Lapis is an efficient pricing market for NFTs and a DeFi platform. The Lapis protocol represents works in the form of ERC-721 tokens, the standard for NFTs. Lapis establishes perpetual bid markets for each work that is created, enabling a liquid market for previously highly
illiquid assets. Work owners do not have to manually list works for sale and can accept bids at any time. When a bid is accepted, or an ask fulfilled, revenue from the sale will be split amongst the shareholders. Shareholders for a work are limited to the owner, the previous owner, and the creator. All market data is accessible to any market participant. Lapis also utilizes cryptographic checks to ensure that works and their metadata is unique. The checks are enforced within the protocol and can be called at any time by any user.
Along with pure price discovery of a work through transfers, Lapis will also implement voting mechanisms to allow users to voice their appreciation for a work without having to bid for ownership. Lapis will also extend the platform functionality to introduce more elements of DeFi, such as liquidity mining and tokens swaps. Lapis is designed to be a multi-chain protocol that will be deployed to EVM compatible chains (Polygon, Fantom) first. Initially, Lapis will be deployed to Binance Smart Chain (BSC), because of its low, accessible fees and significant adoption. As protocol adoption grows, Lapis will also be developed for and deployed on emerging chains such as Solana.
