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General
untrading.org is a DEX protocol that uses NFT technology to solve financial transaction problems. We operate on Ethereum and Polygon blockchains, and use EIP-5173 to create a shared-benefit economy. Our non-fungible Future Rewards (nFR) system creates a trustless Flow for each listed token, with every transaction linked to a specific user. Buyers and sellers receive a percentage of profits based on their contribution to the token's provenance and price-discovery process. We also have Originator's Rewards (ORs) that eliminate commissions and promote transparency. Join us on Untrading.org to experience a fair and equitable trading platform.
Flows: Flows, or Giftchains are decentralized, on-chain communities made up of all the buyers and sellers of an NFT token.
On-chain nFR payments: Uses are no longer at odds with each other, nor with the platform. They are no longer chess pieces in a zero-sum game. A gain is no longer a loss for another. In addition to eliminating the need for lots of trades to generate transaction fees, the platform implements a revolutionary on-chain payment system that rewards ownership chain ownership, and discourages royalty circumvention.
All assets: This new trading framework works with all assets that can be tokenized, including real estate, cryptos, tokenized stocks, and startup team projects, in addition to being an art NFT protocol.
Community: Each project that originated and traded on the platform will benefit when each of its living communities contributes to its success.
untrading.org is not just another NFT marketplace. It is a game-changing asset transaction protocol that goes beyond NFTs, covering all tokenized asset classes. The platform is built on an improved NFT framework, which is based on EIP-5173, that establishes a shared-benefit economy where every previous buyer has contributed to the token’s provenance and the price-discovery process. On top of that, untrading.org has a trustless Future Rewards (FRs) system and Originator's Rewards (ORs) that create giving circles among owners, promote transparency, and align the interests of the platform and its users. In summary, untrading.org is not just another NFT marketplace but a revolutionary asset transaction protocol that provides a new level of fairness, transparency, and community for all tokenized asset classes.
untrading.org stands out from all other platforms in four major ways:
- 1.A lower transaction cost: untrading.org does not charge a fixed commission to buyers or sellers. All Originators' Rewards and ownership Future Rewards are calculated based on the seller's profit.
- 2.Get paid even after you sell the token: The Future Rewards framework shares a percentage of the realized profit with the Giving Circle that makes up the chain of ownership after you sell the token.
- 3.On-chain royalty payments: the artists' royalty payments are part of the Originators' Rewards (ORs) on untrading.org. They are immutable and on-chain. The nFRn framework discourages buyers and sellers from circumventing royalty payments.
- 4.On-chain NFT licenses: untrading.org implements the "Can't Be Evil" NFT licenses released by a16z on its native smart contract. Creators can choose from six on-chain licenses that outline respective rights and obligations.
Our approach differs from traditional exchanges that prioritize profits over customers, leading to unethical practices. DEXs don't address the zero-sum nature of trading, which transfers wealth from the masses to a few. Our non-custodial Web3 protocol solves conflicts of interest, benefiting everyone. We prioritize our users' best interests, with no fees for deposits or transfers. Our vision is a future where all financial assets are tokenized, traded transparently and globally, benefiting all participants.
By using untrading.org, you can enjoy several benefits, such as amplifying user values using the nFR Flow system, enhancing user experience, and addressing security concerns with multisig implementation on asset-locking contracts. Our platform is designed to maximize value for the masses and transfer wealth back to the community, instead of extracting value from them.
There is no commission charged on each transaction on the platform, and there is no conflict of interest between the platform and its users; each trading asset creates a giving circle that benefits the platform users in three ways:
- 1.You will continue to receive Future Rewards (FRs) after the token is sold;
- 2.There is no transaction cost (other than the gas cost associated with various blockchains) if the trade (buying and selling) is not profitable;
- 3.On-chain Originators Rewards (royalty payments) that cannot be changed arbitrarily by the platform;
- 4.a16z's "Can't Be Evil" NFT licenses are implemented on untrading.org for Artwork items.
EIP-5173 is an Ethereum Improvement Proposal that aims to revolutionize the world of non-fungible tokens (NFTs) by introducing a new standard that rewards all owners of a token for their participation in its price discovery process and the asset's provenance. The importance of an asset's provenance, just like in the real physical world, adds transparency, trust and additional value to the NFT ecosystem.
This new standard creates a system of wealth creation that is a complete departure from the traditional zero-sum game of trading, which has been designed for most traders to lose. EIP-5173 offers a new way of creating value that benefits everyone involved. In the traditional trading system, exchanges and marketplaces often take a significant cut of the profits at the expense of creators and buyers, even sometimes engaging in unethical and illegal actions against their users.
