CFP-2205-04: The Jellyfish CFP: Sustaining Ocean Infrastructure Growth (20 000 DFI) #147
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uzyn
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Votes of the DFX Community Votes: signmessage 8KirKNGVgrsQsmWuy1Ee4ZmsnXVVkAEzh2 cfp-2205-04-yes |
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CFP payments have been processed. Please refer to #140 (comment) for detailed info and hashes. Thanks! |
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Overview
df1qd5ehn5mn68s96cgtdh59p6us84cqukcc75uw7w3028db144473318ae46eff615b2056460ea2c4c958d128517439f01d6bcbe6edDescribe the purpose
Building decentralization "lite" applications on DeFiChain is difficult. Should it be? We asked ourselves that during the early days of DeFiChain founding - WELL OBVIOUSLY NO! The project Jellyfish (name taking a tribute to our logo), initially incubated under DeFiChain as an infrastructure project, was about realizing that future. That future where one could quickly, within reasons, perform a non-custodial decentralization application.
Not many can recall that distant memory; bugs galore as I remember it. With an unfathomably motivated working group, we set ourselves one goal. One all-encompassing goal — "the ability for anyone to create modern lite DeFi applications at scale." It started with 3 packages in a mono repository — today, with over 40 packages across the Jellyfish ecosystem and ocean nodes distributed globally, serving millions of requests per hour.
Scaling Ocean
While the problem we solve at Jellyfish today is drastically different from our inception, our Northstar goal has stayed intact. "The ability for anyone to create modern lite DeFi applications at scale." Today we focus on the latter — on scaling, sustaining innovation, and sustaining decentralization growth.
In the last 3 days alone, we have processed more API calls than the entire month of November.
Since October 2021, we have effectively:
How will the fund be spent?
Ocean Infrastructure Cost
We set aside $4,000 9 months ago for a fleet of 12 medium-sized instances, but that’s just not enough to support the scale of operations we face today anymore. This incredible growth has unequivocally 10x our infrastructure cost. And for that purpose, we are creating a community fund proposal (CFP) to fund the growing infrastructure cost and build up the treasury to take on the next growth horizon.
We have forecasted the cost with 80% Prediction Interval using AWS Cost Explorer. All values are in USD, rounded to the nearest dollar.
We are asking for 20,000 DFI to fund the growing infrastructure cost based on AWS cost explorer estimation. At the price of $4.1/DFI (April 2022), this would provide the Jellyfish Maintainer $82,000 (below the 80% Prediction Interval Max) to run ocean infrastructure for Q2 of 2022.
How does this CFP benefit the DeFiChain community?
This CFP will allow the team behind Jellyfish to further fund the growing infrastructure cost, thus enabling the sustainable growth of the DeFiChain ecosystem as more community developers and users join us on the #roadto50.
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