Name of Project / DAO / Company
Curvy Finance
Application type
Launch
Proposal overview
Curve.fi is a decentralized currencies exchange. It allows the trading between coins like USD, EUR, etc… with minimum fees and slippage. It is the oldest project that is the building block of modern decentralized financial systems and now has been deployed to many blockchains including Harmony. This paper will show a project which is related to Curve.fi
A Protocol/Owned liquidity sells tokens as bonds. The current deployment does not support protocol/owned liquidity and therefore there is no incentive system to deploy new pools. We are willing to fix this and create incentivizing system that encourages to add liquidity to the pool and/or create new pools approved by the DAO.
Curve runs like the following ways:
Curve runs like the following ways:
- There are some incentivised trading pair (like USDT-USDC-DAI) which allows user to exchange between those 3 coins without much impermanent-loss, and to do that, it needs enough amount of liquidity to the pool. To incentivize, they give depositors their own coin (CRV) to deposit in the form of yield farming.
- Curve also allows custom trading pair to be generated and therefore the developer of a new project can also themselves create a trading pair for their own coin. There has to be trading possible for any coin to be valuable.
The problem with Curve on Harmony now is:
- There are only two trading pool and there is no UI to produce more trading pools, which makes the whole advantages useless comparing to other chains like Polygon, Ethereum, Avalanche.
- The UI is outdated and not user-friendly (https://harmony.curve.fi)
What we can do is to build a new UI app on top of the Curve smart contracts, which does the same features as the standard Curve app, but in a more user-friendly way. We will also extend the UI to support a custom trading pool, which allows more trading to be possible.
We will do the user acquisition using relevant social media channels, trying to achieve bigger market share. The DAO will use a Discord channel / server for communication. The community managers will first work on a voluntary basis but be incentivized with vested tokens that can later be converted.
Token details:
Ticket: CRVY
Total Supply: 1 000 000 000 tokens
Distribution: At first, 35% of the total supply will be minted:
10%: Developers team and community managers (vested gradually over 2 years)
15%: Development Treasury, used for creating initial liquidity for the CRVY token, used for marketing etc…
10%: Initial funds for bond sellings. These token will be distributed through selling CRVY-DAI LP
The vested tokens will be minted in the form of vCRVY, which can only be converted to CRVY gradually (there will be a contract to claim them)
The rest of total supply will be minted through Yield farming (listed above)
CRVY utilities:
All Custom factory pool maintained by CRVY will have the fee of 0.08% for each transactions, all of the fees are collected for CRVY holders (i.e holding CRVY will earn the trading fees). In order to earn the trading fee, users need to lock the CRVY token with vested period of 6 months each (lock into veCRVY token)
The vested tokens could be converted as real pool shares later. Jarvis, can you think about the vesting period and the details.
Team
Technical lead & Development;
UX/UI Design;
https://www.linkedin.com/in/phucd/
Proposal ask
50k USD
Metrics for success
Accordingly.
$10K after launching a feature-complete product on our testnet
$10K after forming a DAO with 5-out-of-9 multisig with our DAOs
$10K after launching on our mainnet with audit
$10K after 1K daily active users (with launch video, full PR promotion)
$10K after 10k daily active users (with a detailed roadmap, governance process)