Written by: Deep Tide TechFlow
Recently, Bitcoin's performance has been excellent, breaking through historical highs and heading straight towards the long-awaited $100,000. After three years of pain, Bitcoin has now enabled the vast majority of holders to achieve profits, and the price nearing $100,000 has once again attracted worldwide attention.
Similarly, the development process of the vast majority of entities will experience its unique growing pains, and the development trajectory of the TON ecosystem this year is the best proof. With the opening of Telegram Mini Apps, the TON Network has welcomed its own cycle, with TVL growth continuing upward and ecosystem hotspots emerging one after another. However, at that time, beneath the surface of the booming TON ecosystem, waves of controversial MiniGame token issuance surged.
This wave of token issuance has superficially brought a brief prosperity to TON: trading volume surged, the number of users skyrocketed, and hot tokens emerged one after another. However, the essence behind this prosperity is that a large number of gaming projects attract users to Farm through simple game mechanics and token incentives, yet it is difficult to maintain long-term value, which not only fails to bring substantial progress to the TON ecosystem but also undermines market confidence to a certain extent.
In addition to the reputational damage caused by the token issuance craze, the current TON ecosystem also faces more fundamental challenges: DeFi facilities are key players in various ecosystems, serving not only as the basic guarantee for user transactions but also as the hub for healthy ecosystem development. Just as the development of ETH cannot be separated from the boost of Uniswap, a good DEX can often become a fulcrum for promoting ecosystem development. However, the current TON ecosystem is clearly struggling in this regard. The inadequacy of decentralized trading infrastructure, the lack of developer toolchains, and the fragmentation of user experience create a series of issues that hinder the effective gathering of liquidity within the ecosystem, making it difficult for project parties to obtain stable and reliable liquidity support. This shortcoming in DeFi infrastructure not only restricts user trading experience but also becomes a critical bottleneck hindering the landing of quality projects, directly affecting the healthy development of the TON ecosystem.
Facing the lack of confidence in the TON ecosystem, LayerPixel, as an All-in-One DeFi solution, is attempting to improve the 'structural issues' within the TON ecosystem through its unique innovative architecture in synergy with its core sub-product PixelSwap.
As PixelSwap is about to have its TGE in Q4, this article will provide an in-depth analysis of PixelSwap and its series of innovative technical implementations to help readers understand PixelSwap's unique features and the details of TGE ahead of time.
PixelSwap: The core DEX under the LayerPixel architecture
To understand PixelSwap, one must first understand its parent project LayerPixel.
LayerPixel, as a Layer 1.5 solution on TON, addresses the limitations of asynchronous and heterogeneous TON chains through a modular architecture design, fully leveraging its sharding advantages. At the same time, LayerPixel seamlessly integrates DeFi functions with Telegram Mini Apps, creating a complete ecosystem that includes wallets, DEXs, and oracles.
In LayerPixel's design architecture, several core components perform their functions:
As the first modular DEX on TON, PixelSwap supports advanced trading models, including weighted pools and LBP.
PixelWallet, as an intelligent 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 has also created a complete toolkit for TON ecosystem developers, including convenient SDKs and APIs, as well as practical experience and tools accumulated by the LayerPixel team during the development process on the TON ecosystem.
As an important part of the LayerPixel architecture, PixelSwap's utility within the TON ecosystem is reflected across multiple dimensions.
In terms of security, the project collaborates with top global blockchain security audit institutions to provide strong protection for user assets. In terms of user experience, PixelSwap integrates deeply with Telegram Bot, developing a smooth Mini App interface that allows users to complete all DEX-related operations with a single click in the familiar Telegram environment, truly achieving 'silky' interaction.
On a deeper technical level, PixelSwap adopts an innovative layered architecture design, supporting multiple 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) offers project parties a more flexible token issuance scheme.
Thanks to the deep technical support of PixelSwap, 'easy user interaction + project token launch' has become possible in the TON ecosystem.
