1. Product Name
PixelPulp
2. Product Description
PixelPulp is a KLAY coin traded NFT aggregator with advanced features, on multi-chain which is a platform that allows users to view, buy, and sell non-fungible tokens (NFTs) across multiple blockchains using KLAY which is the native cryptocurrency of Klatyn Blockchain. This means that users can access NFTs from different blockchains all in one place. PixelPulp is unique as it will only allow transactions to be made using KLAY tokens. KLAY token is used as a medium of exchange within the platform. Users must acquire KLAY coins before they can buy or sell NFTs on the platform. The platform offers a seamless user experience by simplifying the buying, sweeping, and selling of NFTs. Users can easily browse through the available NFT collections on the platform and make purchases using their KLAY tokens. Similarly, sellers can list their NFTs for sale and receive KLAY tokens in exchange for their tokens. PixelPulp is also set to launch its very own bridge for the Klaytn blockchain. This strategic initiative aims to establish a seamless and efficient connection between the Klaytn network and other prominent blockchains. There are different business models that Genesis Lab is considering to integrate, such as loyalty points, zero or reduced transaction fees, etc. These potential enhancements aim to further enrich the user experience and make PixelPulp an even more engaging and user-friendly platform for the NFT community.
Services:
Wallet Connection: Provides the facility to connect with popular wallets to access your NFTs and assets.
- Supported Wallets:
- Metamask
- Kaikas Wallet
- Coinbase wallet
- WalletConnect
- Disconnect a wallet
- Show wallet balance and address
- View all collections
- 1 day
- 7 days
- 30 days
- View NFTs of a collection
- Search filter in NFT of collections
- Dynamic filters according to collection properties
- Sort NFTs by
- Price low to high
- Price high to low
- Rare to common
- Common to rare
- Make a collection offer
- Select attributes
- Cancel Offer
- Sweep multiple NFTs of collection
- Add to cart option or remove from cart
- View cart
- Buy a NFT individually using KLAY
- Buy multiple NFTs from multiple marketplaces using cart
- Confirmation before checkout from Wallet
- Owner can view his/her portfolio
- View all purchased owned NFTs
- View all offers made by user
- Sale purchased NFT
- View Active & Inactive listing
- View his activities
- Apply filters on activities like
- Sales
- Listings
- Offers
- Transfer
- Mints
- Sell your items in KLAY
- View received offers against your items
Architecture Diagram:
The architecture diagram of Pixelpulp is shown below:
PixelPulp Bridge
PixelPulp will also utilize a bridge for cross chain transfers, which will empower users to
effortlessly transfer assets and liquidity between distinct blockchain networks, expanding the accessibility and utility of the Klatyn ecosystem.
Bridging Process
The process of swapping KLAY from the Klaytn blockchain to ETH on the Ethereum blockchain involves several steps and components, ensuring a seamless and secure transfer of assets. It involves the following steps:
- Swap to oETH on Klaytn Chain: Initiate the asset swap from KLAY to oETH on the Klaytn blockchain using Klayswap.
- Convert oETH to ETH on Ethereum Chain: Transfer oETH tokens from Klaytn to Ethereum via OrbitBridge.
- Lock and Deposit: Lock tokens on Klaytn, triggering a deposit event in the Klaytn Vault. Bridging data is sent to the Orbit Hub.
- Bridge Validation: Bridge Validators in the Orbit Hub reach consensus on the bridging data.
- Mint ETH Tokens: Ethereum Minter generates ETH tokens on Ethereum, mirroring the oETH tokens from Klaytn.
- Complete Lock Process: Klaytn Vault finalizes the LOCK process, securely holding locked tokens.
- Execute Swap: Ethereum Minter initiates the swap, converting oETH into ETH tokens on Ethereum.
The breakdown of the fees associated with the different steps:
- Conversion from KLAY to oETH (KLAYswap):
Gas fee for initiating the conversion on the Klaytn Network. - oETH to ETH Bridging Fee (Orbit Bridge):
Network fee for interacting with the OrbitBridge smart contract on the Ethereum network. The bridge fee for using OrbitBridge is set at 50 OORC of the transaction amount. - Transaction Fees for Buying the NFT:
Gas fee for executing the smart contract transaction on the Ethereum network.
3. Grant Proposal
The Genesis IT Lab’s team hopes to receive a total of 65,000 USD (7887 KLAY) in support from the Klaytn Community Fund.
These costs represent the allocation of funds in USD and their equivalent values in KLAY for the development, marketing, and operating expenses related to the PixelPulp project.
