Perpetual Staking Contracts - Brick Buidler

[kenny]

Hey everybody, Kenny been around Harmony for a while, building a better approach to native staking through a Metaverse UI on gather.town.

Okay enough about Me.

A little while ago I was sitting in the office when I was approached by someone going by the name Buidl0. Buidl0 represented a group of crypto purists that saw the downturn as an opportunity to “Buidl Back Better”. They chose Harmony for two reasons, the ability to create “perpetual funding?” contracts, and because the Harmony community walked “the right path”.

Here’s a screenshot of one of our meetings.

They told me if I wanted the position to put up an advertisement for the Brick Buidlers, a utility NFT with a dedicated support staff. Done!

Last week they offered me the job and gave me a ton more info.

Basically the internship involves slinging Bricks and building a community from scratch, editing, testing and deploying smart contracts and if I sell enough Bricks they said the community should be able to fund a salary if they want to. Encouraging LOL.

I wasn’t convinced until I dived into the smart contracts they had built, which were quite simple and creative. They allowed proceeds from the sale of Bricks to enter into a treasury contract that could be used for native staking and the withdrawal of rewards but not the principal.

This creates perpetual funding from native staking rewards to an operational treasury account controlled by the Brick Buidlers that can never be drained .

They also created a few other utility features for the Brick that I am currently testing out which enhance the staking experience s.

Sooo my question is wtf ? Is this real, am I getting scammed to scam you. I feel like i’m being brought into some sort of secret society lmao.

Thoughts, is it worth continuing this crazy internship turned quest?

If you were a Brick investor what would you want me to do as your intern?

[kenny]

Okay so Origin Story wasn’t great as pointed out by @sick_of_this on reddit. Hopefully though you will like the Tech.

This is a Brick there are many like it but this one can be yours.

Each Brick is an ERC721 and costs 100 ONE. That 100 ONE goes into a perpetual staking contract permanently. The rewards earned from the staking contract are withdrawn to an operational treasury account for community proposals.

DAOs face uncertain financial futures. Perpetual staking contracts have the ability to fund them at a stable rate in native ONE forever.

DAOs also face treasury security concerns. Improper reward expenditures on a proposal are possible, but no one, not even the contract creator can drain the account.

Benefits of :
Smart Contract Staking is relatively new to Harmony but this powerful method allows for enhanced security and further use cases for staked ONE.

Each Brick controls access to a Personal Smart Contract Vault for delegating ONE. This doesn’t seem very powerful at first but think of the Brick as the key to the staking vault. Now let’s say following best security practices I change my hot wallet address every few months. I would have to undelegate, wait epochs, transfer to new address , redelegate. Or I can just send the Brick to a new address, Done.

Hardware Wallets are even better for security, but not great for user experience. Your Brick allows you to grant treasury roles to your hot wallet addresses, like MetaMask, to delegate, undelegate and collect rewards without the ability to withdraw. This noncustodial treasurer role is the same method we utilize to assist our clients with their staking needs without having access to their funds.

Bricks also add liquidity, with the ability to sell or lend against your Brick Vault and its locked ONE.

Last but not least. A Metaverse User Interface utilizing a 2d like Pokemon office atmosphere and actual human support(If we sell enough Bricks) for the community. Currently we have live staking across 32 of the best validators using a Scaffold-ETH frontend and a delegateCall smart contract to communicate with the staking precompile. We have found the gas fee to be significantly less utilizing MetaMask, clocking in at 0.00162095 ONE to delegate @ 35 GWEI gas price compared to 0.2 ONE utilizing staking.harmony.

With current pricing at a little over $4 a Brick you really can’t go wrong.

[GeorgeofEmmaInterest]

This has to be one of the strangest threads I have ever seen.

There was one post saying he got scammed by you.

Now you post saying that it is part of the platform?

[kenny]

Ha @sick_of_this said it best on reddit

Sorry if the tone was intended, but this literally reads like an advertisement for whatever this Brick Buidler thing is.

“Hey what are your thoughts on X? Oh btw, X has so and so features which are oh sooo creative and cool”

[sick_of_this]

Hey @kenny! Glad you expanded on the project details a bit further.

This sounds interesting and unique. I don’t think I’ve heard of anything like this on Harmony.

That said, I don’t think I have the technical expertise to properly understand the pros/cons of something like this so I’ll still withhold any opinion. Would be great if someone from the Harmony team shared their thoughts on this.

If it turns out to be something positive, I’d love to follow how the project develops!

@GeorgeofEmmaInterest just to clarify, there was no actual scam lol. That was just the guy’s method of presentation of the proposal and project features. I was a bit confused at first too.

[kenny]

Perpetual Staking Contracts: Experimental DAO Funding