Proposal to bring Fashion Liquidity to Instadapp

Hey Everyone! First time posting here. I’m Emma from DIGITALAX.

DIGITALAX is here to prove that web3 fashion is the missing bridge that will onboard millions of capital savvy new users into DeFi. We’ve built an entire ecosystem across digital and physical fashion, NFTs, gaming, esports and the metaverse.

Our community consists of designers, developers, modders, gamers, creators and crypto/DeFi enthusiasts. We maintain a regular daily schedule of active communication with our community members across our Medium, Discord, Instagram, Twitter, Telegram, Linkedin and Youtube accounts, and facilitate the continuous growth and connections between them.

Decentralisation is our animating principle, and is interwoven into the fabric of everything we do –– through rapid, progressive development across each layer of tech infrastructure, distribution of power, and value exchange.

Summary
We partnered with Instadapp and 9 other leading DeFi protocols to create hybrid digital-physical NFT fashion collections, with designs and patterns sourced from our Global Designer Network DAO.

This DeFi protocol merch is sold through our DRIP NFT marketplace that targets a completely new retail market beyond crypto and relies on existing buyer behaviour. Broader retail markets are eager for a way to make sense of NFTs, DeFi and web3, but have no current realistic means to get in. DeFi for most people is an obnoxiously complex bit of Voodoo science that inspires a fear they will never be valued fairly or understood. Fashion, on the other hand, intrinsically fulfills a core set of needs and desires, inherent in how we all live, express ourselves and how we define who we are.

The launch of the first Fashion x DeFi bridge serves to enhance interoperability for the fashion and gaming retail markets into DeFi.

Customers can purchase apparel in fiat or crypto (we accept the native ERC-20s of each protocol on Polygon). These fashion NFTs can be staked for yield in $MONA through our staking contracts, also on Polygon.

Eventually this Fashion x DeFi bridge expands into a full suite of fashion DeFi products. There is a profit split on the sold merchandise between the DeFi Protocol (30%), Designer DAO and DIGITALAX Treasury under the Fractional Garment Ownership standard.

The merch buyers build out their own success and intensify interest and loyalty towards DeFi and the $MONA pool, through fashion. These retail $MONA holders are specifically onboarded into practical education as to how $MONA provides greater utility via DeFi and additional DeFi protocol partners, beyond the immediate DIGITALAX ecosystem. This is executed from resources dedicated by DIGITALAX, including production of educational materials, custom content, dev build outs, sales / marketing channels, and community coordination.

You can purchase INSTADAPP NFT MERCH Here!! And stake the NFTs for $MONA!

Reason
What drives a buyer’s behaviour in the digicore boutique, indie and streetwear fashion segments is a pronounced desire to improve their lives, look good in a unique way, stand out and appear savvy to the people that matter to them.

The authenticity inherent in mixing leading, bleeding edge decentralised tech companies, a global network of indie designers and brands each with their own hyper networked distribution channels and the cultural cred / hype around NFTs… is self-evident. If this doesn’t drive high demand, then nothing in fashion ever has.

Having an integration with Instadapp means as we bring in these new users they can have an easier time onboarding into the entire DeFi ecosystem, leveraging liquidity between protocols, rather than in just one silo.

We have started to build Instadapp Connectors with our protocol staking contracts and also work with Assembly around a new NFT DeFi product that will launch soon. This new product specifically gives exposure to this arbitrage between fashion, gaming and decentralised technologies.

This is a Vested Composite NFT product that is being made available for sale from the end of July/ early August. It allows the holder to stake it in our new to-be-deployed Polygon staking contracts for a composite yield on profits from the DRIP fashion NFT sales combined with vested $MONA distribution ($MONA = DIGITALAX native ERC-20).

  • A mix of ERC-20s are accepted on DRIP for purchases of the fashion items. 15% of the profits delivered in this dynamic ERC-20 mix will be distributed as a monthly yield to holders of the composite NFT that they have staked in the new contracts. Eligibility for this profit split allocation is supported for 6 months.
  • This NFT staking will also include vested $MONA rewards over a 3 month period.
  • 1 $MONA is included in the composite index and vested over a period of 3 months where the $MONA is staked for earning further $MONA yield from the NFT staking contracts.
13 Likes

Thank you @EmmaJane13 this was a really great introduction to your product and bold vision for a new fashion economy.

If you haven’t seen the fresh threads at Digitalax here are some of the Instadapp Merch - If you were looking for utility of your $INST tokens on Polygon. Digitalax’s store will happily accept your $INST tokens as payment.


GET FRESH THREADS - Instadapp Storefront on DRIP :tshirt:

Fashion x DeFi

This is a really interesting and fascinating project. I particularly like that the product aligns well with the web3 ethos of creating a new decentralized way of organizing, producing and sharing economic resources. Combining real world goods with digital ownership may be a bridge for users to on-board to the DeFi ecosystem. (Adding yield is very attractive and cool way to introduce someone to Crypto-economics.)

What’s Next

Digitalax is in the process of developing connectors to their staking contracts. Once those contracts are completed and reviewed by the team; Digitalax can proposal to integrate the contracts to the DSL.

9 Likes