Decentivize

Inspiration We are trying to solve a common problem most Designers face, like raising capital and generating revenue from their designs, marketing their designs to their full potential, and also not having to sell their IP.

What it does We have built a protocol in which Designers could create an NFT liquidity pool and the users who like the art could swap their coins with a fraction of the NFT making them the stakeholder of that particular NFT. Now when the Design is out in the real world market, the revenue generated through the sales will be piped back to the chain and will be distributed among the stakeholders using the concept of farming. Now the user who holds fractions of a particular NFT could stake his fractions and get the revenue profits periodically and could withdraw his staked fractions after he/she is happy with their profits.The revenue is shared among stakeholders with respect to the fractions they own. This solves many problems the Designers face, like raising capital and generating revenue from their designs. This also serves as a protocol by which common people could buy a fraction of NFT instead of spending a fortune for a particular NFT.

Challenges we ran into Figuring out the general flow of the application, creating high-level designs, and then boiling them down to low-level component designs was a big challenge in itself. From the ideation phase to actually implementing the Algorithms in the smart contract and then integrating them with the front end was a big task and that's where we faced a lot of blockers. After a lot of research and teamwork, we finally made all of our functionalities work.

We started by creating low-level architecture designs on how the workflow would be and how the smart contract must be written. We had started out with a different plan and we executed something which was definitely better. We split ourselves into the web guy and the contracts guy. Writing the contract took a lot of time, the logic, the formulas, the flow, etc. It was tested and tried in remix while on the other hand, the frontend was in full flow. We then started integrating the contract with the front end. The most challenging part was liquidity pooling and assigning fractions to the users then later the farming part. While this was being done, we also integrated a couple of sponsor tracks, we used unstoppable domains for login auth. We used covalent for creating a user dashboard and giving them insights. We used epns for the stakeholders to receive notifications from the NFT creator and also about the NFT revenue. The final product was indeed impressive. Although we missed out on a few technologies we had planned, we finally made a great protocol that definitely has a good potential to get into prod and later turn out to be something that people might be using. We still do have a few things left to integrate but we are happy with what is being submitted rn. Tech stack used - IPFS, Filecoin, NFT.storage, Hardhat, web3.js, ReactJs, Unstoppable domains, Covalent, EPNS, Tailwind.