Your source for the latest car, tech & blockchain news Thursday, 1 December 2022 Submit press release

Idexo Publishes New Open Source Contracts For Linking NFTs To Soulbound Tokens, Spendable NFT Voting And Consumable NFT Coupons

London, GB, 11 Oct. 2022, 16:18 CEST
Idexo Publishes New Open Source Contracts For Linking NFTs To Soulbound Tokens, Spendable NFT Voting And Consumable NFT Coupons img#1
Idexo Publishes New Open Source Contracts For Linking NFTs To Soulbound Tokens, Spendable NFT Voting And Consumable NFT Coupons img#2

idexo is pleased to announce that it has published new open source smart contracts, written in the Solidity programming language for linking NFTs from different smart contracts to a Soulbound Token, creating a voting contract whereby votes are cast by NFT holders and the votes can spend tokens, and a payments contract where the payment can be in any specified token and be made for specific products, with payments generating a consumable NFT coupon for those products. These contracts are now available in the idexo ido-contracts repository on Github.

The Linked NFTs Soulbound Token smart contract enables the linking of NFTs from other smart contracts and blockchains to a Soulbound Token ID, thereby extending the data that can be known and associated with a holder of that ID. Applications of this include creating rich token gated experiences that display all linked NFTs and provide contextual content and access based on those linked NFTs and their attributes.

For example, idexo has created a Token Gating tab within its own community dApp that enables its community members (called Idexonauts) to see all of the NFTs they have collected through community campaigns or through staking and unlock special content, discounts, coupons, votes and other applications based on their Soulbound Token profile.

Idexo also offers this same functionality to customers of its application who want to offer the same to their community and/or customers.

The Spendable Voting smart contract enables the creation and voting of proposals that include an amount of token to be spent as part of the proposal and are issued to specified wallets. Voters on the proposal are holders of NFTs, with the eligible NFT smart contracts set through a contract function. Applications of this include creating flexible DAO structures based on any combination of NFTs and spendable tokens as needed to enable governance utility.

For example, idexo is using these contracts to enable holders of NFTs that are generated through its staking pools to vote on spending proposals of its native token. When users stake in any of the idexo staking pools, the stake generates an NFT with data about their stake such as stake amount and locking time period and it is this NFT that is then used in the spendable voting contracts. These voting systems are being integrated into its community Token Gating UI, unlocking the interface when users connect their wallet containing the eligible NFTs.

Idexo is also making these Spendable Voting smart contracts and hosted Application User Interfaces available to its customers to use in their communities.

The Consumable NFT Coupon smart contract is a payments contract that specifies a native token or tokens to use for purchase and products that include numbers of uses for a given price in tokens. When the purchase function is used for a specified product and given amount paid, then a receipt coupon NFT is generated and sent to the purchaser to be used in consumption. As the coupon NFT is used, its number of uses are reduced accordingly to the point of being fully utilized, wherein it will no longer be valid for use. Applications of this include providing a flexible payment utility for native tokens within a community ecosystem.

For example, idexo plans to use this consumable NFT system to provide its community a way to buy single or multi-use access to applications, such as NFT surveys, that would otherwise require a monthly subscription, using its native token to make the purchases.

"We're excited to finally release some of these open source contracts to the community and put them into use in our SDK / API, SaaS products and community applications," says Greg Marlin, CEO/CTO of idexo, "Behind the scenes, idexo is continually working on many different types of NFT and Soulbound Tokens innovation smart contracts and we look forward to releasing many more in the near future to address a broad range of use case."

Idexo's founder and CEO/CTO Greg Marlin is currently attending Ethereum DevCon in Bogota and is available to connect with any interested parties to discuss these and other recent releases.