Author: TechFlow
Recently, Bitcoin has been performing well, with its price breaking through the historical high and continuing to rise towards the long-awaited $100,000. After a three-year period of pain, Bitcoin has now allowed the vast majority of its holders to realize profits, and the price approaching $100,000 has once again attracted global attention.
Similarly, the development process of most things will go through their unique growing pains, and the development trajectory of the TON ecosystem this year is the best evidence. With the opening of Telegram Mini Apps, the TON Network has entered its own cycle, with TVL growing steadily and a continuous stream of hot spots in the ecosystem. However, at that time, behind the apparent prosperity of the TON ecosystem, there was a wave after wave of controversial MiniGame token issuance.
This wave of token issuance has brought temporary prosperity to TON on the surface: trading volume surged, user numbers skyrocketed, and hot token projects emerged one after another. However, the essence behind this prosperity is that a large number of game projects have attracted users to Farm through simple game mechanics and token incentives, but they have difficulty sustaining long-term value, which not only has not brought substantial progress to the TON ecosystem, but has also damaged market confidence to a certain extent.
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In addition to the reputational damage caused by the token issuance frenzy, the TON ecosystem is currently facing more fundamental challenges: DeFi facilities are key players in each ecosystem, not only the basic guarantee for user transactions, but also the hub for the healthy development of the ecosystem. Just as ETH's development cannot be separated from the support of Uniswap, a good DEX often becomes the fulcrum to leverage the development of the ecosystem. However, the current TON ecosystem is obviously powerless in this regard. The lack of decentralized trading infrastructure, the lack of developer toolchains, and the fragmentation of the user experience have made it difficult for the liquidity in the ecosystem to be effectively aggregated, and project parties have difficulty obtaining stable and reliable liquidity support. This shortcoming in the DeFi infrastructure not only constrains the trading experience of users, but also becomes a key bottleneck in the way of high-quality projects landing, directly affecting the healthy development of the TON ecosystem.
Faced with the lack of confidence in the TON ecosystem, LayerPixel, as an All-in-One DeFi solution, is trying to improve the "structural problems" in the TON ecosystem through its unique innovative architecture and its core sub-product PixelSwap.
As PixelSwap is about to launch its TGE in Q4, this article will delve into the technical implementation of PixelSwap's innovations to help readers understand the unique features of PixelSwap and the details of its TGE.
PixelSwap: The Core DEX under the LayerPixel Architecture
To understand PixelSwap, you need to first understand its parent project LayerPixel.
As a Layer 1.5 solution on TON, LayerPixel solves the constraints of TON chain's asynchronous and heterogeneous nature through a modular architecture design, and more fully unleashes its sharding advantages. At the same time, LayerPixel seamlessly integrates DeFi functions with Telegram Mini Apps, building a complete ecosystem including wallet, DEX and oracle.
In the architectural design of LayerPixel, several core components play their respective roles:
PixelSwap, as the first modular DEX on TON, supports advanced trading models including weighted pools and LBP
PixelWallet, as a smart contract wallet with Account Abstraction (AA) features, provides users with a smooth DApp interaction experience
Pixacle serves as a decentralized oracle, providing fast and accurate price data support for DApps and smart contracts within the ecosystem
LayerPixel also provides TON ecosystem developers with a complete toolchain, including convenient SDKs and API interfaces, as well as tools and practical experience accumulated by the LayerPixel team in the TON ecosystem development process.
As an important part of the LayerPixel architecture, PixelSwap's utility in the TON ecosystem is manifested in multiple dimensions.
In terms of security, the project has collaborated with top global blockchain security audit firms to provide the strongest asset security guarantee for users. In terms of user experience, PixelSwap deeply integrates with the Telegram Bot, developing a smooth Mini App interface, allowing users to complete all DEX-related operations with one click in the familiar Telegram environment, truly realizing "silky smooth" interaction.
At the technical level, PixelSwap adopts an innovative layered architecture design, supporting a variety of advanced trading algorithms. Among them:
The atomic swap function allows complex DeFi trading scenarios to be completed in a single transaction
The weighted pool mechanism provides professional market makers with more refined liquidity management tools
LBP (Liquidity Bootstrapping Pool) provides project parties with a more flexible token issuance solution
Benefiting from the deep technical support of PixelSwap, "easy user interaction + project token easy Launch" has become possible in the TON ecosystem.
