Craft x Neutron
We’re thrilled to announce our collaboration with Neutron, a general-purpose smart contract platform secured by the Cosmos Hub.
Neutron is one of the first consumer chains to go live in the Cosmos Ecosystem, which will leverage the provider-chain (e.g. the Cosmos Hub) to produce blocks for the consumer chain (e.g. Neutron). In a nutshell, interchain security provides Neutron the same degree of security as the Cosmos Hub.
Why Neutron?
Neutron aligns with our vision for cross-chain NFTs that rely on different technical stacks, and the idea of combining liquidity (both NFTs and capital) across different networks. In short, Neutron is looking for a cross-chain marketplace to complement its NFT offerings, which Craft will implement. As for Craft, we’re looking for a suitable platform to enter Cosmos and expand across all IBC chains, to create maximal impact from a chain integration.
Neutron also has a unique implementation for ICQ (Interchain Queries), where raw data is already parsed into elegant data structures, and this is completely smart contract based as opposed to modules, for continued compatibility across supported zones. We can ensure a more comprehensive range of supported ICQs, by leveraging their key-in-hand IBC infrastructure. This will significantly reduce engineering overhead and our time to the IBC market, as we can access IBC markets without needing to redeploy on every chain.
Neutron network is set to launch Q2 2023, the project is built by the P2P team.
What is Craft building on Neutron?
This integration is broken down into two main milestones. In the first milestone, Craft will redeploy majority of the smart contracts natively on Neutron. We will also be bootstrapping a full-fledged NFT marketplace on Neutron with features such as buying/selling/offering/auctioning/sweeping, and builder tools such as NFT Launchpads. By the delivery of this milestone, we’ll be ready to house Neutron users and facilitate all their NFT trading needs, natively on Neutron.
The second milestone will be focused on multi-chain integrations. Craft will be using the xCall service to enable cross-chain integrations between ICON and Neutron (and effectively, all IBC enabled chains). This also entails some fundamental upgrades to the existing Craft marketplace, including multi-currency support, multi-chain governance, and incentives for newly onboarded chains and collections etc. We plan to take this opportunity to lay down the foundations for future integrations, making Craft the ultimate hub to unite fragmented NFT liquidity from other networks.
$CFT, the governance token of the Craft Network, will continue to be the case regardless of future integrations. We have laid out our $CFT 2.0 plans, and we strive to maintain a sustainable token economy. Future integrations will also earn $CFT tokens, from delegation incentives (e.g. Neutron collections will receive a large $CFT delegation pool, more details to come), to trading and restaking $CFTs. Craft also intends to continue distributing 100% of its protocol fees back to the community to incentivize $CFT stakers.
What is the timeline of this integration?
We are already in the development phase, some contracts have been deployed on the Pion testnet. We’ll continue to implement all the necessary smart contracts and we aim to deploy a testnet version in the coming weeks. We’ll be conducting thorough testing then, before final mainnet release.
To learn more about this collaboration and our future plans, we will be hosting a Q&A session soon. Stay tuned!
