transition for creators into web3, by creating an ecosystem for them to distribute, earn and raise funds through various mechanisms governed by smart contracts and the community (DAO).

Built as a modular framework, Picardy Protocol, highly supports the plug in and play options, for developers/platforms to pick features from the functions in the Picardy Hub and build with.

The Picardy Hub connects all the Factory contracts within the protocol

Main functions

Creators can:

Mint Creator Profile

The Picardy Protocol allows artists to mint their (uri) profiles as NFTs which is the backbone of our distribution platform, as it holds all the activities of each creator (somewhat like a database that stores songs, or any supported media file) and is the key to getting the full features of the protocol.

Decentralized Cataloguing

Details of each creator, including projects or photos, are stored off-chain on IPFS, in order to keep track of the project (masters).

Creator Token Factory

Picardy Protocol allows creation of creator tokens for creators, so their audience, fans and community, can buy and support while getting IRL utilities.

Contract Address:

artisteTokenFactory: 0x8541f66bc9D092c4B3008078c13805edFd41ba05

Royalty sales Factory

The protocol allows the artists and creators to create royalty tokens (ERC721 and ERC 20 standards respectively), which they can sell a decided percentage of their royalties, of their projects. This makes it possible for fans to earn from holding a percentage of royalties from their favorite person. Using Chainlink oracle, we compute royalty data off-chain and send it to the blockchain to get the back creators royalty amount.

Contract Addresses:

nftRoyaltySaleFactory: 0xbCbfcDe1A497015366740AfeC5984361377fE8EA

tokenRoyaltySaleFactory: 0x362d09DE45dBD0Bb88f10d2C61AAB683ace5d303

Crowdfunding Factory is also a function of the Protocol that allows creators to create crowdfund contracts to fund projects or events.

Built-in Governance / DAO

The protocol issues the $3rd token to the community as a form of identification. The token serves as a form of verification, in cases you just want members to participate in voting processes and decision making. The DAO (3rd DAO), governs the features implemented within the protocol.

Picardy Governance Contract Deployed at: 0x7b48B604b1A6848cD875f6db0A0eA473Ea50E9C0

Vault

The Picardy Protocol wouldn’t be complete without the ability to create Vaults which are governed by the DAO (the community). Proposals are submitted to the DAO to establish the purpose of vault to be created. After the community has decided on the vault, the protocol creates the Vault, while the DAO decides on the potential good investments opportunities in creators. The various vaults created are also to be invested in DeFi protocols, invested in independent artists who have been voted by the community and in conjunction with primary music distribution platforms to create distribution deals.

Contract Address:

Picardy Vault Factory: 0x8c8117C6d33C4BAb645856Dff4EFc2412c5A4AE3

Users can:

Follow creators: Users who follow any creator are issued a Follow NFT, with unique IRL (in real life) utilities or can serve as subscription ID for users.

Follow Factory: 0x90DCF307D123C546eEEc7e9f6ffC301750B39A86

Earn: The protocol issued different ways for non creators to earn from creators through buying their royalties, being a vault investor, and buying artist tokens.

Participate: The protocol gives users the power to decide how the protocol works, when they become part of the built-in governance (3rd DAO), using our governance token, $3rd token.

How we built it

We built Picardy Protocol using

  • solidity to expand the usage of smart contracts to communicate between themselves.
  • NFTs implemented for royalties and creator profiles
  • IPFS for data storage

Challenges we ran into

We ran into challenges while trying to ease and understand communication between smart contracts.

Accomplishments that we're proud of

• Gaining in-depth knowledge on calling smart contracts and blockchain as a whole. • Building a protocol that can be implemented in various platforms. • Successfully finding ways to help creators own and earn with web3 using Picardy Protocol. • Creator onboarding has been made easier with gasless transactions.

What we learned

Building the protocol exposed us to a lot of learning, which included: • How to make creation of creator profiles gasless, while also embedding IPFS for data storage. • How to implement the governance structure within the protocol. • General knowledge of libraries and APIs in various languages.

What's next for Picardy Protocol

We're looking to integrate the protocol in our music distribution service. We are also looking to update functions of the protocol, like the Mint Factory, to make the uri updatable using ERC721 updatable extension from IPFS.

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