One of the possible applications, which could bring actual use cases for Dollar Protocol and interest of people beside s speculations is build IDO (Initial Dex Offering) app. There are lots of projects popping up, which like to rise funds for further development, dex liquidity pool and of course vesting tokens/cash for the period of work time.
I saw use of https://lid.sh/application . Its interesting, not the best, but more legit, then usual telegram funds rise.
My proposal is build something similar, but make USD (in future EUR and YUAN) as main currencies to rise the funds during the presale. People would need to acquire USD to participate in presale. Company which would use IDO application, would need to provide next parameters:
-> soft cap
-> hard cap
-> % tokens team vested
-> vesting time for tokens
-> amount used for DEX / uniswap
-> bonding curve (could be feature)
-> vested USD rised - nobody wants team just dump USD ASAP and run away without finishing their product
-> USD rised for few initial months of work - enough money to do work for few months, can be expected to be dumped on dollar protocol.
As soon as all the parameters will be set, participants in IDO will have full disclosure in UI of the presale, smart contract for such presale will be generated and as we know the code is what we trust.
Steps of IDO:
- Smart contract for presale created, devs lock all the tokens in contract.
- People buy USD to get in presale
- When soft cap reached or hard cap, presale ends.
- Smart contract executes the end of presale:
- part of funds tokens and USD goes in vesting contracts for the team
- part of USD and tokens go in UNISWAP and locked for the year
- part of USD and tokens goes direct to the team
Pluses of this system to members outside of Dollar Protocols is easy and trustworthy way of rising funds for their project, without rug pull or running away with the money. For Dollar Protocol members its good as USD will gain more traction and will let the protocol grow further.
This is just an idea, but hopefully it will give more inspiration here for what we should be looking for on application layer, besides the huge importance of marketing of protocol itself.