# The DaVinci Project DaVinci is a revolutionary web3 collaborative generative AI art experiment comprised of 8,888 liquidity-backed NFT artworks, built on the ERC404 protocol, and created by the community of holders in collaboration with AI.
# DaVinci Project Introduction *TL:DR: The DaVinci Project merges community, AI and ERC404 to transform NFT owners into creators, crafting a new chapter in digital art where each piece is a unique, collaborative creation between human and machine.* \ The **DaVinci project** stands as a groundbreaking venture in the digital art and blockchain space, blending the realms of creativity and technology in a way that has never been seen before. This innovative project empowers the holders of the NFTs to become creators themselves, offering them a unique opportunity to generate art through the assistance of AI. It's a dynamic experiment within the NFT domain, where the traditional roles of artist and collector merge, allowing the NFT owners to actively participate in the creation process of their digital assets. By leveraging the blockchain to preserve each piece of art, the project ensures the permanence and uniqueness of every creation, making each NFT a timeless piece of digital history. The use of AI in this creative process is not just a tool but a collaborative partner, enabling the birth of art that is both innovative and reflective of the individuality of its creator. This symbiotic relationship between human creativity and artificial intelligence opens new avenues for exploration in the art world, challenging conventional notions of authorship and artistic creation. The DaVinci NFT project is more than an art experiment; it's a testament to the evolving relationship between humans and technology, and a celebration of the boundless potential of collaborative creation. It heralds a new era for the NFT marketplace, where the value is not just in the ownership of digital assets, but in the unique journey of their creation. This initiative not only democratizes art creation but also enriches the NFT ecosystem with a new layer of depth and meaning, inviting artists, collectors, and enthusiasts to witness and participate in the unfolding of a new chapter in digital art history. ### **Why ERC404?** The ERC404 standard ushers in a new era of blockchain innovation, melding the liquidity and universality of ERC20 tokens with the uniqueness and collectibility of ERC721 NFTs into a singular, pioneering framework. This synthesis aims to address and surmount prevailing challenges within the digital asset space, including liquidity issues for NFTs and the desire for fractional ownership of unique digital assets. At the heart of ERC404 lies the ambition to facilitate a more integrated and fluid interaction between the realms of fungible and non-fungible tokens, thereby unlocking new possibilities for creators, collectors, and traders alike. Designed to serve as the backbone of the DaVinci Project, the ERC404 protocol is emblematic of a shift towards a more versatile and dynamic ecosystem within the blockchain domain. By enabling direct token-NFT pairing, the standard promises immediate tradability across decentralized platforms, significantly reducing the barriers to entry for NFT ownership and trading. The protocol also introduces an innovative approach to NFT fractionalization and liquidity, presenting a unique solution to the often illiquid nature of the NFT market. # Mission The mission of the DaVinci project is to revolutionize the NFT and art world by merging community-driven creativity with cutting-edge technology. By leveraging the ERC404 Protocol, it aims to democratize art creation and ownership, enabling direct token-to-NFT pairing for seamless trading. This initiative not only simplifies the ownership process but also introduces a novel way to enhance digital art scarcity. The DaVinci project transcends traditional art, positioning itself as a historical archive of collaborative digital creation, inviting global participation in shaping its legacy. # Features * **Generative Art Integration**: Combines human creativity with AI to produce unique, one-of-a-kind artworks. * **Liquidity-Backed NFTs**: Each NFT is intrinsically linked with a liquidity token, ensuring instant tradability and value. * **Community-Centric Creation**: Artworks are not only created by individual artists but are a collaborative effort with the NFT holder community. * **Decentralized Ownership**: Utilizes blockchain technology to give artists and collectors true ownership of their digital assets. * **ERC 404 Protocol**: A pioneering standard ensuring enhanced utility and integration within the crypto ecosystem. * **Token Fragment Trading**: Allows for fractional ownership and trading, making art investment accessible to a broader audience. * **Burn Mechanism**: A unique feature where NFTs with less than 1 full backing token in the wallet are burned, creating scarcity and potential value increase. # Tokenomics & Launch Details Total Supply: 8,888 Tokens Burned: 6,888 (77.5% of supply) 1,600 Tokens Supplied to the Uniswap V3 Pool 200 Tokens Allocated to Whitelist 200 Tokens Allocated to Artists, Exchange Listings & Influencers for Project Collaborations *(The Above is Updated as of May 2nd, 2024)* **Developer Notes & Comments:** ***Purchasing Tokens/NFTs:*** * DaVinci Tokens will be Minted on Uniswap V3 at a starting price of 0.0888 ETH for the first 888 tokens supplied, ensuring a hard, absolute floor price. * As more DaVinci is minted, the price will increase. Therefore, getting in as early as possible is essential to secure the lowest cost basis. * There is no minimum for purchase, and fractions of tokens can be purchased at launch. You must buy at least 1 DaVinci token to receive an NFT. **1 Whole Token = 1 NFT**. However, you are free to buy less than 1 whole