NounShards

NounShards

Tokenize Your Noun for Greater Utility

The problem NounShards solves

Fractional Ownership:
Traditional ownership of Nouns is limited to a single entity. NounShards divides Nouns into up to 250 parts, making them accessible to a wider audience and enabling community members to own shares of valuable digital assets.

Community Engagement:
Limited interaction and engagement opportunities exist for Noun holders. Fractionalizing Nouns allows community members to collectively own and interact with the asset, fostering a stronger sense of community. These fNouns are Soul-Bound-Tokens, especially for Community Engagement like events and others.

Tokenization and Lending:
Noun holders may lack liquidity with their assets locked up. NounShards enables Noun holders to tokenize their assets, allowing them to borrow or lend against their Noun without selling it, providing greater financial flexibility.

Revenue Generation:
There are limited avenues for Noun holders to generate revenue. Fractional Noun tokens (fNouns) can be sold to other users, creating new financial opportunities and income streams from digital assets.

Fully On-Chain Operations:
Off-chain operations can be opaque and insecure. NounShards leverages Ethereum Attestation Service (EAS) and Coinbase on-chain verifications to ensure all transactions and operations are fully on-chain, enhancing transparency, security, and trust.

Secure Transactions:
Traditional methods of transferring ownership and verifying transactions can be slow and insecure. Using ERC721 and ERC1155 contracts along with on-chain verification services, NounShards ensures all transactions are secure, fast, and verifiable on the blockchain.

Unified Token IDs:
Managing multiple token IDs across different contracts can be confusing and error-prone. NounShards uses the same token IDs for tNoun and fNoun as the original Noun, simplifying asset management and ensuring a seamless user experience.

Benefits: Accessibility, Liquidity, Community Engagement, Security, Efficiency.

Challenges I ran into

Managing Multiple Token IDs:
Handling multiple token IDs across contracts was error-prone. I unified tNoun (ERC721) and fNoun (ERC1155) IDs with the original Noun IDs to simplify asset management and enhance user experience.

ERC1155 Limitations:
ERC1155 lacks an ownerOf function, complicating direct ownership tracking. I used enumerable sets with Noun IDs as keys to efficiently manage ownership data.

Using EAS for On-Chain Attestation:
Integrating EAS for on-chain attestation posed challenges in handling data accurately. Detailed verification steps and rigorous testing ensured secure and transparent operations during attestation.

EAS Integration and Approval Process:
Integrating EAS into contracts, especially for Noun holder approvals and minting tNouns, required meticulous planning. I defined and executed the approval and attestation process securely, automating data decoding and limit-setting.

Payout Management:
Ensuring secure distribution of payouts to users and owners was crucial. Robust checks in smart contracts guaranteed accurate and cautious execution of payouts.

Frontend Development:
Creating a basic frontend to demonstrate approval processes and fetching Noun images on a Next.js application presented challenges due to limited frontend skills.

Contract Interoperability:
Calling functions across different contracts seamlessly was difficult, especially when building a fully on-chain product. I focused on ensuring smooth contract interoperability between contracts.

Tracks Applied (2)

Coinbase Onchain Verifications

NounShards integrates Coinbase on-chain verifications to enhance trust and reliability within its ecosystem. By leveragi...Read More

Unplugged Track

NounShards is uniquely positioned to make a tangible impact both online and in real life through its innovative approach...Read More

UNPLUGGED with Nouns

Cheer Project

Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.

Discussion