Cypher Key Daily Auctions | Nouns/DIGITALAX CC0 Fork + Governance Token Distribution
The Cypher Key Daily Auctions are public-private interval auctions with gated cryptography challenges that combine to unlock F₃M’s native governance token distribution and accessory experiences and keys within the ecosystem.
The contracts have been personally forked from the DIGITALAX CC0 Daily Auctions — Nouns DAO Auctions.
The Navigators of the ZK Cypherpunk Zeitgeist are integral to the work of solving each encrypted puzzle. Along the way you will score and collect essential cryptographic techniques and knowhow.
Enter a world of Cyphernauts, abandoned textile factories and forbidden cryptographic wizardry.
As you continue your journey only the pyromaniac insecure ransackers of ancient libraries will limit how far you can go.
Day 1 Cypher Key: The Abandoned Textile Factory
Our story begins with magical text that emerged into a vivid scene of an abandoned textile factory. The Cyphernaut attendants left in a rush, filled with fear their encryption methods were about to be broken. With fabrics left hanging that skirt the limits of concealment, you have a choice — meet the reserve and begin to crack the code or wonder what you’ve missed until someone else beats you to it. It’s only a matter of time until the workshop is found. Take what you can, some materials are more valuable than others.
The first auction to go live on Polygon is a Day 0 auction reserved for the DAO. Ethereum public auctions begin as usual.
How it Works?
Every 24 hours an NFT is placed live for auction on Ethereum with a reserve price and associated story cypher. Anyone can bid publicly on the NFT within a 24 hour period. The highest bidder receives the NFT at the end of the auction. If they also put in the work to solve the cypher they unlock the F₃M governance token bounty. To receive the governance bounty you must meet the reserve, win the auction and solve the cypher. If you don’t solve the cypher you only receive the NFT.
If a reserve is not met within the 24 hour period of the NFT going live then it is moved to the private auction on Polygon. Here, only F₃M governance token holders are able to bid on the piece. They must also solve the cypher in order to receive the bounty along with the content during the private auction.
Gamified Governance Distribution
Token community coordination governed by asymmetric encrypted gates allows for more interactive and useful economic machinery to be run on a massive game-like scale. The distribution of the F₃M governance token in this way incentivises members of the ecosystem to gain and practice the most common everyday and vital dexterity and fluency necessary to decypher, use, operate and create the asymmetric encryption mechanisms and their ideographic products that power the entire modern global economy.