Project Name: Nano Network - Give and receive help and stuff with crypto
Project Track: Web3
Team Name: Nano Network
Team Member(s): 1 (qwerty389 representing the entire team)
DevPost URL: Nano Network | Devpost
Project Goal: Our platforms empower you to give & receive help & stuff with crypto. Nano Gigs is like “Quora meets Fiverr” while Nano Trade is like “eBay for Donation.” Both utilize TRC20 Nano tokens that are given for free.
Project Info: Pitch Deck
Project Repo/Website: https://nanogigs.tk and https://nanotrade.tk
Video Demo: Nano Network - Give and Receive Help and Stuff - YouTube
Project Details:
Inspiration
Here’s what’s happening now.
- People are willing to answer questions for free on Stack Exchange, Reddit and Quora.
- People are actually earning as low as $3 per gig on Fiverr. Fiverr takes $2 commission on a ridiculous 60:40 split! This leaves the service providers with nothing basically.
- People are willing to donate their unwanted stuff on Geev app (over 1 million downloads).
This shows how generous people can be. So, why not create a network of dapps to empower people to give and receive more easily while earning a crypto token that acts as a reputation meter for bragging rights. Well, no act is selfless, right?
Introducing Nano Network, a network of dapps that is powered by TRC20 a token called NAN as its currency. This crypto is given out for free to all users and used to exchange for items at Nano Trade website, and services at Nano Gigs.
Here’s how it works
- When you sign-up on either platform, you get 1,000 NAN tokens for free.
- You get NAN tokens when you help people by doing gigs or when you give away your stuff.
- You give out NAN tokens when people help you or when you get items from other people.
- For both transactions above, you can give as many NAN tokens as you please, there’s no limit.
Examples
- Someone needs a logo. They place a request with a bounty of 200 tokens. You can help them to design and receive the bounty.
- You could give away your old smartphone to someone and in return, they offer you 300 tokens as a token of appreciation.
- Thus, the more you help others and give to others, the more tokens you earn. This amount of token you have showcases how generous and kind you are which fulfills our human need to be recognized.
NOTE: In the future, you shall be able to cash out the tokens. But remember, once you cashed out, your reputation meter will decrease. This nature incentivizes people to keep their tokens which directly would maintain a healthy price for our NAN token.
What it does
We have built two platforms - Nano Gigs and Nano Trade. Nano Gigs is like “Quora meets Fiverr” while Nano Trade is like “eBay for Donation.” Both utilize NAN TRC20 tokens that are given for free.
NANO GIGS - Like Quora Meets Fiverr
It’s a platform where anyone can request for help while others can help. In return, the helpers receive NAN tokens which are used as their reputation meters or they could also cash them out (in the future).
The main motivation is to help others. But since no act is selfless, we created the token to offer the following incentives to helpers.
This platform also acts as a place for helpers to showcase their talents since their answers are publicly visible. This can lead to paid gigs or even a full-time job.
Helpers can begin by doing small tasks that someone skilled in the trade would take less than one hour to complete. These tasks can be graphic design, NFT design, copywriting, translating, video editing, photo editing, setting up websites, voice-over, and a lot more.
Current Features
- Login with TronLink wallet. No manual sign up and no email are necessary.
- Asking and answering help.
- Voting, comments, best help selection, follow-on and closed requests.
- Complete user management including token-based management.
- Able to control the amount of tokens that can be withdrawn.
- Create experts, editors, moderators and admins.
- Fast integrated search engine.
- Categories (up to 4 levels deep) and/or tagging.
- Easy styling with CSS themes.
- Supports translation into any language.
- Custom sidebar, widgets, pages and links.
- SEO features such as neat URLs, microformats and XML Sitemaps.
- User avatars (or Gravatar) and custom fields.
- Private messaging.
- Safe from XSS, CSRF and SQL injection attacks.
- Beat spam with captchas, rate-limiting, moderation and/or flagging.
- Block users, IP addresses, and censor words
NANO TRADE - Like eBay for Donation
It’s like eBay but you actually give things away for free. Free here means you actually get free tokens in return. These tokens reflect how charitable you are.
You may upload items that you wish to give away - old phones, toys, books, anything. You may place a small “price” on each item (say 10 tokens) but the requester (the “buyer”) may give more than 10 tokens as a show of appreciation, say 100 tokens instead.
Users are geographically tied which means you can only give things to those living in the same city or country. Thus, no shipping is necessary.
