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Welcome to the Stacks Foundation Grant Program. Community members interested in submitting a grant proposal may do so by opening an issue in this repository and filling out the grant application.
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Cypherock X1: Hardware Wallet Integration #726

Closed rohanagarwal94 closed 1 year ago

rohanagarwal94 commented 1 year ago

APPLICANT

Type:                                                                        Direct Application

Email:                                                                    rohan@cypherock.com

Discord:                                                    rohanagarwal94 | Cypherock#8898

Twitter:                                                        rohanagarwal94

Stacks Forum:           rohanagarwal94

GRANT BASICS

Grant Name:                                        Cypherock X1: Hardware Wallet Integration

Total Budget:                              25,000

Total Duration:                 500

Grant Type:                                               Open Source Dev 1st time Grantees

Grant Track:                                          Stacks Interface

Grant Goal:                                               Improve Existing Technologies

Grant Audience:             End Users (Consumer)

Specific Audience:         Users looking for native HW wallet exp, Devs interested for OSS wallet libs

Grant Team:                                       Rohan Agarwal - https://github.com/rohanagarwal94, Suraj Tiwari https://github.com/Suraj-Tiwari, Pushkar Pathak - https://github.com/mdhash, Ujjwal Kumar - https://github.com/Ujjwal0501, Vipul Saini - https://www.linkedin.com/in/vipul-saini-59a24156, Irshad Ansari - https://github.com/irshadjsr21, Prashant Vikal UI/UX - https://www.behance.net/vikals

Previous Grants:                      N/A

Ecosystem Programs:      N/A

GRANT MISSION, IMPACT, RISKS & REFERENCE

Grant Mission:         First Desktop-based HW Wallet for Stacks When it comes to self-custody, Web3 natives still prefer managing their funds from a PC possibly via a HW wallet because recent cases have portrayed inefficiencies of SW wallets and lack of optimal mobile stack which prevents the development of safe mobile wallets.

Funding SW dev with OSS wallet libs Cypherock is open-source. Cypherock will be supporting C transaction signing lib, React lib for constructing tx and Node infra to run on the server.

10x security and convenience The lack of seed phrase backup improves UX, as well as security for the users. The no. of wallets per person is increasing, therefore seed phrase backups become that much more of a vulnerability when it comes to securing crypto. Additionally, the private keys is never stored in a single place making it 10x more secure than every HW wallet.

4 HW wallets in 1 HW wallet Cypherock X1 allows you to create 4 different wallets with unique seed phrases, within the same HW infra. Users can use it for different usecases required for Stacks - assets transfer, Stacking, backup of the validator keys etc. Also, they have the ability to view their entire Stacks portfolio from one place.

Solution for Stacks inheritance Cypherock's infra enables inheritance possible without compromising the privacy and control of the assets.

In the future, users should be able to access essential ecosystem tools from within our App like: Stacking Token Swap Token Lending NFT Support Multi-sig BNS

Grant Impact:               Atleast $100k worth of Stacks secured through Cypherock wallets in the coming months. 0 Cases of hacks due to seed phrase loss 0 Cases of Crypto losses due to death of the Crypto user 0 cases of Crypto loss due to physical attacks

Grant Risks:                          No grant risk based on the initial research for the execution.

Support Link:                                     Github repo of the Company

GRANT ROADMAP & DELIVERABLES

MILESTONE 1:

Deliverable:                   UI/UX design on the cySync desktop app, C transaction signing library for the Cypherock X1 wallet, React lib module for constructing STX transaction signing and integration on cySync desktop app

MILESTONE 2:

Deliverable:                   Node infrastructure in Go + Nodejs to run on the server, Integration, testing, documentation, and deployment

FINAL DELIVERABLE

Deliverable:                   Support STX on Cypherock wallet

stacks-foundation commented 1 year ago

👋 @rohanagarwal94
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

rohanagarwal94 commented 1 year ago

Just to add here, we also did something for Near protocol already. Check it out here - https://www.cypherock.com/blogs/post_harware_wallet_experience_for_near

will-corcoran commented 1 year ago

Hi @rohanagarwal94

Thanks for the application! Applications for this cohort close next Friday 11/4 and then the Grants Review Committee will be doing the full review. Currently, I am in the process of doing some pre-review and one of the things I wanted to ask you about is the overall budget for your grant.

Right now and for the next quarter or so, grants are going to be reserved for critical blockchain related work and addressing priorities outlined from community feedback, which you can find here. While this application covers some really interesting territory, we are trying to be cognizant of only funding the portions that are the most high-impact and aligned with those priorities. Additionally, we have been asking applicants to keep their budget in the $75/hr range and your application appears to pencil out to $100/hr. If you could take a close look and try to keep your overall budget around $25k that would be great. You can also refer to the awarded applications from Cohort 18 to see the amount of scope they were able to cover for similar budgets.

Please let me know if you have any questions.

Best, Will

rohanagarwal94 commented 1 year ago

Hi @will-at-stacks

Thanks for the initial feedback! I completely understand the prioritization of grants for critical blockchain-related work. $75/hr seems reasonable to pull off. In terms of grant prioritization we lie in the 3rd bucket here -

Since, we will be committing code that developers will be able to reuse for their own wallet implementations. That said, $37.5k seems to be more reasonable given the fact that we were going to set up our own Stacks Node Infrastructure on our server to provide the best possible experience for the Stacks community. If you insist, we are open to limiting the scope for now to $25k, considering that we use the existing Stacks Blockchain API instead of running and managing our own Stacks node on our servers. Please let me know if that works.

will-corcoran commented 1 year ago

Hi @rohanagarwal94 - Thanks so much for your budget compromise. I will make note of the $37.5k adjustment for the GRC. Best, Will

Scarlett-Web3 commented 1 year ago

I think you have an interesting project. If you haven't already gone through the Stacks Web3 Startup Lab, I would like to invite you to apply.

Here's a 5-minute read on how we can help you turn your startup idea into an investment-ready startup: www.web3startuplab.io

If you are interested, you can apply through the "Apply Now" button.

Feel free to ping me on email: scarlett@stacks.ac

will-corcoran commented 1 year ago

Hello @rohanagarwal94

Thank you for the application and for your patience with the grant review process. We did a thorough review of all of the applications (each application received an average of 6 reviews from members of the Grants Review Committee).  However, after much consideration, we decided not to fund any of the Cohort 19 grant applications as we did not feel they aligned with critical priorities core to the development of the Stacks blockchain.  

We invite you to please read this blog post we authored to help elaborate on the reasoning behind this decision and clarify the current mission of the Grants Program.

Thanks in advance, Will Stacks Foundation Grants Program Manager