Proposal to Upgrade ELDA Runes NFTs Token Standard to BEP-1155 (ERC-1155)

Proposal to Upgrade ELDA Runes NFTs Token Standard to BEP-1155 (ERC-1155)

Proposal Overview:

We’re proposing to upgrade the current token standard of ELDA Runes Utility NFT collection from BEP-721 (ERC-721) to BEP-1155 (ERC-1155). This change is being considered due to technical challenges and cost-related issues that have arisen in fulfilling "boost" feature utilities as originally promised to our community under the BEP-721 standard.

Rationale:

Technical Challenges: Under the current BEP-721 standard, we have encountered technical limitations in implementing certain features, particularly related to boosting utilities. These challenges have hindered our ability to provide a seamless and rewarding experience to our community members.

Cost Efficiency: The upgrade to BEP-1155 will offer cost efficiencies in managing and interacting with our NFT collection smart contracts. This is essential to ensure sustainable growth and continued support for our community.

Enhanced Features: BEP-1155 provides advanced features that will benefit our community. Most notably, it allows for staking multiple ELDA Runes NFTs across different rarities in a single transaction, and batch upgrading of ELDA Runes NFTs. These features will enhance the utility and value of our NFTs.

Proposed Changes:

Upgrade the existing BEP-721 smart contracts to conform to the BEP-1155 token standard.

Migrate all existing ELDA Runes Utility NFTs from BEP-721 to BEP-1155 while ensuring that all ownership and metadata remain intact.

Community Benefits:

Improved functionality and utility of ELDA Runes NFTs. Cost savings for community members when interacting with our NFT contracts. Simplified and enhanced staking and upgrading experiences. Greater flexibility in managing NFT collections and rarities.

Voting Process: This proposal will be subject to a community vote on snapshot.org. Each member of our community will have the opportunity to cast their vote and voice their opinion on this important upgrade.

Conclusion: We believe that upgrading our NFT token standard to BEP-1155 is a necessary step to address technical challenges, reduce costs, and enhance the features available to our community. We encourage all members to participate in the voting process and help shape the future of our NFT collection.

Thank you for your continued support.