SLN is finally going live, so what is SLN? Let's take you to learn more!
Smart Layer is a blockchain-based network of programmable services that facilitates the execution of token logic, enabling complex interactions with various systems and tokens. Designed for enterprises, digitizing physical assets and services through tokenization technology is designed to optimize customer experience, improve business efficiency, and ensure compliance for data sharing, while providing businesses and partners with more flexible business models and seamless digital connectivity.
Core technology and characteristics.
Smart Token Technology.
Definition: A smart token is a blockchain-based programmable entity that encapsulates business logic and is capable of complex interactions with various systems and other tokens.
Features: They are not just traditional blockchain tokens, but have independent, interoperable business logic that can interact with and execute in different environments**.
Tokenization. Definition: Tokenization is the conversion of goods, services, and digital rights into programmable tokens, enabling seamless integration, frictionless marketplaces, and user empowerment across digital environments.
Use example: When a ticket is tokenized, it's not just a flight pass, it's a smart token that carries a wide range of information and interactions, such as seats, flight dates and times, etc. It also streamlines travel-related processes such as visa applications, integration with social networks, and more.
Development route. So far:
2017 - Integrating the Web through Tokenization: Smart Token Labs was founded with the aim of providing an integrated web through tokenization, greatly improving business efficiency and user experience.
2018 - Advanced tokenization project: full-time development of Tokenscript and Alphawallet. The first mobile wallet to natively support NFTs. Tokenization of VIP tickets for the 2018 FIFA World Cup. ERC 875, Blockchain Certification, EIP 1386, EIP 1387, EIP 1388.
2019 - Tokenscript Delivers Smart Tokens: The TokenScript design document introduces Smart Tokens. Similar to ERC20 or ERC721 tokens, but with a scalable structure and signed j**ascript, it enables rich functionality and full composability that is difficult to achieve with DApps.
2019 - Advanced tokenization project: car ownership token in partnership with Karma Automotive; ENS Contribution; Qoin e-commerce; Euro2020 VIP Ticketing; Alipay 2020 Coupons; alieuro app；Entitlement Tokens (NFTs & FT).
2020 21 - Corporate and Investor Support: Continued development and implementation of smart token technologies and use cases. Including Mechanism Capital, Framework, Mark Cuban, Fenbushi, Hashkey Global, CryptoLeading Web3 investors, including com, support the tokenization vision.
2022 '23 - Technology Market Fit: Smart Token Technology Deployed as an Open Loyalty Enabler via DevCon6, DevConnect, EDCon, CatchMax, Perion Gaming, La Prairie Switzerland, Nifty Tailor. EIP5169 was adopted as the new Ethereum standard.
2023 - Smart Layer Network: Accelerate web integration based on smart tokens. Server-side deployment via Smart Layer makes integration easier for web service providers and reduces the work of smart token issuers. SLN tokens are used to bootstrap the network and incentivize participation. Token demand is primarily driven by mainstream Web2 use cases.
Road Ahead: 2024 - Open Loyalty Focus: The use cases for the Smart Layer Network will focus on open loyalty solutions for Smart Token Labs and large enterprise partners in key verticals: events, sports, memberships, and travel.
2025 - Web2 Smart Tokens: Large Web2 players will greatly improve business efficiency and customer experience by issuing smart tokens connected to third-party web services via the Smart Layer Network. Key verticals include: Travel, Automotive, Events, Loyalty.
SLN tokens** are capped at 100,000,000 tokens and will be distributed as follows:
And during the New Year's Day, Polygon posted on the X platform to introduce "Smart Cat Loot", which is the first asset-backed XNFT issued by Smart Layer on Polygon, which sold out within 4 hours of launch.
What is XNFT? Its full name is Executable NFT, which means that in addition to being an asset, it also has built-in run**, which has high utility and stronger scalability than traditional NFTs; Similarly, there is an executable token, which has the same characteristics.
Smart Cat Loot uses an innovative "Burn and Return" mechanism and a dynamic pricing strategy, where NFT holders can burn their NFTs at any time and recoup the minting costs. In addition, as the volume of transactions in the secondary market increases, so does the volume of the market.
The above are the asset-side features of Smart Cat Loot, which can also interact with Smart Cats issued by Smart Layer to earn points to unlock community rewards, and the interaction does not require users to access a new or additional dApp, only within the wallet to perform interactive operations.
The above Smart Cat Loot features are based on the Ethereum standard ERC-5169 and TokenScript. ERC-5169 allows tokens to be linked to external scripts, turning them into multi-functional assets. TokenScript is a programming interface for tokenization, abstracting token information, access methods and UI presentation, providing a higher-level interface, which greatly improves the circulation and integration capabilities of tokens, and allows developers to define the characteristics and operations of their tokens, such as transferability, which helps to achieve interoperability between tokens without the need to update DApps or smart contracts.
In short, Smart Layer's executable token NFT launched through ERC-5169 and TokenScript technology greatly improves the scalability of assets, not only improves the user experience, but also brings a new paradigm of asset development, distribution and application, aiming to bring innovation to the path of production and consumption for DeFi, brand loyalty and Web3 games.
The Executable Token NFT launched by Smart Layer brings a new asset paradigm and reshapes the whole cycle process of assets from production, distribution to operation, and the scalability it provides provides unlimited potential development space for assets through the combination of various new technologies, new scenarios and new processes.
In just 60 days after its launch, Smart Cats attracted more than 300,000 unique active wallets, making it one of the most popular games in the Polygon ecosystem. The open beta of the Smart Layer Launchpad, launched earlier this year, received more than 1,000 developer applications in just 10 days.
Through its unique technology and vision, Smart Layer has demonstrated the great potential of blockchain and tokenization in digital transformation, and belongs to the new application of the RWA track. As more businesses and organizations recognize the value of tokenization, Smart Layer is likely to play a key role in the future digital economy. Looking forward to its launch the day after tomorrow!