MaskedDAO | Devpost

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MaskedDAO Ecosystem

Inspiration

During the rise of NFTs back in December 2021 we saw the explosion of a lot of projects attracting us to the space, as software engineers, we were fascinated by this new technology we saw DAO's the introduction of staking, and of course the NFTs, unfortunately, we later discovered that a lot of these projects were overhyped and badly designed, so we decided to take it up to ourselves to bring a new project with better standards and new functionalities.

What it does

MaskedDAO first project is the "Unmask the truth collection", which is an NFT project consisting of unique-looking Masks, the difference with our project is that we want to introduce new features which are the:

Automatic Shared Revenue
After diving into how staking is built and looking at how NFTs are built, we saw the possibility to introduce a new way of sharing the rewards that the NFTs project promise through a feature that we call Automatic Rewards, traditionally rewards for NFT holders are done through staking which means that you have to let go of your(stake) NFT in order to receive rewards, this is dangerous as if the user doesn't know where he is putting his NFT he can get scammed. Through the feature that we developed the user will start receiving their rewards as soon as they receive their NFT, and will not have to stake their NFT increasing security for the user, of course for this to be accomplished a high number of cheaps transaction are required therefore it was a no brainer to implement it at the Polygon blockchain. Now for the Shared Revenue, we built an algorithm that calculates exactly how much is supposed to go to each NFT holder.

Selling incentive Airdrop
Everytime a NFT holder sells one of it's NFTs, MaskedDAO will automatically airdrop an NFT membership to the seller

MaskedDAO Planned Ecosystem once the first NFT collection is deployed

Sponsors Inclusion

Currently, we implemented chainlink into our project for two features:

To set the daily share revenue, we will be using Chainlink Keepers to call the Treasury function to set the daily share revenue every 24 hours.
For Data Feeds, in order to showcase info readable to users we use the Chainlink to calculate how much a user is able to Claim as multiple currencies can also sit on the contract, and to calculate the contract TVL.

We will also be using IPFS/NFT Storage to host our metadata, we plan to have a complex JSON with multiple images that will increase the value of each NFT, so each NFT will be holding multiple images or variations of the Masks.