Usuario:Juan Cruz Teran Nougues/Taller

Tamago Finance ​ is a decentralized synthetic instrument that enables users to gain exposure to any financial market without any friction or intermediary.

Tamago Finance

Creating DeFi elements for NFT-centric environments

In the virtual world, there are endless possibilities. People are changing their lives with NFTs, people are able to find work through play-to-earn games, artists are being appreciated, and there's just so much more. We are just at the tip of the iceberg. This is the metaverse. It is just getting started and is going to change the world. Tamago Finance is a platform with the ability to generate an illiquid financial asset in the form of ERC-1155 NFT on any EVM-compatible chain. The protocol can generate currencies, commodities, and digital assets to strengthen infrastructure facilities on NFT-centric environments and cross-chain NFT asset bridges.

Tamago Finance is currently on Polygon with following products/components: Value-backed NFT - An algorithmic synthetic asset that represents the specific amount of underlying asset such as USD, to mint NFT, offset fees and discount will be given dynamically from the bonding curve to help stabilize the value of collateral reserves against outstanding NFTs . NFT Luckbox - The first use case of value-backed NFTs. It is an NFT lottery embedded in our UI that allows anyone to create a "Luckbox" where creators can deposit a maximum of 9 NFTs. Players can draw from the LuckBox to try and win the NFTs that were deposited.

Tamago Finance is at the early stage of development. If you have any questions or inquiry, please do not hesitate to contact us via Telegram or Discord.

Valued-backed NFT

Aka. Synthetic NFT

The value-backed NFT is an algorithmic NFT that has a value attached to it and can be minted to everyone by locking a certain amount of collateral tokens in a reserve pool and will be re-invested in other DeFi platform to earning yield or either stay idle, each represents the specific amount of currencies, commodities and digital assets aims to solve the illiquid problem of traditional NFT. The protocol combines two mature approaches from DeFi, the synthetic asset issuance (Synthetix, UMA) and non-liquidation loan (Frax Finance) into the NFT first methodology ensures stability and resilience are met for the needed of being financial assets and recognized by different communities within crypto space and beyond.

Stability Mechanism

NFT can be minted and redeemed as its price tag when the collateral ratio is equal to 100%, however it's unlikely that the ratio will be maintained at 100% all the time due to volatility of collateral token prices. We propose the mechanism to dynamically adjust the collateral level to be used during mint and redeem actions to help the ratio pegged at closer to 100%, at the beginning, users can create new NFT in debt form by depositing collateral assets into the smart contract and if the value of underlying collateral lower than the 100%, the redeemer have to send out a portion of collateral to be remained on the smart contract in order to adjust the ratio gradually shift back to 100%, the discount will be given when the ratio is higher than 100% with the same purpose.

The given formula is used to calculate the offset fee and the discount that will be applied when: x = Current Collateral Ratio, y = Target Collateral Ratio b = Logarithm base, k = Constant, vary by the volatility When minting and redeeming occurs on the protocol, the target ratio has been calculated according to the current ratio at that time and constants defined by the team.

NFT Luckbox 🎲

The NFT Gachapon powered by Chainlink VRF

NFT Luckbox is the NFT lottery project which is the first use case of the value-backed NFT as well as it can be a good tool for NFT creators to distribute their products, the user can be divided into 2 groups of: Users - The drawer who willing to pay a ticket to draw the Gachapon contract that made and maintained by its owner. Owners - The owner of the Gachapon contract who will receive the fee when the user draws his/her Gachapon contract.

Background

Normally, the only way for NFT artists and projects to distribute their NFT is listing on the NFT exchange likes OpenSea, many of them are struggle because of many reason, we're making the Gashapon-liked smart contract to help distributing along with generating some revenues at the same time.

The Gashapon which is vending machine that dispense capsules of toys. These vending machines appear almost at every corner in Japan's streets. People love the excitement to open a box that is full of hope and imagination with infinite possibility. People buy special NFT with lower price. There really is something for everyone, no matter your age, gender or interests. In terms of NFT owners and creaters, they don’t find the right buyers for the right NFT. The boxes consisting of unique/ the hottest NFT will.

Chainlink VRF

The Chainlink VRF is used to generate a random number for drawing the game without the risk of manipulation by the attacker, the system make a request to VRF nodes to get the new number within 1-3 minutes interval, the number will be persisted in the factory contract and can be accessed from any Gachapon contract for further drawing according to the probability that has been set by the owner of the Gachapon contract.

Drawing Mechanism

The current mechanism is pretty simple, the randomness of the draws is truly fair and accessible for all who are willing to pay the ticket price that has been set by each Gachapon contract owner. Each slot need to set the winning chance by its owner in a percentage term, for example, if there are 2 NFTs in the Gachapon contract each has value of 10%, when the user draws the Gachapon, it will send the request to Chainlink VRF to find the random number between 0–10000, you will receive the first NFT if the number returned between 0–1000 and the second NFT with between 1001–2000, the rule is simple and straightforward. This is how the current version works, however, the mechanism is continue improving and developing to achieve the high security standards with greater user experience.