PiSwap team addresses a Price-Building-Mechanism for asymmetric NFT-markets. What does this mean for ONTOCHAIN software ecosystem? - you may ask. Their protocol can be used for fair and transparent pricing of different kinds of assets, in the ONTOCHAIN space.
Find out more about this project in this interview with team member Daniel Gretzke.
How did you hear about ONTOCHAIN and what drove you to apply?
I received an email about ONTOCHAIN and I applied because I strongly believe in knowledge sharing and transparent, open source code.
Tell us a bit about the story behind your team. What drives you and what brought you together?
Andreas (Co-Founder) and I met during a hackathon, he comes from traditional finance and I come from the crypto space. For years now we were helping each other understand concepts from our respective fields of expertise and eventually became good friends along the way. The project started off as a thought experiment and actually developed into a real protocol.
Can you briefly explain your project and its contribution to the ONTOCHAIN software ecosystem?
PiSwap allows for open price building for the value of NFTs and helps solve the transparency and illiquidity problem these assets are currently facing. In the ONTOCHAIN space the protocol can be used for fair and transparent pricing of different kinds of assets.
How did you come up with this idea? What’s unique about it? And what will be the end user benefits?
The idea started off as a challenge to create a real decentralized exchange for NFTs. This developed into a protocol that is able to automatically buy and sell NFTs so users don’t need to look for any buyers or sellers when trading. On top of that the NFT itself can be traded without having to tokenize it into an ERC20 first. Additionally, the price finding mechanism for the NFTs uses the wisdom of the crowd, so users can get involved in NFT ecosystems that were not accessible to them before (e.g., the NFTs were too expensive or illiquid).
You are contributing to ONTOCHAIN’s mission of delivering a new software ecosystem for trusted, traceable & transparent ontological knowledge. How is ONTOCHAIN contributing to your own ambitions?
ONTOCHAIN has been a great way to connect with likeminded people and build partnerships with other participating teams.
How do you assess the experience of working with other teams in the co-creation of the ONTOCHAIN ecosystem? What type of synergies do you want to explore?
So far, all teams we met were very passionate about their projects and very eager to collaborate on different kinds of topics. Even with projects that have no overlap with our protocol it was always fun to exchange ideas and challenge each other.
What are your expectations regarding the new software ecosystem that ONTOCHAIN will deliver and its contribution to the NGI priority areas?
All teams in the ONTOCHAIN ecosystem align very well with the NGI priority areas and are passionate about decentralization, transparency and collaboration.