These are non-tradable fixed price tickets to get exclusive services/products from creator.
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gated community on discord, telegram
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exclusive video content, one-on-one intereaction (online/offline), shoutouts on social media
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merchandise
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real world use cases like access to front row seats of Creator's show (if creator is a musician or comedian).
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Businesses can also be a creator and reward their loyal customers (token holders) with exclusive products and discounts. This will make their business Network Effect driven by creating sticky customers.
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Creator Tokens : fans and followers can buy creator tokens at price fixed by creator or community. These tokens should be treated as vouchers or tickets which can be bought but one cannot sell them back directly. A creator can choose to create subscription by deducting some tokens from holder on regular basis.
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NFT Sale against Creator Token : Creator or community can decide upon price of NFT in creator tokens and list it for sale.
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DAO : token holders can take part in creator community governance. Handles creator treasury.
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Accepted Payments & Allowances : 3 tokens are accepted for buying of Creator Tokens as well as receiving allowances. These are wrapped network's token (like WETH for ethereum. WMATIC for polygon, WAVAX for Avalanche, etc.), USDC, DAI. In case user doesn't own wrapped ERC20 version, we will integrate the function calls to wrap the token.
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Same Creator Token can gives access across a range of products both online and offline.
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Fans/Followers can take part in creator's decision making which takes participation in creator's journey to another level
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Global nature of blockchain makes cross border ticketting easier.
Creator/Community are Tradable Social Tokens that offer potential increase in price as Creator/Community grows. Growth Tokens are superior version of Loyalty Tokens. They are traded with in-house AMM and offers:
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Liquidity Pair of CreatorToken-BaseToken : Gateway between Creator Economy and External World. Creator can choose from a list of options to select best suited BaseToken. For e.g. USDC, DAI, WETH, WBTC, BUSD, etc.
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NFTs that are pegged to CreatorToken : Price of 1 NFT will be constant w.r.t. CreatorToken and every time a new NFT is added to the vault same number of CreatorTokens will be minted to ensure the peg. Price of NFT soars when Creator Tokens soars w.r.t. Base Tokens. Secondary Market for NFT allows price to soar further but the floor price of NFTs stay constant w.r.t. Creator Tokens. At this price NFT holder can sell to the vault.
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Bank : for NFT backed lending borrowing of Creator Tokens
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DAO : for Creator community governance. Handles community treasury.
Creator/Community can decide to opt for anyone of them.
We plan to target low gas fee EVM compatible chains first since the same smart contracts will work it is just a matter of deployment and updating the webapp.
Currently, each network will be exclusive of others. Creator can be on multiple networks but there will be no cross network integration.
We don't have any personal preference but Creators are advised to choose networks with high transaction volumes and low gas fees first.
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First we will deploy to 6 netowrk's testnet for 1-2 month, meanwhile onboarding creators and building community,
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and then to mainnet.
Top EVM compatible chains:
- Avalanche
- Polygon
- BSC
- Fantom
- Harmony
- Moonriver, Moonbeam (Polkadot Parachains)
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Due to high number of transactions and low average transaction value, we believe Ethereum is not the best for our protocol but still this step will help get high end Ethereum network users.
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Also profits generated from Round 1 will help pay gas fee for contract deployment.
- Ethereum
Remaining EVM compatible chains:
Top EVM compatible chains: 8. Arbitrum 9. Optimism 10. xDai 11. OKEx 12. HECO 13. Solana (Using Solang Compiler or maybe Neon)
We further plan to expand to EVM non-compatible networks depending on user demand:
- Solana
- Terra
- Algorand
- Cardano
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Creator Token
- Buy Creator Tokens at a price fixed by Creator/Community using network wrapped token like WETH/WMATIC/WAVAX or stablecoins like USDC, DAI. These base tokens/payment tokens received are send to DAO contract which handles treasury.
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Creator DAO
- Token holders can make proposals
- Creator/Community can airdrop Creator Tokens to any account since these tokens cannot be sold and only be used to access premium stuff, creator can airdrop into wallet giving a fan free access to creator's products.
