Smart Contract Design
InitVerse allows user-defined contracts and also offers contract templates for users to choose from. Based on integrated development environment(IDE) where users can write and debug contracts in real-time. Through the built-in unified engine, the contract instructions are interpreted and the required operations are executed accordingly. Besides, InitVerse Contract uses a modular architecture, dividing the contract execution process into two parts: pre-processing algorithms and core algorithms. The pre-processing algorithms handle data validation, while the core algorithms manage the actual execution and processing. Additionally, to ensure smooth operation, the INI contract provides auxiliary algorithms that work independently of the main process, offering extra support for the contract's execution.
Contract Marketplace
The contract marketplace offers the ability to purchase and use InitVerse’s contract algorithms. In the InitVerse contract marketplace, the system automatically recommends the latest contracts, and users can also filter contracts based on their categories. Contracts are divided into two types: free and paid. Free contracts can be used at no cost, requiring only configuration and publication to take effect, while paid contracts require the payment of INI token.
Selecting modular functional contracts from contract market place allow users to create smart contracts without needing to code. InitVerse offers a range of independent modules related to assets, tokens, NFTs, DeFi functionalities, and more. A single contract may offer various pluggable algorithms (e.g., blacklist and multi-address pre-mining for token issuance contracts; block-based and quantity-based decay for mining algorithms). Each algorithm can be priced and used separately; users can unlock the corresponding contract features by paying the associated price. In addition, our standard contracts are externally audited. They are free from vulnerabilities and backdoors, addressing the most critical security risks for projects.
Developers can also submit contracts to the marketplace. Developers can set a usage price for their contracts. Once a price is set, users must pay to use the contract. The platform deducts a portion as an operational and maintenance fee, with the remaining amount going entirely to the developer.
Core Algorithm Configuration
Once user chose contract template is selected, it can be further customized through parameter configuration. The fully functional smart contract and its code are then automatically generated. This modular and configuration approach, combined with standardized interfaces, facilitates diverse combinations and flexible development, maintenance, and upgrades of smart contracts.
Core algorithms are designed to meet the specific business needs of projects. In InitVerse, we offer a variety of simple configurations for different types of smart contracts, allowing users to customize the behavior and logic to suit their specific requirements. This rule configuration provides precise control over how each module operates and interacts with others, ensuring that the resulting smart contract functions exactly as intended.
Below are the most common algorithm configurations we provide, with more to come:
Airdrop: The airdrop scenario supports various token types (such as ERC20, ERC721, and ERC1155) and can be configured as either paid by end users who claim the airdrop or free. The airdrop process can incorporate pre-processing algorithms to set conditions like whitelists, single claim amounts, and the number of claims allowed, meeting diverse airdrop requirements.
Staking and Mining: Staking and mining are suited for scenarios where users stake tokens to receive rewards. Multiple mining models can be configured, such as proportional rewards based on the staked amount, weighted distribution of rewards based on the total network staked amount, and reward coefficients based on locked staking time. These settings offer flexible staking and mining solutions for project teams. Rewards are typically distributed in ERC20 tokens but can also support ERC721 and ERC1155 tokens.
Synthesis:The synthesis algorithm is commonly used in NFT scenarios, such as when users hold a set of NFTs and wish to combine them into a new NFT. The synthesis algorithm supports many-to-one (combining multiple NFTs into a new NFT), one-to-many (splitting one NFT into multiple sub-NFTs), and swap (exchanging one NFT for another).
Voting: The voting algorithm is used for project governance and supports various voting schemes, such as voting based on ERC20 governance tokens (1 token = 1 vote) or voting based on governance NFTs (1 NFT = 1 vote). These schemes are designed to better reflect the needs of the majority of users and flexibly accommodate the governance needs of different projects.
Integration with Ecosystem Products
Our smart contract features seamlessly integrate with our ecosystem products. For example, when developers use the Token Issuing module on InitVerse SaaS to create a new token, this token can be listed on our DEX, ObsSwap, upon deployment. We are dedicated to creating more ecosystem products in order to enhance the overall developer experience and ecosystem functionality. For more information on our ecosystem products, please refer to the ecosystem - tool and projects section.