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The liquidity of NFT among users had been a problem since the birth of NFT. However, the prosperity of DeFi in the summer of 2020 brought the best solution for NFT liquidity in the decentralized world.
In July 2020, Rarible took the lead in launching liquidity mining and was successful in a short period of time. The launch of the governance token RARI greatly increased the NFT transaction volume on the platform. At that time, NFT works in the form of pictures were the main trading objects, but nowadays, music, games, and metaverse have joined the NFT team, and the NFT platform needs to be continuously upgraded to meet more complex needs. At the same time, the rise of BSC and HECO has also expanded NFTs to more mainnets, and the cross-chain function has gradually become the standard configuration of the NFT platforms.
Domino is a cross-chain NFT and DeFi aggregate platform, who will achieve decentralized governance through DAO. Domino will first launch basic NFT collection distribution and trading function, through which institutions and individuals can issue various open source NFT projects, including music, games, metauniverse, social, etc. At the same time, these NFT products issued on Domino will be deeply integrated with DeFi through mortgages, liquidity mining, crowdfunding, etc., to explore more financial characteristics of NFT products.
In addition to ERC721 and ERC155 protocols, Domino will explore more NFT protocols and provide different NFT distribution and combination methods. For example, NFT dynamic protocols can trigger changes in response to corresponding events in the real world, such as casting, destroying, or changing its own attributes; NFT segmenting and recasting protocols can solve the segmenting and recasting of NFTs, and generate new value for the issued NFTs.
Open-source code is an important concept of the Domino platform, and a necessary means for stranger networks to gain user trust, improve smart contract functions, and ensure code security. Smart contracts stored on the blockchain are compiled binary codes. Only when the source code is completely disclosed can it be convenient for conducting validation and review, confirming the consistency of its logic and business description, and checking whether it has logic errors or security breach. All functions in Domino will be implemented through smart contracts, including the output of native tokens, the issuance, listing, and trading of NFT assets on the platform, and the combination of NFT and DeFi, such as liquidity mining, mortgage, leasing and other functions. Furthermore, the integrity of Domino's business logic can also be checked through open-source smart contract code.
DOM is the native token of the Domino open-source platform, who undertakes the following functions in the platform:
1) Dividend Rights: All users who hold DOM will receive dividends from the sales and circulation of NFT products on the Domino platform and enjoy Domino platform fee reduction
2) Governance Voting: As an open-source platform, major decision in the development of Domino will be voted by DOM holders;
3) Project Crowdfunding: Users can participate in the early crowdfunding of a single NFT project on the Domino platform through DOM, and get airdrop
4) Transaction Payment: Users can participate in the purchase and sale of NFT commodities such as NFT collections or game props through DOM.
Now, you can participate in Domino and experience the wonderful world of NFT and DeFi. No matter you are an artist, a collector, a game player, or a creative agency, you can find your role in Domino.
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