Dual-engine Implementation of HashKey HSP Stablecoin Payment and NexaToken RWA Tokenization Platform on Conflux Network
Proposal Submitter: HashKey Group (Listed on HKEX: 03887.HK)
Target Ecosystem: Conflux eSpace
Total Grant Applied: 70,000 USD
Key Links:
- HashKey Group Official Website: https://group.hashkey.com/
- HSP Merchant Backend: https://merchant.hashkey.com/zh-TW/dashboard/login
- NexaToken Platform: https://nexatoken.hashkey.cloud/zh
1. Proposal Overview
1.1 Project Introduction
This project aims to deploy a dual-engine infrastructure consisting of the HSP compliant stablecoin payment system and the NexaToken institutional-grade RWA tokenization platform on the Conflux network. It complements Conflux’s long-standing missing underlying capabilities of institutional-level payment settlement and real-world asset onboarding. The project builds a full commercial closed loop covering fiat on/off-ramp, merchant acquiring, cross-border settlement, RWA issuance, compliance risk control, and asset redemption, supporting large-scale growth of trading volume, TVL and institutional user scale within the Conflux ecosystem.
All product modules adopted in this project are mature production-grade systems already launched by HashKey Group. This proposal only covers native adaptation, smart contract deployment, ecosystem integration and scenario implementation for Conflux eSpace, featuring low delivery risks, clear commercialization paths and fast ecosystem value output.
1.2 Ecosystem Pain Points & Solutions
1.2.1 Existing Ecosystem Pain Points
First, the Conflux ecosystem lacks institutional-grade payment infrastructure to support large-scale adoption of merchant acquiring, cross-border settlement and high-frequency on-chain transactions. Current on-chain payment solutions lack regulated fiat access channels and standardized KYT/AML risk control systems, making it difficult to onboard traditional merchants and corporate entities.
Second, there is no end-to-end RWA tokenization platform on Conflux. Real-world assets including bonds, funds, precious metals, supply chain assets, intellectual property and data assets face high onboarding costs, complicated procedures and insufficient compliant lifecycle management tools, resulting in extremely low efficiency for institutional asset tokenization.
Third, developers encounter high costs for ecosystem construction. Without mature reusable modular components for payment and tokenization, building Web3 projects from scratch requires long development cycles and high technical barriers, restricting ecosystem innovation and implementation.
Fourth, the ecosystem suffers from a shortage of high-quality native on-chain assets, leading to sluggish growth of real trading volume and TVL. The absence of licensed compliant custody, asset issuance, risk control and fiat on/off-ramp closed loops hinders large-scale institutional cooperation and commercial adoption.
1.2.2 Core Solutions
The project launches two core systems simultaneously to build a dual-engine ecosystem infrastructure of payment + RWA tokenization, fully addressing the above pain points:
1. HSP Stablecoin Payment System: Provides second-level on-chain settlement, native on-chain risk control, compliant fiat on/off-ramp access and multi-scenario merchant payment modules. Equipped with open SDK/API interfaces, it supports full-scenario implementation including merchant acquiring, cross-border settlement, high-frequency micro-payments and DApp clearing.
2. NexaToken RWA Tokenization Platform: Supports full lifecycle compliant management including on-chain registration, issuance, minting, burning, subscription and redemption for physical RWA assets, Real Content Assets (RCA) and Real Data Assets (RDA). It integrates built-in on-chain compliant whitelist and oracle services to meet institutional-grade asset issuance requirements.
The coordinated operation of the two systems forms a complete ecosystem closed loop of compliant fund settlement and real-world asset circulation, filling the gaps in Conflux’s institutional financial infrastructure.
1.3 Strategic Alignment with Conflux Network
High-Performance Scenario Adaptation: Conflux’s high TPS, low gas fees and native EVM compatibility perfectly support HSP’s high-frequency payment settlement, cross-border transactions and large-scale merchant onboarding, delivering low-latency and cost-effective commercial on-chain payment experiences.
Optimized for Institutional RWA Business: Conflux’s ultra-low transaction costs, high throughput and transaction finality are highly suitable for institutional RWA scenarios such as bond issuance, fund tokenization and supply chain finance. It significantly reduces the comprehensive costs of asset tokenization, circulation and redemption, improving the feasibility of large-value and high-frequency RWA business deployment.
