Two Projects to Watch This Month on Near Protocol
Its been very busy in the crypto-verse over the last few weeks, the influx of new NFT marketplaces and Defi protocols have resulted in rising gas prices on Ethereum. This has sparked great speculation over what will be the next layer-2 solution. Near protocol is center stage, and this post will introduce two promising new projects in the Near ecosystem.
The problem
Controversy exists in the cryptocurrency space around the private sale of tokens to VC firms and crypto influencers. These tokens are usually acquired for a significant discount during the private sale, giving participants a significant opportunity for profit if they sell shortly after the token launches to retail traders. This often results in a price dump in the underlying token and the crypto community has started to notice.
Skyward Finance
Skyward finance is the first native launchpad on the Near protocol. The Skyward platform enables new projects building on Near to raise capital and offer early access to token sales. Primary features of the Skyward launchpad include its ‘resistance to bot and sybil attacks’, all while facilitating fair and decentralized token sales which largely address the issues presented above.
Skyward Finance recently completed its testnet round, enabling early users to experience the platform firsthand. I had the privilege of being a part of the testing and found the platform to work seamlessly. Users who participated in the testing are able to transfer any tokens earned through their test net Near wallet to their mainnet Near wallet. Instructions on how to claim test tokens can be found here.
On June 24 Skyward launched on the Near Mainnet, the contract for Skyward can be found here. The Skyward finance contract owns 90% of all tokens at launch, the other 10% is locked into various lockup contracts for early adopters, testers, and expanding the ecosystem. The skyward treasury, which is part of the skyward contract, keeps the proceeds of all $wNear used to purchase $Skyward, and takes a 1 % commission from every other sale. The Skyward token represents ownership of the treasury, users who own skyward are able to burn the skyward token and claim a share of the treasury at a 1:1 ratio. This is a healthy mechanism as it ensures the skyward token should hold some future value. The initial token sale for Skyward started on July 1st and lasts for a week. There will be further sales of Skyward every month from July until December 2021.
Skyward aims to make token launches fair, decentralized, and resistant to Sybil attacks. Skyward achieves this through its token sale mechanism called ‘streaming time-based auctions’. Effectively, all tokens launching on Skyward’s platform will follow the same sale structured timeline as the original Skyward token. New Tokens will release in 6 waves, each lasting one week at a time. The sale mechanism is naturally resistant to pump and dump schemes and ensures that ALL participants are able to purchase tokens at a fair and reasonable price.
Skyward:
- @SkywardFinance on Twitter
- Skyward Finance on Github
- Skyward Flight community on Telegram
HipHop Heads
The Nft market has been heating up over the last 12 months, and with it have come some very unique art collections. Hip hop heads are the newest NFT collection on the block in the Near ecosystem. The collaborative art series features the works of the celebrated artist André LeRoy Davis. Each illustration exists as a collection of 47, representing the 47 years of the hip-hop era!
A hip-hop head is named based on its place in the 47-year timeline, each featuring a portrait of the various lyrical geniuses who cemented their place in Hip Hop history. The first card of each series will be donated to reside in the Universal Hip Hop’s museum of crypto art to live on throughout history.
Having grown up during the hip-hop era I am a massive fan of this initiative. Personally, I'll be keeping a close eye on the Notorious BIG series. To participate in the auction you will need to get yourself a Near Wallet and a credit card to purchase the NFT. Want to check out all the NFT’s currently on offer? Go and explore the Hip Hop Heads at nft.hiphop before the Auction ends on July 27th!
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