{"id":16215,"date":"2024-08-19T16:06:15","date_gmt":"2024-08-19T13:06:15","guid":{"rendered":"https:\/\/forklog.com\/en\/layerpixel-a-review-of-defi-infrastructure-for-the-ton-ecosystem\/"},"modified":"2024-08-19T16:06:15","modified_gmt":"2024-08-19T13:06:15","slug":"layerpixel-a-review-of-defi-infrastructure-for-the-ton-ecosystem","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/layerpixel-a-review-of-defi-infrastructure-for-the-ton-ecosystem\/","title":{"rendered":"LayerPixel: a review of DeFi infrastructure for the TON ecosystem"},"content":{"rendered":"<p>In July the Telegram team unveiled new app features, including a Web3 browser built on The Open Network (TON) blockchain. By the end of the month, total value locked (TVL) in the network <a class=\"tracking_link\" href=\"https:\/\/defillama.com\/chain\/TON\" target=\"_blank\" rel=\"noopener\">exceeded<\/a> $700m, putting it among the 15 largest DeFi ecosystems.<\/p>\n<p>These developments followed Pavel Durov\u2019s statement that the messenger\u2019s user base is nearing 1bn thanks to \u201ctappers\u201d. <a class=\"tracking_link\" href=\"https:\/\/layerpixel.io\/\" target=\"_blank\" rel=\"noopener\">LayerPixel<\/a> is a solution that provides multi-layer DeFi infrastructure for developers of these and other mini-apps in Telegram.<\/p>\n<h2 class=\"wp-block-heading\">Layer 1.5<\/h2>\n<p>According to LayerPixel representatives, the project aims to simplify development on TON. At the end of July the company <a class=\"tracking_link\" href=\"https:\/\/x.com\/LayerPixel_io\/status\/1816786111966203976\" target=\"_blank\" rel=\"noopener\">announced<\/a> the completion of a $2m seed round led by venture firm Kenetic Capital. Other participants included Waterdrip Capital, Foresight Venture, VentureSouq, Web3 Port, Microcosm Research and TMM Club.<\/p>\n<p>The LayerPixel team highlights several traits of The Open Network:<\/p>\n<ul class=\"wp-block-list\">\n<li>unlike Ethereum, transactions are finalized (or rejected) asynchronously. The sharding mechanism creates extra hurdles when building DeFi applications that require fast and precise transaction confirmations;<\/li>\n<li>TON uses more complex contract logic for token transfers, increasing the likelihood of coding errors.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cHaving encountered these problems, we realized the need to create reliable development tools on The Open Network and decided to take on the role of pioneers and lay the foundation, a Layer 1.5 for the DeFi infrastructure of the TON ecosystem,\u201d<\/em> \u2015 explain LayerPixel representatives.<\/p>\n<\/blockquote>\n<p>The solution\u2019s architecture comprises four layers:<\/p>\n<ol class=\"wp-block-list\">\n<li><strong>Funding<\/strong>. Handles asset storage in PixelWallet and other wallets, providing basic fund-management functions.<\/li>\n<li><strong>Settlement<\/strong>. Uses the LayerPixel Settlement Engine to record and execute each transaction in a timely manner.<\/li>\n<li><strong>Execution<\/strong>. Matches trades via AMM Engine, Weighted Pool Engine and LBP Engine. These complement each other, providing liquidity for DeFi protocols.<\/li>\n<li><strong>Extension<\/strong>. Third-party solutions operate at this level. For example, developers can plug in an anti-money-laundering (AML) service.<\/li>\n<\/ol>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXeg5Z3TQnz4HNzuGnnj6qNKHucUuGbN4DJwuclL7sojpnS0fLKgU5zfVquhEGkieX42TvbqQWeg2Ttr195T-c7sCKGmfMl5vdpFUF-SwF2HPrfy1FoRFO2NNKq4lcbgd-ucMLhafxwfJMFBrEn-5UQdLlE?key=VFjunSVpF5EdIvOXlnErAQ\" alt=\"LayerPixel: a review of DeFi infrastructure for the TON ecosystem\"\/><figcaption class=\"wp-element-caption\">LayerPixel architecture. Source: <a class=\"tracking_link\" href=\"https:\/\/layerpixel.io\/\" target=\"_blank\" rel=\"noopener\">LayerPixel<\/a>.<\/figcaption><\/figure>\n<p>LayerPixel also <a class=\"tracking_link\" href=\"https:\/\/layerpixel.io\/\" target=\"_blank\" rel=\"noopener\">is developing<\/a> the PixelWallet wallet, the modular DEX PixelSwap, the price oracle Pixacle and the Game of Dawn platform. Users of the latter earn points in games, which can later be converted into LPX tokens.<\/p>\n<h2 class=\"wp-block-heading\">PixelWallet and PixelSwap<\/h2>\n<p>Among PixelWallet\u2019s features:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>gasless transactions. <\/strong>User fees are covered by third-party protocols;<\/li>\n<li><strong>atomic swaps. <\/strong>Complete several transactions in a single operation;<\/li>\n<li><strong>additional authentication methods.