This EIP proposes a standard for creating economically sustainable NFT governance for collections built on collaborative models based on ERC-721. It introduces dynamic minting fees, role-based access control, and a donation-based engagement model to enhance creator-community interactions. These mechanisms aim to balance scarcity, incentivize meaningful participation, and ensure sustainable growth for both creators and contributors.
The model defines “economically sustainable” as tokens whose minting value, creator subscription fees, and token quantity within each progressive discount cycle can only be adjusted once every 30 days from the last update by an ADMIN user. These mechanisms prevent excessive administrative modifications that could disrupt market stability, ensuring consistent price discovery and maintaining participant confidence. By aligning incentives and fostering predictability, the model creates a robust framework for engagement and value creation.
You define the updateTerms function as only being callable by admin users. I’d argue that it is unnecessary to define functions only callable by admins because the admin of a contract will know how to interact with the contract specifically. Other standards, like ERC-20 and ERC-721 intentionally don’t define mint and burn functions because they are unique to each contract. Updating a contract’s terms seems like a similar kind of action.
Same kind of reasoning for mint, burn, pause, etc.
This EIP addresses a specific and different use of collaborative NFTs, where multiple creators can interact and contribute to a collection. This model introduces collaborative governance, with dynamic rules regarding minting fees, participation, and contract updates.
This distinction is essential because, in collaborative projects, it is crucial to ensure the stability and integrity of the system. Functions such as updateTerms, mint, burn, and pause need to be tightly controlled to avoid arbitrary changes and ensure that the participation of all involved is conducted transparently and fairly.
[…] can only be adjusted once every 30 days from the last update […]
This feels like it could/should be a tuneable parameter per contract, and not something specified in the standard itself. In other words, I shouldn’t have to write a new ERC if I want to create a sustainable collaborative NFT collection with a 60 day adjustment window.
This similar kind I want to apply in an attendance monitoring based application where subject teacher will have there individual wallet and each professor can have monitoring of students in Blockchain network where role based permission will be given can u please elaborate how can I apply in this kind of application
That is valid point. Additionally, given that the proposal emphasizes a “sustainable” concept, I suggest enforcing a strict minimum of 30 days for the UPDATE_INTERVAL.
The primary justification for this is the intention to establish terms of use that remain valid for at least approximately one month. Since Solidity does not provide a native time unit for months, a 30-day minimum serves as a practical approximation while preserving deterministic behavior in smart contract execution.
This proposal is ideally applied to CreativeWork as defined by schema.org.
In an online course scenario, platforms could hold the ADMIN_ROLE, professors take the CREATOR_ROLE, and students be assigned the CONTRIBUTOR_ROLE. You’d still need business logic for attendance tracking, and it may not be worth running the logic fully on-chain. If you’d be willing to share more details about your specific use case or requirements, it can be helpful.
Thank you very much sir for your response.I want to send a token for every student at end of the session and this sustainable token will persist for the timestamp of 10 min say along with location details .The Blockchain structure will consist of token timestamp and location,and on the admin side tracking will be performed ,the professor will login through attribute based authentication scheme like subject name and department.Can you suggest can I move with this topic as my research in use case or it may not work ,if yes how to proceed .