Tier 1: below 15000 cUSDT
Title and Description:
NFT Collections that automaticaly generate income for its holders and will return its minting cost when burned.
How will this project be integrated into Conflux?
Project smart contract deployed on Conflux Network and connected to 01 Flux Protocol.
Why is your team interested in creating this project?
After we have successfully connect our smart contract to FLUX, a closed source project. We want to build a simple defi dapp using this knowledge.
On RTK Warriors:
- RTK Warriors is ERC721 that can be minted by some amount cUSDT
- Minting cost accepted by smart contract will be supplied to FLUX to generate interest
- User can burn RTK Warriors. When this happen, same amount as its minting cost will be withdrawn from FLUX and given to user
- Interest received by RTK Warriors, will be used to unlock Dragon Token and given to RTK Warrior holder
On Dragon Token:
- Dragon Token initially locked in smart contract
- Only RTK Warriors can unlock the token as reward for user
- RTK Warriors will give its revenue in cUSDT to receive DRG, and later give it to holder
- cUSDT owned by smart contract will be supplied to FLUX to grow
- cUSDT owned + interest from FLUX will be used to buy back DRG
conflux-js-sdk, solidity, react native web, conflux portal, nodejs-express server
How can the project benefit Conflux Network’s ecosystem?
Currently anyone want to build dapp on top lending platform can not do it. This because FLUX is the only lending platform available and it is closed source!
RTK Warriors source code will be example how to integrate FLUX to other dapp.
Price of projects on conflux, related tightly to CFX performance. If CFX down they down, CFX up they up. We want to change it, and show that a project token price can be separated to its platform price performance. We introduce the mechanism to buyback on increasing price in cUSDT. DRG token will be hedging investments for CFX holders.
We are two anon developers
We have 3 years solidity experience & 5 years fullstack development
Total Grants: xx+yy+zz cUSDT
- AMA in conflux channel global: xx CFX (will be used for fee & prize) est 1 times
- AMA in conflux channel local: yy CFX (will be used for fee & prize) est 2 times
- Smart contract audit recommended by conflux cost: zz cUSDT (will be used to pay auditor) est 1 month
- In case critical vulnerability, smart contract will be fixed and redeploy for free est 1 month
Long term vision:
Defi product that can be used by mainstream user powered by CONFLUX technology (sponsored-gas, magic’s login, nft to fiat) & ecosystem (FLUX, Moonswap, etc).
Long term breakdown
RTK Warriors NFT is our pilot project directed to conflux community as users. But on long term, we have vision to build defi product for mainstream users. To accomplish this vision there are some strategy we will test and validate.
Tokenized defi product as nft. Its not easy for mainstream user to understand defi. They need to learn many things/terms: Staking, lending, liquidity mining, apy, supply, burn, etc. We believe by wrapping defi as token (NFT), defi will be easy to be accepted by mainstream user. They just need to buy collectibles, hold, and receive divident. This what we try to validate using RTK Warriors NFT. (We wrap 01 flux protocol as NFT). On the future when there are more defi available in conflux network we will tokenized them.
Gas-less. Mainstream users dont know, they need eth/bnb/matic when running dapp in ethereum/bsc/polygon. Those blockchains dont have solution for this problem. Conflux already has the solution by sponsored smart contract. We will maximized this feature for our vision.
Easy authentication. Mainstream users didnt understand why they need 12 words to be written and keep safely. They dont understand there is no “forget password” link. Wallet authentication is not easy. We believe magic.link already solved this problem, and when they are available in conflux, we will integrate it.
Fiat to NFT. On many country fiat to crypto is prohibited. But for digital product/content (ebook, music, movie) they still ok. In some country, NFT can be categorized into digital product with some requirements (only buy and fixed/stable price). We will integrate payment gateway to the dapp. Our pilot integration will be on south east asia.
By having those 4 points validated and implemented, we will reach our vision to help mainstream users accessed defi easily.
Currently our team lack skill on marketing and business development, but we have plan to add team member with this skill later.
Meanwhile we will: post regularly in conflux forum & available for AMA anytime in our telegram group.
We also available for AMA in conflux & flux channel, when approved.
Source code will be in private github, but can be reviewed by conflux team.
After smart contract audited, DRG holder will vote, using stampers app to open or close the source code to public.