Future Whitelist Proposal: Token (NXTT)

This proposal is expected to appear on Snapshot for voting on TBD at 12:00 pm UTC

TL;DR

  • Proposal to whitelist Next Earth Token.
  • Proposed co-investment is 5,000 BNT.
  • There are no apparent security concerns that would prohibit whitelist status.
  • There is no reason to doubt the legitimacy of the Next Earth project.
  • The benefit to Bancor is clear.

NXTT token address: not yet available, token launch expected early Q4 2021.
Project Website: https://nextearth.io/

Project Next Earth

Our goals center around three pillars:

  1. True virtual land ownership, facilitated through an NFT-based world
  2. Disintermediated financial system, facilitated through decentralized finance technology
  3. Global community-based governance, facilitated through a Decentralized Autonomous Organization

Together, these pillars form the business metaverse.

With the 10X10 virtual land distributional model on the surface of the Earth, already it’s a proven and popular concept that can accelerate community growth. To be able to reach this large community, companies will be interested to enter Next Earth’s platform.

With mathematical solutions, and an allocational system after transactions, we are creating a self-sustaining platform, motivating both the community and businesses to use this ecosystem.

From the beginning, Next Earth will be allocating to environmental charity. When the development of the platform moves towards its later stages, these allocations can turn fully toward environmental charity.

The whole process will grow from crypto seeds and is aimed at the mainstream economy in order to bring in as many users and businesses to crypto as possible. With this, we will become a crypto gateway for many.

Imagine a global Defi ecosystem with DEX-es like Bancor and lending protocols like Compound located on the very foundations of Wall Street. Imagine an IDO platform where the community can go for the best deals, or why not across all IDO platforms? Next Earth welcomes NFT galleries created by marketplaces, individual collectors, or artists, sharing their own collections. Imagine your NFT gallery in the White House, or on Montmartre in Paris. We would also love to see out-of-the-box solutions, such as offering extra features for Chiliz fan tokens in the stadiums of the sports team, or organizing tic-tac-toe competitions in the desert, or making charity activities by selling NFT art painted onto the surface of the ocean. All DeFi, NFT, and other crypto projects are welcome, alongside community members creating their own business, and mainstream companies entering this platform.

We want to show everyone the amazing possibilities in this ecosystem, along with the future perspectives of this technology, and all the improvements it can offer our world. People need to know this. Just as we realized after coming here looking for business opportunities, and then realizing, that we are here instead, to change the world.

In a nutshell, Next Earth is an NFT-based business metaverse with a DeFi ecosystem that aims to be a gateway to crypto, with a heavy focus on environmental charity, and all under DAO governance.

Tokenomics

Next Earth’s native token, NXTT (Wrapped ERC20), is required to access, and participate in the Next Earth ecosystem. Users will only be able to buy land in this native currency, and the operation of Next Earth’s and it’s DeFi ecosystem (staking, environmental charity, land and NFT trade, business activities etc.) will be only supported with NXTT tokens.

The NXTT token will be set to be a disinflationary token, because NXTT tokens will be burned after every transaction ever occurring inside the Next Earth ecosystem. With a maximum number of 1,000,000,000 NXTT created at the beginning.

  • After every first land sale 5% of transactions is automatically burned in NXTT
  • After every second-hand land sale 1% of transactions is automatically burned in NXTT
  • After every Product NFT sale 1% of transactions is automatically burned in NXTT
  • After every business transaction 1% of transactions is automatically burned in NXTT
  • Staking will also positively affect the NXTT token’s valuation, since:
  • After every first land sale 20% of the transaction is automatically sent to community members staking NXTT tokens
  • After every second-hand land sale 1% of the transaction is automatically sent to community members staking NXTT tokens
  • After every Product NFT sale 1% of the transaction is automatically sent to community members staking NXTT tokens
  • After every business transaction 1% of the transaction is automatically sent to community members staking NXTT tokens

Tokens will also be distributed in a fair method, without the risk of whales dumping them on the new line of investors. As the owners of the company funded the whole development by themselves, there are no seed investors or VC’s waiting for the first occasion when they can dump on the smaller investors.

