Charged Particles allows users to easily deposit ERC-20 tokens (ANY tokens) into an NFT.
A scarce NFT (e.g. Art, Collectible, Virtual Real Estate, In-Game Item, etc.) can now be transformed into a basket holding a number of other tokens.
Started over a year ago, our goal with Charged Particles is that when viewing ANY Non-Fungible Token (NFT), the first thing you ask is “Does it have a CHARGE?”
Charged Particles is a new protocol layer, enabling a new world of NFTs.
For our public launch, we’ll also be releasing the first decentralized application (DApp) on top of the Charged Particles Protocol, focused on Art/Collectible NFTs.
Charged Particles DApp
Our initial DAapp is developed to be used with the growing crypto art market, with plans to rapidly expand with additional DApps covering more of the NFT space in the coming quarters..
Why CryptoArt? Well, CryptoArt is huge right now (and likely will get a LOT bigger), and we want to give Artists a tool to do more (dare we say, make more “interest-ing”) with their Crypto Art.
Our DApp allows users to Mint / Create a “Particle” (NFT) and then deposit the asset of their choice (energize) into this Particle and create their own “Charged Particles.”
In our v1 web application, we’re only supporting NFTs that are created using the Charged Particle Minting Station (“Particles”). We’re doing this to ensure safety for users on the platform.
Users can mint their own NFTs or choose to purchase & energize other Particles created by Charged Particles Users. If you’re interested in being one of the artists featured in the launch, please let us know in discord!
Particles can be energized with ANY ERC-20 token, but for yield — Aave’s aTokens will be the primary interest-bearing asset available the Charged Particle Protocol when we go live.
This changes the game for NFTs.
Yield-bearing aTokens with programmable charge is just one of the many assets that NFTs can hold. Have a number of speculative tokens or your own social tokens? Deposit any/all of them inside a scarce NFT — all possible.
Additionally, users can easily deposit tokens / assets into OTHER user’s NFTs. Your NFT now has its own wallet. Go wild.
Users can easily customize the configurations of their NFTs — Mechanics for your Charged Particles include:
- Time-Locks. Assets deposited into an NFT are unable to be withdrawn until a certain time period.
- Charge. If you deposit an asset that’s supported as an Aave aToken — it’s instantly swapped and you can determine how you would like to treat the interest. For example, this charge can be discharged to a different address — the NFT creator, a friend, a charity — your choice!
- Discharge (removing accrued interest) Configurations.
- Mass (Principle) Removal Configurations. Do you have to burn the NFT to remove the principle from the NFT?
The NFTs created via Charged Particles are still standard non-custodial NFTs that can be sold on popular marketplaces like Rariable or Opensea, but you’re enabling them to easily hold other ERC-20 tokens and have programmable interest.
Day 1: What is possible via Charged Particles within the NFT — Crypto Art / Collectible space?
This is what we’re focused on Day 1 enabled by the Charged Particles DApp.
- Artist Royalties. Bring in real artists — a way to monetize their art beyond their lifetime with the creator-royalties being part of an inheritable estate.
- Artist Differentiation. It’s a novel idea. A piece of rare crypto art that comes loaded with an intrinsic value that grows over time? Social tokens of the artist embedded into the artwork for increased speculative value.
- Financial-themed Art. Used for financial communities. Think of a beautifully designed 100 LINK Bill filled with 100 LINK worth of aLINK growing interest over time.
- Charity-Focused Art Sales. Portion of interest-generated (CHARGE) always pays out to charity (or any ETH address).
- Patreon-Style Donations. Fans can deposit tokens into an artist’s NFT. The artist’s NFT (pre-sale) can be accruing donations before being sold in the open market.
- Particle with link to Physical Art. Think about having a Particle that is linked to a physical artwork, generating charge internally, giving a percentage to charity/museum. The charity/museum element would be a much more interest-ing and accessible thing for someone non-crypto-native to appreciate the digital ‘core’ of the piece. Rather than just looking at a jpeg, they’re looking at a piece of functional technology that is generating good in the world while it sits on the wall.
Although we’re going to live with a product that’s more geared towards Art & Collectibles NFTs, there are a number of other fun possibilities that are available Day 1!
Here are a few we’ve thought of:
- Virtual Geocaching. Treasure hunts for hidden particles! When you find it you get to discharge the accrued interest and leave your name. The particle stays for the next person to find.. the longer it takes, the more accumulated interest (charge) to gain!
- Dapp Easter Egg Hunts. Easter eggs that reveal the hidden particle. With time-locks, there are loads of possibilities. We loved the MEME Rug Pull Auction, and this is very possible with Charged Particles.
