Ships, Captains, and Sailors
Last updated
Last updated
There are 3 primary actors in the Sail ecosystem: the Ship, Captain, and Sailors.
Ship: Smart contract where NFTs and ETH are held. Every Ship has two goals:
1) Crowdfund ETH to buy NFT(s) 2) Sell the NFT(s)
When a Ship is launched, corresponding ERC20 are minted that represent the Ship's governance token. $SHIP Tokenholders manage the group of contracts that facilitates the crowdfund of ETH, distribution of ownership, purchase/sale of NFTs, and distribution of profits. (As of 2023.08.01, new Ships deploy ERC721 NFTs as Membership Tokens instead of ERC20 Tokens. See section).
Captain: The Captain launches the Ship and is responsible for buying and listing NFT(s) for sale.
Sailors: Sailors contribute ETH and receive $SHIP governance tokens. They can use the $SHIP tokens to claim their share of ETH from NFT sale proceeds.
Collectively, all members of a Ship are referred to as the Crew.