NFT is an optional component provided by DAOSquare Incubator for Venture DAOs that works with all modes of Venture DAOs (Vintage, Flex, Collective). It can help Venture DAOs issue certificates of participation representing their share of the investment to investors participating in each investment, such as Vesting eligibility for investors participating in SAFT investments. So that investors can receive their own tokens when Vesting is launched in the future.
DAOSquare Incubator provides two NFT Collections (ERC721) : DAOSquare Investment Vesting and DAOSquare Investment Receipt.
DAOSquare Investment Vesting | If a token-based investment using the Escrow component enables the NFT component, once the investment transaction is successful, all investors participating in the investment, as well as the receiving address for Governor Carry (if Governor Carry is set) and Scout (if Scout Carry is set), will be allocated an NFT that records their vesting rights and shares in the investment. The vesting rights will no longer be tied to the wallet address of the original investment beneficiary, but to the NFT. Once the NFT is transferred, the related rights it represents will also be transferred. |
DAOSquare Investment Receipt | If the NFT component is enabled for an investment that does not use the Escrow component, when the investment transaction is successful, all investors participating in the investment will be allocated an NFT that records their share of the investment. The vesting rights will not be tied to the address of the original investment beneficiary, but to the NFT. Once the NFT is transferred, the related rights it represents will also be transferred. |
See the NFT Collection section for a detailed description of the two NFT Collections.
Use Cases
The core business of DAOSquare Incubator is investing, and the primary use of the NFT functionality is to service investment allocation. The following are the most important use cases of the DAOSquare Investment Vesting NFT and DAOSquare Investment Receipt NFT.
Issue a Receipt NFT to investors participating in token-based investments that have not enabled Escrow. When the investee is ready to release Payback Tokens, this NFT can be used in the DAOSquare Incubator's Vesting App to quickly match the release list and shares. The release targets can autonomously claim Payback Tokens according to the Vesting Schedule set by the investee in the Vesting App.
NFT Collection | Use Case | Type | If Auto-Execute | Description |
DAOSquare Investment Vesting | Executable vesting for investments with Escrow | Beneficial | Yes | Issue Vesting NFTs to investors and other potential investment beneficiaries (Governors, Scout) participating in token-based investments with Escrow enabled, allowing them to autonomously claim Payback Tokens provided by the Investee according to the Vesting Schedule agreed upon in the investment proposal. |
DAOSquare Investment Receipt | Manual vesting for investments without Escrow | Beneficial | No, need manual execution | Issue Receipt NFTs to investors and other potential investment beneficiaries (Governors, Scout) participating in token-based investments that have not enabled Escrow. When the investee is ready to release Payback Tokens, this NFT can be used in the DAOSquare Incubator's Vesting App to quickly match the release list and shares. The release targets can autonomously claim Payback Tokens according to the Vesting Schedule set by the investee in the Vesting App. |
In addition to the above core uses, these NFTs in the two collection can also be used for a variety of purposes, just like common NFTs. Here are some of the relevant uses for DAOSquare Incubator.
NFT Collection | Use Case | Type | If Auto-Execute | Description |
Vesting & Receipt | Badge | Commemorative | No, need manual execution | Issue Receipt NFTs to investors and other potential investment beneficiaries (Governors, Scout) participating in the DAO investment to certify the participation in the investment. For investors, the NFT for this purpose reflects a kind of honor and investment performance. In future iterations of DAOSquare Incubator, this type of NFT will have more use cases, such as investor ratings, social sharing, and so on. |
Vesting & Receipt | Eligibility | Beneficial | No, need manual execution | Use the Vesting and Receipt NFTs to establish the necessary eligibility for certain roles and memberships. For example, if the requirement is to be a beneficiary in an investment, the person who receives a certain Receipt NFT can be eligible to be the Governor of a DAO (though Governor-In voting is required). |
Vesting & Receipt | Role/Membership | Beneficial | No, need manual execution | Give a Receipt NFT holder an identity in a DAO, community, and other social spaces like Discord and forums. |
Vesting & Receipt | Other Benefits | Beneficial | No, need manual execution | Use Receipt NFT to issue an NFT to an investor and other potential investment beneficiaries (Governors, Scout) participating in a DAO investment as proof of future benefits to investors and other potential investment beneficiaries (Governors, Scout). For example, exchanging NFT for DAO brand T-shirts, distributing airdrops to NFT holders, etc. |
How To Use It
Using the NFT component in an Investment Proposal is very simple, just turn on the NFT component when submitting an investment proposal, and after the investment proposal has been voted on and the transaction has been successfully executed, All investors who participate in the investment can receive the NFT on their own. Note, however:
- If you initiate a token-based investment proposal with Escrow enabled, the NFT will represent the vesting interest of the investor participating in the investment. Therefore, you need to pay attention to the Escrow and Vesting settings to meet the commitments of the invested project and the agreement with the investors.
- If you initiate a token-based investment proposal that does not enable Escrow, but you agree with the investors that you will start the Vesting Schedule to the investors at a certain time in the future, The NFT can then represent the investment shares of the investors who participated in the investment (the NFT records this data), so that the investor list and shares can be quickly matched when the invested project creates the Vesting using Vesting App on DAOSquare Incubator. You need to reach an agreement with the investors on the subsequent issuance of payback tokens or other rights off the chain.
See Escrow and Vesting for more details about Escrow and Vesting.
Transferable
The NFTs in collections of DAOSquare Investment Vesting and DAOSquare Investment Receipt are transferable, which means that Vesting's interest will not be tied to the address of the original investment beneficiary, but to the NFT. Once the NFT is transferred, the related interests it represents will also be transferred.
For example, the NFT (DAOSquare Investment Vesting) generated by an escrow-enabled token-based investment represents the Vesting interest of the investor, and if such NFT is transferred, the benefits represented by the NFT will also be transferred.
NFT Collection
In DAOSquare Incubator, all Venture DAOs generate the same NFT Collection provided by DAOSquare Incubator. If an investment proposal proposer (Scout) enables the NFT component and the investment successfully, the investment will be assigned a Token ID interval in the unified NFT Collection (the amount depends on the number of investors in the investment).
Due to the difference in the use of NFT in non-Escrow and Escrow investments, the DAOSquare Incubator offers two NFT collections for this purpose: DAOSquare Investment Vesting and DAOSquare Investment Receipt.
DAOSquare Investment Vesting
DAOSquare Investment Vesting collection serves investments with Escrow-enabled. When these kinds of investments enables the NFT component, the NFT component will call DAOSquare Investment Vesting collection to allocate NFT to related investment beneficiaries.
Collection Metadata
The metadata of the DAOSquare Investment Vesting collection includes the following sections:
Items | Value | Tips |
Name | DAOSquare Investment Vesting | |
Token Symbol | DIV | The token symbol is shown on the block explorer when others view your smart contract. |
Description | The NFTs in DAOSquare Investment Vesting Collection are generated from investments made by Venture DAOs in DAOSquare Incubator, which have used the Escrow function and activated the NFT function. Each NFT represents the right to claim Payback Tokens for an investment made by an investor. These tokens have been escrowed to the Escrow smart contract and will be automatically released to the NFT holder through the Vesting module of DAOSquare Incubator according to the Vesting Schedule in the smart contract. You can view the dynamic data (image) and properties information of each NFT to check whether the NFT is currently valid and the specific rights information. NFTs in this collection are transferable. NFT holders can use these NFTs to claim Payback Tokens through the DAOSquare Incubator's Vesting module, regardless of who the original investor is. | |
Image | Unified image provided by DAOSquare Incubator | |
External Link | https://daosquare.fi | |
Properties | Properties include the following uniform fields:
• Vesting Token Symbol
• Vesting Token Contract
• Remaining
• Total
• State
• Claim Start
• Interval | Properties is a dynamic database, where the data for each Item is different and updated in real time. |
Items
Items are the specific ERC721 Token in the NFT Collection. Each investment investor and other potential investment beneficiary (Governors, Scout) is assigned one NFT, so the number of items in this collection is the sum of the number of investors and other potential investment beneficiaries (Governors, Scout) for all investments that issue the investment vesting. For example, if project A and project B have 100 and 200 investors respectively, they will generate 100 and 200 items in the DAOSquare Investment Vesting Collection.
Each Item includes the following data:
Name | Vesting Token symbol. |
Description | The description entered in the Project Info part of the investment proposal. The link of the Investment proposal also be provided here. |
Image | A unified picture provided by DAOSquare Incubator that dynamically displays vesting data represented by this NFT. The following svg and table show the list of data shown in the NFT image. |
Properties | Properties displays the portion of Vesting Schedule data agreed upon in the investment proposal represented by this NFT. The following Properties table shows the list of data. |
The image displays the following data in the form of a dynamic SVG image.
Items | Description | Data Style |
Vesting Token symbol | The symbol of vesting token in the investment. | Non-dynamic data |
Remaining To Be Claimed | The number of vesting tokens represented by this NFT is currently claimable. Dynamic data, algorithm: Total - Claimed. | Dynamic data |
Total | The total number of Vesting tokens of the NFT represented. | Non-dynamic data |
State | The current state of the Vesting, a total of three states: Lockup, Releasing, End. | Dynamic data |
Claim Start | The Vesting can start collecting at the time, equal to the Cliff End Date. | Non-dynamic data |
Interval | Claiming intervals. | Non-dynamic data |
Surrounding Data A | The symbol and token address of the vesting token. | Non-dynamic data |
Surrounding Data B | DAOSquare Incubator Venture DAO Vesting | Fixed Data |
Properties (Traits in Opensea)
Items | Description |
Vesting Token Symbol | The symbol of the vesting token of the investment. |
Vesting Token Contract | The contract address of the vesting token of the investment. |
Remaining to be claimed | The number of vesting tokens that have not yet been claimed for this NFT, including current and future claimable tokens. |
Total | The total number of vesting tokens that the NFT(investment beneficiary) received in that investment. |
State | Vesting current status:
• Lockup: Before the Cliff End Date is Lockup.
