Nexspecto-EN
  • 1. Legal Disclaimer
    • 1.1. Disclaimer of Liability
    • 1.2. Governing Law and Jurisdiction Clause
    • 1.3. Notification of Whitepaper Revision
  • 2. An Overview
    • 2.1. What is Nexspecto
    • 2.2. Web3 Powered Savings
    • 2.3. Enhanced Support for Multiple Platforms
      • 2.3.1. Nexspecto Web App
      • 2.3.2. Multi-Chain Infrastructure
    • 2.4. Experienced Founders & Tech Specialists
  • 3. Strategic Direction
    • 3.1. Nexspecto’s Mission
    • 3.2. Nexspecto’s Vision
      • 3.2.1. Short-Term Vision
      • 3.2.2. Long-Term Vision
  • 4. Overview of the Market
    • 4.1. Savings Market Statistics
    • 4.2. Web3 Savings/Passive Income Markets
    • 4.3. Crypto & NFT Markets
  • 5. How Nexspecto Platform Works?
    • 5.1. Nexspecto Genesis: Savings Groups
    • 5.2. Connecting With Web3
    • 5.3. Creating Saving Groups
    • 5.4. Participating Savings Groups
    • 5.5. How Savings Groups Works?
      • 5.5.1. Savings Groups’ Characteristics
      • 5.5.2. Savings Group’s Pool Size
      • 5.5.3. Participation Fee
      • 5.5.4. Savings Group’s Asset
      • 5.5.5. Blockchain Preference
      • 5.5.6. Payment Periods
      • 5.5.7. Liquidation Process of Saving Group Participant
        • 5.5.7.1. Penalty Fee
        • 5.5.7.2. Selling the Participation NFT
        • 5.5.7.3. Sustaining the Saving Groups
        • 5.5.7.4. Payment to Liquidated User
      • 5.5.8. Picking The Winner
      • 5.5.9. Collateral Model of Savings Groups
      • 5.5.10. Ending a Savings Group
  • 6. Nexspecto's Web3 Fuels: Tokens, NFTs, and Beyond
    • 6.1. PECTO
      • 6.1.1. Unveiling PECTO's Transformative Utilities
        • 6.1.1.1. Native Token of Nexspecto
        • 6.1.1.2. PECTO for Exclusive Platform Discounts
        • 6.1.1.3. Rewarding Liquidity Providers
        • 6.1.1.4. Loyalty Rewards
        • 6.1.1.5. PECTO Based Savings Groups
        • 6.1.1.6. Exclusive Access to Real World Assets (RWAs)
        • 6.1.1.7. Gateway to Tokenized Assets
        • 6.1.1.8. Governance Token
      • 6.1.2. PECTO Tokenomics
    • 6.2. Nexspecto In-Platform NFTs
      • 6.2.1. NFTs As Participation Proofs
      • 6.2.2. Premium NFTs
      • 6.2.3. Nexspecto ID NFTs as Soulbound NFTs
      • 6.2.4. RWAs Based Fractionalized Nexspecto NFTs
      • 6.2.5. Nexspecto NFT Marketplaces
        • 6.2.5.1. Participation NFTs Marketplace
        • 6.2.5.2. RWAs Based Fractionalized NFT Marketplace
  • 7. Infrastructure
    • 7.1. Savings Groups
    • 7.2. PECTO
    • 7.3. Nexspecto NFTs
    • 7.4. Nexspecto’s Security & Smart Contract Audits
  • 8. The Nexspecto DAO
    • 8.1. How Nexspecto DAO Works?
  • 9. Nexspecto's Path to Progress
  • 10. Nexpecto Team
  • 11. Thank You
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  1. 5. How Nexspecto Platform Works?
  2. 5.5. How Savings Groups Works?

5.5.8. Picking The Winner

In a savings group, a winner will be determined randomly at the end of each period through a smart contract-based algorithm.

Chainlink Verifiable Random Function (VRF) will be utilized for smart contract-based draws to determine the winner in each savings period.

Chainlink VRF provides on-chain verifiable randomness with a random number generator to prevent unintended consequences or manipulation of the relevant smart contract by malicious actors.

When generating a random value for a smart contract, Chainlink VRF also generates a cryptographic proof of how it reached at the random value in accordance with predetermined criteria in each request, and this proof is published and verified on-chain.

By determining the winner with random numbers generated with Chainlink VRF, the Nexspecto platform provides an additional and very important layer of security for their respective smart contracts, while providing its users with on-chain proof that the winner determination process has not been manipulated by any actor.

The lucky winner of the relevant period will be eligible to receive the savings accumulated in that period.

Each participant can only be selected for one period and can only be paid once.

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Last updated 1 year ago