Corey T Mayweather — Introduction To Creating SpecieCircle V2
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Corey T Mayweather In Rome |
I wanted to start this journey of documenting my progress of building SpecieCircle. SpecieCircle is a manifestation of my ideals: a protocol that produces community-governed goods and services with circulating value. What made me create this was continual dissatisfaction with the retail industry: orders taking months to be shipped, lack of customer support, and the community feeling the same dissatisfaction. However, nobody was able to do anything about it.
In SpecieCircle, shops are created with the purpose of community governance, open transparency, and open supply chain management. The V1 Smart Contracts of SpecieCircle introduced open supply chain management built completely on-chain, along with token minting with item purchases.
The V2 Smart Contracts of SpecieCircle will introduce timed escrow & refund accounts, enabling minting of ERC20 and ERC721 smart contracts directly from the main smart contract.
Timed Escrow & Refund accounts
Timed Escrow & Refund accounts allow purchasers the comfort of purchasing an item, waiting until it's confirmed and arrived, and then releasing the funds to the shop and minting the token reward, governance token, or NFT to the purchaser.
Self Minting
Self Minting for ERC20 and ERC721 allows shops to create tokens in their marketplaces directly from SpecieCircle, whether the tokens are used as governance tokens or token rewards, or the NFTs are used as coupons, on-chain certificates, or for a community PFP movement. SpecieCircle V2 Contracts allow for more community engagement, more community value circulation, and, most importantly, a better customer experience.