Ports Funding Proposal: Dopple Finance

Name of Project / DAO / Company

Dopple Finance

Application type

Ports

Proposal overview

Dopple Finance is a stablecoin exchange platform with low slippage and low fees.

Our stablecoin swaps use the different algorithms from generic automated market makers to make a better rate for stablecoins. Our platform also has its own stablecoin, KUSD, which is fractional-algorithmic i.e. it is partially asset-backed and partially algorithmic depending on the market.

Our platform on Binance Smart Chain has reached more than $1.2 billion of total trading volume since its launch 6 months ago. We are currently having a $10 million Total Value Locked and growing.

Our team is aiming to expand our service to multiple chains. As Harmony One ecosystem expands and grows, it’s natural to include more variety of stablecoins for users to circulate in the economy. Therefore, our stablecoins swap will serve as an instrument to help transform Harmony One ecosystem for the better.

Our goal is to provide Harmony One community with a low-slippage swap which will further incentivize fund flows and investments. Dopple will help reduce the cost of on-chain trading, especially in large volumes. In the future, we want to streamline and simplify the user experience for both DeFi investors, and newcomers alike. We are also working on Dopple Academy, which allows users to learn the fundamentals of DeFi and onboard more users, both for our platform and Harmony One community.

We are looking to expand our service on October 2021 with a simple stablecoin exchange and later open up for more possibilities and grow together.

The funding we received will be spent on:

  • Incentivizing users to participate and provide liquidity on our platform, which would drive the growth of our platform and help with the ecosystem altogether.
  • Drive marketing attempts by working closely with the community and encouraging integration with other platforms

Proposal ask

$200k

Metrics for success

In a Year

  • 6,000 transactions/month
  • $1 Billion trading volume/year
  • $50m Total Value Locked on Harmony
  • 50k+ Followers on Telegram and Twitter

External links

57 Likes

I think it would be nice if Harmony One has a stablecoin swap platform. I believe it’s going to increase the tvl and facilitate other dapps to migrate to our chain.

15 Likes

I believe that Dopple is one of the best stablecoin swap platform, with the high trading volume and strong community. We’re ready to show support and adopt Harmony to be our ark.

12 Likes

Dopple is a good platform

7 Likes

Oh my goodness I can’t believe this platform will come to Harmony One.

This is a Great best rate Stable swap in BSC :+1:

7 Likes

Nice move. One for all and all for One.

Together is better

Harmony one !!!

5 Likes

Nice concept btw keep going on dude :drooling_face:

5 Likes

stake Dopx earn one Go moon !

5 Likes

Such a great start, congrats for both Harmony One and Dopple Finance. Hope this will be an opportunity to expand your platform bigger and stronger. :hugs:

3 Likes

Would you mind providing information regarding budget plan for the 200k ?

2 Likes

I’m so excited. Harmony One x Dopple will be the great collaboration with high synergy. Dopple’s stable-coin will be the backbone for Harmony One. This truly opens opportunities for defi-users. Looking forward!

4 Likes

Good to see Dopple as an exchange for Harmony one. Looking forward !

2 Likes

@Dopple we’re sensing crypto shilling activities on this thread. Please inform your community members to help provide more insightful feedbacks and maybe even post additional insights that may be a gap in this proposal. Thank you.

6 Likes

Nice project with a great future

3 Likes

Having stablecoin swap is one of the core requirements of how blockchain ecosystem will grow. Dopple Finance is yet another platform that allows users to swap various stablecoins with an exclusive best-rate swap.

Dopple Finance uses its unique routing algorithm to find the best rate swap for all stablecoin pairs and had been proven to be the best rate for months in Binance Smart Chain. Thus, expanding to Harmoney One potentially benefits users as they can swap stablecoins with lower slippage.

Dopple Finance also have their own stablecoin named Kelly USD (KUSD) which are shared in almost all of their pool. KUSD use fractional-algorithmic approach to mint KUSD using USDC and DOPX (their governance) as their collateral. KUSD price is governed by their price in LPs and arbitraging mechanism.

As Dopple Finance is expanded to Harmoney one, the LP staking rewards will incentivize users to stake their stablecoin for a yield. However, in order to provide liquidity, they must also use KUSD (as KUSD is a part of all pools). This means that the more TVL in the system, the higher the DOPX price will be pushed allowing more incentives for users to stake more stablecoin. In addition, the larger the LP, the better the swap rate can be achieved. This positive feedback loop not only benefits the platform but also Harmony as well! As the higher, the TVL growth, the better rate swap the platform will be.

To sum up, Dopple finance is one of the best stablecoin swap platforms as it provides a best-rate swap for users. Their growth in TVL means a better stablecoin swap rate, which allows Harmony One users to swap their stablecoins with low slippage and thus, strengthen Harmony One ecosystem.

As a Dopple Finance user since their first day of launch, I hope Harmony Team considers accept their proposal!

16 Likes

Here is the approximate breakdown of the funding:

50% of the funding ($100k) will be used to incentivize users to provide liquidity (in the form of ONE or DOPX token, our governance token).

To keep the liquidity sustainable, we believe that a lot of funds will be needed to keep the liquidity liquid
25% of the funding ($50k) will be used for marketing purposes, bringing people on-and-off Harmony One ecosystem to use the product, together with collaborating with other platforms in the ecosystem.

25% of the funding ($50k) will be used to fund the development and maintenance of the platform, as well as improving the security of the platform with audits.

12 Likes

Nice Project hope you grow sustainably.

3 Likes

I Love that project :+1:t3: :+1:t3:

3 Likes

Are you planning on integrating Twindex too?
A platform for synthetic assets would be great for Harmony.

4 Likes

We do. It is always good to start off and test the new market with Dopple due to its characteristic as a stablecoin exchange that always has a demand. Once Dopple hits the new market with a positive impact, we will introduce Twindex as an alternative lower-risk investment solution (comparing to crypto-assets).

8 Likes