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NEAR Grant Protocol

This project was initiated during the NEARCon 2023 hackathon. Submission.

Token used to distribute grants in the ecosystem and incentivize the grant recivers to reinvest withing the ecosystem. The grant is first wrapped and packed into the grant token and then distributed to the grant recivers. If they want to unwrap the tokens they would only receive 80% of the original value. If they spend it with the verified service providers, they on the other hand can unwrap the 100% of the original value. The difference so lets say the 20% should go back to the grant provider.

Why using MT token?

We need to distinguish tokens by granter:

  • granter should be able to withdraw his tokens without being a subject of the penalty
  • our long term goal is to use measure token velocity by granter
  • each token has it's underlying value, and if we introduce more levels of penalty, we end up with tracking problems (people sending to each other grant tokens from different grants)
  • token per granter allows us to easily measure performance of granter and grantee
  • opportunity to test and work with the Multi Token template and had more hands on experience for MT standard we want to finalize.

Example of the flow

Let's define the addresses we will use in the example:

# the grant token protocol we created and deployed, ready to use
CTR=grant-protocol.testnet
# a FT with self-mint function
FT=test-token.cheddar.testnet

# Some fake accounts
GRANTER=grant-provider.testnet
GRANTEE=grant-reciver.testnet

Some FT require prior registration. Our Multi Fungible Token also requires storage registration:

near call $FT storage_deposit '{}' --accountId $GRANTER --deposit 0.05
near call $FT storage_deposit '{}' --accountId $GRANTEE --deposit 0.05
near call $FT storage_deposit '{"account_id": "'$CTR'"}' --accountId $GRANTER --deposit 0.05

near call $CTR storage_deposit '{}' --accountId $GRANTER --deposit 0.05
near call $CTR storage_deposit '{}' --accountId $GRANTEE --deposit 0.05

Now the granter can create his grantToken by supplying FT to the protocol. It will wrap the FT into a MT.

near call $FT ft_transfer_call '{"receiver_id": "'$CTR'", "amount": "200000000000000000000000", "msg": ""}'  --accountId $GRANTER --depositYocto 1 --gas 300000000000000

Once the granter has his grantTokens, he can distribute them:

near call $CTR mt_transfer '{"receiver_id": "'$GRANTEE'", "token_id": "1", "amount": "10000000000000000000000"}' --accountId $GRANTER --depositYocto 1

The grant receiver then can immediately unwrap the token calling. This will cost him a 20% penalty:

near call $CTR unwrap '{"token_id": "1", amount: "10000000000000000000000"}' --accountId $GRANTEE

Otherwise, to keep 100% value, the grantee can spend it in the ecosystem, by sending it to any whitelisted service provider.

near call $CTR storage_deposit '{}' --accountId design-studio.testnet --deposit 0.05

near call $CTR mt_transfer '{"receiver_id": "design-studio.testnet", "token_id": "1", "amount": "10000000000000000000000"}' --accountId $GRANTEE --depositYocto 1

Whitelisted accounts can call unwrap and get 100% of the underlying value.

Service provider can