search

stacksgov / grants-program

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.
141 stars 36 forks source link

Enable sBTC as a unit of value #825

Closed kieran-neoswap closed 1 year ago

kieran-neoswap commented 1 year ago

APPLICANT

Type:                                                                        Direct Application

Email:                                                                    kieran.pm@neoswap.ai

Discord:                                                    Kieranpm-NeoSwap#7282

Twitter:                                                        @whatsallthiss

Stacks Forum:           

GRANT BASICS

Grant Name:                                        Enable sBTC as a unit of value

Total Budget:                              5,000

Total Duration:                 100

Grant Type:                                               Open Source Dev Repeat Grantees

Grant Track:                                          Stacks dApps & Clarity

Grant Goal:                                               Improve Existing Technologies

Grant Audience:             Developers

Specific Audience:         dApps developers able to use sBTC as a unit of value in multiway trade contracts

Grant Team:                                       John-neoswap, gustavo-neoswap, kuba-neoswap,

Previous Grants:                      NeoSwap has successfully completed a grant for a Node.js package for multi-way trade smart contracts: https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/738

Ecosystem Programs:      NeoSwap was a part of Cohort 2 of the Stacks Accelerator.

GRANT MISSION, IMPACT, RISKS & REFERENCE

Grant Mission:         This grant enables sBTC to be used as the unit of value in multi-way trades on Stacks, extending the open source code previously developed for our grant (https://github.com/stacksgov/Stacks-Grant-Launchpad/issues/738).

The Stacks community is expected to adopt and use sBTC in these trades, which will increase the utility of, and demand for, sBTC. As an additional benefit, the work described in this grant will also allow other fungible tokens to be used as units of value in these multi-way trades.

Grant Impact:               The amount of sBTC used to settle multi-way transactions.

By extension this will increase liquidity across the ecosystem as people are able to use tokens in innovative and beneficial ways.

Grant Risks:                          Technical risks: New feature for NFT swap platform may have compatibility & bug issues.

Overcome plan: Analyze systems, budget for testing/fixing, have contingency plan.

Adoption risk: Difficulty promoting sBTC & other tokens.

Overcome plan: Market research, promote with industry players, provide user education & support.

Timing risk: 100hr grant may not be enough. Overcome plan: Break down project, allocate resources efficiently, prioritize.

Quality risk: Low quality may limit impact.

Overcome plan: Clear goals/deliverables, set quality standards, involve community, allocate resources for testing/QA.

Support Link:                                     Link to our platform.

GRANT ROADMAP & DELIVERABLES

FINAL DELIVERABLE

Deliverable:                   An update to multiway-swap-js package allowing sBTC as a unit of value in trades

stacks-foundation commented 1 year ago

👋 @kieran-neoswap
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 1 year ago

@kieran-neoswap

All of our Q1 funds have already been disbursed. As for Q2, we are working on several open sBTC related bounties we hope to post in Q2. However, with this being rather small funding request, being sBTC related, and your reputation as such strong builders - I would like to see if we can't figure out a way to get this funded once Q2 funds become available on 4/1. I hope that timeline works for you.

This isn't a guarantee, but I will def keep this in mind as the bounties come into focus. Hope you apply for those as well!

Please let me know if you have any questions.

Best, Will

kieran-neoswap commented 1 year ago

Thanks Will, no further questions for now. I will let you know if any come up. We certainly would view this as a positive for sBTC and the community, with the traction on Ordinals too.

Look forward to hearing from you.

Thanks

Kieran

igorsyl commented 1 year ago

Looking forward to working with you @kieran-neoswap and your team! Feel free to stop by our sBTC Eng meetings to meet the team!

will-corcoran commented 1 year ago

Hi @kieran-neoswap

Thanks for your patience, but unfortunately, we will need to deny your application at this time. Funding tooling needed around the sBTC protocol is still our top priority and the list of identified needs is poised to receive the majority of the available grants budget for the next 2-3 quarters. I would encourage you to keep an eye on the Critical Bounties though! We would love your participation on that front.

Thanks for your understanding.

Best, Will