Consistent Compliance Strategy: Both Conflux and this project adopt a compliance-driven development framework that aligns with global regulatory standards, meets the access requirements of financial institutions and corporate clients, and builds credible institutional endorsement for the Conflux ecosystem.
Ecosystem Empowerment & Benchmark Demonstration: The solution greatly lowers the technical and institutional entry barriers for developers and partners. The replicable and scalable “payment + RWA” integrated model helps Conflux build differentiated competitive advantages in compliant payment and real asset tokenization tracks, forming benchmark cases for ecosystem scaling.
1.4 Core Ecosystem Benefits
Attract Global Developers & Institutional Partners: By opening production-ready payment SDK and tokenization modular services, the project reduces DApp, DeFi and RWA project development costs by over 80%. Leveraging HashKey’s global brand influence, full compliance qualifications and institutional network resources, it continuously brings high-quality institutional partners, developer traffic and industry exposure to Conflux.
Enhance Ecosystem Brand Influence: As a globally recognized compliant digital asset financial group with mature institutional client resources and industry reputation, HashKey will continuously improve Conflux’s visibility and influence in compliant payment and RWA tracks through official channels, industry summits and media partnerships after project launch.
Drive Positive On-Chain Data Growth: HSP will generate massive real commercial payment transactions to boost ecosystem gas consumption, transaction volume and active wallet addresses. NexaToken will introduce diversified underlying assets including funds, bonds, precious metals and supply chain assets, driving substantial growth of Conflux’s TVL and overall on-chain asset scale.
1.5 Core Project Competitive Advantages
Dual-Core Infrastructure Integration: A single grant enables simultaneous deployment of payment infrastructure and RWA tokenization capabilities, delivering far higher ecosystem empowerment efficiency than single-track projects.
Global Licensed Compliance System: HashKey holds financial compliance licenses in Hong Kong, Singapore, Japan, the EU, the UAE and other regions, ensuring leading business compliance and institutional recognition.
Proven Commercial Implementation Experience: HashKey has served top-tier institutions including Bosera Fund, GF Securities, Shandong Hi-Speed Group and Shengye Holdings, with verifiable real-world cases and mature service systems.
Low-Risk & Fast Deployment: The project adopts adaptation and migration of existing production-grade products, featuring low implementation risks, short delivery cycles and fast output of verifiable ecosystem results and data growth.
2. Technical Specifications & Solutions
2.1 Project Objectives & R&D Motivation
2.1.1 Project Objectives
To build a dual-layer underlying infrastructure of payment services and RWA tokenization for the Conflux ecosystem, bridging the full business chain of commercial payment, asset tokenization, clearing and settlement, and compliant fiat on/off-ramp access, enabling institutional-grade commercial adoption and standardized real-world asset onboarding.
2.1.2 R&D Motivation
The project specifically solves four core pain points of the Conflux ecosystem: imperfect payment infrastructure, high barriers for real-world asset tokenization, incomplete compliance systems, and difficulties in institutional business access, breaking core barriers restricting ecosystem commercialization and institutional adoption.
2.2 Feasibility Comparison with Alternative Solutions
Traditional Payment Systems: Slow settlement speed, high service costs, incompatibility with blockchain interaction logic and inability to adapt to Web3 ecosystem scenarios.
General Crypto Payment Tools: Lack of standardized risk control mechanisms and regulated fiat on/off-ramp channels, unable to serve traditional enterprises and financial institutions.
General Tokenization Tools: Incomplete compliance frameworks, limited asset issuance capabilities and no mature institutional distribution channels, unable to support large-scale commercial implementation.
Our Solution: Integrates full-dimensional compliance qualifications, mature production technologies, top-tier institutional channels and verified real-world cases, ensuring 100% stable deployment and commercial operation on Conflux.
2.3 System Positioning & Coverage
System Mission: Equip Conflux with institutional-grade payment and RWA tokenization infrastructure to realize large-scale commercial application adoption and standardized real-world asset tokenization.
