When I was in high-school I did not like school because there was no interesting subject that I had little interest in. I was about to drop until I watch money revealed. It talked about blockchain technology and how it was gonna revolutionize the work and I said I wanted to be part of that. I looked into crypocrurency for a while now, and I still feel that its not for me because it had no value to me. Until I started doing more research and coming across tokenomics. I found that since I had a little interest in economics I might give it a try. I attended George brown college for blockchain devekioment when I first discovered this event and what Ethereum was about. I hear about companies like Coinbase, 0x, Skale, and many more. I decided to participate as a hacker and expand my programming skills and do my best. My main goal was to really come out with an idea that I can get funded by sponsors to run a startup.
What it does
It is a tokenomics project that has a regenerating system. Instead of BOMB that would burn 1% our token burns one percent but instead of getting rid of it. It goes back into the system to be used again via referral link. T0 is the starting point of our economic system. The only way to claim the token is to get a referral link. This is a one time only claim per address. The user must first obtain a referral key from an existing user, enter the key on our Cre8 front-end, and receive a percentage of the remaining supply of tokens not currently in circulation. What makes this system unique and different from others is that we implemented a number of mechanisms designed to return tokens to the remaining supply, increasing the amount of tokens that a future claimer receives. One mechanism is when the token is spent a % is burned and goes back into the system to be claimed again. Tokens that can be directly crafted from Tier 0 tokens are called Tier 1's. Although we begin with a single Tier 0, there can be many Tier 1's and higher. Each of these higher Tier tokens also contain unique mechanisms for distribution, such as a time-gate which requires users to wait longer the fewer tokens remain to be crafted. There is much more expansions that will be coming and there is alot to do.
How we built it
We used an ERC20 smart contract using solidity. The ui was build in standard HTML5 and Css until it was converted to React. We used meta mask integration and 0X api for there online market place.
Challenges we ran into
The smart contracts when tested on remix had problems. React was challenging to get all the previous HTML5 and CSS to interact with the smart contract functionalities and the 0X market place.
Accomplishments that we're proud of
Overall we finished our overall project and had enough time to think it over and have it submitted for evaluation.
What we learned
We learned that with long hours and good team work we can get anything done. We had the confidence to finish and finish we did.
What's next for Project Cre8
There are so much endless functionalities where even speaking about it can take ours. We would like to further work with 0X and look for a sidechain to test on like skale. More crafting for smart contracts will get more advanced and more fun.