Conjure - Synthetic Assets Framework and Decentralized High Scale Data Framework

[Conjure]

Name of Project / DAO / Company

Conjure (relaunch)

Application type

Ports/DAO Formation/Partnership

Proposal overview

Conjure allows anyone to create tokenized assets on Harmony representing any asset you can imagine. The resulting Synths are fully collateralized and have their collateralization and value pegged via a powerfully flexible ability to combine multiple arbitrary price sources to produce a single reference price.

Conjure is permissionless (akin to Uniswap or Balancer) and permits the creation of assets representing - for example - synthetic currencies, tokens from other blockchains, real world commodities, and exotic assets such as basket currencies and indices.

By allowing Harmony to have a way for synthetic assets to be used and traded onchain, traders for Crypto and non Crypto assets can use the network rather than centralzed exchanges, and create high network use and demand. As the available synths scale and more users are brought on, Crypto networks and can scale use cases to traditional markets and open access to those markets.

Open Oracle Framework is an open source, permissionless, flexible and robust framework for Oracle deployment with multifeed support, subscriptions and instant deployment that we created to be able to access offchain data for new synths.

Open Oracle Framework’s a framework for permissionless oracle deployment and robust and flexible on-chain oracle feeds. Oracles are simply multi-party median value feeds, but you can even implement your own price logic through a dedicated proxy owner, which itself has it’s own price logic. The median value model takes the value for n signers, uses the median value submitted, makes sure that m signers for the m/n threshold has been met and returns the value. The oracle can require a small fee for subscriptions to feeds to cover gas fees, and are able to provide many feeds from 1 contract, allowing for highly efficient, scalable feed submission and retrieval.

OOF was designed for projects, users and providers to easily create new feeds and oracles for Ethereum and other networks to have access to offchain data in a decentralized and open market model. By allowing for anyone to create an oracle with minimal knowledge and time, and setting up decentralized providers that are robust, flexible and secure (with enough signers), feeds can rapidly scale and with them, the services that these networks provide can scale rapidly aswell.

The projects been deployed to Polygon/Ethereum but was done before Crypto started the run from 1k to 5k and we had trouble getting users as we are a 2 man team with no influencer connections. We have since purchased back almost all tokens and are looking for chains that have both high scalability and low fees, and are willing to help us achieve what we see possible.

We are requesting $1,000,000-$4,000,000 to help bootstrap a small-med team, fund marketing and give the project a real shot. Further we can help other projects use our oracles to access offchain data to even further the ecosystem outside Conjure.

Milestones

• Created and deployed both the Synthetic Assets Framework and Oracle Frameworks
• Audited by 2 independent audits
• 250 feeds with 1 tx

We want to relaunch and achieve what we set out and let users be able to access markets for currencies, commodities and more fully onchain.

We need both support for user acquisition and marketing so users and projects know what we have made as well as funding to expand beyond 2 developers.

Team

Pr0 - Previously helped cofound cryptodevs, Indexed, have made many small projects that are highly technical. Founder.
GitHub
@ pr0toshi
@ Keychain-Inc

Mario - Cofounder and technical lead. Created the node and cocreated the contracts.
@ richance

Proposal ask

$1,000,000 - $4,000,000

Justification

$1m would allow us a small team to create a small presence organically and have some funds for marketing, development while up to $4m would allow us to increase scope to not just synths but oracles for other projects allowing more data and use cases for the Harmony ecosystem and growing both symbiotically.

$4m Would allow for higher quality audits from more expensive parties, higher reach marketing campaigns and development for the oracle node infrastructure and helping achieve high scale public data. As well as oracle upgrades allowing for byte data not just uint.

Metrics for success

Synthetics
Users - Both holders and traders
TVL - collateral and synth
Volume for trades

Oracles
TVL using feeds
Projects using feeds
Data availability
Oracles deployed

External links

Site

Conjure

OOF Explorer Rinkeby

GitHub

Conjure

Open Oracle Framework

GitHub - ConjureFi/OpenOracleFramework

Docs

Introduction

Links

[cheualx]

I’ll review the proposal and respond back of feedbacks.

[Conjure]

Thankyou. Think much harder for us to clearly define the funding amount as well as type as really depends on what aspect Harmony want to engage with and how much. Say being more interested with the Synthetic Assets or more interested in the oracles or both, and the desire to leverage both through a more exclusive approach and tighter partnership or more peripheral approach and hands off / non partnership.

But hopefully the GitHub and docs shows not only that we are highly capable, but that theres not even speculation risk as to vaporware as all done, implemented and audited, and now just need resources to put the tech to use.

[Conjure]

We have made improvements to the front end for the oracles

[Conjure]

Btw the above funding is under the assumption that Harmony would want exclusivity to the protocol to create an advantage for Harmony as a high-scale data network for projects. Should Harmony not require or desire exclusivity and simply want access to the infrastructure for projects, we can bring the requested amount much lower to $250k, with an allocation going to Harmony aswell in tokens.