Cryptowriter

Share this post

DAPP News & NFT Marketplace

crypto.writer.io

DAPP News & NFT Marketplace

Wes Carmichael
Jul 21, 2021
35
20
Share this post

DAPP News & NFT Marketplace

crypto.writer.io

DAPP Launches on Bancor

The Dapp Network community has chosen July 26th for Bancor’s DAO to whitelist DAPP. They will provide single-sided LP staking with a 500K BNT co-investment. This whitelisting will make Bancor the liquidity hub for DAPP’s ERC20 token on Ethereum.

Check out my previous DAPP articles to learn more about single-sided liquidity:

  • Earn Risk-Free Yield on DAPP Tokens

  • Multi-Chain NFTs & DeFi Gamification

Why Bancor?

DAPP Network chose Bancor because they provide liquidity-as-a-service. Their AMM will bootstrap DAPP token’s liquidity on Ethereum. The single-sided LP enables impermanent loss protection for those staking tokens. The Bancor bridges also use LiquidApps technology.

Twitter avatar for @LiquidAppsIO
LiquidApps @LiquidAppsIO
Why did the #DAPPNetwork choose @Bancor? ☑ Liquidity-as-a-Service for Bootstrapping $DAPP Liquidity on #ETH ☑ Impermanent Loss Protection ☑ Single Sided $DAPP LP Staking ☑ Planned #Bancor Bridges Using #LiquidBridge Technology ☑ Best in Class AMM
blog.bancor.networkBringing Bancor to PolkadotWe’re excited to announce that work is underway on a cross-chain bridge that would allow Bancor to expand its decentralized liquidity protocol to Polkadot. The implementation could eventually give…
5:00 PM ∙ Jul 13, 2021
24Likes6Retweets

Voting for Bancor Governance

There’s a proposal to whitelist DAPP on Bancor’s governance portal.You can vote by staking BNT to generate vBNT.

The vBNT is acquired by staking BNT into liquidity pools or by swapping on Bancor itself. When you stake BNT into an LP, you get an equal amount of vBNT in return. The vBNT token grants users governance rights. To unstake BNT from an LP, an equal amount of vBNT must be sent back in exchange for the original BNT. There is also a vBNT-BNT LP, so you can swap vBNT for any token. It’s currently trading at a huge discount to BNT itself.

You can swap for discounted vBNT here.

Twitter avatar for @LiquidAppsIO
LiquidApps @LiquidAppsIO
SAVE THE DATE! 🗓 The #DAPPNetwork community has chosen July 26 for the @Bancor DAO to vote to whitelist $DAPP for single sided LP staking with a 500K BNT co-investment! gov.bancor.network/t/proposal-whi… How to Vote? 1️⃣ Stake $BNT to Generate $vBNT or 2️⃣ Purchase vBNT at a 66% Discount
Image
5:00 PM ∙ Jul 13, 2021
44Likes15Retweets

Voting for DAPP Governance

One final proposal is required to define how much DAPP the community will budget for rewards. The allocation towards Bancor rewards are dependent on the DAPP to BNT ratio when it’s proposed. DAPP inflation will fund Bancor rewards, impermanent loss protection, and the DAPP Governance Fund — used for bounties.

The proposal has not been finalized, but DAPP yield should remain lower for minimal lockup periods. The highest yields are reserved for those locking LP stakes at the maximum of one-year.

Twitter avatar for @LiquidAppsIO
LiquidApps @LiquidAppsIO
The #DAPPNetwork introduced a community governance system earlier this year to decentralize the network decision making with $DAPP token holders at the helm. Since then, we've seen 7 passing proposals which are all summarized in this YTD #gov recap. 🏛️ medium.com/the-liquidapps…
medium.comDAPP Network Governance — 2021 YTD RecapThe DAPP Network Governance model, which was established in March, has enabled DAPP token holders to reach a consensus on various proposals that have been put forward to growth and mature the…
6:42 PM ∙ Jul 15, 2021
30Likes12Retweets

The community approximated these incentives will result in roughly 10% of circulating DAPP being locked into the LP. Since most of these tokens are currently being staked to DSPs, this migration should result in DSPs earning roughly 25% higher inflationary rewards for every DAPP staked to their package. Since there’s less tokens being staked overall, DSPs will earn more inflation for developers using DSP services. So they might actually be able to lower their staking costs for devs.

You’ll need to unstake your DAPP tokens from DSP packages in order to vote. The unstaking period varies for DSPs, but should not extend 24 hours. Once the tokens are unstaked, you’ll lock DAPP to the governance portal. Now you can vote on the proposal. Your tokens will be locked for 72 hours after the vote has reached approval.

Dev Bounties

There is still an outstanding 100K DAPP bounty for Proposal 8: Enable Third Party Staking for DSP Services While Staked / Locked into DAPP Governance. The code is already written in the airHODL contract. The implementation should be pretty straightforward. Anyone interested in completing this bounty can make a pull request.

Developers wishing to propose a bounty may post their requests on DAPP’s Governance portal.

LiquidApps also recently distributed a 750K DAPP grant to Blockstart. This team designed and deployed DAPP Network’s Ethereum bridge.

