Monthly Recap #11 - June 2023

With Project Symbiosis taking shape, NFT Oslo simmering behind the scenes and enter.art celebrating its second birthday, we’ve had a lot to talk about this June in the enterverse. Didn't catch the memo yet? You're in for a treat.

@enter.artPUBLISHED 30TH JUNE 2023

Dear frens of the enterverse,

As enter.art celebrates being a pace-setter for art NFT marketplaces for two years, it’s been one of the busiest months in a while for everyone following the enter journey. With the celebration of the platform’s two-year anniversary, it’s both extremely exciting and quite fitting to introduce the next steps in the growth of the ecosystem.

On that note, it’s obvious that June in the enterverse has been (almost) entirely focused on the news of Project Symbiosis, which brings radical changes to how we operate and will impact the ecosystem's future significantly moving forward. Important keywords to note are aligning interests through a new ve- token model, enabling increased governance in the ecosystem.

Make sure to dive deeply into the relevant blogs mentioned below and hop by the enterNFT Discord server to participate in the discussion revolving around the news with the rest of the community. With information being shared at super speed and tons of new details unveiled, let’s sum it all up and take a look at June in hindsight.

Project Symbiosis Unravels

On June 10th, the first signs of Project Symbiosis popped up through an announcement from Kim in the enterNFT Discord server:

In the weeks past, it’s been an absolute pleasure to present one of the most ambitious changes to the ecosystem so far - Project Symbiosis.

In broad strokes, Project Symbiosis introduces a dual-token system to the enterverse that empowers the community to decide the direction of the enterverse through governance and earn rewards while doing so. The upcoming launch of the $ENTER token heralds a new era in the enterverse and an entirely new approach to the ecosystem's growth.

By locking up $ENTER tokens, everyone can gain influence as veENTER (voting power), put forth governance proposals for deliberation, and vote to enact new initiatives in the enterverse. Participants’ voting power will be proportional to the number of tokens locked, the duration of the lock-up, as well as additional multipliers.

Governance participants can decide on everything from emission rates to distribution, thereby controlling which behavior the protocol should incentivize. Check out this article to get a complete overview of the gauges and which behavior they incentivize.

$ENTER token will soon come to a launchpad near you, but it will also be possible for OG $NFTART holders to earn $ENTER by continuing to stake and farm $NFTART and NFTART-BNB.

Symbiosis - any type of close and long-term interaction between two units for the benefit of one or both 🌱$ENTER will benefit $NFTART ♾️ $NFTART will benefit $ENTER
— enter - NFT ecosystem ✨ (@EnterNFT) June 25, 2023

Project Symbiosis Q&A

1. What is the Community Treasury?
The Community Treasury will receive a sizeable allocation of the initial supply, which the community can spend as they see fit, provided they pass it as a governance proposal. For example, the treasury can be used to pay for marketing services, external developers, or even exchange listings or buybacks - the only limiting factors are the community’s creativity and whether they can reach a consensus.

2. How do I get a hold of $ENTER tokens?
The $ENTER token will launch with several Launchpads on the BNB Chain (more info TBA later). If you already hold $NFTART, you can earn $ENTER by providing LPs for NFTART-BNB or by staking $NFTART for $ENTER.

3. Can I stake $NFTART for $ENTER on Avalanche?
It will be possible to stake $NFTART for $ENTER on Avalanche. The exact emission distribution is always up to the community, so emissions may differ between BNB Chain and Avalanche.

4. Will I need to break my existing LP, when $ENTER becomes the reward token for the NFTART-BNB farm?
No, you will not have to break your LP. A new farm contract will be created, and you can simply move your LP to the new farm to receive $ENTER emissions.

5. Is Community Governance even a good idea for running an NFT ecosystem?
Several social epistemological considerations give good reason to believe that a large, diverse community can be very reliable in decision-making.

Strays & Project Symbiosis

The mysterious Strays will also play a significant role in the protocol, offering holders additional boosts to their voting power. Strays holders will be able to stake their Strays, enabling ve Multiplier Boosts to increase voting power and emission rewards for the Strays holders.

With token-gated merch incoming, whitelists for upcoming collections, and additional voting power, no Stray is left behind.

Half of the Strays have found their new home 🧬

With Project Symbiosis, you can soon stake your Strays NFT to receive Multiplier Boosts for additional voting power and emission rewards in the enter ecosystem @stray_what pic.twitter.com/A8wFwXWBou
— enter - NFT ecosystem ✨ (@EnterNFT) June 19, 2023

Upgrade of Wallet Connect

We’re upgrading WalletConnect v1 to v2 on all the enter platforms. This will result in a better user experience for everyone and make the platforms easier to use. Specifically, you can expect the following:

Better multichain support
Chain-agnostic interface
Set session life time (default is 7 days)
And more

NFT Oslo Rescheduled - New Website Live

As many of you have already caught on, we’ve been gearing up to co-host Norway's first NFT Conference, NFT Oslo, initially set to take place this fall. In coordination with our team and partners hosting the conference, the strategic decision to move the event to March 2024 has been made, enabling us to make the event even more remarkable and impactful.

NFT Oslo’s goal is to provide an exceptional platform where industry leaders, visionaries, and enthusiasts can come together to explore the potential of NFTs.

The additional time allows the NFT Oslo team to expand the roster of esteemed speakers, curate cutting-edge panel discussions, and secure partnerships that will make the conference an unforgettable experience. Moreover, rescheduling the NFT Oslo Conference enables the team to provide a more robust and engaging virtual experience for attendees who cannot join us physically.

A fresh new website’s just rolled out, so you’ve got a broader picture of what to expect from Scandinavia’s first Web3-conference; Check it out at nftoslo.io. Special shoutout to 1984 for the brilliant piece in the center stage of the site, Survival of the Greenest.

As we move closer to the event, we can’t wait to present a top-notch program filled to the brim with the best of what Web3 offers.

Podcasts & Blogs

How can you spot Gems in Web3? Are NFTs inherently bad for the environment? What does Project Symbiosis mean, and how does it benefit the entire ecosystem? These questions and more have been answered in this month's articles and podcasts by enter.blog. Here’s June on enter.blog in its entirety, in case you missed out!

Bitcoin Adoption in El Salvador

Introducing Project Symbiosis

How Project Symbiosis Aligns Interest and Empowers the Community to Take Action

On the horizon

With the foundation of a massive ecosystem overhaul being finetuned in the background, we obviously have quite a few final details that will be announced in the coming weeks and months.

You can expect a full lite paper outlining the new protocol's technical details, like exact initial token distribution, emission rates, voting mechanics, gauges, and more. On that note, did anyone say “roadmap” and Twitterspaces? More on that later.
As mentioned, the $ENTER token will launch through an IDO with a few selected launchpads. IDO’s will only be announced through our official channels.

Art Highlights

This month, enter.art turned two years old - and what a ride it has been! From the introduction of the first beta artists to the launch of new and exciting projects, enter.art has set the pace in onboarding artists to the world of NFTs since the very beginning. With more than 2000 artists registered on enter.art and the upcoming launch of Project Symbiosis, we look forward to continuing the journey with everyone. With that, here’s this month's art highlight!