TECHNICAL GRANT APPLICATION - ENCENTIVE.IO - TIER 2

TECHNICAL GRANT APPLICATION - ENCENTIVE.IO - TIER 2

APPLICATION INTRODUCTION

  • Purpose of the system

The purpose of Encentive Web3 OS is to bring more adoption in the form of traffic/users and TVL to the ecosystems integrated with the protocol. The objective can be achieved by equipping the DAPPs existing on top of the Conflux Ecosystem with easy on-ramp/off-ramp payment channels as well as a chain encapsulation feature allowing the users from different chains to seamlessly interact with the protocols developed on Conflux.
Encentive.io will also allow 3rd party protocols from Conflux Ecosystem to easily develop their own cutting-edge DeFi features by providing user-friendly development tools. These include features such as the deployment of DEXs, LP Pools, Single-Asset Staking Pools, Community Airdrops, and more.

  • Scope of the system

The system consists of:

  • Host Network - Decentralized cloud service providing the runtime environment for all system services and Encentive applications;

  • System Services - common services for 3rd party protocols including Hybrid Payment System and chain encapsulation, tools for developers to build the applications based on aforementioned services;

  • Encentive UI - user-friendly front-end interfaces where users can interact with all deployed DAPPs which can be provided in the form of the web applications, SDKs, and more.

  • Objectives success criteria of the project

Successful technical integration with Convex Ecosystem.
Integration of Web3 OS with DAPPs and smart contracts deployed on top of the ecosystem, including the usability of features provided by Encentive.io

  • References

Website: Encentive.io
TG: t.me/Encentive_official
Twitter: twitter.com/Encentive_io?s=20
Medium: medium.com/@encentive

TEAM

Ty Shen - Co-Founder - former CTO of Alchemy Pay, A two-time founder in VR(Tsing Visual, acquired for in 2016) and watch-to- earn app(JiHao App, 3M registered users, 300K DAU at its peak), Major in Mathematics and Software Development, Tsinghua University graduate.

David Rutkovsky - Co-founder - Former CTO at Fragma Metaverse as well as a Senior Business Consultant and a Business Advisor at Blockchain Global, a Senior Full-stack Software Architect/Solidity programmer by profession, A PhD graduate from The University of Gdansk (Poland).

Edward Sung - Co-founder - Co-Founder of Alchemy Pay and Hashworld (A blockchain game selling virtual real estate). Edward acquired 1.5m users in less than half of a year, former CEO of VR Company sold to a pre-IPO company in 2016, rich experience in product design and exceptional financial expertise.

Shawn Shi - Chairman & Advisor - founder of Alchemy Pay, Chairman for The Blockchain Infrastructure Alliance (BIA), which brings together the leaders, innovators, and experts shaping the blockchain industry, Brand Management Expert and author of several professional books.

Skyler Harris - Marketing Director - Overall management of company and content governance committee, over 10 years of experience in content production and market strategy, former Byte Dance executive with extensive industry network across North America .

Russ Sadyrov - Brand & Design Director - Responsible for artistic design, renowned International Designer with over 10 internationally recognized awards, former Head of Design at 4A advertising agencies; managed projects include Olympic Games, DreamWorks, Samsung, Armani, P&G, Nestle and more.

Peter Rolufs - BD Director - more than 20 years of management experience, formerly executive from IBM, ACCJ, Northrop Grumman managing corporate business development, well-versed in European, America and Asia markets, particularly U.S. and Japan, well-connected among international media outlets and KOLs.

Robert McCracken - Research and Development Director - 15 years of content development experience, 3 years of blockchain research, mentored by Professor Gary Gensler, the current head of SEC, MIT graduate.

TOTAL BUDGET AND FUNDING TIER

Funding Tier 2; total: $15,000

CURRENT FUNCTIONALITY

Customer Problems/Issues

  • Necessity to use advanced bridging solutions by the users who want to interact with protocols build on top of the Conflux Ecosystem.
  • Lack of seamless payment channel integration allowing the users to easily on-ramp their funds directly onto the Conflux Ecosystem.

SOLUTION:

  • Integration of Encentive.io with Conflux Ecosystem allowing the users of other networks to use the DAPPs built on top of Conflux Ecosystem, seamless handling of the digital asset swaps and bridging solutions by Encentive Host Network;
  • Enabling direct on-ramp/off-ramp platform for the users of Conflux Ecosystem (Visa, Mastercard, BinancePay) thanks to Hybrid Payment System offered by Encentive in cooperation with Alchemy Pay payment infrastructure.

Application Problems

  • Lack of advanced DeFi features offered by the protocols built on top of Conflux;

SOLUTION:

  • Enabling advanced development tools available to 3rd party protocols built on top of Conflux Ecosystem including building blocks for DEXs, LP and Staking Pools, community airdrops, and more.