<\/strong> Users can generate a passkey or a MetaMask signature.<\/li>\n<\/ul>\n<p><a class=\"tracking_link\" href=\"https:\/\/www.pixelswap.io\/\" target=\"_blank\" rel=\"noopener\">PixelSwap<\/a> is a modular decentralised exchange on TON that supports:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>weighted-pool swaps. <\/strong>To manage trading pairs the platform uses a contract similar to Uniswap V4;<\/li>\n<li><strong>multiple trading algorithms.<\/strong> In addition to standard pools the exchange supports weighted pools and smart pools (Liquidity Bootstrapping Pools, LBP).<\/li>\n<\/ul>\n<p>The DEX\u2019s modular design allows it to be tailored to varied developer needs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIn combination with gasless transactions and several PixelWallet authentication methods, we will significantly improve the user experience of trading on the DEX. Such a LEGO construction is ideal for building flexible DeFi solutions on TON,\u201d \u2015 comment the project\u2019s representatives.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Game of Dawn<\/h2>\n<p>The aim of <a class=\"tracking_link\" href=\"https:\/\/layerpixel.io\/dashboard\" target=\"_blank\" rel=\"noopener\">Game of Dawn<\/a> is to attract real users to Telegram games, eliminate bots and lay the groundwork for the development of the LayerPixel token (PLX). To that end the developers added to the platform:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>a paid subscription<\/strong> to filter fake accounts;<\/li>\n<li><strong>conversion of points into LPX<\/strong>, which can be sold or used in the LayerPixel ecosystem;<\/li>\n<li><strong>a multi-level distribution structure<\/strong>: the longer a player engages with Game of Dawn, the more points they receive.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cDifferent gaming projects on TON face the same difficulties: their tokens have no real utility, and the applications are exploited by a large number of bots. We want to create a community of real users and a platform focused on the overall development of GameFi on Telegram, rather than a specific game,\u201d<\/em> \u2015 note LayerPixel.<\/p>\n<\/blockquote>\n<p>At the time of writing, two games are <a class=\"tracking_link\" href=\"https:\/\/layerpixel.io\/dashboard\" target=\"_blank\" rel=\"noopener\">available<\/a> on Game of Dawn: Almost a Hero and Isekai Adventure. Three more are in development.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXenjjrs3HwUvqfAtO4k4tZ_79GIqkSsA5_iymUs0_acapBMYfsNvAmS7_CN4HGehyNZlKUk-z15pUz1n8CGX7c1Bn4FHrM-dZYrdWOr7HbhVmY3L9c4R9gl3VYePd8C_O1jdIALAvpGJziGQGc_xAnbgmw?key=VFjunSVpF5EdIvOXlnErAQ\" alt=\"LayerPixel: a review of DeFi infrastructure for the TON ecosystem\"\/><figcaption class=\"wp-element-caption\">Game of Dawn titles. Source: <a class=\"tracking_link\" href=\"https:\/\/layerpixel.io\/dashboard\" target=\"_blank\" rel=\"noopener\">LayerPixel<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Conclusions<\/h2>\n<p><a class=\"tracking_link\" href=\"https:\/\/layerpixel.io\/\" target=\"_blank\" rel=\"noopener\">LayerPixel<\/a> is a start-up seeking to occupy the niche of an infrastructure provider in TON\u2019s growing DeFi ecosystem.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cBy 2026 LayerPixel will open all functionalities for third-party developers. They will be able to use LayerPixel technology to build various decentralised applications in the TON ecosystem,\u201d<\/em> \u2015 claim LayerPixel.<\/p>\n<\/blockquote>\n<p>In the near future the project will add cross-chain bridges to increase liquidity on the DEX and support for other networks such as Ethereum, making LayerPixel a multichain platform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In July the Telegram team unveiled new app features, including a Web3 browser built on The Open Network (TON) blockchain. By the end of the month, total value locked (TVL) in the network exceeded $700m, putting it among the 15 largest DeFi ecosystems. These developments followed Pavel Durov\u2019s statement that the messenger\u2019s user base is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1093,1364],"class_list":["post-16215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-defi","tag-the-open-network"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16215"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16214"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}