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Small Grants: TradeRep dApp #9

Open kiv1n opened 2 years ago

kiv1n commented 2 years ago

1. What is your project? (max 100 words)

TradeRep is a decentralized application that helps investors and beginners save money and time by filtering good traders from scammers.

Filtering is based on reputation, which everyone can earn by posting and verifying their own market forecasts with a smart contract.

2. How is Lit used for this project? (max 100 words)

Lit Protocol is used to encrypt and decrypt the content of forecasts. This feature gives traders the ability to securely sell their own forecasts.

3. How will you improve your project with this grant? What steps will you take to meet this objective? (max 200 words)

I built a prototype at the ETH hackathon. Now I need to improve the code (UI/UX, features) to get the early adopters interested.

Your grant will help me focus on the project and test the idea faster.

4. Is this project open source?

Yes, MIT.

5. Do you agree to share grant reports upon request, including a final grant report at the end of the two month period?

Yes, I agree.

6. Links and submissions

7. Total Budget Requested

Additional questions:

kiv1n commented 2 years ago

I've updated the demo. Now it looks better ✨

🔗 https://traderep-app.vercel.app/

kiv1n commented 2 years ago

The project also took third place in the Web3 Infinity Hachathon recently (FIL-Singapore ‘22 Summit) - https://twitter.com/force_ipfs/status/1562028169179279360

debbly commented 1 year ago

Awesome, @kiv1n can you give an update on your project and do a breakdown of what the funding will be used for?

kiv1n commented 1 year ago

@debbly thanks for your reply.

Now I'm building an MVP where traders can earn a reputation by posting public forecasts. I'm also gathering a private club with early adopters to test all features and ideas.

If the feedback is positive, I plan to release the app on Polygon Mainnet.

With your grant, I will be able to invite second developer, who will integrate Lit Protocol to MVP. This integration will allow traders to post private encrypted forecasts and sell them to everyone.

For the second developer I need 1500-2000 USD.

Together we can release an app in mainnet with public and private encrypted forecasts at the end of this year or early next year.

debbly commented 1 year ago

Awesome, checking out the TradeRep repo, I see this diagram which explains how Lit would work with the application. This has not been built out, yet and the funding would support this?

kiv1n commented 1 year ago

Yeah, you're right.

kiv1n commented 1 year ago

@debbly we changed the key idea of the project a little bit. What matters now is not the reputation of traders, but the bets between web3 enthusiasts about the future.

In the new concept, anyone can publish a bet on the blockchain and invite opponents. After a while, any participant can determine the winner using contact and real data from oracles.

Smart contract takes a part of the winnings from all bets and share it among the top successful accounts. That way people will be more motivated to create and participate in bets.

Also bets generate a very useful datasets to explore the trend of expectations and people's mood. This analytics tool will be useful for anyone interested in blockchain and cryptocurrencies.

The project is currently under active development. And we want to add features for closed group chats. For example, a web3 influencer can have a private group chat only with those people who participate in its bets. That way, Influencer followers will be more willing to engage in bets.

You can see this idea in the images below.

With your 2000 USD grant, we will have the opportunity to develop this feature with private chats and Lit Protocol integration before release on mainnet.

These are our actual links:

screen-account-private-chat-not-available screen-account-private-chat

debbly commented 1 year ago

Hi @kiv1n, at this time we are not funding access control integrations. The purpose of the grant is to fund open source tooling that extends Lit, with our main focus on Lit Actions / PKPs.

Is there a potential use case for this project with Lit Actions and PKPs? You can read more about them in our docs: https://developer.litprotocol.com/coreConcepts/LitActionsAndPKPs/intro