🔄Collection Lifecycle

Collections are the core component for the SZNS platform offering. They allow users to launch a fully decentralized governance system to manage their NFT asset(s) with others who hold the governance token.

The lifecycle of a Collection is important to understand in order to utilize the tech. Ultimately we aim to make the product self explanatory and intuitive with product maturity! Feedback is always welcome (see our requests form or join our discord).

Phase 1. Collection Launch

Note: the Collection launch phase depends on the purpose and mission for the Collection. Often they involve a token sale distribution either to purchase NFTs or to simply provide liquidity to the NFT owner who created the Collection.

The Collection launch process allows a creator to come to SZNS with one or many NFTs and spin up a Collection in a few clicks. At this stage it is important for the creator to understand the token structure, if they want to distribute via a token sale event or manually, and the mission / goals for the Collection.

Specific steps and parameters for this step can be found here. Deployment costs range from 0.2 - 0.7 ETH (dependent on the number of NFTs sent at launch).

Phase 2 – Managing the Collection

After the creation and deposit of the NFTs, the Collections will be fully managed by $COLLECTION token holders. These token holders can easily use Standard Proposals in the SZNS interface. For more complex smart contract interactions more sophisticated Collections may need to rely on Custom Proposals.

The management phase of the Collection optimizes for users ability to decide what to do with their NFTs and assets gained through a liquidation event. At Collection launch the SZNS interface holds a variety of essential proposals (found in the Standard Proposals section of these docs).

Phase 3 – Dissolving the Collection

Some Collections want to continue into the future to re-invest accumulated liquidity into new NFTs and opportunities. Others will decide to fully liquidate and dissolve their Collection via distributing the assets to all token holders. This process will complete when all assets are liquidated and proceeds distributed, otherwise Collections will continue on in the Management Phase of development.

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