NFT Artists are crypto-native celebrities and social tokens are the future of communities. There has never been a more obvious cross-over. As NFT artists are garnering strong social communities, Pear is a social token protocol built for them.
View the Deck: https://docsend.com/view/5vpwhegutigni8np
There’s a reason social tokens haven’t gained the mass adoption they deserve. Social tokens are cumbersome to maintain and hard to bootstrap.
Two Main Problems:
Creators need to sell them.
Creator owns less and less of their own token. This diminishes creator’s incentives as tokens are sold to the market over-time.
Liquidity is expensive.
Creates a financial barrier to creating and maintaining social tokens. Incentives for LPs aren’t sustainable - in fact, it can lead to mercenary capital chasing yield.
Artists aren’t token founders. Pear protocol introduces a standard.
Tokens are priced on a bonding curve.
Collectors can buy or sell to the curve at any time and no one has to worry about sufficient liquidity. No liquidity providers are needed.
Capital deposited to buy the token earns yield.
in yearn finance. This yield is continuously streamed to the artist. This is their income. Artists never have to sell their own token.
A new way to collect NFTs
Pear isn’t for creating pet rocks, NFT collectors can productivize their tokens. We’re not just creating a social token protocol, we’re creating a hub of apps that let artists productivize their tokens for their collectors.
Introducing: NFT Farming.
Stake the artists token, Mint NFTs. While collectors farm NFTs with the artist’s token, the artist earns yield from the collector’s DAI.
Introducing: Private Auctions
Stake the artist’s token to get access to their private auctions. Artists decide an amount collectors must stake to be part of the citadel, where they get a chance to bid on exclusive NFTs.
We’re building a feed + only fans like system, but instead you’re staking to get access to exclusive NFTs that you can bid on.
Progress and Plan
We’re currently working on the smart contracts and plan to finish in June 2020. We’ll be taking some time for audits from PeckShield and Peer Reviewers. In parallel, we’re continuing work on the designs for the Dapp. We plan to launch the token and the protocol together, and we’ve established a token distribution that is fair to artists, and to the initial collectors who’ll be participating in the platform.
- 0xCelsius: Ops, Growth, Design
- 0xYagami: Product Manager, Protocol Architecture, Solidity Dev
- ryuk0x: Solidity Dev
- 0xPunk: Designer
We have had 0 funding as of now. We’re working towards a fair launch and we’re working at no cost to the DAO for the time being. The funds from this grant will be used hire a Frontend Developer.
The DAO could use all the help we can get, both from non-technical and technical contributors. This is a public out-reach for those who’re interested in joining the DAO, early. Contributors will be rewarded with governance tokens. For the role of a Frontend Developer, we will also provide remuneration in DAI. For other roles, the DAO will provide a DAI remuneration once there is additional funding. All DAO communication currently happens in a telegram group.
- Solidity Developer (help with a peer review)
- Designer (contribute to our Figma)
- Community and Governance.
Additionally, we also need the following to be advisors and join the dialogue:
- NFT Artists.
- NFT Collectors.
- Social Token connoisseurs.
- DAO OGs
If one of these describes you, please reach out to us.
If neither of these words describe you, but you’re interested in the protocol, you can make an open application to the DAO in how you can contribute, reach out to us by joining the telegram group mentioned above.
If this proposal passes, MetaCartel members will be whitelisted for a contributors airdrop.