GolFinance Grant Proposal

[Gol_Finance]

GolFinance Grant Proposal

1. Funding Tier

Please specify the funding tier and total grant amount of your proposal.

Tier 1 / 15k

2. Project Overview

Project title and description of the project.

GolFinance is a DeFi protocol with the mission of maximizing users yields while providing a secure, fast and 0 gas fee experience. The whole GolFinance ecosystem will consist of different features that will be released over time, however this grant proposal is considering only Version 1 under its scope. The v1 of the protocol includes deflationary tokenomics & an automated compounding yield aggregator.

How will this project be integrated into Conflux?

From its inception, the project will be carried out collaboratively by the Gol Community, which was born from within the Conflux Community. Our community is all-inclusive and already has accumulated members around the globe.
We decided to develop on Conflux Network to enable the secure and interoperable flow of assets and data and we will leverage it’s transaction sponsorship mechanism for simplifying the user experience and offer 0 gas fee transactions.
We will integrate with existing Conflux Ecosystem DApps such as Flux and MoonSwap in order to generate our users’ earnings, and our growth goes hand-in-hand with the growth of our surrounding environment. To that end, to support and be supported by our community, we aspire to cooperate on a partnership level with most of the Conflux ecosystem.
All of our efforts are agile, dynamic, and evolve and adapt according to community standards and values. Our DAO will facilitate our evolution and will be initially hosted on the Stampers App.

Why is your team interested in creating this project?

We got interested in building Gol Finance because we are OG users of most of Conflux Ecosystem’s DApps and found there is a big need to automate the compounding effect of yield farming protocols on Conflux. We spend a lot of time with manually compounding everyday and decided to develop Gol Finance to save time not only for us, but for the whole Conflux Community.

3. Project Details

High-level technical approach, product flow & architecture

To start using the Vaults, users need to deposit tokens (for Flux Vaults) or MLP tokens (for MoonSwap Vaults). When users deposit into a vault, this deposit will grow over time and users will also receive $GOL Token rewards as an additional incentive for using the protocol. To grow users deposits, GolVaults will automatically deposit on existing dApps while compounding on a daily basis to maximize users profits.

Our tokenomics and fees are designed to encourage longer term staking, and reward long term holders of our $GOL native tokens.

$GOL - Gol Token Use Case

• Farming/vaults/staking rewards (v1)
• Governance (v2)
• Minting NFTs (v3)
• Currency in the the NFT Game Marketplace (v4)

$GOL token emission rate will be deflationary, reducing the amount of $GOL/day issued by the protocol as rewards by 20% every 90 days. This event is an analogy to bitcoin “halvings”, and has the purpose to encourage early adoption. The token emission is planned to run for 7 years, after that time no more $GOL tokens will be minted.

Automated Compounding Strategies:

Vaults Simulations:

UI Example:

Overview of the technology stack being used, including API specifications, and documentation of core components.

Technology Stack: Solidity, Ganache, Truffle, HardHat, Conflux SDK, Web3, React, JavaScript.
V1 Core Components: Landing Page, Vaults Contracts, Token Contract, Front-End
References: Autofarm, Beefy

Ecosystem fit: How can the project benefit Conflux Network’s ecosystem?

Gol Finance Vaults enable higher yields and save user’s time through an automated compounding mechanism and integration of different farming strategies into one simple UI. We will be able to integrate any existing or future DeFi application and increase users yield via automated compounding and additional Gol rewards.

4. Team

Like many blockchain projects, DeFi projects are global and permissionless. We place a great deal of value on the anonymous nature of the scene. We are a team of engineers, developers and entrepreneurs with experience in the tech industry, marketing and business development. The team is committed to the longevity of the project and to the safety of the user’s funds and does not intend to own the protocol.The team believes that the community should have an active role in shaping the future of the project.
Once the project has been fully executed, the developers aim to give the power back to the people and give full control to the GolDAO.

Founding Team Members

Ivan aka “Maradona”: The Gol Maker. Maradona spends the vast majority of his time driving features to take GolFinance to the next level. Maradona is the team’s source of wisdom as he has been a developer for +30 years, and laser focused on the blockchain/crypto space for the last years. He’s also a cybersecurity expert and will make GolFinance a state-of-the-art protocol in terms of security and reliability.

Nico aka “Messi”: The Gol Master. He lives, breathes, and thinks GolFinance 24/7. Tangibly, Messi spends the vast majority of his time working to make GolFinance a long-term success. He’s a true fan of anything crypto economics, analytics, and engineering. He balances out this nerdy skill set with some soft skills that compliment every member on our team. He’s also a bit of a yield farming addict, always looking for his next farm and constantly staying up to date on the space.

