Launches: Cryption Network

Funding Proposals Grants
1

Name of Project

Cryption Network

Application type

Product launch

Proposal overview

Cryption Network is built by a team who has been building DeFi products for the last 2 year. They have built their products while bootstrapping and so there was no seed round.
Cryption Network is build a suite of products, most of which are on testnet, on the Polygon L2 blockchain.

:boom:PolyDEX - “PancakeSwap of Ethereum using L2 solution having zero gas fees”
PolyDEX is a gasless AMM on the Polygon L2 Solution. PolyDEX will have faeature like Partner pools, elastic farms, IFOs, quick exits to ETH layer 1, as well as community farms.

:crystal_ball:Seer Prediction Market - The Seer Prediction market will be a layer 2 solution which will allow reading and creating predictions on virtually any topic. Matic will allow us to enable
high frequency trades gaslessly. Other prediction markets do not allow high frequency of trades because of the high gas fees on Ethereum. Seer can also be used for insurance.

:books:Defi Stack - There are a few staples that all projects need when thinking about tokenomics, liquidity and circulating supply. Many projects create their own which means projects need to allocate resources away from their central mission. By creating a sno-code platform for these projects we save them time and money. Examples: Staking, Farming, IVCO, timelock, vesting, etc

:large_blue_diamond: About investors
CMS holdings, Sandeep Nailwal (Angel investor- Co-founder of Polygon formerly Matic Network), GravityX capital, Master ventures, Ascensive Assets, X21 Digital, Waterdrip ventures, M AU21, GenBlock, Humayun Sheikh (CEO of Fetch.ai)

Proposal ask

50k

Metrics for success

10k users and $1 million transaction volume across Defi Stack and Polydex (Already done on Polygon)

External links

Website - https://cryption.network
Twitter - https://twitter.com/CryptionNetwork

2 Likes
2

@Tejas0x thanks for your patience. Got a few questions:

  • How different will it be implementing on Polygon vs. at Harmony?
  • Have you surveyed Harmony’s ecosystem for a similar prediction market solution? (checkout HarmonyUniverse)
  • Where is sno-code from? Is it a fork from Pancake, Sushi, Uni or the likes, or written from scratch?
  • Can you describe your team’s background in detail, in terms of their roles and experiences?
  • You mentioned that you’re bootstrapping without a seed round but also mentioned 3 investors, can you clarify which is it, and if investments received, how much was it for and at what value?
  • Which would be the first 3 industries that the prediction market are you going to be focusing your marketing on if this goes live on Harmony? (e.g. sports betting, stock market, politics, etc.)

Thanks

3
  1. There will not be much difference but PolyDEX’s dual farm, staking, and lotteries for partners will benefit the partners and hence the ecosystem highly. We are adding new features to PolyDEX constantly and have somethings cooking in the background right now aswell.
  2. We have seen the prediction market space in Harmony such as SeeMarket. Not only do we think we have a better product because of the features mentioned here.
  3. Defi-Stack the no-code platform is created from scratch and not a fork.
  4. We have an on going series on our Medium but we have been in the space as a services company providing services to a lot of the big crypto companies you will know.
  5. We have not done a seed round but we have done a private round with the above investors and had raised $1.1 million
  6. The markets created on Seer the prediction market will be decided by a community vote.
1 Like
4

Upon reviewing Cryption, since it’s not launched on other chains yet with product-market fit, this will be a Launch category. Will your team abide by the funding milestones based on Harmony Grants and Investments (Paused) ?

Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each: $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

5

Yes. We will. Grants will help us in incentivising users. We believe that a bit of marketing help from Harmony will help us the most.

6

@Tejas0x Approved for $50K Launch under these revised guidelines. We look forward to having your team launch on our Testnet to be tested by 100 community users. Congratulations and thank you for choosing Harmony!

Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each:

$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)

We recommend a 5-out-9 multisig account on Gnosis Safe with 3 governors from the project team, 3 governors from the project community, and 3 governors from Harmony DAOs – namely, ONEcommunityDAO, ONEdeveloperDAO, ONEincubatorDAO.

In all cases, we ask for 3-month exclusive campaigns with Harmony before more porting with other chains. We also offer follow-on investments – see 50 Investments ($20M) above; but, at the moment, you must have an outside, lead investor for us to match the funding terms. All codes, development materials and production assets must be fully open, preferrably with MIT or BSD licences; weekly updates must on sent on forum; and, all server deploys or mobile apps must be easily clonable.

7

Hello EveryONE!
Our PolyDEX app is LIVE on testnet please do check it out and send us any feed back on our discord.

8

Hey guys we have been approved for a grant on harmony for a DEX. (DEX aggregator soon)
PolyDEX is an AMM decentralized exchange on L2 that rewards liquidity providers with CNT tokens.

After successfully launching PolyDEX for the public on Polygon, We are happy to share that the PolyDEX is now live on the harmony testnet.

Test App: https://polydex-harmony.netlify.app/

We are also going to be launching a no-code platform SAAS platform called Dappfactory.
Website: https://dappfactory.xyz

Join our community :point_down:
Telegram

9

Nice touch with the mascot! TestNet looking good

image
image2404Ă—1432 257 KB

10

@Tejas0x you submitted for $20k.

in addition to the $10k testnet milestone, what is the second milestone?

11

hey @lij!
We have submitted for the following milestones.

  1. Testnet milestone - $10k
  2. Creation of multisig - $10k
12

funded: Harmony Blockchain Explorer

13

@Tejas0x, keep the community posted on recent updates. We would love to hear from you. Thank you

14

Hey Everyone! We are working on trying to connect with other DEXes for getting out DEX aggregator live.

We are integrating them before we launch on mainnet. We have decided to directly use a DEX aggregator rather than just deploying the DEX.

1 Like
15

Hey @cheualx @Jacksteroo. We are ready to launch our DEX and we just wanted the green signal from yall. So we can coordinate tweets and marketing. LFG!!