Please find below our Grant Proposal for your consideration.
1. Funding Tier
- Funding Tier: 2
- Funding Amount: 50K USD value.
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2 Project Overview:
Name: TrustSwap
Founded: July 2020
Token: $SWAP
Team size: 47 employees
TrustSwap’s ecosystem offers smart contact services and innovative solutions for decentralized finance (DeFi) and assists the crypto community and projects to transact with integrity and accountability.
We solve problems in the DeFi space connected to trust, transparency, bad actors, rug pulls, exit scams, smart contract vulnerabilities, extensive development times & costs, token generation, launchpad raises and more.
We achieve this by building foundational layers for multiple L1 chains through services like: Team & Liquidity token Locks, Audited Customizable Token Generator, Launchpad & Incubator platform, Farming-as-a-Service, Vesting-as-a-Service, automated distribution protocols, and Swappable NFT service.
TrustSwap recently acquired a top 3 multi-chain crypto portfolio/tracker & news app: 'TheCryptoApp’ with 172 million ad impressions (last quarter), +2m downloads.
TrustSwap is a proud sponsor of the Eden Reforestation project. To date, through our donations we have helped plant over 120k trees and generated 1,214 paid working days for the local communities.
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3 How will this project be integrated into Conflux?
We propose to implement the Conflux chain into the following suite of services:
- 3a Team Token Locks.
- 3b Liquidity Token Locks. (Pending technical analysis)
- 3c Hourly Claim Vesting Dashboard.
3a Conflux Team Token Locks & Liquidity Token Locks
Description: A transparent, secure, and decentralized smart contract vault for custom time-released vesting of liquidity tokens and team tokens.
The locking period and amount is customizable. TrustSwap cannot take custody of tokens, and does not have access to them. They are only accessible by the projects and can only be withdrawn after the locking period has been passed.
Supported Chains: Ethereum, BSC, Avalanche, Algorand.
Status: ETH, BSC and Avalanche are on Mainnet. Algorand on Testnet.
Goal: Service to assist de-risking DeFi by eliminating common bad actor vectors such as rug pulls and exit scams. All token locks by Conflux projects will be transparent through our public vesting dashboard which will increase investor and community confidence.
Market Note: TrustSwap is market leader in Token and Liquidity locks with over 1.5 billion USD in locked value and is trusted by 9k+ projects.
Tech Note: Team Token locks can be done. The feasibility of Liquidity Token locks is pending on the availability of a live Conflux DEX that matches our minimum compatibility standards or technical evaluation for an adapted implementation.
3b Hourly Claim Vesting Dashboard - Launchpad partners
Description: Conflux projects in our Launchpad or Incubator program will receive, for free, their own customizable hourly token vesting contract in our audited smart contract platform. The project decides the public/private raise vesting end date, and from vesting start the token recipients can claim their tokens on an hourly basis through the TrustSwap Claim dashboard.
Supported Chains: Ethereum, BSC, Avalanche and Algorand.
Status: ETH, BSC and Avalanche are on Mainnet. Algorand on Testnet.
Goal: Service to prevent expected mass tokens dumps during scheduled release days by Private and/or Public raise participants. Instead, the contract will continuously release small amounts of tokens into an hourly claiming dashboard. This way vested tokens holders will each define their strategy when and with how many intervals they will start claiming their partial tokens. Creating a more balanced and spread division of token releases and reduces sell pressure and volatility.
3c Why is your team interested in creating this project?
TrustSwap strives to assist all projects, investors and communities in de-risking DeFi. As a multichain service provider we are interested in Conflux being a next generation blockchain that shares the same values regarding security, transparency, and stability.
The ecosystem Conflux is building is very promising and tools such as Token & Liquidity Locks and Hourly Vesting will help upcoming Conflux projects get off to a great start. TrustSwap already has a request from a high quality project that wants to launch on Conflux
Trust and Transparency are essential within DeFi and these decentralized tools ensure a great base to instill confidence. TrustSwap looks forward to seeing Conflux projects take advantage of these tools so that together we can build a transparent and safer DeFi future.
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4 Project Details
4a Team token and Liquidity Locks
This is already heavily used by over 9000 Ethereum, BSC, and Avalanche projects.
Audited by Chainsulting.
