Dual-engine Implementation of HashKey HSP Stablecoin Payment and NexaToken RWA Tokenization on Conflux Network
I. Project Overview
1.1 Existing Ecosystem Pain Points & Proposed Solution
Existing Pain Points
- Lack of institutional-grade payment infrastructure, restricting the large-scale adoption of merchant payments, cross-border settlement and high-frequency on-chain transactions.
- No end-to-end RWA tokenization platform available, resulting in inefficient on-chain migration for bonds, funds, supply chain assets, IP rights and physical real-world assets.
- High development costs for building standalone payment and tokenization systems, with no mature reusable technical components for developers.
- Shortage of high-quality native on-chain assets, leading to sluggish growth of real transaction volume and Total Value Locked (TVL).
- Absence of a full commercial closed-loop covering licensed fiat on/off-ramp, asset issuance, risk control and professional custody services.
Proposed Solution
Deploy two core business systems on Conflux in a single rollout:
1. HSP Stablecoin Payment System: Delivers second-tier settlement, native on-chain risk control, regulated fiat on/off-ramp and multi-scenario merchant payment modules.
2. NexaToken RWA Tokenization Platform: Supports full lifecycle services including RWA/IP/data asset on-chain registration, issuance, minting and redemption.
The Payment + RWA Tokenization dual engine will fill the gap of institutional-grade infrastructure and complete the core capability layout of the Conflux ecosystem.
1.2 Strategic Alignment with Conflux Network
- High-Performance Network Adaptation for High-Frequency Payment Scenarios Conflux features high TPS, low Gas fees and native EVM compatibility. It can stably underpin high-frequency settlement, cross-border transactions and large-scale merchant access for HSP, delivering low-latency and cost-effective on-chain commercial payment experience.
- Institutional-Grade Technical Advantages for RWA Business Conflux’s ultra-low gas cost, high throughput and transaction finality make it uniquely suited for institutional RWA scenarios such as bond issuance, fund listing and supply chain finance. It effectively reduces the overall cost of asset tokenization, transaction circulation and investor redemption, while boosting transaction efficiency and settlement certainty to support large-value, high-frequency RWA business deployment.
- Compliance-First Strategic Consistency Both parties adopt a compliance-driven development framework that aligns with global regulatory requirements, meets the access standards of financial institutions and corporate clients, and builds credible institutional endorsement for large-scale business implementation.
- Ecosystem Empowerment & Benchmark Demonstration Lower the technical and institutional access threshold for developers and partners. The combined HSP + NexaToken solution will quickly form replicable and scalable benchmark cases, helping Conflux establish differentiated competitive edges in payment and RWA tracks.
1.3 Ecological Benefits to Conflux
- Attract Global Developers and Ecosystem Partners Open official payment SDK and tokenization modular services with production-ready components, cutting the overall development cost for DApp/DeFi/RWA developers by over 80%. Leveraging HashKey Group’s global brand influence, institutional network and full compliance credentials, the project will bring high-quality institutional partners, industry exposure and developer traffic to Conflux.
- Brand Influence & Ecosystem Exposure Upgrade As a globally recognized compliant digital asset conglomerate, HashKey owns mature institutional client resources and industry influence. Upon launch, HashKey’s official channels, industry summits and media partnerships will continuously enhance Conflux’s brand awareness and market influence in compliance payment and RWA sectors.
- On-Chain Economic Growth & Data Improvement HSP will drive massive real commercial payment transactions to boost Gas consumption, transaction count and active wallet addresses. NexaToken will onboard diversified underlying assets including bonds, funds, precious metals and supply chain assets, driving substantial growth of Conflux’s TVL and overall on-chain asset scale.
1.4 Competitive Edges
- Dual-core infrastructure integration: One grant enables simultaneous launch of payment infrastructure and RWA tokenization capability.
- Global licensed compliance: Possesses regulatory licenses in Hong Kong, Singapore, Japan, EU and UAE.
- Mature commercial implementation: Proven service track record with institutional clients including Bosera Fund, GF Securities, Shandong Hi-Speed Group and Shengye Holdings.
- Fast go-to-market: Adopts mature product migration with low implementation risk, short delivery cycle and quick ecological results.
1.5 Project Basic Information
- Official Website: https://www.hashkey.com/caas ｜ https://nexatoken.hashkey.cloud/
- Social Media: Twitter/X @HashKeyGroup
- Conflux eSpace Wallet Address: To be filled
- Corporate Entity: Registered formal corporate entity. HashKey Group is listed on Hong Kong Stock Exchange, Stock Code: 03887.HK
II. Technical Specification
System Objectives & Development Motivation
Objectives
Build underlying dual infrastructure of payment service and RWA tokenization for Conflux, covering full business workflows: commercial payment, asset tokenization, clearing & settlement, and regulated fiat on/off-ramp.
Motivation
Resolve core pain points of Conflux ecosystem: insufficient payment infrastructure, high barrier for real-world asset onboarding, incomplete compliance system and difficulty in institutional business access.
Alternative Solutions & Feasibility Analysis
- Traditional payment: Slow settlement, high service cost, incompatible with blockchain infrastructure.
