MAD DAO - Radical Public Lease and Advertisement Bundle Auction Protocol

by 0x2b7f0615979edddeaf83bfec23f66fb5a6d177a4

Should the following Tier 5: up to $120,000 USD, 6 months vesting (1 month cliff) grant in the Community category be approved?

Abstract

MAD is dedicated to facilitating interaction in the metaverse and maximizing virtual land utilization. MAD provides a decentralized protocol for landowners to monetize their virtual lands: landowners can stake lands to MAD and generate yield through two MAD products: Radical Public Leasing and Advertisement Batched Auction.

Radical Market is a land renting marketplace with dynamic interest rates based on supply and demand. It lowers the bar for people to enter the metaverse. For the lands that are not leased out in the radical marketplace, MAD builds billboards on top of them with ads placeholders and employs a bundling auction strategy: all land estates are batched together as a single combined bid to achieve maximum exposure.

Grant size

100,000 USD

Beneficiary address

0x2B7F0615979eddDeAF83BFEC23F66fb5a6D177A4

Description

Many metaverse spaces separate ownership from utilization rights. Still, there is no efficient market for players to obtain this utilization right, making it difficult for users to build in the metaverse. MAD Radical Market is a use right market where players can access the operational rights of land. Radical Market is a decentralized protocol that establishes a land renting marketplace with dynamic interest rates based on supply and demand.

MAD Radical Public Lease land supply builds on DAO-owned Land Pool and community land pool. MAD will raise money to acquire land across metaverse spaces and put it into the DAO-owned Land Pool. MAD will also call for the community landowners to stake lands to MAD in order to list land in the radical market as a source of additional interest. Users who own metaverse lands or estates can stake their land to MAD. After they stake their asset to MAD, we mint a MAD NFT to the landowner in exchange. Once a user stakes his land, the user can still operate the NFT, such as transferring ownership while staking.

We believe that virtual land is only as valuable as what we build on it. To better utilize the lands in the land pool and leave no land empty, MAD builders build billboards with ads placeholders on top of all lands that are not leased out in the radical market and batch auction all unused land advertising rights to the public. The bundling strategy is ideal for both landowners and advertisers: with a collection of lands, the value of parcels will increase and can put the lands into greater use; for the advertisers, with larger and more land parcels, they will gain more exposure to their business.

Why are we applying for Decentraland Grant?

Currently MAD is at a very early stage and we are raising money from the community to support the development. Decentraland dev documents are the most well structured and easiest to integrate among the major metaverse platforms. It allows us to interface with the smart contract and elaborates the functionalities such as land operator, land manager, etc. We are confident to build out the entire product on top of Decentraland functionalities and eager to get support and feedback from the first metaverse platform that we are building on.

How MAD can benefit Decentraland Community

Landowners Community

MAD protocol can help the existing Decentraland Landowners monetize and generate additional interest on the land assets through Radical Market and Advertisement Batch Auction. \MAD can also help landowners who don't know how to build easily find builders through our buildersDAO bounty board.

Builders

Decentraland has an excellent builders community who are passionate and eager to build. Under MAD there’s a buildersDAO where builders can find bounties more efficiently, and our product Radical Public Lease allows them to get into the space at a lower price. It is essential to both the builders and the Decentraland game because, on the one hand, the feature lowers the bar for both existing and potential builders to get into the space and build. On the other hand, getting more builders to the space is what all metaverse platforms want: we want the world with fully creative builds.

General Community

MAD’s Ads Batch Auction and Radical Public Lease lower the bar for the general public to enter the space. Building on top of Decentraland, MAD could attract more people into the Decentraland world.

Specification

Front end framework: Typescript React

Product 1: Radical Public Lease

• Listing from DAO owned land pool and staking land pool [Smart Contract & Front end]
• Bidding [Smart Contract & Front end]
  • Harberger Tax employed here. see rules: https://medium.com/metaverse-advertisement-dao/introducing-metaverse-advertisement-dao-the-radical-market-6edb1a8ae7e5
• Set Builder [Smart Contract]
  • After a user successfully bids on a land parcel, the landowner can set the builder directly on MAD interface. Here we call dcl setoperator() function.

Product 2: Ads Batch Auction

• Set MAD builder address as operator of the unused lands in the radical market [Smart Contract]
• Auto deploy billboards over all unused land parcels [decentraland builders sdk]
• Auction; Auctions are held once per epoch and a single epoch is for two week. [Smart Contract & Front End]
• Auction winner uploads ads content; auction winner can upload the ads poster on MAD. Then we automatically deploy the poster over all the unused lands. [front end + back end + decentraland builders sdk]

Land Staking

• Show landowners’ land data[Smart Contract Subgraph & Front end]
• Land Staking [Smart Contract & Front end]
• Yield Farming [Smart Contract & Front end]
• Profit Breakdown [Front end]

Personnel

Claire Ma - VR Researcher/ DAO Moderator
https://www.clairema.com/
Mike Ma - Community Moderator
Neptune - DAO Builder (Smart Contract)
https://github.com/boyuanx
John Wu - DAO Builder
Jordan Bettencourt - DAO Builder (Front-end dev)
https://github.com/jbettenc
Marcos - BuildersDAO Moderator
Olivia - Branding & Product Designer

Roadmap and milestones

Product

January 2022 - Advertising Auction Demo @EthGlobal
March 2022 - Radical Market Demo @BuildQuest Hackathon
Mid May 2022 - Radical Market Launch (with MAD DAO owned land)
Mid August 2022 - Advertisement Auction Launch
December 2022- Open staking portal for landowners
2023 - expand to more metaverse spaces

Smart Contract

Mid May 2022 - Finish Contract and Start Audit

Vote on this proposal on the Decentraland DAO