Jupiter NFT Market

#1

TECHNICAL GRANT APPLICATION – Jupiter NFT Market – TIER-2

APPLICATION INTRODUCTION

Novel and emerging technologies like what we have experienced over the past few years with web3 and non-fungible tokens (NFTs) beg an immediate need for inclusion and adoption. Having missed out on web1 and web2, majorly due to technological advancement, inadequate building blocks and lack of internet infrastructure, Africa as a continent needs to pay close attention to web3.

Our NFT marketplace will reshape the global economy, provide access to economic opportunities and wealth distribution through digital content monetization. The scope of this project extends beyond creation, storage, display and trading of digital collectibles such as art, audio and video. Our product also seeks to focus on inclusion of Africans in the NFT space as well as promotion of African art and artists to a global audience.

The project is very artist-centric, this means that we understand the value in content creation, and understand the need for royalties as the NFT keeps changing ownership, ensuring the founding owner/ creator of said NFT can have the option of setting up royalties for a percentage cut of the price of the NFT.

TEAM:
Abdulrasheed Adediran => Co-Founder
Social media : linkedin.com/in/abdulrasheedadediran
GitHub repos: github.com/adediranabdulrasheed

Olajumoke Boladale-Lawal => Co-Founder
Social media : linkedin.com/in/jutivia/
GitHub repos: github.com/jutivia

Fafemi Adeola => Frontend Developer
Social media: linkedin.com/in/adeolafafemi/
GitHub repos: github.com/kojusola

Olapegba Olaifa => UI/UX Designer
Social media : linkedin.com/olapegba-olaifa/

TOTAL BUDGET AND FUNDING TIER

The minimum viable product MVP of the Jupiter NFT market will allow users to mint NFTs in the form of images, audios and short videos with a maximum upload size of 1gb and list them for auction at a starting bidding price. The videos listed can also be streamed online and the value each video will be relative to the streams the video gets. Fiecoin and IPFS will be the primary storage clients.

The total budget for the completion of the project is capped at 100,000 CFX (at $0.15/CFX).

Milestones:
Design and Architecture
Duration: 20 days
Grant subtotal: 40,000 CFX
Deploy to Testnet
Duration: 40 days
Grant subtotal: 40,000 CFX
Deployment to Mainnet
Duration: 30 days
Grant subtotal: 20,000 CFX

TECHNICAL PROPOSAL

Overview:
Web and mobile applications with support for Android and IOs will be built to accommodate as many users as possible. The applications will be designed to be most intuitive and user friendly. The system will be integrated with Conflux API and built using the Novel Diamond Standard (EIP2535).

Functional Requirements
Users will be able to;
Visit the application and connect their wallet or create one instantly
Create or mint NFTs
List NFTs for sale
Bid for NFTs, and once the bid is accepted, ownership of the NFT is transferred to the buyer.
Explore the market through robust search engines that return specific or desired information
Have their transactions approved when all requisite conditions have been satisfied
Receive support to resolve technical issues

Nonfunctional Requirements

Usability: A user-friendly and interactive application that is easy to use by an average non-technical user.
Reliability: The application will be audited by professionals to ensure all possible vulnerabilities are mitigated before deploying to mainnet.
Performance: The application will be fully responsive across all devices, fully optimised for high performance and scalable to accommodate a very large user base. It will also be built for cross-browser compatibility.
Supportability: The product will be primarily built to support the Conflux blockchain, on the e-Space mainnet as it is evm-compatible.
Security of user’s assets: The smart contract will be properly audited by professionals in the space, which will largely guarantee security of users’ assets.
Decentralised storage: Each user’s assets will be stored on a decentralised storage system (IPFS) for optimum performance.

