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