bitsong

Prop 31: Empowering BitSong Studio Contracts Deployment

We propose to grant the BitSong Team the authority to deploy CosmWasm contracts that are crucial for the BitSong Studio (also known as bs-nfts). It's essential to note that the Governance on the BitSong Network has already approved CosmWasm adoption in Proposal 15, setting the stage for this pivotal development. These smart contracts are currently accessible on the BitSong testnet, and users can interact with them via the BitSong Testnet Studio.

Contracts to be Deployed

  1. bs721-base: This contract acts as the foundational layer for bs721 NFTs, meticulously adhering to the BS721 specifications. It's not only deployable but also seamlessly integrable into other contracts, simplifying the creation of bs721-compliant NFTs with custom features.
  2. bs721-metadata-onchain: This is a variation of CW721-metadata-onchain, now enhanced with the MediaType enumeration to improve metadata identification capabilities.
  3. bs721-royalties: An innovative smart contract that simplifies revenue distribution. It automatically shares its balance among a list of contributors based on their respective shares, ensuring a fair distribution of revenue.
  4. bs721-launchparty: Exclusively designed to orchestrate impactful launch events for NFT sales, this contract plays a pivotal role as a coordinator for both bs721-base and bs721-royalties contracts. This ensures the seamless integration and operation of these contracts, adding an exciting dimension to NFT sales.
  5. bs721-curve: A smart contract to create the bs721-curve, a smart contract for minting and burning NFTs (Non-Fungible Tokens) with a price curve and a built-in royalty and referral mechanisms. It is built using CosmWasm and integrates smart contracts bs721, bs721-royalties, and price calculation based on a bonding curve.
  6. bs721-factory: Smart contract utilizzati per istanziare nuovi bs721-launchparty e bs721-curve

Security

These contracts have undergone rigorous internal testing and comprehensive audits. During the initial phase, our key will be designated as the admin for the bs721-royalties and bs721-launchparty contracts. This provision enables us to make prompt updates should any bugs be identified.

Links

Use Cases and Advantages

Deploying these contracts on the BitSong blockchain marks a significant step towards empowering the music industry. It enables a wide array of creative possibilities for artists and musicians within the BitSong ecosystem of services, while enhancing the user experience for everyone involved.

The BitSong ecosystem is designed to provide artists and creators with a complete suite of tools and gamification features. From FanTokens, NFTs, and music streaming to real-time royalty distribution, artists can leverage these tools to perform a multitude of professional actions within the BitSong ecosystem. This ensures a seamless, end-to-end experience, obviating the need to exit the ecosystem for additional operations.

The result? An empowered and vibrant community of musicians and fans, united within a single, integrated ecosystem.

Impact on the BitSong Community

Should this proposal be approved, it will have a profound impact on the BitSong community and the ecosystem at large.

  • Token Holders and Users: They can look forward to enhanced functionalities, creative opportunities, and more engaging experiences. The BitSong ecosystem is set to become a hub for music enthusiasts and professionals alike.
  • BitSong Network: With these added capabilities, BitSong is poised to elevate its position in the broader blockchain space. The network's attractiveness and utility will undoubtedly surge.
  • BitSong Studio: Artists and creators gain access to a more versatile and feature-rich environment that enables new forms of expression and innovative revenue-sharing mechanisms. The BitSong Studio will serve as the creative epicenter for musicians, connecting them to their audience through innovative NFT features.

Community Involvement

We value the input and participation of the BitSong community. As we move forward, we plan to engage with the community through open discussions, feedback collection, and collaboration on future contract developments. A collective approach is our path to a brighter future for BitSong.

Your feedback and insights are highly valuable, and we encourage you to get involved in shaping the future of BitSong Studio. Together, we can continue to innovate and drive progress within our vibrant community.

Let's create a harmonious future for BitSong, one NFT at a time.

Voting

Scenario 1: Approval

  • BitSong community votes "Yes," approving Studio contracts deployment. Team intervention authorized for fixes or malfunctions. Empowering musicians and fans across the BitSong ecosystem.

Scenario 2: Rejection

  • BitSong community votes "No," maintaining the status quo. Proposal doesn't pass, and we continue with our existing approach.

Scenario 3: Abstention

  • BitSong community abstains. Proposal outcome relies on votes cast by those participating.

Scenario 4: Rejection with Veto

  • BitSong community member casts a "No with Veto." Proposal decisively rejected, akin to pulling the plug on the gig.

Wallet to be authorised

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