Research the e-commerce NFT infrastructure Splyt Core and its token SHOPX

In 2021, NFT makes the encryption field and the traditional world continue to collide with new sparks. The sports world is the first to test the water, and the NBA Top Shot developed by Dapper Labs has created a brand new star peripheral. Traditional artists have also entered the game and auctioned off their NFT works. Luxury goods also combine their products with NFT to create a future fashion vane.

If other fields are constantly trying to touch the new gameplay with a strong sense of the future, then the rapidly rising e-commerce will also be a potential track. Splyt Core, as an e-commerce NFT infrastructure, has clearly discovered this blue ocean.


What is Splyt Core?

Splyt Core is an e-commerce NFT infrastructure for connecting e-commerce stores, brands and branches. Its eNFT, as an unforgeable e-commerce token, is allocated to each item, thereby providing users with a globally updated inventory. eNFT is an authenticity certificate that prevents forgery, has a built-in smart contract, can host third-party currencies to prevent fraud, and has commissions to incentivize members and stores. In addition, the agreement is equipped with an automatic dispute and arbitration mechanism and is managed by consensus to maintain decentralization, flexibility and user participation.

The role of eNFT

  • eNFT inventory catalog: Each product is assigned a unique eNFT, thereby eliminating the problem of duplicate sales by updating the inventory in all online stores.
  • eNFT data traceability: eNFT acts as a Crypto proof of authenticity, with sales metadata and historical records, and provides data points during the product life cycle in the resale market.
  • eNFT bounty market: Brands set bounty for each eNFT tracked and paid on the blockchain to achieve perfect attribution and eliminate counterparty risks.
  • eNFT off-chain definition: The DeFi pool used to mortgage the stock is represented as eNFT on the blockchain and is verified through a decentralized warehouse.

How does Splyt Core work?

Splyt Core can actually be understood as a plug-in based on blockchain technology. Through Splyt Core, it can help traditional e-commerce companies achieve decentralized and efficient operations. At present, its partners Shopify, WooCommerce, Magento can connect their e-commerce stores and upload inventory to the blockchain for casting eNFT, and maintain real-time inventory updates on all platforms where their products are placed.

In addition, Splyt Core runs on the Polkadot chain. With Polkadot’s excellent scalability, Splyt Core can achieve more efficient updates and upgrades than Ethereum.


Minting eNFT : Merchants joining Splyt need to purchase their token SHOPX as a deposit. By depositing a certain percentage of SHOPX, the product can be marked as eNFT on the blockchain, and it contains metadata describing product attributes, profit sharing terms, membership requirements, and internal SKU or tracking data.

The first time the seller needs to purchase the number of tokens is f(x)=1,000,000,000,000,000/(x+200,000,000,000).


The Y-axis represents the deposit, the X-axis represents the commodity price

Through the continuous increase of goods, merchants will have a blockchain inventory, and each eNFT will serve as a proof of the authenticity of the goods they sell. This means that the retailer only needs to upload the product once and can immediately purchase it on multiple platforms.

All-platform broadcast : Once eNFT is established, this information will be broadcast to the Splyt network to synchronize inventory among all markets and branches.

In other words, once the product is purchased, the related eNFT ownership is transferred to the buyer. In this way, the product can be deleted from each store at the same time, thereby eliminating the risk of repeated purchases. Once the transaction is successfully completed, the pledged SHOPX tokens will be released back to the merchant.

eNFT custody : Smart contracts are embedded in each eNFT, so that all funds are used to protect users during the entire life cycle of e-commerce transactions.

This means that when a product is traded, eNFT is still attached to the product. Through eNFT, transaction trajectories and consumer behavior can be tracked to help brands quickly respond to market trends.

Buyer resale : If the buyer decides to sell the item, they can easily relist the item in the global database. eNFT will update and keep its purchase history to prevent the merchandise from being tampered with at will.

Splyt Core’s equity token-SHOPX

Splyt Core issued the equity token-SHOPX, with a total of 500,000,000 pieces. The application of SHOPX tokens well reflects the main functions of Splyt Core:

  1. As an internal exchange method. SHOPX holders can access Splyt Core, buy and sell inventory on the global inventory chain, and store it as eNFT.
  2. When listing products, the seller must mortgage SHOPX to cast an eNFT for a new product. SHOPX will also be used to compensate verifiers and arbitrators, and to provide funding for future development.
  3. SHOPX also has a governance voting function. SHOPX holders can participate in project governance and can vote to support new rules and network updates.
  4. Transaction currency function. Buyers can use SHOP, fiat currencies and other cryptocurrencies to purchase goods.
  5. SHOPX is also the core of resolving disputes. For example, if the product received by the buyer does not match the description of the product, an objection can be filed. The seller can make the SHOPX deposit equal to its original coinage deposit, and the buyer can match the shares. The two parties cannot negotiate and will be arbitrated by a third-party arbitrator. After the arbitrator resolves the dispute, the arbitrator can get a certain SHOPX from the fund pool as a reward, and the rest will be attributed to the dispute. The winner of the two sides. It is in this way that SHOPX will be used to reward users who have contributed to the smooth operation of the market. However, to become an arbitrator, you need to mortgage SHOPX. The more SHOPX you mortgage, the higher the level of disputes you can handle, and the more rewards you will receive after successfully handling disputes.

Complete credit rating mechanism

Unlike traditional e-commerce credit ratings, Splyt Core uses a more autonomous credit system. Splyt Core’s products and user credits are spread across all markets, helping products accumulate a large number of and accurate reviews, while suppressing malicious or fraudulent user behavior.

1. Individual user credit: Individual users (including brands) will enjoy basic credit based on their trading activities. A successful transaction will increase the user’s credit. Established sellers will also get a lower listing margin because of their good credit.

Users lose credit in three areas:

●The buyer can dispute the transaction. Losing a lawsuit in a dispute will lower the user’s rating.

●The seller is listed for fraud/spam and will be degraded after arbitration.

●The seller loses the transaction dispute and lowers the rating.

2. Product credit: After the transaction is over, the buyer can evaluate the product, and the evaluation will be stored in the eNFT metadata.

In order to further encourage the evaluation system, buyers’ high-quality evaluations can be rewarded by sellers, which are tokens or discounts.

. The credit market: the market will have access to basic credit based on user experience. Just as users can incentivize product ratings, market feedback can also incentivize store ratings.

. Community-driven balance: With the development of Splyt rating reward tokens can be subsidized by the pool. The community can vote to increase rewards for products and markets with underrated ratings to encourage decentralization within the system.

Development roadmap

According to official information, the project has launched a testnet in 2020. In the first quarter of 2021, Splyt Core has completed the integration of Shopify, and the SHOPX mainnet will be launched. It is expected that the Shopify client will be launched in the second quarter and the eNFT protocol mainnet will be launched.

Until the first quarter of 2022, Splyt will complete the launch of the DeFi mainnet.



The rise of e-commerce is bound to usher in a new round of changes since it hit physical stores. In recent years, the encryption field has continued to merge with traditional industries, and the e-commerce track is bound to be full of opportunities. Although Splyt Core’s current cooperation with traditional e-commerce companies is not very sufficient, according to its long-term plan, it is only the initial stage, and it will continue to expand its partners in the future.

According to the latest official news, AscendEX (BitMax) will launch SHOP/USDT trading at 21:00 on May 6th, Beijing time, and deposit and withdrawal are currently open. After the listing of AscendEX, SHOPX’s liquidity will be further improved, which will greatly benefit the Splyt Core ecosystem.

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