For the breakdown of budget, please refer to:
Project Budget
4. Expected Impact for the Klaytn Ecosystem
Why is PixelPulp Important for Klaytn Blockchain (Klay Coin)?
PixelPulp plans to bring together the liquidity of various NFT marketplaces (daily $64 USD Millions) across different blockchains onto the Klaytn blockchain. This means that users will have access to a wide range of NFTs from various marketplaces, all in one place, on the Klaytn blockchain.
By bringing together the liquidity of NFT marketplaces on different blockchains, PixelPulp aims to create a more streamlined and efficient NFT trading experience for users. With a diverse range of NFTs available on the all blockchain, users will have greater flexibility and choice in the NFTs they can buy, sell, and trade using Klay coin.
PixelPulp will:
- Allow the buying and selling of NFTs exclusively in Klay (Klaytn) even if the NFT is minted on any other chain such as Ethereum, Binance Chain, Solana and Polygon etc.
- Requires gas fees to be paid in Klay.
There are several benefits to the Klaytn ecosystem.
- Firstly, it can help increase the demand for Klay coin as users will need to purchase Klay in order to buy NFTs on the PixelPulp platform. This can result in increased demand and potentially drive up the price of Klay coin, benefiting Klaytn ecosystem.
- Secondly, using Klaytn exclusively can increase the usage and adoption of the blockchain. As more users transact on the platform, it can help to demonstrate the efficiency, speed, and security of the Klaytn blockchain, thereby attracting more users and developers. This can lead to more adoption of Klaytn in various industries, and increased usage can also create more demand for Klay.
- Thirdly, by allowing NFT transactions exclusively in Klay, it can help to create a unique selling point for the Klaytn blockchain compared to other blockchain platforms. This can differentiate Klaytn and help it to stand out in the crowded blockchain market.
- Moreover, by aggregating liquidity from various NFT marketplaces (daily $64 USD Millions) onto the Klaytn blockchain, PixelPulp contributes to the overall liquidity of the KLAY coin. As more NFT transactions occur exclusively in KLAY, it bolsters KLAY’s liquidity and stability, making it an attractive cryptocurrency for traders and investors.
PixelPulp also aims to capture at least 5-10% of the total NFT market value, which was $24.2 billion in 2022 (By Decrypt). By achieving this goal, our platform seeks to facilitate approximately $2.4 billion in NFT trading volume in the Klay coin. We aim to attract and bring at least 10% of the total NFT user base onto the Klaytn blockchain, which is expected to significantly enhance the adoption and growth of Klay (KLAY) as a preferred cryptocurrency for NFT transactions.
In addition to capturing market value, PixelPulp also aims to expand its user base significantly. With a total of 9,136,714 NFT users in 2022, our goal is to onboard at least 10% of these users, which translates to approximately 913,671 new users on the Klaytn blockchain. By providing a seamless and user-friendly experience for NFT enthusiasts and offering innovative business models like loyalty points and reduced fees, we aim to foster a thriving NFT community and empower users with greater choices and benefits in their NFT journey.
Overall, by allowing NFT transactions exclusively in Klay, it can benefit Klaytn by increasing demand, driving up the price, increasing adoption and usage, and creating a unique selling point for the platform.
5. Project Milestones
Milestone 1: KLAY Transaction Functionality
Objective: Develop the functionality for seamless KLAY transactions within the platform.
Estimated Completion Time: 2 Weeks
Seamless NFT Listing and Transaction
- Develop the capability for users to list their NFTs for sale on the platform.
- Allow users to set their desired prices in KLAY.
- Ensure users can execute transactions smoothly.
User-Friendly KLAY Interface
- Implement a user-friendly interface that simplifies navigation and interaction for KLAY-based transactions.
Secure User Interaction with Klaytn Blockchain
- Empower users to securely interact with the Klaytn blockchain.
- Enable seamless transactions and NFT trading using their preferred wallets.
Deliverable 2: Indexer
Objective: Develop the Indexer, the backbone of the Aggregator, responsible for monitoring and indexing data from different blockchains and decentralized exchanges (DEXs).
Estimated Completion Time: 1 Week
Integrated Indexer Components
- Develop and integrate all components of the Indexer.
- Ensure the Indexer is fully functional for tracking and indexing data.
Deliverable 3: Aggregator
Objective: Create the Aggregator component, including essential features for NFT trading.
Estimated Completion Time: 2 Weeks
Functional Real-Time OrderBook
- Develop a functional OrderBook system capable of real-time recording of buy/sell orders.
- Ensure proper integration within the platform.
Metadata Engine and Data Lake Integration
- Build a comprehensive metadata engine and integrate it with a data lake.
