Growth Grant Application - Dragon Cult XYZ - Tier 1

Project name: Dragon Cult XYZ
Incorporated startup: No.

Project Description & Usage
Inspired by olympus treasury and exponential growth of safemoon, dragon cult building original (not forked) project called XYZ. XYZ is treasury wrapped token soft pegged to stable coin with growth mechanism to counter inflation.

  • User buy XYZ from swappi, get XYZ-USDT LP token and stake it in cult LP Vault for good APY.
  • User also can mint NFT (required to stake 1000 CFX) to become cult member. Cult member receive daily reward and access to cult swap.

Long-Term Vision
Very low volatile (almost stable) asset with steady growth (good APY)

Project Links:
Lite paper:

We are anon devs with past work experience in smart contract development involve uniswap & aave fork.
Name: Denden Biebie
Roles: Lead & project manager
Discord id: dendenbiebie#9603
Telegram id:
Skills: smart contract, full stack web development, trading

Tier 1: 3000 usd


  • Conflux holder looking for alternative investment to hedge his/her CFX position
  • have good tolerance for risk


  • XYZ holders bought from swappi. Hold the token and sell later for profit or loss.
  • XYZ-USDT LP staker. Get LP token from swappi and stake in cult vault. Long term investor, defi user looking for good yield.
  • Cult member (NFT owner). Got access to cult swap and daily reward. Decide the future of platform as DAO. Promote the project.
  • Developer. Build the platform until DAO established.

Alternative, competitor & project advantage:

  • Safemoon/other memecoin. Dragon cult XYZ have built in treasury to prevent pump and dump scheme affected in many meme coin.
  • Olympus. Dragon cult have reasonable APY compared to olympus, this will limit the inflation of the token. Treasury consist only of stablecoin for reduced volatility. Instead of token, dragon cult have LP token got rewarded. This also reduce volatility.

Technology (detail in lite paper):

  • NFT contract connected to conflux pos pool.
  • Buy & burn contract: take interest from pos pool to buy XYZ from swappi & later burn it.
  • Cult swap contract: swap XYZ to USDT and vice versa. Using bonding curve for price.
  • Arbitrage contract: synchronize price between cult swap & swappi.
  • LP Vault contract: give XYZ reward for LP staker.
  • Daily reward contract: give XYZ reward for NFT owner (cult member).
  • Treasury contract: Mint XYZ and lock USDT.

Community Overview:
Website launched on 10 march 2023, initial liquidity $10 and $5 in treasury. Until now (27 march 2023) we have:

Project stage:
Currently we are in alpha testing phase, focused on technical aspect to remove any bug and strengthen the protocol.
We also doing basic marketing in some channel.
On this phase we also taking some data to validate our idea before continue to allocate more time and fund.


  • got approval from conflux team to reach conflux users
  • text AMA in conflux global telegram & local telegram group
  • giveaway or airdrop to increase twitter followers
  • doing task to earn / bounty hunting
  • token got listed in swappi


  • liquidity in swappi reached 100000 usd
  • token holder > 1000
  • 50 nft minted (50000 CFX staked)
  • 80%-100% LP staked in vault


  • text AMA in global group, 1000 usd (100% allocated for prize), 2 weeks
  • text AMA in 5 local group, 1000 usd (100% allocated for prize), 1 month
  • twitter airdrop & events, 1000 usd (100% allocated for prize), 1 month

annualy 5% from existing XYZ supply will be minted to maintenance the growth (will be decided by DAO)


Thanks for your application @Denden_Biebie!

Just one thing to flag - we dont give out grants to anon teams as a policy. Would you be willing to dox yourself to the Conflux Grants Committee?

Some initial questions:

  • Can you provide details on your development roadmap and technical architecture?
  • Has DragonCult been audited?
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Hello @Denden_Biebie,
I have a couple of questions about Dragon Cult:

  • Were the contracts forked from other projects?
  • Can you please provide details about the project’s smart contracts? (Contract Addresses, code on github, etc)
  • Are you using a multisig wallet for the Treasury?


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On eligible to receive grant, we are okay to be doxxed to conflux teams.

Protocol development already 90% completed, currently we are doing optimization and bugfixing, mostly on frontend side.

We will provided latest technical architecture as soon as possible. Meanwhile, how our protocol work can be found in litepaper above.

Not yet. We are still looking for pre-seed investment which included cost of smart contract audit.

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No. We use openzeppelin contract as base, and not forked other project.

