Astar--based NFT Fragmentation

Hello everyone! This is the Kaco team. Maybe our project will be launched soon and we’d love to join dApp Staking and contribute more to the ecosystem with the NFT fragmentation feature!

Introduction :page_facing_up:

Key Point

NFT fragmentation refers to the splitting of the complete NFT into multiple small pieces.

Fragmentation lowers the barrier to purchase for NFT, allowing more people to participate.

NFT shard holders can also gain exclusive benefits such as voting rights by joining the exclusive NFT community.

In addition to this, fragmentation enhances market liquidity, improves valuation rationality, and promotes democratization.

What is NFT fragmentation?

NFT fragmentation refers to the splitting of a complete NFT into smaller pieces, thus allowing multiple individuals to gain partial ownership of the same NFT. the NFT is originally unique and irreproducible, and NFT fragmentation enables pioneering innovation through ownership splitting.

Project Overview :page_facing_up:

KACO allows users to receive BEP20 tokens representing NFT projects by depositing their NFT into a pool on the NFT100 dex. When you deposit your NFT (Kaco Finance’s NFT) into the corresponding NFT project pool (Kaco Finance pool) on our NFT100 DEX, the NFT100 factory will create a BEP20 token representation of that NFT project, providing 100 of these tokens for each NFT your deposit.

Kaco completed the cross-chain bridge between Shiden and BSC chains with the help of AnySwap, and launched digital assets such as Kaco and BUSD. AnySwap currently supports cross-chain routing of assets between Ethereum and Shiden.

Benefits include:

LP and Equity Mint BEP20 Tokens for Earnings Bonus

Better allocation and price discovery for NFT projects

Sell any NFT immediately by casting it as BEP20 and swapping it through KACO

Increase liquidity for NFT investors and speculators

Floor Price

Users can then centralize their minted BEP20 in AMMs such as KACO to create a market for other users to trade. As liquidity and volumes are established, the BEP20 tokens backed by NFT can help discover floor prices.

The floor price represents the lowest price for a particular NFT. Users establish a reserve price by minting and selling BEP20 tokens in markets that believe NFT is overvalued.

KACO is helping to establish a reliable floor feed for NFT, making it more widely used in decentralized finance on BSC.

For example, users have 10 Kaco Finance, 3 of which have high values. However, they believe that the value of the other 7 Kaco Finance is lower than the market price of the Kaco Finance pool on KACO. Users deposit these 7 forged BEP20 tokens (Kkaco) and sell their minted 700 BEP20 tokens (Kkaco) on KACO, thus reducing their price and helping price discovery.

The above process will continue until the floor price is reached.

Team :busts_in_silhouette:

CEO and Cofounder of Cryptogeek,the earliest Chinese blockchain tech community

Chief Investment Officer of Ricebank capital,avc founded by Alibaba cofounders

Early investor of Polkadot

Alibaba senior product operation

Senior Technical Expert of Alibaba
First-line architect of decentralized exchange
10-year program development experience

4-year blockchain product experience
Focusing on blockchain product development and innovation

Data scientist specializes in big data analysis, blockchain product design, on-chain data processing, and smart contract development
12 years of program development experience 10 years smart contract development at Ant Group

Head of investment business of Kaistart crowdfunding platform 5 years of Internet financial program operation and marketing experience

4-year experience in private equity
BS in Applied Mathematics from Columbia University

Advisor at Coinversation with 7 years of experience in blockchain technical structure and business implementation
Former product R&D at Reuters, former technical consultant of blockchain architecture for FCA regulatory sandbox in the UK, former chief technical advisor at Asia Digital Bank and former CTO at Dark Horse
Also worked at Microsoft, Alibaba and Amazon

Development Roadmap :nut_and_bolt:

Number Deliverable Specification
0a. License GNU General Public License v3.0
0b. Documentation a basic tutorial that explains our NFT fragmentation principle for users.
0c. Testing Guide Core functions will be fully covered by integration testing. In the guide, we will describe how to run these tests.
0d. Docker Our contracts will run on the parachain, so it’s no need to make a Dockerfile to test.
1. Liquidity Pool Contracts that allow users to adjust the pool’s binding tokens, join and exit the pool, calculate price, trading using user-specified param and collect trading fee.
2. NFT100 Pair Pool factory Contracts enable users to create liquidity pools, as well as features such as seeing if a pool already exists.
3. NFT100 Pair The NFT pair type is divided into ERC721 as well as ERC1155, and the logical execution of the two contracts is created.
4. Dutch Auction Contracts allow users to auction off NFT100 pairs they own.
5. Mint NFT100 Pair Burn NFT100 and redeem NFT.

Future Plans

Collaborate and communicate with more teams to enable more NFT projects to participate in NFT fragmentation.