- Ensure efficient processing, storage, and retrieval of NFT-related data for analysis and project use.
Instant Sell Feature
- Implement a seamless and rapid instant sell feature.
- Enable users to quickly sell their NFTs at prevailing market prices within the Aggregator platform.
Bulk Order Creation
- Develop functionality that allows users to create multiple orders simultaneously.
- Streamline the process of listing NFTs for sale or trade.
Buy & Sweep Feature
- Implement a convenient “Buy & Sweep” feature.
- Enable users to purchase and collect multiple NFTs with a single transaction.
Floor Prices Integration
- Integrate a floor prices mechanism within the Aggregator.
- Display minimum acceptable prices for NFTs.
Deliverable 4: Data Analytics
Objective: Develop data analytics capabilities to provide insights into platform activities.
Estimated Completion Time: 3 Weeks
Real-Time Activity Tracking
- Implement real-time tracking of user activities, including listings, bids, transfers, and sales.
Historical Analytics
- Create a historical daily volume and sales tracking system.
- Monitor trends over time for informed decision-making.
Price Changes Monitoring
- Develop functionality to monitor price changes for NFT collections.
Flagged Status Changes
- Enable tracking and reporting of flagged status changes for specific tokens.
Metadata Analysis
- Add metadata analysis functionality to enhance data insights.
Deliverable 5: Buy/Sell/Sweep with KLAY
Objective: Develop functionality to enable seamless KLAY transactions within the platform.
Estimated Completion Time: 2 Weeks
Seamless KLAY Transactions
- Develop functionality that allows users to transact using KLAY as intended.
User-Friendly KLAY Interface
- Implement a user-friendly interface for smooth navigation and interaction for KLAY-based transactions.
6. Team Information
A dynamic team of tech innovators specializing in blockchain, software engineering, AI/ML, and product management.
Team Name: GenesisLab Innovators
Representative: Faisal Naveed
- Core Team Members:
- Faisal Naveed (CTO)
- Mohammad Amin Jan (Sr. Project Manager)
- Azka Qureshi (Product Manager)
- Malik Saqib Iftikhar (Backend Developer)
- Muhammad Hassan Raza (Software Engineer)
- Muhammad Shakil (CEO & Researcher)
Portfolio:
Blockchain Profile
7. Official Links
- Organization Website: https://www.genesislab.com/
- Organization GitHub: Genesis IT Lab · GitHub
- Project’s GitHub: PixelPulp · GitHub
- Organization Facebook: Genesis It Lab
- Organization Instagram: Genesis IT Lab (@genesisitlab) • Instagram photos and videos
- Organization LinkedIn: Genesis IT Lab | LinkedIn
- Organization Twitter: https://twitter.com/GenesisLabCom?t=0VeKW9VF0jweZ2XuzjAFZw&s=33
- Organization Telegram: Telegram: Contact @GenesisLab_Official
- Organization YouTube: https://www.youtube.com/channel/UCSxAXtC4bCNeLoeW88QUDSg
8. Summary
In the realm of blockchain and NFTs, the issue of fragmentation plagues the user experience. NFTs are scattered across various blockchains, each with its own unique set of tokens, wallets, and marketplaces. Users looking to explore, purchase, or trade NFTs face a fragmented landscape that hampers their ability to access a broad spectrum of digital assets seamlessly.
PixelPulp emerges as the solution to this problem. It’s a multi-chain NFT aggregator that consolidates NFTs from diverse blockchains onto a single platform. This aggregation simplifies the user experience, allowing individuals to explore, buy, and sell NFTs from Ethereum, Polygon, Solana, Binance Smart Chain, and more, all within one ecosystem.
At the core of PixelPulp is the KLAY token, which serves as the medium of exchange on the platform. Users must acquire KLAY tokens to engage in NFT transactions, ensuring a unified and streamlined process.
With PixelPulp, we’re taking a proactive approach to enhance the NFT ecosystem. By aggregating liquidity from different blockchain marketplaces, we’re boosting the vibrancy of the Klaytn blockchain. Users will have a vast array of NFTs at their fingertips, and the exclusive use of Klay tokens will drive demand for Klay, ultimately benefiting the Klaytn blockchain and its ecosystem.
We believe that our platform will not only simplify NFT transactions but also contribute to the broader adoption of blockchain technology. Through this positive approach, we’re poised to reshape the NFT landscape and solidify Klaytn’s position as a hub for NFT enthusiasts worldwide.
We kindly request a thorough and positive review not only for the continuation and rapid growth of the PixelPulp project, but also to enhance the vibrancy of the Klaytn ecosystem and its global recognition.