b. 📝 Smart Contract Structure

Smart contracts serve as the foundational building blocks of the Ibiza Token ecosystem, enabling secure and automated transactions without the need for intermediaries. These smart contracts are primarily written in Solidity, a high-level programming language specifically designed for Ethereum. By deploying these contracts on both the Ethereum and Arbitrum networks, Ibiza Token ensures scalability and reduced gas fees for its users.

The smart contract infrastructure of Ibiza Token comprises various contracts that work together to provide comprehensive functionality within the ecosystem. Key contracts include the $IBZ token contract, the NFT Marketplace contract, the IbizaPay contract, and the DAO contract.

The $IBZ token contract plays a crucial role in managing the creation, distribution, and transfer of the $IBZ utility token. It encompasses features such as staking, rewards, and token governance, empowering token holders with the ability to participate in the ecosystem's activities and decision-making processes.

The NFT Marketplace contract governs the creation, listing, and selling of non-fungible tokens (NFTs) within the Ibiza Token ecosystem. It incorporates functionalities like bid management, royalty distribution, and purchase history tracking, providing a seamless and secure environment for NFT transactions.

The IbizaPay contract acts as a bridge between traditional fiat currencies and cryptocurrencies within the ecosystem. It facilitates the conversion of fiat to crypto and vice versa, as well as enables the seamless payment of goods and services using $IBZ. By removing intermediaries and leveraging the security and efficiency of smart contracts, IbizaPay ensures secure and cost-effective transactions.

Lastly, the DAO contract establishes a decentralized autonomous organization (DAO) framework for governing the Ibiza Token ecosystem. It empowers community members to propose and vote on changes, allowing for decentralized decision-making and ensuring that the community has an active role in shaping the project's future. The DAO contract also manages the distribution of community rewards and funds, promoting community engagement and fostering a sense of ownership among token holders.

Collectively, the smart contract infrastructure of Ibiza Token provides a secure, efficient, and transparent platform for community members to interact, transact, and contribute to the growth and development of the ecosystem.