The owners and the team will only receive less than 20% of the whole token distribution, and their tokens will be freed up in a fair and calculatable structure over 3 years time, with no option to sell in the first 6 months.

Community and Communication

We are partnering with Belkin Marketing, and they are arranging our full scale marketing campaign.
Our main focus will be on content marketing. We will create 100+ articles in the first two months, and continue to do so afterwards to raise and keep awareness in the crypto community. We are already active on Discord, Telegram, Twitter, Reddit, and will soon be using 60+ platforms for communication and spreading our brand awareness.

Our other spine will be the community building, which will also be an essential part, especially because we build our business on the size of the community. There is a community roadmap rolled out in the coming days which will be a structural backbone of the whole process, and we will do every single marketing to back the process of building our community. There is a much complex structure that is created and with the community roadmap arriving it will be implemented to start the process as successful as possible.

Community appreciation will be felt right from the first moments, because the allocational system is built in a way that gives back to the users. Even before the start we are already in depth discussion with community leaders regarding the project and actual changes have been made based on their feedback.

We are currently launching with the land pack pre-sale on the 22nd of July. On the 12th of August, direct land purchase from the map will begin, and our marketplace will be launched on the 19th of August.

We plan to have a major IDO campaign for token launch, and afterwards when we have the awareness we need from the crypto community, we will be addressing mainstream users, with a wide spread campaign, where we aim to bring in as many new users to crypto as possible from the mainstream economy.

Benefits for Bancor:

We have a mission and believe in a vision and both are very much in line with Bancor’s values. DAO governance and decentralization, presenting a middle-man-less life for as large a community as possible is just the start. As a valuable part of Bancor’s growing network of partners we believe that we can represent a direction, a project, a team, that adds nicely to Bancor’s partners.
We are confident that we can deliver value to Bancor’s users by introducing a token that will be successful thanks to our fair distribution, value centric tokenomics, and many use cases that NXTT token will be supporting.

As our marketing is managed by Belkin Marketing, and the project mentored personally by Yaroslav Belkin, we believe that we are on a track to become a project that truly matters. By keeping in touch as partners, we can see future possible collaborations. Like the one mentioned earlier, having Bancor present on Next Earth. Becoming part of this global DeFi ecosystem to reach our community and to be easier reached by mainstream users entering crypto through Next Earth platform, thus generating new users for Bancor too.

Thank you very much.

Hi @mrkey,

Thanks for posting this proposal.

NXTT token address: not yet available, token launch expected early Q4 2021.

I don’t think that the Bancor DAO can vote on this proposal yet since the token has not launched. There is certain information that needs to be made available (e.g. platform audits, current token distribution, as well certain technical requirements) to us in order for the whitelisting process to proceed. You can read about all of them here.

With that said, I think the DAO tends to be a little cautious with whitelisting a newly launched token as price discovery might have not occurred yet. We do have some solutions in place that could potentially alleviate these concerns and might be worth looking into. E.g. we are looking to implement external IL protected pools which might of interest to your project, see:

  1. Proposal: Whitelist BBS with External IL Protection
  2. Proposal: Whitelist DAPP Network (DAPP) w/ 500k Co-Investment and External IL Protection
  3. DAPP Network Prepares to Bring External Impermanent Loss Protection to the Bancor Network | by DAPP Network | The DAPP Network Blog | Jul, 2021 | Medium

There is also origin pools which might be launched as part of Bancor V3:

  • Origin Pools: A collateralized token launch system to support DeFi gems on the Bancor Network is in the final design stages. Origin pools are designed to offer an IL-protected liquidity solution to new token projects without exposing the protocol to excessively high risk.

Either of these options will provide a path to becoming a fully whitelisted token in the future.

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