The transparent dashboard and Lock platform can be found here: https://team.finance/
Team Token Lock Flow:
- Go to the Team.finance page powered by TrustSwap
- Connect wallet
- Select desired chain: Conflux
- Select type of lock: Project Tokens
- Define token amount and lock period.
- Approve transaction
- Lock tokens (tokens get transferred to the Smart Contract Vault)
- View finalized token lock in the private “My Locks” section and/or the public “Explore” page.
- Additional Features: “Transfer Lock”, “Withdraw” and “Extend Lock”.
Screenshots:
Locks: Transparent Public Dashboard displaying all active locks
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Locks: Select on which chain you will create the lock. Conflux will be added there.
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Locks: Select which type of lock you want to set and follow the next steps to activate the lock. This example is from BSC, a custom Conflux help text will be displayed here.
Team Locks Development:
- Installation of the ConfluxSDK to communicate with the Conflux Blockchain and the Conflux Portal (wallet).
- Deploy the audited smart contract for Conflux blockchain locks and access the methods from the Conflux Portal wallet.
- Enable the project to connect their Conflux Portal wallet. In the wallet selection screen, the Conflux wallet will be listed as compatible wallet.
- Once the wallet can connect, show the balance in CFX and the Wallet Address in the top right corner as well as the option to view the latest transactions linked to the Conflux Scan.
- Implement ability to search and select the existing Conflux tokens by wallet address.
- Ability to read token balance.
- Interface to define token amount to be locked and the unlock date.
- Conflux Portal wallet to confirm the transaction/lock.
- Enable the [LOCK] button.
- Transfer tokens to the non custodial vault. Enable Lock.
- Display finished token lock information in user interface under “My Locks”.
- Add the functionalities: “Extend locks”, “Transfer locks” and “Withdraw”.
- Condition: The buttons to transfer, extend the lock and withdraw will only be enabled after the Lock period.
- Add Lock visibility to the public ‘Explore’ page.
Tech approach:
For the other chains we used WEB3.js support that allowed to access the Ethereum, BSC and AVAX chains together with integration of Metamask, Coinbase Wallet, Fortmatic and Portis wallets. For supporting Conflux network we will add the js-conflux-sdk that allows us to access and interact with the Conflux network as well as integration with the Conflux Portal wallet. We added this in the Frontend and Backend. We will support Conflux Mainnet and Testnet over the rpcs:
mainnet: https://main.confluxrpc.com
testnet: https://test.confluxrpc.com
To compile and deploy the LockToken smart contract we will use the Conflux-Truffle tool.
In order to get information about transactions we use the ConfluxScan:
mainnet: https://www.confluxscan.io/
testnet: https://testnet.confluxscan.io/
The Team Token Locks will be available on both testnet and mainnet.
Liquidity Locks will follow a similar process, but first a feasibility study has to be performed to evaluate the minimum compatibility components to build upon the existing locks framework.
4b Hourly Vesting Distribution DashBoard
Project flow:
- The Launchpad project provides a file with vesting schedule details including the vesting period and recipients’ token amounts and wallet addresses.
- After our validation they send the total token amount to the audited Smart Contract.
- TrustSwap will do the rest! Full guidance is available with personal support.
Allocation Recipient flow:
- Allocation recipient connects the Conflux wallet to the TrustSwap claim dashboard.
- If an allocation was granted, the Conflux launchpad project name will appear in the screen, showing: Total token allocation, Remaining time to next claim, Amount currently available to claim, and Total tokens claimed so far.
- Based on their personal strategy, by pressing the [CLAIM] button, the tokens collected until that moment will be sent to their wallet. There are no extra fees/costs for the recipient, only the actual gas fees.
- It’s of course not mandatory to claim each hour, and claims do not expire, the recipient can group as many previous claims together as desired.
Screenshot of Claim Dashboard:
Example of 2 launchpad projects available to be claimed by this wallet owner in the dashboard.
High level Background:
Smart Contract, backend and front end interface to completely decentralize the process of distributing the vested tokens to the users. For the projects it’s a simple batch upload of all the participants details along with sending the total token amount to the audited Smart Contract. Once that is done, the distribution is initiated by TrustSwap and claims can be triggered by the end users whenever they want. The Conflux contract creator does not have to worry about anything else. TrustSwap team will make sure that for each Launchpad partner the integration in the front end is performed and users can flex-claim their tokens over an extended period of time.
4c How can the project benefit Conflux Network’s ecosystem?
Locks: See GOAL in item 3A.
