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stacksgov / decentralized-grants

Community-driven funding for Stacks: Empowering innovation in the Bitcoin ecosystem.
https://degrants.xyz/
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Minera - Liquid mining app - Joe M. #16

Open Hero-Gamer opened 4 months ago

joemacmillan6 commented 3 months ago

1) Total grant amount: $565

2) Project Description:

Minera is a decentralized mining pool for Stacks. We are looking to promote the security of the Stacks network by participating in the Proof-of-Transfer as a miner while offering investors an opportunity to monetize Bitcoin as an asset to earn a rate of return passively. Minera lowers the barrier to entry in Stacks mining by pooling Bitcoin together from investors that otherwise would have not been able to as the capital to mine Stacks is high.

3) Impact:

Minera increases decentralization and security to the Stacks network. A new miner will increase competition amongst existing miners which results in competitive bids and higher stacking rewards. As a decentralized mining pool, we are looking to contribute to the community with everything related to Stacks mining as currently there is a lack of data in this space. We are looking to fill this gap in addition to becoming a miner. Furthermore, the opportunity to generate passive income on Bitcoin is a great opportunity to attract new users to Stacks.

4) Project Timelines, Milestones, Deliverables:

Kick-off payment: 0% - $0

Milestone 1: 50% - $282.50 - September 1, 2024 Deliverables: Set up and sync Bitcoin and Stacks nodes Set up test mining pool

Milestone 2: 50% - $282.50 - September 30, 2024 Deliverables: Create a website and provide and maintain STX mining data on a dashboard

5) Is / will this project be open-sourced? Our protocol and website will be all open sourced. Our "bidding" algorithm will be private for competitive reasons with other miners

6) ZeroAuthorityDAO profile link: https://zeroauthority.xyz/profiles/SP23ZSH34VFD9WC6FVWYNKJAVME1SN89ZWHHR5NCC

joemacmillan6 commented 1 month ago

Syncing of Bitcoin and Stacks nodes complete, below is the output of Bitcoin and Stacks newest block synced up to the block tip.

<20443/v2/info | jq '.burn_block_height, .stacks_tip_height'
864604 864604 168877 stacks1@stacks-node-01-clone:~$ exit

Hero-Gamer commented 1 month ago

Hi @joemacmillan6

Are you on track to completing the grant by end of Oct? Please post updates.

joemacmillan6 commented 1 month ago

We are unfortunately not on track to complete by end of Oct but still progressing

Hero-Gamer commented 1 month ago

What's are expected dates of completion for all milestones?