REWARDS APP

Dharma Network

Dharma Network is a pioneering decentralised autonomous Organization (DAO) at the forefront of the blockchain space. They are innovatively crafting three unique DApps- Dharma Teams, Dharma Market, and Dharma Immortals - an intriguing blockchain-based NFT game. Powering the Dharma Network is the mineable token, Dharm, that weaves its operations together. Core to Dharma's technological foundation is the Algorand Blockchain, where the ASA (Algorand Standard Asset) and essential smart contracts come to life.

About Project

Dharma Network entrusted Yarilabs with the pivotal responsibility of sculpting their ambitious tech stack from the ground up. At the heart of their vision lay 'Dharma Teams', a tool designed to rejuvenate the management of distributed teams. This tool empowered organisations to reward their teams using a performance matrix that amalgamated self-evaluation, client feedback, and an automated activity tracker. A unique element was making this activity tracker's results publicly verifiable via the blockchain, essentially turning it into an embedded blockchain system. Dharma Teams is not just any tool; it embodies the mining engine of the Dharm token. Tokens are mined based on verifiable work and distributed among each organisation member (the Dharm Miners). These tokens have multifaceted uses, from influencing team evaluation mechanisms, purchasing in the Dharma Market and participating in the Blockchain Immortals game. They also find their place in various external DeFi products within the Algorand ecosystem.

Challenges

  1. Sculpting a novel and efficient mining protocol centred around Algorand smart contracts.
  2. Seamlessly integrating multiple components like blockchain protocol, clients, validators, and crypto-wallets.
  3. Achieving compatibility and efficient communication between the Dharma Network embedded blockchain and the layer 1 Blockchain Algorand.
  4. Ensuring public verifiability of the activity tracker data while maintaining user privacy and data integrity.
  5. Implementing an evaluation system that accurately reflects team members' contributions while accounting for various feedback mechanisms.
  6. Handling the inherent complexities of NFT creation, NFT staking and trading on the Dharma Market.

Challenges

  1. Sculpting a novel and efficient mining protocol centred around Algorand smart contracts.
  2. Seamlessly integrating multiple components like blockchain protocol, clients, validators, and crypto-wallets.
  3. Achieving compatibility and efficient communication between the Dharma Network embedded blockchain and the layer 1 Blockchain Algorand.
  4. Ensuring public verifiability of the activity tracker data while maintaining user privacy and data integrity.
  5. Implementing an evaluation system that accurately reflects team members' contributions while accounting for various feedback mechanisms.
  6. Handling the inherent complexities of NFT creation, NFT staking and trading on the Dharma Market.

Solution

Results

Though ongoing, the collaboration with Dharma Network is a testament to the potential of combining vision with technical prowess. The Dharm Token has surged, becoming one of the top 6 tokens in TVL (Total Value Locked) within the gamut of ASAs. Additionally, the Dharma Market has blossomed by introducing a 1500-piece NFT collection and an active staking program supported by Smart Contracts that has garnered significant attention. With the imminent launch of Dharma Teams, the ecosystem is gearing up for a groundbreaking phase, where Dharm mining will redefine token generation methods.

Other notable results:

  1. Rapid adoption and recognition of the Dharm Token within the Algorand ecosystem.
  2. The establishment of a robust, decentralised, and transparent team evaluation mechanism that sets a precedent for other projects.
  3. Strong community support and growth signal a bright future for Dharma Network's suite of products and innovations.

In weaving together the threads of innovation, technology, and community, Dharma Network and Yarilabs are co-creating a tapestry of success, setting benchmarks and pushing the boundaries of what's possible in the blockchain realm.

Results

Though ongoing, the collaboration with Dharma Network is a testament to the potential of combining vision with technical prowess. The Dharm Token has surged, becoming one of the top 6 tokens in TVL (Total Value Locked) within the gamut of ASAs. Additionally, the Dharma Market has blossomed by introducing a 1500-piece NFT collection and an active staking program supported by Smart Contracts that has garnered significant attention. With the imminent launch of Dharma Teams, the ecosystem is gearing up for a groundbreaking phase, where Dharm mining will redefine token generation methods.

Other notable results:

  1. Rapid adoption and recognition of the Dharm Token within the Algorand ecosystem.
  2. The establishment of a robust, decentralised, and transparent team evaluation mechanism that sets a precedent for other projects.
  3. Strong community support and growth signal a bright future for Dharma Network's suite of products and innovations.

In weaving together the threads of innovation, technology, and community, Dharma Network and Yarilabs are co-creating a tapestry of success, setting benchmarks and pushing the boundaries of what's possible in the blockchain realm.

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