Yield Optimizer + Ruby on Rails

[Steven-Chang]

btn.group

Project description

We propose building a yield optimizer for the Secret Network.
One which is well documented, easy to understand and easy to replicate

Aim / Mission

Attract more users and developers to the Secret Network.

• What do most users want?
  a. On chain activity showed the highest usage during the SEFI air drop.
  b. People want the opportunity to make money by speculating on new projects and tokens.
• To increase the number of these user-attracting projects, more developers are needed.
• To attract more developers, we need to make it really easy for developers to replicate and launch these financially rewarding projects.

This is why we propose building a yield optimizer for the Secret Network.
One which is well documented, easy to understand and easy to replicate

Detailed product description

Secret Network + Ruby on Rails.
User's stake their incentive earning tokens into our contracts which will compound their earnings (SEFI etc) for them.

Go-to-Market plan

We intend to charge fees for optimizing yield as well as a possible token sale.

Value capture for Secret Network ecosystem

• More users and developers.
• More transaction fees for validators.
• Increased exposure via sites like dapp radar, coin gecko and general mouth to mouth (Dapps such as Autofarm have done wonders for the Binance smart chain).
• Open source fully functioning Ruby on Rails app which will open Secret Network to a massive Ruby on Rails developer community.

Team Website

https://www.btn.group

Team members

• Steven Chang (Full time: developer)
• Chris Asnins (Full time: designer / marketing / content producer / QA)
• Ella Kabel (Part time: data analyst / content producer / QA)
• Fleur Templeton (Part time: content producer / QA)

Team Code Repos

• https://github.com/btn-group

Development roadmap

We are requesting fortnightly payments for 2 full-time employees, 2 part-time employees, plus expenses paid in advance ($15,384 USD paid in SCRT) for a maximum period of 6 months, ceasing once token is launched.

All funding provided will be returned to the Secret network foundation, in value of our token at the start of launch

• Develop btn.group's native token which implements the new SNIP-21 features.
• Update btn.group's transactions page to handle SNIP-21 features.
• Develop yield optimizing contracts.
• Have all contracts audited by Certik or a good equivalent.
• Create front end and backend for yield optimizer.
• Provide easy to understand documentation and instructions along the way.
• Make Ruby on Rails app repository public.

Additional requests (Open to negotiation as development progresses)

• Secret Finance earn listing with either sSCRT or SEFI trading pair.
• Official partnership announcement with Secret Network and SEFI.

Additional notes as requested by @cankisagun

1. elaborate on the vision a bit more (detailed product description part)
   The closest thing that we aim to be initially is what https://autofarm.network/ is doing on the Binance smart chain. Deposit your sefi earning lp tokens into our smart contracts so that we can auto compound for you increasing the interest you earn while we take a %5 fee.

2. Add details on coin model - why will the coin accrue value
   The coin model is still in discussion but we've done a fair bit of research into the tokenomics of other groups and we think the best idea is to use it in a fee sharing scheme as well as governance. We were thinking utility as well, but our research showed that this caused massive issues for the likes of crypto.com.

3. provide a tentative timeline for coin launch
   Maximum 6 months but it's in our best interest to launch as soon as possible for obvious financial reasons.

[Steven-Chang]

Hey guys,
just wanted to post an update to say that the handle function implementation is now live so I will remove this from the application.
Cheers