MEGA-ACE Hackathon Project: NFT Call Options

• 1st Place Winner in the RPI Hackathon
• 3rd Place Winner in the Global Hackathon

Links

• Live Testnet Interface: link
• Writeup: link
• Pitch Video: link

Overview

An Algorand smart contract and dapp that allows NFT holders to sell options against their NFTs, and allows NFT traders to buy those options.

Option Mechanics

• Call option: the buyer has the right to buy the NFT from the seller for a strike price
• Equity settled: the option is settled by transferring the NFT to the buyer for a strike price
• American-style: this can only be done once, before the expiry date

Usage Instructions

Prerequisites

• Python 3 and pip
• Node.js and npm
• algokit

Setup

Create a virtual environment for the Python dependencies

python3 -m venv .venv

Activate the virtual environment

On Linux and macOS:

source .venv/bin/activate

On Windows:

.venv\Scripts\activate.bat

Install the Python dependencies

python3 -m pip install -r requirements.txt

Compile the smart contract

This step requires your algokit localnet node to be running:

algokit localnet start

Compile command:

python3 contracts/option.py

Install the dapp frontend dependencies

cd dapp
npm install

Run the dapp

cd dapp
npm run dev

This will start a local server at http://localhost:3000.

Try out the dapp

You can visit the page in a web browser to interact with the dapp.

It supports many different wallet options for connecting to the Algorand network:

• Pera
• MyAlgo
• Defly
• Exodus
• AlgoSigner
• WalletConnect

Note: The dapp is configured to run on the Algorand TestNet, so you will need to fund your wallet with some testnet ALGO. You can also edit dapp/.env.local if you want to use a different network.