token. * There is no maximum transaction amount on how many tokens can be purchased (whale-friendly) * Unlike a traditional mint, all public transactions/mints will reflect on DEX as **volume** for the DaVinci token. * Though the DaVinci token has a 0% tax, slippage still applies in accordance with the chart's volatility. During periods of higher volatility, you may need to have a higher slippage amount for your transactions to be approved. * Uniswap Trading Fees are 1%. * Acquiring DaVinci will be as simple as any token purchase made via Uniswap. * By acquiring DaVinci Tokens, you understand that the DaVinci project is built on an experimental protocol (ERC-404) and assumes all risks and responsibilities associated with the nature of experimental technologies. ***Whitelist Details:*** * A pool of tokens will be reserved for Whitelisted addresses that **own** the DaVinci token. * A snapshot will be taken at an unannounced time. It is not enough to just buy and sell to be eligible. * Whitelisted addresses that hold DaVinci tokens can claim additional DaVinci tokens on a vested linear schedule. * The Tokens will be distributed proportionately based on the percent held within the eligible addresses on the whitelist. The more DaVinci you hold compared to the other whitelist holders, the more you will be able to claim. * More details regarding the Whitelist claim will be provided post-launch. * To check your Whitelist status, please use the [Whitelist Checker Tool](https://davinci.wtf/whitelist-checker) on our website ***NFT Artwork:*** * If you purchase a whole token and receive an NFT in your wallet (or multiple), you will see an unrevealed version of the artwork. Your NFT artwork will remain unrevealed as a placeholder until the release of our AI Art Generator, which will follow shortly after the launch. * In some cases, you may receive artwork that will automatically be revealed at some point post-launch, as these NFTs are special collaborations with artists commissioned for the project. # FAQ 1. **What is the DaVinci Project?** * *The DaVinci Project merges community, AI and ERC404 to transform NFT owners into creators, crafting a new chapter in digital art where each piece is a unique, collaborative creation between human and machine.* 2. **What are ERC404 Tokens?** * *At its core, ERC404 shatters the barriers between NFT and cryptocurrency enthusiasts. For the first time, 1 NFT equals 1 Token, directly aligning their values. This means you can trade your NFTs just like cryptos across all kinds of marketplaces, from OpenSea to any decentralized or even centralized exchanges, should they list them.* 3. **Why launch with an ERC404 Token?** * *New tech. NFTs are notorious for their lack of liquidity—selling often means accepting less than you'd like, and quickly exiting is a dream. Enter ERC404, transforming NFTs into instantly liquid assets, ready to be traded at any time. This protocol isn't just a link between two worlds; it equates them, creating a new asset class.* 4. **Who created the ERC404 contract?** * *Originally created by Developers @ctrl, @searn, @acme, and @hohenheim (widely known for the pandora project), the ERC404 protocol marks a pivotal moment in the evolution of NFTs, comparable to the early days of ERC721. This isn't just another step; it's a leap that unifies cryptocurrency and NFT investments under a single, innovative standard.* 5. **How can I buy an ERC404 Token?** * *That’s the beauty of it. ERC404 tokens can be purchased on Uniswap first and foremost, but also have the ability to be sold as NFTs on any NFT marketplace. They are interchangeable.* 6. **How does the NFT Minting and Burning Process work?** * *NFTs are created with every whole token that exists in a wallet. An example of this would include someone who has 0.5 tokens and purchases an additional 0.5 tokens, making a whole token. As a result, the holder would receive (automatically) one NFT in their wallet after successfully holding 1 complete (whole token). Should a token holder sell a portion of their tokens, equating to less than 1 whole token, the NFT that was previously in their wallet would be automatically burned. As of now, the contract will burn an NFT at random, so it’s imperative that proper wallet controls are in place in the event that you are concerned about which NFT may or may not be burned.* 7. **How to Trade DaVinci NFTs and Tokens?** * *The DaVinci project will be available as a Uniswap Token and or an Opensea NFT (where whole tokens exist). Fractions of tokens will be purchasable via decentralized exchanges, and whole tokens (>1-1.9 tokens) will be purchasable via NFT marketplaces/DEXs. As you would buy any other token via any traditional smart contract, DaVinci will be available in accordance with traditional purchasing means like Uniswap, etc.* 8. **How does GenAI work?** * *Unlike other NFT projects where you wait for the developers to create artwork for you and try to arbitrage the pixels that you’ve been granted, DaVinci takes a new approach by allowing the token holders to actually create the artwork that is the NFT. This creates a special bond and relationship with the NFT, but also allows for instant liquidity in the event that an artist is looking to monetize their artwork (the majority of the sales pitch of NFTs thus far). Everyone is an artist. Everything is an NFT. However, there are many folks who don’t have an artistic bone in their body. We believe that AI as a companion will augment the talent and creativity of humanity by extending the possibilities through simple prompting. This creates an entirely new relationship between artwork and technology that has yet to exist.