This proposal uses content from and is to be viewed in conjunction with the following ideation:
And web page:
Since EIP-1559, Ethereum is now becoming ultra sound money, it is in the transition to become a deflationary asset. LONDON gifts are a homage to EIP-1559; it is a logical conclusion that they should be deflationary. This project will design and implement the systems required to do so with the intention that the mechanics will encourage gift holders to take part in the burning process. By completing a burn of LONDON gifts the user will be rewarded with n*2-1 embers in return.
The reason for making this project is to further community engagement, increase $LONDON funds in the treasury, deflate the supply of LONDON gifts whilst simultaneously curating the series. It is also an opportunity to include a new wave of LONDON holders, and reward existing holders.
Scope of work
The scope of the work is outlined in the design document and webpage above, and at the very least requires new generative artwork for new Embers, both front end and smart contracts for the burning mechanism and shop for purchasing Embers for new users, and an airdrop to existing gift and $LONDON holders.
Specification can be found at the links above.
Team members are @eskalexia and @dave4506 working on design and implementation respectively.
Funding will be required for two members of the DAO to complete the work for this project.
Both David Sun and Eskalexia Bawks will receive equal rewards of 162,500 LONDON and 1 ETH each, to cover the time and effort put into the design and implementation of the project.
Implementation work to be completed and project launched.