About PunkNetwork Project.
PunkNetwork - A high-performance NFT-friendly mainnet developed based on Substrate architecture for decentralized apps and assets.
#punknetwork #bsc #token #crypto $RBT #GameFi #OEC
Introduction Punk.Network
Punk.Network is a high-performance NFT-friendly mainnet developed based on Substrate architecture with NPoS (Nominated Proof-of-Stake) as consensus mechanism;
NFTCastle.io， an NFT trading and financial platform developed on Punk.Network, integrates diversified financial services, such as NFT-type asset mortgage loans, StNFT (standardized NFT) and SynNFT (mortgage casting NFT) issuance and transactions;
Punk.Network also reached a strategic cooperation with CMGE Tech Group Ltd.,(00302.HK), and obtained the exclusive authorization of its flagship game "Red and Blue" as a leading product to expand the NFT game market;
Punk.Network’s native token, PUNK, it can not only to be set as the currency token for the main net，but also the equity currency of NFTCastle.io. PUNK follows Polkadot's issuance logic to maintain the decentralization of the network.
The founding team members of Punk.Network have experience in blockchain technology development, investment incubation, game publishing and promotion, art collection, auction and curation, project operation management, etc. The team is well-configured and has sufficient experience and successful cases in their respective fields.
Nowadays, as NFT has become a hot concept in the blockchain area, in the face of a market environment where opportunities and risks coexist, Punk.Network is committed to building a long-lasting NFT value network.
Present Status
NFT-type assets will likely become the closest type of decentralized assets to the public in the history of the blockchain industry. As a result, they are widely considered to have unlimited potential.
This is because such assets are easier to understand and accept by the market than disruptive standardized tokens (especially circulating tokens). In essence, it is the technological upgrade of alternative assets (such as artworks and collection cards) defined by traditional finance, and new forms and vitality are released based on the innovation of the underlying technology.
For example, NBATOPSHOT is NBA trading card that issued in blockchain, and NBA trading card is a type of asset that is well-known in North America and has global influence; Encrypted art is not only the on-chain issuance of artworks, but also becomes an emerging art genre because of its special characteristics.
There is no doubt that the current NFT market is popular, however, it is still a capital-driven market currently. A large amount of hot money has poured into the NFT-type assets, the recent leading concept in the crypto world, making NFT a phenomenon-level investment hotspot.
It is also undeniable that the NFT industry is still in the infancy-stage. Regardless of the number of asset types, public awareness, types of business and related supporting facilities, various indicators need to be improved urgently.
We believe that the development of NFT assets still require more sustainable foundation, and we are looking forward to a NFT network ecology which has a long-term investment and application value, and it is capable of crossing bull market and bear market. Punk.Network was born for this purpose.
Punk.Network hopes to achieve the following goals:
A better experience, such as faster transaction speed, lower transaction fees, and a more friendly asset generation and transaction process.
Enhance public awareness and acceptance of NFT-type assets.
Create a deeper connection with the traditional alternative assets (such as art and collective trading cards) industry and expand more possibilities.
Expand more financial services of NFT-type assets.
Next, this article will introduce Punk.Network from multiple dimensions, including mainnet technology, DApp ecosystem construction, development team and partners, token logic, etc.
Punk.Network mainnet Technology
In order to be compatible with Polkadot, the development team used the Substrate framework to develop Punk.Network, which will become a deeply customized chain for various NFT assets. Its features include supporting high concurrency, customized asset standards and a Prosperous trading ecology.
Based on Ethereum, NFT transactions, circulation, new standard proposal governance, and various business executions have absolute performance and cost limitations due to insufficient scalability. However, different Layer 2 solutions are not yet mature. The state channel of the cross-chain solution is difficult to solve the limitations of its framework in the short term, and the efficiency of proposal governance and execution is relatively low.
Punk.Network adopts Rust and builds the chain based on the Substrate framework. The isomorphism will benefit the assets of Punk.Network.