- Generic crypto payment: Lacking standardized risk control and regulated fiat on/off-ramp channels.
- Generic tokenization tools: No complete compliance framework, limited asset issuance capability and no institutional business channels.
- Proposed solution: Integrates full compliance qualification, mature technology, institutional channels and verified real-world cases, with 100% implementability on Conflux.
System Mission
To equip Conflux with institutional-grade payment and RWA tokenization infrastructure, enabling scalable commercial adoption and standardized asset on-chain tokenization.
System Scope
- HSP Payment Module: Conflux network integration, stablecoin settlement, KYT/AML system, open SDK, merchant operation backend.
- NexaToken Module: Token issuance, minting & burning, subscription & redemption, Oracle service integration, compliance whitelist management, support for RWA/RCA/RDA underlying assets.
Project Goals & Success Metrics
- Complete official launch and stable operation of HSP Payment System on Conflux.
- Complete full deployment and commercial availability of NexaToken Tokenization Platform on Conflux.
- Successfully launch 1 benchmark payment scenario and 1 demonstration RWA asset case.
- Achieve notable growth in on-chain transaction volume, TVL and active addresses.
- Become the benchmark project of payment and RWA track in the Conflux ecosystem.
Definition & Abbreviation
- HSP: HashKey Stablecoin Payment Protocol
- RWA: Real World Assets
- RCA: Real Content Assets
- RDA: Real Data Assets
- AML/KYT: Anti-Money Laundering / Know Your Transaction
- Conflux eSpace: Conflux EVM-Compatible Environment
1.Technical Solution
1.1 System Functional Overview
- HSP Payment: Second-level transaction settlement, on-chain risk control, multi-mode settlement logic, fiat on/off-ramp service, merchant SDK, order management and automated reconciliation system.
- NexaToken Tokenization: Asset issuance framework, customizable smart contract templates, minting/burning/redemption mechanism, permission control, data oracle on-chain, compliance whitelist management.
1.2 Core Composition
- Blockchain Layer: Conflux Mainnet / Conflux eSpace
- Asset Type: USDT、USDC、CFX and diversified RWA underlying assets
- Compliance Mechanism: KYC/AML/KYT procedure, licensed asset custody, traceable audit framework
- Business Channel: OTC fiat service, exchange distribution network, institutional cooperation channels
1.3 Legal & Licensing Framework
HashKey holds valid licenses covering digital asset operation, payment service, asset custody, asset management and securities business in Hong Kong, Singapore, Japan, EU, UAE and Bermuda. All business services operate within a standardized global compliance framework.
1.4 Non-Functional Specifications
- Availability: Out-of-box deployment, complete technical documentation and fast developer integration.
- Reliability: 99.9%+ service uptime, multi-node redundancy design and automatic fault recovery.
- Performance: Support high concurrent transaction processing with low latency, adaptable to large-scale merchant access and asset issuance demands.
- Compatibility: Fully compatible with Conflux EVM, supporting multi-terminal system access.
- UI Experience: Streamlined merchant backend, asset management platform and risk control dashboard.
2. Total Budget
2.1 Grant Application Amount
Total Applied Grant: 100,000 USD
2.2 Budget Justification
- Phase 1 (50,000 USD): HSP system development, Conflux network integration, functional testing, SDK development, documentation compilation and official launch.
- Phase 2 (50,000 USD): NexaToken platform migration, smart contract development, Oracle docking, backend system deployment and demonstration RWA asset onboarding.
The budget covers full-cycle costs including R&D, testing, compliance review, product iteration and ecosystem landing.
2.3 Development Roadmap
Milestone 1: HSP Payment System Launch
- Timeline: 2–3 months
- Allocated Budget: 50,000 USD
- Deliverables: Completed Conflux integration, fully functional payment service, official SDK release, full testing passed, system demo walkthrough.
Milestone 2: NexaToken RWA Tokenization Platform Launch
- Timeline: 2–3 months after Milestone 1 completion
- Allocated Budget: 50,000 USD
- Deliverables: Tokenization engine online, available smart contract templates, full issuance/minting/redemption functions completed, benchmark RWA asset onboarded, system full walkthrough demo.
2.4 Team Structure
- Project Management: 3 personnel, responsible for milestone control and delivery management
- Product Team: 4 personnel, in charge of requirement sorting and product experience design
- Blockchain Development: 12 personnel, responsible for public chain integration, smart contract and backend development
- Testing & Security: 4 personnel, undertaking functional testing, security audit and pressure testing
- Business & Ecosystem: 6 personnel, responsible for merchant expansion, institutional and ecological cooperation
- Compliance & Legal: Shared professional resources of HashKey Group
The team possesses rich practical experience in public chain payment and RWA project implementation, with delivered projects on Ethereum, HashKey Chain and other mainstream networks.
2.5 Terms and Conditions
I hereby agree to comply with the following terms when applying for the Conflux Ecosystem Grant:
- I have read and fully understood the Conflux Grants Ecosystem guidelines.
- I acknowledge and accept that Conflux Technical Grants are subject to the No-Sale policy.
- For ecosystem security, I agree to provide required KYC information to the Conflux Foundation.
- I understand and will strictly abide by the public reporting requirements for grant projects.