The TON ecosystem has witnessed a lot of innovations and mass adoption lately with a TVL ( Total Value locked) of $317.13m.
But, like every growing ecosystem, TON faces some challenges. Its decentralized exchange functionalities are limited and the developers ecosystem with its libraries, tools and resources are not enough for Web 2 developers to build on TON.
Layer Pixel is emerging as Layer 1.5 solution to solve these problems.
Layer Pixel isn’t just another platform but a Defi solution designed to transform the TON ecosystem.
So, get ready for a deep dive into what Layer Pixel is all about.
$DOGS recently airdropped telegram users and more users have been onboarded into the Web 3 world.
What does this mean for the TON ecosystem?
A lot of innovations are coming out and we are going to see a massive rise of telegram mini apps.
But there is a problem,
The Ton ecosystem faces some functional deficiencies which are:
Developer ecosystem and tooling: The Ton ecosystem has a smaller pool of developers and fewer tools for building dApps.
Incomplete Dex functionalities: The current DEX within the TON ecosystem offers only basic features.
This means that the TON’s DEX doesn’t yet support more complex trading functionalities such as multiple pools which limits its utility.
The above problem slows down innovation and makes it harder for new developers ( Web 2 developers) to get involved with the ecosystem.
Layer Pixel is here to solve the issues and take the TON ecosystem to the next level in the upcoming bull run.
What is Layer Pixel?
It is an all-in-one Defi solution for telegram developers.
Layer Pixel aims to make the entire process of token trading, liquidity provision and staking very easy.
It does this by integrating the combined capabilities of Uniswap and Balancer.
Before we dive deeper, what are Uniswap and Balancer?
Uniswap is a decentralized exchange built on the Ethereum blockchain that allows users to trade tokens without relying on centralized authority.
Balancer is a decentralized automated market maker and liquidity protocol that allows users to create customizable liquidity pools with multiple tokens.
Why do we need a Balancer in the TON ecosystem?
Balancer helps with:
Advanced liquidity provision and pool customization.Enhanced liquidity for complex assets. Optimization of asset allocation and yield farming. Impermanent loss mitigation.
Layer pixel’s Defi solutions
Comprising of four components which are:
TonUP: A launchpad on The Open Network (TON) designed to support promising projects in the crypto space.
It aims to address the asset gap within TON and provides a secure environment for new projects to launch.
Note: TonUP incubated LayerPixel.
Pixel swap: The first modular DEX on TON that supports AMM, weighted pools and LBD (Layered Base Data).
Pixel swap helps liquidity providers boost their earnings through various staking pools.
By incorporating staking, lending and liquid mining, users can enjoy optimal returns.
Pixel wallet: An SMC wallet with account abstraction features, allowing users to interact with dApps and the Layer Pixel ecosystem with ease.
Pixacle: Different from other oracles, it takes the price directly from Pixel Swap and updates it with each trade to ensure that data is both real-time and accurate.
Layer Pixel secures $2 million in its seed round funding with participation from Waterdrip Capital, Foresight Venture, TMM club and numerous angel investors.
For easier mass adoption from Web 2 to Web 3 world, Layer Pixel launched a campaign called the ‘Game of Dawn.’
Participants can earn LPX loyalty points by playing and making in-game purchases in partner games.
These LPX Loyalty points will play an important role within the Layer Pixel ecosystem.
More information about the use cases of these points will be announced in the future.
An LPX points Dashboard has been set up on the website where you can view the LPX points you’ve earned so far, the number of users and games that have participated and the rules for reward distribution.
Layer Pixel has partnered with Bot Gameyard.
Bot Gameyard is a platform built on the TON ecosystem which aims to leverage the telegram user base and Web 3 technologies to create a dynamic and exciting gaming experience.
Bot Gameyard has launched their game on telegram called ‘Almost A HERO’ and ‘ISEKAI Adventure’ and has secured investments from MixMarvel DAO Venture and Microcosm Labs.
‘Almost A HERO, ISEKAI Adventure, GITHUB.IO, ALPACA STRIKE’ with several other games have been launched as a part of the campaign. This means more LPX Loyalty points for game participants.
These games will be able to use Layer Pixel’s SDK and integrate into the TON ecosystem.
In conclusion, Layer Pixel can be seen as a Layer 1.5 solution on the TON network.
The products and services offered by this platform will offer smooth API access and SDK integration in the future to developers to empower them to join and contribute to the TON ecosystem without the need to learn new programming languages and in-depth knowledge of blockchain technology.