The CWS ecosystem offers a more decentralized and equitable consensus mechanism to secure and grow its ecosystem that we call the Proof-of-NFT mechanism. This in turn promotes a vibrant ecosystem that rewards participants for their engagement and participation.
The CWS ecosystem is built on the concept of utilizing NFTs as nodes through a unique mechanism called Proof-of-NFT. This is achieved through three key contracts — the Shipwreck Reef, the Pirates Booty Bay, and the CWS ERC-721, creating the Triangle of Death. This metaphorical term describes the process that protects and grows the CWS network. Let’s dive deeper into how this works.
The Shipwreck Reef contract generates gas from royalty sales and redistributes it to NFT holders via The Pirates Booty Bay. With every sale, there is ETH redistributed back to NFT holders so that they can either claim that ETH or keep it to act as a Floor Price. The NFT Floor Price is a crucial concept in the world of NFTs, representing the minimum price at which a particular NFT can be sold. However, the NFT Floor Price on OpenSea is typically represented by the Ask Price, which is a price at which the seller is willing to sell their NFT. With The CWS ecosystem, each NFT has a real ETH Floor Price that can be claimed by the owner of the NFT. This creates a more transparent and reliable system that benefits both buyers and sellers.
The Pirates Booty Bay is a non-locking smart contract, which means that NFT holders do not need to lock their tokens to receive rewards. However, a future staking contract is planned, which will offer additional rewards for locked NFTs. In addition, The CWS ecosystem also features the Mangrove Lagoon and the Pirates Booty Bay contracts, which are NFT streams that redistribute tokens to the community. This creates a decentralized system where NFTs act as nodes, and participants are incentivized to hold their NFTs, further strengthening the CWS Ecosystem Network via the Proof-of-NFT mechanism.
The maritime and pirate navigation metaphor is not just for show. The Shipwreck Reef represents the dangers of navigating the high seas, and the Pirates Booty Bay represents the reward for successfully navigating those dangers. The CWS ERC-721 represents the ship that carries the sailors through their journey, providing protection and guidance along the way.
The CWS ecosystem is at the forefront of innovation in the world of blockchain technology. By utilizing NFTs as network nodes through the Proof-of-NFT mechanism, The CWS ecosystem offers a more decentralized and equitable consensus mechanism that rewards participants for their engagement.
The Pirates Booty Bay is Live! You can start claiming ETH as NFTs are sold on the market.
CWS is an experimental nft crypto defi game project built around the concept of marine ecosystems. CWS aims to create a sustainable and community-driven ecosystem for its users. The project allows active users to earn token rewards through token staking, NFT ownership, and more.
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