From 5a333c129dcff0d9779927ac0ae3870da2ce66d4 Mon Sep 17 00:00:00 2001 From: evanorti Date: Fri, 1 Mar 2024 11:58:37 -0500 Subject: [PATCH] Update HowItWorks.mdx --- frontend/src/content/HowItWorks.mdx | 43 +++++++---------------------- 1 file changed, 10 insertions(+), 33 deletions(-) diff --git a/frontend/src/content/HowItWorks.mdx b/frontend/src/content/HowItWorks.mdx index 270b1d8..0040868 100644 --- a/frontend/src/content/HowItWorks.mdx +++ b/frontend/src/content/HowItWorks.mdx @@ -8,11 +8,12 @@ import styles from './MDX.module.scss'; ## Resources - The information in this site can be found in the following AllianceDAO Medium articles. + The information in this site can be found in the following articles. \- **[Introducing AllianceDAO](https://medium.com/terra-money/introducing-alliancedao-84ab93501f3c)**: About the DAO and how it works. \- **[AllianceDAO: The Backstory](https://medium.com/terra-money/alliancedao-the-backstory-15c4901f4f2d)**: The story behind the art. \- **[AllianceDAO Is Live](https://medium.com/terra-money/alliancedao-is-live-47aea2cdfb79)**: Information on the NFT claim. +\- **[AllianceDAO Rarity Explained](https://www.notion.so/terra-money/AllianceDAO-NFT-Rarity-8703a27a9eb74844a71469936afba6b4?pvs=4)**: Information on NFT rarity. You can follow AllianceDAO on X at **[@The_AllianceDAO](https://twitter.com/The_AllianceDAO)** for the most up to date information. @@ -22,49 +23,23 @@ Join the conversation by visiting the **[AllianceDAO Telegram room](https://t.me +
- ## About Alliance DAO + ## About AllianceDAO The AllianceDAO NFT is an NFT project launched to reward participants of the Game of Alliance (GOA). The GoA was an incentivized testnet designed to battle-test Terra’s Alliance module before its mainnet launch, and it ran from February 9th to March 2nd, 2023. During the game, users could stake on different Alliance chains and move their tokens around to optimize rewards as the parameters of each chain changed. Player’s final scores were calculated based on the total staking rewards they earned plus the points they earned from completing different missions. For more information on the Alliance module and how it works, visit the **[Alliance website](https://alliance.terra.money/)**. -Anyone who participated in the GoA and staked at least one asset will be eligible to receive an AllianceDAO NFT. To reward participants with higher scores, the NFTs will vary in rarity depending on a user’s GoA score. To determine each participant’s ranking, scores were tallied during the game, and final scores were calculated by multiplying a user’s mission score by the amount of staking rewards claimed. Higher-scoring players will receive an NFT with a corresponding rarity score. Users can stake their NFTs on Enterprise DAO to participate in governance and collectively determine future plans for the AllianceDAO. There will be an open claim period for the NFT where GoA participants can connect an eligible wallet to the claim site and mint their NFT. - -
+## Mission -
- - ## NFT Eligibility +On January 17th, 2024, AllianceDAO passed a [governance proposal](https://dao.enterprise.money/dao/proposal?address=terra1g0mfrpswewteaf9ky4rlj09wh5njp6u9xxk94uszplw4qz2f9mzq3k27fm&id=10) which formalized its mission: "To promote the successful adoption and evolution of the Alliance module across Cosmos." -Any user who created a wallet for the Game of Alliance and had at least one staking transaction while playing will be eligible to claim an AllianceDAO NFT. In order to be Sybil resistant and make the claim process as fair as possible, the claim is limited to 1 NFT per IP address that participated. If you participated with multiple wallets using the same IP address, only the wallet address with the highest GoA score will be eligible for the claim. Final scores for users with multiple wallets were calculated by adding all the points earned by each wallet. NFT rarity will be determined by your final score — higher scores will claim more rare NFTs. In total, 10,000 NFTs were minted. - -If you created multiple wallets, your NFT will be claimable by the wallet with the highest score. (See the eligibility section above for more details). After connecting your wallet, you’ll be able to see if you have an NFT to claim. If your wallet is eligible, congratulations! You can claim using your Station wallet and receive a newly minted NFT! - -After claiming, holders can view their NFTs by connecting their Station wallet to the AllianceDAO website. Users can stake their NFTs to the AllianceDAO in the Enterprise DAO app. - -Any NFTs that remain unclaimed after the end of the claim period will be minted and immediately sent to the AllianceDAO treasury. From there, AllianceDAO stakers can decide what to do with them. One idea is to send them to a marketplace to be sold, and the proceeds of the sale would go back to the DAO’s treasury or be distributed amongst AllianceDAO stakers.
