Decentralized Governance and DAOs/SecretLaunchPad -- YieldPay

[GoFundUST-Developer]

YieldPay

Project Description

YieldPay was built to use anchor's aUST yield generating token to pay beneficiaries. (formally known as gofundust.money)

We plan on moving this to SCRT, and use staking yield via Shade's liquid staking token to perform the same thing. This can protocol has a multiple use cases

• supporting content producers
• building a un-censorable platform to support fundraising.

We has been involved in the Terra & Secret Networks over the last year (we prefer to remain anonymous). Needless to say, we are really excited to see this project evolve.

Problem / Solution

We provide a great way to support individuals by utilizing staking yield.

Our proposed solution is 3-4 contracts.

• a Factory contract
• and a 'payment' contract which is instantiated for each beneficiary. (one for each type of yield)
• a NFT contract for badges (e.g.. 'I support XYZ', or 'I supported XYZ' )

Our solution is unique, as it utilizes staking yield, and thanks to liquid staking, the ability to instantly redeem (if the beneficiary allows it)

Detailed product description

each 'payment' contract would accept SCRT/sSCRT. on receipt it would call the liquid staking contract to 'stake' the SCRT, return a SNIP20 token (1:1 with SCRT).

on redemption it would redeem the the SNIP 20 token with sSCRT returning the tokens given.

the beneficiary/fee collector would have a 'redeem' function. It would calculate the exchange rate of the pooled sSCRT held, and determining the difference, and would send that amount to the beneficiary & fee account.

for the content producer version, they will be an ability for a dApp to check if the current user is supporting the fund/subscribed to the product so they can view the content. (There will be a modified contract that stores email addresses so newsletters can be emailed).

Go-to-Market plan

As go pay is a clear value proposition for existing SCRT holders, we hope to promote this effort within the Secret Network community, as well as crypto content producers.

Value capture for Secret Network ecosystem

The main KPIs for Secret Network is TVL (privacy value add to other blockchain ecosystems), number of transactions and number of user (for applications)

Team members

• GO Fund Developer - (will provide details in private if required)
• TBH - react developer

  Team Website

• https://yieldpay.finance - currently down, due to Terra de-peg.

Team's experience

• GoFund Dev has 20+ years coding experience, the last two years building several COSMOS smart contracts

Development Roadmap

We will require 6 months to complete this project. We intend to have 2 developers part-time, at a total cost of $50,000 (no audit fees included in this).

milestones:

• Port Factory contract to SCRT
• Port pool contract to SCRT. utilizing viewing keys + liquid staking contract
• Port NFT contract to SCRT. utilizing SNIP-721, and unique 'collection' ability to enable dynamic NFTs
• NPM packages so dApps can integrate it into their own frontends
• UI for users to find/list existing arrangements they are in so they can redeem if dApp disappears.

Ideally, we can receive payments in 3 disbursements, one at the beginning of the grant, one after implementation of the smart contracts and last payment when the development work is completed.

We would be willing to consider part payment in SCRTs, up to 70%.

Additional Information

N/A.

[JayScrtNetwork]

Thanks for this request. Please reach out to me via Discord =Jay | 𝕊hadowRealm🥷🏼ScrtBizDev#0086 Or telegram = @Longfellow21 So we can discuss and set up a meeting

[JayScrtNetwork]

Bumping this. Please reach out at your earliest convenience.

[GoFundUST-Developer]

Going through my first bout of COVID. Will send a friend request today

Sent from ProtonMail mobile

-------- Original Message -------- On May 25, 2022, 5:58 AM, Jason wrote:

Thanks for this request. Please reach out to me via Discord =Jay | 𝕊hadowRealm🥷🏼ScrtBizDev#0086 Or telegram = @Longfellow21 So we can discuss and set up a meeting

— Reply to this email directly, view it on GitHub, or unsubscribe. You are receiving this because you authored the thread.Message ID: @.***>

[JayScrtNetwork]

Sent to whom sir?

[GoFundUST-Developer]

to you jay.. about a month ago..I'll reping and get a call going

[JayScrtNetwork]

Can you reach out to me via telegram or discord. Hope you are feeling better

On Jul 5, 2022, at 11:27 AM, GoFund US(T) Developer @.***> wrote:

 to you jay.. about a month ago..I'll reping and get a call going

— Reply to this email directly, view it on GitHub, or unsubscribe. You are receiving this because you commented.

[JayScrtNetwork]

Due to market conditions, we cannot support this grant at this time.