Architecture
Last updated
Last updated
There are a lot of parts in DaiDai eco-system, but they are all connected. Let's go through one-by-one.
INO (Initial NFT offer) is one of the main services DaiDai provides. DaiDai team learnt a fact that many artists and creators want to launch an NFT project but they are not so technical. Coding an NFT contract and building an official mint site is too much for them. From metadata to NFT, DaiDai has a set of APIs to help.A user can easily upload NFT metadata, collection info and make sale plans on DaiDai console. DaiDai supports multiple payment tokens for minting.DaiDai also has launch-day announcement for NFT project, pre-sale whitelist and community collaboration.
DaiDai's NFT market is a decentralized marketplace. All orders are on-chain. In the future, we will also consider the signature-based order system. DaiDai take a tax of 3% from trading volume and 40% of tax will be shared with primer card holders.
In NFT loan, the borrower can stake NFT/NFTs and list requests such as: borrow 10ETH for a month and return 11ETH to lender. If a lender accepts this term, 9.95ETH (0.5% tax rate)will be sent to the borrower. The borrower should pay 11ETH within 72 hours after the due date. If the borrower fails to close this contract. There will be another 72 hour grace period during which the interest rate is doubled. If there is still no payback after grace period, the lender can claim the staked assets.As mentioned before, the loan contract is an NFT. When the lender accepts this 10ETH-1Month-11ETH term, a contract NFT is mint to the lender's address. The lender can list contract NFT immediately, say for 1.05 ETH price. This contract NFT is then brought by a trader. So the lender gets 1.05 ETH and the contract is now between borrower and trader.
NFT pooling is another way to describe NFT fragmentation. Let's say a user staked Cool Cat#8 in the NFT pool, 100 $COOL will be minted. 98 $COOL will be sent to the user who staked. 2 $COOL will be collected as tax. In the meantime, 2 $COOL worth $DDT(DaiDai token) will be minted. 2 $COOL and corresponding$DDT will be added to $COOL-$DDT liquidity pool. The LP token will be sent to DaiDai vault belonging to all primer cardholders.A user can spend 100 $COOL to redeem any tokenId of staked Cool Cat.By creating token pairs for collections, their liquidity is connected through $DDT.
Primer Card is DaiDai membership card. A DaiDai Primer Card holder has the following benefits:
INO discount
DaiDai market fee refund
Non-schedule airdrop
Access to vote group
Anyone(ambassador) willing to help DaiDai can make a proposal about how he/she plans to promote DaiDai, and how much $DDT the proposer needs. The proposal will be pushed on the board for discussion.The DaiDai committee is 10 primer cardholders that are selected by the community. Committee members will be rewarded with $DDT after the expiration of the term of office.After a proposal is fully discussed. The committee will decide if the proposal can enter the voting phase. In the meantime, the voting group will be picked from all primer cardholders(except 10 committee members) by a random generator. Currently, the size of the voting group is 15. If 8 or more group members vote yes, the proposal will be executed; on the contrary, if more than half of the members vote against this proposal, it will be rejected automatically.When the voting phase is done, all members who have voted will also be rewarded with $DDT no matter the proposal is accepted or rejected. A primer cardholder can also delegate its rights to another account.All in all, this is a POW voting system.