Wouter aka Van Der Sar: The Gol Keeper. He’s the type of player you want backing you. While he’s a developer at heart, Van Der Sar has incredible business acumen and is quietly orchestrating many of the business decisions behind the scenes. He’s a die-hard crypto enthusiast and has more confidence in GolFinance than you could ever possibly imagine. Friendly to everyone and unusually optimistic, Van Der Sar makes a great people pleaser and business connector.

Other Team Members
Please note, we’ve only highlighted only 3 in this article. We have many other players behind the scenes helping with market analysis, designs, code pushes, business development, community management, and more.

Github Repositories: https://github.com/GolFinance

5. Development Roadmap

Derivables: GolFinance v1:

1. Landing Page
2. GolToken: Deflationary Token used for rewarding users.
3. GolVaults: Automated Compounding Vaults that optimize users yields.

Requested funding, milestone duration, and number of full time employees on each milestone.

This grant proposal requested a budget for development and marketing purposes

• Total Funding Requested: 15K
• Total estimated duration and cost of the whole project. 3 Months / 30K
• Number of full-time working people: 6
• Number of days, and cost per day.
• Total days projected: 90
• Average Daily cost: $333

Budget Allocation Detail:

GolFinance v1 Development Roadmap:

• Phase 1: Development (4 weeks)
• Phase 2: Beta Launch (4 week)
• Phase 3: GolFinance v1 Launch (4 week)

6. Go To Market Strategy

Gol Finance go to market strategy pursuits 3 basic goals:

• Generate accelerated community growth for Conflux and Gol.
• Ensure global coverage through multi-language support and content.
• Amplification through partners and the ecosystem

We will be implementing a series of marketing campaigns and industry-proven community building activities listed as follows:

• Ambassadors Program
• Social Media Marketing
• Monthly Events
• Weekly Activities
• Monthly Competitions
• Referral Program
• AMAs
• Community Management / Group Moderation
• Networking / Partnerships with other crypto communities
• Youtube Influencers Initiatives
• Joint Marketing Campaigns w/ NFT Artists
• Promotion with Twitter Influencers
• Souvenirs

Key Metrics

• Twitter: Mentions - #Hashtags - Tweets
• Telegram: # Members / Group
• Discord: # Members in the server
• Youtube: # Videos - # Views / Video - # Comments / Video
• Banner Ads: Traffic - User Connections
• Google Analytics: Activity Numbers - Traffic
• Instagram: Posts - #Tags - Reels - Mentions

7. Long Term Vision

What is the team’s long term vision for the project?

Long term vision of GolFinance is to offer an all-in-one ecosystem that enables users to have everything one can need in one single DApp, and that allows a fast and 0 gas fee experience to users.
The ultimate goal of GolFinance is to create a Football Soccer NFT Game on Conflux Network that leverages both passion for football, blockchain games hype and Conflux technology in order to be the Blockchain Game with the most users globally.

GolFinance v1:

• GolToken: Deflationary Token used for rewarding users.
• GolVaults: Automated Compounding Vaults that optimize users yields.

GolFinance v2:

• GolSwap: GolFinance’s DEX
• GolFarm: GolFinance’s Yield Farming / Liquidity Mining
• GolApp: GolFinance’s Mobile App

GolFinance v3:

• GolNFTs Collection: Managers, Players, YieldBoosters, Prizes.
• GolNFT Minting: Using GolTokens to mint GolNFTs
• GolNFT Staking: Earn GolTokens by staking GolNFTs
• GolDAO: NFT based Governance

GolFinance v4:

• GolSafe: Insurance Options
• GolPool: Lossless Lottery
• GolBet: Prediction Markets
• GolPlay: NFT Game
• Cross-Chain / Multi-Chain

8. Community Engagement

We ask that you publish an article or tutorial to be shared with your community outlining your work as part of the grant.

Medium Article

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Contact us:

Website (Draft) / Github / Twitter / Discord / Telegram / Telegram (ES) / Reddit / Medium

[Christian]

Yes, GolFinance’s team have been in the Conflux Community from the very beginning! Very excited to see a grassroot team come together and develop!

Having a emphasis on integrating existing Conflux products within GolFinance is great as more and more ecosystem projects are to be expected!

What are your plans regarding smart contract security? Are you talking with 3rd party audit firms?

[Gol_Finance]

Hello Christian! Thank you for your comment!

Regarding security I can mention three things:
1- We have a security expert on our team and we are taking every measure to ensure security for our users. (Vesting, Liquidity Locking, MultiSig, TimeLock, etc)
2 - We are making sure all of the contracts we are taking as reference have been audited several times and have been proven to be safe. Autofarm for example (our main reference for the vaults) has been audited by Certik, Anchain, Vidar and SlowMist.
3 - On our Roadmap, Milestone #3 includes 3rd Party Audits, however we haven’t decided on which this 3rd party auditor will be yet as we still need to compare different alternatives.

I hope this answers your question, and if you need further details just let us know!

