Grabbit: Empowering Creators with a Cause-Driven NFT Marketplace on Cardano

1. Grabbit
Litepaper

2. Table of Contents
Abstract
Introduction
Platform Objectives
Technical Approach
Team & Developers
GRAB Tokenomics
Roadmap
Final Remarks
2

3. Abstract
3
It's accessible to anyone who wants to auction digital goods, regardless of their location
or background. Whether you're a buyer or a seller, Grabbit is the ideal platform for anyone
looking to optimize their digital goods. Grabbit is committed to be creator first, cause
driven, powered by engineering excellence.
Grabbit chose to leverage Cardano because of its scientific approach and meticulous
implementation process. Not only is it amongst the most decentralized and secure
blockchains, Cardano’s mission, vision and commitment to engineering excellence aligns
with our values.
Grabbit is an open and decentralized auction
marketplace aiming to be the ebay of Web3 for
digital goods.
All brand names and logos are the property of their respective owners, are used for
identification purposes only, and do not imply product endorsement or affiliation with Grabbit

4. Introduction
Grabbit is an NFT marketplace built on the Cardano blockchain. It aims to create a user-
friendly platform for buying, selling, and trading NFTs in a secure and decentralized
environment. Grabbit leverages the advanced features of Cardano, such as its smart
contract capabilities and low transaction fees, to offer an efficient and cost-effective NFT
marketplace.
Creator Focused
Grabbit is committed to building features that empower creators with improved
features and additional experiences. While there are some on the docket, Grabbit will
look to it’s community and creators for roadmap features through the DAO.
For a cause
Grabbit will start by donating 5% of it’s revenue from transactions to charity to help
provide art scholarships through The Guggenheim Foundation. Parameters and charity
will be DAO governed in upcoming Seasons.
Fully on-chain auctions
Grabbit uses Cardano's smart contract capabilities to enable users to create and sell
their NFTs, as well as participate in auctions and buy-it-now features, without
relinquishing control of their funds or assets.
User-friendly interface
Grabbit is designed to be easy to use, with a simple and intuitive interface that makes it
easy for users to navigate the platform.
Secure and decentralized
Grabbit is built on Cardano, a secure and decentralized blockchain that provides a high
level of security and immutability.
Low transaction fees
Grabbit leverages Cardano’s low transaction fees, making it an affordable platform for
buying and selling NFTs.
4
Grabbit offers the following features
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identificationpurposesonly,anddonotimplyproductendorsementoraffiliationwithGrabbit

5. Platform Objectives
5
All brand names and logos are the property of their respective owners, are used for
identification purposes only, and do not imply product endorsement or affiliation with Grabbit
1 Increase NFT activity on Cardano and introduce newcomers into
the Cardano ecosystem
2 Make selling digital goods a seamless experience by lowering
time to mint/list onboarding
3 Empower creators with new methods of selling and engaging
with their followers
4 Foster new era of talent by donating to charities selected by our
community
5 Be close to our community to listen for feature ideas and
prioritization

6. Technical Approach
6
We are proud to have built a fully on-chain auction protocol that is:
Fully trustless - can operate without dependence on any centralized actors
Fair & deterministic - no one can gain an advantage through luck or external influence
Fast & easy to use - issues like transaction failures and delays are actively minimized
and can be remediated
Efficient - uses a minimal amount of user funds & network resources
Scalable - can handle a potentially infinite number of bidders interacting with a single
auction simultaneously
Here’s a little more on how we did this
One of the fundamental challenges of working with Cardano’s eUTxO model is UTxO
contention. Put simply, only one transaction can use a given piece of data per block. The
Vasil hard fork added a much needed improvement, allowing a simultaneous reading of
data, but simultaneous writing is not possible, nor likely to be made possible in the near
future. This creates obvious problems for an auction protocol, which will see a rush of
bidders attempting to interact with the same auction at the same time.
Many projects across web3 have dealt with these problems with centralized solutions
such as transaction batching. Many others have maintained their decentralization at the
expense of ease of use and scalability. We have found a solution that provides the best of
both worlds.
We designed our auction mechanism around state threads, allowing each bidder to
interact with the auction individually, without contention or dependence on a centralized
service. Now everyone can bid at their own pace, without needing to worry about
whether their bid will count.
Not only have we made protocol scalable and decentralized, we have built in a rich
system of features to deliver on our goals, and are continuing to develop new features
and improve in scalability, efficiency, ease of use and more.
Allbrandnamesandlogosarethepropertyoftheirrespectiveowners,areusedfor
identificationpurposesonly,anddonotimplyproductendorsementoraffiliationwithGrabbit

