DeFiCh / dfips

DeFiChain Improvement Proposals (DFIP) & Community Fund Proposals (CFP)
https://defichain.com
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CFP 2109-09: DeFiChain WebWallet (65 772 DFI) #61

Closed SantiagoDeFi closed 3 years ago

SantiagoDeFi commented 3 years ago

Overview

  1. Requester(s): [Santiago Sabater @SantiagoDeFi]
  2. Amount requested in DFI: 65 772 In order not to lose development time, we decided to put the CFP back on the calculation basis of 2.50€/DFI and bear the price risk.
  3. Receiving address: [dG8trh4x3c242oEdpHDFP63TWSto5t6CYU]
  4. Reddit discussion thread: [https://www.reddit.com/r/defiblockchain/comments/pkyssj/cfp_defichain_web_wallet/]
  5. Proposal fee (10 DFI) txid: [5d69be22b4d61673d308e4bcaeb232e45180d304573c2d8a9228c55a09469614]

I made three YouTube Videos to make this proposal more readable

  1. Explaining the whole proposal (reading is faster): Video01 (25min)
  2. Showing the current version of our web wallet: Video02 (12min)
  3. Showing designs of upcoming features: Video03 (5min) Feel free to choose!

Describe the purpose

DeFiChain is a great blockchain with an incredible community. But we still have a long way to go if we want to become a global player. We all need to do our part and add more diversity and faces to this ecosystem. A blockchain that has only a few wallets and hardly any collaborations and teams look small and weak. DeFiChain is still young but is currently more in adolescence. What we need now is another 10 strong community projects developing applications on the chain. I would like to contribute a part to this and to achieve this I have set up a team.

Team

DeFiChain should become bigger, more adult and more colorful. For this purpose, we will program the very first web wallet in the DeFiChain network. We want to pave the way to the Ethereum network by developing a wallet that will be familiar to Ethereum users and by enabling an alternative to atomic swaps. In addition, web wallets bring with them the feature that they can be integrated into websites very easily and in a user-friendly manner. We will release a library so that every website can integrate our web wallet and we will actively cooperate with Decentralized Finance Exchange. In doing so, we will make the web wallet open source and available for free.

Development phases Note:

Alpha (done) 1.1 Design 1.2 Sending 1.3 Receiving 1.4 HD-wallets & BIP39 mnemonic seed 1.5 Support of community generated tokens 1.6 Multiple accounts. 1.7 History 1.8 Full DEX usability

Beta 2.1 Liquidity Mining 2.2 Hardware wallet integration 2.3 Update due to DeFiChain Development 2.4 DFX implementation

Gamma (next CFP round) Additional features (planned for next funding round, can be adjusted, denied, exchanged to others)

Additional services:

How will the fund be spent?

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The entire development will cost around 100.000-150,000 DFI.

This is only possible because of the preliminary work of Dominik and Patrick. We have constantly received support and resources from them and can hereby confirm that Dominik and Patrick share their resources, those of the community, and thus were able to make our project significantly cheaper. Secondly, we are using the Jellyfish library for our web development which in the beginning was not easy, because the library is still in development.

In total our project is cheap but at the same time, we will apply for the biggest funding so far. This is due to the following reasons:

- We will apply for only two funding’s to realize the whole development

- The current DFI price is low

Due to the fact, that we already paid around 30.000$ up front, we will use the first funding to get our costs back and finance the next development phase. After this is done, we will pay the third development phase with the second funding.

Note: It may be possible, that we are going to ask for more fundings in the future, if the community decides that they want more features to be developed. I want to keep this open if community members come up with great ideas.

Here is the calculation:

FUNDING NR. 1 | € | DFI -- | -- | -- Sprint 1 |   |   Development expenses | 22.200 |   Legal expenses | 5.899 |   Total (2,42€/DFI – fest) | 28.099 | 11.597   |   |   Sprint 2 |   |   Development dexpenses (2,50€/DFI)| 34.596 | 13.838 Legal expenses | 4.200 | 1.680 Total | 38.796 | 15.518   |   |   Additional costs | | Buffer | 10.000 | 4000 Project management | 37.500 | 15.000 Compensation investors | 30.461 | 12.184   |   |   Total | 144.856€ | 65.772DFI 58.300 DFI *price recalculation canceled*

 

Note: If the buffer results in a surplus, it will be offset against the second funding round, so we will apply for less.                          

FUNDING NR. 2 (worst case) | € | DFI -- | -- | -- Sprint 1 |   |   Development expenses | 96.000,00 |   Legal expenses | 4200 |   Reserves for maintenance | 25.000,00 |     |   |   Total | Max. 125.200€ | 50,080 DFI |

 

Note:

-          Total funding is approx. 25% higher than originally planned, due to lower DFI price.

-          If the DFI price changes, we will adapt the calculation.

-          Compensation of the investors will not be sold. Our investors are long time hodler.

-          Total DFI that will not be sold: 27.184

-          The second proposal will not include any profits for the project management and will not allow any investors to be participated.

