TL;DR

• Proposal to whitelist $MONA with 150K BNT Co-investment (0x275f5ad03be0fa221b4c6649b8aee09a42d9412a).
• Integration for Bancor with the Fashion x DeFi bridge enhances interoperability for Bancor and the $MONA liquidity pool across other DeFi protocols and the fashion retail market.
• The $MONA pool draws liquidity from an expanded market beyond DeFi, crypto, NFTs.
• DIGITALAX pioneers a new sector for web3, through digital and physical fashion. This infrastructure is essential for more intrinsic sustainability translating to growth of the entire crypto ecosystem
• Project Website
• Project Whitepaper
• DIGIFIZZY Web3 Metaverse Magazine
• Project Documentation

Project Overview

What the hell is web3 fashion? DIGITALAX is the first web3 fashion protocol, founded last year September 2020.

Is swapping rich digital assets and collections through fashion and skins the key to unfreezing the metaverse as a coherent asset class?

DIGITALAX is here to prove that web3 fashion is the missing bridge that will onboard millions of capital savvy new users into DeFi. We’ve built an entire ecosystem across digital and physical fashion, NFTs, gaming, esports and the metaverse. We are firm believers in the necessity of progressive decentralisation in order to serve the core principles of web3 and are overtime decentralising to have our token holders take over governance through a DAO.

Major Milestones

• ESPA esports integrations

  • Among Us modded content
    • Over $160K sales in $MONA on NFT skins
  • Minecraft Bed Wars tournaments
    • One of the top international servers with thousands of players across Europe, India and the US
  • Roblox Obby tournaments (Launching Soon)
    • Partnered game for integration has a 24 million unique player reach.
  • CS:GO mod tournaments (Launching Soon)
  • Budding developer ecosystem with custom games and mods being built specifically to be launched through ESPA.
    • 2D battle royales
    • MMORPG
    • 2D/3D platformers
  • Over 1800 active players in the ESPA discord server.

• NFT Fashion Marketplace

  • Launched November 2020 (Before NFT hype cycle)
    • Total of 7 sale events (auction + instant buy) with over $600K in sales total.
    • Over 40 digital fashion designers highlighted for the sales events.
    • DIGITALAX Treasury took 0% profit from 2/7 of the auctions and a scale of between 15-20% for the other 5.

• Pioneering Engineering

  • One of the first projects to integrate with Polygon back in early February 2020
  • Developed and implemented the first Multi-Token bridge between Ethereum and Polygon
    • Supports the ERC-998 standard and DIGITALAX variant ERC-998 standard (ERC-721 master tokens and ERC-1155 Child tokens)
    • Entirely open sourced.

Security

All DIGITALAX and $MONA contracts have limited admin permissions, such as; Administrators are not able to move tokens on behalf of token holders. What they can do is update the token URIs for digitalax token metadata to ensure the quality of the NFT data and safeguard against mistakes— all metadata is stored in a dedicated IPFS gateway. Admins can also mint NFTs, but once a token holder receives that token only them or approved parties to their wallet are able to move it. The contracts and addresses with the highest concentration of $MONA tokens are predominantly the token staking contracts and DIGITALAX multi-sig treasury address. The DIGITALAX dev team performs persistent code peer reviews and unit tests across all deployed code, conforming to contribution guidelines. Each solidity contract is cross reviewed with other Solidity devs on the team to make sure there are no vulnerabilities and funds are safe. We pertain to the latest code and syntax standards and ensure our tests have decent test coverage. We check all the important methods in our code with unit tests to make sure there is no risk that value will be lost at any time. Both $MONA and DIGITALAX tokens are under the leadership of the admin team which also coordinates token rewards and token splits between the different NFT and LP staking pools we operate. DIGITALAX uses a system of primary sale prices to decide the awards that any given user receives in a staking pool.

Roles are also split up across our ecosystem for additional protection against exploits and vulnerabilities, including admin roles, minter roles, verified minters that can create open source fractional 1155, and smart contract roles for special contract actions.

Tokenomics

$MONA is the core ERC-20 utility for the DIGITALAX ecosystem.

Recently, the $MONA token supply was increased by 1,300 tokens (Set for early August). This was a small scoped and targeted increase specifically for addressing the market opportunity of onboarding new retail and consumers and arbitraging persistent hungry buyers into the market through hybrid digital and physical fashion, incentivised with DeFi.

This adjustment in the $MONA token supply is followed by a contract freeze on any further minting.

1. 1300 additional $MONA mint;
   • 700 distributed under a vested composite NFT sale.
   • 500 allocated to NFT staking rewards.
   • 100 allocated for the DIGITALAX treasury.

The Vested Composite NFT product is being made available for sale from the end of July/ early August. It allows the holder to stake it in our new to-be-deployed Polygon staking contracts for a composite yield on profits from the DRIP fashion NFT sales combined with vested $MONA distribution ($MONA = DIGITALAX native ERC-20). This new product specifically gives exposure to this arbitrage between fashion, gaming and decentralised technologies.

• A mix of ERC-20s are accepted on DRIP for purchases of the fashion items. 15% of the profits delivered in this dynamic ERC-20 mix will be distributed as a monthly yield to holders of the composite NFT that they have staked in the new contracts. Eligibility for this profit split allocation is supported for 6 months.
• This NFT staking will also include vested $MONA rewards over a 3 month period.
• 1 $MONA is included in the composite index and vested over a period of 3 months where the $MONA is staked for earning further $MONA yield from the NFT staking contracts.

$MONA Token Distribution

Current Holder Distribution

Community and Ecosystem

DIGITALAX’s community consists of designers, developers, modders, gamers, creators and crypto/DeFi enthusiasts. We maintain a regular daily schedule of active communication with our community members across our Medium, Discord, Instagram, Twitter, Telegram, Linkedin and Youtube accounts, and facilitate the continuous growth and connections between them. The founder and CEO, Emma-Jane MacKinnon-Lee, is personally involved across all communications and community operations, ensuring continuous adherence to the integrity, mission and principles of the project.

Activity on Github is also daily across both closed and open repos.

Benefits for Bancor

High level first. Bancor gets:

• A new liquidity pool with high volume.
• The $MONA pool draws liquidity from an expanded market beyond DeFi, crypto, NFTs.
• Integration with the Fashion x DeFi bridge enhances interoperability for Bancor and the $MONA liquidity pool across other DeFi protocols and the fashion retail market.
• A transparent mechanism to convert fashion buyer sentiment into loyalty towards Bancor as a DeFi protocol.
• Hybrid digital-physical NFT merch as a new treasury income stream through a profit split on sales.

We partnered with Bancor and 9 other leading DeFi protocols to create hybrid digital-physical NFT fashion collections, with designs and patterns sourced from our Global Designer Network DAO.

You can get some cool BANCOR PHYSICAL FASHION NFTS HERE!! And stake them for $MONA! Payments in BNT soon to be accepted!

Voter Incentives

Each Bancor voter receives an exclusive Bancor inspired DIGITALAX digital fashion animated NFT collectible. This is for all voters that participate. Voters can vote yes or no and will still receive the digital fashion NFT collectible!