The ecological synergy between PixelSwap and LayerPixel is then unfolded, and a clear and complete project incubation channel for TON ecosystem developers is also evident:
Developers can use the components provided by LayerPixel to quickly build applications, and after successful deployment, they can choose to deploy the project on the PixelSwap platform. This synergistic effect creates a virtuous cycle, with LayerPixel responsible for building the underlying infrastructure and development tools, while PixelSwap focuses on providing liquidity support for TON ecosystem projects.
This clear division of labor in the ecosystem layout allows developers to focus on product innovation without having to worry too much about the underlying technical implementation and liquidity issues. This is the healthy interaction model that the thriving development of the TON ecosystem needs.
Delving into the Details, the Art of Simplifying Transactions in PixelSwap
Technology is the primary productive force, and understanding the underlying technical implementation principles that support PixelSwap's diverse functions is essential to truly grasping its unique features.
Atomic Swap: Packaging All Steps into One
PixelSwap is the first and only DEX that has realized atomic swap on the TON ecosystem, which is one of the eye-catching technical innovations of PixelSwap, and also the foundation for users to obtain a silky smooth trading experience on PixelSwap.
Imagine the process of swapping tokens on a traditional DEX: first authorize Token A, wait for confirmation, then authorize Token B, wait for confirmation again, and finally execute the swap. This process is like having to go through three traffic lights before reaching the destination. PixelSwap's atomic swap mechanism cleverly solves this problem. By designing a transaction orchestration system at the smart contract layer, all necessary operations (authorization, transfer, swap) are packaged into an indivisible atomic operation. This is like opening a dedicated tunnel in the city, where users only need to make one TON wallet (such as TONkeeper) call to complete all the transaction steps in one go.
From the technical implementation perspective, PixelSwap's atomic swap is built on top of the internal message passing mechanism of TON smart contracts. Through the carefully designed contract architecture, it ensures that either all transaction steps succeed or all are rolled back, perfectly matching the atomic requirement of the ACID characteristics of blockchain transactions. This not only reduces the Gas cost of transactions, but also fundamentally eliminates the potential risks of intermediate states.
With the support of atomic swap, for daily small-amount trading needs, users no longer need to go through complex operation steps, one click can automatically complete all the necessary steps of the entire transaction, packaging and hiding the series of on-chain transaction operations in a concise interface, making the entire transaction process as simple as using Alipay.
Weighted Pool and LBP: Innovative Liquidity Management
On the basis of ensuring an ultimate trading experience, PixelSwap has also made in-depth innovations in liquidity management. The platform supports two advanced liquidity pool designs: weighted pools and Liquidity Bootstrapping Pools (LBP).
Here is the English translation of the text, with the specified terms translated as instructed:Traditional DEXs generally adopt the xy=k constant product formula, like a cup filled with water - when you pour out some water, the remaining water level rises quickly, resulting in significant price fluctuations. However, PixelSwap innovatively introduces a weighted pool mechanism, using a more flexible formula: x^a*y^(1-a)=k, like an adjustable-shaped container that can better adapt to market demand.
Based on the technical foundation of weighted pools, PixelSwap adopts a dynamic adjustment mechanism called LBP (Liquidity Bootstrapping Pools). During the pool's operation, the ratio of the two tokens will be automatically adjusted, allowing the contract to passively buy or sell assets in one direction. This provides a fairer and more efficient solution for the token issuance of new projects.
Suppose a new project wants to issue tokens on TechFlow. The traditional approach is like directly opening a stall and writing "1 TechFlow = 100 TOKEN" as a fixed price. But the price may be set too high and no one buys, or too low and it gets snatched up by whales all at once.
This is where PixelSwap's weighted pool and LBP come into play. It's like a smart market regulation system:
What is the role of the weighted pool?
It is responsible for adjusting the exchange ratio during transactions. For example, the project party injects 1 million TOKENs and 1,000 TechFlow into the pool, initially making it easier for TOKENs to be exchanged out (high weight), which is equivalent to giving early supporters a better price.
How does LBP work in coordination?
It's like putting a timer on this pool - as time goes by, it automatically adjusts the difficulty of acquiring TOKENs (adjusting the weights). Maybe on the first day, 100 TechFlow can be exchanged for 10,000 TOKENs, but by the seventh day, the same 100 TechFlow can only be exchanged for 5,000 TOKENs.