HSP Payment Module: Native Conflux network adaptation, stablecoin settlement system, KYT/AML risk control system, open developer SDK and merchant operation backend.
NexaToken Tokenization Module: Asset issuance, minting & burning, subscription & redemption, oracle integration, compliant whitelist management, fully supporting RWA/RCA/RDA multi-type asset onboarding.
2.4 Core Technical Solution
2.4.1 System Functional Overview
HSP Payment System: Second-level transaction settlement, intelligent on-chain risk control, multi-mode settlement logic, compliant fiat on/off-ramp services, merchant SDK integration, order management and automated reconciliation system.
NexaToken Tokenization System: One-stop asset issuance framework, customizable smart contract templates, full lifecycle asset management (minting/burning/redemption), permission control, on-chain data oracle and compliant whitelist system.
2.4.2 Core System Composition
- Blockchain Layer: Conflux Mainnet & eSpace compatible environment
- Supported Assets: USDT, USDC, CFX and diversified real-world RWA assets
- Compliance Mechanism: Full-process KYC/AML/KYT verification, licensed asset custody and traceable audit framework
- Business Channels: Fiat OTC services, exchange distribution networks and global institutional cooperation channels
2.4.3 Compliance & Licensing Framework
HashKey holds valid licenses for digital asset operation, payment services, asset custody, asset management and securities businesses in Hong Kong, Singapore, Japan, the EU, the UAE, Bermuda and other regions. All businesses operate under a standardized global compliance framework to ensure long-term compliant project operation.
2.4.4 Non-Functional Performance Metrics
- Availability: Out-of-box deployment, comprehensive documentation and fast developer integration
- Reliability: 99.9%+ service availability, multi-node redundancy and automatic fault recovery
- Performance: Support for high-concurrency transaction processing and low-latency response, adapting to large-scale merchant access and asset issuance scenarios
- Compatibility: Fully compatible with Conflux EVM and multi-terminal system access
- User Experience: Lightweight merchant backend, asset management platform and risk control dashboard with efficient and convenient operation logic
3. End Users, Marketing Strategy & Implementation Roadmap
3.1 Core End User Definition
The project adopts a dual user strategy of enterprise-oriented priority, consumer-side supplementation, institutional empowerment and ecosystem inclusiveness, covering four core user groups:
- Institutional Users (Core): Licensed asset management firms, securities companies, wealth management institutions, physical enterprises and supply chain platforms, with core demands for compliant asset tokenization, issuance and distribution.
- Merchant Users (Core): Cross-border e-commerce platforms, Web3 merchants and AI Agent project teams, requiring low-friction, compliant and risk-controllable stablecoin acquiring and cross-border settlement services.
- Ecosystem Developers (Key Focus): Conflux native DApp, DeFi, metaverse and Web3 innovative project teams, demanding low-cost and quickly integrable payment and tokenization modular capabilities.
- Retail Users (Inclusive Coverage): Global crypto users and Conflux native wallet users, eligible for compliant asset investment and on-chain payment consumption.
3.2 Conflux Native User Onboarding & Acquisition Strategy
- Retail Users: No wallet replacement required. Users interact via native Conflux wallets with simplified Web2-style payment interfaces, realizing zero-threshold on-chain payment and asset subscription.
- Ecosystem Developers: Provide lightweight SDK/API, complete technical documents and demo codes to support rapid integration within hours, significantly reducing project development costs.
- Institutions & Merchants: Adopt one-stop services including technical solutions, compliant architecture, license endorsement and liquidity channels. Leverage HashKey’s global institutional network for targeted business expansion and rapid pilot customer implementation.
3.3 Marketing & Ecosystem Growth Plan (Including 20,000 USD Specialized Budget)
3.3.1 Budget Allocation Details
- Institutional Business Expansion & Targeted Empowerment: Provide dedicated technical docking, implementation consulting and customized adaptation for cross-border trade platforms, top-tier AI Agent projects and traditional financial institutions to accelerate B-end customer landing.
- Merchant & Ecosystem Incentive Subsidies: Offer onboarding exemptions, gas subsidies and operational incentives for the first batch of merchants, institutions and ecosystem projects settling on Conflux to lower early adoption barriers.
