🎟️About the NFT PASS
DAO BASE platform offers three types of NFT PASSes: Staking Based PASS, Fixed Price PASS, and Bonding Curve PASS. The NFT PASS is a Utility NFT and acts as a Proof of Passion (POP), serving as a ticket or key to access a creator's squad or DAO.
Bonding Curve PASS
Bonding Curve PASS (BC) is a type of NFT PASS that mixes speculation and DAO utility.
Bonding Curve PASS Supply and Algorism
Generally speaking, the more supply, the higher the price based on the formula will go. In other words, when people buy a creator’s NFT PASSes, the price of the NFT shall go up automatically at a certain rate.
There are two types of Bonding Curve PASSes targeting all users: “Basic” and “Advanced”. Those two all comply to the same formula as following:
f(x)=PASS Price
v = Initial Price-m
m and n are variables
In the basic version, we have set m=0.00002, n=2 to cater to the demands of the majority without needing creators to understand the algorithm but only by inserting the initial price they wanna start the sale with.
However, for the Advanced version, we leave the variables “m”, “n” open to achieve more flexibility and customized design for professional users.
Below are the graphs of what the PASS price curve looks like with the accumulation of the supply in circulation. If you wanna check more data and have a clearer comprehension on this, feel free to check this sheet or learn more about bonding curves here.
Basic:
Advanced:
The Bonding Curve Vault
The higher number of purchases of the NFT PASSe will mean that more funds will be “locked” on the bonding curve which provides the sufficient liquidity for the traders, lifting the pressure for creators or DAO operators ( with automated market-maker) .
Meanwhile, in order to maximize the benefits for all, The PASS will shift some of the funds to DeFi platforms like Compound, AAVE to achieve passive income for creators among multi-chain ecosystems. In this way, creators can both enjoy the revenue of the PASSes and the yields from the Bonding Curve Vault.
Fixed Price PASS
Fixed Price PASS is a pretty standard and normal form of NFT trading, that is, the newly issued NFT PASS is being auctioned at a fixed price.
Staking Token PASS
Staking Token PASS can be divided into two parts: ERC20 token staked NFT PASS and ERC721 token staked NFT PASS. As the names suggest, the NFT PASS is either minted by staking ERC20 token or by staking ERC721 token (NFTs).
Creator / DAO Rewards:
Creator’s rewards vary with different types of PASS issuance. For fixed price , the platform will take 2% as commission fee while the rest 98% will go right straight to the creator's address. As for Bonding Curve, creators can get a range of 0~20% percentage of the Initial Sell. For example, if the creator sets the fee as 10% and then if someone buys $100 of the PASS, the creator can get $10. As for Staking Token PASS, it focuses more on utilizing the existing ERC20 tokens and NFTs than the concept of selling.
| Initial Sell | The Vault | |
|---|---|---|
Bonding Curve PASS | Up to 20% | ☑️ |
Fixed Price PASS | 98% | ❌ |
Staking Token PASS | 0% | TBD |
What Can We Do with NFT PASSes?
thepass.to/ VIP channels
The NFT PASSes help the DAO community or creators to set up exclusive VIP access for important contributors or volunteers. Priority and customized services can be provided to PASS holders in VIP channels no matter in Web3.0 network like Decentraland, The Sandbox Townhall, Squad or Web2.0 network like Discord, Telegram, etc.
thepass.to/ premium content
The NFT PASSes allow KOLs or creators to provide premium content only to community PASS holders. Content creators can use The PASS to better differentiate their user base, thus unleashing their creativity and generating better revenue.
thepass.to/ virtual concert or meetings
Imagining a virtual concert or meeting to be held online, The NFT PASSes will serve as the native web3 ticket to this virtual event. Communities or creators can easily and seamlessly use PASS to set up access to virtual events online.
thepass.to/ die-hard fans proof
Creators can give long-time loyal users a special customized PASS as die-hard fans proof.
thepass.to/ metaverse
The PASS platform will be pre-interfaced with those major metaverse (like Decentraland, The Sandbox,etc.), so communities or creators can easily and seamlessly use PASS to set up access to virtual lands or events in the metaverse.
thepass.to/ NFT governance
The PASS is the first platform focused on helping the DAO community issue NFT based governance tokens. Compared to the fungible token, NFT PASS offers an alternative way to achieve community-driven, decentralized, and flexible governance.
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