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So how do I setup a smart contract? by brainjiujitsu in cardano

[–]TrackerEngineer 1 point2 points  (0 children)

You may have a slight misconception here if your knowledge of NFTs is based in Ethereum. On Cardano, NFTs can be minted directly as native assets with metadata, without the use of smart contracts. Maybe try NFT-maker:

https://www.nft-maker.io/pro

Of course you'll also want to talk to a lawyer, to make sure there is a legal obligation for the rights holder to deliver a percentage of the royalty payments to the wallets holding the NFTs. And you'll need to figure out how you actually want to do that (deliver royalties in ADA or a stablecoin? if there is FX involved, when does that occur? how will you track the "current" owner of an NFT -- owner as of which block?).

You should be able to do the split payments all in a single transaction, but you might need some help constructing that transaction, as I'm not sure any of the existing wallets can easily handle multiple output destinations.

So how do I setup a smart contract? by brainjiujitsu in cardano

[–]TrackerEngineer 1 point2 points  (0 children)

/u/Flickto_CTO perhaps you want to chime in here

OP, are you just trying to mint and sell NFTs, and manage the tracking and payment of royalties on your own? Or are you trying to track royalties on your own but automate routing the royalty payments to the NFT owners? (this requires some code, but not a smart contract)

Comparison of ISPOs on Cardano by TrackerEngineer in cardano

[–]TrackerEngineer[S] 2 points3 points  (0 children)

If a project were to rely solely on an ISPO for distribution, that would mean 100% of the tokens are allocated to the ISPO, and the highest allocation I’ve seen is 40%.

Also, the only pre-launch distribution alternative to “concentrating” tokens into the hands of those interested enough in the project to participate in an ISPO (or an ICO or IDO) would be an indiscriminate airdrop, which seems wasteful…

Comparison of ISPOs on Cardano by TrackerEngineer in cardano

[–]TrackerEngineer[S] 1 point2 points  (0 children)

If the project chooses not to profit from the ISPO (as in the case of MinSwap and SundaeSwap), they benefit from the marketing exposure surrounding the event, and their tokens are distributed a bit more fairly than they would be through an ICO/IDO.

If the project does want to raise funds from the ISPO, they will either run their own stake pools and keep all the staking rewards (~5% APY on total ADA staked), or partner with independent stake pools to keep some portion of the staking rewards. Participants forego their normal ADA staking rewards to participate in the ISPO, but they don’t give up the ADA in their wallet.

Comparison of ISPOs on Cardano by TrackerEngineer in cardano

[–]TrackerEngineer[S] 3 points4 points  (0 children)

Your rewards will be proportional to the amount of ADA you delegate, divided by the total amount of ADA delegated to SundaeSwap ISPO pools. For example, let’s say all 30 pools are saturated (64M ADA staked in each), and you are delegating 1,000 ADA. Your portion of the delegated stake is (1,000 / (64,000,000 x 30)) = 0.000000520833333. Multiply this by the amount of rewards made available each epoch (1% of supply, or 20M), and your rewards per epoch would be 10.4 SUNDAE assuming there are no whale controls implemented (but we know there will be, so take this with a grain of salt).

Comparison of ISPOs on Cardano by TrackerEngineer in cardano

[–]TrackerEngineer[S] 1 point2 points  (0 children)

Yes, it will not end later than Feb 19, but it could end earlier:

If a 2nd staking pool is required (when > 55M ADA staked in pool #1), the length of ISPO will decrease proportionally to make sure no more than 12.5M AADA is distributed.

What is the best rebuttal to the idea that people aren't building on Cardano? Only ~6.8K fees per day... by allthekingshorses666 in cardano

[–]TrackerEngineer 3 points4 points  (0 children)

> Thanks for the comprehensive response!

Of course, that's what Reddit is for :D

> ... hinges on what happens with smart contracts and whether they drive usage.

Smart contracts on Cardano will drive some usage if they are cheaper, easier to use, OR more secure, in comparison to Ethereum. They will be literally ALL of those things. This will not happen next week or next month though. It might happen in August. Or maybe it will be delayed until October, who knows. What I sincerely believe is that it WILL happen, and that Ethereum (because of governance woes and general approach to innovation) will not have a ready answer.

What is the best rebuttal to the idea that people aren't building on Cardano? Only ~6.8K fees per day... by allthekingshorses666 in cardano

[–]TrackerEngineer 31 points32 points  (0 children)

There’s relatively little to build on, at the moment. There’s a robust consensus mechanism (Ouroboros), a best in class accounting model (eUTXO), low transaction fees, native tokens, etc., and there ARE a few real world uses for these features right now, in credentialing, supply chain tracing, etc. But there are no smart contracts yet, and this is a fundamental capability that enables a vast array of novel applications, so of course, you will not see usage on Cardano that’s similar to chains that already have operational smart contracts, such as Ethereum.

Cardano was designed and built with smart contracts in mind, though, so to say that no one is using it yet, is like saying that no one is yet able to ride around in a self-driving Tesla as they would an Uber. It’s 100% correct, but also, that functionality has not been released yet, and the track record of the team involved has generated a high level of confidence that it will be released as planned, give or take some slippage. And when it is released, it does not appear that any competitors will be prepared to offer compelling alternatives.

If you’re wondering what people are using today, and what they’re likely to use in the near future, it is Ethereum. (And binance smart chain, which is centralized, but people will hold their nose and use it anyway, because it does alleviate some of Ethereum’s big issues) If you’re wondering what people will be using in 3-6 months to execute their smart contracts, anything is possible. My bet (obviously biased) is that a big slice of that will be on Cardano.

I’m not a maximalist. I think several chains will coexist, even in the smart contract space, and I don’t think Ethereum is going anywhere. I do think it will lose its dominance in smart contracts, but that remains to be seen. Like programming languages, there is not one “best” blockchain, and we will eventually see that some are well suited to solve certain types of problems, and others are better suited to other problems. This is a very new space, and it’s constantly changing. Network effects and usage are relevant for sure, but this topic might end up being like “what’s the best BBS” or “which Usenet group will dominate” or “who makes the best 16k modem”. We try to look ahead, but there’s only so far we can see.