TL;DR Development Support for White-label UI and Early Partnership with Droppr
Hello Rarible DAO, My name is penguin, I am a DAO Member and active builder in the web3 space. My proposal today is about a project I am extremely excited to share with you. I am a founder in an upcoming NFT platform Droppr.
Team Members:
- Michael Parenti -
exiledsurfer - Sovyrn - penguin Heilman - c0mput3rxz - NTFA
- Dave Appleton - AppletonDave - EtherCards
- John Shebin - Shebitweet - Origins Protocol
- Kay Gertler - geleeroyale - Interspace
Description
Droppr’s main offering will be a community-owned Bitcoin-Native NFT marketplace. The Droppr Marketplace will be a high profile, high impact project designed and developed by veteran cryptographers, cyber-security leaders, blockchain technologists and high-performance app developers.
This is a proposal to support ongoing work on the architecture, design, and dev for a reusable white label front end that utilizes the JS SDK and the Rarible Protocol. I would also like to propose an alignment between The Droppr Platform and The Rarible DAO.
Support Whitelabel Effort:
- Droppr would like to support development because we believe Rarible Protocol to be critical infrastructure for web3 and are aligned strongly with decentralization and making a platform governed and supported by its users.
- This partnership will enhance network participation and cross chain adoption of The Rarible Protocol as the standard for NFT Marketplaces. Droppr would like support development of the white-label initiative with development support. This will develop the white-label faster and help empower future integration of the protocol.
Droppr Token Offering:
The Droppr team specializes in building Web3 solutions and supports the decentralized DeFi platform on RSK, Sovryn. We build key infrastructure and empowering web3 tooling to support adoption on all fronts; DeFi, NFT and DAOs. As part of this infrastructure we realize the need for an NFT marketplace on RSK. We have the resources and motivation to build a community owned platform as the first Bitcoin Native Marketplace. Nearly all fees generated from the platform will be given back to users of the system. We believe in building on open source technology and cooperation over competition. In the spirit of cooperation we would like to support Rarible initiatives. We are an experienced team with a track record of success and are building strategic partnerships now for a new NFT experience.
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In November Droppr will perform our token generation event and start executing our platform’s road-map of building a decentralized NFT platform. This proposal hopes to secure alignment ahead of our launch between Droppr and Rarible DAO. Before public launch we would like to offer a swap of tokens earmarked from the adoption fund between Rarible and Droppr.
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We would like to initial offer $50k worth of our token DRP allocated from the adoption fund estimated at early funder rate of $0.45 in exchange for $50k worth of RARI.
Use of funds:
This represents an offing of 111,111.11 DRP Tokens for approximately 2,750 RARI Tokens at the current market rate. Wwe would like to use the RARI for paying key devs during the initial phase and for use in Rarible protocol governance.
Milestones
The following is a best estimate time-line based on current projections.
October 2021
- Founder alignment in Prague
- Core Team Formation
- Negotiate Partnership Agreements
- Finalize Tokenomics and Fee Structure
- Start Github org
- Establish Comms Channels
- Brand Design
November 2021
- Introduce SIP to Sovryn Community
- Launch project description website
- SIP Voting
- TGE on Origins Platform
- $1M Early Funders Round
- Acquire Genesis Curators
- Sponsor RaidGuild Season 3 Cohort
- Sponsor Miami Crypto Aeronautics Event
December 2021
- Publish Development Roadmap
- Deploy Snapshot Soft Governance on RSK
- $3.25M Sovryn Stakers Presale Round
- Acquire Genesis Artists
- Complete Rarible White-label Frontend Design
January 2022
- Deploy Bitocracy Onchain Governance
- Deploy Rarible Frontend on Testnet
- Rarible Protocol RSK integration Testnet
- Partnership Announcements
- Announce Genesis Curators
- $2.3M Public Programatic Sale
February 2022
- Genesis Artist Announcements
- Public Platform Launch with Curated Drops
March 2022
- Begin Adoption Rewards Distribution
- Begin Curation Rewards Distribution
June 2022
- Begin Platform Fee Distribution
Droppr Accountability:
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We have a public discord we will answer support questions and engage with partners ahead of the public launch. We will attend Rarible Governance calls and present milestones as applicable.
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Onchain voting will be used to govern changes to the Droppr fork of the Rarible protocol (ie, votes which deploy programmatic changes to the protocol’s smart contracts). Voting on DIPs (Droppr Improvement Proposals) requires gas fees payable in RBTC, the native currency of the RSK sidechain. Droppr will deploy Sovryn’s bitcoin-native Bitocracy smart contracts, to ensure a self-sustaining platform that runs on a bitcoin sidechain with hard-coded incentives for long-term growth and sustainability and returns fees to users via App Mining.
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Staking DRP in Bitocracy will provide token holders with a claim on a percentage of fees generated by the Droppr dapp, to be distributed programatticaly via App Mining.
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Bitocracy gives weighted voting rights to participants based on how much skin in the game they have, while aligning the incentives of all participants. Only users who stake DRP receive voting power, during which DRP liquidity is suspended, thus removing arbitrage opportunities that could lead to abuses of the system. The Droppr dApp will be a community curated platform. Droppr stakers will utilize Snapshot to determine which artists and content will be offered on the marketplace.
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Snapshot is an off-chain gasless multi-governance client with easy to verify and hard to contest results. It provides flexibility on how voting power is calculated for a vote. Snapshot supports various voting types to cater to the needs of organizations. Creating proposals and voting on Snapshot is user-friendly and does not cost gas as the process is performed off-chain. ```