1. Product name
2. Product description
Yours Klay is a protocol designed to create sustainable NFTs. It is specialized in increasing the usability of NFTs for users and issuing NFTs with financial functionalities. Functionally, it not only facilitates NFT issuance but also makes processes such as NFT combination, authentication, and distribution more convenient and easy. Ultimately, we will continue to build a model that not only increases transactions within Klaytn but also contributes to the increase in KLAY burning.
It is hard to defend the price of web3 assets like NFT, and sometime it is hard to cash out because of the lack of liquidity.
We started to build product to add financial backbone and user friendliness to the NFTs. Yours Klay provides the easiest solution to add value to NFTs.
A. Seamless Minting & Management
- Providing an easy-to-use link for NFT minting
- Distributing NFT minting links to specific contacts
- Accessing the MyPage through KakaoTalk messenger
- Collecting NFTs from various chains in one MyPage
- Combining multiple NFTs into one for practical use
- (TBD) Providing templates for various NFTs (e.g., tickets, memberships)
- (TBD) Facilitating token gating for communities
B. Credit system
- Introducing a web2 rewards system called ‘Credits’ that enables easy NFT transactions and allows sellers to set incentives.
- Credits issuance requires assets like KLAY to be backed up in a pool and will be utilized for various NFT-related functions in the future (e.g., NFT random gacha, random enhancement, etc.).
C. Minting Financial NFTs
- Issuing NFTs representing Klaytn staking positions
- (TBD) Issuing NFTs representing LP positions in other Klaytn DeFis
D. Utilization of Financial NFTs
- NFT holders receive rewards; however, to prevent direct cash flow, continuous provision of web2 rewards ‘Credits’ will be provided, which can be swapped later.
- NFT transactions can be used for position hedging or traded like mid-risk, mid-return bonds.
- Combined with existing Klaytn NFTs, these NFTs can provide financial intrinsic value to existing NFTs.
- Private funds that allow deposits only from holders of specific Klaytn series NFTs can be implemented.
- Authorization for specific community treasuries and access can be represented by NFTs and traded (similar to functionalities like friend.tech).
3. Team information
- Dot Slash Dash Wallet Plugin Delivery
- Game Token Monetization with LoadComplete
- Completion of Outlier Ventures X Aptos Foundation Accelerating Program in July 2023
- Discussions underway for partnerships with over 10 projects in the Aptos ecosystem
- Ongoing discussions for solution provisioning with OV Portfolio (around 200 international Web2 companies and Web3 foundations)
- Ongoing discussions for additional global VC investments through the OV Network
- February 2023: Second Place in the Game Track at Aptos Seoul Hackathon
- June 2023: Winner of DoraHacks Aptos Grant Round 3
- September 2023: Second Place in Glitch Multi-Chain Game Hackathon
3-2) Official links
- Website: https://yourlabs.info/
- Video demo: https://www.youtube.com/playlist?list=PLQCydVTFJTobIkkm-lR7QiUQIAD2gfdMU
- Documentation (KOR): https://yours.gitbook.io/kor/
- Documentation (ENG): https://yours.gitbook.io/eng/
- Twitter: https://twitter.com/yourlabs_bwl
- Kakaotalk Channel: 카카오톡채널 - Yours
- Telegram: Telegram: Join Group Chat
- Calendly: Calendly - Your Labs Contact
4. Grant proposal
4-1) Impact for Klaytn Ecosystem
- It burns a substantial amount of KLAY by minting numerous NFTs and performing other functions.
- It provides intrinsic value to tokens in the Klaytn ecosystem, including Klaytn NFTs, preventing price crashes.
- It increases demand and liquidity for Klaytn NFTs.
- It onboards more mainstream users to the Klaytn platform.
4-2) Differentiation from existing DeFi & NFT projects
- Existing DeFi primarily focuses on traditional swaps and loans, failing to directly expand user demand for KLAY.
- There was a lack of compelling reasons to attract external funds to Klaytn.
- NFTs mainly symbolized communities, with limited potential for sustainable financial value creation.
- The Yours Klay maximizes internal burning within Klaytn and encourages inflow of external funds.
- By creating easily accessible Klaytn-based staking NFTs offering diverse web2 rewards, it motivates the use of Klaytn.
- Transferring NFTs from other chains to Klaytn and integrating them with financial NFTs generates value.
- Collaborating with dApps on various chains through web2 rewards can increase demand for KLAY.
- Additionally, the user-friendly Yours Klay ensures easy access for any user.
Milestone 1 (1 Month):
- Deployment on Klaytn testnet
- Implementation of NFT combinations
- Partnership with at least one Klaytn project
Milestone 2 (1 Month):
- Klaytn mainnet launch
- Onboarding of over 200 users
- Implementation of credit use cases
Milestone 3 (1 Month):
- Strengthening incentives for protocol contributors
- Onboarding of over 1,000 users
- Partnerships with two or more web2 and web3 communities
5. Budget proposal