In the future, Punk.Network will achieve cross-chain level FT&NFT asset transfer through the Polkadot relay chain, starting from the Layer0 multi-chain network to achieve efficient governance, Rust can elegantly solve the problems of Punk.Network's high concurrency and high security system, and it can be operated with high efficiency in a multi-node and large-scale environment. The governance efficiency of the NFT protocol layer, application layer, and ecological-related proposals will be significantly higher than the Ethereum environment by several orders of magnitude.
Punk.Network uses the Rust macros in the underlying framework of Substrate during the construction process to make the code running more concise. In Rust, a macro is "a series of instructions that will be executed at compile time". The macro will be expanded into a more complex Rust code in the compiler and then implemented as Wasm. The further use of Procedure Marco will achieve more powerful command functions than ordinary macros.
Punk.Network will also use the NPoS consensus mechanism as the incentive model, which is an efficient and low-cost consensus mechanism with more reasonable benefit distribution - the incentive will be granted to all building participants instead of a small number of nodes.
The initial number of validator nodes in Punk.Network is 11, taking into account the degree of decentralization and performance, and will gradually increase with the community governance.
Punk.Network Token Format
· PRC-20
the rules include 6 operation and 2 event functions.
PRC-20 is the format of fungible token, and all token units have the same value and can be divided.
· PRC-721
PRC-721 is a standard interface for Non-Fungible Token (NFT), which contains 11 operation and 2 event functions.
Each Token is different and has its own uniqueness and unique value, this also means that they are indivisible and traceable.
· PRC-1255（St NFT）
PRC-1255 proposes to enable NFT assets to be issued as standardized assets in StNFT (standardized NFT) format based on the underlying technology. When an NFT asset is created, you can choose to split it into a specific number of StNFTs.
NFTCastle.io NFT MarketPlace
NFTCastle.io marketplace will take both BtoC and CtoC forms to sell or broker transactions for collectors. NFTCastle exchange will be divided into 3 main areas: the NFT bidding area, the collector trading area, and the mystery box game area.
⭐️ the NFT bidding area：The NFT auction area is a trading platform for NFT-type digital assets, and the NFTCastle marketplace's NFT auction area will select high quality NFT-type digital assets with high collection and investment value. In addition to the ordinary auction model, NFTCastle.io will uses a unique German auction system, which will become the highlight.
⭐️ the collector trading area：NFT Trading Area is for an online repository of NFT treasures. Whether you are a novice collector or a seasoned collector, you can trade CtoC here. Similar to the EBAY platform, everyone can buy and sell NFT-type assets in the free market. In the future, NFTCastle.io will also inject liquidity into the collectors' trading area, enabling NFT collections to continue to show their value.
⭐️ the mystery box game area：an NFT version of Pop Mart. There will be various designs of the NFT-type series products, as well as a surprising number of hidden models. After opening the hidden models, the assets can be traded on NFT Trading area.
NFTCastle.io CyberSpace
CyberSpace is an on-chain museum that will take on the two main functions including NFT artwork display and collector exchange.In CyberSpace, we will continue to display NFT works by emerging artists and new works by artists contracted with NFTCastle.io, making it the largest online gallery and museum in the online world.
CyberSpace also has the function of crypto community. In here collectors can share their experiences and exchange resources of quality NFT collections, creating a social world dedicated to Punk.Networker.
CyberPledge An NFT pledge platform
NFTCastle.io is committed to vigorously develop NFT-type asset finance and derivatives, and maximize its financial potential.
Art pledges are very sophisticated financial instruments in the real world.
Because NFT cannot be split and their circulation properties are relatively low, mortgage loan has become a real demand.
Artwork can be pledged and matched with intended borrowers to complete the pledge loan process. Pricing will be determined jointly by the lender and the borrower.