EIP-5173 offers a solution to these problems by introducing a new model that benefits everyone involved. By rewarding all owners of a token for their participation in its price discovery process, EIP-5173 creates a system of wealth creation that is fair and equitable. This eliminates the conflicts of interest between exchanges and marketplaces and their creators, buyers, and sellers of financial assets, not only the NFTs.
Moreover, EIP-5173 provides a more accessible and equitable way for artists and creators to monetize their work, while also giving buyers the opportunity to participate in the value creation process. With the added transparency and trust of an asset's provenance, creators and buyers can feel confident that their work and investments are secure and legitimate.
Overall, EIP-5173 represents a major step forward for the world of NFTs. By introducing a new standard that rewards all owners of a token for their participation in its price discovery process and the asset's provenance, it offers a more fair, equitable, and sustainable way of creating value in the NFT ecosystem. It is a groundbreaking proposal that has the potential to change the way we think about the NFT framework and the value it holds.
The biggest problem with the current financial markets is the zero-sum mentality that prevails not only in short-term and derivative trading but also in investing. The entire financial market was designed to extract value from the masses and transfer wealth back to the elite few from its beginning several hundred years ago. This means that the market extracts value from the companies' users, workers, and the community they serve in order to maximize the remote capital investors. As a result, the current financial markets create an unfair system that benefits the few at the expense of the many.
EIP-5173 addresses the problem of the unequal distribution of value in the current trading system, which guarantees that most traders will lose money due to their emotions and the use of various sophisticated techniques by insiders. It introduces a new standard for non-fungible tokens that rewards all owners of a token for their participation in its price discovery process, creating a system of wealth creation that doesn't rely on the traditional zero-sum game of trading. The new system eliminates conflicts of interest between exchanges and marketplaces and their creators, buyers, and sellers of NFTs.
By introducing a more accessible and equitable way for artists and creators to monetize their work, while also giving buyers the opportunity to participate in the value creation process, EIP-5173 offers a new way of creating value that benefits everyone involved. Our goal is to inspire more developers to work together to develop on-chain royalty payment methods and build a win-win trading practice based on Ethereum and Polygon. This involves building a next-generation exchange based on a gift economics model where members pay it forward to end centuries of zero-sum trading.
With the non-fungible token standard and several extensions, including EIP-5173, it is now possible to build this platform, which has the potential to reach far beyond the art world and transform the trading market, which is worth hundreds of billions of dollars.
untrading.org offers several features, such as the ability to transfer a fraction of your NFT in a logical, secure, and efficient way, implementing a16z's "Can't Be Evil" licenses for all NFTs, and continuously upgradable smart contracts that patch vulnerabilities and add new features using EIP-2535 "Diamonds." Our platform also provides a multisig implementation on asset-locking contracts to address security concerns.
Surely untrading can help me earn more in the long run, and how can it prevent me from losing money?
There is NO way to prevent anyone from losing money in trading. No losses should be socialized or bailed out either. Trading always involves risk. The only way to "prevent" risks and losses is either not to trade or join a Ponzi scheme.
Even though there are no guarantees in trading, the platform can help you cope if you lose in a trade since there will be no fees or commissions. Moreover, regardless of your not contributing to the former owners, you will still receive Future Rewards (FRs) from the Giving Circle if the future owners make money trading this NFT as a result of your position in the chain of ownership.
The provenance of artworks and collectibles strongly influences their value. A token's price discovery process is influenced by all buyers, especially at the early stages of its trading lifecycle. In the spirit of open-source gift economy, it is fair to reward all the former owners retrospectively for adding value to the token's price increases during the process.
Similarly, tokenizible assets gain value when each former owner shares the same growth goals as the present owner, forming a healthy community.
Through eliminating transaction fees, untrading.org prevents conflicts of interest between its users and the platform.
For the platform to generate revenue, users must make a profit. The Originators' Rewards (ORs), representing originators', creators', and artists' lifetime royalty income, are split between them and untrading.org (for example, 70/30, but currently 100/0). The platform's only revenue comes from this. OR payments are made on-chain and are based on the seller's profit, not the sale price.
By utilizing EIP-5173, creators, buyers, and sellers of tokens form on-chain communities we call Flows, or Giftchains. Flows are formed when participants work together to increase wealth. A Flow is a decentralized, on-chain community made up of all the buyers and sellers of an NFT token.
The owners are arranged in a queue, starting with the earliest owner and ending with the owner immediately before the current owner (the Last Generation). The First Generation is the last of the next n generations. There is a fixed-size profit distribution window from the First Generation to the Last Generation.
