Hashkey Grant Application

[picwe-source]

Grant Type

Session 1

Email

picwe.official@gmail.com

Telegram

https://t.me/PicWeCommunity

X/Twitter Handle

@PicWeGlobal

Discord/Community

https://discord.com/invite/picwe

Previous Application

N/A

Code Audit

https://drive.google.com/file/d/12APmNFf_dy2HBnDof_u0mM03_5vKSPWN/view

Project Information

1. Project Description and Objectives
   Introduction:
   PicWe is an omni-chain liquidity infrastructure and the first decentralized protocol to enable truly free asset flow across all chains.
   Purpose:
   It aims to empower users, institutions, and AI agents to seamlessly, efficiently, and securely participate in the global liquidity network. By removing barriers between different financial systems, PicWe ushers in a new era for the circulation of both physical and financial assets.
2. Success Potential
   Experience seamless payments and withdrawals across any blockchain using the fully on-chain settlement stablecoin WEUSD.
   Invest in RWA (Real World Assets) with WEUSD. Innovatively combining both investment and payment functions, your assets participate in global 24/7 liquidity, generating continuous yield every second.
   The decentralized infrastructure MCP allows you to make on-chain investments effortlessly with the help of AI agents, even without any blockchain knowledge.
   3.Mission Alignment
   PicWe enhances the liquidity of assets on the HashKey Chain by allowing users from other blockchains to easily purchase HashKey Chain assets using the stablecoin WEUSD.
3. lnnovation
   The Impact: Redefining Blockchain Interoperability
   PicWe is not just a liquidity solution—it represents a fundamental transformation in blockchain interaction. By removing barriers to liquidity and enabling seamless interoperability.
   Enhances Security:Eliminates vulnerabilities associated with traditional cross-chain bridges.
   Maximizes Efficiency:Reduces transaction costs and streamlines user experiences with a simplified, bridgeless model.
   Unifies Liquidity:Maintains liquidity on native chains, fostering a truly interconnected blockchain ecosystem.
4. ls it open source?
   Yes. it is open source.
   6.Free or fee-based for end users
   PicWe charges a 0.5% fee on each cross-chain liquidity transaction.
   7.lnteroperability withHashkey ecosystem
   PicWe has enabled liquidity interoperability between HashKey Chain and other EVM chains (such as Arbitrum, Base, BNB, Plume) as well as the Movement chain. Deploying WEUSD on HashKey Chain helps address the absence of a native USDC stablecoin on the network. RWA assets on the HashKey Chain can also be distributed and traded across multiple chains through PicWe.

Market Analysis

1. Competitors and Differentiation:
   Currently, there are no real competitors in the omni-chain infrastructure space. Existing so-called omni-chain asset projects remain at the narrative level and have not built a truly decentralized infrastructure for cross-chain asset liquidity.

Much like traditional financial systems that face inefficiencies in currency exchange, blockchain ecosystems struggle with liquidity fragmentation and security challenges. Cross-chain bridges were introduced as a solution, but they’ve proven costly, slow, and vulnerable. In 2022 alone, over $1 billion was lost due to bridge-related hacks. Instead of uniting blockchains, bridges further fragmented liquidity and added friction to an already complex ecosystem.
Beyond interoperability issues, the reliance on Proof-of-Stake (PoS) models for network security presents another challenge. PoS depends heavily on Total Value Locked (TVL), and as liquidity scatters across chains, the cost of attacking smaller chains decreases, making them more vulnerable to malicious actors. The exponential growth of chains and assets in Web3 demands a new, unified approach to liquidity and interoperability.

The Solution: PicWe’s Omni-Chain Liquidity Infrastructure
PicWe was conceived to unify blockchains and address these challenges through a groundbreaking, bridgeless solution. Acting as the missing puzzle piece, PicWe connects isolated blockchains to create a seamless, secure, and efficient system for liquidity and transactions.

At its core, PicWe is powered by the Omni-Liquidity Byzantine Consensus (OLBC) mechanism. This innovative model ensures network stability by distributing liquidity across chains in a fault-tolerant, bridgeless architecture. OLBC enables each node in the network to maintain the liquidity thresholds necessary for secure transactions, establishing PicWe as a scalable infrastructure for decentralized finance.

2.Current User Base and Estimation Method
Currently, around 70,000 addresses have interacted with PicWe’s infrastructure, the majority of which come from the Movement chain. As deployment on EVM chains expands and RWA functionalities go live, the number of WEUSD holders continues to grow. The total supply of WEUSD has already exceeded $768K.
https://defillama.com/stablecoin/weusd

Recipient Address

0xe8688a837445756446650228bcc58782f6147b67

Budget and Plan

1. Grant size and justification
   250K-500K. Funds allocated for activities on the HashKey Chain will be used to support events that utilize WEUSD on the HashKey Chain, including activity incentives and rewards for staking in WEUSD liquidity pools.
2. Project Execution Plan
   Through Twitter and Discord campaigns, users are rewarded for interacting with WEUSD minting.
   AMAs and a series of promotional events are used to encourage users to bridge WEUSD from other chains to the HashKey Chain.
   The WEUSD/USDC liquidity pool will be established, with HSK provided as reward incentives.
3. Token Distribution
   30% will be allocated for marketing and promotional incentives, while 70% will be used to incentivize on-chain liquidity pools.
4. TokenDistribution Timeline
   Marketing rewards will be distributed within one month after receiving the grant, while liquidity pool incentives are expected to run for three months.
5. Post-lincentives Sustainability
   Over the course of 1 to 3 months of incentive programs, both WEUSD and USDC on the HashKey Chain are expected to see steady growth. In the next phase, it will be essential to further incentivize users to utilize WEUSD for participating in RWA investments, new token offerings, and trading functionalities.
6. Additional Accountability Info
   weusd_address: 0xdd73EA766B80417C0607A3f08E34A0C415D89D56
   mint_redeem_address: 0x5D54f1092FD1750A3ab96972dc1867c5B23eF22C
   cross_chain_address: 0x4b3495391ebB170aF31185AeD7bB4dfa903Ed1Fd
   usdc_address: 0x054ed45810DbBAb8B27668922D110669c9D88D0a

Hashkey Relationship

1. Problem Solved for Hashkey
   The absence of a native stablecoin, insufficient liquidity, and lack of active user addresses.
   2.Value Proposition
   By leveraging the stablecoin WEUSD, HashKey Chain can achieve seamless liquidity connectivity with other blockchains, enabling users from other chains to more easily access and purchase assets within the HashKey Chain ecosystem.
   3.Growth Potential for Hashkey
   As a result, on-chain liquidity, address count, and user interactions are all expected to see significant growth.
   4.Commitment to Building on Hashkey
   PicWe has completed its mainnet deployment on the HashKey Chain.

Milestones

1.Milestone 1: An additional 1,000 addresses have been added, with a TVL of 100,000 WEUSD within 1 month.
2.Milestone 2: 3,000 addresses have been added, with a TVL of 300,000 WEUSD within 2 month.
3.Milestone 3: 5,000 addresses have been added, with a TVL of 500,000 WEUSD within 3 month.

Terms Confirmation

• I confirm that all information provided is true and accurate
• I understand and agree to comply with the grant policies
• I understand the KYC requirements
• I confirm token distribution complies with legal requirements