-          Please consider that we are going to pay taxes

### How does this CFP benefit the DeFiChain community? ### If you decide to support us, we will be able to release another wallet in the space that can work independently from the previous teams. A wallet with about 10 people actively working on it. A wallet where we can decide what happens next. A wallet that is 100% fully paid by the community and only examines, what the community wants to be examined! You want an iOS App? We will present you a plan and realize it. You want a bridge to a specific network? We will figure out the options. And here is why: I am on your side. I do not have to justify myself when problems arise at the programming level. Either we get our team to fix it, or we get our money back and hire someone else who can do the job. We do not have to wait for there to be enough motivation for someone to tackle a problem. We trust that our team is competent and will continue to be interested in receiving orders. If the wallet project is finished, the team is still available to the community for new projects. We already have a lot of things in mind, but we do not want to dictate everything. You want us to realize something specific? Then suggest it and we will see if the community agrees! You can also participate and start organizing with me together. The only requirement is that you are 100% motivated, reliable and have a great idea. We have enough capital through our community fund, which is overflowing and a great developer team, that can program almost everything for us. The scarce good are not programmers or money, but time. I wish that we will see some more exciting projects until the end of the bullrun. ### My tasks ### Every task that is mastered must be defined. I take care of managing the whole project. This currently includes: - Technical realization: I take care that the developers get all the information and contacts they need. I hold meetings where I go into technical details and plan and discuss the implementation with the team. Of course, this aspect also included finding a suitable team of developers first. For this alone I needed more than 6 weeks, held countless meetings and conversations. - Legal aspects: I make sure that each party involved is covered. It is important to make sure that the developers, the investors and also me are legally satisfied. This means that I have drafted contracts with lawyers, explain situations, consider solutions and review contracts before they are signed. Again, I needed specialized lawyers and tax advisors who know crypto. - Design: Every single feature that is developed needs a vision. I therefore made sketches, gathered information, compared products and finally made whole parts of the UX to reduce costs. - Investors: Even though $30,000 is not too dramatic a number, it is not easy to find people you want to work with and who are willing to provide enough capital. This involved meetings, conversations, explanations, and weighing the needs of our investors. - Communication: I am responsible for ensuring that all parties synergize with each other and that the process runs as smoothly as possible. - Funding: I am responsible for the hole project financing and community work, to achieve a successful funding. These tasks will come back to me at each stage of development. Some will no longer be necessary; others will be added. I cannot say exactly how many hours per week I spend on this, as it is quite irregular. But in the development of the alpha phase, it was about 25-30 hours per week. In addition, I have also provided money for the wallet and have included a small premium for me, due to the risk I have. ### My last thoughts ### However, I have been thinking about it a bit in the last few days, and I am afraid that some users might too quickly take the position that we do not need another light wallet. I want you to remind, that a key puzzle of a decentralized ecosystem is, that there is no central entity. We want to have a variety of developers, building the same applications with different approaches. We know that the foundation developed a fantastic light wallet as well and I have a tremendous respect for U-Zyn. He might be the biggest brain in our community, and I guess that the core development team is the one, we most trust. New users might think different. They do not know the core development team, might feel better with an alternative product. Maybe, we will be able to provide a better-looking wallet, with more details and love, just by the fact that the core development team has trillion other things to do. We do not know yet. But what we know, is that variety and competition lead to better products. We just want to add another piece of the puzzle. And after that, another one. DeFiChain-Explained will not be neglected in the process. I currently work full time for YouTube, DeFiChain-Explained and the WebWallet. We are actually ahead of our roadmap for defichain explained and added a big new side project to it: A community-based blog. We are also using funds from the CFP of DeFiChain-Explained to encourage other community member to invest their time in DeFiChain-Explained. Regarding to the defichain-analytics, we have 18.945.274 DFI in the fund. Let us try it and invest 0.591% into another wallet & development team. Thanks for taking the time and reading up to here, I really appreciate it.
4oi5n commented 3 years ago

signmessage 8U6NBMrQjtCbiUf5YQ8UoiB6CRFyyHa9Qj cfp-2109-09-yes HyQgeWQgWsDvOc7Ei3jL0HgxNvSHtAjf2zduqmCCmptxPfrvtxHPrNYPsdX+NAbOZ+MjYwJ8w7fjd/teikGRgzo=

derstrecker commented 3 years ago

defi-cli signmessage 8JcvCqCPJ5ZsaWNhedB4NvxU6nVzCtdHiB cfp-2109-09-yes IEsEdxZ6/HK0ELEzHrOLQd9rKrr4X8TARzQ51lF1MIHjRCp4q3JIfLTGuKk3K9gG/Z9+uWy3PGKULQe6f8domxM=

