When tokens are non-fungible this is an easy task. Many NFTs are designed to hold little or no monetary value, and high symbolic content. As an example, POAPs are minted to symbolize memories of specific moments and events in time and/or space. Fungible tokens cannot escape holding monetary value, but can they be designed to allow a richer symbolic value as well? Could we create a token still compatible with permissionless automated market makers, but also useful for holding non-monetary values?
- explore the possibilities for designing a token able to carry and express symbolic value
- develop open source smart contracts available for the community
- deploy at least one example instance of a SymVal token as a demonstration of its potential
Inspired by ancient "technologies", we are exploring the idea of borrowing concepts and practices from Buddhism, such as prayer wheels, mantras, holy temples / stupas, with the goal of deploying a digital version of them to the blockchain.
One such use case can be found in the mantra branch which is also running on Optimism Sepolia testnet here. The mantras are on-chain and they hold different symbolic values to different people; be it motivational, meditational or simple slogans.
This SVG inspired by NEAR on-chain icon images for tokens supported by the wallet. The source code is in branch regro_svg. Created by Simon, it is an interactive SVG that shows day/night cycles, a tree's respiration cycle, and localized seasons like Winter and Summer, based on the device’s location and time zone. See it here.
