What’s Coming in Charged Particles V2

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Charged Particles

4 min readJan 27, 2022

Introduction

Charged Particles V1 has been live since February of 2021, and V2 is right around the corner. Over the course of the past year we’ve learned a lot about our protocol, how people use it, and what improvements need to be made in order to further support our mission of being the premier protocol combining NFTs and Decentralized Finance. This post outlines what V1 is capable of, what improvements are coming in V2, and when and how you will be able to use V2 of the protocol.

*Key Takeaways / tl;dr available at the bottom of the post*

What’s Possible in V1?

Charged Particles V1 is the first iteration of our protocol that allows you to supercharge your NFT in various ways. Each Charged Particles-powered NFT (Particle) has the following core functionality in V1:

Depositing into and Withdrawing assets from your Particles, including: interest-bearing ERC-20 tokens (via an Aave integration), other fungible ERC20 tokens, NFTs that follow the ERC-721 Standard.
Time-locking your Particle’s nested assets — they cannot be withdrawn until the date of the lock has passed
Creator Royalties — For every sale after the first sale of a Particle, a portion of the sale price will be directed back to the original creator
Creator Annuities — Upon creation of a Particle creators can set a percentage of the interest earned in that NFT that they will have the rights to in perpetuity

What’s new in V2?

In addition to all of the existing V1 functionality, V2 will offer:

Additional support for whitelisted ERC-721 NFTs — you will now be able to deposit assets into whitelisted NFTs just as you would a Proton, whereas in V1 you could only view certain whitelisted NFTs on https://app.charged.fi; these improvements allow us to advance closer to our vision of enabling any NFT to hold additional Digital Assets. Now your favorite (whitelisted) PFP NFT can hold other tokens
Support for depositing ERC-1155 tokens, such as OpenSea and Rarible 1155 NFTs, into a Particle
The ability to claim an airdrop on behalf of a Particle — for example. If your NFT has PoolTogether tickets deposited inside of it and is earning POOL tokens, you’ll be able to claim those POOL rewards on behalf of the NFT from https://app.charged.fi
The ability to redirect creator annuities from the original creator to a third party
A new Proton contract (ProtonB) with some minor gas improvements
A Sample Non-fungible implementation of the ERC-1155 token standard

Additional detail on the new contracts included as part of the V2 upgrade and updates to our developer documentation will be posted at the time of launch.

What happens to V1 after V2 goes live? Do I need to do anything with my V1 Particles?

Charged Particles V1 will continue to exist on the Ethereum and Polygon blockchains as long as those networks continue to run; if you have been using Charged Particles V1 in the past, you will not lose your NFTs or any assets inside of them after the upgrade.

Do I need to do anything with my V1 Particle for it work on V2?

All V1 Particles will automatically work with V2, but will now have 2 separate wallets associated with them, the original wallet and second wallet with additional functionality (referred to hereafter as Wallet A and Wallet B).

All new funds added to a Particle will automatically be deposited into Wallet B. In order for all of your Particle’s funds to have access to this new creator annuities functionality, users must migrate funds from Wallet A to Wallet B manually by withdrawing them from Wallet A and then depositing them into Wallet B.

A full guide on how to migrate from the original wallet to wallet B will be available after V2 launch.

Testnet Launch announcement + Details

V2 of the protocol will be live on the Kovan and Mumbai testnets before mainnet; we are planning to have completed our testnet deployments by the week of January 30th, 2022. The team is currently hard at work updating our subgraph and app ahead of our launch on the Ethereum and Polygon Mainnets as well.

Any developers interested in receiving support for building on V2 testnet contracts should reach out via Discord in the #development-guild channel, we would love to help you build your project on top of Charged Particles!

As soon as our testnets are live we will publish updates to our documentation and post an announcement on our social channels and Discord.

Key Takeaways

Charged Particles V2 will be launching on testnets in early February, and on Ethereum and Polygon mainnet shortly afterwards
V1 of the protocol will remain active in perpetuity
The primary V2 enhancements include support for more types NFTs, the ability to claim an airdrop on behalf of an NFT, and improvement to existing functionality that helps support creators

About Charged Particles

Charged Particles is a protocol that allows users to deposit ERC-20, ERC-721, and ERC-1155 tokens into NFTs. A scarce NFT (e.g. Art, Collectible, Virtual Real Estate, In-Game Item, etc.) can now be transformed into a basket holding a number of other tokens. The Principal amount can be time-locked inside the

NFT, and through integration with Aave’s aTokens, the programmable yield from these DeFi yield-generating assets is just a few clicks away.

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