Vesting: See GOAL in item 3B.
General: See item 3C.
Additional: With TokenLocks, Liquidity Locks and Hourly Vesting available we are all set to also welcome Conflux projects to our successful Launchpad and Incubator program. For more details about this program, please check out item 12.
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5. Team
TrustSwap consists of 47 team members. Below we will highlight the management members.
Jeff Kirdeikis - Founder/CEO
Jeff is an advisor to multiple successful blockchain companies and is the founder of Uptrennd blockchain project which was acquired in 2021. At its peak, Uptrennd was the most visited blockchain-based social media platform in the world based on time on site and pages visited.
He is also the founder of one of the largest cryptocurrency communities in the world with over 1.5 Million people.
Within only 12 months, Jeff and the TrustSwap team became a top-tier DeFi project with 1.5B TLV, a market leader in token locks, and one of the top launchpads providers.
https://twitter.com/JeffKirdeikis
https://www.linkedin.com/in/jeffkirdeikis
Adam Barlam - Co-founder
Adam is the lead developer and founder behind the projects Bravocoin, a platform that allows users to earn crypto for writing reviews and Rebuzz, a decentralized social network. Currently he is also CEO at ChainGames, an evolution in Web 3.0 blockchain gaming that combines smart contract based contests with state of the art gameplay. He has previously worked as a Sr. Architect at GoDaddy and Intel.
https://www.linkedin.com/in/adambarlam/
Ivan Anastassov - COO
Ivan has over 7 years of startup experience in the FinTech, SaaS and Blockchain space. His Blockchain career started in one of the top IT consultancy firms helping banks and financial institutions to implement their first Blockchain use cases. He was also involved in the establishment of an Ethereum Mining Farm in Bulgaria and was an early-stage core member in one of the leading European Crypto-Exchanges as Head of Business Development.
https://www.linkedin.com/in/ivananastassov/
Ivan Reif - CTO
Ivan is an experienced senior software engineer and project manager coming from the FinTech space who now focuses entirely on blockchain and building the finance of the future. Ivan founded his own blockchain consulting company Senzu GmbH (Germany) in early 2016 and has shipped multiple successful projects to date.
https://www.linkedin.com/in/ivan-reif/
Onuora Amobi - Marketing Director
Onuora is a Digital Marketing Strategist with over 15 years of digital marketing experience, over a decade of enterprise technology experience and 6 years of cryptocurrency experience. A former management consultant, his work history includes positions at the LA Clippers, VERITAS Software, Deloitte Consulting, EDS Enterprise Solutions, IBM, Kaiser Permanente and Warner Bros Studios among others. He is also an Executive Faculty member of the United States Drexel University’s Executive Education department and an active adjunct professor where he teaches digital marketing and organizes corporate marketing bootcamps.
https://www.linkedin.com/in/amobi/
Bradley Townsend - Business Development Manager
Bradley is an experienced growth enabler with an extensive business acumen, and has built an impressive network of both C-level executives and notable grass-roots thought leaders. He leverages these to strengthen the presence of new and running projects, supporting short term growth for sustainable long term development.
https://www.linkedin.com/in/bradley-townsend-58ba53150/
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6 Name and registered address of the legal entity that will be delivering the project.
TrustSwap Inc
12170639, 139 Street NorthWest, Edmonton, AB, T5L 2C1, Canada.
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7 TrustSwap Github code repositories.
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8 Development Roadmap
Milestone 1 - Team Token Locks
- Integration of the Conflux Chain into the Team Token Locks interface.
- Integration with the Conflux Wallet.
- Conflux projects can lock their team tokens in the Team.Finance interface according to the desired vesting schedule.
- After completing the wizard, the lock will be visible in the public Explore list.
- Projects can see their active locks in the “My Locks” section.
- Only after the vesting period ends the project can claim their tokens.
- Testing & QA.
- Token Locks live on mainnet and available for Conflux projects.
- We will offer both mainnet and testnet availability.
Mainnet: https://main.confluxrpc.com
Testnet: https://test.confluxrpc.com
Milestone 2 - Liquidity Locks:
Integration of the Conflux Chain in the Liquidity Locks interface. (Pending tech analysis)
Phase 1:
- DEX Evaluation study to define compatibility of Liquidity Pool tokens on the Lock framework.
- When compatible or compatible with additional conversion we will proceed with Phase 2.
