Written by: TechFlow
Recently, Bitcoin has been on a good trend. After breaking through the historical high, the price has been rising all the way to the long-awaited $100,000. After three years of pain, Bitcoin has now made most holders profitable, and the price of nearly $100,000 has once again attracted the world's attention.
Similarly, the development process of most things will experience its own unique growth pains, and the development trajectory of the TON ecosystem this year is the best proof of this. With the opening of Telegram Mini Apps, TON Network ushered in its own cycle, with TVL growing all the way up and ecological hot spots continuing. However, at that time, under the appearance of the TON ecosystem's explosion, it was accompanied by waves of controversial MiniGame coin issuance.
On the surface, this wave of token issuance brought a short-term prosperity to TON: a surge in trading volume, a surge in the number of users, and an endless stream of hot tokens. However, the essence behind this prosperity is that a large number of game projects attracted users to Farm through simple game mechanisms and token incentives, but it was difficult to maintain long-term value. This not only did not bring substantial progress to the TON ecosystem, but also damaged market confidence to a certain extent.
In addition to the reputation damage caused by the coin issuance boom, the current TON ecosystem itself is also facing more fundamental challenges: DeFi facilities are key roles in each ecosystem. They are not only the basic guarantee for user transactions, but also the hub for the healthy development of the ecosystem. Just as the development of ETH is inseparable from the boost of Uniswap, a good DEX can often become a fulcrum for leveraging the development of the ecosystem. However, the current TON ecosystem is obviously unable to do so. A series of problems such as the imperfection of decentralized trading infrastructure, the lack of developer tool chains, and the fragmentation of user experience make it difficult for the liquidity of funds in the ecosystem to be effectively gathered, and it is difficult for project parties to obtain stable and reliable liquidity support. This shortcoming of DeFi infrastructure not only restricts the user's trading experience, but also becomes a key bottleneck that hinders the implementation of high-quality projects, directly affecting the healthy development of the TON ecosystem.
Faced with the lack of confidence in the TON ecosystem, LayerPixel, an All in One DeFi solution, is trying to improve the "structural problems" in the TON ecosystem through a unique innovative architecture and its core sub-product PixelSwap.
As PixelSwap is about to launch TGE in Q4, this article will help readers understand the uniqueness of PixelSwap and the details of TGE by deeply analyzing PixelSwap and its series of innovative technical implementations.
PixelSwap: The core DEX under the LayerPixel architecture
To understand PixelSwap, you need to first understand PixelSwap's parent project LayerPixel.
As a Layer 1.5 solution on TON, LayerPixel solves the limitations of asynchronous heterogeneity of the TON chain through modular architecture design, and gives full play to its sharding advantages. At the same time, LayerPixel seamlessly integrates DeFi functions with Telegram Mini Apps, building a complete ecosystem including wallets, DEX and oracles.
In the design architecture of LayerPixel, several core components have their own responsibilities:
PixelSwap is the first modular DEX on TON, supporting advanced trading models including weighted pools and LBP
PixelWallet is a smart contract wallet with account abstraction (AA) features, providing users with a smooth DApp interaction experience.
Pixacle, as a decentralized oracle, provides fast and accurate price data support for DApps and smart contracts within the ecosystem.
LayerPixel has also created a complete tool chain for TON ecosystem developers, including convenient SDK and API interfaces, as well as practical experience and tools accumulated by the LayerPixel team in the process of TON ecosystem development.
As an important part of the LayerPixel architecture, PixelSwap’s utility in the TON ecosystem is reflected in multiple dimensions.
In terms of security, the project cooperates with the world's top blockchain security auditing agencies to provide the strongest guarantee for the security of user assets. In terms of user experience, PixelSwap deeply integrates Telegram Bot and develops a smooth Mini App interface, allowing users to complete all DEX-related operations in a familiar Telegram environment with one click, truly achieving "silky" interaction.
