Next Step Microgrant: Deagle

[i-m-aditya]

1. What is your project? (max 100 words)

Deagle is an NFT options protocol. Using deagle, a user can speculate, hedge and earn income on his/her NFT. Instead of trading NFTs, trade the option to buy or sell an NFT at a strike price before a maturity date.
NFT options data is stored in IPFS.
There will be two types of user,
Option Seller : He is the person who has the nft so he can either mint a put option to hedge his/her nft(we call it NFT protection) or mint a call option to speculate and earn income on his/her NFT.
Option buyer: He is the person who is going to buy an option from any secondary marketplace(like opensea) and can settle it on our application if his option expires in the money.

Github repo : https://github.com/i-m-aditya/Deagle

Application URL(beta): https://nft-options.netlify.app

2. How are you planning to improve this project? (max 200 words)

• As of now, the dapp only supports price movement upwards. Hedging against NFTs (or what we call it : protective NFTs) will be supported soon.

• Improving UI and adding more features. One of the feature : option seller can set the selling price (premium) of his option from the application itself instead of going to opensea.

• Add a custom domain

• Auditing of smart contracts

• Deploy the contracts to mainnet.

3. Will the work be Open Source?

Yes

4. If selected, do you agree to complete weekly updates and a grant report upon conclusion?

Yes

5. Does your proposal comply with our Community Code of Conduct?

Yes

6. Links and submissions

• Have you submitted to the IPFS Community Showcase (instructions)?

Yes, ipfs/community#648

• Have you added your project to the IPFS Ecosystem Directory? Yes

• If your project began at a hackathon, have you submitted it for the relevant Protocol Labs prizes? Include links here if available: Yes, it began at HackFS (EthGlobal hackathon). But I used ipfs-http-client instead of using estuary.tech, nft.storage or slate.host, therefore didn't qualify for prizes.
  Showcase Link : https://showcase.ethglobal.co/hackfs2021/nft-options

• Have you filled out the Interplanetary Builder Feedback Survey? Yes

Additional questions:

• For each team member(s), please list name, email, Github account, and role in the project.
  Name: Aditya Pandey
  Email: prblmslvr.aditya@gmail.com
  Github: https://github.com/i-m-aditya
  Role: Designer, Developer, Project Manager
• If your project was created as part of an event or hackathon:
  • What was the name of the event? EthGlobal HackFS
  • Please link to your hackathon submission, proving you're a team that submitted for a Protocol Labs prize. https://showcase.ethglobal.co/hackfs2021/nft-options

[SeedingTrees]

Hi, i-m-aditya. For each team member, can you please list name, email, Github account, and role in the project? It's no problem if you are the only team member - please then just provide us your full name and email.

Thanks,

ST

[i-m-aditya]

Hi SeedingTrees,
I have updated that column in the issue.
Thanks.

[SeedingTrees]

Thanks! This microgrant has been approved! Look out for an email to submit payment details. Let's use your existing Community Discussion thread for updates.