- Creator/Community can add managers and those managers will be given allowances in base tokens / payment tokens received by the DAO contract on Creator Token sale. Using these allowances they can pay folks/employees, they hire, for specific task either on Pay Per Task basis or monthly salaries. Managers can transfer from their allowances to the employee's allowance value.
- If creator is a person/business then creator can redeem any amount of base tokens/payment tokens from DAO since it his/her earning. However, it is advisable to keep leave some amount for allowances.
- In case creator is a community with no central entity then direct/unapproved redeem is not available and every token redeemed goes through allowances voting process.
- 2 types of proposals
- Allowances Proposals to decide amount allocated per manager. Single proposal can handle multiple managers' allowances.
- General Proposal will contain link to their DAO Forum's proposal page where detailed discussions can take place. Results of these proposals will be acted upon by community members in good faith.
- Token holders can vote for each of the proposal
- Result of voting is based on number of CreatorTokens held by the voter. For first case only 2 choices, no or yes. For General Proposal any number of choices are allowed.
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Creator Vault
- Creator/Community can add NFTs to vault. Further list it for Sale at before mentioned price.
- NFTs are sold for Creator Tokens which are burnt since they are only a form of voucher/tickets.
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Creator Vault
- Creator Add/Mint NFTs to vault contract
- Launch Creator Token, make it available for community to buy. Liquidity is bought not rented. Since CreatorTokens offer NFT, DAO, Banking related utilities they do have value since day one of launch especially to access Vault NFTs.
- Price of NFTs is pegged to certain number of tokens at the time of launch and stays same forever so scope of rise in NFT prise is only from rise in token price of CreatorToken
- Same number of tokens are minted every time an NFT is added to vault, these tokens are transferred to DAO contract and can be used for Airdrop, FLO, Grants for community [batch supported]
- Holder of CreatorTokens can redeem NFT and tokens worth NFT price will be burnt from his wallet [batch supported]
- Holder of CreatorTokens can return his redeemed NFT and tokens worth NFT price will be minted to his wallet [batch supported]
- 2 NFTs of a creator can be swapped for no fees [batch supported]
- Creator/Community can add Further Liquidity to Pair Contract by sale of CreatorTokens from DAO contract. Vault Contract hosts this sale.
- Vault can own millions of NFTs. There are no arrays storing Vault's NFT data about redeemed NFTs. Instead a simple mapping of vaultId to NFT Contract and vaultId to TokenId is used and to know whether an NFT is redeemed a simple ownerOf() function call for a given vaultId will help determine. This is done to avoid For Loops over large arrays which will run out of gas after few thousand NFTs. Hence avoiding scaling bottleneck.
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Creator Pair
- Constant Product based AMM for CreatorToken - BaseToken pair
- Swap between tokens
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Creator Vesting Vault
- Tokens allocated to creator at the start are vested over a period of time, 2 years by default with 3 months of cliff period during which the vested token count will be increasing just that creator cannot redeem them due to cliff.
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Creator DAO
- Token holders can make proposals
- Creator can choose managers and those managers will be given allowances. Using these allowances they can pay folks/employees, they hire, for specific task either on Pay Per Task basis or monthly salaries. Managers can transfer from their allowances to the employee's allowance value.
- 4 types of proposals
- Airdrops, before CreatorToken launch as it is, after launch with voting and approval
- Further LIquidity Offering (FLO) proposals to increase size of market to ensure greater liquidity in Pair contract
- Allowances Proposals to decide amount allocated per manager. Single proposal can handle multiple managers' allowances.
- General Proposal will contain link to their DAO Forum's proposal page where detailed discussions can take place. Results of these proposals will be acted upon by community members in good faith.
- Token holders can vote for each of the proposal
- Result of voting is based on number of CreatorTokens held by the voter. For first 3 cases only 2 choices, no or yes. For General Proposal any number of choices are allowed.
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Migration to V2
- Pair, DAO, Vault and Bank contracts contains Token and NFT assets which is transfered via Migration Contract to V2 version of Pair, DAO, Vault and Bank contracts
- Before migration of a Creator Community's assets, community members must vote for or against mirgration and migration contract will be made public much in advance. Voting is implemented in CreatorToken contract. This is done to ensure security of assets and decentralisation of decision making. This is important since in Kigzag Protocol liquidity isn't rented its owned.