[Lucas_WorldCitizen]

I love the football theme! Good luck!

[Geoff]

Awesome to see a project emerge from the Conflux community! Everyone on this application are OGs.

Some questions on your auto-compounding model:

1. How does your model determine the optimal vault to deposit into to? And how do you determine when you withdraw and switch vaults (auto-compounding)? etc.
2. Any plans to open this model and allow for community input or will it be closed sourced?

Some go-to-market questions:

1. What markets are you planning on operating in? What languages specifically will you support?

Thanks!

[Gol_Finance]

Hello Geoff
Thank you for you comments and questions!

Regarding auto-compounding:

1. The users can choose whatever vault they want to deposit on based on the tokens they wish to hold and the APYs each vault offers. For example, if the user holds MLP of a certian token pairing that GolFinance supports, they can stake it via our platform and the tokens will autocompound earning a higher yield over time.
   For the single staking vaults, currently we plan on only implementing FLUX single asset pools into GolFinance. If you have USDT for example, you can stake it through via our platform which will autocompound the asset for you through FLUX Protocol, earning you a higher yield.
   We have market specialists and analysts on our team that will also be looking at the latest farms available allowing us to continuously add new strategies and vaults.
   For optimizing the compounding frequency we use Autofarm’s model, using mathematical formulas to determine the optimal compounding rate.

2. We are always open for suggestions. When we release our DAO the community will be able to propose changes, new strategies and vaults and implement them via voting.

Regarding Go-to-market questions:

1. We plan to focus on global community, being soccer the biggest sport globally, we believe we can cover most regions. However, we will be initially supporting English and Spanish languages only, until we are able to grow our team enough so we can support other languages such as Chinese, Russian and Portuguese.

I hope this answers your questions and don’t hesitate to reach out to us if you need further details on any of these topics.

[thegaram]

Hi GolFinance team, thanks for applying for a Conflux Network grant and for submitting a high-quality application!

If I understand it correctly, GolFinance v1 is a tool built on existing DeFi products on Conflux that serves as an automated compounding yield aggregator, i.e. users do not need to send transactions manually to achieve this. Who executes these compounding transactions then? Is it the maintainers (i.e. your team) or anyone can do it? If it’s the former, then what’s your plan to keep this mechanism maintainable if sponsorship from the Conflux Foundation runs out? If it’s the latter, what incentives do you offer to the community to send these transactions?

It is not part of v1 but I’m curious about your plans with NFTs, how do they fit into your product?

[Gol_Finance]

Hello Thegaram,
Thank you for you comment!
You’re getting it right. The compounding transactions will be executed by our smart contracts, and will be triggered by Cronjobs and JavaScript scripts at dynamic compounding rates that depend on variables such as deposited token, base APR and gas fees. With Conflux gas sponsorship mechanism, that last variable it’s not that relevant, but if sponsorship mechanism from the Conflux Foundation runs out, we will just need to adjust optimal compounding frequency, as the gas fees is a variable that impacts that calculation.
Regarding NFTs, this is the feature that differentiates GolFinance the most compared to other yield aggregators on the blockchain. There are many use cases planned for GolNFTs starting with staking NFTs to get $GOL, unlocking VIP Vaults, and will be the base asset for the game. In the game, users will be able to build their own football team and compete each other, while being able to stake those NFTs and play to earn $GOL. We will upload the Whitepaper with more details on the NFT Game soon.

[Gol_Finance]

As mentioned on our previous comment, we have created a Gitbook page with more details and documentation on GolFinance:

Whitepaper

I hope this answers some questions regarding future versions and features of the Protocol.

[thegaram]

Awesome, thanks for the explanation. In the future, I’d suggest you make it so that anyone can send the compounding transactions, getting some $GOL reward in return. This way, your protocol will be more decentralized, and it can keep running even if your cronjob fails for some reason.

[Gol_Finance]

Thanks for the feedback!

[Gol_Finance]

To the Conflux Community, we deeply apologize for the prolonged response. Our team has decided to delay the launch of the automated compunding vaults because we lack a platform to partner with so we can launch Gol Token and due to ecosystem projects we were planning to interact with not having contracts verified. Although we understand the desire for closed sourced code, this is ultimately damaging to the decentralization of this ecosystem and preventing us from succssfuly launching as planned.

We have concluded that we cannot rely on other projects participation for success so our team has decided to shift our priorities and short term goals slightly. We will be altering our roadmap to launch GolSwap initially, which will allow us to combat the barriers holding us back. The vaults will need to be delayed until Golswap is successfully up and running. We don’t have an exact date for GolSwap but we are estimating early Q122. Hopefully, the Conflux team understands the logic and frustration our team has been working through. We will continue to work with Conflux and communicate going forward.

[Geoff]

Thanks for the update @Gol_Finance! Your feedback is very valuable. We will continue to work with you to make the launch of Gol Finance a success.