7. Team & Developers
7
The leadership of the Grabbit team includes Michael Yagi, Taylor Yoon, and Christopher
Chung. Michael and Taylor worked at Fortune 200 companies as senior software
engineers which help set our bar for engineering excellence and Christopher has
experience as prior COO for top 3 coding bootcamp in the U.S.
Built by
Michael Yagi
Founder
prev. Tableau, 2K Games
Christopher Chung
Co-founder
prev. Coding Dojo
Mark T Smith
VP of Partnerships
prev. Intevity, Coding Dojo
Allan Deutsch
Dev Lead
prev. Microsoft
Cliff Garvis
Software Developer
prev. Launch Consulting
Eric Phan
Software Developer
prev. Salesforce
Jeff Uong
DevOps
prev. Samsung, Sima AI
Jiwon Kim
Designer
prev. Disney, Microsoft
Jonathan Rodriguez
Smart Contract Developer
prev. Alstef Group, Glidepath Group
Mike Morency
DevOps
prev. Abrigo, Second Nature
Sam Delaney
Smart Contract Developer
prev. SIL International
Sharon Huntington
Business Development Manager
prev. Pearson
Grabbit The Rabbit
Explorer
Mr.Peep
Sidekick
Allbrandnamesandlogosarethepropertyoftheirrespectiveowners,areusedfor
identificationpurposesonly,anddonotimplyproductendorsementoraffiliationwithGrabbit
Philip DiSarro
Smart Contract Developer
prev. Emurgo, WingRiders, Plaid
Taylor Yoon
Co-founder
prev. Tableau

8. GRAB Tokenomics
8
A detailed explanation of the GRAB tokenomics and ISPO will be released in the near
future.
Opportunities to earn GRAB tokens will be announced soon.
All brand names and logos are the property of their respective owners, are used for
identification purposes only, and do not imply product endorsement or affiliation with Grabbit

9. Roadmap
9
Seasonsishowwe’llbereleasingcontentandengagingwith
ourcommunity.Staytunedtolearnaboutseasondetails .
*WhatareGrabbitSeasons?
Allbrandnamesandlogosarethepropertyoftheirrespectiveowners,areusedfor
identificationpurposesonly,anddonotimplyproductendorsementoraffiliationwithGrabbit
Ourincentivedpublictestnetisaroundthecorner!Staytunedtooursocialsforpre
season*.
Ourauditisinprocessandwillbeannouncedshortly!
Launchwebsite
Launchlitepaper
Launchtestnet
TheWarmUp
BeginPreseason
Completeaudit
MainnetlaunchTarget
Season1*
AddedFeatures:
Featuredauctions
Freemints&gasfeecoverage
GrabbitEasterEggs
Improvedprofiles
communityvotedfeatures
Collaborationwithartists, brands, and
otherpartnersforexclusiveNFTdrops
andevents
Community Features
AdditionalPartnerships
Season2*
AddedFeatures
Improvedonboardingfor
traditionalWeb2 users
additionalpaymentmethods
communityvotedfeatures
Collaborationwithartists, brands, and
otherpartnersforexclusiveNFTdrops
andevents
Governance
Q2 2023 Q3 2023
Q4 2023
2024

10. Final Remarks
For more information on Grabbit:
10
Grabbit aims to become a leading NFT marketplace within the Cardano ecosystem by
providing a user-friendly, secure, and efficient platform for buying, selling, and trading
NFTs. With a dedicated and experienced team, unique technical approach, and strong
community support, Grabbit is well-positioned to succeed in the rapidly growing NFT
market and contribute to the ongoing success of the Cardano ecosystem.
Thank you for taking the time to read our litepaper. We look forward to sharing our
progress, updates, and future milestones with the community. For more information
about Grabbit, please visit our website, join our social media channels, and engage with
our team and community. Together, let's revolutionize the world of NFTs on Cardano!
Grabbit is an NFT marketplace built on the Cardano blockchain. It aims to create a user-friendly
platform for buying, selling, and trading NFTs in a secure and decentralized environment.
Special Thanks to MLabs for collaboration
& Frosty for Social Media and Community
Management
GrabbitNFT
grabbit.market /Grabbit /grabbitnft
Twitter
Website Discord Telegram
All brand names and logos are the property of their respective owners, are used for identification
purposes only, and do not imply product endorsement or affiliation with Grabbit unless stated otherwise