- -
- ## How To Mint your NFT - - This site only supports the Station wallet. Before claiming, make sure you have downloaded the **[Station wallet](https://setup.station.money/)**. - - 1. Connect your Station wallet to this site by clicking the **Connect Wallet** located at the top right of the page. - 2. The address you connect with must be one that you used to play the GOA. If you used multiple wallets during the GoA, you may have to connect them one at a time to find the wallet the NFT was airdropped to. - 3. If you wallet is eligible for an NFT and you have not already claimed it, you will be directed to a page where you can click a button to initiate the mint transaction. - 4. After approving the transaction in your Station extension, your NFT will be minted, and you can view it in your gallery in the AllianceDAO site. - - -
-
- ## How Rewards Will Work - -Currently, there are no Alliance rewards diverted to AllianceDAO NFTs. These will start after a proposal is passed by Terra governance. + ## How Rewards Work -The same smart contract that mints the AllianceDAO NFTs will also mint an asset called “Ally.” This asset will be solely owned by the contract, and will never be transferred to anyone outside of the contract. To leverage the power of Alliance, the “Ally” token will be whitelisted as an Alliance asset on Terra via a governance proposal, enabling the token to earn a portion of LUNA staking rewards. The proposed Reward Weight for “Ally” will be .003 — or .3% of total LUNA staking rewards — and the Take Rate will be 0. Upon the proposal’s passing, the AllianceDAO contract will stake Ally to start earning LUNA rewards. The delegation of the asset will be controlled by AllianceDAO governance and can be changed at any time. Staking rewards will be collected periodically using Warp Protocol and stored in the AllianceDAO contract. +The same smart contract that minted the AllianceDAO NFTs also minted an asset called “Ally.” This asset is solely owned by the NFT contract, and will never be transferred to anyone outside of the contract. On February 23, 2023, the Terra commuity passed a [governance proposal](https://station.terra.money/proposal/phoenix-1/4801) to add “Ally" as an Alliance asset, enabling the token to earn a portion of LUNA staking rewards. The current Reward Weight for “Ally” is .008 — or around .72% of total LUNA staking rewards. "Ally" currently has no Take Rate. Upon the proposal’s passing, the AllianceDAO voted to stake the Ally toke to start earning LUNA rewards. The delegation of the asset is controlled by AllianceDAO governance and can be changed at any time. Staking rewards will be collected periodically using Warp Protocol and stored in the AllianceDAO contract. After the contract collects the staking rewards, each NFT will accrue rewards at an equal rate. At any point, NFT holders can connect their Station wallet to the AllianceDAO NFT website and “break” their NFT to claim their LUNA rewards. Importantly, NFT rewards can only be claimed once per NFT. Once an NFT has been broken, no more Alliance staking rewards will accrue to it. Although broken NFTs no longer accrue Alliance staking rewards, they can still be staked to the DAO on Enterprise to participate in governance. @@ -79,6 +54,8 @@ AllianceDAO NFTs are transferable, which means that if you send an unbroken NFT + + {/*
## How To Claim Rewards