TofuNFT-Astar is a blockchain project founded in 2021 with the aim of building a decentralized platform for creating and trading non-fungible tokens (NFTs). It was created by the company TofuNFT and takes its name from the Japanese word for bean curd and the Astar blockchain network it is built on. This platform offers users the ability to mint, buy, sell, and exchange unique digital assets securely on the blockchain.
TofuNFT-Astar offers several benefits compared to its direct competitors in the NFT market. One key advantage is its scalability. TofuNFT-Astar utilizes a layer-two solution, which allows for high throughput and low transaction fees. This means that users can mint, buy, and sell NFTs without worrying about congestion or expensive gas fees on the Ethereum network.
Another benefit of TofuNFT-Astar is its cross-chain interoperability. It supports multiple blockchains, including Ethereum, Binance Smart Chain, and more. This means that users have the flexibility to mint and trade NFTs on their preferred blockchain, providing greater accessibility and options.
Moreover, TofuNFT-Astar offers a seamless user experience. The platform is designed to be user-friendly, making it easy for both newcomers and experienced collectors to navigate and interact with NFTs. Its intuitive interface and smooth transaction process contribute to a positive user experience.
Additionally, TofuNFT-Astar emphasizes community and social engagement. The platform provides various features for users to interact and collaborate, such as community voting, virtual galleries, and social media integrations. These features foster a vibrant and active community around NFTs, creating a sense of belonging and shared interest.
In summary, TofuNFT-Astar stands out in the NFT market due to its scalability, cross-chain interoperability, user-friendly interface, and community engagement features. These qualities contribute to a better user experience and offer unique advantages compared to its direct competitors in the space.
TofuNFT-Astar is a blockchain-based platform that leverages the underlying technology of non-fungible tokens (NFTs) to provide a unique and decentralized solution. The platform operates on the Ethereum blockchain, which is known for its smart contract functionality and secure transaction handling.
At its core, TofuNFT-Astar utilizes smart contracts to implement a range of features. Smart contracts are self-executing agreements that have the terms of the agreement directly written into code. These contracts ensure transparency, security, and immutability within the TofuNFT-Astar ecosystem.
Functionally, TofuNFT-Astar allows users to create, buy, sell, and trade NFTs. NFTs are digital assets that represent ownership or proof of authenticity of a particular item or piece of content, such as artwork, music, or collectibles. The platform provides a marketplace where users can discover and engage with various NFTs.
When it comes to the specific working of TofuNFT-Astar, the platform employs a system of minting, listing, and transacting NFTs. Minting refers to the process of creating new NFTs, whereas listing enables users to make their NFTs available for purchase or trade. Transactions occur on-chain, meaning they are recorded and verified on the Ethereum blockchain.
Overall, TofuNFT-Astar combines the power of NFTs and the Ethereum blockchain to enable a secure, transparent, and decentralized platform for the creation, trading, and ownership of digital assets. It offers an innovative way for creators, collectors, and investors to interact and participate in the growing world of NFTs.
DIA follows a comprehensive approach when it comes to fetching trade data from DeFi and NFT exchanges. The process varies depending on the type of exchange in question.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers to directly collect trades from the exchange databases. This is done using Rest APIs or WebSocket APIs. The frequency of data collection varies, ranging from 1 to 7 seconds, depending on the exchange. By retrieving data as close to the source as possible, DIA ensures high precision and accuracy.
On the other hand, for decentralized exchanges, DIA retrieves data directly from the blockchain itself. It does this by subscribing to swap events in liquidity pools. Examples of decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap. This approach enhances data accuracy, as it eliminates any reliance on unreliable bids and offer data.
When it comes to NFT marketplaces, DIA captures live trading data by integrating with the marketplaces' smart contracts. The retrieval period for NFT data ranges from 20 seconds to 1 minute, ensuring real-time coverage of all NFT transactions. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
By leveraging a network of WebSockets, decentralized node providers, and direct integration with smart contracts, DIA is able to ensure comprehensive data coverage and deliver highly accurate and customizable price feeds for both DeFi and NFT exchanges.
When building price feed oracles with TofuNFT-Astar trade data, DIA follows different processes depending on the type of exchange being referred to, whether it's a decentralized finance (DeFi) or a non-fungible token (NFT) exchange.
For DeFi exchanges, DIA starts by cleaning and detecting outliers in the trade data. This step is crucial to ensure that the price estimation is not influenced by irregular trades that deviate significantly from the market price. One way DIA achieves this is by applying an Interquartile Range (IR) filter, which excludes data points and sets that lie outside an acceptable range. Only trades falling into the middle quartiles, after the filter, are used for further processing.
To determine the final price from the remaining data points, DIA employs trade-based price determination methodologies. One example is the Volume Weighted Average Price (VWAP), which takes into account the volume of trades in the calculation. Another methodology is the Moving Average with Interquartile Range Filter (MAIR), where trades are ordered by timestamp and grouped into blocks. The weighted average price of each block is then taken to arrive at the final price.
For NFT exchanges, the process is different. DIA first applies cleansing filters to exclude outliers and manipulation techniques from the on-chain trade data. Then, a pricing methodology is employed to determine the final price point. The simplest methodology is the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain within a given time window. However, this method is susceptible to manipulation. To address this, DIA offers advanced methodologies such as the Moving Average of Floor Price, which adjusts to specific use cases by customizing parameters like the length of the average.
By implementing these processes and methodologies, DIA aims to provide accurate and reliable price oracles for both DeFi and NFT exchanges, ensuring that the data used for smart contracts is representative of the market and resistant to manipulation.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.