Those who sell non-fungible-future-reward-compliant tokens (nFR tokens) will share profits if they are not the original minters, the Originator, and therefore not the very first sellers in the chain. Future Rewards (FRs) create a trustless, on-chainFlow that is governed by the original smart contract by making sure that every seller, regardless of position, gives and receives the Future Reward distributions specified by the Originator when the token was minted.
With this new NFT framework, stronger communities can be created and mutually beneficial relationships can be formed. Flows are living communities where previous and current owners share interests.
untrading.org takes security very seriously and provides a multisig implementation on asset-locking contracts to address security concerns. Our platform also continuously upgradable smart contracts that patch vulnerabilities and add new features using EIP-2535 "Diamonds." Additionally, our team of experts ensures that our platform is constantly monitored and updated to ensure maximum security for our users.
untrading.org is a non-custodial platform without counterparty risk that allows users to retain control of their assets even in the event of bankruptcy through asset-unlocking smart contracts signed jointly by the platform, users, and an outside custodian.
To make the framework robust and resilient, the untrading.org protocol does not promise a fixed rate of reward to anyone at any time. While the exact amount and timing of the rewards is uncertain, the on-chain mechanism for distributing these rewards is immutable.
untrading.org also includes measures to protect user assets, such as asset-unlocking contracts signed by users, the protocol, and a third-party custodian. User funds are safe even in the event of untrading.org ceases to exist.
Our team is composed of seasoned traders and experienced blockchain developers. As successful traders survived and thrived for over 20 years, we understand the pain points of individual traders who have been at a disadvantage in a system that favors the wealthy and the powerful. Our mission is to level the playing field and provide a more equitable, decentralized financial transaction ecosystem that benefits everyone.
Through our non-custodial nFR protocol, we address the conflicts of interest that exist in existing exchanges and offer a transparent and fair solution that has never been considered before. With our expertise and passion, we aim to revolutionize trading and make it more profitable and accessible for all.
@dRadiant, highly skilled 16-year-old blockchain coder who is known for their hard work ethic, and has contributed to several open-source projects, co-authored an EIP (writing another EIP to solve the non-divisible problem of NFTs), and won prizes at the ETH SF & ETH Denver hackathons.
Yale ReiSoleil, co-author of EIP-5173, experienced HFT system trader and early investor in BTC & ETH.
Amit Srivastava, 30 Years Experience in Investing, Strategy Consulting and Technology Operations.
Dr. D Wang, EIP co-author, PhD in computer science. 20 years as chief HFT trading system designer.
Tal Elyashiv, Advisor, former CIO at Bank of America, CIO at Capital One, and COO at BondDesk. Founder at Navion, Exactor, Yallo, SPiCE VC and Securitize.
Simon Telfer, Advisor. Technology Director 30 years’ experience delivering large transformation programs in multiple industries including media, retail, public sector.
EIP-5173 is not a Ponzi scheme because it does not rely on new investors joining the system to pay returns to earlier investors. Instead, it introduces a new standard that rewards all owners of a token for their participation in its price discovery process. This creates a system of wealth creation that benefits everyone involved, including artists and creators, buyers, and sellers of NFTs.
The traditional trading system has long been plagued by unequal distribution of value, with exchanges and marketplaces existing to only serve their own benefit, often taking a significant cut of the profits at the expense of creators and buyers, even sometimes engaging in unethical and illegal actions against their users. EIP-5173 offers a solution to these problems by introducing a new model that benefits everyone involved. By rewarding all owners of a token for their participation in its price discovery process, EIP-5173 creates a system of wealth creation that is fair and equitable.
Furthermore, EIP-5173 offers a new way of creating value that benefits everyone involved. It provides a more accessible and equitable way for artists and creators to monetize their work, while also giving buyers the opportunity to participate in the value creation process. It eliminates the conflicts of interest between exchanges and marketplaces and their creators, buyers, and sellers of NFTs.
Overall, EIP-5173 represents a major step forward for the world of NFTs, providing a more fair, equitable, and sustainable way of creating value in the NFT ecosystem.
Our primary measure of success is the total nFR generated, as it's 100% shared with all users. As a decentralized platform, we prioritize the engagement and satisfaction of our users over traditional metrics like revenue or downloads. In addition to nFR, our primary success metrics are the number of active users, the volume of transactions, and the liquidity of our markets.
Currently, we have seen consistent growth in all three areas, with a growing verified user base and an increasing number of transactions and liquidity using our protocol. At this time, several DAO projects are in talks with us to issue their native tokens on untrading.org, and a crypto bank is issuing their membership NFT tokens using the EIP-5173 protocol. We're constantly monitoring these metrics to ensure we're on track to meet our goals, and we're always working to improve our protocol to provide the best experience for our users.
Last modified 6mo ago