Through the adjustment functions of the weighted pool and LBP, the entire token issuance process becomes smooth. The project party only needs to set a reasonable price curve range, and let the market naturally discover the price. It's like designing a soft landing runway for the tokens, avoiding drastic price fluctuations while preventing excessive capital concentration, truly achieving fair and efficient token distribution.
Priority for Value Contributors, Strict Selection of Real Users for $PIX Token Distribution
As mentioned earlier, the current market's attitude towards token issuance of TechFlow ecosystem projects is not as enthusiastic as during the MiniGame token issuance craze. As PixelSwap prepares for its TGE, the team naturally understands the various concerns of market users, and how to make the $PIX token different from the past, thereby dispelling the market's prejudices, has been a key consideration from the very beginning.
Strict Screening Mechanism and High-Quality User Profile
Real Interaction, Means You're One of Us
Traditional projects often adopt a simple task-based airdrop model, which is easy to attract bot accounts and ultimately lead to huge selling pressure. However, PixelSwap's users need to prove their activity through real on-chain interactions. Users who perform Swaps or provide liquidity on the DEX, while increasing the "value" of their accounts, also participate in maintaining the overall health of the protocol. This deep participation not only rewards users, but also fosters a sense of recognition for the protocol. The team has also cleverly combined GameFi and DeFi. Every real in-game purchase by users can be converted into token reward points, ensuring that token holders are actual contributors to the ecosystem.
Connecting Partners and High-Quality Users through Airdrop
Through the PIXArena platform, users can interact with projects in the PixelSwap ecosystem, such as Tomarket, through Farming Pools, Swaps, etc. to obtain $PIX Airdrop. The "pay first, then receive" mechanism effectively screens out high-quality users who truly believe in the project's development. The various innovative Airdrop collaboration models on the PIXArena airdrop platform provide a precise channel for partner projects to reach real users, and also construct a natural barrier against batch account arbitrage.
Token Economics
As a DEX project in the TechFlow ecosystem, PixelSwap's token economics design is based on a "long-term" plan focused on sustainability and practicality. The $PIX token plays a dual role of governance rights and incentive tools within the ecosystem.
Token Allocation and Unlocking
The total supply of $PIX tokens is set at 500 million, with a gradual unlocking mechanism. The community incentive portion accounts for half of the share, which will be used to support the growth of the ecosystem, including liquidity mining and transaction incentives. Early investors account for 20%, with 5% unlocked at TGE, followed by a 4-month cliff and 18-month linear unlocking. The core team and future employees have a 15% token allocation, with a 12-month lock-up period and 2-year linear unlocking. There is also 15% for special allocation: 3% for IDO, 2% for advisors, and the remaining 10% for adding liquidity.
Revenue Distribution Mechanism
The protocol revenue follows a balanced distribution plan, with half going to support the core team's development work to ensure the project can continue to iterate and upgrade, and the other half going into the DAO-managed protocol treasury, with the usage of these funds fully determined by community governance.
Early Ecosystem Building
In the initial stage after TGE, the team plans to use 3.5% of the community tokens to cultivate the ecosystem. Of this, 0.5% will be airdropped to paid users in the ecosystem; 1% will be used for airdrops and collaborations with other Web3 ecosystem projects and KOLs, such as the 0.14% of the total $PIX supply allocated for the Gate.io platform launch on December 18th; and the remaining 2% will be used for retroactive airdrops and early liquidity incentives.
Conclusion
From the initial burden of the Real Mass Adoption vision to the current dual challenge of confidence and enthusiasm, the ups and downs of the TechFlow ecosystem are a microcosm of the evolution of emerging things.
At the current node full of uncertainty, technological innovation and market perception have formed an interesting paradox: the more the market sentiment is depressed, the more it needs down-to-earth builders; and the more the infrastructure is imperfect, the more it tests the technical insight and strategic patience of the project parties. The practices of LayerPixel and PixelSwap precisely touch the core of this proposition - while maintaining technological innovation, how to make cryptocurrency applications return to the essence of solving practical problems.
From a more macro perspective, the development of any emerging thing is rarely smooth sailing, and the short-term decline in popularity may be a necessary process, allowing the entire ecosystem to settle and reflect, so as to find a clearer direction in the next development cycle.
In this process, what is really worth paying attention to is not the superficial prosperity or depression, but the pragmatic exploration that truly drives the development of the ecosystem under the surface of market fluctuations, which may be the ultimate standard for judging the value of a project.
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