Phase 2:
- Conflux projects can lock their Liquidity tokens in the Team.Finance interface according to the desired vesting schedule.
- After completing the wizard, the lock will be visible in the public Explore list.
- Projects can see their active locks in the “My Locks” section.
- Only after the vesting period ends can projects claim their tokens.
- Testing & QA.
- Token Locks live on mainnet and available for Conflux projects.
- We will offer both mainnet and testnet availability.
Mainnet: https://main.confluxrpc.com
Testnet: https://test.confluxrpc.com
Milestone 3 - Hourly Vesting Dashboard
- Prepare Smart Contract to receive Conflux tokens for distribution.
- Batch upload compatibility.
- Ability to add Conflux projects to the dashboard structure and front end.
- Ability to connect Conflux Portal wallet by recipients to receive the tokens each time they claim it.
- Testing and QA
- Hourly Vesting dashboard live on mainnet available for Conflux Launchpad projects to execute a controlled raise distribution over extended timeframe.
- Besides above, TrustSwap will have 1 person available to support each Conflux Launchpad partner in the batch file generation and follow up. As well as 1 IT specialist that will integrate and initiate each project into the dashboard.
Milestone 4 - Marketing / Social Media
- Social Media campaign in cooperation with Conflux to market the successful integration. Consisting of tweets, retweets, graphics, and a blog article.
- Additional and specialized marketing services can be provided but are excluded from the grant proposal.
- During the first 3 months, TrustSwap will also offer both Token and Liquidity locks for free to new and existing Conflux projects. Giving them an opportunity to try out these services and start making a difference.
Team members involved during the integration project:
Development:
- Project Manager
- 1 Sr System Architect for Liquidity Locks analysis
- 1 Front End Developer
- 1 Sr Back End Developer
- 1 Sr Blockchain Developer
- 2 QA specialists
Social Media:
- Social Media Manager
- 1 Copywriter
- 1 Social Media Graphic Designer
Team members involved after the integration project:
- 1 Support Expert to guide each Launchpad project in creating the batch file for the Hourly Vesting dashboard.
- 1 IT Specialist to implement each upcoming Launchpad project vesting protocol into the dashboard.
- 1 Locks Support expert for technical issues and questions from projects regarding Locks.
Total estimated duration and cost of the whole project.
- M1 - Token Locks: 70 hours
- M2 - Liquidity Locks: approx 80 hours (exact number of hours can be provided after the tech analysis.)
- M3 - Vesting: 37 hours
- M4 - Marketing: 6 hours
Total Estimated Duration: 193 hours
Total Costs: 50k in USD value
Note: With this grant we will also include the compatibility and development with the upcoming multilock feature for Conflux Team locks. These hours are not included in above overview but will be on TrustSwap account.
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9 Long Term Vision. What is the team’s long term vision for the project?
TrustSwap’s long term vision is to help the world achieve mass adoption of blockchain technology and cryptocurrency by striving to make DeFi safer and easier to use for everyone. Our broad suite of tools all offer different ways of reducing risk and helping new projects and chains grow their communities through instilling trust and confidence in the underlying technology.
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10 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.
We will make this part of our social media campaign. See item 4.
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11 Delivery Requirements: Github repositories are required for the delivery of your project, including test suites (e.g. integration tests if applicable), and guides on how to run.
Our interfaces are ready-to-use wizards. No coding or implementations required. For all 3 services: Connect the wallet and you are ready to go!
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12 Other: Please include any further information or attachments that are relevant to your application.
The full TrustSwap Ecosystem:
TrustSwap also offers a Launchpad and Incubator program. A mandatory aspect for project eligibility is the use of Token locks, Liquidity locks, and Hourly vesting.
The Launchpad program is designed to identify new crypto startups with strong teams and innovative use cases and guide them to achieve their long-term goals and potential through support on Business Development, Operations, Exchange listings, Tokenomics, Marketing, UI/UX, VC Roadshow, Initial Token Offerings, and more. We also organise the public and private raise and give access to our ecosystem tools and network.
Our launchpads and incubators differentiate themselves by having an 24h application window, no gas wars, and a guaranteed allocation (pending geographical restrictions) for $SWAP stakers.
With Token Locks, Liquidity Locks, and Hourly Vesting active on the Conflux chain, the foundation is ready to welcome new Conflux projects to the program. We are looking forward to working with you!
. When do you plan to launch ?