Project name: DeFunds.co - Decentralized Finance
Author name and contact info (please provide a reliable point of contact for the project): Igor Shepelev
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: Yes
L2 recipient address: 0x92978b0d605c5ec59f9dbd9f11b689604f64ca3a
Which Voting Cycle are you applying for?: Cycle 10
Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Builders Grants
Project description (please explain how your project works): DeFunds will connect investors to the world’s most seasoned and talented cryptocurrency assets managers (in a censorship-resistant and non-custodial way). We connect Investors with experienced managers and provide automated strategies in DeFi. Managers create Funds through the DeFunds factory. Each Fund is its own contract.
Funds operating on each chain are restricted to trading and depositing specific whitelisted assets, along with certain eligible whitelisted protocols. This means each type of Fund may operate a little differently and have different exchanges, protocols, or assets available for managers to utilize. DeFunds will incentivize investors to pool assets with top-performing managers and incentivize managers to earn greater return. We will take BarclayHedge approach to encourage and promote Traders and Asset Managers. https://www.barclayhedge.com/
Website: https://defunds.co
Twitter: https://twitter.com/defunds_co
Discord/Discourse/Community: Telegram: Contact @defunds_co
Other relevant links (including any demos): MVP: QuantHill.defi
Datasheet: DeFunds - Datasheet - 22 Nov.pdf - Google Drive
Additional team member info (please link): Team info: DeFunds - Team Contacts - Google Docs
Please link to any previous projects the team has meaningfully contributed to:
https://quanthill.ae/
https://twitter.com/zkgraph
https://www.tradingview.com/
Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Project is in MVP and smart contract audit stage
Competitors, peers, or similar projects (please link): Our crypto space Ethereum / Polygon competitors of our MVP:
https://midas.investments/
https://www.dhedge.org/
https://enzyme.finance/
Future competitors(our Pole Star):
- APEX group. Apex Group - Single Source Financial Solution Provider
- Amicorp https://www.amicorp.com/
- eToro https://www.etoro.com/
- FireBlockshttps://www.fireblocks.com/
- Copper https://copper.co/
**Is/will this project be open sourced?:**In the Future
Optimism native?:Yes
Date of deployment/expected deployment on Optimism: 2/27/2023
What is the problem statement this proposal hopes to solve for the Optimism ecosystem? Many of the most lucrative investment opportunities are only accessible for financial institutions and high-net-worth individuals, which further expands the wealth gap across our communities. Unfortunately, the lion share of the world’s population do not have access to private equity, hedge funds, and the world’s top financial advisors and traders.
Lack of useful tool for assets management in DeFi (transparent, controlled and trusted Manager - Investor system).
- Lack of Manager control
- Manual fees calculation and collection
- Manager has access to Investors funds
- Time-consuming Fund registration
- Expensive funds registration
How does your proposal offer a value proposition solving the above problem?: We can bring a new experience of interaction between Asset Manager and Investor into the Optimism Blockchain, which has been tested for decades and is the standard in classic hedge funds, with the help of smart contracts and blockchain. We managed to take the age-old experience of the classic market and pack the structure and logic of work into DeFunds and Optimism Blockchain.
We plan to bring a new standard for asset management to DeFi. DeFunds goals is to establish transparent and safe interaction between Investor and Manager, non-custodial crypto-investment platform for trading core crypto assets and DeFi tokens.
We are ready to bring new customers to Optimism Blockchain ecosystem. We are ready to share repo and source code with you. Also, our project will bring professional traders and assets managers to Optimism Blockchain.
Why will this solution be a source of growth for the Optimism ecosystem?:We are ready to bring new customers to Optimism Blockchain ecosystem. Also, our project will bring professional traders and assets managers to Optimism Blockchain.
Has your project previously applied for an OP grant?:No
Number of OP tokens requested: 2500
Did the project apply for or receive OP tokens through the Foundation Partner Fund?:No
If OP tokens were requested from the Foundation Partner Fund, what was the amount?: 0
How much will your project match in co-incentives? (not required but recommended, when applicable): TBD
How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving.): - development team rewards for successful deployment to Optimism Mainnet - 1250 OP
- community / early supporters rewards - 1250 OP
Over what period of time will the tokens be distributed for each initiative? Shorter timelines are preferable to longer timelines. Shorter timelines (on the order of weeks) allow teams to quickly demonstrate achievement of milestones, better facilitating additional grants via subsequent proposals:- development team rewards for successful deployment to Optimism Mainnet - immediately
- community / early supporters rewards - 2 months
Please clearly define the milestones you expect to achieve in order to receive milestone based installments. Please consider how each milestone relates to incentivizing sustainable usage and liquidity on Optimism. Progress towards each milestone must be trackable:- successfully deployed smart contracts set (core DeFunds smart contracts, Aave integration, 1inch integration)
Why will incentivized users and liquidity on Optimism remain after incentives dry up?: Yes
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.):
TESTNET:
FUND_FACTORY: 0x7C9f197f72e46aE389de7bC2F1E2E63dD44de998,
FEEDER: 0x4E1206effe850437D9682Ac39fFE12Bc3c2E7006,
INTERACTION: 0x4A3dFB227881B461a5135EF42360A120bd35DeA5,
FEES: 0x7601DA84e7a35cf9b0AFCB25b7f079cC6e9e2880,
TRADE_BEACON: 0x814C42b37E109677299FCce9eC64C99C0590A62c,
MAINNET:
FUND_FACTORY: 0xd6fA633e0A908574f4144D24490479675D20daF9,
FEEDER: 0xd2f1131Abb18f97c32714693FdE38873EEd2c503,
INTERACTION: 0x13651D71F5B4A8f7d342C9680843409D4E9A171e,
FEES: 0xA6dC86134f841F636c1621ac4089aB7560d2c020,
TRADE_BEACON: 0xFb90C222ed074Ab77d58691c716972F4dDf31C50,
Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions
