The Role of Digital Assets

Role of NFTs within Liquid Earth Project

Digital Assets are at the heart of the Liquid Earth platform, serving as the digital representation of real-world assets like real estate, collectibles, and luxury items. They enable these assets to be traded instantly and seamlessly on the blockchain.

Types of ERC Standards Used

ERC-721: Used for unique, non-divisible assets like real estate properties or unique collectibles.

Digital Assets Management within the Project

  1. Contracts for Digital Asset Management

    • FantomArtion: Handles the minting and burning of Digital Assets.

    • FantomMarketplace: Enables the trading of Digital Assets.

    • FantomAuction: Manages the auctioning of Digital Assets.

    • FantomBundleMarketplace: Allows for bundling multiple Digital Assets together for sale.

  2. Digital Asset Storage

    • Digital Assets are generally held by user addresses. However, during auctions or while listed in the marketplace, they may be temporarily held by the corresponding smart contracts for escrow purposes.

Listing and Bidding Process

  1. Listing Requirements

    • KYC verification is often required (isVerified modifier).

    • In some cases, a listing fee in approved ERC20 tokens may be collected (collectPlatformFee in FantomArtion).

  2. Bidding Requirements

    • For auctions, the FantomAuction contract requires that the bidder submits a bid higher than the current highest bid (placeBid function).

    • KYC verification may also be needed (isVerified modifier).

  3. Payment System

    • Payments are mostly done in approved ERC20 tokens (collectPlatformFee in FantomArtion).

Difference between Bundle and Non-Bundle

  1. Non-Bundle: These are individual Digital Assets representing a single asset, managed mainly by the FantomArtion, FantomMarketplace, and FantomAuction contracts.

  2. Bundle: These are collections of multiple Digital Assets grouped together into a single package. The FantomBundleMarketplace contract manages these. Bundles are useful for selling sets of related assets, like a collection of artworks or multiple properties in a real estate portfolio.

The Digital Assets, be it bundle or non-bundle, act as the cornerstone of the LiquidEarth platform, allowing for various forms of asset tokenization, listing, trading, and management. Understanding their flow and interaction with various contracts is crucial for auditing and ensuring that the code aligns well with the project's objectives.

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