MillionDollarDAPP is a homage to The Million Dollar Homepage and shows how applications can profit by being powered by Blockchain. Users can buy ERC-20 MDAPP tokens. Each token allows to claim a 10×10 pixel square and to control its content. Claiming pixels does lock the appropriate amount of tokens. Releasing the pixels unlocks them again. Data is stored at the Ethereum Blockchain, images are automatically uploaded to IPFS. MillionDollarDAPP be able to replay the applications evolution from an empty canvas to a blooming and lifely advertisement, greetings and opinion platform.
|Hard cap||1,000,000 USD|
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In order to overcome these limitations they‘ve build the MillionDollarDAPP on top of the Ethereum blockchain and the Interplanetary Filesystem (IPFS). Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference. Its blockchain is similar to the one of Bitcoin with the main difference that Ethereum also supports so called Smart Contracts. Theseare tiny program codes written by application developers which have their own Ethereum address. Once a transaction is send to that address, the appropriate code is executed on all Ethereum nodes, guaranteeing the correct result to be secured by the Ethereum consensus algorithm.
These features are used to govern ownership of the pixels, their content, the tokens and the whole sale. IPFS on the other side is a decentralized file storage system. Each node is able to store its own data and to request data from other nodes. Data can be replicated over multiple nodes if the data has enough significance to the respective node owners.
The MillionDollarDAPP consists of four components, of which three are hidden from the user. The first is the frontend, a SPA (single page application) build with Vue.js. This is the public component When a user uploads an image, it‘s getting passed over to the second component, a Node.js server application called „ipfs-proxy“. It is responsible to validate the file type and size and to hand the file over to IPFS without storing it there permanently.
MDAPPSale responsible for all matters regarding the sale, this contract keeps track
of the ETH/USD exchange rate by querying an oracle. It also keeps track of the
MDAPP token supply and guarantees a maximum of 10,000 tokens. Further, this
contract recognizes if a purchase has been made through a referral link and, if so,
grants 10% of the spent ETH to the account of the recruiter. To incentivize support of this project, the contract owner is able to grant bounties by creating new tokens on behalf of the beneficiary.
The easiest way to handle the sale of pixels would be to accept Ether directly. Once the payment was received, the pixels would be credited to the sending account. However, this would limit the ability of trading as we had to handle this either internally within the application or bind pixels to non-fungible tokens (i.e. ERC721 standard). We considered both approaches but came to the conclusion that an application.
Since MDAPP is only a utility token for a ready-to-use product and neither an investment nor a share, Know-Your-Customer (KYC) is not required. However, buyers must confirm not being a U.S. or Singapore or People’s Republic of China citizen resident or entity (a “U.S. or Singapore or PRC”) nor are purchasing MDAPP tokens on behalf of a U.S. or Singapore or PRC person, or registered professional investor permitted to purchase digital tokens by regulations of respective countries.
The purchaser of MDAPP token undertakes that (s)he/it understands and has significant experience of cryptocurrencies, blockchain systems and services, and that it fully understands the risks associated with the Token Sale as well as the mechanism related to the use of cryptocurrencies (incl. storage). MillionDollarDAPP and/or its author shall not be responsible for any loss of MDAPP token or situations making it impossible to access MDAPP token, which may result from any actions or omissions of the user or any person undertaking to acquire MDAPP token, as well as in case of malicious third party (hacker) attacks.
Patrick Stürmlinger FOUNDER
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