This document proposes to the zerozero DAO that they list 3 new creator tokens on the zerozero DEX to help the zerozero ecosystem grow by adding new pairs to the zerozero DEX bringing the total number of pairs to 11.
The zerozero DEX is a set of smart contracts forked from the Uniswap V2 architecture that allows anyone to buy and sell creator tokens.
The zerozero DAO acts as an administrator for the zerozero DEX. The various aspects of the DEX are governed by the DAO and can be managed via votes from the zerozero community.
The 3 creator tokens proposed to be listed on the zerozero DEX are :
- $ISH, the token of Canadian producer/DJ and environmental activist BLOND:ISH
- $CULTURED, the token of the print magazine CULTURED
- $EHTAGA, the token of Paris-based designer, DJ, and model Agathe Mougin
This is a proposal to create a secondary market for 3 additional creator tokens.
Creator tokens are earned for free in a number of ways on p00ls, which constitutes the primary source of supply in the market. For community members looking to acquire tokens outside of such events earning events, or that want to get rid of their tokens, they can do so via the zerozero DEX if their creator tokens are listed on it.
The zerozero DEX facilitates transactions on creator tokens in an automated fashion and allows creator tokens to become liquid and viable currencies of their respective ecosystems.
Adding 3 new creator tokens to the zerozero DEX further develops the utility of this tool and will help foster an active zerozero ecosystem.
The zerozero ecosystem is composed of many elements including creators, creator communities, the zerozero DAO, the zerozero DEX, etc. These communities are united through the relevant creator token but are not fixed: they can grow and diminish for any number of reasons.
One of the tools in the ecosystem is the zerozero DEX, it allows for community members to increase or decrease their balance of tokens.
Every creator token is not yet listed on the zerozero DEX and the more creator tokens get listed on the zerozero DEX, the bigger the zerozero ecosystem gets as more and more communities start using the ecosystem tools.
The zerozero DEX is an automated market-maker forked from the Uniswap V2 infrastructure, the gold standard for automated market making in DeFi. Creator tokens in the form of ERC-20 tokens can be listed on the zerozero DEX to be traded against the $00 token.
In order to list any creator token on the zerozero DEX, an auction is hosted. This process works as follows :
- A set amount of creator tokens is allocated to the initial auction
- Half of this amount is auctioned during a fixed amount of time
- The proceeds of the auction are paired with the remaining half of the creator token amount
- A liquidity pool is created on the zerozero DEX with both of these tokens
There will be only $00/$CREA liquidity pools on the zerozero DEX at first, meaning funds will be raised in $00 during the auction of creator token.
Once the token is listed on the zerozero DEX, the price for a given creator token will be determined directly by the liquidity in its pool through the constant product formula.
If x is the supply of creator token ($CREA) in the pool and y is the supply of the paired token ($00) in the pool, the price of the creator token in $00 is given as the quotient of y and x.
These liquidity pools will allow anyone to swap in and out of any creator token to join their selected communities and gain access to the creator’s world.
More information about the zerozero DEX can be found here.
In order to list these 3 additional creator tokens on the zerozero DEX, the following 3 pairs would be created :
- $ISH, the token of BLOND:ISH paired with $00 : $ISH/ $00
- $CULTURED, the token of print magazine CULTURED paired with $00 : $CULTURED/ $00
- $EHTAGA, the token of Agathe Mougin paired with $00 : $EHTAGA / $00
Launch the 3 creator token auctions.
Solution prepared and ready to be ratified.
No cost to implement