Twitter avatar for @LiquidAppsIO
LiquidApps @LiquidAppsIO
#LiquidApps has awarded Blockstart, a Silicon Valley accelerator for decentralized applications, with a 750,000 $DAPP grant for the design, development, and deployment of the $DAPP bridge to #Ethereum and its associated ERC20 contract. Congratulations @Blockstart_one!🍾 #BUIDL
Leonardo Di Caprio Cheers GIF
7:22 PM ∙ Jul 14, 2021
72Likes17Retweets

DAPP Powered NFTs

The DAPP Network community has discussed many future use cases for NFTs. DAPP Network technology will enable NFTs to reach their full potential. Members of DAPP’s community are currently building an NFT marketplace. This marketplace can only be speculated upon at this time. But it’s stimulating to review the possibilities.

Whenever you receive NFTs — let’s say you open them in a pack — there’s always a chance you’ll own a really rare item. But, most likely, you’ll get a bunch of NFTs to combine and create a better NFT.

Twitter avatar for @LiquidAppsIO
LiquidApps @LiquidAppsIO
"The new #NFT bridge will increase collaboration and cooperation between the projects. Plus, they can now harness the full potential of #DAPPNetwork without being tied down by blockchains. The new bridge supports a higher volume thereby and promotes a healthier NFT Market."
Twitter avatar for @NFTevening
NFTevening @NFTevening
@LiquidAppsIO Coming Soon: Bridge to Allow Users to Move NFT from @WAX_io to @ethereum RT Full Story: https://t.co/WSyBRoB41Z
4:17 PM ∙ Jul 19, 2021
26Likes4Retweets

One component of the NFTs could be boosting liquidity mining or maximizing one’s yield. Different NFT functions will depend on the creator’s intent. Another idea is time duration or NFTs allowing you to mine higher yields over hours, days or weeks. There could also be NFTs allowing yield percentage boosts. Some might require accounts to own a certain number of tokens in order to activate their use cases.

There’s many different NFT components with various slots or effects towards staking gamification. The demand of a future DeFi / NFT marketplace and exchange geared towards these concepts is huge.

Such a marketplace will enable many ways to create deflationary mechanisms or induce DAPP buying pressure:

  • Trading fees can be generated from such an NFT market. The tools being discussed by DAPP Network’s community would ideally incentivize trading volume. And the fees generated from NFT trading could be dispersed back to DAPP Network’s community. This capital could be deployed for even more NFT rewards if the community voted in favor.

  • NFTs could also enable deflationary mechanisms for DAPP’s token supply. NFTs could become a burning mechanism. Imagine a 20% trading fee for every NFT traded on Matic. Those tokens would accumulate from the fees. And, every month, DAPP Governance executes a buy-back-and-burn implementation. Another deflationary idea is NFT minting fees of roughly 20 DAPP tokens. In other words, you’d burn 20 DAPP to utilize NFTs.

  • Imagine $20K worth of DAPP or stablecoins embedded into the NFT itself. And that NFT would be super rare. You could set the odds on a smart contract so everyone burning, minting or crafting NFTs would participate in efforts to find this super rare item. Participants would know someone is going to mint the golden-ticket-NFT worth $20K.

The user interface for NFTs is underway. Nothing is official yet because it’s happening informally and in the background. But there will be a slick interface for DAPP’s NFT marketplace.

The front-end you’ll use to stake liquidity on Bancor is the same front-end for NFTs. DAPP Network’s Ethereum bridge is also compatible with this front-end. It’s going to be a one-stop-shop for everything. There will be an NFT Under Construction section at first. But there’s developers working hard to make these ideas possible.


This article was prepared and accomplished by Wes Carmichael in his personal capacity. The opinions expressed here are my own and do not reflect the views or opinions of LiquidApps.


Learn how to earn…

  • Engagement Rewards

Become part of our community.

  • Telegram - Discord - Facebook Group

Follow our socials.

  • Twitter - Instagram - Facebook

Subscribe to our podcast.

  • YouTube - iTunes / Apple - Spotify

Subscribe to this publication.

  • It’s free (for now)

20
Share this post

DAPP News & NFT Marketplace

crypto.writer.io
20 Comments
cloudplans
Jul 21, 2021Liked by Wes Carmichael

Any project with a staking system attracts my attention. Therefore, DAPP will be on my watchlist.

But, NFT side of the article attracts me more. The idea about percentage boosts is brilliant.

Also i liked the idea about embedded DAPP or stable coins. Participate in efforts to find super rare item would be exciting.

Thanks for the article Wes!

Expand full comment
Reply
1 reply
badumtisss
Jul 21, 2021

As far as I understand technical part of the system is very well designed and these features sound decent. What got my attraction is the NFT bridge, there are many platforms which have good collections, connecting these collections would be high level work.

The idea of NFT bridge excite me more than other multi-chain features. We will see what awaits us in future.

Thanks for the article, I tried to understand it as much as I can.

Expand full comment
Reply
1 reply
18 more comments…
TopNewCommunity

No posts

Ready for more?

© 2023 THE WRITER COMPANY PTY LTD
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing