What is MuseDAO? MuseDAO is a platform focused on building decentralized applications to scale the NFT space. Let’s find out what is special about this project with Weakhand in this article.
What is MuseDAO?
Overview of MuseDAO
MuseDAO is a platform focused on building decentralized applications to scale the NFT space. MuseDAO uses a DAO governance model that allows anyone to participate to publish and vote on updates to protocols across the MuseDAO ecosystem.
Projects in the MuseDAO ecosystem
Launch – platform developed by MuseDAO itself
Overview: Launch is an NFT minting platform where users can mint NFT collections and instantly transfer them to Sudoswap for trading.
Mechanism of action: Users can initialize the parameters of the NFT collection such as: Collection name, starting price, … and confirm to mint NFT on the Launch platform. The NFT collection is then transferred to Sudoswap for trading.
NFT20 – platform that encodes NFTs into ERC20 tokens
Overview: NFT20 is an exchange that allows swapping NFTs into corresponding ERC20 tokens, these tokens can be traded on Dex exchanges such as: Uniswap, Sushiswap.
Mechanism of action: Users can transfer NFTs in the wallet to the platform to swap into 100 corresponding ERC20 tokens. NFT20 takes a 5% fee on each transaction.
For example: Lina owns 1 Crypto Kitty NFT. She can send this NFT to the platform to Swap and receive 95 KITTY tokens (5 KITTY tokens are protocol fees). Lina can bring this KITTY token to trade on Uniswap and Sushiswap.
CUDL Game – An entertaining game about pets
Overview: CULD is a pet game developed on the Arbitrum platform.
Mechanism of action: To participate in the game, users need to purchase 1 NFT representing a pet. Players perform daily activities for pets such as feeding and drinking milk to increase the pet’s Level as well as receive rewards in the form of CUDL tokens (the platform’s main token).
There are also some other projects such as: ETHCMD – a platform for reading and writing to contracts on EVM-compatible blockchains, RolodETH – an open source code for Ethereum addresses that allows developers, researchers, and applications to quickly get metadata for a given address,…
What is the MuseDAO difference?
MuseDAO operates as a DAO model where everyone comes together to contribute, build and develop platforms within the ecosystem. Revenue from the platforms is transferred to MuseDAO. MuseDAO, in turn, will provide maximum support for projects to achieve the best development.
For example: MuseDAO supports increasing liquidity for ERC20 tokens when using MUSE tokens as Incentive for users when providing liquidity on Uniswap or Sushiswap,…
So who receives revenue from projects in the MuseDAO ecosystem?
These are the MUSE holders. They can Stake MUSE tokens to participate in governance and receive revenue from projects on the MuseDAO ecosystem.
Core Team
Muse DAO developed by Jules and Adam with the help of community members.
Investor
Update…
Tokenomics
Basic information about tokens
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Token Name: Muse DAO
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Ticker: MUSE
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Blockchain: Ethereum
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Contract: 0xb6ca7399b4f9ca56fc27cbff44f4d2e4eef1fc81
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Token Type: Governance
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Total Supply: 1,000,000 MUSE.
Token Allocation
Token Release
Team and Muse DAO are distributed linearly over 12 months.
Token Use Case
MUSE tokens are used for Staking participation in governance and earning rewards from the revenue of projects in the Muse DAO ecosystem.
Exchanges
FIL can be traded on both DEX and CEX exchanges such as Uniswap, Coinbase, Gate.io, …
Information Channel of MuseDAO Project
- Website: https://musedao.io/
- Twitter: https://twitter.com/NiftyMuseum
- Medium:
summary
MuseDAO was created to increase liquidity for NFTs and help more people gain access to NFTs. Above is all the information I want to share about MuseDAO, hope everyone has received useful knowledge.