Smile Protocol

Smile Protocol: Revolutionizing Public Goods Donation with an Ingenious Financial Model

Smile Protocol emerges as a beacon in the ever-evolving world of blockchain and decentralized finance, offering a cutting-edge donation platform tailored for the next generation of public goods. Inspired by trailblazers like Giveth and Gitcoin, Smile Protocol integrates their best practices while introducing its own groundbreaking innovations.

Central to its design is a reward pool that incentivizes donors, ensuring sustained and impactful donations. A distinguishing feature is the "peer-by-peer" impact measurement process, which allocates funds based on the genuine impact of projects.

Here's a glimpse into its operational brilliance:

NFT Rewards & Governance: Donors receive an NFT upon supporting projects, granting them dual governance rights - both project-specific and platform-wide. Voting Periods: Post-support and NFT distribution, voting periods are initiated. Everyone votes for their top impactful project, but can't vote for projects they hold NFTs for, ensuring unbiased community-driven evaluations. Reward Distribution: Votes determine the distribution of the reward pool, favoring the supporters of top-impact projects. Addressing a known shortfall in platforms like Gitcoin, Smile Protocol introduces project-specific governance via NFTs. Donors, rather than placing blind trust, maintain control over contributed funds. Project owners must seek permission to access funds. Three failed requests to access funds deactivate a project, and donors get reimbursed.

But what fuels this dynamic ecosystem? Smile Protocol's ingenious monetization:

Staking Stablecoins: Staking stablecoins like DAI rewards users, with a small fee benefiting the platform. This steady revenue stream solidifies Smile Protocol's foundation. NFT Sales and Transfers: Beyond governance, NFTs offer another fiscal advantage. Transfers and sales come with a modest fee, generating revenue for the platform with each transaction. All collected fees fortify the platform's reward pool, creating a self-sustaining support mechanism for both projects and donors. This virtuous cycle of growth and reward ensures Smile Protocol's lasting impact and endurance in the decentralized landscape.

In summary, Smile Protocol stands as a visionary melding of altruism and sustainable finance, setting new standards in how we support and govern public goods in the digital age.

Our project is a fusion of cutting-edge decentralized technologies. We utilized the Ethereum Attestation Service for validating the Smile Protocol's voting and donations, ensuring transparency and trustworthiness.

To break down blockchain boundaries, we integrated Chainlink's CCIP. This groundbreaking infrastructure allows us to operate cross-chain, bringing unprecedented interoperability to our protocol.

On the frontend, NextJS and Tailwind CSS were our tools of choice, giving us speed and a sleek design. The Wagmi library further enhanced our user experience, streamlining various functionalities.

Our backend, built with TypeScript and JavaScript, efficiently handles complex operations like attestations, ensuring peak performance.

In essence, by embracing sponsor technologies like Chainlink, we've pushed our project's boundaries, both in terms of capability and innovation.