SYSTEM MODEL

DEVELOPMENT ROADMAP

Grant Milestones:
Design and architecture:
This phase will be dedicated to designing our user interface and product flow. High fidelity mockups that show complete screens of the product as well as the system’s architecture will also be on hand.
Milestone duration: 20 days.
Grant amount: 40K CFX

Deploy to testenet:
At the end of this milestone, the product must have been built with full frontend implementation and backend/smart contract intergartion. The application will also be deployed to testnet to ascertain all features are adequately functional. is supposed to be fully fledged out at this stage.
Milestone duration: 40 days.
Grant amount: 40K CFX

Deploy to mainnet:
This is the final phase of the project and involves deployment of the tested product to Conflux e-Space Mainnet. The smart contract will also be audited to ensure security of the product to cyber attacks or other vulnerabilities before deployment to the and deployed on the Conflux Mainnet. Successful completion of this will mark the end of the building phase of the product.
Milestone duration: 30 days.
Grant amount: 20K CFX

1 Like
#2

Hi @abdulrasheed, thank you for applying for a Conflux Network grant! A few questions:

  1. Will this project be deployed on Conflux Core or Conflux eSpace?
  2. If you plan on deploying on Core, how does your product compare to other NFT marketplaces on Conflux?
  3. Will your product include both a primary (from artists) and secondary (resale) market for NFTs? Will you have curated NFT drops, or its mainly users minting their own NFTs?
  4. What kind of sale types will you support?
  5. Will there be any blacklisting mechanism for users re-minting famous NFTs and trying to resell these fake copies?
#3

Hi! Welcome to Conflux.

Here are several questions:

  1. You mentioned mobile app with support for Android and iOS. Would you plz tell us when will they be launched?

  1. You also mentioned EIP2535. Would you plz introduce the reason using this standard?

  2. Plz add more details about milestones and deliverables.

#4

Welcome. Any artist resource intro, please?

#5

Hello @abdulrasheed, thank you for applying for this grant! I have some questions:
1 - Are you planning to include any fee when trading or minting NFTs?
2 - Are you considering creators/artists getting a % of the trading volume of the NFTs created by them?
3 - Are you planning to fork any existing open source marketplace or are you going to write all the code by yourself? If you are using any reference can you name them please?
4 - How will the IPFS storage be paid? And what are the maintenance considerations you can think of?
Thanks again for applying and I’ll be looking forward to your answers.
Regards,

#6

@thegaram, thank you.

  1. The project will be deployed on Conflux eSpace as it is EVM compatible.
    Also, we are choosing to build the MVP on eSpace because we believe a chain with support for more familiar wallets will facilitate adoption.
  2. We do not intend to deploy on Core as a part of our MVP.
    Our product differs from other NFT marketplaces in the following regards;
    Jupiter is a niche market for a specific type of art. We intend to support African-inclined arts/artists.
    Creators will have the option to earn royalties on their NFT. They will also get to set the rate (in percentage) when minting, although this will be capped at 10%.
    A feature that allows creators to be rated. We expect this to add credibility to the assets while stopping other users from buying fake NFTs or non-credible virtual assets.
    Provide necessary information for creators such as the users who viewed their NFTs and how many people have made the bidding once listed.
  3. Yes, the product will include both primary and secondary markets, Also, we intend to have curated NFT drops.
  4. Instant sale: Users will be able to sell their NFTs immediately an offer is made for it.
    Offers: All NFTs on the Jupiter marketplace will be listed to accept offers but will only be sold when the holder accepts the bid.
    Auction: The user will be able to list their NFTs for sale for a specified period of time. After the window for bidding elapses, the user with the highest bid gets to buy the NFT
  5. Yes, measures will be in place to mitigate these activities.
    We plan to protect buyers from purchasing counterfeit/ fake NFTs by appending “signatures” of original creators to each NFT. So, regardless of the number of trades that have taken place from its first listing, buyers will always have access to the details of an NFT’s origin. This is to save users/collectors the hassle of having to do more research on the authenticity of the NFT, as all they have to do now is check and verify the authenticity of the creator.
    Users will also be able to flag NFTs they suspect to be counterfeits by reporting said NFT using the report interface attached to every NFT listed, with a reason or proof. These reports get to us, and if verified as counterfeit, the NFT will be blacklisted, and the lister will not be able to sell said NFT. The creator of the NFT will also be blacklisted, alongside all their listed NFTs found to be counterfeits.
#7

@Coolbit, thank you.

