Technical Grant Application - Lossless Lotto

INTRODUCTION

Lossless Lotto is a lossless lottery dapp for cfx token. Build on top Flux Platform https://flux.01.finance
users will stake in Flux via Lossless Lotto smart contract. The interest from Flux will be pooled together and become daily reward. Users have chance to win this reward based on how much their staking versus total staking. User also have no loss (lossless) because they can withdraw their staking anytime.

The project will benefit conflux ecosystem, by reducing amount cfx on circulation because of staking.

TEAM
AbigaelDev:

anon but may disclose identity to grant commitee
full stack & game development with 13 years experience
4 years blockchain/smart contract experience
winner of 4 blockchain hackathons on devpost and gitcoin
member of indie game studio for 13 years
currently work on startup that use blockchain as proof of traceability
main developer of Traderbot X https://traderbotx.space

TOTAL BUDGET AND FUNDING TIER
The tasks projected to be finished within 1.5 months (30 days/6 weeks/4 hours daily)
30 days x 4 hours x 60 usd x 1 man power = 7200 usd

CURRENT FUNCTIONALITY: not started

TECHNICAL PROPOSAL

Smart contract will have functions below:

  • stake cfx
  • calculate chance based on amount stake
  • restake into flux
  • retrieve interest from flux and send to daily pool
  • retrieve bonus token from flux (zo) and send to daily pool
  • set daily winner based on random number
  • withdraw reward for the winner from daily pool
  • unstake cfx from flux and withdrawed to user wallet

Frontend to operate the functions above.

DEVELOPMENT ROADMAP

Week 1:
Researching flux smart contract
Deliverable: A basic smart contract that interact to flux (deposit, withdraw, take interest, take zo) will be available on github. It will be deployed on espace mainnet and verified, so grant comittee may test it using confluxscan.

Week 2-3:
Lossless lotto smart contract development.
Deliverable: Working smart contract for lossless lotto will be available on github. To test it grant comittee need to fork espace using hardhat.

Week 4:
Frontend development
Deliverable: Front end source code will be available on github. It will be deployed on free server like heroku/vercel

Week 5-6:
Mainnet launch and test
Deliverable: Latest source code available on github. Smart contract will be deployed in espace and frontend will be available on heroku.

MAINTENANCE CONSIDERATIONS

All smart contract will be verified in confluxscan and open sourced. Frontend code will be opensourced and deployed on our backend.

For maintenance & minor bugfix, additional budget: 4 hours/month x 60 usd = 240 usd/month = 2880 usd for one year

2 Likes

Hello @AbigaelDevina
Thanks for applying fo this grant. I have some questions:

  • Is there any part of the project which is NOT open source?
  • Can you describe the exact deliverables you will include on each milestone?
  • Are you planning on forking PoolTogether or any other project? Or do you plan to build everything from scratch?
  • After the project is launched, who will be in charge of managing the project and supporting its adoption in the Conflux Community?

Hi @Nico thank you for the response.

No. All part will be open source.

I have edit the proposal for deliverable. The chalengge will be for grant comittee to test smart contract connected to flux finance, which not available in espace testnet. Grant comittee need to fork espace to do this (intruction will be given)

It will be build from scratch

The proposal scope only to have working product available on espace. I have added some budget for maintenance and minor bugfix at the end of proposal.

To grow lossless lotto for full project/startup (dao, token, more features, growth), we may ask for growth grant later or may be doing ido.

1 Like

Why not use PoS staking instead of Flux? The returns are much better on PoS and can be withdrawn every hour but staking unstaking takes 7 days