​

RxDAI Group: NFTs

So for this new NFT project we have carved out, with NFTsDAO crafting a compelling use case, we're pushing the boundaries of NFT utility into a nascent space of "charged" NFTs.

Got to traction by the Charged Particle Project, "charged" NFTs simply offer a simple UI to send ERC20/721/1155's to an NFT. An NFT can go inside an NFT, Russian doll-style! For our purposes, however, it's just an ERC20 in an NFT.

So how does it work?

Quite simply, so you could explain it to a non-technical person:

- The NFT, we mint and the user buys, has cryptocurrencies linked to them.

* The cryptocurrencies stay time-locked on that NFT for 1 year

* You can buy and sell that NFT anytime you like

* At the end of the year the wallet asset owning that NFT will get a bid, from the xDAI DAO, for the value of the cryptocurrrency linked to the NFT.

We're starting with Doge, Stake, wETH, and wBTC, integrated with visually arresting, fun NFT images that designed to get attention, clicks, and bring further attention to xDAI and the xDAI DAO.

The real pitch here is that the major projects that are growing the most aggressively--FTX, Binance, Gemini, Compound, Aave, DyDx--offer a means to profit from the considerable volatility, the byproduct of the 101x leverage often easily accessible to traders. When people are operating at such high leverage points, they're less concerned about the fees involved and more about the small possibility of going 10x in a short period of time and are comfortable, through experience, of getting rekt in the process. The liquidation fees on FTX & Binance amounts to hundreds of millions, and they continue to climb because users are not particularly sensitive. As any salesperson can appreciate, what a brilliant industry to be in where your customers are not price sensitive if you can deliver the goods!

So, the way to get into this space is to do something innovative, new, and thoughtful. Companies that have embraced first-mover advantage have often historically boded well: Smart contracts with Ethereum, DEXes/Airdrops with Uniswap, and, of course, Satoshi Nakamoto with BTC. With these "charged" NFTs, there exists the real opportunity earn sustained, recurring royalties, as the explainer graphic goes to show, and benefit from the meme economy we're in so users on Twitter, Reddit, and all platforms can have a visual point of discussion rather than be directed to an emotionless whitepaper and intimidating Metamask chrome extension.

If you know that an asset will have $1000 in xDAI in a month's time then there's a real tangible way to profit, if property hedged. Even if it's $1000 in an expensive crypto to borrow in Balancer or Ampleforth, based on historical hourly funding rates, with 1/12 of a year even a 100% APR borrow rate would just necessitate that you pay 8% under the price to price to start earning an arbitrage profit, if you intend to hedge the forthcoming amount of X token.

These NFT can be traded on the secondary market as one sees fit. Each time it sells xDAI DAO earns a 10% royalty mint, even on the final sale a year from now when that bid comes in from the DAO. These fees add up, especially with the volatility we've seen in that six months, and while we may not get the 300 P/E valuation as a DAO that Coinbase did when they hit Wall St, the standard P/E for projects is routinely 100 , boding well for profitable blockchain efforts, especially those embracing innovative use cases. This type of valuation helps DAOs to take-on even more ambitious challenges.

In terms of fiat on-ramping, one of our RxDAI partners SD.tax, accepting RxDAI for tax returns, trust formation, and asset protection, has agreed to underwrite this endeavor with the one caveat that credit-card based payments for crypto are subject to a 6-month hold, held by xDAI DAO, to avoid a chargeback dispute after buying NFT with a linked token that tanks.

We have exhaustive internal risk tolerance , fraud, and due diligence provisions, along with our partners, to ensure the proper protections are taken to avoid financial cybercrime that's part of operating on the internet. The positives associated with having a fiat on-ramp is far more attractive than the possible downsides. When a problem is hard many projects call away with their analysis paralysis locking-up their decision making. This culls the competitive landscape in our favor.

The profits for this, and all forthcoming endeavors, will be distributed to RxDAI holders in proportion to their RxDAI stablecoin holdings. Rather than a token burn, we're just going to do a direct distribution of xDAI to these RxDAI wallets.

To purchase one of the NFTs listed on r/xDAI, simply do a modmail. Deposits will be to the xDAIDAO.com's AscendEX account, owned by the DAO, to hold the tokens. After purchase, either via crypto or SD.tax, follow-up via modmail--just sending a Reddit PM to /r/xDAI--and our dev team will coordinate the NFT minting or transfer to your choice wallet.

My advice to members of our sensational community:

1) HODL onto your airdrops.
2) Retweet these NFTs and, if you're bullish on a crypto--like Doge, buy a xDAI DAO Doge-linked NFT yourself!
3) Buy RxDAI and provide liquidity on Honeyswap or Swapr.
4) Follow u/xDAIDAO on Twitter
5) If you have free time, we're allocating DAO roles. We're already working with some long-standing r/xDAI well-regarded community members, earning RxDAI for their efforts to coordinate the growth of the DAO.
6) Check r/xDAI for more forthcoming use case pushes.