UserMaxL commented 3 years ago

signmessage 8UmV4yLvZjj81QzE5EMdYH3mC3rvxLmEkb "cfp-2109-09-no" IPcJtrJ6zumiSod9/hO2+N/aSseCjRJFHDWPfx9FQSIrWBh9aJaYMit09+yFHJFwdTR+op3kCQE9WxbkwBBR8vQ=

signmessage 8RHZQZFJ4q4Jay62WQjS4rYSJuYswLuZ1b "cfp-2109-09-no" H4+dCPvK3Mem/F8HNqj+0LK+UAV9VpHVtr0IP7jYSbV/Rfly4yias4+gBgswNV6SRu1dCDnph8rOy0kbPgPzQWY=

signmessage 8UoqeYej9Tg7iGvkxjBaBqAP8xipvRhxuQ "cfp-2109-09-no" IPokvrBE2REs9iPpo0dR54nCpc12CBFGy/VQxmE1/dt9KohhJKWYir0flVPI9gyC4upmMYpp9+aAXl6MCsA+F5c=

signmessage 8NXbaKpEy3sNmrjc6bbiNE2RaVyMk4kh54 "cfp-2109-09-no" IL3FlyRdYYhb+mIJPy2423m1LrvTyyfOOKshuHXZaXuSCunpafX6eGMm2fpkDrVsA/Bn0LYqll11MufvMnB2wMQ=

signmessage 8JC3tbEgpL4qsviPeK6EMTUWntpwXGKesC "cfp-2109-09-no" IMDQYomJu1j/kZWAd7OdUMOaRh+pO5z5SGA6N56oLbNmKFpvSZav5dqxB9kB5jM0G1IdpWiCCUwXKw4i0nT4LnE

surangap commented 3 years ago
RESULTS for cfp-2109-09
===========================
cfp-2109-09 is approved by 25 votes majority
YES: 249
NO: 224
Neutral: 1
Total valid votes: 474
Total rejected votes: 11
===========================

Invalid format or vote message for vote: signmessage 8dJLcKddBnwXzzXBLeZLYqzHehfeB8UWa2 "cfp-2019-09-no"
Invalid format or vote message for vote: signmessage 8JgPSdyFpLTG1wAnxFHpuHjEoSmPBhHccg "cfp-2019-9-no"
Verify message failed for "defi-cli  verifymessage 8PTEQ8DBmNi3hDtA6T1ANTP6EUdqQPZqHX IMGrz/aaALTdOD/7boTRFblLNMr7oLum47rMyd6FoE+bZv1MZhUg/bglAzVJpdW4Oi/PuoovQwcjkWvaj8n6TZQ= "cfp-2109-09-no""
Invalid number of mintedBlocks: 0, masternode: 8X9mSBVoeFfsk7XyAJmYCGu4SgrQzMj7Ud for "defi-cli  verifymessage 8X9mSBVoeFfsk7XyAJmYCGu4SgrQzMj7Ud H+n5Y3WcIulpj1JUf6PLL245Al05oB8luRgYs9WrCcN0ISKKT4SsidKOUykPvvkYTYbEWS28EHEbBB7D6TUg5fI= "cfp-2109-09-yes""
Verify message failed for "defi-cli  verifymessage 8JC3tbEgpL4qsviPeK6EMTUWntpwXGKesC IMDQYomJu1j/kZWAd7OdUMOaRh+pO5z5SGA6N56oLbNmKFpvSZav5dqxB9kB5jM0G1IdpWiCCUwXKw4i0nT4LnE "cfp-2109-09-no""
Invalid format or vote message for vote: signmessage 8NvE9Uzkq31iPQnTBFAAKmN5YkCaxbByZc "cfp-2109-9-yes"
Invalid format or vote message for vote: signmessage 8GQuQhRTKTcGgw8nSMnQmqLJWmZ2zoaorq "CFP-2109-09-yes"
Invalid number of mintedBlocks: 0, masternode: 8HJGgMQR8rS9ZaLiWsRwJSmgvComw6AmDK for "defi-cli  verifymessage 8HJGgMQR8rS9ZaLiWsRwJSmgvComw6AmDK H/XwRvHnhAwudONEVS1JH2FcNLy2RLcLzrBEB2HCOUcFWfsRHs4GN879D/Igz5at/XK07qwAG23vdFgPgsEEYSM= "cfp-2109-09-yes""
Duplicate vote. masternode: 8QV6uLzeDQdWik5BDipRhbEHAM7fTvqXhm for "defi-cli  verifymessage 8QV6uLzeDQdWik5BDipRhbEHAM7fTvqXhm H51S2U0u5ANkDWBZ74bqB0APPJI+CgVHRl27lZu1AVpZUq0Et6wDmvsRoH2Qhnt9U3SP03UZz6IjIul4yiYnXGk= "cfp-2109-09-yes""
Invalid format or vote message for vote: $ defi-cli signmessage 8XQQ2HUPR2uy6S7VbGBBtCmQNture7XPvQ cfp-2109-01-yes
Invalid format or vote message for vote: $ defi-cli signmessage 8eLydM42kR12cSBmUq1V6RkVARYp2ZaubS cfp-2109-01-yes
Invalid format or vote message for vote: $ defi-cli signmessage 8bd3uKBxboBDQqpfGc8en9GuTVyt2GcF4C cfp-2109-01-yes

mnstate_validate.log validate_cfp-2109-09_failed.log validate_dfip.log

uzyn commented 3 years ago

Payouts made: