PixelBank: Collaborative DeFi Art
PixelBank.art is a collaborative DeFi game inspired by Reddit Place. It is a 1000x1000 canvas, where each pixel is an NFT. You can draw on the pixel canvas by staking crypto assets. The assets staked in the pixels are safeguarded by the PixelBank, which can be used to provide liquidity to DeFi services such as lending, and generate yields.
We have chosen Optimism as the Ethereum Layer2 to deploy PixelBank.art. You can play with it now by visiting our Kovan Testnet demo: https://kovan.pixelbank.art/
Now you can both manifest your inner autist by aping into DeFi, AND express your inner artist by drawing pixels.
The Rules of the Game
- Draw on the canvas by staking tokens.
- Another player can draw over a pixel by staking more tokens than what had been staked. The original owner gets a refund.
- The staked assets will generate yields in DeFi protocols.
- Pixel owners can unstake assets anytime by burning pixels.
Each empty pixel has a starting price of $1, and you can stake your crypto asset (starting with USDT, DAI, USDC) into a pixel to become its owner. But there is a catch. Players can’t just hoard pixels forever. Any competitor can forcibly take over a pixel from by staking 25% more than what’s already staked in the pixel. For example, if the crypto asset staked in a pixel NFT is currently worth $100, a competitor can stake $125 to become its new owner, and pick a different color.
If a player drew a Mario on the canvas, another player can turn him into Luigi by changing the pixels to green.
Do you lose your staked assets if somebody steal your pixels? Of course not. All funds used in this game are SAFU in the PixelBank. Let’s say you have $1000 in USDT staked in a pixel, but another player staked $1250 in USDC, you will get a full-refund into your PixelBank account. The only losses you would’ve incurred are two: your NFT ownership, and your honor.
If you have acquired an especially undesirable pixel, that nobody else is willing to take it over from you, is your staked asset stuck? No. You can burn the pixel NFT to return it to the empty state, and get a refund into your PixelBank account.
How To Play PixelBank
A playable demo is currently available at https://kovan.pixelbank.art/
- Have MetaMask installed
- Get Test USDT tokens from the faucet built into the app
- Draw some pixels
- Confirm purchase
The Future of PixelBank
We are currently undergoing security audit to ensure the PixelBank security before the mainnet launch. And we have many great things planned for the future!
- Support staking with more asset types. To begin with, we’ll support stablecoins like USDT, USDC, DAI, sUSD, etc. In the future we plan to support other asset types, informed by price oracles.
- Rarity mining. Your PIXEL NFTs will generate pixel arts that are their own NFTs.
- DeFi use cases such as yield aggregation, swap, or lending.
- $PIXEL token economics. Coming soon.
Why We Chose Optimism
Cheap & fast transactions on Layer2 opens up new UX possibilities for DeFi projects. A DeFi game like PixelBank would be impossible without a fast smart contract platform. We believe that for DeFi to reach the masses, it must be fast, cheap. Cheap, so anyone can play. Fast, so it’s fun!
Optimism seems like a natural choice for PixelBank. Optimism offers seamless support for EVM and all the development tools we are already familiar with. We are super excited to see what new use cases and interaction design will emerge as more and more DeFi projects migrate onto Layer 2.