Looking deeper into the technical level, PixelSwap adopts an innovative layered architecture design and supports a variety of advanced trading algorithms. Among them:
Atomic swaps enable complex DeFi trading scenarios to be completed in a single transaction
The weighted pool mechanism provides professional market makers with more sophisticated liquidity management tools
LBP (Liquidity Bootstrap Pool) provides project owners with a more flexible token issuance solution
Thanks to PixelSwap’s in-depth technical support, “easy user interaction + easy launch of project tokens” has become possible in the TON ecosystem.
The ecological synergy between PixelSwap and LayerPixel then unfolded, and a complete project incubation channel for TON ecosystem developers became clear:
Developers can use the components provided by LayerPixel to quickly build applications, and after success, they can choose to deploy the project to the PixelSwap platform. This synergy creates a virtuous circle, 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 allows developers to focus on product innovation without having to worry too much about underlying technology implementation and liquidity issues. This is exactly the benign interaction model needed for the TON ecosystem to flourish.
Take a look at PixelSwap’s art of trading that makes it easy
Technology is the primary productive force. To truly understand the uniqueness of PixelSwap, it is essential to understand the technical implementation principles behind its diverse functions.
Atomic swaps: all steps packaged together
PixelSwap is the first and only DEX to implement atomic swap in the TON ecosystem. It is one of PixelSwap’s most notable technological innovations and the basis for users to have a smooth trading experience on PixelSwap.
Imagine the process of exchanging tokens on a traditional DEX: first authorize token A, wait for confirmation, then authorize token B, wait for confirmation again, and finally execute the exchange. This process is like going through three traffic lights to reach your destination. PixelSwap's atomic swap mechanism cleverly solves this problem. By designing a transaction orchestration system at the smart contract level, all necessary operations (authorization, transfer, exchange) are packaged into an indivisible atomic operation. This is like opening a dedicated tunnel in the city, and users can complete all transaction links in one go with just one call to a TON wallet (such as TONkeeper).
From a technical implementation perspective, PixelSwap's atomic swap is built on the internal messaging mechanism of the TON smart contract. Through a carefully designed contract architecture, it ensures that all transaction steps are either successful or rolled back, which perfectly meets the atomicity requirements of the ACID characteristics of blockchain transactions. It not only reduces transaction gas costs, but also fundamentally eliminates the financial risks that may be caused by the intermediate state.
With the support of atomic swaps, users no longer need to go through complicated operation steps for daily small transaction needs. With one click, they can automatically complete the necessary steps of the entire transaction. The series of operation paths of on-chain transactions are packaged and hidden under a simple interface. The entire transaction process is as simple as using Alipay.
Weighted Pools and LBP: Innovative Liquidity Management
On the basis of ensuring the ultimate trading experience, PixelSwap has also made in-depth innovations in liquidity management. The platform supports two advanced liquidity pool designs: weighted pool and liquidity bootstrap pool (LBP).
Traditional DEX generally adopts the constant product formula of xy=k, just like a cup full of water. When you pour out some water, the remaining water level will rise rapidly, which causes large price fluctuations. PixelSwap innovatively introduces the weighted pool mechanism and adopts a more flexible formula: x^a*y^(1-a)=k, which is like a container with adjustable shape, which can better adapt to market demand.
Based on the technical foundation of weighted pools, PixelSwap adopts a dynamic adjustment mechanism LBP (Liquidity Bootstrapping Pools). During the operation of the pool, 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 issuance of tokens for new projects.
Suppose a new project wants to issue tokens on TON. The traditional way is to open a stall and write a fixed price like "1 TON = 100 TOKEN". But if the price is set too high, no one will buy it, and if it is set too low, it will be snapped up by big players 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 weighted pools?
Responsible for adjusting the exchange ratio during transactions. For example, the project party invests 1 million TOKENs and 1,000 TONs in the pool, making it easier for TOKENs to be exchanged at the beginning (high weight), which is equivalent to giving early supporters a better price.
How does LBP cooperate?
It is like installing a timer on this pool, which automatically adjusts the difficulty of obtaining tokens (adjusts the weight) over time. Maybe on the first day, 100 TON can be exchanged for 10,000 TOKENs, but on the seventh day, the same 100 TON can only be exchanged for 5,000 TOKENs.
