A Modular DEX on TON for Efficient Swaps, Liquidity Pools, and Decentralized Governance

Introduction

PixelSwap is a decentralized exchange (DEX) on The Open Network (TON) blockchain, designed with a modular architecture that supports various trading models, including weighted pools and Liquidity Bootstrapping Pools (LBP). The platform facilitates atomic transactions for decentralized finance (DeFi) applications and integrates with LayerPixel to provide SDKs, APIs, and wallet solutions for developers. The $PIX token functions as the ecosystem’s governance and utility asset, enabling staking, liquidity incentives, and protocol decision-making. Security measures include smart contract audits, a bug bounty program, and continuous monitoring to ensure system integrity.

What is PixelSwap (PIX)?

PixelSwap is a decentralized exchange (DEX), operating on The Open Network (TON) blockchain. The architecture is modular and upgradeable, supporting various trading algorithms, including weighted pools and Liquidity Bootstrapping Pools (LBP). The platform facilitates atomic transactions, enabling complex decentralized finance (DeFi) scenarios. Currently in its Beta stage, PixelSwap is undergoing security audits to ensure the integrity of its smart contracts.

The $PIX token serves as the governance token within the LayerPixel/PixelSwap ecosystem. Users can obtain $PIX tokens by engaging with the ecosystem’s products and can participate in governance decisions. The token incentivizes users, maintains protocol security, and ensures sustainable development. The total supply of $PIX is 500 million tokens, distributed across various categories with specific vesting schedules to promote long-term commitment and ecosystem growth.

PixelSwap collaborates with LayerPixel to enhance DeFi interactions for Telegram Mini App developers. The platform provides software development kits (SDKs), application programming interfaces (APIs), and tools tailored for the gaming and DeFi sectors, aiming to create a comprehensive ecosystem.

Security is a cornerstone of PixelSwap’s development, the platform’s smart contracts have been audited by a leading global agency to ensure robustness and reliability. Users are advised to know potential security risks during the Beta stage.

PixelSwap Protocol’s Main Features

Permissionless Pools and Incentives

PixelSwap allows users to create and manage liquidity pools without requiring approval, this permissionless approach enables participants to add liquidity to existing pools or establish new ones, facilitating a diverse range of trading pairs. The platform offers incentives such as a share of transaction fees and potential rewards in the form of $PIX tokens to encourage liquidity provision.

Built-in Telegram Bot

The platform integrates a Telegram bot to streamline user interaction, enabling users to execute trades, monitor market trends, and manage their assets directly within the Telegram application. Using the widespread use of Telegram, PixelSwap aims to make decentralized trading more accessible and user-friendly.

Easy-to-use SDK & API

PixelSwap provides software development kits (SDKs) and application programming interfaces (APIs) to facilitate integration with external applications. Developers can utilize these tools to build custom solutions, such as trading bots, analytics platforms, or decentralized applications (dApps), that interact seamlessly with PixelSwap’s infrastructure. The SDKs and APIs are designed to be user-friendly, reducing the complexity associated with blockchain development.

DAO Controlled Liquidity

The platform employs a decentralized autonomous organization (DAO) model to manage liquidity. Token holders participate in governance by voting on proposals related to liquidity management, such as adjusting fees, adding new trading pairs, or modifying incentive structures. This decentralized approach ensures that decisions reflect the community’s collective interests, promoting transparency and inclusivity in the platform’s operations.

Technical Architecture

PixelSwap is a decentralized exchange (DEX) built on The Open Network (TON) blockchain. Its technical architecture is designed to support various trading algorithms, including weighted pools and Liquidity Bootstrapping Pools (LBP). The platform facilitates atomic transactions, enabling the execution of complex decentralized finance (DeFi) scenarios. PixelSwap is currently in its Beta stage and is undergoing security auditing to ensure the integrity of its smart contracts.

The platform’s modular design allows for flexibility and scalability, accommodating different trading curves such as constant curves, weighted pools, and LBPs. This modularity enables the platform to adapt to various market needs and supports the implementation of diverse trading strategies.

PixelSwap integrates with LayerPixel, a DeFi component built on the TON blockchain, aiming to provide a better DeFi interaction method for Telegram Mini App developers. This integration enhances the platform’s capabilities and extends its reach within the TON ecosystem.

The platform’s security measures include undergoing audits by leading global agencies to ensure the robustness of its smart contracts, and the users are advised to be aware of potential security risks during the Beta stage.

Tokenomics

What is $PIX Token?

The $PIX token is the utility and governance token of the PixelSwap ecosystem, operating on The Open Network (TON) blockchain. It facilitates platform transactions, enables participation in governance through the PixelSwap Improvement Proposal (PIP) process, and provides liquidity incentives for users.

The total supply is fixed at 500 million tokens, with allocations structured to support long-term sustainability. Holders can stake tokens for protocol security and vote on fee structures, treasury fund utilization, and ecosystem development.

The token is designed to integrate with DeFi applications, supporting interoperability across the TON network. Liquidity providers earn $PIX rewards, incentivizing sustained participation. Transaction fees collected in $PIX contribute to protocol operations and funding initiatives. Users engaging with PixelSwap products and services can acquire tokens through airdrops, staking, or trading.

PIX Utility

The $PIX token fulfills several functions within the protocol:

• Permissionless Interaction: Facilitates open and unrestricted engagement with the protocols.
• Ecosystem Development Funding: Secures resources for ongoing and future development initiatives.
• Value Capture: Accumulates value generated from protocol activities.
• Governance Participation: Encourages involvement in the governance of specific network functionalities.
• Protocol Security Staking: Allows staking to enhance the security of the protocol.

While holding $PIX tokens is not mandatory for using PixelSwap and LayerPixel services, possessing the token provides additional incentives for users.

