Closed Mtyvoid closed 2 years ago
stacks-foundation
commented
2 years ago 👋 @Mtyvoid 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
tycho1212
commented
2 years ago Interesting! Does this leverage the new Stacks 2.1 updates? Have you spoken to the Mechanism team (Jeff & Hank)? They will have a lot of very valuable thoughts on this :)
will-corcoran
commented
2 years ago Hi @Mtyvoid -
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
APPLICANT
Type: Direct Application
Email: staxingfinance@gmail.com
Discord: bluedud3x#6731
Twitter: @StaxingFinance
Stacks Forum:
GRANT BASICS
Grant Name: Liquidity for stacking assets
Total Budget: 25,000
Total Duration: 360
Grant Type: Open Source Dev 1st time Grantees
Grant Track: Stacks dApps & Clarity
Grant Goal: Improve Existing Technologies
Grant Audience: End Users (Consumer)
Specific Audience: Users who want liquid stacking STX to work across DeFi to compound their yield.
Grant Team: Mtyvoid
Previous Grants:
Ecosystem Programs:
GRANT MISSION, IMPACT, RISKS & REFERENCE
Grant Mission: This DAO will allow users to earn stacking rewards without locking assets or maintaining the dynamic minimum. Stacking inherently comes with a high market risk related to locked stacked assets, until transfers are available through the DAO via a token pegged 1:1 with the current STX token. Until then, no one will be able to withdraw stacking STX intra-cycle, and sell them on an exchange for example.
Our liquid staking protocol is a Stacks DAO solving these drawbacks. Users can deposit their STX in DAO smart contracts and receive -- a tokenized version of stacking STX -- in return. The DAO-controlled smart contracts then stack tokens with DAO-picked pool operators. Users' deposited funds will be controlled by the DAO, pool operators will never have direct access to the users' assets.
Unlike stacking STX, the DAO token will be free from the limitations associated with a lack of liquidity and can be transferred at any time. The DAO token balance will be calculated based on the total amount of stacking STX, plus rewards and minus any penalties.
The DAO will be a much more flexible solution than self-stacking since it avoids freezing assets and maintaining the dynamic minimum. In addition, it allows stacking users to earn rewards on as small a deposit as they want without restriction on the number of STX deposited.
Grant Impact: 1. The on-chain activity increasing with the ability to tap into the value of the 472,803,958 STX currently locked stacking.
The amount of STX being stacked accumulating due to the removal of the fomo that comes with locking assets.
Adoption of the DAO token throughout the ecosystem.
Grant Risks: Contract Security -There is an inherent risk the DAO could contain vulnerabilities or bugs within the contract.The security of the DAO will and must be the DAO’s highest priority beginning at the time of its deployment.
Price Risk
[Support Link:](https://www.stacks.co/learn/stacking , https://www.stakingrewards.com/earn/stacks/metrics/ , https://lido.fi/) 1. Provides an understanding of Stacking and illustrates the USD value locked stacking
Refers to the metric breakdown of circulating, liquid, self and pool stacked STX
Lido has implemented a similar value proposition on Ethereum, this implementation on Stacks is supercharged with BTC yield.
GRANT ROADMAP & DELIVERABLES
MILESTONE 1:
Deliverable: Smart contracts that mint 1:1 'pegged STX' for each STX stacking with the DAO.
MILESTONE 2:
Deliverable: DAO-controlled smart contracts that stack tokens and handle payouts
FINAL DELIVERABLE
Deliverable: DAO allows users to earn stacking rewards without fully locking their STX tokens