Through the CyberPledge module in NFTCastle, the borrower and the lender can agree on the loan amount, interest rate and repayment mode, and will be confirmed as the form of smart contract. The NFT asset will be pledged at the beginning of the contract.
The state of the contract includes "in contract", that is, when the contract includes a continuation and non-default state, the NFT asset remains pledged at this time; "default", that is, cannot be repaid on time, at this time the ownership of the NFT asset will belong to the lender; "completed", That is, all payments have been completed on time, and the ownership of the NFT asset belongs to the borrower at this time. Once repaid, the smart contract will update the current status and determine the ownership of the NFT asset.
Outside of this basic framework, borrowing functions such as early repayment, default consensus and fines will be gradually developed and improved in the future.
CyberSpecial A Specialized NFT issuance Platform
Standardized NFT
In terms of the underlying technology, Punk.Network has been customized so that NFT assets can be issued as assets in StNFT (Standardized NFT) format.When an NFT asset is created, you can choose to split it into a specific number of SNFTs. NFT can only have one owner, while SNFT can be distributed to multiple owners. Anyone can create SNFT assets and transfer assets.Holding an SNFT represents the ownership percentage of a specific NFT target, lowering the investment threshold, and also a new structure for traditional art assets in the era of encrypted assets.In NFTCastle.io, StNFT can be one-stop issued.
Synthetic NFT
A new NFT can be synthesized by the underlying asset PUNK through smart contract. The holder of this NFT can choose to swap back the pledged PUNK.This type of NFT asset enables its holders to have the lowest value guarantee --- when its market fair value (such as utility value) is lower than the pledged PUNK, the holder can choose to swap it back.
At the same time, the value of this NFT is deeply tied to PUNK. When the price of PUNK rises, the endogenous value of NFT also rises.This type of NFT can be widely used in games or IP-derived assets with a variable number.In the future, with the realization of cross-chain, assets such as BTC/ETH/DOT can be used to synthesis NFT on Punk.Network.
Punk.Network Road map
2020
Q3
Punk.Network is officially approved.
A strategic cooperation with Brilliant Games is reached.
The architecture design of Punk.Network is completed
2021
Q1
NFTCastle.io is officially approved.
Reached cooperation agreements with a number of artists.
Q2
Start private financing.
Deploy the Punk.Network test network
Completed Punk.Network token standard design
Complete the Punk.Network mainnet launch
Release NFTCastle.io Alpha version
Release NFTCastle.io Beta version
Start the development of GamePunkDEX based on Rust and apply for Web3.0 Grant
Organize Coserpunk events and Cyber Spring up NFT art exhibition
Q3
Release of NFTCastle official version
Completed GamePunkDEX V1 based on Rust
Building copyright confirmation and empowerment applications for artworks and game assets
Complete the DAO governance module, such as: authority classification, voting system, upper limit and lower limit of points
Q4
Expand Punk.Network mainnet performance, participate in Polkadot slot auction
Improve the function of NFTCastle.io and officially launch the CyberPledge
Launch ‘Project Massive Attack’ and seek cooperation with more high-quality NFT assets
GamePunkDEX V2 based on Rust format
2022
Start the global competition of DApp developer for NFT
Publish Punk.Network V2
Release NFTCastle.io V2 and GamePunkDEX V3
Contact Information
Website : https://www.punk.network/
Whitepaper : https://abc7a26e-0156-47a8-96cd-c27763efc4c0.filesusr.com/ugd/c83dc5_dfd89af0040e45768db07dee08c1b6b2.pdf
Twitter : https://twitter.com/Punk_Network
Facebook : https://www.facebook.com/PunkNetworkofficial
Telegram : https://t.me/PunkNetwork
Instagram : https://www.instagram.com/nftcastleofficial/
Reddit : https://github.com/punknetwork
Author :
Bitcointalk Username: Bayu Gatra
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=3239937
BEP20(BSC) Wallet Address: 0x8b228B763800588ab92C17F3cCB4bCF4044Ad67d
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