Name of Project
MtopSwap – Multi-Swap Aggregator & Software Development
Proposal overview
MtopSwap is a Software Development project and DeFi Platform creating a suite of tools and emphasizing user experience via a focus on clean, simple, and user-friendly interfaces. We will destroy browser tabs and streamline the end-user trading experience by having multiple swaps from all major AMMs on a single, minimalistic page (“multi-swap aggregator”). This will be just one of over ten products and features planned and described in our Whitepaper. Notably, we will also display a price chart for each swap module with 5-minute, 15-minute, 1-hour, 4-hour, and 1-day time frames, so you will never have to leave the page to make that trade.
All of this will be powered by a monetization model that has proven success for decades - renewable subscriptions. After a 7-day free trial period, full access to MtopSwap’s features requires users to mint these Subscription NFTs (MPass) on the MtopSwap.one website using a dual mint of 50% $MTOP and 50% $1USDC. The amounts will be pegged to ~$30 USD (30 days), $70 USD (90 days), or $250 (360 days). In this way, we will be a utility driven SaaS.
The NFT expires after the chosen time period and users can choose to renew the following month if they found our software useful. This recurring subscription model is extremely unique in the blockchain space, and will incentivize repeat visitors and direct utility for $MTOP with the goal of becoming a self-sustaining organization via the usefulness of our proprietary software.
Note: our initial product is NOT a typical price or liquidity aggregator, this is an innovative multi-swap aggregator. We plan to eventually add a more typical liquidity aggregator as soon as we release our initial mainnet product in early August. Along side this and staking on Harmony ONE exclusively, we will aggregate DEXes from other EVM compatible chains including MATIC, AVAX, FTM, Aurora, BSC, and eventually ETH.
MtopSwap prioritizes user experience (UX) and user security first in everything we do. In order to fight back against the prevalence of honeypots, rug pulls and scammers, we are integrating blacklist wallet detection into our swaps. We have already compiled a comprehensive list of over 250 wallet addresses that are tied to known scams and we will leverage this to warn users before they swap their $ONE. These concepts are revolutionary because they are preventative. We can help stop the problem before it happens by keeping our community educated and by creating useful, user-friendly tools that filter out the majority of scammers that currently run rampant on the blockchain. We realize that scammers evolve, and we will too.
Additionally, we will take a sustainable approach to our liquidity pool offerings (Q2 2022), with MTOP/ ONE yielding a stable 15% return annually in $MTOP. Rather than high APRs that attract mostly one-time buyers, our value is in $MTOP utility & quality of use.
Proposal ask
$75,000
The project has garnered not only the commitment and trust of our organically-grown community, but also OTC funding of $37,000, which is sufficient to finalize development and to continue our upwards growth trend. More importantly, we are applying for this grant because we would like the opportunity to establish a safe, educational, and utility-driven set of tools on the Harmony blockchain. We would also like to use this as an opportunity to further our community outreach capacity by introducing ourselves to the Harmony team via our tools and our vision for how the blockchain can become a more user-friendly and productive space.
Our team is asking for a $75,000 grant in order to build and maintain the MtopSwap suite of products by bolstering our development team to ensure that our product remains relevant as the Harmony blockchain grows. We will use these funds to accelerate the growth of not only our project, but more so the Harmony ecosystem as a whole. How can we achieve this? By providing the proprietary level of value that MtopSwap represents. With Harmony’s focus moving toward developers on-chain who are sticking around and dedicated to building during difficult times, we hope protocols like MtopSwap are noticed for their ability to provide unique and useful tools for Harmony users.
Current State of Product
- Whitepaper published
- Multi-swap aggregator on Mainnet for weeks. Any Harmony Team member may reach out to us and see the Proof of Concept in motion.
- 3 Smart Contracts - Price Oracle, NFT MPass Mint Contracts, and Staking Contract (stable 15%) on testnet and soon mainnet.
- $MTOP listed on SushiSwap (371 unique holders; Liquidity: $16K)
- 5 of 9 Multi-signature Treasury created: 0x85576752dA7CF103EcD297cc873A222DD727B470
- Discord community: 932 members
- Twitter community: 886 followers
- $4,800 in pre-sales in 4 days
Justification
As a user–centric team, we are driven to create tools and automations that benefit traders. We’re bringing innovation and necessity to the Harmony community with our ideas and tools. Creating peer-to-peer level education that is incentivized by rewarding trading habits and tools that encourage safe, streamlined blockchain interactions is essential. By implementing features such as multi-swap aggregation with attached price feeds, honeypot detection, wallet blacklisting, and a full portfolio manager including bookmarks and transaction visualization, MtopSwap will forever change the reputation of trading within the Harmony ecosystem.
This approach is fresh, built from scratch, and needed. Many projects simply fork the Sushiswap front-end code, which has 100,000+ lines of code. Our front-end, custom built from scratch, has just a fraction of the amount of code compared to Sushiswap and is heavily optimized for speed and end-user experience. As a result, we designed our swap with user experience, speed, and security in mind.
Given current market conditions, it is of utmost importance to become self-sustaining as soon as possible. We hope to provide a solid economic foundation for protocol growth by utilizing a unique tokenomics model via NFTs as recurring subscriptions.
As we add price feeds, “module layouts” (preset dashboard configurations), and liquidity aggregation/automation, safety features, and importantly crosschain integration, interest will climb dramatically. Our target for October 2022 is 1,000 daily active users, which could generate over $30,000 to the MS Treasury each month while creating significant utility for the $MTOP token, and continue to develop valuable features after mainnet launch.
Metrics for success
- $10,000 upon the launch of a feature-complete product on the testnet
- $10,000 upon forming a with 5-out-of-9 multisig
- $10,000 upon initial product launch on the mainnet with staking
- $10,000 upon TVL of $100,000
- $10,000 upon maintaining an average 500 daily active users
- $10,000 upon forming an LLC and completion of Q3-4 2022 milestones
- $15,000 upon mainnet completion of Q1 2023 milestones
Team
*HarmonyWon#8073 - Founder & CEO
*sznal#6969 - Systems Engineer
*0xAlexander#2222 - Treasurer
*Paradox#0420 - Community Manager
*Pioneer Emory#9504 - Business Development
External links
MtopSwap Whitepaper:
https://mtopswap.gitbook.io/mtopswap-whitepaper/
Snapshot vote (ends July 1)
https://snapshot.org/#/harmony-mainnet.eth/proposal/0xc47bb9e377189d68472eaabf7ad7dcc87692ce4c9e389248d2dc2c50dca6bbfb
MtopSwap Discord discord.gg/5DVuGYwJfS
MtopSwap Twitter: @MtopDegen
Website (TBA): mtopswap.one
Token:
dexscreener: /harmony/0x36a7e3028277899f18d595933316510b94acac3a
Tutorial of Proof of Concept with walkthrough:
Commitment to the Harmony Community
We take a user-centric approach to developing software and features that provide immense utility as well as the appeal necessary to bring people together. We believe that providing a utility-driven home for traders to spend their time encourages both education and growth. So far, we have had nothing but a strong community of committed and helpful individuals join our Discord. We hope to assemble a resilient user base that can both benefit from the exceptional capacity of MtopSwap while also giving back to the community through encouraging interactions and the sharing of knowledge. We will continue to build an organic membership that fosters learning and shares the power of our tools with people from all experience levels.
Below is a brief explanation of our first 2 feature releases - multi-swap aggregation and price feeds.
