Tron hackathon, hackathon season 3

Most important thing is that last buyer is the one who takes the largest money!
Because according to our mechanism, people should pay commission to redeem, so last buyer will get interest continuously while people leaving the project! Then last buyer can exit with redeeming his nft. Protocol itself also would not have financial damage too.
Sorry for lack of detail description about protocol in this tron dao doc.
Thanks for great question and feel free to ask more :raised_hands:

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Not only no one has any risk, but also stable nft has same functions as conventional NFT.
And we also focus on storytelling of NFT to give fun factor and become familiar to common people. That’s the reason we created the convictzee story.

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I really like this idea it really cool and making Sense

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Thank you buddy! Appreciate your compliment!

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Minting Function and UI & UX is almost done!
Great Web design finally came out :+1:

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Redeem Function Came out!!

I understood most of your idea, but one thing I am confused is business model of your team.
Everyone is safe and fine but can’t figure out how you guys will make money!

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Our team will also have stable NFT! But stable NFT of the team is a special one that cannot be redeemed.
If we can redeem our NFT, it means that founders can access to treasury. So we will have an unredeemable stable NFT and get interest like the other holders.

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This project appears to be quite fascinating.

Some questions: - Will there be a fixed commission fees for either Mint/Buy/Redeem?

  • No commission or royalties fees on open market sales?
  • Will the commission % changes based on the NFT price?
  • You show in the graph that the Commission accumulates in the Protocol wallet before being distributed to NFT holders. Can you explain how many transactions it takes for a commission to be distributed to holders in detail, and if it needs any transactions by admin only?
  • A base price is great, and assuming you charge 1% on every mint/redeem, and 100% of the fees goes back to tresory, then to users, what happens to to the first minter who mints NFT, then someone else mints, and the first one redeems, does he ends up paying 2x commission fees and
    leaves in loss ?
  • What’s the use case of these NFT ? What should we do after minting this NFT ? Please do not say we must expect people to mint/redeem after me in order to make profit myself from their fees.

That’s all my questions.

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Do founders pay money to mint special nft ?

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This sounds interesting. I look forward to getting more information about the project. Kudos to the team!

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It appears that you have submitted your NFT Project in the DeFi section.
Perhaps you should set the post category to NFT.

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Thanks for the compliment!

  1. There will be a flexible fee on Mint/Redeem when the real product launch. If Stable NFT is expensive, the fixed commission will be huge to users.
    But in the working demo, we plan to fix a commission fee of 1%.

  2. There will be no commission fees on open market sales! We are maybe able to make a commission fee when people transfer stable NFTs to each other, but impossible or hard to open market sales technically.

  3. Yes! exactly! expensive NFT will have a low commission rate, cheap NFT will have a high commission rate. Maybe between 0.1% to 1%.

  4. No complex transaction is needed. We will distribute interest every week. So after one week of accumulation, the system distributes the interest rate automatically. and the interest rate to each holder is the portion of his sNFT in the whole sNFT pool. (sNFT=stable NFT)
    No transaction by admin only.

  5. LOL we also thought about this situation too.
    After the first minter pays a commission fee, that commission fee will go back to the holder (first minter).
    As he waits for the 1 week he will receive some of the commission by mechanism.

If there are no people want to mint forever, he will ends up paying 2x commission fee but receive some of commission. He can redeem it whenever he wants and it is just little commission, not that huge loss (Under 2% loss).

  1. Frankly speaking, the purpose of our protocol is a fancy NFT project rather than a high rate scam Defi! We expect that not many people would buy this stable NFT only for profit.
    It is similar to conventional NFT but cooler. We are going to make a great story-telling and roadmap, collaborating with other NFT projects.
    Beyond conventional NFT functions, we are planning to collaborate with real commodity companies. We only use stable coins, so it is easy to collaborate with other commodity companies. Like Nike shoes Limited edition NFT! (ticket to buy limited edition shoes)

Thanks for the important questions, we will go further for the sake of your questions.
:+1: :+1:

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Thanks :star_struck:
We are working hard to finish it smoothly! Can’t wait to open all the sources

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Nope! that’s the reason special NFT cannot be redeemed

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We are a very unique combination of NFT & Defi. So sad that we should pick only one.

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Thank you for kind answer!
It make sense

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Great question though

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Finally, Our demo and Devpost link is released :rocket: :rocket:

We will gonna update and improve details from now on!

Thanks for Tron Community Again :heart_eyes:

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So happy to see working demo! Great job guys!
I think stabln is one of the promising team ever in this tron hackathon season 3👍

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