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Archive of past Stacks Foundation grant applications. Historical record of ecosystem development.
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Delegated Borrowing - Phase 1 #648

Closed scott4044 closed 2 years ago

scott4044 commented 2 years ago

APPLICANT

Type:                                                                        Direct Application

Email:                                                                    scott@bitbasel.miami

Discord:                                                    scott4044

Twitter:                                                        scottspiegel_12

Stacks Forum:           

GRANT BASICS

Grant Name:                                        Delegated Borrowing - Phase 1

Total Budget:                               $25,000

Total Duration:                 335

Grant Type:                                               Open Source Dev Repeat Grantees

Grant Track:                                          Stacks dApps & Clarity

Grant Goal:                                               Create New Technology

Grant Audience:             Developers

Specific Audience:         Developers building products for NFT Issuers and Users

Grant Team:                                       scott4044, jeremyjs

Previous Grants:                      https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/572

Ecosystem Programs:      BitBasel just completed the Web3 Start-up Lab on and is applying to the Stacks Accelerator program. We are creating an innovative NFT utility protocol called "delegated borrowing", to enable developers to create new applications for NFT owners to rent the utility of their NFTs in exchange for $STX

GRANT MISSION, IMPACT, RISKS & REFERENCE

Grant Mission:          New and novel:

Delegated lending has not been launched on the Stacks network. We are the first team to bring this innovation to the Stacks NFT ecosystem as an open source project.

How the Stacks community will benefit:

All Clarity developers will benefit from the ability to easily integrate delegated lending into their Dapps. All Stacks NFT holders will benefit from the option to rent out their NFT for $STX.

Grant Impact:               ROI: Developers – Save time and resources building Dapps w/ renting ability . Key Metric: # of apps built on protocol

ROI: End-user – The key metrics to track are the # of Stacks NFTs that leverage our delegated lending protocol and the total $STX revenue of NFTs borrowed using the protocol

Grant Risks:                          We want to mitigate the impact of race conditions on borrowing based on the Stacks transaction and block state computation and finality model.

DevX: We want to ensure our protocol hits our key metrics of onboarding developers to our protocol and unlocking the $STX rental potential of Stacks NFTs.

[Support Link:](https://stardust.pizza/ , https://www.loom.com/share/92fbcdf544614ff988a6d3222054656d, https://docs.google.com/document/d/1Mxct6WEBN0JKp37V2IzG0L_YrQaxY-tFLKCn78SHVnI/edit?usp=sharing )                                     1) Prototype of Delegated Lending protocol in production on the Terra blockchain network

2) Link to a Loom share demoing the Rental process

3) Link to document outlining Phase a - d details

GRANT ROADMAP & DELIVERABLES

MILESTONE 1:

Deliverable:                   Phase Deploy a Public Authority for Delegated Lending on the Staging Network -- 1.a-d. Discovery & Project Setup // Development, Documentation & Polish

MILESTONE 2:

Deliverable:                   Phase Deploy an Indexer for the Delegated Lending Public Authority - 2.a-d. Discovery & Project Setup // Development, Documentation & Polish

FINAL DELIVERABLE

Deliverable:                   Deploy a Public Authority for Delegated Lending on Stacks Staging Network & Deploy an Indexer for the Delegated Lending Public Authority

stacks-foundation commented 2 years ago

👋 @scott4044
Thanks for your application! We will do a pre-review and let you know if we have any immediate questions. In the mean time please refer to our review schedule here for a detailed timeline and response dates.
Best, Will

Albert-Present commented 2 years ago

Super Job Scott and Team!

This is going to bring more liquidity and new users to Stacks NFT communities as well as bring on new Stacks users because the temporary transfer of value/power in a utility NFT, without giving up your NFT, will unlock new Web 3.0 startup business models on Stacks and Bitcoin! Stay tuned :)

jeremyjs commented 2 years ago

Very excited to build out core infrastructure for NFTs that will unlock a lot of value for existing and future NFTs on-chain, and on Stacks in particular. Not only for existing artwork and memberships, but also for real-world asset rentals. In addition, we envision this ground work resulting in much collaboration on indexers, SDKs, and frameworks for all existing NFT infrastructure.

will-corcoran commented 2 years ago

Hi @scott4044 -

Thank you for your application. As the Grants Review Committee begins their reviews this week and next, we wanted to reach out and see if there is potential to rescope the size of your grant request. Given the projected outcomes of your project compared to cost and the competitive applications in this review batch, this grant is not likely to get approved at it's current size and deliverables. As of now, we have funding for 40-50% of the applications received. If you would still like to be considered in this round, we recommend rescoping your proposal to a lower amount that closer reflects the industry standard of $75/hr.

Lastly, when we kicked off the review cycle with the Review Committee we brought them up to speed on the top three objectives we are prioritizing for this cohort:

  1. Support grants that improve Stacks-Bitcoin integration.
  2. Support grants that improve the Clarity developer experience and attract new Clarity developers to Stacks.
  3. Support grants that improve the attractiveness of Stacks as a place to build for founders and attract founders to Stacks.

