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YaNFT

We do almost everything other platforms do. But BETTER ;)

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Last updated: 03 April 2022 05:35 PM

Created project

The problem YaNFT solves

YaNFT has the following applications :

YaMINT : Deploy NFT Contracts with ease and significant reduction in gas fees upto 7x times compared to leading platforms like manifold , nifty kit etc.
Gas fees remains an unaddressed problem while deployment of NFT Contracts which might even have Gas fees equivalent or greater than the value of NFT to be minted due to the traffic on ethereum chain. YaMINT can be deployed on any EVM Compatible blockchain like Polygon for deploying contracts. It provides a truly decentralized solution to deploy NFT Contracts without being associated with any centralized entity like OpenSea. With the popularity of OpenSea in mind, it has been developed with standardized NFT metadata which can be used in compatibility with OpenSea for auctioning the NFTs if the creator needs to. For every new erc 721 contract deployment , $5 worth eth (conversion using chainlink) is charged as service fee in which $4 proceeds towards the YaCommunity Fund and $1 towards the owner of the platform.

YaDAO : NFTs minted by the contracts deployed by YaMINT can be locked on YaDAO for voting power in the form of YaETH. Once an NFT is locked , it has a minimum lock-in period of 7 days but for the purpose of demo this has been changed to a minute. YaETH received is equivalent to the mint price of the NFT. The $4 proceedings from YaMINT(in the form of eth) gets accumulated as YaCommmunity fund which will be used by YaDAO to fund various proposals. Any person owning YaETH can create a proposal on the platform while anyone owning YaETH can vote among these various proposals and after consensus reaches more than 50% , then as the owner of YaNFT Platform we can execute the proposal and send the respective community fund to the proposal address.(lazy consensus)

YaPOAP : We offer proof of attendance protocol NFTs to be minted using YaMINT. Can be used for trivial events like birthday party or even signature events like Eth DUBAI due to low gas deployment fee using YaMINT

Challenges we ran into

1 . React framework is new to us and we were facing some issues to load graph data using load useEffects()

  1. Deployment on spheron was a bit tricky as the routes were not loading

  2. Lot of effort was required to research and reduce gas fees for deployment but we were able to find a solution to do so

  3. Generic frontend issues regarding css and js

Tech that we used :

Alchemy- For deploying the YaNFT Contracts , Alchemy rpcs were used.
Metamask- Used for transaction signing
Filecoin- Used for NFT Storage (integrated with nft.storage) for YaPOAP
Spheron- Used for deploying frontend with filecoin protocol
Chainlink- Used as oracle for conversion USD to Eth on chain during transaction
The Graph- Used for indexing the data in YaNFT and displaying the contracts deployed using YaMINT , Voting power of NFT Owners on YaDAO and Proposals created by users for YaDAO
Polygon- Deployed contracts to polygon as main chain
React- Used for frontend development
Truffle- Used for development and deploying of smart contracts

Discussion