Name of Project / DAO / Company
Application type
Launch
Proposal overview
At FarmersOnly Finance, we have already launched our farm alerting service (Cryptina), multi-chain farm analytics, $FOX Token, Farms, and auto-compounding Vaults. The DApp been live for about 2 weeks, slowly gaining users and exposure. We are at a stage where our technical architecture has been implemented and our focus is shifting on growing our community and gaining credibility in the across the DeFi space. One of our short-term goals is to obtain an audit from a credible auditor, which current pricing is ~$20,000. In addition to analyzing our technical position, we are working to move forward with ways to create exposure; we’ve investigated avenues such as purchasing banner advertising space, rebranding, restyling the front-end, and increasing our social media presence.
Currently there are 2 of us actively building and maintaining the app (on-top of both of our full-time engineering jobs). This can make it difficult to balance these enormous priorities and the solution is more team members. Part of the grant is allocated to finding talented individuals to assist us in community management, marketing, and especially engineering for future roadmap goals.
We are constantly building on top of this app and some of our roadmap items include:
- Automating the bridging process to make the barrier to entry much lower, thus increasing people’s ability
to move money onto Harmony chain. - Integrating a ‘Zapper’ smart contract to automate process of creating LP coins for earning yield for
multiple DEXs on Harmony. - Creating auto-generated NFT foxes and extending our app and brand to integrate more creative
pursuits - Creating content to explain the DeFi space in order to lower the barrier to entry for Harmony yield
farming.
Proposal ask
Quote from original thread:
“”"
I’d suggest we switch this to a Launch category, and add some more funds to help with connecting with an auditor. Based on this … We recommend a $50K equity-free contribution:
- $10K after launching a feature-complete product on our testnet,
- $10K after mainnet launch,
- $10K after forming a DAO with its community, and
- $20K for after 10K users
“”"
$50K
Metrics for success
- TVL of vaults
- Num of unique farms/sites integrated into vaults
Vaults (Live)
- Number of unique wallets/users interacting with vaults
- Increasing 15% month over month
- Vault % of underlying yield farm
- Vault TVL increasing
Zapper (soon)
- Number of unique wallets/users interacting with Zapper
- Increasing 10% biweekly
- Number of Support LPs
- Total Assets Zapped
- Increasing 10% biweekly