NFT platform Auctionity to expand DRT usage, adopt fiat payments
DomRaider’s DRT can now be staked on Uniswap; will be used by NFT
pioneer Auctionity as governance token.
One of the
earliest adopters of NFTs, Auctionity has offered crypto enthusiasts a 100%
blockchain-based NFT auction platform since 2017, made possible through
implementation of the DomRaider network. Auctionity helped to forge a method
for the convenient sale of NFTs in 2018 by building an innovative and secure
auction protocol; a model which has been validated via scientific publication.
Today marks a new milestone for Auctionity as it implements staking for the
DomRaider Token (DRT). In anticipation of the project’s launch, a liquidity
incentive program begins right now and will last one month. To this end, 3
million DRTs are being distributed to DRT/ETH liquidity providers (more
details). The new developments mean that token holders can now stake
DRTs on Uniswap and be rewarded for providing liquidity to DRT swaps.
Auctionity
also announced it has plans to use DRT as a governance token, giving the community
the right to vote on how the project should evolve. Staked DRT will also be
used to determine the distribution of NFT sales commissions earned on the
platform.
Mass market testing to onboard non-crypto users is underway
Auctionity’s R&D and marketing teams have been working on a series of tests to open the platform to the general public. This includes appealing to non-crypto users by giving anyone the ability to purchase NFTs in fiat currencies. The objective of the tests was to determine the level of interest in purchasing NFTs coming from users unfamiliar with cryptocurrency or blockchain technology.
Initially, testing had demonstrated an existing but underwhelming potential. In
2021, however, the NFT market has exploded, thanks to Elon Musk and other
celebrities who have helped bring appeal to the development. The meteoric rise
of NFT adoption, along with Ethereum network gas fees, spurred Auctionity to
focus on developing as simple a user experience as possible, with no ETH wallet
necessary.
With a new,
fiat-friendly payment system in place, Auctionity believes 2021 will be the
year they did for NFTs what Coinbase did for Bitcoin and other cryptos, by
introducing a worldwide audience to NFTs in their local currency.
Auctionity will offer option to buy NFTs in €, $, ¥
By removing barriers related to cryptocurrency usage, such as the complexities
of wallet management and signing transactions, Auctionity believes the world of
NFTs can be made accessible to everyone. To this end, they will offer the
option to buy NFTs using one of three fiat currencies, including the euro, U.S.
dollar, and Japanese yen.
Auctionity is also working on other ways to improve its platform, including a new smart contract and sidechain iteration that will bring them more speed and accessibility, as well as a greater degree of compatibility with new NFTs.
Abstract:Auctions are widely used to sell products between different users. Inthis paper, we present Auctionity, an English e-auction based on blockchain. Wedescribe the different protocols used in Auctionity. We also define the securitymodels and the associated properties.We formally prove some security propertiesof this protocol using ProVerif.Keywords: Blockchain, Security, E-auction, ProVerif
تعليقات
إرسال تعليق