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project screenshot
project screenshot

Toffi.bid

Toffi is a decentralized, public orderbook for NFT marketplaces. Place gasless bids/list NFTs without relying on the web2 infrastructure of isolated NFT marketplaces!

Toffi.bid

Created At

HackFS 2022

Winner of

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🏊‍♂️ NFTPort — Pool Prize

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🏊‍♂️ Valist — Pool Prize

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🏆 HackFS Finalist

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🥉 Covalent — Best Use

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3️⃣5️⃣ IPFS/Filecoin — Storage Mage

Project Description

NFT marketplace are great because because they facilitate trustless NFT sales using smart contracts. However, they are not as decentralized as they should be. They still rely heavily on web2 infrastructure for a crucial part of their apps: orderbooks. When you place a bid on Opensea for example, they store that signature in their centralized web2 backend. This means that all NFT orderbooks are isolated for every individual marketplaces (making it hard to take full advantage of the broader NFT market) and we all have to rely on their web2 infrastructure to make offers on NFTs.

Toffi solves this issue by providing a platform to place NFT bids via IPFS. You can choose which protocol (like seaport) to use for the final sale transaction and how much you would like to bid on an individual NFT. Toffi automatically takes care of token approvals and signatures for seaport and saves your bid on IPFS. Bids don't require gas payments, only a one-time token approval if necessary.

The owner of the NFT can view all toffi bids made on their NFT and choose to accept one. Toffi grabs the bid signature from IPFS, and submits a sale transaction to the Seaport contract using that signature. Take full advantage of Seaports capabilities, all while enjoying the benefits of a non-isolated and decentralized orderbook!

How it's Made

The decentralized Toffi orderbook is saved on IPFS using an OrbitDB instance. Clients connect to the DB directly and all data is persisted between peers thanks to IPFS's pubsub. Toffi has full support for searching and bidding on NFTs for Seaport contracts on Polygon, Mumbai and Ethereum. The NFT search page utilizes NFTPort's search API. Polygon NFT sale data is fetched using Covalent thanks to its multi-chain support. The app, a Next.js Typescript project, is published on Valist.

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