[PLP#0001] marketplace.lucidao.com

With the aim to fulfill Lucidao.com’s purpose and therefore to bridge crypto and real worlds I’m proposing the deployment of a fully decentralized marketplace protocol where DAO validated Oracles can post and sell their goods and services to crypto holders. The dApp would work only as a tech enabler by providing the connection between the Platform Users and Oracles, by certifying the transactions.

During a beta phase, the marketplace could focus on luxury goods in particular on Watches. Subsequently, once the marketplace is fully functioning, there could be the possibility to add further categories such as cars, art, wines, etc…

In order to be eligible to post goods/services for sale, Oracles will have to provide a proven track record of transactions and business structure related to the product/service they are willing to provide on the marketplace. Once the aspiring Oracle is certified by Lucidao team the DAO Governance, through its voting system, will decide whether the Oracle is accepted or not.

During the Marketplace beta phase, goods can be purchased in two ways:

1. Purchase certified collectibles using cryptocurrencies. The crypto holder will make the transaction at the requested price. The goods are then shipped to the buyers address thanks to our certified courier.
2. Purchase the ownership of the collectibles in the form of an NFT. In this case the crypto holder will make the transaction at the requested price.

  • The buyer will receive an NFT representing the ownership of the purchased goods.
  • The NFT will be claimable anytime: once the goods are shipped or collected; the token representing the ownership will be destroyed
  • During the time purchased goods are not claimed by the buyers, they are stored in Oracle’s secure caveau.

Products on the marketplace will be purchasable initially with stable coins such as fUSDT, MIM and USDC on Fantom Opera network. LCD utility token won’t be used as a means of payment but as a platform fee in exchange to the access to the technology.

The first Oracle that would be willing to participate on the Beta phase is:

-The Watch Boutique: A company specialized in the trading of watches based in New York, Luxembourg, Switzerland and Italy.

During the beta, the oracle will put its watches for sale on the platform and will provide each piece with certified expertise in the form of a NFT guaranteeing the authenticity of the product.

Next steps

Consider this PLP as a starting point of discussion in order to build Lucidao protocol’s first DApp.
Once this proposal gains traction the Policy team will evaluate the execution and move it to FLPs section giving the chance to the community to vote for its development

12 Likes

The Policy team has structured this to be the primary dApp of the Lucidao ecosystem. Imagine buying and selling luxury items using your cryptocurrency in a frictionless and legal manner. This could be the first true bridge between crypto and real world assets.

The LCD token will be a true utility token where users will need to hold LCD in order to buy and sell collectables. LCD utility token won’t be used as a means of payment, but as a platform fee in exchange to access the technology.

The marketplace will allow both buyers and certified sellers to interact and trade using cryptocurrencies. This will mean that our sellers (Oracles) need to be vetted, certified and voted for by the DAO. Allowing only high quality, legitimate sellers into the Lucidao ecosystem.

Oracles can be divided in tiers based on their willingness to contribute to the dApp’s success. They can stake LP tokens (i.e. FTM/LCD) in order to be entitled with the Oracle status. This will provide the Oracle to be fully invested in the protocol fairly.

Oracle Tier Options; for example:

1st Tier Oracles [>$30k LP tokens]

2nd Tier Oracles [>$60k LP tokens]

3rd Tier Oracles [>$100k LP tokens]

Tiers’ benefits could include:

  • Reduction on platform’s fees
  • Possibility to post more insertions on the marketplace
7 Likes

Great idea for providing more liquidity and help the project grow! How long does the oracle take to have the lp to access the tier? I think we need some kind of time lock for oracles lp to avoid pump and dump from them!!

3 Likes

Hello ToTo,
What a great insight. We could surely lock those LPs. This will guarantee that the Oracle is working fairly over time!
Maybe I can add it when we move to the FLP (Final Lucidao Proposal).

If you have any other insights I’ll be happy to hear about it

3 Likes