- If voted no, then assets will stay in V1, current version, of Kigzag Protocol
- There can be 2 types of migration, partial and complete. In partial migration only one or two parts maybe updated like only Vault contract updated and hence needs asset transfer only for Vault's V2 version. In full migration all 4 contracts will be updated and maybe entire Factory and CreatorFactory may also be updated.
- Migration function in Pair, DAO, Vault and Bank are implemented with check on voting status passed and only after that migration contract, that has been voted, is allowed to transfer asset by deploying V2 version of the contract.
- Migration function also updates all dependent contracts with new address of V2 contract. For e.g. if Vault contract gets migrated to V2,then its dependent contract CreatorToken, CreatorNFT, CreatorDAO and CreatorFactory will get updated with V2 address of vault variable.
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Creator Bank (Not needed on day one, can be integrated after launch)
- Bank contract needs price data from CreatorToken to decide upon interest rates. Hence, Each creator can have different interest rates
- Community members, holders of CreatorToken can stake their CreatorTokens for some yield
- NFT Loans: Holder of NFTs from Creator Vault can use it as collateral for borrowing CreatorTokens, since we have price data of CreatorTokens and also price of single NFT is fixed w.r.t. to CreatorToken we can estimate realistic valuation of NFTs
- Flash Loans on Creator Tokens
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External Contract Functions
- 2 NFTs of different creator with same BaseTokens can be swapped with small fees
- If someone owns an NFT, you can buy it for premium by placing a bid (Auction smart contract will be placed separately)
- Base Token Pairs: Use a Curve kind of multi token pairs for BaseTokens for swap. This will help NFTs of creator that don't have same base token. Liquidity will be added by us using a small fraction of profit being earnt in BaseTokens. Swap in these pools will have no fees.
White paper & Docs for Kigzag Protocol is currently under development.
For tests please refer to README from test folder.
The primary license for Kigzag Contracts V1 is the Business Source License 1.1 (BUSL-1.1), see LICENSE.
- All files in
contracts/interfaces/are licensed underGPL-2.0-or-later(as indicated in their SPDX headers), seecontracts/interfaces/LICENSE - Several files in
contracts/libraries/are licensed underGPL-2.0-or-later(as indicated in their SPDX headers), seecontracts/libraries/LICENSE - All files in
contracts/testremain unlicensed.
At Kigzag, we consider the security of our systems a top priority. But even putting top priority status and maximum effort, there is still possibility that vulnerabilities can exist.
In case you discover a vulnerability, we would like to know about it immediately so we can take steps to address it as quickly as possible.
If you discover a vulnerability, please do the following:
E-mail your findings to xeldoradoprotocol@gmail.com;
Do not take advantage of the vulnerability or problem you have discovered;
Do not reveal the problem to others until it has been resolved;
Do not use attacks on physical security, social engineering, distributed denial of service, spam or applications of third parties; and
Do provide sufficient information to reproduce the problem, so we will be able to resolve it as quickly as possible. Complex vulnerabilities may require further explanation so we might ask you for additional information.
We will promise the following:
We will respond to your report within 3 business days with our evaluation of the report and an expected resolution date;
If you have followed the instructions above, we will not take any legal action against you in regard to the report;
We will handle your report with strict confidentiality, and not pass on your personal details to third parties without your permission;
If you so wish we will keep you informed of the progress towards resolving the problem;
In the public information concerning the problem reported, we will give your name as the discoverer of the problem (unless you desire otherwise); and
As a token of our gratitude for your assistance, we offer a reward for every report of a security problem that was not yet known to us. The amount of the reward will be determined based on the severity of the leak, the quality of the report and any additional assistance you provide.
- Currently,
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we won't be having any exchange token but the core contract has support for discounted fees based on the number of exchange tokens owned. This is done to ensure smooth future integration of exchange token next year after our protocol gains some traction.
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we haven't implemented the logic for creator's bank contract. There must be some buffer between Creator Token launch and starting of Bank to mitigate risk and establish real valuations for NFTs as well as Creator Tokens which is much needed for using them as collateral for lending borrowing. However The intigration will require only deploying of Bank contract by creator and updating creatorBank value in XeldoraroCreatorFactory contract.
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