Current Features
- Login with TronLink wallet. No manual sign up and no email are necessary.
- Upload unlimited items with multiple photos, short and long text descriptions, tag, category, price in tokens.
- Pay with TronLink wallet.
- Ability to pay more than the set price.
- Withdraw tokens to TronLink wallets.
- Able to control the amount of tokens that can be withdrawn.
- Advanced search function.
- Banner sliders on homepage.
- Profile page for each user.
- Promote items on homepage.
- Item request management system.
- Dashboard reports.
- SEO friendly.
How to use our demo sites
- Our demo sites are here - https://nanogigs.tk and https://nanotrade.tk
- Please ensure you’re connected to Tron Nile testnet before you proceed on each site.
- Nano Trade actually divides its categories into countries, states and cities. It is capable of geolocating each seller and buyer. However, to simplify the demo, the current geolocation detection system is disabled so that you will get to view some items regardless of your geographic location.
Ukraine War Effort and Fighting Recession
Nano Gigs can assist in the Ukraine war effort by empowering global citizens to help Ukrainians to perform tasks remotely for free to rebuild their lives and country. Ukraine’s Internet service is still active.
Both platforms could help us to help others to weather the incoming recession. In return, we help ourselves by building our reputation and could eventually lead to job acquisition.
Challenges we ran into
Biggest challenge is managing optimum demand and supply of our tokens since this correlates with their value.
If we have too many free tokens in circulation (high supply) but low demand, this will lead to low token value (aka inflation). To counteract this, we can reduce the amount of free tokens given to new users when they sign up. This requires users to purchase more tokens from a DEX/CEX in order to perform more requests, thus increasing its demand. We could also increase the minimum amount of tokens they must have when withdrawing their tokens from our platforms or allocate more cool-off days in between withdrawals. This is reminiscent of increasing the reserve requirements in fractional reserve banking.
If we have a low supply of tokens but high demand, this will increase its value which will make it expensive for people to ask for help. To control this, we increase the amount of free tokens giveaway during user registration. We could even run airdrops too. This closely resembles how central banks print money (aka quantitative easing). We could also reduce the minimum withdrawal amount which encourages people to cash out their tokens, thus creating more supply. This is reminiscent of decreasing the reserve requirement by central banks.
To speed up token circulation (velocity of token), we can assist to allocate more requests for helpers to do by working with non-profit organizations that need help, and running donation campaigns to assist more people to give out their unwanted items.
We also worked day and night for four days because we only thought of this new idea 4 days before your hackathon deadline.
Accomplishments that we’re proud of
Our formula for managing the supply and demand of our NAN token.
What we learned
To a human being, no act is selfless. But people are actually willing to help others if they are given the right incentives and this incentive isn’t always money.
What’s next for Nano Gigs and Nano Trade
If we win this hackathon, we shall use the prize to help launch these two platforms on Tron mainnet with actual NAN tokens. Prior to launch, we shall improve our UI (user interface).
FAQs
Could I buy more NAN tokens if I need more? -
Yes, you can purchase more tokens with fiat or other cryptos but this is the plan for the future. We will only make NAN tokens tradeable once our network is widely used. This ensures there’s ample demand for the tokens to maintain a stable price. Meanwhile, the best way to get more tokens is to help others or give away your excess stuff.
How do you prevent someone who cheats by buying tokens to boost their reputation level? -
Thanks to the traceability of tokens on the blockchain, we could trace if a transfer of tokens is via our channel or others. Only tokens transferred between our main account are used in the reputation meter. This is why each purchase of an item and each withdrawal of tokens is via our main account, not between buyer and seller.
How do you stop someone from signing-up with multiple wallets and getting lots of free tokens? -
When they registered, no actual tokens are sent to their wallets. The tokens are only minted by the smart contract and stored in the contract to increase the supply. Only after they earned their tokens by helping others or giving their items away that the tokens are sent to their wallet during the token withdrawal request.
Could someone withdraw the free tokens they received when they signed up? -
No, our system is built to prevent this from happening by not transferring the tokens to the user’s wallet immediately after registering. The tokens will only be used to spend. Only tokens earned from helping others or giving items away will be able to be withdrawn.
How do you reduce gas fees? -
We keep synced data of the amount of tokens between our dapps and the blockchain. Thus, this reduces the unnecessary amount of on-chain token transfers.