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Archive of past Stacks Foundation grant applications. Historical record of ecosystem development.
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Cross-Chain NFT bridges #661

Closed kofif1 closed 2 years ago

kofif1 commented 2 years ago

APPLICANT

Type:                                                                        Direct Application

Email:                                                                    ilan.klein1@gmail.com

Discord:                                                    kofiko#3975

Twitter:                                                        @OpenArtSource1

Stacks Forum:           

GRANT BASICS

Grant Name:                                        Cross-Chain NFT bridges

Total Budget:                              25,000

Total Duration:                 250

Grant Type:                                               Open Source Dev 1st time Grantees

Grant Track:                                          Cross-Chain & Off-Chain

Grant Goal:                                               Improve Existing Technologies

Grant Audience:             End Users (Consumer)

Specific Audience:         NFT collectors, NFT collections

Grant Team:                                       kofif1, venustar1228, dream-well

Previous Grants:                      My company developed an Oracle AI and received a grant for that from Stacks and Chainlink

Ecosystem Programs:      I was accepted to the Stacks first accelerator.

GRANT MISSION, IMPACT, RISKS & REFERENCE

Grant Mission:         The future of Web 3.0 is a Cross-chain one. We believe that the future of the NFT market is a Cross-Chain one. Right now, most of the transactions and liquidity happen on Ethereum. But we are all aware of all the problems and challenges of Ethereum. We built a bridge that allows Collectors to move their NFT from Ethereum to Stacks and Vice versa. The bridge will allow STX and other smaller chains to poach collections and collectors from Ethereum by offering them the advantages of low gas fees, tighter communities, and the security of the Bitcoin Blockchain. it will allow the collectors and collections to move their assets to where it is the most profitable to buy or sell them. The bridge has three main use cases:

  1. Fro chains - Poach collections and collectors from Ethereum. Bringing more assets and liquidity to STX.
  2. For collections - The ability to drop NFT on different chains and create a bigger, more diverse multi-chain community, sell more NFTS on different chains.
  3. For collectors - The bridge allows collectors to monetize their NFTs wherever it is more profitable to them. Buy your NFT where it is the least expensive, and sell your NFT where it has the most value, It is a use case that is similar to FOREX. Stacks will benefit by being the first to offer the bridge to its collections, Grow the number of collections on its platform, and the liquidity of the NFT market on its chain.

Grant Impact:               The number of collections migrating from Ethereum or other chains. The number of NFT transactions on STX The number of collections launching on STX as part of a Multi-chain launch.

Grant Risks:                          We already built and secured the bridge. There are fewer challenges in delivering this bridge on STX than on other chains.

Support Link:                                     This is the testnet bridge. You have to have testnet Arties, testnet Stacks and Testnet ETH in order to use it. I can demonstrate the bridge working of you are interested in seeing an NFT moving from ETH to STX.

GRANT ROADMAP & DELIVERABLES

MILESTONE 1:

Deliverable:                   Provide a way to move more than one NFT at a time.

MILESTONE 2:

Deliverable:                   Security Audit for new features, Deployment on Mainnet.

FINAL DELIVERABLE

Deliverable:                   ETH-STX Cross chain NFT bridge. Secured and deployed on mainnet.

stacks-foundation commented 2 years ago

👋 @kofif1
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

will-corcoran commented 2 years ago

Hi. Just starting reviews. Is this your previous Stacks grant? https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/171

If not, can you link to the correct one? Thanks

will-corcoran commented 2 years ago

Is this your previous grant? https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/171

If not, please send correct link.

kofif1 commented 2 years ago

Hi, Will. Yes. This was Open Art Source grant for creating the Machine Learning Oracle.

Best Ilan

On Sat, Sep 10, 2022 at 1:35 PM Will Corcoran @.***> wrote:

Hi. Just starting reviews. Is this your previous Stacks grant? #171 https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/171

If not, can you link to the correct one? Thanks

— Reply to this email directly, view it on GitHub https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/661#issuecomment-1242773796, or unsubscribe https://github.com/notifications/unsubscribe-auth/ALUKWGKV432VQOLNMB6MZDTV5TBFTANCNFSM6AAAAAAQARS3LE . You are receiving this because you were mentioned.Message ID: @.***>

kofif1 commented 2 years ago

Hi, Will. We prepared a video and a deck for the Bridge. Is it possible to add it to the application? If so, how do I do so? Thanks Ilan

On Sat, Sep 10, 2022 at 6:31 PM Ilan Klein @.***> wrote:

Hi, Will. Yes. This was Open Art Source grant for creating the Machine Learning Oracle.

