atilatech / smart

Harbeger NFTs: Price Things based on how much the owner values it

Smart

Smart art smart contracts.

Smart is a collection of smart contracts for tokenizing art using NFTs.

Remember, everything is art, so you can use this to tokenize all the things.

About

This project implements Harberger Taxes using NFTs. A Harberger Tax is a tax scheme where the owner of the asset picks the price at which they value an asset. The owner then pays a recurring tax on that self-assesed value. Anyone can force the owner to sell it to them if they offer to buy the asset at the price set by the seller. This incentivizes people to give an accurate estimate of how much they value the asset.

A High-level walkthrough for the NFT implementation of a Harbeger Tax:

1. Create an NFT
2. Set the LIST_PRICE
3. Someone buys the NFT for LIST_PRICE
   1. Buyer sets a new LIST_PRICE and pays a recurring NFT_TAX_PERCENTAGE on the new LIST_PRICE to the creator
4. If there is an unpaid tax balance, the creator may claim the asset back
5. At any time, anyone may buy the asset for LIST_PRICE

Streaming Payments

In addition to a Harberger tax, we tried to add a payment stream to the Harbeger NFT. The idea is that instead of having to remember to pay your balance each time it's due, you can simply stream your tax payments automatically to the creator.

Background

Smart was built during the ETHNYC 2022 Hackathon (Hackathon Pull Request).

We were inspired by Yos Riady's blog post, Harbeger Taxes on Ethereum and Yos and Melodie Sim's Hackathon project, Patronage Collectibles.

Project Structure

The smart contracts can be found in server/contracts

The UI for interacting with the smart contracts can be found in client

The Contracts were deployed to the Ethereum Rinkeby, Polygon Mumbai and Optimism Kovan testnets. You can find a list of the deployed contract addresses in the contracts section.

In hindsight, the smart contracts and client code would have gone into one folder. However, this structure was chosen because during the ETHNYC hackathon hackathon, the original idea was to create smart contracts dynamically via an API. We ended up pivoting the idea slightly and didn't have enough time to refactor the code.

Quickstart

Server

cd server
yarn install
npx tsc
npx hardhat compile
cp src/artifacts ../client/src/artifacts

Client

cd client
yarn install
yarn start

Server Instructions

Verifying Smart Contracts

npx hardhat verify --network rinkeby \
0xb275e2ebbd2d381390ad3c229df0ec3dd0e9edf5 

"0x27f7e8d7c63c414eae2bb07e1a9b9057a1d382cf" "0x27f7e8d7c63c414eae2bb07e1a9b9057a1d382cf" 250

Appendix

Improvements

• Call _transferFrom function when token is transferred (_changeOwner)
• Do we have to re-implement all the OpenZeppelin ERC721, is there way to ovveride non-virtual
• making the tax frequency too soon makes it harder to pay taxes before it increases again
• Superfluid docs
• Hard to get Optimistic Kovan faucet

Why was the name Smart chosen?

The name smart was chosen because it's a play on the word smart contracts, it contains the word art and most importantly, it reminds us that we're all smart.

We're all Smart

According to the dictionary: Smart means

having or showing a quick-witted intelligence.

Intelligence means

the ability to learn or understand or to deal with new or trying situations

Basically, anytime you learn something new, it means you're being smart. If you're reading this for the first time, you're being smart right now. You're acting smart a lot more than you realize. Which means you're smarter than you think.

Everything is art

When peple hear that "Smart is a collection of smart contracts for tokenizing art using NFTs.", they might think that means it can only be used for things like art or paintings.

This is because when people think of art, they think of visual arts like paintings, audio arts like music media arts like books and movies. However, according to the dictionary and Wikipedia, art is basically anything that we humans create.

1: skill acquired by experience, study, or observation 2: a branch of learning 3: an occupation requiring knowledge or skill

dictionary

1: skill acquired by experience, study, or observation 2: a branch of learning 3: an occupation requiring knowledge or skill

dictionary

This means that anytime you do something using a skill you've learned, you've made art. This also means that art can be anything from a great song, to a brilliant piece of code, to a life-saving drug, a clever economic concept, to a brilliant athletic maneuver.

TODO: Add links to each example. Think about how to handle the subjectivity of examples and links.

Note: We are merely using the dictionary here to make my arguements more convincing. appealing to authority. The definitions of words are social constructs so society determines what a word means not the dictionary. See: Did We Change the Definition of 'Literally'?

Deployed Contracts

Ethereum

NFT deployed to Ethereum (Rinkeby): https://rinkeby.etherscan.io/address/0x774f0ebcc5b481bd07f6ce7cf1a5ad69d52181ca

Backup: https://rinkeby.etherscan.io/address/0x562fb8007be0fbd2c6be21fc557a45d89f8ba31a

Polygon

NFT deployed to Polygon (Mumbai): https://mumbai.polygonscan.com/address/0x5fbc39092373b0e1c125c0e29c01e12045d3fe81

Optimism

NFT deployed to Optimism (Kovan): https://kovan-optimistic.etherscan.io/address/0x290541b82b151cdc05ea1af04fe74f6d7633ccdc