Big Picture Coin: Token, Lottery and Staking Smart Contracts on Ethereum
Three contracts in one package: a fixed-price token, a lottery and staking, with an audit, fixes and launch instructions
About the project
- Project: Big Picture Coin, a token for a film-industry community
- Industry: Film and entertainment, blockchain
- Timeline: December 2021 – February 2022
- Technologies: Solidity, Truffle, Ethereum, JavaScript, Infura
- Team: a smart-contract developer and a project manager
Big Picture Coin is a token for a film-industry community. The client wanted three things in one smart-contract package: a token with a fixed price, a lottery and staking. He also wanted to launch fast, on the Ethereum network, and to put the contracts behind his existing website.
We worked on it from the first estimate in December 2021 until the launch in February 2022. Our part was the smart contracts and the help needed to deploy them, and the client's team built the website and the design.
What we delivered
THE CHALLENGE
- A token with a fixed price.
- A lottery and staking.
- A fast launch on Ethereum.
- A website that cannot call a blockchain.
THE SOLUTION
- Token, lottery and staking contracts.
- Tests that double as usage examples.
- A deployment script and a README.
- Launch instructions for the client's team.
THE OUTCOME
- Contracts in the client's repository.
- Audit findings fixed in a day.
- A way to connect the Wix site.
- A launch in February 2022.
A token launch leaves no room for second tries: the contracts must be small, tested and clear to the team that deploys them.
Estimate and scope
We started with the client's term sheet for the first phase. In the estimate, we split the work into coding, testing, a security audit by a third party and a buffer, for about four weeks in total.
Two early decisions shaped the project. First, the client asked to link the token to another asset. We explained that this needs a stablecoin with real cash reserves, so the token got a fixed price instead. Second, we warned that some token marketplaces do not accept a contract owner from the United States, so the client could plan the legal side in advance.
The contracts
Our smart-contract developer wrote the token, the lottery and the staking contract. The Ethereum network limits the size of a contract, so we planned time to refactor the code to fit into it.
Each contract came with tests that double as usage examples, and a deployment script. The README listed the steps and warned about three staking functions that exist only for testing and must be switched off before launch. In January 2022 we also wrote step-by-step launch instructions: use the real management and funds accounts, deploy to a test network first and to the main network after that. The code went to the client's repository on 17 January 2022.
Audit and fixes
The client ordered a security audit and a penetration test of the site from an independent company. The reports arrived on 4 February 2022. As a result, our developer fixed the findings within a day and pushed the corrected version on 6 February.
The contract was small, so the fixes were small as well.
Connecting the website
The client's website was built on Wix, which cannot talk to a blockchain out of the box. Three pages needed it: Buy and Sell, the Lottery and Staking.
We described the approach: custom JavaScript on each page reads the public methods of the contracts through an Infura node, and only the current staking balance is calculated on the page, so the visitor never pays for read calls. In addition, we estimated the front-end work. The client's team then built the pages from their own Figma design.
What turned out to be hard
- Contract size. Ethereum limits the size of a contract, so we planned time to refactor the code to fit.
- A site that cannot call a blockchain. Wix needed a custom JavaScript layer, so we designed it around public read methods.
- A bug after launch. After the deployment, the client reported that a staking ID did not change when a stake was removed. We switched the storage from a list to a mapping and fixed the next-ID logic in about half an hour, and the contract was redeployed.
- Fast deployment. The client wanted to move quickly, so we wrote the launch instructions and the deployment script in a way that let his team deploy on its own.
Result of the project
The client launched Big Picture Coin in February 2022 with the token, the lottery and staking on Ethereum. Before the launch, the contracts and the website went through an independent audit and a penetration test, and our findings were fixed within a day.
Looking for token contracts for your project? See our blockchain development services or read how we built governance contracts and an admin dashboard on Polygon. The contracts run on Ethereum and the website reads them through Infura.
Need a token, staking or a lottery on a blockchain? Tell us about your task.
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