The world and the financial system that's build upon it is on the verge of extinction. It is not possible anymore to change this course by simply making changes on the current financial system, we need to replace it completely. What our project aspires is being a pioneer to this rebirth. We make defi tools that has "sustainability first" mindset in a hope to spark others to have the same mindset too, because world can't be saved by having sustainability as a second priority. In summary we hope to start a rebirth of the current financial system which will be replaced by one with sustainability at its heart.
Our project, which takes its name from the Latin word for green, basically allows DeFi and NFT users to create a fund to be used for sustainability purposes by systematic and technological proposals and manage this fund with its DAO.
Who we are
We are the first and biggest university blockchain society in Turkey. We aim to spread our blockchain and decentralization vision in the community. We organize in-face meetups, educations regularly. We buidl blockchain projects, attend hackathons, also we are expanding our open-sourced Turkish Solidity tutorial series.
The reason why we drew a dinosaur embryo on the project's landing page is that this drawing, which represents a kind of new generation of this completely extinct creature, is very similar to nowadays of humanity. As humanity, we push ourselves to extinction in the existing conditions, and if we do not take any action, we will face a bitter end. However, as a team, we do not approach this situation without hope and believe that we can stop this trend with minor changes. The dinosaur embryo also symbolizes our rebirth.
What it does
Viridis focuses on daily-used DeFi and NFT applications to generate funds from user tx’s. Many dApp integrations are provided in our platform by interfaces or own protocols to offer DAO funding options. There are 3 active use-cases on our platform which are DEX, NFT Marketplace, and Lending tools.
DEX Tool: Our DEX Tool interacts with all DEX pools and transfers the incoming funds to the DAO by placing an optional commission with the DEX commissions. It can be thought of as donations in orders.
NFT Marketplace Tool: Our tool enables scalable and fully on-chain NFT auctions for Ethereum L1. Auctions of NFTs can be conducted on Starknet and gas fees can be minimized in a decentralized way. In return for the savings provided by the reduction of gas fees, an extra commission is taken from the users and this fund is transferred to the DAO pool.
Lending Tool: Our Lending tool is non-profit and uses Carbon Tokens as collateral - It loans matic based on the amount of carbon token borrower supplies and takes commission from the carbon token amount. The commission then is locked in the contract and is out of circulation(burned). Burned carbon tokens represents carbon emissions offsetted in real life.
Future Tools - Dex Aggregator Tool: One of the possible future tools is creating a DEX aggregator and sharing its positive slippage incomes to the DAO pool.
While you are curing nature, get your Soulbound NFT that measures your contributions and will always remain in users' wallets and go beyond a financial value. Each contribution amount is stored by generating Soulbound NFTs with on-chain metadata per user. These contribution data determine the voting power of the users.
These NFT owners will determine the status of the pool by choosing its distributing and funding stages.
DAO Pool Use-Cases:
- Supporting other climate focused DAO's
- Supporting carbon offset related projects
- Selling tree NFTs to support tree planting
- Supporting SDG related project planning and implementing phase
How we built it
On the backend side we have used Solidity and Cairo smart contracts and did not use any server backends. We have built the frontend by using React and helped from Ethers.js, Starknet.js, and our own Web 3 library Ethylene.js which eases smart contract integrations and state managements.
Challenges we ran into
Of course, it was not easy for us to realize a successful sustainability setup with the right token and infrastructure models. We wanted to have a part of sustainability in the application models that users use all the time. Therefore, it was very difficult for us to create a sustainability fund by ensuring that the applications to be used on our platform are DeFi and NFT applications, which are used quite frequently.
Also, another challenge that we meet using Starknet. Even though it offered a specific development kit for testnets, it still took quite a while to run a contract, so we can say that our mobility for our L2 tests has decreased.
The Goerli network we tested last night was unfortunately down for hours. Therefore, the fact that our contract tests were stuck very close to the deadline made our job very difficult. We could not use other testnets as Starknet only works on Gorli.
Finally, it took us some time to try to find the most efficient way of utilizing the funds which are collected by transactions.
Accomplishments that we're proud of
Firstly, as a university blockchain club community, we are proud to be a part of a project focusing on sustainability and take place in EthPrague. We designed and used blockchain by thinking of a new birth in the sustainability approach to the extinction crisis our world is going through. We are also proud to present the latest scalability solutions with a vision that predicts primitiveness and rebirth. Finally, we think many crypto projects overlook design and story. We are also proud to have worked hard on the story and design for Viridis Finance, which includes many technical backgrounds.
What we learned
What we learned most clearly is that Ethereum is going to have enough capability to cover many new use cases especially on sustainability and urbanism. In other words, the people in our team learned that they can act without fear for their new ideas. We have learned that we are once again approaching infrastructural competence in terms of building the future with Blockchain.
What's next for Viridis Finance
Viridis Finance is emerging as a project whose future is open to improvement. The fact that its contracts can be integrated as if they were protocols makes it a part of many new decentralized applications.
Therefore, in the upcoming period, we can introduce this project by bringing it together with the community that has developed around many other sustainability ideas.
Side events and partnerships that will strengthen the community and can attract more users. So, we can increase the funds that will go towards sustainability in this way. In addition, the increase in the number of users included in the DAO will diversify how the sustainability fund can be evaluated.
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