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Project Description: TELO-KE NFT Staking DApp
Problem Statement
The decentralized finance (DeFi) ecosystem is rapidly growing, but many staking platforms suffer from high transaction fees, limited flexibility, and lack of integration with emerging asset classes like NFTs. Users and administrators need a secure, scalable, and user-friendly staking solution that bridges DeFi with digital collectibles while maintaining transparency and control.
Solution
TELO-KE is a next-generation staking DApp built on Telos EVM, designed to address these challenges head-on. Our platform enables users to stake tokens (fungible and ERC721 NFTs) and earn rewards efficiently, while providing administrators with granular control over staking parameters. By leveraging Telos EVM’s high throughput, low fees, and eco-friendly infrastructure, TELO-KE delivers a seamless and sustainable staking experience.
Key Features
1. Dual Staking Support:
- Stake fungible tokens or ERC721 NFTs to earn rewards.
- Flexible reward calculations based on staking duration and configurable parameters.
2. Dynamic Admin Controls:
- Admins can deposit/withdraw reward tokens and adjust rewards per unit time or time units to optimize the staking pool.
- Role-based access ensures secure management of critical functions.
3. Transparent and Trustless:
- All staking actions (stake, withdraw, claim rewards) emit on-chain events for full auditability.
- Real-time tracking of rewards and staked assets through intuitive interfaces.
4. Telos EVM Integration:
- Built on Telos EVM for near-instant transactions and near-zero gas fees, making micro-staking economically viable.
- Scalable architecture supports high user adoption without compromising performance.
Technical Implementation
- Smart Contracts: Modular Solidity contracts with OpenZeppelin standards for security and upgradability.
- Role-Based Access: Utilizes DEFAULT_ADMIN_ROLE to manage permissions for critical functions like reward distribution and parameter updates.
- ERC721 Compatibility: Supports staking of NFTs, unlocking new use cases for digital collectibles in DeFi.
Why TELO-KE Stands Out
- NFT + DeFi Synergy: Uniquely bridges the NFT and DeFi ecosystems, allowing users to earn rewards from idle NFTs.
- User-Centric Design: Simplifies staking for beginners while offering advanced controls for power users and admins.
- Sustainability: Telos EVM’s energy-efficient consensus mechanism ensures the platform is eco-friendly.
Deployed Contracts:
NFT Contract: 0x02AbaD9BC6e319bfBB30042D30396198621144B1
Reward Token: 0x041914f809943ad74dF30856dF70735f7D207B85
Staking Contract: 0x30FD4D943dfB797106cE0c1506bB0dC9F2b5F413
Impact and Future Vision
TELO-KE aims to democratize access to decentralized staking, empowering both crypto enthusiasts and NFT collectors to unlock value from their assets. Future plans include:
- DAO Integration: Community governance for staking parameter adjustments.
- Cross-Chain Support: Expanding to other EVM-compatible chains.
- Gamification: Introducing tiered rewards and leaderboards to enhance user engagement.
Built for the Future
TELO-KE is not just a staking platform—it’s a gateway to a more inclusive and innovative DeFi ecosystem. By combining Telos EVM’s technical prowess with a focus on usability and flexibility, we’re paving the way for the next wave of decentralized finance.
Join us in redefining staking—one transaction at a time! 🌟
Progress During the Hackathon (3-Day Span) Day 1: Ideation, Smart Contract Setup, and Core Logic We kicked off by finalizing the project scope, focusing on building a DeFi staking platform that supports both fungible tokens and NFTs. We drafted the architecture, prioritizing modular smart contracts for staking, rewards, and admin controls. By the end of Day 1, we had: - Written the core staking logic in Solidity, including time-based reward calculations (rewardsPerUnitTime and timeUnit). - Integrated OpenZeppelin’s AccessControl for role-based permissions (admin vs. user functions). - Started ERC721 compatibility to enable NFT staking, setting up mappings to track staked tokens. Day 2: Frontend Integration and Testing On Day 2, we shifted focus to user experience and contract testing: - Built a minimalist frontend with React, enabling users to stake tokens/NFTs and view rewards. - Added wallet integration (MetaMask and Telos EVM-compatible wallets) for seamless transactions. - Conducted unit tests using Hardhat, covering staking, withdrawals, and reward claims. Fixed critical bugs, such as reward calculation rounding errors and NFT ID tracking issues. - Deployed a preliminary version on Telos Testnet for internal testing. Day 3: Telos EVM Optimization and Final Touches The final day was dedicated to optimization and polish: - Fine-tuned gas usage for Telos EVM’s low-fee environment, ensuring cost-effective transactions. - Streamlined admin controls, allowing real-time updates to rewards and staking parameters without redeploying contracts. - Recorded a demo video showcasing staking, reward claiming, and admin features. - Finalized documentation and prepared the GitHub repo for submission. Key Achievements in 3 Days - Functional staking DApp supporting tokens and NFTs. - Role-based admin controls for secure management. - Seamless integration with Telos EVM (testnet deployment). - Over 85% test coverage for smart contracts. Challenges Overcome - Resolved NFT staking complexity by refining token ID tracking. - Fixed reward distribution bugs under tight deadlines. - Adapted quickly to Telos EVM’s unique configuration for rapid deployment. Submission Ready By Day 3, TELO-KE was demo-ready, with a working prototype, testnet deployment, and clear documentation. The project proved that a scalable, user-friendly staking platform could be built in just 72 hours, leveraging Telos EVM’s speed and affordability. Next Steps Post-hackathon, we plan to launch on Telos Mainnet and add DAO governance for community-driven updates.
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