The ecological synergy between PixelSwap and LayerPixel unfolds, providing a clear and complete project incubation pathway designed for TON ecosystem developers:
Developers can quickly build applications using components provided by LayerPixel, and upon success, they can choose to deploy the project on the PixelSwap platform. This synergy 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 clearly defined ecological layout allows developers to focus on product innovation without having to overly worry about the underlying technical implementation and liquidity issues. This is precisely the beneficial interactive model needed for the thriving development of the TON ecosystem.
Exploring the art of simplifying transactions in PixelSwap
Technology is the primary productive force, and to truly understand PixelSwap's uniqueness, it is essential to grasp the technical implementation principles behind its diverse functions.
Atomic swaps: Completing all steps in one package
PixelSwap is the first and only DEX in the TON ecosystem to achieve atomic swaps, one of PixelSwap's notable technological innovations, and the foundation for users to enjoy a smooth trading experience on PixelSwap.
Imagine the process of exchanging tokens on a traditional DEX: first authorizing token A, waiting for confirmation, then authorizing token B, waiting for confirmation again, before finally executing the swap. This process is like needing to pass through three traffic lights to reach the 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. It's like creating a dedicated tunnel in the city, allowing users to complete all transaction steps in one go with a single call from a TON wallet (like TONkeeper).
From a technical implementation perspective, PixelSwap's atomic swap is built on the internal messaging mechanism of TON smart contracts. By carefully designing the contract architecture, it ensures that all transaction steps either succeed entirely or roll back entirely, perfectly aligning with the atomicity requirements of blockchain transaction ACID characteristics. This not only reduces transaction gas costs but fundamentally eliminates the financial risks that may arise from intermediate states.
With the support of atomic swaps, for everyday small transaction needs, users no longer need to go through complicated operational steps; with a single click, the entire necessary steps for the transaction can be automatically completed, packaging and hiding a series of on-chain transaction operations under a concise interface. The entire transaction process is as easy as using Alipay.
Weighted pools and LBP: Innovative liquidity management
On the basis of ensuring an excellent trading experience, PixelSwap has also conducted deep innovations in liquidity management. The platform supports two advanced liquidity pool designs: weighted pools and liquidity bootstrapping pools (LBP).
Traditional DEXs generally use the constant product formula xy=k, like a cup filled with water; when you pour out some water, the remaining water level rises quickly, leading to significant price fluctuations. PixelSwap innovatively introduces the weighted pool mechanism, using a more flexible formula: x^a*y^(1-a)=k, like a container that can adjust its shape, better adapting to market demand.
Based on a weighted pool technical foundation, PixelSwap adopts a dynamic adjustment mechanism LBP (Liquidity Bootstrapping Pools). During the pool operation, the ratio of the two tokens is 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.
Assuming a new project wants to issue tokens on TON. The traditional way is like directly setting up a booth with a fixed price like '1 TON = 100 TOKEN'. But if the price is set too high, no one buys, and if it's too low, it will be snatched up by big holders.
This is where PixelSwap's weighted pools and LBP come into play. It acts like an intelligent market control system:
What is the function of the weighted pool?
Responsible for regulating the exchange rate during transactions, for example, if the project party invests 1 million TOKEN and 1000 TON in the pool, initially allowing TOKEN to be exchanged more easily (high weight), equivalent to giving early supporters a better price.
How does LBP fit in?
It's like setting a timer for this pool, automatically adjusting the difficulty of obtaining TOKEN over time (regulating weights). Perhaps on the first day, 100 TON can be exchanged for 10,000 TOKEN, but by the seventh day, the same 100 TON can only be exchanged for 5,000 TOKEN.
Through the adjustment functions of weighted pools and LBP, the entire token issuance process becomes seamless. Project parties only need to set a reasonable price curve range and let the market discover the price naturally. It's like designing a soft landing runway for the token, avoiding drastic price fluctuations while preventing excessive concentration of funds, achieving truly fair and efficient token distribution.
