Bid To Earn

Problem Statement

Bid To Earn 🤯NFT SellersEarn from each bid on your NFT 😍NFT BiddersAre you frequently outbid? Now you can earn from it! 😎Protocol detailsNFT Sellers transfer their NFTs to BidToEarn (B2E) contract specifying the trade currency, sell price, and its expiry. This triggers a mint of B2E-NFT initially owned by the contract.Bidders bid on the NFT by buying the B2E-NFT. On each successful bid, a fee is taken to —put into a pool for the NFT seller.reimburse the fee taken from the last bidder, and also to reward them on top of it.Thus, it awards all the participants in the protocol —NFT seller is rewarded through fee collected on each bid.The last bidder gets the NFT.All the previous bidders gets a reward when they are outbid. Thus, more and more people are incentivized to participate in the protocol.Finally, when B2E-NFT expires, anyone can execute the NFT trade between the contract and B2E-NFT holder. This also transfers the extra rewards to the seller.

Solution

Bootstrapped with scaffold-eth to get nice eth-hooks to interact with deployed smart contracts.It uses React and antd for front-end components.Solidity for Smart contract and Polygon as the blockchain of choice. Every actor in the protocol benefits and thus all them are incentivized to use it.