Illuminati/xCVP NFT Specification

Illuminati/xCVP NFT Specification


PowerPool proposes to launch an NFT based on our Iluminati DAO theme that is (hopefully) collectible for the quality of the art, a financial instrument with (rising) fixed xCVP floor value (redeemable for a share of our Treasury), and a membership/identity wallet token giving access to restricted forums within our DAO.


An NFT (Non-fungible token) is an ERC721 token representing the unique ownership of a digital asset. They can be mint-able, burnable and importantly limited in supply. The ERC-1155 standard takes the concept further by reducing the transaction and storage costs required for NFTs and batching multiple types of non-fungible tokens into a single contract. More recently, EIP-2309 has been proposed to make minting NFTs a lot more efficient. This standard lets you mint as many as you like in one transaction! Financial instruments can be created with these baselines when utilizing custody parameters, escrow contracts, wrappers and supply control.


The creator of an NFT gets to decide the scarcity of their asset. The value of Iluminati NFTs is underpinned by the (growing) value of the xCVP for which the NFT can be redeemed. From this viewpoint, as many NFTs as the Treasury controls to stake and auction as xCVP can be created. The limit will more likely be the number of high quality images, or perhaps the number of xCVP stakers deserving a bonus (see airdrop below). Whatever the scarcity, this information is all public.

Artist Royalties

Creators/artists can program in royalties so they’ll receive a percentage of sales whenever their art is sold to a new owner. This is an attractive feature as artists generally do not receive future proceeds after their art is first sold.

This is completely automatic so creators can just sit back and earn royalties as their work is sold from person to person. {Issue: is there a final royalty if the NFT is redeemed/burned for xCVP?}

Influencer/Ambassador/Contributor rewards

Redeemable xCVP NFTs align the interests of our marketing influencers and part-time contributors with long term NAV growth better than other forms of rewards.


NFTs can be air-dropped for free, auctioned/re-auctioned, or (converted to ERC20 and pooled on DEXs?)

In the event that PowerPool decides to airdrop the CVP contained in legacy pools, an Illuminati NFT could be included as a bonus to long-term supporters holding legacy pool tokens. See PDAOPOOL CVP airdrop proposal here:

PDAOPOOL- Legacy Pool Consolidation
PDAOPOOL- Legacy Pool Consolidation

Minting/Auctioning NFTs

The Treasury Management aspect of creating xCVP redeemable NFTs is also appealing. The DAO Treasury should not stake CVP as xCVP for its own account, but can do so in order to create a financial instrument NFT that is auctioned or granted to to others. Auctioning xCVP-backed NFTS on other chains in return for native tokens like BNB, SOL, AVAX, MATIC, etc may be very useful for managing Treasury liquidity and fee obligations.

Exchanging NFTs - Internal Auction-based Market-making

While NFTs are not as liquid as fungible tokens, we do not anticipate it will hinder their use as a financial instrument. PowerPool needs to develop expertise in auctioning NFTs in preparation for more and more financial instruments being cast in the form of NFTs. DAO members/contributors rewarded with redeemable NFTs may choose to sell, others may aspire to buy xCVP at a discount, with yet others overbidding the NFT redemption value at that moment reflecting the quality of the artwork, or a bullish outlook on Treasury NAV. Even for NFTs redeemable for financial value in xCVP, the artistic and other attributes of the token mean that a peer-to-peer auction market should exist where buyers and sellers meet to agree on a price. Ideally these periodic auctions would be run by PowerPool.

Redemptions - Burning NFTs

PowerPool Iluminati NFTs are redeemable/exchangeable for a specified amount of xCVP

{artistic issue: how can the owner/prospective buyers of the NFTs see the denomination of the xCVP value of th NFT? Financial securities like money, stock and bonds usually state the par/face value right on the NFT?}

Yield Optimisation - NFTs as Collateral

Because NFTs are easily exchanged, they are liquid and easy to value at fair market. In the future, NFTs will give users an easy and secure way to use many digital and physical assets as collateral for loans. This means that by holding xCVP in the form of NFTs, Iluminati can more easily pledge their staked xCVP

On an NFT leading site, the NFT will be locked into a smart contract. The minimum value of the NFT for collateralisation purposes will be set by the value of CVP/xCVP on the open market. If the loan is repaid, then the NFT will be transferred back to the user, and if the loan is not repaid in time, the NFT and any underlying rights to digital and physical assets will be transferred to the lender. A current example of this service is the platform NFTFI.

Platform Options - Minting, Marketing & Redeeming