• Releasing: After the Cliff End Date and before the Vesting End date is Releasing.
• End: Vesting End is when vesting all finish |
Interval | The vesting interval agreed upon in the investment. |
DAOSquare Investment Receipt
The DAOSquare Investment Receipt collection serves investments that are not Escrow enabled. When the NFT component is turned on by an Investment that is not Escrow enabled, the NFT component calls the DAOSquare Investment Receipt collection to allocate NFT to the relevant beneficiaries.
Collection Metadata
The metadata for DAOSquare Investment Receipt consists of the following sections:
Items | Value | Tips |
Name | DAOSquare Investment Receipt | |
Token Symbol | DIR | The token symbol is shown on the block explorer when others view your smart contract. |
Description | The NFTs in the DAOSquare Investment Receipt Collection are generated from investments made by Venture DAOs in the DAOSquare Incubator, which activated the NFT function WITHOUT using the Escrow Function. Each NFT represents an investor’s investment record of investing in a Project through a DAO in DAOSquare Incubator, like a receipt. You can view the dynamic data (image) and properties information of each NFT to check whether the NFT is currently valid and the investment records. The Project or DAO may promise to give benefits to NFT holders, regardless of the original investor. NFTs in this collection are transferable. The fulfillment of any promise based on the NFT depends on the promiser (Project or DAO), which the NFT itself cannot guarantee technically. | |
Image | Unified picture provided by DAOSquare Incubator | |
external_link | https://daosquare.fi | |
Properties | Properties include the following uniform fields:
• Project Name
• Investment Currency
• Investor Invested
• % of Total
• Total Invested
• Investment Hash | Properties is a dynamic database, where the data for each Item is different and updated in real time. |
Items
Items are the specific ERC721 Token in the NFT Collection. Each investment investor and other potential investment beneficiary (Governors, Scout) is assigned one NFT, so the number of items in this Collection is the sum of the number of investors and other potential investment beneficiaries (Governors, Scout) for all investments that issue the Investment Receipt. For example, if project A and project B have 100 and 200 investors respectively, they will generate 100 and 200 items in the DAOSquare Investment Receipt Collection.
Each Item contains the following data:
Name | Description |
Name | Name displays the first 10 characters of the investment project name. The Investment Project Name is taken from the project name in the investment proposal. If the proposal does not provide a project name, Anonymous is displayed. |
Description | The description entered in the Project Info part of the investment proposal. The link of the Investment proposal also be provided here. |
Image | A unified picture provided by DAOSquare Incubator that dynamically displays investment data represented by this NFT. The following svg and table show the list of data shown in the NFT image. |
Properties | Properties display the invested project name, amount and share agreed upon in the investment proposal represented by this NFT. The following Properties table shows the list of data. |
The image displays the following data in the form of a dynamic SVG image.
Items | Description | Data Style |
Invest token symbol | The currency in which the investor invests in the investment. | Non-dynamic data |
Investor Invested | The investment amount represented by the NFT. | Non-dynamic data |
Total Invested | The total amount of the investment. (The amount of the DAO paid to the Investee, not including the fees. | Non-dynamic data |
% Of Total | The proportion of the investor's funds in the total investment of the DAO is calculated by dividing the investor's investment amount by the total amount of the investment. | Non-dynamic data |
Project Name | The project name of the investment. | Non-dynamic data |
Surrounding Data A | Investment Hash, the hash address of the investment, that is, the transaction hash that the investment proposal finally executes. | Non-dynamic data |
Surrounding Data B | DAOSquare Incubator Venture DAO Receipt | Fixed data |
Properties (Traits in Opensea)
Items | Description |
Project Name | The Project Name of the investment in proposal. |
Investment Currency | The investment currency Symbol of the investment. |
Investor Invested | The amount invested by the investor in this investment. |
Total Invested | The total amount of the investment. (The amount of the DAO paid to the Investee, not including the fees. |
Investment Hash | The hash address of the final execution (execute) of the investment. |
View NFT
NFT holders can view the NFT in the following places:
- Vesting module of DAOSquare Incubator
- Wallet (depending on wallet support for NFT functionality as well as network)
- Opensea
Matters Needing Attention
The NFT is used at the discretion of the submitter of an investment proposal, so the submitter or the group (DAO, community, institution, project) represented by the submitter has the right and obligation to clearly define its use and make it public to all participants.
The NFT component provided by DAOSquare Incubator does NOT ensure the commitment of the investment proposer (scout) or the group (DAO, community, institution, project) that the investment proposer represents to the investors. The fulfillment of the interest depends on the scout or the group (DAO, community, institution, project) represented by the scout. However, if you encounter such problems, DAOSquare will do its best to help.
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