Three Models
Different Models for Different User Scenarios
Last updated
Different Models for Different User Scenarios
Last updated
In RentFun’s Access Delegation Protocol (ADP) design, there are three models of the access delegation：
Under this model, the NFTs still stay in the Owner’s EOA address with 100% control of the Owner. The Owner can choose to delegate the access rights of a specific NFT he or she owns to a Renter’s EOA address directly. The Renter will login the original NFT issuer’s DApp with his or her own EOA address.
Under this model, the Owners can still choose to transfer or sell the NFTs under rental to other addresses. This model will give the chance for the NFT owners to sell an NFT which bears a renting contract.
However, this model will make the NFT renting functions too complicated at the first stage. RentFun will consider this model to empower the NFT owners with the rights to sell the NFTs under rental.
Under this model, the NFT Owners’ EOA address creates a Vault Account(contract address) which is 100% controlled by the owner. The Owner needs to transfer the NFTs he or she wants to lend out into this Vault Account.
Then the owner delegates the access rights of this Vault Account to the Renter’s EOA address so that the Renter will have the access rights to the NFTs within this contract address.
Renter interacts with the original NFT issuer’s DApp with his or her own EOA address, and the original NFT issuer will identify the Renter’s EOA address as the user of the NFTs rented. This model will be the main choice of RentFun’s ADP in the first stage since it is similar to the situation faced by RentFun right now.
Under this model, the Owners’ EOA address will also create a Vault Account which is 100% controlled by the owner. The Owner needs to transfer the NFTs he or she wants to lend out into this Vault Account.
Thereafter the Owner delegates the access rights of this Vault Account to the Renter’s EOA address so that the Renter will have the access rights to the NFTs within this Vault Account.
As opposed to Model 2, the Renter can interact with the original NFT issuer’s dApp with this Vault Account directly, and the original NFT issuer will identify the Renter as the user of this Vault Account which keeps the NFT.
This model will be better to reach an automatic rewards split between NFT Owners and Renters, since the rewards earned by the Renter will be automatically allocated into this Vault Account first by the NFT Issuer.
At the same time, this model will make it easier for the NFT issuers to accept since they can keep the simple verification logic about the user login as they did before: only verify whether the current login address (whether EOA or Vault Account) has related NFTs.
However, this model will require the NFT issuers to accept the users to login with a contract address, which is very common in the DeFi space but not so popular in the Crypto Games space. The reason behind this is that presently a lot of Crypto Games are just issuing the assets on blockchain but deploying main functions of the games off-chain.
RentFun, however, thinks that more and more users will login with a contract address in the Crypto Games space, since the 100% on-chain games are becoming a growing trend. At that time, model 3 will be the main solution of RentFun’s ADP design.
As written above, RentFun ADP V1 version will mainly utilize Model 2 (NFT Owner’s Contract Address Delegates to Renter’s EOA and Renter Uses EOA To Login) to realize the access delegation between NFT Owners and Renters in the first stage. Then Model 3 will be enabled if the NFT issuer supports the user to log in with a contract address. Model 3 perfectly matches the demand of automatic rewards split from game guilds.
In the ADP V1 design, the Owners’ NFTs will be safely kept in a contract address 100% controlled by the Owner. The Owners will only need to delegate the access right of the NFTs within this contract address to the Renters.
After the delegation, the Renters can login the NFT issuer’s DApp, like games or Metaverse, with his or her own EOA address. The Renter will be identified as an NFT user by the NFT issuer.
In order to make it easy to understand, we will use Alice and Bob as an example:
NFT Owner Alice creates a contract address which is 100% under her control on RentFun Platform.
Alice transfers the NFTs she wants to lend out into this contact address.
Alice delegates the access right of this contract address to Renter Bob. After that, Both Alice and Bob have no rights to transfer the NFTs within this contract address.
Bob can login the NFT issuer’s project, like games or Metaverses, which will identify Bob as a user of the rented NFT through RentFun’s SDK.
When the renting period ends, the access delegation between Alice’s NFT and Bob will end automatically. Bob will have no access rights to Alice's NFT any more, and Alice is free to withdraw back her NFTs to her EOA address.
