[Active] AeonNet - Dynamic Derivative Swap Powered by Time Locked Synthetic Assets

Dear @gokulalex, thank you for the state report. AirGap is external company and they should be able to solve this error. However if you have the HD mnemonic, it should be possible to restore on other devise or reinstall the app. Please inform us if you had resolved the problem. Some persons confirmed they use presently airgap without problems.

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Dear @erik.chain ,

We are progressing with the first iteration of the UI designs. Please find the current version of the designs in the following Figma Board. We will be revising the Smart Contracts as per the concepts relevant to Crypto Derivatives.

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Dear All,

I have updated the weekly status report directly on GitHub for better visibility. Request your views.

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Dear the AE Foundation ,

We would like to expand the scope of the dynamic swap and hash time locked contracts beyond just derivatives to NFTs ( tokenisation of freelancer skills verified on-chain and off-chain ) as our domain knowledge on derivatives are limited and the target market of non fungible skills are much more promising right now. We had a lot of challenges in the last few months to model the token contracts in context of different type of derivatives. Instead of capital markets, we could like to target the NFT market with a focus on tokenising the skills of freelancers. Request your kind approval for the same.

Our UX design in progress. We are adding more resources to support the UI development and backend integration in February. Hope to demo the progress on the UX by the second week of February. We have created more screens. We would like to demo all of them in a meeting in February. We will get back to you with the update by the second week of February. We have forked the repository to a new organisation to include the team members working on UX and UI. Please find the sample screen added to the README page of the project.

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@gokulalex Do you mind giving a more specific example of how the tokenization of the skills of freelancers would look like?

Hi @erik.chain ,

We consider every non-fungible activities on real world assets as skills. A good example could be the songs as real world assets and singing as a skill. Another example for our consideration is resume as a real world asset and resume writing as a skill. A software program can be an asset and programming is a skill. Through this skill exchange, we want to create a liquid market where people can trade the real world assets in real time by providing tokenised skills in a time locked manner. Gig workforce can initially add their asset data and metadata into the decentralised application and then see the popularity of their assets in the platform. Once they receive a significant and sufficient threshold of rating for the assets, they can enter the skill exchange, by minting the time locked skill token. Once the skill token is minted, they can tokenise the assets and subsequently trade the skills and assets together or separately. Thus there will be two type of tokens per gig worker - skill token and asset token. Time locking is a very important capability for tokenising skills in the gig economy in context of web3 as decentralised digital workforce are not bound to any organisation for unlimited time.

Hope these features and concepts make sense. Request your review. Please let me know if you need any additional details or elaboration of these features.

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Very interesting @gokulalex, I wonder if this could also be related to intellectual property rights?

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@erik.chain , thank you for the recommendation. Intellectual property rights would be a great addition to the skill exchange concept helping us to protect the assets produced in the skill exchange. We will research on how the IPR can be initiated from this skill exchange. I am thinking if there can be a legal contract feature added to the skill exchange to protect the IPR before initiating the trade between parties.

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Dear @gokulalex ,
I am happy to read your offer on extension to NFT market. I see some progress was made towards the UI. However the scope of this application remains the capital market as defined by you above and according to your reporting just the user interface is missing. Could you please finish the current application and make a new one on the NFT market. I consider both markets applications as very valuable contributions to the ae ecosystem.Thank you for your nice ideas and their realization!

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Dear ,

Thank you so much for the kind response. As advised, we will complete the capital markets application first before proceeding with the skill exchange. Is it possible for giving us three more months to complete the capital markets application.

We are in the process of rewriting the capital markets related contracts as we have identified that some of the contract libraries that we have used are not completely relevant to the core functional requirements. It will take another three months for us to come up with the APIs and the UI together with the contracts. I am working with a team of friends and interns for the modules other than the contracts. That is the main constraint.

I could not mobilise a dedicated team last year as I faced issues with the AirGap wallet. I am really sorry for the long delay from our side. It was not intentional. I had a lot of health issues during the peak of covid in India as well. All these factors contributed to this delay. I feel that we have failed the expectations of the AE foundation in terms of the timelines and deliverables.

Looking forward to your advise at this juncture.

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Dear @gokulalex,
Thank you very much for your explanations concerning the delay. We are happy to support your new application too. May be you can work on both of them simultaneously. Sometimes software project have delays but when they produce the good results all users are happy. Hope the corona goes away and you keep healthy.

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Hi @gokulalex ,

I hope all is well, can any updates be provided at this time? :slightly_smiling_face:

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It seems that this time lock has lost the developer lock

We are working on the UI front right now. We faced a few challenges integrating the time locks and the NFTs. It is resolved right now. The smart contract system is being developed as a reusable component for trading asymmetric assets over a secure time lock. We will share further details by next week.

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Myself and @Jkrish1011 are working together on the platform right now. @Jkrish1011 has created a UI and integrated the SuperHero wallet. We are working on implementing the token swap feature along with the time lock. We are making sure that the swap feature would be fail safe. Once it is done, we would be able to integrate the UI with the smart contracts.

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@gokulalex would you like to participate at the Lumos Labs Hackathon with your NFTs prototype so far? Submission deadline is November 1st.

Also please be aware of all changes and discussions being made about the æternity NFT standard AEX-141:

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in regards to NFTs and AEX-141 I want to point out that there are still some details to be defined. the “reference implementation” is already updated but still not to be considered “final”.

in case you have questions around that let me know. check out:

feel free to join discussions

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Dear @gokulalex,
It is one and half year ago as you started the project. Can you please report on the progress?

Dear Dr. @lydia,

We have resumed our development efforts from April 2022 after adding @Jkrish1011 to the team. We have gained momentum after he joined us in this project. We have refined our smart contract framework by consolidating the core logic related to the time locks and NFTs into a single contract. It took us a while to implement this consolidation. We also faced challenges in the integration of time locks and NFTs. We have resolved the initial challenges and implemented basic time lock and NFT functionality recently. However we have identified an issue with the time locks in the process of transferring the NFTs. It is related to ensuring that the trading activities are completed before the time locks are released. We are working on this issue. Once this issue is resolved we will start working on modelling derivatives as NFTs as it requires abstracting time varying values as attributes of NFTs.

Now we are able to do the following functionalities in this smart contract.

  • Minting NFTs
  • Locking NFTs
  • Bidding NFTs
  • Trading NFTs

We have also put together a minimalistic UI with wallet integration. We will share the video recording of our progress at the earliest. We completely understand that our project has failed to meet the expectations of the Aeternity foundation. We could not retrieve the grant amount from the wallet due to the issues that we mentioned earlier. Hence we are completely bootstrapped at the moment. Despite all these challenges and constraints, we are committed to ensure that we will come out with a novel smart contract system on aeternity if you could allow us to continue with the project.

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Dear @gokulalex ,
Thank you very much for the reply and your commitment to finish this application. Looking forward to see your video and future reports.

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