Introduction
DolphinFi is a new generation of DEX that tailored to the Story Protocol’s IP-Fi Marketplace
We are building a solution that supports IP-Assets complex licensing, remixing process with more creator-focused pricing structures. This contract is a marketplace for Story Protocol’s users to list, buy, and remix each registered IP-Assets.
The Purpose
Limited liquidity are visible for IP-related assets.
The limited number of exchanges and participants in the market makes it challenging to trade IP-related assets, which limits the ability to create and distribute value.
The collaboration of creators, fans, degens, and traders collectively forms supply chains enhances network effects.
The Creator Economy, where the underlying dynamics are intangibles, without a clear-cut boundary between customers and producers, such as what we have observed from the emergence of Key Opinion Leaders (KOL).
An effective value chains can help with users’ growth and create long-lasting value for users.
As of August 21, 2023, friend.tech boasts an impressive user base of over 80,000 users, with over $25 million in fee generated.
The Problem
Most reputable IP assets still reside in the Web2 space, and these assets face significant challenges in preserving their long-term value when transitioning to the Web3 space.
Lack of incentive for various creators to provide access to other creators in the industry makes it difficult to form a well-integrated supply chain. This means that potential opportunities for collaboration and innovation are often missed, and value is not fully realized.
Some of the existing DEXs are not very capital efficient and settlement is conditional on successful execution and availability of LPs.
Our Solution
The new generation of the DEX (Pro DEX) is designed with a new pricing structure and IP-remixing feature
DEX to provide Pro Experience
No requirement for liquidity provision or counterparty, making it significantly more time and capital efficient. Price sensitivities are adjusted for each remix, rather than extrapolating on linear relationships between quantity and price, enhancing flexibility and responsiveness.
A new Price Discovery Model
Our price discovery model is similar in nature to that of Uniswap V2 or Friend.Tech, but materially different in the following ways:
Remix Feature
Each time remixes take place, it results in new and diverse creative contributions that can help the specific IPA collection to expand. Remix removes price caps, which can stimulate innovation and creativity within the market. This may lead to the continuous development of a new tradable asset, and/or encourage the vertical recreation of IP novelty.
The utilization of 1:1 remixing allows creators to focus on specific parts of an IP. 2:1 remix involves combining the pay-off profiles of two distinct assets, essentially resulting in a composite of the original assets’ pay-offs. This leads to a more complex and potentially lucrative pay-off profile that reflects the combined attributes and market potential of the blended assets.
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