BuyAndBurn contract: 0x3Ce240536BC5fC9083F42a4E6d1Bb83cA63161b8
LPVault contract: 0xedd7F777E6eF1365195D97727b333C99E165863D
Treasury/Swap contract: 0x59635f7d4f467c1869dd4aa9cd925eb265839666
Arbitrage contract: 0x3ce240536bc5fc9083f42a4e6d1bb83ca63161b8
NFT contract: 0xf6d767ed934e7b2cbb000d65c1b7fb715f16d74c
Token contract: 0x2eb3a860ddd8bc2b2621aa99168d414c14802c9f

No, we use NFT ownership to access treasury. NFT owners may lock USDT to mint our token (XYZ) and burn token to unlock USDT.

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Thank you for applying for a grant. A few questions below:

  1. Can you please provide workflows between the contracts mentioned above?
  2. Other than using OpenZepellin, what are the security considerations you have made when building the contracts? Are there any monitoring tools integrated into your application in case of a hack?


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1 Like
  1. BuyAndBurn contract: 0x3Ce240536BC5fC9083F42a4E6d1Bb83cA63161b8
  2. LPVault contract: 0xedd7F777E6eF1365195D97727b333C99E165863D
  3. Treasury/Swap contract: 0x59635f7d4f467c1869dd4aa9cd925eb265839666
  4. Arbitrage contract: 0x3ce240536bc5fc9083f42a4e6d1bb83ca63161b8
  5. NFT contract: 0xf6d767ed934e7b2cbb000d65c1b7fb715f16d74c
  6. Token contract: 0x2eb3a860ddd8bc2b2621aa99168d414c14802c9f

User become cult member by minting NFT

  • user deposits 1000 cfx to (5)
  • (5) stake 1000 cfx to PHX PoS Pool
  • (5) mint NFT for user

Buy and burn token

  • every hour (5) claim interest from PHX PoS Pool
  • (5) send interest to (1)
  • (1) buy token from swappi and burn it

Bonding or buy token from treasury

  • user have USDT and lock USDT in (3)
  • (3) mint token (6) to user on price based on bonding curve

Swap or sell token to treasury

  • user have token and lock token in (3)
  • (3) unlock USDT to user on price based on bonding curve
  • (3) burn token

Staking in vault

  • user must have token and USDT
  • user get LP token
  • user stake LP token in (2)
  • every 24 hours (3) will mint token and send it to (2)
  • (2) distribute the token based on user stake

Arbitrage between treasury and swappi

  • sometimes price based on bonding curve in treasury not in synch to swappi
  • if treasury cheaper, (4) will bond for token and sell in swappi
  • if swappi cheaper, (4) will buy token from swappi and swap it in treasury
  • any profit from this directly send to (3)

In the protocol there are 3 contracts that hold valuable assets:
a. NFT that stake cfx to pos pool.
b. treasury that hold USDT and can mint token
c. LP vault that hold LP token

Before deployed we hardfork the chain to ensure above contracts work when interact to external contract (swappi & pospool).
Those 3 contracts also ownable and upgradeable to ensure quick fix if needed.
For every code we run mythril tools to ensure we dont have high vulnerability.
We also have backend code that monitor contract states (hourly pos pool reward, staked cfx, locked usdt, staked lp, token minted, etc). This important value already be shown in on 2nd tab

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Thank you for answering my queries team. Here are few more questions:

  • Do users have to become members first to start getting the LP Token?
  • What is the growth mechanism for countering inflation?
  • When NFTs are minted are the tokens locked under the owner accounts?
  • Who controls the ownership of the Treasury’s wallet?
  • How do you handle risks associated with PHX PoS Pool? Can users connect to any pool they wish for?
  • Is the interest earned hourly?
  • Is the bonding curve defined in the contracts itself or how does it work?
  • Do you have any reports from Mythril?
  • What are the future plans or features for this app?
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No, LP vault open to public

buy & burn from pos pool interest, bonding and swap fee, profit by arbitrage contract, we also have mechanism for dao to control inflation rate

no, its locked under NFT contract address

ownership attached to developer wallet right now

we have nft contract to be upgradeable, we already have some issue on phx about lock/unlock time and it can be resolved quickly. currently user have no choice for pool selection.

most of the time, yes. sometimes pos pool not generated yield for hours and we need to email them. though this happen, it wont disturb the protocol mechanism

yes, its a simple linear bonding curve right now: bonding curve define the price on bonding & swap within protocol. thorough arbitrage, price in swappi will reflect this curve

yes, mythril tools can generate report for every contract and show for its vulnerability

we have plan for nft v2 where staking not on pos pool but on nucleon, to lower entry barrier from 1000 cfx to 1 cfx.
also if the yield on goledo or defi in conflux for stablecoin seems attractive we may custody the stable in treasury there.

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