Calypso: A Proposal for Optimizing Non-Fungible Tokens on SKALE V2

Over the last few months, the MyLilius team has made an effort to make connections with a variety of projects preparing to launch on the SKALE Network. We wish to support these projects through our cross-chain infrastructure. Currently we are preparing to launch a decentralized digital identity and a Web3 wallet designed to integrate directly with applications on the SKALE Network.

In addition to developing MyLilius, we have been working with the team at SKALE Labs to help improve the technology available to the SKALE Network as a whole. Specifically, the MyLilius team has focused directly on the usage and allocation of S-Fuel as well as the on-chain file storage module.

Due to the strength of partnership not only with SKALE, but with other dApps coming to SKALE network; a general consensus was made that MyLilius would be an ideal fit to lead the community controlled NFT hub.

The Calypso proposal aims to establish a shared origin for Non-Fungible Tokens that will then enable the movement of tokens throughout the SKALEVERSE. Additionally, the Calypso proposal seeks to enable a naturally strong user experience by aggregating NFT markets and projects onto one shared SKALE chain.

The Movement of NFTs

The ability to have an unlimited number of SKALE chains available with different dApps, assets, and connections brings an incredible level of value to Web3. However, the issues potential issues that arise need to be discussed and supported by the community. Similar to the liquidity fragmentation and token mapping solutions that have been proposed with Europa; Calypso represents a community driven effort to solve the issue of the multi-chain architecture specifically for Non-Fungible Tokens.

Enabling the minting of NFTs directly on-chain; Calypso represents an effort to guarantee the ability for NFT projects and dApps to move their NFTs throughout the SKALEVERSE. Ultimately providing end users the ability to utilize their NFTs in a truly decentralized manner.

With Calypso being the concentrated home for NFTs, all chains in the SKALEVERSE will have the ability to connect to the hub and gain access to all the NFTs that call Calypso home.

A Structured Origin

Where an NFT is created matters no matter what blockchain is being discussed. With SKALE, this becomes even more important when it comes to the utilization of an NFT throughout the entire ecosystem.

When an asset is created on a blockchain, in this case, a SKALE chain, that chain is the origin for the token. We will call the origin home base.

A token now has the ability to move to any chain that enables the token to be transferred in, however, once a token arrives at its destination; the only place it can go is back home.

Creating the tokens directly on Calypso will reduce the complexity when mapping tokens to other applications as the developers will benefit from the automatic mapping for NFTs to and from Calypso.

A Structured Origin: Ethereum

Similar to how Europa enables liquidity to move to and from Ethereum; Calypso will offer the same structure enabling NFTs to move freely to and from Ethereum.

Any SKALE chain can establish a bridge to and from Ethereum. For example, a game may want to mint their NFTs on their own SKALE chain and allow them to be sent to Calypso so they can be traded on the marketplace; or to Ethereum so they can be used in a manner there. However, the chain owner will now need to set up their own token mappings and manage the IMA Bridge. Once the token is on Ethereum it would then need to be bridged back into the game before it can be sent to Calypso for trade.

The Future is Decentralized

The goal of the Calypso NFT hub is to support the growth of SKALE and solve the issues that arise indirectly from the network. In doing so, the MyLilius team understands that the Calypso hub needs to be directed by the community.

We are looking forward to proposing a solution where the community plays a vital role in the socioeconomic growth of the hub. We currently believe this solution will take the form of a DAO (Decentralized Autonomous Organization).

Ultimately, a DAO based shared governance model will enable the hub to be supportive of creators wishing to build on SKALE as well as any community goals that are brought forward. Additionally, this shared governance model allows the community as a whole to stay agile in regard to the underlying chains while still providing a voice to the individuals that support the chain.

Over the next few weeks, the initial key holders will finalize and publicize the specific governance guidelines.

The Role of MyLilius

MyLilius will play multiple roles within Calypso and the SKALE ecosystem as a whole:

Proposals

As one of the projects leading the creation of Calypso, MyLilius will help refine this initial proposal in collaboration with other projects and the community with a goal of defining what can be a truly decentralized NFT hub.

Development

MyLilius will help develop the smart contracts needed to run the chain and provide guidance to others contributing to the development.

Adoption

MyLilius will act as a representative of the Calypso SKALE Chain; in order to encourage the utilization of Calypso and SKALE Network as a whole by NFT projects.

Key Holder

MyLilius will be one of the first initial key holders for the Calypso SKALE Chain.

Community Member

MyLilius intends to be active within the community and be an advocate for governance decisions on both the Calypso chain and the wider SKALE network.

Author: TheGreatAxios

Date: 05/19/2022

Article #: 2

Article: Calypso: A Proposal for Optimizing Non-Fungible Tokens on SKALE V2

Collection: Calypso NFT Hub