Introducing a new approach to token rewards that allows DAOs and token teams to give tokens to core members while having better control on when tokens enter liquid markets. Learn more on our DISCORD.
First, an incredibly important shout out to DAO HAUS. The Hedgey NFT protocol was designed to be used primarily for DAO treasury diversification in combination with our public OTC deal offering protocol to create public, time-locked token sales. It is only because of the innovation, exploration, and collaborative nature of DAO HAUS that this concept came to fruition. So — big shout out to DAO HAUS, Ceresbzns, and Spencer. If you’re not in that ecosystem you’re NGMI.
To learn more about DAO HAUS or see the first proposal passed to implement Hedgey in rewarding 17 DAO HAUS contributors with 1 year time locked tokens, click here.
What are Contributor reward NFTs?
Contributor Reward NFTs are a vehicle that DAOs and token teams can use to give contributors a specific amount of tokens, locked for a pre-determined period of time, which can be accessed anytime after the unlock period by redeeming an NFT (example shown above).
How does it work?
When a DAO or token team wants to create contributor rewards, they are able to send tokens to the Hedgey NFT protocol and define a lock period and recipient of those tokens. In locking the tokens, the Hedgey NFT protocol simultaneously mints a unique NFT which acts as the sole access key to those locked tokens. Once the unlock period expires, whoever holds the NFT can send the NFT back to the Hedgey (burning it) to redeem for locked tokens.
Example: Spencer from DAO HAUS wants to reward 30 DAO contributors a set amount of tokens for helping out over the month. In a twist of events, the DAO contributors all agree that they would lock their tokens for a year to get a small multiplier in return. Using Hedgey NFT protocol, Fencer decides to reward each contributor a unique amount of tokens, locked for a year. In locking the tokens, each contributor is automatically minted a unique Hedgey NFT directly to their wallet with custom SAO HAUS skins. In one year (or anytime after) the recipients can send the NFTs back to the Hedgey protocol, redeeming for their HAUS.*DAO HAUS did this using a direct batch minting function directly with the Hedgey protocol on their own governance proposal execution interface (which is amazing btw).
About the NFTs
The NFTs are Hedgey centric at their core with the ability for Hedgey to create custom folders of art for DAOs and token teams on a project-to-project basis (not endorsements and at no cost). For DAO HAUs, we added unique skins with the DAO HAUS logo. Additionally, the token, amount locked, and unlock date for each NFT is displayed directly on the NFT metadata and viewable on any NFT marketplace.
Want to lock tokens in an NFT?
TRY IT AT: https://app.hedgey.finance/#/portfolio (click Mint Vest NFT)
Lock tokens in an NFT and send them to anyone (even yourself)
Or ask how to get started on our Discord.