A platform where people can support their favourite creators. To support creators they stake some amount in the creator's pool, this complete amount can be withdrawn and creators get the interest generated!
We're all familiar with how we support creators in the Web2 world. We have been picking our brains to figure out how we would make this a better experience on Web3. Loop is a content-creator-first platform built to address the needs of Creator 3.0. Imagine if you could support your favorite creators without actually spending anything! Behind the scenes, we're using the Aave protocol to stake user funds and generate interest. The users can get their funds back anytime and the creators can withdraw the interest generated on the pool. With Loop, creators can also LIVE stream their content and do much more.
How it's made
Our aim is to build a content-creator-first platform. Using Loop, Creators can not only own their content but also earn what they deserve without taking a cut or paying a middleman. First, the content creators are required to register, by filling out a form asking for basic details like social media account handles, profile pictures, and other personal information. Once they fill the form, they will be asked to connect their wallet, all the creator information is stored in IPFS including their profile picture. The cryptographic hash returned from IPFS will be stored in the smart contract; this hash is later used to retrieve creator information from IPFS. The project mainly uses two smart contracts, Registration, and Creator. The role of the Registration contract is to onboard creators and save the creator IPFS hash. It also provides getter functions to read creator data stored on-chain, including the IPFS hash, creator's address, and creator contract address. A new creator contract is created whenever a creator is onboarded. Besides that, it also handles deposits and withdrawals for both fans and creators. Other getter functions include the amount staked, the number of supporters, and the amount staked by each fan. We're using AAVE protocol's lending pool to stake, generate interests and retrieve the funds. The aTokens minted are handled by the creator contract. Using Livepeer's open video infrastructure, content creators can also stream exclusive content for fundraising for social causes or to engage with their communities. Loop Dapp is built on top of React.js for single page application, tailwind CSS for stylig, Web3 modal to connect with different wallets like MetaMask, Torus, WalletConnect and Fortmatic, and ether.js to interact with the smart contract, video.js and HLS (HTTP Live Streaming) for live streams. Our Smart Contract is written in Solidity, and the app is deployed on Vercel. Sponsor technology used in our project includes Livepeer for streaming infrastructure, IPFS for information storage and retrieval. We wanted to build a content-creator-first platform and we're pretty happy with what we've achieved so far given the time frame we had.