Automated NFT marketplace using yield startergy and yield farming
1). Automatic InstCryp-POD The pod is created by admin with predefined time and users come to pod and deposit tokens to pod and it will earn interest on all users crypto tokens from lending protocols. Users come to the platform Initially and deposit the DAI or USDC token in POD and as a credit, a user will get stablecoin backed participant NFTs. The pod will deposit all tokens on lending protocols to earn interest and when predefined time completes then the chainlink alarm clock verifies and stops all operation of the pod and declare the winner automatically using chainlink-VRF among all participants. The pod will create an Interest-NFT as a winning prize which is backed by generated interest and send to POD-Winner. 2). NFT Yield-Farming Time with PiggyBank Whatever NFTs generate in InstCryp-POD smart contract transfer all the participant and Interest NFTs to PiggyBank. PiggyBank is the yield -farming protocol like sushiswap. where platform deposits your all NFTs on PiggyBank and generates piggy Token backed NFTs as a reward. Even if someone doesn't win the prize pool, they could collect the participation NFTs and then when they amass a certain number (say 10), they could earn piggy token-backed NFTs on the platform. Even Interest-NFTs can also use for further to earn reward piggy-NFTs using PiggyBank. Why NFTs? a). Every NFTs will be backed by different amounts of stablecoin tokens. b). By the collection of NFTs, the platform can measure the user's engagement with the platform. c). By user's measurement, the platform can maintain future reward distribution plans. Governance To change in protocol we will use a compound-governance smart contract that is used to decide the change in any strategy protocol(like Winning strategy, yield strategy, farming strategy, blocks per reward strategy, etc.).
How it's made
I have first used different lending protocols. Used Chainlink Alarm clock also. After analyzing the chainlink alarm clock, I noticed I can call anything in the callback of the chainlink alarm clock. So, I decided to make automate the whole process. And I integrate all things. After I integrate all things, I discussed with compound team members and bionomy team members. They gave me good suggestions that how can I make this project on the business side for extra yield on the collection of many NFTs. So, I decided to make a portfolio where the user can save his NFTs, and piggybank contracts can use that NFTs. So, all the participant incentivizes with the extra piggy token. So, I developed a PiggyBank contract of yield farming for NFTs like sushiswap(it works for erc20). So, now its fully worked and deployed on Kovan and will go for audited first then Mainnet:)Technologies used