PIX Supply and Allocation

The total supply of $PIX tokens is capped at 500,000,000, distributed as follows:

• Investors and Early Supporters (20%): 5% available at Token Generation Event (TGE), followed by a 4-month cliff and 18 months of vesting.
• Initial Decentralized Token Offering (3%): Subject to a 3-month vesting period.
• Core Team and Future Employees (15%): Includes a 1-year cliff and 2 years of vesting.
• Advisors (2%): Subject to a 6-month cliff and 1.5 years of vesting.
• Community (50%): Vested over 4 years.
• Liquidity (10%): Allocated to support liquidity needs.

At the TGE, the initial circulating supply will be 17% of the total, designated for network security, functionality maintenance, marketing, and community development.

PIX Vesting Schedule

The vesting schedule for $PIX tokens is structured to ensure gradual distribution:

• Investors and Early Supporters: 5% at TGE, 4-month cliff, 18-month vesting.
• Initial Decentralized Token Offering: 3-month vesting period.
• Core Team and Future Employees: 1-year cliff, 2-year vesting.
• Advisors: 6-month cliff, 1.5-year vesting.
• Community: Vested over 4 years.

Governance

Governance is conducted through the PixelSwap Improvement Proposal (PIP) process, allowing $PIX token holders to participate in decision-making. Governance topics may include:

• Protocol Fee Structures: Determining fee parameters within the protocol.
• Protocol Treasury Fund Utilization: Deciding on the allocation of treasury resources.
• Community Token Usage: Managing liquidity incentives and other community-related allocations.
• Ecological Grant Distribution: Allocating funds to support ecosystem development initiatives.

Ecosystem Integration

Collaboration with LayerPixel

PixelSwap collaborates with LayerPixel to enhance decentralized finance (DeFi) interactions for Telegram Mini App developers. LayerPixel provides an all-in-one DeFi solution built specifically for the TON network, integrated with Telegram Mini Apps. This integration allows developers to configure various user wallets and simplifies user interaction with TON Wallet and other LayerPixel components.

Provision of SDKs, APIs, and Tools

To support the gaming and DeFi sectors, PixelSwap offers software development kits (SDKs) and application programming interfaces (APIs). These tools simplify the integration of DeFi features into applications, enabling developers to incorporate functionalities such as secure wallets, decentralized exchanges, and oracle services. This approach allows developers to utilize the TON blockchain and expand decentralized applications.

PixelSwap

PixelSwap is a modular and upgradeable decentralized exchange (DEX) on the TON blockchain. It supports different trading models, including weighted pools and Liquidity Bootstrapping Pools (LBP). The platform’s modular design enables the integration of multiple trading strategies, copy trading, and lending through various engines. This flexibility allows developers to implement customized trading algorithms.

Pool Funding

Within the LayerPixel ecosystem, the Funding Layer focuses on virtual account abstraction, offering asset management and token approval mechanisms. This structure allows for efficient management of liquidity pools, enabling users to contribute assets and engage in DeFi activities. The modular architecture ensures that each component operates independently, improving scalability and flexibility within the ecosystem.

Wallet

PixelWallet is a smart contract wallet with account abstraction, allowing users to interact with decentralized applications (dApps) and manage digital assets. The wallet’s interface simplifies blockchain management, making it accessible to novice and experienced users. Features include virtual asset management, asset approval, gasless transactions, atomic swaps, and support for multiple login methods.

$PIX Arena

The $PIX Arena is an initiative by PixelSwap designed to distribute over 10,000,000 $PIX tokens through a series of airdrop events. Participants engage with the PixelSwap platform by interacting with tokens, holding points, and contributing to liquidity pools to accumulate airdrop points. These points determine the allocation of $PIX tokens to users.

The Airdrop Arena comprises multiple sub-events, each offering participants opportunities to earn $PIX tokens. The event has concluded, with millions of users participating across various activities. To check individual $PIX allocations from the Airdrop Arena, users can connect their wallets to the PixelSwap platform and use the allocation query feature.

PIX Security Measures

Security Audit

PixelSwap has partnered with leading security audit firms to assess its platform comprehensively. These audits involve in-depth code reviews, vulnerability testing, and thorough analysis of smart contracts and underlying infrastructure. The audit reports are published to provide transparency to the community.

Bug Bounty Program

After completing the security audits, PixelSwap launched a bug bounty program to incentivize security researchers and white-hat hackers to identify and report potential vulnerabilities or bugs within the system. Participants in the program are eligible for rewards based on the severity and impact of the reported issues, further strengthening the platform’s security.

Open Source Code Review

In line with its commitment to transparency and security, PixelSwap has opened its source code for peer review. This allows the broader developer community to inspect the code, identify potential issues, and contribute to the ongoing improvement of the platform.

Ongoing Security Monitoring and Improvements

Security is an ongoing priority for PixelSwap. Even after the initial audits and bug bounty program, the team continues to monitor the system for any new threats or vulnerabilities. Regular security assessments and updates are integral to the development roadmap, ensuring the long-term safety and reliability of the platform.

Conclusion

PixelSwap is a decentralized exchange built on The Open Network (TON) blockchain, offering a modular and upgradeable trading infrastructure. It integrates various trading models, liquidity management solutions, and governance mechanisms through the $PIX token. The platform enhances DeFi accessibility by providing SDKs, APIs, and wallet solutions, enabling developers to build financial applications and services within the ecosystem. Security remains a priority, with smart contract audits, a bug bounty program, and ongoing monitoring to mitigate risks. By combining decentralized governance, liquidity incentives, and developer-friendly tools, PixelSwap aims to support the expansion of DeFi applications within the TON ecosystem.