USDBark
A stablecoin that uses NFTs as collateral. NFT owners have their stuck in NFTs they have barked into, we allow them to dig out their bones and use them again to get more treasures (NFTs) to burry in the ground.
Grant Amount Requested (USD & DOG amounts w/ breakdown) – USD+DOG totalling $600k (can be received in installments)
Meet the Team
Maybe You? I’m a dinosaur learning to be a dog.
Plan
Stablecoin development timeline would be greatly decreased by using Reserve Protocol. The primary need for development is to create collateral plugins showing the average floor of the NFT being used as collateral. Dogs, Apes, Frogs and more could be used as NFT collateral. This could show an ecosystem approach with Doge being at the heart of the ecosystem. DIA Data has oracles for many NFT collections.
Revenue for stablecoin creators using a reserve protocol can come from multiple sources. Transaction fees include charges for minting and redeeming stablecoins and small fees on each transaction. Interest on reserves is earned by investing collateral in interest-bearing assets or lending out collateral to earn interest. Staking and governance rewards involve taking a percentage of staking rewards and issuing governance tokens that can appreciate in value. Arbitrage opportunities arise from market making and reserve arbitrage, leveraging price fluctuations in collateral. Partnerships and integrations generate revenue through listing fees and integration fees from DeFi protocols and financial services. Premium services include subscription fees for premium accounts and bespoke solutions for enterprises. Finally, token appreciation of the protocol’s native tokens can significantly enhance revenue, tying into governance, transaction fees, and staking rewards.
A percent of the stablecoin protocol treasury would be held in Dog.
Budget and Revenue Estimations
Contact Info: Terexitarius