- Brand Promotion & Ecosystem Co-Construction: Co-host online AMAs, industry seminars and institutional closed-door salons with Conflux official teams, output implementation cases, technical documents and ecosystem reports to enhance track visibility.
3.3.2 Target Regions & User Groups
- Core Regions: Hong Kong, Singapore, Southeast Asia and other HashKey compliance-advantaged regions, focusing on cross-border trade and Web3 innovation ecosystems.
- Target User Groups: Licensed financial institutions, cross-border merchants, AI Agent developers, Conflux native ecosystem projects and global RWA industry practitioners.
3.3.3 Quantifiable Marketing KPIs
- Onboard and launch formal operation with at least 1 officially signed institutional/merchant partner;
- Host no fewer than 2 joint Conflux ecosystem promotion events (AMA/seminar);
- Deliver at least 1 benchmark implementation case as a replicable ecosystem template;
- Drive no fewer than 5 ecosystem projects to integrate the HSP payment SDK.
3.4 Benchmark Assets & 6–12 Month Commercial Implementation Roadmap
3.4.1 Initial Benchmark RWA Assets
The project prioritizes the launch of low-risk, high-liquidity and compliance-friendly benchmark assets, including tokenized money market funds (MMFs) and tokenized precious metal assets. In the mid-term, it will expand to investment-grade corporate notes, ESG green physical assets and supply chain financial assets.
3.4.2 Pilot Cooperation Resources
Leverage HashKey’s existing Asia-Pacific institutional client network to select high-quality asset issuers for initial pilot cooperation. Meanwhile, open the Conflux ecosystem sandbox to invite top-tier ecosystem games, AI tools and DApp projects for priority payment system integration.
3.4.3 6–12 Month Commercial Implementation Scenarios
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Months 1–4: Ecosystem Closed-Loop Testing & Initial Commercialization: Complete full-link on-chain payment debugging, launch Web3 in-game purchase and DApp clearing scenarios, and build an internal Conflux ecosystem payment loop.
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Months 5–6: Merchant Expansion & First RWA Launch: Expand stablecoin acquiring scenarios for cross-border e-commerce and small-scale trading merchants, launch the first batch of benchmark RWA assets, and realize formal institutional asset onboarding.
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Months 6–12: Large-Scale Commercialization & Dual-Engine Closed Loop: Launch B2B cross-border trade settlement and AI Agent high-frequency micro-payment scenarios; enable direct subscription, settlement and dividend distribution for NexaToken RWA assets via HSP stablecoins, forming a complete commercial ecosystem closed loop and driving sustained growth of on-chain trading volume and TVL.
4. Project Budget (Total: 70,000 USD)
The total grant budget is 70,000 USD, with an independent allocation of 20,000 USD dedicated to marketing and ecosystem growth. All budget items correspond precisely to R&D, security, implementation and ecosystem construction without redundant expenditure.
| No. | Budget Item | Corresponding Milestone | Amount (USD) | Description |
|---|---|---|---|---|
| 1 | HSP Contract & SDK R&D | M1 | 14,000 | Development of core payment contracts, merchant system, settlement logic, AI Agent API and official SDK documentation |
| 2 | Smart Contract Security Audit | M1 | 10,000 | Third-party professional audit covering full HSP and compliant whitelist contracts |
| 3 | Security Bug Bounty Reserve | M1 | 2,000 | Community security testing and vulnerability incentives after official launch |
| 4 | NexaToken Conflux Adaptation R&D | M2 | 12,000 | RWA issuance engine adaptation, token template development and full lifecycle asset function implementation |
| 5 | On-Chain Compliant Whitelist System Development | M2 | 6,000 | Development of KYC/AML whitelist, investor classification, regional risk control and operation backend |
| 6 | HSP & NexaToken Settlement Bridge Development | M3 | 6,000 | Development of functional closed loop for stablecoin subscription, RWA settlement and profit distribution |
| 7 | Annual Infrastructure Hosting & Operation | M1-M3 | 5,000 | 12-month dedicated node hosting, data indexing and backend system operation & maintenance |
| 8 | Benchmark RWA Asset Structure Construction | M2 | 4,000 | Compliance structure design and on-chain adaptation for initial tokenized fund and precious metal assets |
| 9 | Strategic Cooperation & Technical Support | M2-M3 | 4,000 | Dedicated technical docking and landing support for institutional clients and ecosystem projects |
| 10 | Merchant & Institutional Onboarding Incentives | M2-M3 | 3,000 | Settlement subsidies and gas fee waivers for the first batch of cooperative partners |
| 11 | Ecosystem Promotion & Brand Co-Building | M2-M3 | 3,000 | Joint events, case output, industry exposure and ecosystem popularization |
| 12 | Emergency Operational Reserve Fund | M3 | 1,000 | Contingency expenditure for operation maintenance, gas consumption and tool procurement |
| Total | — | — | 70,000 | Including 20,000 USD specialized ecosystem marketing budget |
5. Development Roadmap & Quantifiable Milestone KPIs
5.1 Milestone 1: Official Launch of HSP Payment System (Month 2–3 | 26,000 USD)
- Deliverables: Complete HSP contract deployment and verification, official SDK/API documentation launch, full security audit completion and pilot payment scenario implementation.
