Sail Protocol Update
Improved trading experience, cheaper gas, and Sailor governance. Public beta now open -- anyone can launch a Ship!
Ahoy Sailors and Captains!
We are thrilled to announce a major update to Sail Protocol, an important milestone in our journey towards creating a more efficient, trustless, and fun NFT group trading experience.
This update to the Sail Protocol is largely focused on providing an enhanced NFT trading and purchase experience for Captains, reduced transaction costs, and the introduction of the first Sailor Governance action that puts decision-making into the hands of Sailors, while staying true to our philosophy of effective and efficient DAO decision-making.
New NFT Purchase Experience for Captains
In this update, we have entirely revamped the NFT purchase experience for our Captains. Now, you can browse NFTs natively on the platform and purchase multiple NFTs simultaneously. This update eliminates the previously slow and cumbersome process of buying one NFT at a time via copying and pasting OpenSea links.
Trimming Gas Costs
We recognize that Ethereum gas costs have been a significant barrier for our users. We’ve managed to slash up to ~66% of gas costs for listing by employing EIP-1271 to sign and populate order signatures. As a reminder, each Ship is a SAFE contract address rather than an EOA.
In addition to EIP-1271, we’ve also given Captains the ability to lower asset listings without the need to cancel and we reduced the cost associated with claiming ETH once a Ship has docked.
Accepting Offers as a Captain
We’ve further improved the NFT trading experience as a Captain by enabling accepting Offers on NFTs.
Additionally, we improved the listing experience by allowing Captains to decrease the listing price without needing to cancel the order. This should provide Captains additional gas savings as they list their NFTs in their endeavor for profit.
Captains can now list or accept offers in order to sell their NFTs. 🤑
Anyone can be a Captain
Previously in order to launch a Ship, a user needed to hold the OG Captain Pass NFT. With this update, the ports are open! Anyone may now launch a Ship as a Captain and gather Sailors to raise ETH and purchase NFTs together.
We strongly encourage every Captain to link their Twitter accounts so that Sailors can trust who is actually launching a Ship.
Sailor Governance: Veto Listings
Perhaps the most exciting feature in this update is the introduction of Sailor Governance, which allows Sailors to participate in meaningful actions performed as a Ship.
Sailor Governance is based on a custom OpenZeppelin governance module that we have integrated with our Ship Module (again as a reminder, each Ship is a SAFE). It allows Sailors to create and vote on Proposals that can execute certain actions on the Ship contract. The first Sailor Governance action is “Veto Listings”.
Sailors can veto any NFT Listing created by the Captain by triggering a Veto Proposal. That Proposal is voted on by all Sailors in the Ship, and if a majority votes in favor, then the Listing is canceled on-chain.
This highlights Sail Protocol’s “minimized governance” philosophy, where each Ship functions as an atomic DAO with clear governance where Sailors are able to have meaningful decisions if there is a clear majority, but Captains are able to make decisions quickly, solving the usual problem of DAOs being slow to action or having low participation rates.
We’re excited to introduce more Sailor Governance actions and look forward to seeing how this affects Ship governance. Other developers in the SAFE ecosystem who are interested in seeing how you can attach governance modules like we have, please reach out and let’s work together!
Charting the Course Ahead
These updates mark a significant leap forward in our journey to create the most fun and effective NFT group trading experience.
If you are interested in creating or joining a Ship, you can visit our website and join our Discord.
You can also read our documentation for more details on how Sail works and how to use it effectively. We look forward to seeing your Ships sailing on the NFT seas!
Keep Sailing, Sail Protocol Team