Value contributors come first, and the distribution of $PIX tokens is strictly selected for real users
As mentioned earlier, the current market attitude towards TON ecosystem project token issuance is not as enthusiastic as during the MiniGame token issuance craze. As the TGE approaches, PixelSwap naturally understands the various concerns of market users, and how to make the $PIX token different from the past, thereby dispelling market prejudices, is a key consideration from the very beginning for the team.
Strictly selected distribution mechanisms and high-quality user profiles
Those who have truly interacted are considered insiders.
Traditional projects often adopt a simple task completion model to obtain airdrops, which easily attracts bot accounts, ultimately leading to significant selling pressure. However, PixelSwap users need to prove their activity through real on-chain interactions. Users swap on the DEX or provide liquidity, increasing their account's 'value' while participating in maintaining the healthy operation of the entire protocol. This deep participation allows users to earn rewards while also cultivating their sense of belonging to the protocol. The team has also cleverly combined GameFi with DeFi. Every real expenditure in the gaming ecosystem can be converted into token point rewards, ensuring that token holders are actual contributors to the ecosystem.
Connecting partners and high-quality users through Airdrop
Through the PIXArena platform, users can engage in substantial interactions such as Farming Pool and Swap with projects in the PixelSwap cooperative landscape to obtain $PIX Airdrop. The 'pay first, harvest later' mechanism effectively screens for high-quality users who truly believe in the project's development. The innovative Airdrop cooperative models within the airdrop platform PIXArena provide cooperative project parties with precise access to real users, creating a natural barrier against bulk account arbitrage.
Token Economics
As a DEX project within the TON ecosystem, PixelSwap's token economics design revolves around sustainability and practical 'long-term' planning. The $PIX token plays a dual role in the ecosystem as both a governance token and an incentive tool.
Token distribution and unlocking
$PIX token's total supply is set at 500 million, using a gradual unlocking mechanism. The community incentive portion occupies half of the share, which will be used to support ecosystem growth, including liquidity mining and trading incentives; early investors account for 20%, with a TGE unlock of 5%, followed by a cliff period of 4 months and a linear unlock of 18 months; the core team and future employees have a 15% token allocation, with a 12-month lockup period and a 2-year linear unlock; additionally, 15% is allocated for special distribution: 3% for IDO, 2% for advisors, and the final 10% for adding liquidity.
Revenue distribution mechanism
The protocol's revenue adopts a balanced distribution scheme, dividing the income into two parts. One part is used to support the core team's development work, ensuring the project can continuously iterate and upgrade; the other part enters a protocol treasury managed by DAO, with the usage rights of these funds entirely decided by community governance.
Early ecosystem construction
In the initial phase after TGE, the team plans to use 3.5% of community tokens to nurture the ecosystem. Among them, 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, for example, 0.14% of the total $PIX will be allocated for the initial subscription on Gate.io on December 18; and 2% will be used for retrospective airdrops and early liquidity incentives.
Conclusion
From initially bearing the grand vision of Real Mass Adoption to now facing dual tests of confidence and enthusiasm, the ups and downs of the TON ecosystem itself are a microcosm of the evolution of emerging entities.
At this current uncertain juncture, the interplay between technological innovation and market perception forms an interesting paradox: the more the market sentiment is sluggish, the more builders grounded in reality are needed; and the less complete the infrastructure is, the more it tests the project party’s technical insight and strategic patience. The practice of LayerPixel and PixelSwap precisely touches on the core of this proposition—while maintaining technological innovation, how to return crypto applications to the essence of solving real problems.
From a broader perspective, the development of any emerging entity is rarely smooth sailing; the short-term decline in enthusiasm may be a necessary process, allowing the entire ecosystem to settle and reflect, thereby finding a clearer direction in the next development cycle.
In this process, what truly deserves attention is not the superficial prosperity or decline, but the practical exploration that genuinely drives ecosystem development beneath the surface of market fluctuations, which may be the ultimate standard for evaluating project value.
