[AV7] - SLOTHS ON THE RUN 🏅

Sloths on the Run is an innovative project that introduces the concept of stable NFTs (sNFTs), providing users with a viable solution in the current cryptocurrency market. By minting an sNFT for $1000 and returning it to the protocol, users can redeem their investment, regardless of fluctuations in the market. This provides users with a sense of security, ensuring that their investment is not subject to market volatility. To further build on this concept, the team is launching a protocol that will provide a profit model for users. The protocol will generate a commission from minting, redeeming, and sending sNFTs. This commission will be distributed to holders in a decentralized manner at fixed intervals, such as a week. The team is dedicated to fixing the issues inherent in conventional De-Fi 2.0 protocols, where early on-boarders benefit greatly, while latecomers lose their investment. In the sNFT protocol, the interest an investor receives will depend on the total value of their sNFTs in the whole protocol pool, irrespective of the time of investment. In essence, an investor with $1M sNFTs in a $10M Total Value Locked (TVL) pool will receive 10% of the shared interest. If there is no transaction during the week, no interest will be generated. This ensures that the time of entry into the protocol does not affect the investor's earning potential. In fact, the last investor standing will benefit the most, as there will be a significant interest generated from redemption commission. This prototype is only the beginning, and the team is committed to developing it further. It is truly a great honor to lay the foundation for our future stable NFT protocol at ETH DENVER.

For Sloths on the Run, Polygon means that users can mint and trade NFTs more efficiently and with lower fees, which can help reduce the barriers to entry for users. This can increase the accessibility of the NFT project and help attract a larger user base. Additionally, since Polygon is built on top of Ethereum, Sloths on the Run can benefit from the network effects of Ethereum's established ecosystem, including wallets, exchanges, and other DeFi applications. Polygon SDK can be beneficial for Sloths on the Run as it provides the flexibility to customize the NFT project to meet specific requirements. Sloths on the Run may want to incorporate specific functionality or features that are not available on other NFT marketplaces. By using the Polygon SDK, Sloths on the Run can create its own custom blockchain that is tailored to its needs. This can provide a unique selling point for the NFT project, which can help differentiate it from other NFT projects and attract more users.

We built Sloths on the Run for Neon-EVM because it offered a unique combination of features that aligned with our goals. The Neon-EVM provides a fast, scalable, and low-cost environment for smart contracts to run on. This was crucial for us as we wanted to ensure that our stable NFT project had fast transaction times and low fees. Additionally, Neon-EVM is compatible with Ethereum smart contracts, which allowed us to easily deploy our existing Ethereum-based smart contracts onto the Neon-EVM chain. Furthermore, the Neon-EVM is highly secure, with a strong focus on preventing fraudulent activities. This is important for our stable NFT project, as we need to ensure the integrity of our assets and transactions. The Neon-EVM also supports a wide range of developer tools and infrastructure, making it easy for us to integrate our project with existing tools and services.

Sloths on the Run, as a stable NFT project, can benefit from being built on Mantle in several ways. Firstly, Mantle's EVM compatibility means that Sloths on the Run can easily integrate with existing Ethereum-based applications and enjoy the security and stability of Ethereum. Secondly, Mantle's modular architecture and data availability solution (EigenDA) can enable Sloths on the Run to scale its NFT minting and trading activities in a secure and low-fee environment, with minimal gas fees. Additionally, Mantle's use of MPC and a decentralized sequencer can further enhance the network's security and resilience against potential attacks. Lastly, Mantle's economic model incentivizes participants to stake $BIT tokens, which contributes to the network's security and stability, further enhancing Sloths on the Run's confidence in the network's reliability. Overall, Mantle's advanced features, EVM compatibility, and efficient network could provide Sloths on the Run with scalability, security, and potential cost savings, all of which could help the project to thrive and succeed in introducing the concept of stable NFTs to the crypto world. Sloths on the Run's stable NFTs offer several benefits for Mantle: - Scalability: Layer-2 chains aim to alleviate the congestion and scalability issues on the main chain, and stable NFTs can help achieve this goal. By creating a stable NFT ecosystem on a Layer-2 chain like Mantle, users can transact with greater speed and efficiency, and the overall performance of the chain can improve significantly. - Increased Adoption: One of the key factors that drive the adoption of a new blockchain network is the availability of attractive use cases. Sloths on the Run's stable NFTs can provide an appealing use case for Mantle, which can help increase the user adoption rate. - Reduced Volatility: By providing a stable value for NFTs, Sloths on the Run can help reduce the volatility on the Mantle. This can create a more stable and predictable environment for users, which can increase their confidence in the network and encourage more usage. - Improved Interoperability: Sloths on the Run's stable NFTs can also help facilitate interoperability between different Layer-2 chains. By creating a common standard for stable NFTs, Sloths on the Run can enable easier transfer of assets between Mantle and other Layer-2 chains, which can create a more connected and robust blockchain ecosystem.

Sloths on the Run supports Fuel Network because of its UTXO-based design that is optimized for maximum scalability. This allows for parallel validation of transactions on consumer-grade hardware and eliminates the state bottleneck, as Fuel's unique fraud proof scheme doesn't require state serialization. Fuel's atomic swap feature also enables fast withdrawals for fungible assets such as ETH and ERC-20 tokens, providing a better user experience than the lengthy finalization delay for other types of withdrawals. Additionally, liquidity providers can offer liquidity for quick withdrawals without systemic risk if they fully validate Fuel blocks before accepting a swap. Furthermore, Fuel Network doesn't require any special key formats or on-chain account registration, making it easy for users to deposit and withdraw funds from the platform. This is particularly useful for a stable NFT project like Sloths on the Run, as it allows users to quickly and easily manage their assets without having to worry about complex or time-consuming registration processes. Overall, Fuel Network's unique features make it an excellent choice for building a stable NFT project like Sloths on the Run, providing fast and efficient transactions that are critical for a successful and scalable project. Our team faced a number of challenging obstacles throughout the development process of Sloths on the Run. In particular, integrating the Fuel wallet into the frontend and implementing mock stablecoins on Fuel testnet posed the greatest difficulties. This marked our initial foray into working with the Fuel wallet, and also represented our first encounter with the creation and usage of mock tokens. Thankfully, the Fuel developer forum proved to be an invaluable resource, and the community's active participation in discussions ultimately enabled us to achieve our goal of successfully building Sloths on the Run on the Fuel Network.