Full Product Write-up available here:
Quick summary
Send NFTs and airdrops to anyone on the internet, no wallet required. 🌎
Summary
Send NFTs and airdrops to anyone on the internet, no wallet required. 🌎 A non-custodial smart contract "n00b wallet" is created for them automatically, tied to their social media account...no action required. Onboard mainstream users into Web3! 🎁
Protocol: n00b wallets
Every day, anyone around the world is allowed to upload an image that describes the collective mood/sentiment/meme of Crypto Twitter for that day. Images can be Dall-E generated, quotes, screenshots, or custom. It costs .1 ETH to submit.
The top voted image each day is made into an NFT, added to the Yearbook NFT collection, and given to the creator (or auctioned off Nouns-style the next day 🤔). For all submission fees, 50% goes to the daily winner, 30% is split between all past members, and 20% go to the DAO Treasury.
At any given time, you can browse the Yearbook NFT collection for the collective storylines, drama, highs and lows of Crypto Twitter. These are enduring cultural storylines, distributed and self-sustaining through recurring cashflow.
With traction, expand Yearbooks to other online communities NBA fans, US politics, Game of Thrones, etc.
An NFT marketplace for trading “social capital” like endorsements, intros, work-for-tokens, or a consulting calls.
“Web3 Fiver” or “tokenized time” has been attempted a few times, but we propose a couple important tweaks: 1) focus only on the web3 creator economy like influencers, community managers, smart contract specialists, and NFT artists and 2) build the tech as an NFT marketplace to get composability with the already large ecosystem: 2ndary sale fees, aggregators, dexes, lending, fractionalization, etc.
Web3 project marketing, fundraising, audits, and community mgmt already have a market today but there is no standard pricing or distribution point. Everything happens in Twitter DMs and Telegram. An NFT marketplace could capture the non-monetizable social capital the that Eugene Wei and Balaji Srinivasan’s Earn.com have hinted at for years.
The NFT contracts would have built in escrow, arbitration, insurance, & reputation with creators keeping the majority of the revenue for their services whether a RT, Intro, or audit.
NFTs as memberships is starting to hit PMF (like Syndicate’s Collectives, Unlock, etc) but NFT secondary market volume/revenue has declined substantially. Recurring revenue is now important in a non-📈 market to support operations for DAOs, NFT projects, social clubs, etc. Nouns is one recurring revenue model with its daily auctions.
Subscription NFTs are another model and we’re seeing early examples from Mirror’s subscriptions, Diagonal Finance and others.
Let’s see how it works:
A user stakes $200 USDC into the protocol which earns them passthrough yield from Aave. They then can mint subscription NFTs for various services like token-gated discords, a crypto newsletter, or an API’s premium tier. In real-time, the capital is steamed to the subscription services they’ve signed up for. If they run out of money, there’s a grace period and then their NFT is burned by the protocol and the service is no longer accessible. The user can cancel anytime by burning their NFT or reselling it on a secondary market. SaaS for crypto. The protocol earns a % fee on Aave yield (10-50%) and possibly a fee on NFT burning.
Let’s say you wanted to make an alternative UI to Twitter without them being able to cut off your developer API access. Instead of calling the API directly, you called a middleware service that rotated the API key with each request so you could still get access to all public data without a single point of failure. Private data and write endpoints aren’t supported. You pay a small amount of tokens per request.
On the other side of the market, anyone could sign up for a Twitter API key, “stake it” in a web app, and start earning tokens to their wallet. Alternatively, they can install a Chrome extension that does the same thing with your in-browser auth token.
It’s a protocol where anyone can run these API relay gateways or contribute their API key to help break the Big Data corporate silos! 💪
🥳 🧹 🥳 🧹 🥳 🧹
We’re proud to announce DustSweeper v2 is ready for its mainnet launch! The new version includes massively expanding token support (from 80 to >5k tokens), major gas optimizations, dynamic pricing, token system preparations, and other features that make Dustsweeper awesome and seamless for our users!
Head on over to dustsweeper.xyz to start cleaning out your old wallets! 🧹
Summary
DustSweeper (🧹,🧹) allows users to swap small balance tokens (”dust”) for ETH without expensive gas transactions. Users just have to approve() the tokens they’d like to sell, and “market taker” bots execute the swap.
- ETHDenver Finals Demo: View on Youtube
- Follow on Twitter: @DustSweeperDAO
A PRD is a “Product Requirements Document” that describes a customer problem in a market, proposes a set of features that might meet their need, and provides tangible criteria for measuring success and enabling future product iterations.
This document outlines what should be included in a standard PRD for an early stage product idea. Feel free to use it as a template if helpful for your project. An example PRD can be found here.
Summary
<1-2 sentences succinctly describing what the product or service will do. It should fit in a tweet and catch the reader’s attention.>
📈 Top 3 Stories from the past week
ConstitutionDAO raises $47M but loses auction | 🔼 41
ConsenSys raises $200 million to continue growth | 🔼 33
Aave ARC announcement | 🔼 26
We were off last week because I was admittedly tapped out after an awesome week at NFT.NYC. But we’re back! I’m intentionally not covering Aave V3 on this week’s update since it requires a longer write-up. Thanks for reading and if you have feedback or a request, we’d love to chat at @0xViabull.
📈 Top 3 Stories from the past week
ENS Airdrop | 🔼 45
Ribbon Treasury for DAOs | 🔼 35
📈 Top 3 Stories from the past week
Gnosis Safe crosses $100B in stored value | 🔼 56
Photoshop adds NFT verification | 🔼 22
Filecoin: One year in | 🔼 22
📈 Top 3 Stories from the past week
DeFi Pulse breaks $100B | 🔼 37
📈 Top 3 Stories from the past week
Polkadot Parachains are coming | 🔼 31
This post is the PRD for Paymagic, a hackathon project built as part of EthOnline. A “PRD” is a Product Requirements Document that describes a customer problem in an emerging market, proposes a set of features that meets their need, and provides tangible criteria for measuring success and enabling future product iterations.
If you have feedback, we’d love to hear from you here! 🙏
📈 Past week’s Top Crypto Product News
Aave launches on Avalanche | 🔼 40
Flashbots Protects launches to improve transaction execution | 🔼 39
a16z invests in Axie Infinity; massive growth in Play to Earn market | 🔼 17
📈 Past week’s Top Crypto Product Launches
MultiSafe becomes Coinshift for smart crypto treasury mgmt | 🔼 40
Visa enters L2 space race; Connext to connect them all | 🔼 33
📈 Past week’s Top Crypto Product Launches
Twitter launches crypto Tips on Bitcoin Lightning | 🔼 234
Robinhood rolling out full crypto wallet with transfers | 🔼 187
DeFi $DATA Index from Index Coop tracks Web3 Data Economy | 🔼 65
📈 Top Launches in crypto from the past week
Zodiac, tools for DAOs from Gnosis Guild | 🔼 47
📈 Top Launches in crypto from the past week
dYdX releases governance token | 🔼 97
Terra launches Project Dawn, $150M Fund for infrastructure & Cosmos | 🔼 76
We've compiled a list of the best DeFi resources for newcomers.
👋 Intro
As crypto and Ethereum go increasingly mainstream, many newcomers are starting to discover DeFi for the first time, but they have trouble finding clear, up-to-date explainers on the topic.