* # What is ERC404? **1 NFT = 1 Token** Originally created by Developers @ctrl, @searn, @acme, and @hohenheim, the ERC404 protocol marks a pivotal moment in the evolution of NFTs, comparable to the early days of ERC720. This isn't just another step; it's a leap that unifies cryptocurrency and NFT investments under a single, innovative standard. So, what's the buzz about? At its core, ERC404 shatters the barriers between NFT and cryptocurrency enthusiasts. For the first time, 1 NFT equals 1 Token, directly aligning their values. This means you can trade your NFTs just like cryptos, across all kinds of marketplaces, from OpenSea to any decentralized or even centralized exchanges, should they list them. NFTs are notorious for their lack of liquidity—selling often means accepting less than you'd like, and quickly exiting is a dream. Enter ERC404, transforming NFTs into instantly liquid assets, ready to be traded at any time. This protocol isn't just a link between two worlds; it equates them, creating a new financial asset class. # Deploying your own ERC404 To launch your own ERC404 contract, you can use the example provided in the ERC404 GitHub repository, specifically within the `src` folder named `ExampleERC-404.sol`. This example demonstrates a minimal ERC404 implementation, emphasizing the process of minting the entire token supply to the initial contract owner. For projects interested in integrating ERC404, it's crucial to add initial tokens to a decentralized exchange (DEX) for liquidity and ensure the DEX pool address is whitelisted to facilitate seamless NFT minting and burning transactions. Use cases for the ERC404 protocol are vast, ranging from profile pictures (PFPs), access passes, gaming assets, media, to decentralized finance (DeFi) projects, enabling a higher standard of utility and integration. The ERC404 standard also facilitates a more efficient market by allowing creators to bypass high royalty fees and enabling the market to determine prices, promoting a fair and liquid trading environment. For detailed guidance on deploying your ERC404 contract and exploring its innovative features, please visit the [ERC404 GitHub repository](https://github.com/Pandora-Labs-Org/erc404/tree/main). # Version 2 Contract Enhancements ERC404 has already undergone its first major upgrade citing significant enhancements. The ERC404 protocol version 2.0-beta introduces significant updates to improve functionality and efficiency. Notably, it adopts a FIFO queue for ERC-721 token IDs, enhancing predictability and reusability, aligning with typical NFT collection behaviors. Full ERC-20 token transfers now also move associated ERC-721 tokens directly, streamlining asset management. The update brings clearer event emissions, dedicated functions for balance and supply queries, optional fixed supply cap, simplified transfer logic, and a more user-friendly minting function. Additionally, it incorporates EIP-2612 for permit approvals and EIP-165 support, alongside optimizations for gas savings. # How minting works on Uniswap V3 Uniswap V3 introduces concentrated liquidity and multiple fee tiers, allowing liquidity providers (LPs) to allocate their capital within specific price ranges, enhancing capital efficiency compared to Uniswap V2's uniform liquidity distribution. This mechanism allows for more effective trading and price discovery, particularly beneficial for ERC404 projects by providing a flexible and efficient minting and trading platform, addressing issues like price discovery, liquidity, and market engagement, while reducing constraints of previous models. \### *The explanation below is provided by the Pandora Project Documentation (credit to them) and is a useful resource for getting to know how Uniswap V3 launches work.* ## Overview A New Approach to Minting ### [​](https://pandoralabs.mintlify.app/uniswapv3/overview#why-uniswap-v3)Why Uniswap V3? A common ERC404 use-case is to utilize Uniswap as both an exchange and mint platform. Common ERC721 projects have long faced issues with price discovery and liquidity, some examples of which are as follows: * Mint prices are set too low, forcing slow price discovery on illiquid secondary markets * Mint prices are too high killing projects along with all price discovery * Bonding curves tend to be too constraining given the above, often resulting projects not minting out * Illiquid markets tend to prevent active or engaging speculation * Botting / sniping can create unfair releases requiring large technical overhead to remediate One of the main draws of ERC404’s flexibility has demonstrably been it’s ability to easily integrate with mature DeFi protocols. Utilizing Uniswap V3 as a mint platform and exchange allows projects to see the full spectrum of price discovery, while supporting deep liquidity and higher, consistent royalty earnings (while charging users lower royalty fees). Specifically, Uniswap V3 as a bonding curve, paired with native fractionalization allows projects to launch more flexibly and in a way that removes traditional mint constraints. ### [​](https://pandoralabs.mintlify.app/uniswapv3/overview#approaching-a-uniswap-v3-launch)Approaching a Uniswap V3 Launch *(Example Launch Plan)* It’s important to consider Uniswap V3 as a novel mint mechanism that requires some degree of planning. You’ll want to define a curve along which initial supply is pooled, moving up to a full range LP. **An example launch plan for a 10k collection could be as follows:** 1. 2500 tokens provided in a range from 0.01 - 0.02 eth *(example)* 2. 2500 tokens provided in a range from 0.02 - 0.05 eth *(example)* 3. 5000 tokens provided in a full range of 0.05+ eth [*(example)*](#user-content-fn-1)[^1] It’s critical to note that this final pool should have an infinite or very high maximum price, effectively serving as a bounded V2 pool; this ensures that the collection has no price “ceiling” whereas the bottom pool ensures a hard, absolute floor price. Source: [Pandora](https://pandoralabs.mintlify.app/uniswapv3/overview) [^1]: