XIP#7 Grant Request: HYYPE, an NFTX ecosystem project
AI summary
This proposal requests a grant to fund the development of Hyype, a new NFT social platform. Hyype aims to improve the social discovery of NFTs and will operate as its own decentralized autonomous organization (DAO) with its own governance token. A significant portion (60%) of Hyype's governance tokens will be distributed to existing NFTX token holders.
If passed, NFTX will provide a grant to the Hyype team for 12 weeks of development, expanding the NFTX ecosystem into social NFT discovery. NFTX token holders will benefit by receiving 60% of Hyype's future governance tokens, while the NFTX treasury will fund the development. The exact dollar amount of the grant is not specified in the proposal, so the financial impact on the treasury cannot be determined.
Voting results
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Authors
ChopChop
Glossary
NFTX Ecosystem
Summary
This proposal is intended to give out a builder grant for the founder squad working on Hyype, an NFT social platform for people connecting with each other, which uses NFTs as the main medium or content. The exact terms of the grant and the team's roadmap are listed under specifications.
Hyype will function as its own DAO with its own governance token, which will be mainly (60%) distributed to NFTX token holders.
Rationale
NFTX is growing rapidly, becoming the number one platform and protocol for launching NFT index funds. With pr…