Announcing Sail Protocol

SZNS Labs launches Sail Protocol, a group trading protocol for NFTs.

Sail is an NFT trading protocol for groups. Users can pool ETH together to purchase grails and other NFTs they could otherwise not afford themselves to flip for profit.

Background

After building through the challenges of decentralized governance for a year, the SZNS Labs team found group ownership of NFTs via governance was riddled with inefficiencies, complexities, and difficulties (i.e. voting on proposals, crafting Ethereum transactions, and so on).

While NFT folks love the vibes and community, they also share a common excitement for profit. Our goal is to focus on that and create a UX combining the excitement of decentralized ownership with an effective decision-making system that gives groups the best opportunity to win together.

About Sail Protocol

Sail helps NFT traders effectively trade as a group in a secure, transparent, and collaborative NFT trading experience with a nautical theme: Captains, Sailors, and Ships.

Ships are smart contracts that hold NFTs and ETH, with two primary goals: (1) crowdfunding ETH to buy NFTs and (2) selling NFTs. Each Ship is a DAO managed by Captains and Sailors, with custom smart contract modules for trustless and permissioned asset management.

Captains are responsible for launching Ships, buying, and listing NFTs for sale.

Sailors contribute ETH to Ships in exchange for $SHIP tokens, which represent their governance rights in the Ship DAO. They can claim their share of ETH from NFT sale proceeds using their $SHIP tokens.

tl;dr - Sailors contribute ETH to a Ship, and Captains buy/sell NFTs. All trades are on-chain. All distribution of ETH is trustless. Our goal is to make NFT trading more accessible, fun, and social.

How It Works

The Ship has 3 main lifecycles: (1) Ship Building, (2) Sailing, and (3) Complete

1) Ship Building (Fundraising and Buying NFTs)

The Ship Building stage resolves around initial Ship parameters set by the Captain at launch. The most important parameters include:

• ETH Goal — the ETH Goal determines the amount of ETH that must be raised prior to the first NFT purchase. Ships that do not meet their ETH goal will redistribute the raised ETH.

• Fundraise Duration — during this time period, the Ship must meet its ETH threshold and the Captain must purchase the NFTs. Once the duration ends, the NFTs purchased can be listed for sale.

• Target Collection(s) — the Captain must specify beforehand which NFT Collections they will purchase from. In v1, they can choose up to 10, and need at least one to launch the ship.

• Captain Fee — the Captain can set a % fee for successful NFT sales.

2) Sailing (Listing and Selling NFTs)

Once the Ship has fundraised successfully and the Captain has purchased NFTs before the end of the Ship Building Period, then the Captain can list the NFTs for sale.

Sailors will be able to view the listing and selling activity on the dApp.

3) Complete (Claiming ETH)

Every time an NFT is sold, Sailors can claim their share of ETH from the sale.

When a Ship has sold every NFT, the Captain can claim their Captain Fee, and the Ship is considered Complete.

Leaderboard

The goal of every Captain and Sailor is to climb the profit leaderboard. As users interact with Sail they build a history of NFT trades. High quality captains will begin to stand out and these Captains will be able to develop stronger communities, raise more successful ships, and execute more strategies.

Want More?

Captaining a ship on Sail requires strong intuition for NFTs, a strong community to rally together, and efficient decisions to make while buying and selling the NFT assets.

If you are an NFT trader and interested in trying out Sail in an early stage, please follow the steps here.

Website: https://sail.fun

Docs: https://docs.sail.fun

Discord: https://discord.gg/sailprotocol

Twitter: https://twitter.com/saildotfun