📖Whitepaper
Experience the Future of Digital Gifting with BaoBao: Redefining Rewards on the Blockchain.
Abstract
BaoBao is an innovative blockchain platform for distributing crypto giftboxes, aimed at expanding the application of cryptocurrencies. BaoBao enables the distribution of cryptocurrency giftboxes, allowing more users to possess digital assets and increasing the influence of cryptocurrencies. Gift-giving is a symbol of Eastern culture, where red packets are exchanged to express blessings and good wishes. The BaoBao protocol brings the tradition of red packets to the blockchain world, promoting cultural exchange.
Content
1.Introduction
Welcome to BaoBao, a trailblazing platform revolutionizing the distribution and collection of crypto giftboxes via popular social media channels. BaoBao stands at the forefront of integrating blockchain technology into everyday life, seamlessly blending cultural heritage with technological innovation. This platform not only introduces blockchain activities in a fun and engaging manner but also pioneers the use of digital identities (DID) in giftboxes, fostering an inclusive and barrier-free blockchain community for the average internet user.
The blockchain industry has long awaited a "killer app" that achieves mass adoption, breaking free from the confines of a niche group of crypto-enthusiasts. BaoBao is that breakthrough, transforming the festive tradition of giftbox distribution and collection. By integrating with widely-used social media platforms like Telegram, BaoBao offers an experience as intuitive as traditional methods, making it accessible to a broader audience.
2.Protocol Architecture
2.1 Description
Anyone can use BaoBao to distribute giftboxes. Gift senders are divided into two categories: primary senders and advanced senders. All users are considered primary senders by default. To become an advanced sender, a user must hold BaoBao NFTs The privileges of primary and advanced senders are as follows:
- Advanced senders can personalize the giftbox cover and create a slogan to promote specific cryptocurrencies and increase their visibility.
- Advanced senders can customize the Digital Identity (DID) requirement, allowing only users holding specific tokens to participate in receiving the giftbox.
- Advanced senders can include price information for specific tokens in the giftbox, providing users with insights into the token's price and enhancing their knowledge of the cryptocurrency.
2.2 User cases
For instance, suppose a BRC20 token community (let's say the BRC20 token is called ABC) aims to expand its influence and encourage more people to hold ABC tokens. However, due to the congestion and high fees on the BTC network, distributing ABC tokens on the BTC chain is costly and inefficient. By utilizing the BRC20 and ERC20 cross-chain bridge, uBridge, ABC tokens can be transferred to the BSC chain as ABC-ERC20 tokens. Then, through BaoBao Bot on Telegram, the cross-chain ABC-ERC20 tokens can be distributed to more Telegram users, increasing the influence of ABC tokens. Additionally, with the advanced giftbox distribution feature provided by BaoBao, the ABC token community can customize the giftbox cover, specify users holding certain tokens (such as BNB, ETH, OP, etc.) as eligible recipients, and display the price information of ABC tokens.
2.3 Implementation
Gift senders interact with the BaoBao Telegram bot to initiate the giftbox distribution. Gift senders can customize the quantity, amount, and blockchain for the giftbox, and they need to pay gas fees to complete the distribution.
After creating the giftbox, it can be shared in Telegram chat rooms to distribute the giftbox. All Telegram users have the opportunity to claim the giftbox, which is temporarily stored off-chain. Gift recipients need to manually withdraw the tokens from the giftbox to their own wallets, and the withdrawal process requires paying gas fees.
3.Tokenomics
3.1 Introducing BaoBao Token
BaoBao introduces the BaoBao Token ($BBT) as its governance token, allowing token holders to actively participate in the platform's ecosystem and shared growth. Operating on multiple blockchain networks, the $BBT has a fixed total supply of 1 million tokens, with no planned changes to this amount. Token holders can enjoy advanced privileges in red packets distribution and collection, expanding the influence and reach of their tokens. $BBT is the first BEP-404 token and is dedicated to driving the development of BEP-404, creating a brand new BEP NFT ecosystem, and bringing fresh narratives and vitality to the BEP NFT ecosystem.
3.2 Allocation
At genesis, 1 million BaoBao tokens have been minted and will become accessible over a four-year period. The initial allocation over the course of four years is as follows:
90% of $BaoBao tokens will be directly added to the Uniswap liquidity pool.
5% will be allocated to the team for project development and market expansion, with a four-year unlocking schedule.
5% of the tokens will be distributed to loyal users supporting the BaoBao Protocol based on their loyalty points (XPs).
3.3 BaoBao Token（$BBT) and BaoBao NFT (BaoBao Replicants)
The total supply of $BaoBao tokens is 1,000,000, and the total supply of BaoBao Replicants is 100,000. For every 100 $BaoBao tokens held, you can own 1 BaoBao Replicant. The value of BaoBao Replicants will increase with the appreciation of $BaoBao tokens. BaoBao Replicants are divided into six levels: Magical, Legendary, Immortal, Mythical, Divine and Worldly.
BaoBao Replicant Holders will enjoy a range of benefits within the BaoBao ecosystem and share in the development achievements of the BaoBao Protocol ecosystem.
3.4 Staking
A staking pool will be created, allowing BaoBao token holders to collectively lend their tokens, participating in the platform's growth and success. BaoBao is not just a platform; it's a step towards making blockchain an integral, enjoyable part of our digital lives.
4.Roadmap and Milestones
Q1, 2024 - Integration and Launch
Integrate and launch support for creating and distributing red packets on the BNB Smart Chain (BSC). Users can freely set the quantity and amount of red packets.
Integrate with Telegram to enable sending and receiving red packets within Telegram chat rooms.
Launch advanced red packet distribution features and establish ecosystem partnerships with blockchain projects.
Q2, 2024 - Mainnet Expansion and Commission Functionality
Expand support for more blockchain mainnets, enabling red packet distribution on additional EVM-based chains and Solana.
Launch red packet commission functionality, allowing users to invite friends and share red packet earnings.
Q3, 2024 - Ecosystem Expansion and Red Packet Advertising System
Collaborate with various types of blockchain projects (DeFi, GameFi, NFT, SocialFi, etc.) for red packet marketing partnerships, creating an integrated platform for red packet advertising and marketing.
Establish a more comprehensive DID (Decentralized Identity) system and a badge system to help project partners identify more precise target customers.
5. Summary
The BaoBao protocol aims to enable the sending and receiving of digital currency red packets on the Telegram platform, while providing customized red packet solutions to blockchain projects. By leveraging BaoBao's red packet tools, project partners can expand their brand influence, increase the number of token holders, and enhance their project's impact.
In the future, BaoBao will support more mainnets and public chains, and collaborate with a wider range of blockchain projects, transforming BaoBao into an integrated red packet marketing platform. Through the implementation of a DID (Decentralized Identity) system and a badge system, BaoBao will assist project partners in filtering users and identifying precise target audiences, thereby improving marketing efficiency.
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