Layer 2 peer-to-peer finance - Money Legos bounty

[dunnerbitz]

Inspiration

Decentralized finance (DeFi) is the new kid on the block in Web3, DeFi is an exciting alternative to traditional finance and can also be called peer-to-peer (P2P) finance. It gives anyone, anywhere access to new financial opportunities whilst simultaneously giving users control of their assets. The following are beneficial with Layer 2 scaling solutions (a) increase in the throughput of the chain, (b) reduce the finality delay for a block, (c) reduction in gas consumption for processing operations transactions would be faster and cheaper on the Tezos blockchain. Additionally, the intistric properties of the Tezos blockchain such as safety, security and decentralization should be preserved.

Challenge Description

Tezos is a self-amending blockchain network that incorporates an on-chain mechanism for proposing, selecting, testing, and activating protocol upgrades without the need to hard. The Tezos protocol can host multiple rollup implementations and designs. Some can also be permissioned ( only certain parties can add to them ) at the cost of some benefits. All of these options are currently being explored. The goal of this bounty is to build new defi protocols making use of layer 2 technologies to implement decentralized banking functionalities.

Hints

An excellent video featuring rollups by Arthur Brietman. We recommend making use of the existing project in the Checker codebase.

References or inspirational links

• https://www.marigold.dev/project/optimistic-rollups
• https://gitlab.com/nomadic-labs/privacy-team/-/tree/master/rollup

Requirements:

• Submissions must be open source (MIT license)
• Submissions must have a working prototype deployed live on the current testnet
• Submissions must have a writeup on what the product backlog for reaching 'completion' looks like
• Submissions must list the addresses of their token contracts

Prize

$13000 in tez for the best submission $5000 in tez for the the second best submission $2000 in tez for the third best submission

We reserve the right to not pay out prizes if none of the applicable submissions meet the minimum criteria.

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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This issue now has a funding of 20000.0 XTZ (37400.0 USD @ $1.87/XTZ) attached to it as part of the tezos-contrib fund.

• If you would like to work on this issue you can 'start work' on the Gitcoin Issue Details page.
  • Want to chip in? Add your own contribution here.
  • Questions? Checkout Gitcoin Help or the Gitcoin's Discord
  • $1,003,687,153.52 more funded OSS Work available on the Gitcoin Issue Explorer

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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Work has been started.

These users each claimed they can complete the work by 2 days, 13 hours ago. Please review their action plans below:

1) rukmani887799 has started work.

TEZOS BANKING SITE YOU CAN DO ALL THINGS THAT USUALLY DO IN BANKS 2) bild96 has started work.

Simple Decentralized Exchange in Tezos. 3) vintageplayer has started work.

Coming Up

Learn more on the Gitcoin Issue Details page.

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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Work for 20000.0 XTZ (30800.0 USD @ $1.54/XTZ) has been submitted by:

1. @bild96

@dunnerbitz please take a look at the submitted work:

• PR by @bild96

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• Learn more on the Gitcoin Issue Details page
• Want to chip in? Add your own contribution here.
• Questions? Checkout Gitcoin Help or the Gitcoin's Discord
• $1,003,697,103.99 more funded OSS Work available on the Gitcoin Issue Explorer

[Bild96]

https://github.com/Bild96/pumpkin-dex