Subscriber NFT API Key (SNAK)

ImmutaSwap will use an NFT collection to serve the same function as API keys on traditional servers. All interaction with the ImmutaSwap API shall require a Subscriber NFT API key (SNAK) for access and authentication. Swap commissions shall only be distributed to wallets containing a valid SNAK.

SNAK's are a web3-friendly way of authenticating and authorizing API requests. ImmutaSwap shall verify that the requestor owns the wallet (i.e., the transaction was digitally signed) and that the wallet is authorized to access the API (i.e., the wallet contains a valid SNAK) using only the information available on the blockchain.

ImmutaSwap will initially release a limited quantity of SNAK's that will expire far in the future (100+ years). ImmutaSwap will consider adopting a subscription-based model and release SNAK's with expiration dates. SNAK's shall be minted and sold as-needed and on-demand.

The following example shows how the SNAK will work with the ImmutaSwap API:

  • Project owner purchases a SNAK from any marketplace and stores it in the wallet where they expect to receive commissions.

  • Project owner visits the ImmutaSwap website and creates a digital signature using the commission wallet and text given by ImmutaSwap. The signer can set the digital signature to never expire or whenever they wish.

  • Project application sends an API request to ImmutaSwap that includes the digital signature.

  • ImmutaSwap receives the client request and verifies the digital signature and ensures that the signature's wallet contains a SNAK.

  • Project owner must visit ImmutaSwap website to claim their commissions.

  • ImmutaSwap will disburse commission payments to project owners upon verification that their wallet address contains a SNAK.

Last updated