A wake-up call
Why most NFT projects are a high risk where only a small number of people will benefit from it. When a new NFT project launches, the focus is often on building a community around the project and positioning it as a brand with a promise of benefits for token holders.
The community is often driven by a "pump and dump" strategy, where the goal is to make the project appear as desirable and inclusive as possible. So to get the most profit, buy in early, get a few NFTs, and sell it when the demand is high.
The critical factors of the success of all NFT projects depend on the community decision (it can be a DAO) or the project founders themselves. However, there is still high demand for human factors where communitive influence is highly impacted towards the decision.
Why can this be a programmable protocol where each participant can act as an individual actor but still benefit every participant?
Introduce you to Project Sunrise. The protocol is built to allow every participant to earn in every market condition. This protocol is independent of a significant cumulative decision. Participants execute based on programmatically set requirements, and everyone will benefit.
It eliminates the risk of dependence on the project owners and allows the protocol to operate autonomously for extended periods of time with minimal costs for minting new tokens. It opens up a lot of new possibilities and potential. This is the first NFT-based "refer-to-earn" that was introduced in the world.
Satoshi came out with a brilliant whitepaper of the peer-to-peer monetary network. And with the concept of anonymity and long-term operability, we introduced an autonomous and decentralized NFT "refer-to-earn" protocol.
What is this project about?
Project sunrise is a social experiment that is built on the blockchain to explore the concept of interconnectedness and how far a small action can ripple through a network of people. It also demonstrates the potential of blockchain technology to incentivize and reward individuals for participating in a network.
Project Sunrise is not an investment. Use this service at your own risk.
How to get started?
- MINT: You are here because someone told you about this project. You should already obtain a referral number (NFT ID) by default. Mint a Project Sunrise NFT for 0.15 BNB each here. You can mint as many as you like.
- REFER: After minting, you'll receive an NFT, which will be displayed on the project dashboard. NFT ID is your referral number. Use it for others to mint their NFTs so that you can expand your network.
- GET REWARDED: If someone uses your referral number to mint an NFT, you'll instantly be rewarded for your effort. You will also consistently receive rewards when your network grows.
How are rewards being calculated?
NFT minted act as a pass or a membership to obtain a referral id which can later be used to mint more NFTs. Each NFT costs 0.15 BNB, and the amount collected will be added to a pool that is distributed as a reward to the earlier participant. In addition, this project does not collect any fees.
- Rewards distribution fundamentals: For each NFT to be allowed to withdraw their rewards, two NFTs must be minted under its referral. This rule is set so that the network continuously expands and indirectly benefits all participants.
- What if my referral is used more than twice?: If your referral is used more than twice, the newly minted NFT will be allocated to the below hierarchy prioritizing any NFT that still does not meet the referral requirement.
Note: Review smart contract code here.
The protocol incentivizes earlier friends for each referral made. The incentive is 0.01 BNB per person referred, up to a maximum of 15 tiers lower.
The person who initially purchased the NFT can earn a maximum reward of 0.01 BNB for each person referred by their two friends, and so on, up to 15 tiers lower. Further, it can go at a maximum of 655 BNB per NFT. Yes, that's it, you heard it right.
Maximum earnings per NFT
The estimated maximum reward for the person who initially purchased an NFT is about 655 BNB. This is calculated by adding the maximum possible referral reward of 0.01 BNB per person, up to 15 tiers lower. Therefore, the total number of NFTs minted is:
- number_of_nft_below = (2 powOf 16) - 2 = 65,534
- rewards = number_of_nft_below x rewards_per_nfts = 65,534 x 0.01 = 655.34 BNB
- Each mint of 0.15 BNB has maximum potential earnings of 655.34 BNB
Project Sunrise smart contract is deployed on the BNB Chain, which uses BNB cryptocurrency, one of the top 5 cryptocurrencies by market cap. The contract is verified and open for everyone to review. Every single BNB collected from each holder is given back to the holder before as a referral incentive. There is no centralized organization, person or company that governs the process. It is a fully autonomous and decentralized protocol without enriching anyone in particular.
This social experiment is a creative way to study human behavior and the power of social networks. It also showcases the potential of blockchain technology in creating new incentives and reward systems. This experiment is a perfect example of how blockchain technology can be used to drive social change and create new opportunities for individuals.