Planck

Pre-market platforms allow users to trade tokens that are yet to be issued or launched on trading platforms. It provides investors with an opportunity to bet on the market performance of the token, letting users trade the token during the speculative period between the allocation announcement, token distribution, and official listing on a trading platform. Trades are made as a pledge between the buyer and seller to satisfy the order when the token generation event is concluded. Pre-markets are structured like regular P2P trading platforms, with the key difference being that pre-markets retain custody of funds from both parties until the conditions are satisfied. Planck facilitates a mutually agreed on-chain transaction for both buyers and sellers. This not only makes trading more accessible but also significantly reduces the risk of financial loss due to fraud. Protocols are increasingly adopting "points systems" where users earn points for their contributions to the community. There's speculation among users that these points could eventually be exchanged for the project's token, following a trend observed in recent significant airdrops.

Planck revolutionizes pre-markets and points markets by incorporating ERC-404 tokens. ERC-404 is a token standard that combines ERC-20 and ERC-721, allowing tokens under this standard to be both fungible and non-fungible at the same time. Each trade order on Planck is represented as an ERC-404 token, minted to the order taker. Each token is directly backed by the collateral supplied during order creation. These ERC-404 tokens can be split and traded like tokens on our derivative/secondary market. Here, secondary buyers can purchase fractions of the original offer, by making use of the fungible nature of ERC-404. In this way, they can trade or gain ownership of a fraction of an order without having to expend large capital. Hence, Planck offers two markets, one for trading points and airdrop allocations, and the other for the ERC-404 derivative of the primary market order.

After the token generation event (TGE) or airdrop, the ERC-404 tokens can be redeemed for the corresponding offered token. This is done based on the fraction of the token owned by the respective user, enabling them to claim an equivalent share from the original trade order. If the token was not fractionalized, the original trade order amount itself is honored during settlement.

1. Smart contracts - developed using Solidity and Foundry. We made use of the OpenZeppelin library and Pandora Labs ERC404 library. The contracts have been deployed on Arbitrum Sepolia and Gnosis Chiado networks.

2. Frontend - the scaffold-eth foundry template was utilised. Next.js and Tailwind CSS have been used to develop the UI.