Best Ilan

On Sat, Sep 10, 2022 at 1:35 PM Will Corcoran @.***> wrote:

Hi. Just starting reviews. Is this your previous Stacks grant? #171 https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/171

If not, can you link to the correct one? Thanks

— Reply to this email directly, view it on GitHub https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/661#issuecomment-1242773796, or unsubscribe https://github.com/notifications/unsubscribe-auth/ALUKWGKV432VQOLNMB6MZDTV5TBFTANCNFSM6AAAAAAQARS3LE . You are receiving this because you were mentioned.Message ID: @.***>

will-corcoran commented 2 years ago

Hi, Will. We prepared a video and a deck for the Bridge. Is it possible to add it to the application? If so, how do I do so? Thanks Ilan … On Sat, Sep 10, 2022 at 6:31 PM Ilan Klein @.> wrote: Hi, Will. Yes. This was Open Art Source grant for creating the Machine Learning Oracle. Best Ilan On Sat, Sep 10, 2022 at 1:35 PM Will Corcoran @.> wrote: > Hi. Just starting reviews. Is this your previous Stacks grant? #171 > <#171> > > If not, can you link to the correct one? Thanks > > — > Reply to this email directly, view it on GitHub > <#661 (comment)>, > or unsubscribe > https://github.com/notifications/unsubscribe-auth/ALUKWGKV432VQOLNMB6MZDTV5TBFTANCNFSM6AAAAAAQARS3LE > . > You are receiving this because you were mentioned.Message ID: > @.***> >

Hi @kofif1 you can post an accessible link to the documents / files in the comments (here) or modify your application above and post it there. Thanks, Will

kofif1 commented 2 years ago

Here are links to a transaction video and our deck. https://drive.google.com/file/d/1WgkOJK2e864u7c9lea50Mby92SUu3j5G/view?usp=sharing https://drive.google.com/file/d/1TEo_hqS5AC-uSsOQH8LUWGEKXiub7w6M/view?usp=sharing Let me know if you have any questions. Ilan

will-corcoran commented 2 years ago

Hi @kofif1

Thank you for your application. Earlier this week when we kicked off the review cycle with the Grants 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.

Currently, we have funding for 40-50% of the applications received in this cohort. We are reaching out to teams that have exciting applications, but feel less aligned with those objectives to comment on how/if you feel your project is consistent with one or more of these objectives and let us know how and why.

Thanks! Will

kofif1 commented 2 years ago

Hi, @will-at-stacks Will. Thanks for your input. The NFT bridge will be the first one that will SECURELY allow the migration of NFT collections and collectors to Stacks.

The bridge is a way for Stacks to attract collections, collectors, and builders from ETH and, in time, other chains to the Stacks blockchain. When I showed the bridge to lleana from the Mintery, she suggested we apply for a community grant because the Mintery needs tools to attract ETH-based collections and creators to migrate to STX.

As the world works today, most people deploy their collections on ETH, and many get stuck with unsold collections and an inability to monetize the collection as they choose. The NFT Bridge provides a way for builders using Crowdfunding methods and developing strong communities for their collections to drop their collection on Stacks and Ethereum. It provides an incentive for collectors to invest in this type of Multi-chain collection as a way to maximize their return on their NFT assets.

When I showed the bridge working to Jamil from Gamma, he pointed out that markets need this type of mechanism on Stacks and that when the Satoshibles migrated to Stacks, he got some of his most prominent collectors. I believe this type of phenomenon will happen a lot in the future. The NFT bridge will support collections, markets, and founders that rely on NFT sales for funding. If played right by Stacks, it will create a more vibrant and attractive environment for builders.

I hope this helps. Thanks. Ilan

will-corcoran commented 2 years ago

Excellent. Thanks for the feedback @kofif1 !

satoshibles commented 2 years ago

Hey @kofif1 - Cool to see more NFT bridge action!

In the example, you have the bridge2Stacks() method inside the token contract itself, can you expand a little how exsiting NFT projects (both ETH & Stacks) that are already deployed can use the bridge?

Also can you go into a little detail on the burn mechanic you have in place? Existing NFT projects will likely not want to or simply cannot burn/remint anything. Is there a setup you have in mind that does not require burning/reminting?

Do you have an example video of ETH to STX as well?

Cheers,

Bruff

kofif1 commented 2 years ago

Hi, @satoshibles We deployed the bridge on testnet at this point. The first two collections to bridge will be the Arties and another extensive collection on Stacks. The collection and NFT Bridges did not announce it yet, and I need to wait for a formal announcement before providing additional details. We are talking to other collections and creators on Stacks and other networks.

We requested the grant partially to help build the lockbox functionality on the Ethereum side. After creating the Ethereum lockbox functionality, we will no longer use the burn mechanism.

When an existing collection opts to start recruiting new collectors on a different network, they do not need to burn the current supply. The collection can do an NFT drop on the new network/s through the bridge and mint the new NFTs there. Private NFT owners can choose to move their assets to the new network if they choose to do so. They don't need to burn. Instead, they lock their NFT on the original blockchain and must mint the same NFT on the new network. This mechanism provides security and guarantees that the NFT will only be active in one network at a time. The NFT will be locked everywhere else. The video showing the movement of an NFT from ETH to STX is very similar and will be identical when we build the lockboxes on the ETH side. I hope this helps clarify your questions. Ilan

pseudozach commented 2 years ago

hi, is the lockbox a trusted component maintained by your company or the nft creator team? Just curious about architectural details and the trusted/trustless nature of this solution compared to already existing alternatives.

kofif1 commented 2 years ago

The Lockbox is Trustless. It is part of the bridge infrastructure. We do not have a key for the lockbox. The only person with access to the NFT locked in the lockbox is the person with the seed phrase to the wallet that locked the NFT in the first place.

will-corcoran commented 2 years ago

Hi @kofif1 -

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