TECHNICAL PROPOSAL

  • Overview: a functional overview of the system

Features offered by Encentive.io:

  • Hybrid Payment Network;
  • Chain Encapsulation (Multi-chain DAPP Interoperability);

Development Tools for:

  • DEXs;
  • Liquidity Pools;
  • Staking Pools;
  • NFT Marketplaces;
  • Community Airdrops.

SYSTEM MODEL

Please see: https://drive.google.com/drive/folders/1q3VL12cDZgygmRQl-eGdjSc4cHgkUbtn

DEVELOPMENT ROADMAP

Phase 1:
Software Specification: Deployment of DEXs, Staking Pools, Airdrop Modules on Conflux
Funding Requested: $10,000
Milestone Deadline: 08/2022

Phase 2:
Software Specification: Deployment of OTC Modules on Conflux
Funding Requested: $5,000
Milestone Deadline: 09/2022

MAINTENANCE CONSIDERATIONS

Priced in the grant application.

1 Like

Thanks @David_Encentive for submitting your application! Just some clarifying questions on the development roadmap.

Can you be more specific on the deliverables in the development roadmap?
—> Will the full feature set of Encentive be deployed on Conflux? I noticed there are a few things missing from the software specifications in each milestone. I.e. Hybrid payment network, chain encapsulation, Liquidity pools, NFT marketplaces, on/off ramps etc.

What is your current traction?
–>I.e. Can you share how many DEX’s / Liquidity Pools / Staking pools have been deployed? Any metrics around current TVL/ volume across your ecosystem?

Thanks in advance!

1 Like

Hello David, I am interested in the Hybrid payment network, would you please show me some advance features of the Hybrid Payment Network, and the reason why is will help Conflux build a more robustness DeFi building block.

Hi, dear Geoff!
Please kindly take a look at the answers below:

1) Can you be more specific on the deliverables in the development roadmap?
—> Will the full feature set of Encentive be deployed on Conflux? I noticed there are a few things missing from the software specifications in each milestone. I.e. Hybrid payment network, chain encapsulation, Liquidity pools, NFT marketplaces, on/off ramps etc.

A1: Both Cross-Chain Interoperability and Hybrid Payments (On-ramps/Off-ramps) are default features provided by Encentive SaaS Platform. Other services include providing 3rd party protocols with development tools allowing the deployment of DEXs, Staking Pools, LP Pools, airdrops, and NFT marketplaces.

Hybrid Payments make it possible to directly onboard users into Conflux Ecosystem by allowing users to make direct fiat deposits (using Binance Pay, Visa, and Mastercard) and receive assets native to Conflux Ecosystem as an output without the users having to go through CEXs and bridges, which greatly simplifies the onboarding process.

Chain-chain Interoperability (aka Multi-Chain Support) feature allows the users native to blockchains other than Conflux to freely interact with DAPPs built on top of Conflux Ecosystem by automatically generating and executing workflows specific to certain applications including deposits of funds, swapping and bridging of assets.

To answer your question even more specifically:

Deliverables for August 2022 include most of features provided by our SaaS platform (that includes features mentioned above (DEXs, Staking Pools, Airdrops, etc.) and Cross-Chain Interoperability as a default feature).

Deliverables for September include OTC Module, which is a ‘Buy’ plug-in supported by our Hybrid Payment solutions (see the explanation above).

Another features scheduled for October are development tools for deployment of NFT marketplaces.

What is your current traction?
–>I.e. Can you share how many DEX’s / Liquidity Pools / Staking pools have been deployed? Any metrics around current TVL/ volume across your ecosystem?

A2: As of now, we will be more than happy to share with you the data we have available for the chains we are deployed on:

Current TVL: $9.53M

Current trading volume: $2.385M

Supported Chains: ETH, BNB Chain, MAP, HECO, KCC, OKXChain, REI, Arbitrum, IoTeX, Avalanche, Astar, Velas, KardiaChain, Elastos, KAVA, Polygon, Nervos, Double A-Chain.

I hope that answers your questions throughly!

A3: Absolutely. After intergration with Conflux Network, it will be possible for the users from Conflux Ecosystem to use the ‘Buy’ plug-in from the Encentive UI, deposit your FIAT currency using widely accepted payment methods (Binance Pay, Visa, MasterCard), and receive your chosen cryptocurrency native to Conflux ecosystem on Conflux blockchain as an output of the transaction. The process takes up to 3 minutes, and greatly simplifies the onboarding proccess for those who want to participate in Conflux as opposed to having to buy/swap assets on CEXs and move them onto the destination chain.