Through the adjustment function of 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 discover the price naturally. It is like designing a soft landing runway for the token, which not only avoids drastic price fluctuations, but also prevents excessive concentration of funds, and truly realizes fair and efficient token distribution.
Priority is given to value contributors, and $PIX token distribution strictly selects real users
As mentioned above, the current market attitude towards TON ecosystem projects is not as enthusiastic as it was during the MiniGame coin issuance boom. PixelSwap, which is about to launch TGE, naturally understands the various concerns of market users. How to make the token $PIX different from the past and dispel the market's prejudice has been the focus of the team from the beginning.
Strictly screened distribution mechanism and high-quality user portraits
If you have truly interacted with someone, you are one of us.
Traditional projects often adopt a simple task punching mode to obtain airdrops, which is easy to attract robot accounts and eventually bring huge selling pressure. PixelSwap users need to prove their activity through real on-chain interactions. Users swap or provide liquidity on DEX, which increases the "gold content" of their accounts while also participating in maintaining the healthy operation of the entire protocol. This deep participation not only allows users to obtain rewards, but also cultivates users' sense of identity with the protocol. The team also cleverly combines GameFi with DeFi. Every real krypton gold that users spend in the game ecosystem can be converted into token points rewards. This mechanism ensures that token holders are actual contributors to the ecosystem.
Connect partners with high-quality users through Airdrop
Through the PIXArena platform, users can obtain $PIX Airdrop through substantial interactions such as Farming Pool and Swap with projects in the PixelSwap cooperation map such as Tomarket. The "pay first, then gain" mechanism effectively screens out high-quality users who are truly optimistic about the development of the project. The various innovative Airdrop cooperation models in the airdrop platform PIXArena provide cooperative project parties with channels to accurately reach real users, and also build a natural barrier to prevent bulk account arbitrage.
Token Economics
As a DEX project in the TON ecosystem, PixelSwap’s token economics design revolves around “long-term” planning for sustainability and practicality. The $PIX token plays a dual role as a governance right and an incentive tool in the ecosystem.
Token Allocation and Unlocking
The total supply of $PIX tokens is set at 500 million, with a progressive unlocking mechanism. Half of the tokens will go to community incentives, which will be used to support ecosystem growth, including liquidity mining and trading incentives; 20% to early investors, 5% to TGE, followed by a 4-month cliff period and 18-month linear unlocking; 15% of the tokens will go to the core team and future employees, with a 12-month lockup period and a 2-year linear unlocking; and 15% will be used for special allocations: 3% for IDO, 2% for consultants, and the last 10% for adding liquidity.
Income distribution mechanism
The protocol revenue adopts a balanced distribution plan, dividing the revenue into two parts. One part is used to support the development work of the core team to ensure that the project can continue to iterate and upgrade; the other part goes into the protocol treasury managed by the DAO, and the use of these funds is entirely decided by community governance.
Early ecosystem construction
In the initial stage after TGE, the team plans to use 3.5% of the community tokens to cultivate the ecosystem. 0.5% of them will be airdropped to paying users in the ecosystem; 1% will be used for airdrops and cooperation with other Web3 ecosystem projects and KOLs, such as 0.14% of the total $PIX allocated to the Gate.io platform initial subscription on December 18; and 2% will be used for retroactive airdrops and early liquidity incentives.
Conclusion
From the initial ambition of Real Mass Adpotion to the current dual test of confidence and enthusiasm, the ups and downs of the TON ecosystem itself is a microcosm of the evolution of emerging things.
At the current point of uncertainty, technological innovation and market cognition form an interesting paradox: the more depressed the market sentiment is, the more down-to-earth builders are needed; and the more imperfect the infrastructure is, the more the project party's technical insight and strategic patience are tested. The practice of LayerPixel and PixelSwap just touches the core of this proposition - how to make crypto applications return to the essence of solving practical problems while maintaining technological innovation.
From a more macro perspective, the development of any emerging thing is unlikely to be smooth sailing. The short-term decline in popularity may be a necessary process, giving the entire ecosystem a chance 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 downturn, but the pragmatic exploration that truly promotes ecological development under the appearance of market fluctuations. This may be the ultimate standard for judging the value of a project.
