What's Layer 3?
Last updated
Last updated
CollectiVerse is building a new technology middleware protocol that makes building in the DeFi and NFT space easier while simultaneously better protecting investors. We gamified the protocol with a metaverse to incentivize usage of the protocol, create diversified revenues, and fund development of our technology over phases.
What exactly is middleware? In 2021 the application infrastructure middleware market was US$ 47.5 billion. It's a massive market that includes companies like SAP, Salesforce, Oracle, and Microsoft. Middleware makes building applications easier while addressing complexities and shortcomings in the underlying infrastructure. There is a critical need for middleware in the DeFi/NFT space to address complexities and shortcomings of Layer 1 and 2 blockchains (Ethereum, Avalanche, Polygon, Aurora, Binance, Fantom, Arbitrum, Shimmer, etc).
One of our founders, Kul Singh (aka Apollo) previously founded and sold 2 middleware companies, including one to publicly traded Box. These products fixed issues and assisted enabling applications for Wall Street customers (large investment banks such as Goldman Sachs, exchanges, and major hedge funds). He's bringing that experience to the DeFi and NFT space.
Our middleware protocol is called Layer 3 because:
It consists of 3 core elements or layers described below
It's designed to sit on top of any Layer 1 or Layer 2 blockchain (we're starting with Avalanche and EVM-compatible chains).
CollectiVerse has similarities to Layer 1s or 2s in that developers can create projects on our platform. We are different because we aren't a new blockchain so we don't need our own RPC, testnet, etc. Instead we piggyback on existing blockchains (as middleware) where we add on built-in developer services and investor protections.
The need for investor protections is because project owners today typically control the contracts and treasury, giving investors no recourse. It's called trustless, but investors need to be 100% trustful of the owners. Even if you own a token bought on a centralized exchange, if the owners steal the funds then the value of your tokens is worthless.
CollectiVerse addresses this by inserting itself between projects (i.e., the applications) and Layer 1s or 2s (i.e., the infrastructure) as a new middleware layer, designed to provide benefits to investors and builders.
The 3 major components or layers of our Layer 3 platform are:
No-Code DeFi Platform
Decentralized Custody
Stablecoin ($ROCKET)
The goal of Layer 3 is to empower more builders to enter this space without expertise and inexpensively, make the space more accessible to more mainstream investors by hiding the complexity, and ensure it's done in a manner that better protects investors.