- Verification Methods: Publicly verifiable on-chain contract addresses, complete technical documents, official audit reports and verifiable on-chain transaction hashes.
- Quantifiable KPIs: Full contract deployment and verification, official SDK open-source launch, zero high-risk vulnerabilities, integration of no fewer than 1 pilot scenario, and accumulation of over 100 real pilot payment transactions.
5.2 Milestone 2: NexaToken Platform Launch & Compliance System Activation (Month 4–6 | 29,000 USD)
- Deliverables: Complete deployment of RWA tokenization engine, activation of on-chain KYC/AML whitelist system, technical readiness of initial benchmark RWA assets and launch of institutional pilot projects.
- Verification Methods: On-chain contract templates, full-process asset onboarding demo, institutional onboarding process documents and verifiable compliant whitelist system.
- Quantifiable KPIs: Full launch of core NexaToken functions, stable operation of compliant risk control system, readiness of initial benchmark assets, and at least 1 institutional client entering formal pilot operation.
5.3 Milestone 3: Ecosystem Closed-Loop Construction & Large-Scale Adoption (Month 6–12 | 15,000 USD)
- Deliverables: Launch of HSP-NexaToken settlement bridge, commercialization of B2B & AI payment scenarios, release of official benchmark cases and scaled expansion of ecosystem cooperation.
- Verification Methods: Verifiable on-chain asset subscription and settlement records, production-level transaction data, official implementation case reports and signed cooperation certificates with institutional clients.
- Quantifiable KPIs: Full completion of dual-system closed-loop functions, signed cooperation with at least 1 institutional/enterprise client, delivery of 1 official benchmark case, and SDK integration with no fewer than 5 ecosystem projects.
6. Project Team Structure
This project is a strategic core product initiative of HashKey Group, supported by a dedicated full-time team with rich practical experience in public chain payment and RWA tokenization implementation. The team has successfully delivered similar projects on Ethereum, HashKey Chain and other mainstream public chains.
- Project Management (3 Members): Responsible for milestone management, progress tracking, delivery inspection and official communication
- Product Team (4 Members): Responsible for demand sorting, product design, experience optimization and scenario adaptation
- Blockchain R&D Team (12 Members): Responsible for public chain adaptation, smart contract development, front-end & back-end development and system integration
- Testing & Security Team (4 Members): Responsible for functional testing, pressure testing, security auditing and vulnerability remediation
- Ecosystem Business Team (6 Members): Responsible for merchant expansion, institutional cooperation, ecosystem co-construction and brand promotion
- Compliance & Legal Support: Shared professional compliance and legal resources from HashKey Group to ensure full-process compliant operation
7. Application Terms
The applying team solemnly commits to fully complying with all rules of the Conflux Ecosystem Grant Program:
- The team has fully read and understood the Conflux Grants Ecosystem Guidelines;
- The team strictly abides by the no-sales policy for Technical Grants;
- The team agrees to complete KYC verification required by the Conflux Foundation for ecosystem security purposes;
- The team will strictly implement the public project reporting mechanism and complete milestone delivery and data disclosure on schedule.