So my overall goal was to string together a series of protocols to hopefully do some good and demonstrate how powerful this stuff can be as a cultural force toward solving societal ails.
Charged Particles is disrupting the way we think about value in the crypto ecosystem by bringing together the implicit value of DeFi and the speculative value of NFTs. By containerizing NFTs so that they can hold digital assets, not only is a new class of asset created (Nested NFTs), but the kinds of things you can build grows exponentially and the community is just starting to explore the implications of this technology.
James McCall is the first to start putting these lego blocks together as a proof of concept for how these innovations are changing charitable initiatives. We’re both incredibly proud and genuinely excited to see the Charged Particles protocol being used to leverage tools like Aave, Moloch DAOs, and good old-fashioned storytelling to do good in the world.
The premise is simple — a three part story about a world not so far away, available for community members to read for free. Token-gated access to the story available for holders of the $IONX, $LEX, $TRSH, and $CULTURE tokens. If you are a part of these communities, you can read the story for free HERE.
Each Epoch of the story will be released as certain charity goals are met, and the way you donate is by nesting tokens inside the NFT itself, where your donation immediately starts earning interest through our integration with Aave. The interest earned is kicked off to a DAO-controlled minion where it is then donated to a charity supported by The Giving Block. In this case, the charity is APOPO US, which helps train rats to sniff out landmines and tuberculosis in affected countries. The function of earned-interest moving to a DAO-minion is known as an annuity royalty which means it will continue to happen programmatically even as the NFT changes hands.
After 1000 DAI are deposited into the NFT, where they will be time-locked for a year to earn interest for the charity, the next Epoch of the story will be released. The NFTs themselves can, at the end, be auctioned with a price floor of whatever donations were made — if there is 2000 DAI inside, that’s the price floor.
What this means is that ALL of the donated money (or more) can be earned back to be donated in full and, for 1 year, the charity of choice gets perpetual interest from the DeFi assets locked inside.
Now, this is obviously a low stakes proof-of-concept and although it is not yet 100% trustless at the time of writing, it is pretty close, and it is completely transparent. What’s worth highlighting is the potential and the mechanics that these tools are trailblazing.
The NFT is live here! Part 2 will be released when 1000 DAI are nested inside! Consider donating.