If you could, please comment here if you feel your project is consistent with one or more of these objectives and let us know how and why.

Thanks! Will

diegomey commented 2 years ago

Scott and the BitBasel team are not only active #irl with boots on the ground but also an active web3 community online, and I strongly support tools that will expand NFTs utilities and help artists/builders out there, and "delegated borrowing is a great place to start!

bjuliarso commented 2 years ago

Scott with his team are extremely active during WSL, and its really a great idea to submit your Grant application as that is very important for the BitBasel, and we all giving fully support to Scott to make sure your project BitBasel will be a succesfull project.

scott4044 commented 2 years ago

Hi @scott4044 -

Thank you for your application. As the Grants Review Committee begins their reviews this week and next, we wanted to reach out and see if there is potential to rescope the size of your grant request. Given the projected outcomes of your project compared to cost and the competitive applications in this review batch, this grant is not likely to get approved at it's current size and deliverables. As of now, we have funding for 40-50% of the applications received. If you would still like to be considered in this round, we recommend rescoping your proposal to a lower amount that closer reflects the industry standard of $75/hr.

Lastly, when we kicked off the review cycle with the Review Committee we brought them up to speed on the top three objectives we are prioritizing for this cohort:

  1. Support grants that improve Stacks-Bitcoin integration.
  2. Support grants that improve the Clarity developer experience and attract new Clarity developers to Stacks.
  3. Support grants that improve the attractiveness of Stacks as a place to build for founders and attract founders to Stacks.

If you could, please comment here if you feel your project is consistent with one or more of these objectives and let us know how and why.

Thanks! Will

Hi Will,

We have updated the project scope to reflect a budget of $75/hr for Clarity smart contract development.

Regarding the objectives for this grant cycle , please see answers below:

  1. Support grants that improve the Clarity developer experience and attract new Clarity developers to Stacks. Our protocol will entice blockchain developers to innovate and develop of Delegated Borrowing to unlock new features and use-cases for the ecosystem
  2. Support grants that improve the attractiveness of Stacks as a place to build for founders and attract founders to Stacks. Our protocol will entice Web3 founders to innovate and build on top of Delegated Borrowing to unlock new features and business models for Stacks start-ups

Please let us know if you'll need any further information from our team.

jeremyjs commented 2 years ago

Hi @scott4044 -

Thank you for your application. As the Grants Review Committee begins their reviews this week and next, we wanted to reach out and see if there is potential to rescope the size of your grant request. Given the projected outcomes of your project compared to cost and the competitive applications in this review batch, this grant is not likely to get approved at it's current size and deliverables. As of now, we have funding for 40-50% of the applications received. If you would still like to be considered in this round, we recommend rescoping your proposal to a lower amount that closer reflects the industry standard of $75/hr.

Lastly, when we kicked off the review cycle with the Review Committee we brought them up to speed on the top three objectives we are prioritizing for this cohort:

  1. Support grants that improve Stacks-Bitcoin integration.
  2. Support grants that improve the Clarity developer experience and attract new Clarity developers to Stacks.
  3. Support grants that improve the attractiveness of Stacks as a place to build for founders and attract founders to Stacks.

If you could, please comment here if you feel your project is consistent with one or more of these objectives and let us know how and why.

Thanks! Will

Hello @will-at-stacks,

In addition to building our core public authority/utility layer, we will also be publishing developer documentation and high quality tutorials that we hope will provide a great resource for beginning to medium difficulty for developers to up-skill with Clarity and Dapp development on Stacks. For example: Building small but impressive marketplaces for borrowing digital artwork to display at an event, or borrowing a membership pass in order to attend an event as a stand-in, as well as showcasing more futuristic use cases (which could be theoretically be achieved today) such as borrowing a home for the weekend, or borrowing a drone from a drone fleet, etc. etc. We also hope to get more feedback from other developers on the possibilities for even more exciting use cases for these public authorities, and have already begun introductory discussions with i.e. @setzeus in that regard.

JakeBlockchain commented 2 years ago

Just met with Scott. This delegated borrowing feature can be a fantastic primitive for other devs to build from. +1 to this grant app.

will-corcoran commented 2 years ago

Hi @scott4044 -

We have identified the projects we will be awarding grants as part of Stacks Foundation Grants Program Cohort 18. I'm sorry to have to inform you that your project was not among those selected.

This is no way means that we do not see the value of the work you proposed. We're lucky to have so many talented independent researchers, developers, and community leaders like yourself building on Stacks. Unfortunately, we receive many more proposals than we can actually fund with our limited means, so competition is extremely tough. While we generally support innovation in all forms, we tend to prioritize projects that have the potential to advance and differentiate the broader ecosystem from other blockchains, as well as projects that meet critical needs of the community at the time. These constraints mean that in several instances, several excellent projects may not make it into a cohort.

We very much appreciate the time and effort you've put into this process and encourage you to continue watching this repo and consider submitting a new application if and when you feel your project better aligns with the current priorities of the Grants Program.

If you should have any questions, please let us know in the comment section below.

Best, Will Stacks Foundation Grants Program Manager