- NFT Giveaways with Tokens inside. Loot Boxes, Treasure Chest NFTs. This has a massive potential. Think of a partnership with Roll Social Tokens. As users mint their own Social Token (e.g. “ARTIST Token”), they can easily create an NFT giveaway contest to engage the community — winning a scarce NFT filled with ARTIST tokens. Any speculative ERC20 token can be added.
- Transfer collections of tokens in a single transaction (ERC721 Transfer)
- Enable transferable liquidity pools (liquid liquidity pools?)
- VR escape rooms where keys and clues are hidden around the room inside NFT items.
- Create composite tokens backed by other tokens (Hedged Portfolios?)
- Create transferable funding baskets (Gitcoin Grants, Charities, Donations)
- Enable NFT-backed loans with time-locked assets and/or interest
- NFT-based Governance with the Charge used to determine vote-weight
- Combine Harvesting — Farm multiple protocols within a single NFT (Compound-based Assets, like cDAI, yield both COMP & ION, for example, joined via Uniswap for LP fees and potential multipliers for ION yield) — bundled as a single token allows transferring the entire Crop in a single ERC721 Transfer.
- Entertainment NFTs — a series of trading cards based on Celebrities who have social tokens, and the NFTs contain some amount of their token
NFTs can be filled with ANY ERC-20 tokens. Uniswap LP tokens, Social Tokens, Speculative Tokens, etc. An NFT with 0.022 UNI-V2, 0.052 UNI-V2, 100 aDAI, 2 WETH, 1000 ALEX….
Configurations on when/who/how the Mass (Principle) or Charge (Interest) can be reclaimed.
Configurations on where/when/how interest is discharged for NFTs with aTokens.
Ability for any user to easily deposit tokens into other users’ NFT.
These building blocks enabled by Charged Particles paired with the creativity we see in this space… We’re excited.
We’re always open for community feedback & would love to help support additional ideas If you have a great idea, reach out in Discord!
Charged Particles Protocol: Next Iterations
Shortly after launch, we’ll release all the documentation and tooling necessary for other teams to flex their creativity and build other DApps on top of the Charged Particles Protocol.
We don’t plan to stop with only NFTs associated with CryptoArt / Collectibles.
Yes, the NFT space is huge (and going to get bigger), but we want to add this functionality to ALL NFTs.
We’re focused on the initial use case (CryptoArt) with our first DApp and we’ll look to the community to continue generating great ideas here, but here are some fun ones that are possible with the Charged Particles Protocol:
- NFT — In-Game Items. Huge. There are 2.7 billion gamers out there, Charged Particles has the potential to eliminate the whole “Pay to Win” mechanic of game items. In many games, Legendary items are super powerful AND expensive, giving those who pay the most the best odds of winning. Charged Particles changes this mechanic, so that even a Common item can eventually build-up enough power to compete with Legendary items. This can help tilt the odds in favor of those who have held their items longest. Early adopters can earn more power than a late adopter with deep pockets. This new token mechanic can be utilized in various ways, such as increased Power or Experience Points, as a Talisman that grants a multiplier for various events, as a competitive prize to be won by battling with another player, etc.
- NFT — Virtual Real Estate. Land Tax. Imagine stuffing a Virtual Land NFT with principal — which is converted to an interest-generating asset (e.g. aDAI) that generates sufficient interest to cover your physical land tax each year.
- NFT — Tickets. Event-tickets that are redeemed at the event — the sooner you buy the ticket the more cash-back you get on the day of the event.
- NFT — Gift Cards. There’s a lot of potential here. 😉
- NFT — Financial. NFT Bonds. Imagine an NFT project wanting to raise funds via a bond. Having NFTs hold other assets and utilizing the NFT as escrow? All possible.
We have been a community-driven project from our start over a year ago and want to encourage the community to help build the DApps they think would take off. To further incentivize builders on the Charged Particles Protocol, we’ll launch our Grants Program later this year.
Want to integrate the ability to charge Swords in your game? You can use Charged Particles to enable this. Have an idea for an integration? Reach out in Discord!
Charged Particles: Get Involved
Charged Particles is going live in 1Q21 and we’re so excited.
We’ll announce the official dates soon. Right now we’re continuing to test the functionality and giving the application a beautiful new UI/UX!
Interested in getting involved? What are we looking for?
Artists for our go live event. All the information you need can be found here!
Community help is always appreciated! We’re always looking for help, and you can earn some CHARGE in the process. Specifically:
- Awareness — blog posts, tweet-storms Thunder cloud and rain, videos, reviews, etc.
- Connections — Prominent NFT Creators / Projects / Communities