  1. The mobile applications are intended for the long term. The focus of the MVP is the web application. Although this will be built to be fully responsive with cross browser compatibility. When that is up and running, and adoption is high, we will proceed to building the mobile applications for Android and IOS.
  2. The reason for using this standard is to make the product robust and upgradable. This is to ensure that our NFT marketplace’s smart contract can always be updated whenever necessary without worrying about immutability of deployed contracts.
  3. First Milestone: UI/UX/Architecture
    The first milestone is to deliver high fidelity designs and architecture upon which the entire product will be built. The design will consist of an intuitive user dashboard. It will also be designed to be highly scalable to display a plethora of NFTs with customizable features.
    Second Milestone: Smart Contract Integration/Deployment to Testnet
    Once the designs are finalised, we will proceed to the development stage. In the development phase, we will use top languages like Solidity, React, Javascript, and Typescript. The product will be built to support 3rd party wallets with password & recovery options. It will also be built to be compatible with the NFT standard and maintain stability under high load. Once the development stage is complete, we will deploy to e-space testnet.
    Third Milestone: SMart contract Audit/ Testing/ Deployment to Mainnet
    The third milestone is the final phase of the MVP. At this stage, the project will be audited by professional auditors for security and tested thoroughly. Regression testing will be conducted on the frontend. After all requisite conditions have been satisfied and the product has been tested for efficiency, the project will be deployed on the mainnet.
#8

@Yumingyuan, thank you

Not at the moment.
Artists interested in using our platform will be reviewed and screened for their arts. Not all artists would be accepted in Jupiter, only artists whose arts satisfy our criteria would be able to use our platform.

#9

@0xn1c0, thank you

  1. Yes, a service fee (3.5% of each trade) will be paid to Jupiter marketplace as commission.
    Creators will not be charged additional fees for minting on the marketplace asides the transaction fees.
  2. Yes, creators will earn a percentage of the trading volume of the NFTs they create as royalties if they enable this feature when minting the NFT. The commission will be set by the creator, this means they will get to decide how much they want to earn as royalties. However, it is worthy to note that this fee will be capped at 10%.
  3. We do not intend to fork any marketplace directly. We have gone through the code of quite a number of marketplaces, and have decided to come up with our own code, while also making reference to: Opensea, Rarible, Superrare, Enjin and Foundation NFT marketplaces
  4. IPFS will be paid from revenue generated from service fees. The api provider for IPFS hasn’t been decided on as of right now, but we plan to get in touch with Infura or Pinata to discuss a fair rate for storage.
1 Like
#10

Hello @abdulrasheed,
I have an additional question regarding user security. It’s know that some NFT Marketplace have suffered from exploits and phising attacks, so I 'd like to know, what measures are you planning to take to prevent those kind of issues and protect the community?

#11

@0xn1c0

Phishing attacks are socially engineered, therefore cannot be handled effectively using a technical approach. Users have a role to play in information security to effectively stay protected from phishing attacks. What we will do to protect our users is to ensure they are adequately educated on the necessary precautions to take when using the web and our product. They will know how to identify scam web pages and how to verify addresses for authenticity. Jupiter will equally have security measures in place to filter out malicious links.

1 Like
#12

Hi @abdulrasheed, will any components of the Jupiter NFT market be made open sourced?

For example any NFT minting tools? Or Marketplace infrastructure?

#13

Hello. Is it convenient for the developer or designer to offer us the design of your platform’s User Interface? UI or a prototype of the system is the best.

#14

Yes, we currently have a design that is still in development. The progress in the design attached below shows the design for just video art content, but this had to be paused to incorporate new features so as not to limit the content of the artists on our space. This will be in active development once the architecture is complete.

1 Like
#15

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