Paperhands DAO - use NFTs to bootstrap DAO. NFT is used for voting on governance and the longer you hold the NFT the more value it accrues. If you want to cash out must destroy the NFT and lose vote power
The Paperhands DAO Big issues with DAOs starting out is token sell pressure. What I aim to do is delay that sell pressure by adding beneficial dynamics to the token holders. Users can mint their token for a fee (eth). If they choose to stake this NFT, they can vote on governance proposals within the DAO. The catch is, the longer they hold the token, the larger the payout will be via a superFluid stream. In order to cash this out, the user must destroy the token and lose their voting power to do so. I'm also using a theGraph API to pull the location of the tokens to get a quick glance at how many wallets hold the NFTs, how many are staked and how many have been burned. The overall goal is to have the DAO now relieve much sell pressure on their native token and have the Eth gained from the purchasing of the NFT to use how the DAO needs it. To Do - Incentivize participation in voting (increase superfluid flow) Allow governance to change/stop flow to certain wallets for bad actors Get more details display from theGraph api
How it's made
The backend (solidity) is composed of two contracts. The NFT contract using ERC721 is using the SuperFluid protocol. When the NFT is minted a block timestamp is created for that tokenID. This will keep track of the flowrate the the NFT will earn over time being held since mint. In order for the user to participate in DAO votes, the user must transfer their NFT to the DAO contract and become a member of the DAO. Then the user can vote on any proposals the DAO creates. If the user decides to leave the DAO, the user can claim their NFT. If the user chooses, they can burn their NFT to claim the tokens on the contract at a set flow rate (time held) on a static flow rate. In the front end, I use react and ethers to connect the contracts. I also create a "theGraph" api to keep an update list of wallet holders for the NFTs so users cant get a birds eye view of how many NFTS are in contract, how many are burned and how many are just being held.