Submission Date
January 27, 2022
Project Links
Website: http://7d.opencurrency.technology/
Project Description
Seven Dots drives innovation in multiple ways. The project has a runway of 1-2 years.
Users buy dots and stack them together to create unique NFTs. They receive a reward in 7DOTS (ERC20) for stacking dots to create art. The 7DOTS token can be staked, so early adapters will have an increased incentive to join and participate.
80% of all profits will be allocated to a treasury. Users can redeem their 7DOTS token against a proportional share of the treasury at all times. OpenSea Royalties are also paid out to the treasury (80%), thus the project can work long-term.
77,777 dots are sold in auctions, mac 196 auctions at the same time, with a duration of 24 hours. By this, the project gets minted over a year (or longer), and no front-running can happen. Seven Dots aims to innovate on this token emission mechanism to invent and experiment with new forms of token emission. We think this is necessary to push mainstream and offline adaption of blockchain and tokenomics.
Seven Dots is a nice and very creative, community-driven art project. It also innovates new forms of tokenomics, on-chain SVG creation, and community-created NFTs (by stacking attributes together).
Seven Dots is highly dependent on a very active user base and thus the low gas fees of Polygon are perfect.
Amount requested
20,000 USD
Milestones
Create a DAO, multi-sig, pay gas-fees for users, Twitter and social media outreach: 1-2 months
Innovate and create a new version of this protocol that distinguishes between active users that want to hustle (aka create NFTs) and non-active users that want to invest huge amounts of tokens and rest.