Understand the basics of the Cross Chain Ownership Protocol
The primary goal of the Cross Chain Ownership Protocol is to provide good-enough ownership data for ERC721 tokens on Ethereum to other blockchains, particularly to support blockchain based games. We believe in a multi-chain future, and are skeptical that bridging tokens between chains is the right approach for low-value assets used in gaming.
CCOP is a permissionless protocol that allows anyone to pay gas to update NFT ownership data across blockchains. At launch CCOP broadcasts ownership data to Polygon and emits events suitable for creating a subgraph. Future supported blockchains will be determined by community governance. Contributors of new data will be rewarded with a protocol token $CCOP-G. This is a non-transferable reputation token that gives the earning address voting power in the governance of the protocol. We expect to create a second $CCOP token to provide contributors liquidity for the value they bring to the protocol. Creation and disbursement of this token will be determined by the community of $CCOP-G holders.
CCOP is initially developed by 0xEssential. We're working on permissionless gaming for NFTs, hoping to bring interoperability of digital assets to the metaverse and blockchain-based gaming. We expect that blockchain-based games will not exist on Ethereum main - even as more throughput is added to the network, we predict that it will quickly be filled up with transactions that require the security of the main network. Games do not require that security, and so we're experimenting with various approaches to answer the question How can layer 2 or sidechain contracts utillize layer 1 assets? You might also be interested in alternative approaches to this problem, like our Meta Transaction Middleware approach.
0xEssential is developing a fighting game for NFT avatar projects Wrasslers - as we work to bring this game to market, we're encountering challenges that we suspect other blockchain-based games will also face. We're hoping to solve these technical, user experience and developer experience challenges in a decentralized manner that other game and metaverse developers can utilize.
The CCOP contracts are currently deployed on the Goerli network, with a Polygon child contract deployed on Mumbai. The contracts have not been audited. We're looking for some help designing protocol rewards and tokenomics, and are leaning towards a 2 token approach - $CCOP-G will be rewarded to contributors. This governance token is non-transferrable. A second token, $CCOP will be created to offer contributors liquidity. These will be tradable ERC20 tokens on Ethereum, giving protocol contributors an opportunity to receive liquidity for their contributions while maintaining their governance voting power.