ToniqLabs Review: Building the Future with the Internet Computer

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ToniqLabs Review: Building the Future with the Internet Computer
Table of Contents
Table of Contents

What happens when an accomplished team with great ideas join the Internet Computer Ecosystem? Well, I will answer this easy question: the project becomes unstoppable!

The Internet Computer Ecosystem is getting stronger and stronger, and proof of this is the exponential growth in the number of projects being developed. Today, we will look at Toniqlabs, one of the most dynamic labs on the Internet Computer.

About ToniqLabs

ToniqLabs is a Web3 web development studio that builds professional tools and services on the Internet Computer. The founder is Stephen Andrews, a senior developer with over ten years of experience in web, mobile, and blockchain development. He works hand-in-hand with Mac Yap, who is a professional designer. They have been involved in the blockchain development space for the last five years. In addition, other developers, designers, and illustrators are also involved.‌

ToniqLabs Philosophy. Image via toniqlabs.com

Official Channels: Website | Twitter | Medium | Github

Product Portfolio

Toniqlabs’ success is unquestionable. In a matter of months, they have managed to build a product line that is helping build solid foundations for the ecosystem. This section presents a summary of the tools and dApps developed by this talented team. Below you can see their product portfolio:

Stoic Wallet

Stoic Wallet is a platform that can be used as an alternative to the NNS. It can authenticate users through various methods and create an Internet Identity. Besides that, the Stoic Wallet supports ICP tokens such as Wrapped Cycles (WTC tokens) and NFT’s.

The main functions of the wallet are to:‌

  • Create digital wallets
  • Create sub-accounts
  • Create neurons
  • Achieve ICP Transferring funds and convert the container into Cycles
  • Buy and sell Cronics within your Stoic Wallet in the NFT Marketplace
Image via stoiqwallet.com

Rise of the Magni

Rise of the Magni (ROTM) is a strategy and tactical game where players take turns to deploy Magni to the battlefield for tactical battles. Gamers can acquire more Magni heroes through trading, fighting, and fusion, and each Magni is one NFT.

Recently, this fantastic game won first place in the DSCVR Hackathon Season 1: The Game.

‌Would you like to play? Check out this article about the game, the online guide to learn the basics, and then take to the battlefield on the RiseOfTheMagni.com website.

Moreover, stay tuned for all the news n the telegram channel dedicated exclusively to the game:

Cronic's NFT

Cronics are a collection of  NFTs "virtual pet" style games created by ToniqLabs. These little critters like to chill in canisters and "connect" with their Cronic friends on-chain. Cronics also demonstrate the Internet Computer Protocol power and the versatility of the EXT as a token standard.

Moreover, stay tuned for all the news on the telegram channel dedicated exclusively to the Cronics NFT. ToniqLab will launch the first play to earn using the Cronic Battle game in October!

Exponent platform

Exponent is the first NFT platform on the Internet Computer. It will provide users with tools and on-chain services to design, deploy and manage NFT and traditional tokens. Exponent also provides a decentralized marketplace. Since the launch of the NFT Marketplace, it has been a great success. They have already surpassed $100k in volume through their NFT market after seven days and $250k after 11 days.

NFT Marketplace is available via Stoic Wallet. You can list your Cronic NFTs for sale directly from your wallet. In the same manner, you can buy them from the NFT Marketplace.‌

Entrepot

By definition, an entrepôt is a port, city, or trading post where merchandise may be imported, stored, or traded. Such centers played a critical role in trade during the days of wind-powered shipping.  Entrepot.app is developed to provide a similar role in the digital world: a trading post where users can store and trade digital assets in a decentralized, non-custodial way.‌

Buy and sell NFT with Entrepot. Connect your wallet to buy NFT directly from the marketplace and sell them directly from your Stoic Wallet. Visit the website of entrepot.app.

Stoic Identity

Stoic Identity is an Internet Identity that enables users to connect with applications using their StoicWallet.com account. It is a simple JavaScript library that can be used with the HttpAgent. It works similarly to the Internet Identity, except you are using your identity from your StoicWallet. No private keys are ever exposed, and the “bridge” that is created only exists locally.‌

For more details, read the following article.

WTC Token

Wrapped Trillion Cycles (WTC) is a stable coin that can be traded or converted back to cycles to power canisters on the Internet Computer. You can manage WTC from StoicWallet.

The cost of Internet Computer computation is expressed in units of cycles, which can be bought with Internet Computer Protocol or WTC tokens. ICP tokens have an arbitrary value on the open market, so their value can fluctuate. WTC stable coin was created so that the market value does not affect the price of the cycles. In theory, WTC should maintain a stable value of 1 XDR and be used as a stable coin. XDR (or SDR) is an international reserve asset created by the IMF from various currencies, including the United States Dollar.

1 Trillion Cycles = 1000 Billion Cycles = 1 XDR = 1.43 USD

At the time of writing, it is currently worth $1.42USD and retains a relatively stable value.‌

Currently, WTC tokens can be exchanged for Cycles to charge the container. In the future, WTC tokens will be sold to exchanges that support WTC Tokens and paid for by other network services on Dfinity.

For additional information, please visit the WTC website and the following article.

EXT Token Tool

EXT Token Tool allows developers to deploy a wide range of tokens, from traditional fungible tokens to NFT's and more. EXT also allows multiple tokens (either fungible or non-fungible) to be created and managed within a single canister. This tool is available here. Read more about the EXT Token Tool standard here.

Upcoming releases by Toniqlabs

Above is a summary of the current ToniqLabs building dApp on Dfinity. In addition, ToniqLabs will also build an AtomIC cross-chain bridge on Dfinity. The atomIC bridge will allow users to move digital assets through different blockchains via a secure atomic transfer using smart contracts. Assets moved cross-chain will exist on-chain in Secured Reserve Contracts (SRCs) and can be reclaimed via a reverse atomic transfer in the future. For all of the reasons outlined in this article, it seems like ToniqLabs has a very bright future ahead on the Internet Computer ecosystem.


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  • Disclaimer: The views and opinions expressed on this website are solely those of the original author and other contributors. These views and opinions do not necessarily represent those of the Dfinity Community staff and/or any/all contributors to this site.

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