Balancer veToken Launchpad - Application

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1

Balancer veTokenomics Launchpad

Project Brief:

Based on the RFP brief, the proposed solution will do the following:

A step by step guide with a set of template contracts for projects to launch a veToken using an 80/20 balancer pool, or weight of their choice.

This would make the smart contract steps for deploying the vote escrow system in Vyper coupled with the locking of a Balancer pool token streamlined for projects to utilize in an open way.

A guide would be one phase of this project, potentially with an interface either deployed or for local uses could be easily accessed by a team to create their own ve system around the pool token

Proposed Solution:

We propose to build a simple Balancer Swap like interface to function as a veTokenimcs creation wizard, for a fast, user-friendly, no-code solution for configuring and deploying your own veTokenomics. With an option to choose from an array of pre-set templates, this feature will further increase adoption among less technically inclined users.

For users who are looking for more bespoke veTokenomics, we will compile these templates alongside with a step-by-step guide and detailed documentation to enable users to copy, edit and redeploy the contracts as required.

Here are some sketches of how the interface could possibly look like:

1492×1214 200 KB

Scope Description & Milestones:

  • Design & Frontend development

    • Branding
    • Mockups
    • UI Development
    • Mobile/Tablet adaptations

  • Integration with Balancer and VE Contract

    • Integrations with Wallet (Metamask + WalletConnect)
    • Integration with Balancer SDK
    • Integration with a customized version of Curve VotingEscrow.vy contract.
    • Implementation of different VotingEscrow contracts if required ?

  • Documentation & Guide

    • Documentation for all included modules
    • Step-by-step guide for launching a veTokenomics

Deliverables:

  • Figma file with Design system, UI System, Wireframes, Mockups, Mobile/Tablet Adaptations
  • Deployed Frontend application & codebase
  • Deployed Voting Escrow smart contracts & codebase
  • Extensive Documentation and Step-by-Step Guide.

Project Timeline:

Work Time Estimate Cost
Milestone 1: Design & Frontend 2 weeks ( 1 Designer, 1 Developer) $10,000
Milestone 2: Integrations 4 weeks ( 2 Developers) $13,600
Milestone 3: Guide & Docs 1 weeks ( 1 Developer, 1 Technical writer) $3,000
Total: $26,600

Our Team:

Magic Powered is a community of senior designers and developers who have been building in Web3 for 8+ years. We provide a full set of services from branding and design to full turn key applications and tokenomics.

In our early days we worked with OGs like Blockscience to bring tools like cadCAD to Web3. Since then we have worked on 80+ projects across a range of verticals from Governance platforms and Wallets, to DEXs and Dev tooling

Case studies:

  • AstroDAO, Primary governance platform on NEAR - We designed, developed and maintained Astro, and its predecessor Sputnik.Fund ( Repos are opensourced). The DAO creation flow in Astro is very similar to the flow of this RFP
  • NEARjs, client facing SDK for the NEAR ecosystem - MP built this opensourced library for the NEAR community.
  • Blockscience Labs, Data science simulation platform - We worked with Blockscience Labs to build out the website, branding and user interface for their first-of-its-kind simulation platform
  • Societal, DAO-as-a-service L1 on Polkadot - We’re working with Societal to design the user interface and build out a L-1 for the their application

More detailed portfolio can be found below

Team members

Denis Krasovskyi - Denis functions as the CTO of the MP community. A highly skilled and experienced Software Developer with 10 years of experience, Denis has expertise in a wide range of technologies, including Solidity, Rust, Node.js, React.js and MicroServices, on top of different stacks and storages.

Github - denys-kras (Denys Krasovskyi) · GitHub

Andrew Sologor - Andrew has 10yrs of Full stack experience. He has been working with MP for the last 1.5 years and in that time has gained extensive experience building smart contracts having built projects on blockchains.

Github - andrew-sol (Andrew Sologor) · GitHub

Vicky Plashevska - Vicky is the Lead designer at MP. For the last two years she has overseen the design department, focusing on ensuring seamless User-Experience and brilliant UIs.

Behance - https://www.behance.net/magicpowered_io

3 Likes
2

Thanks for your application. For transparency, I’ll post my questions here as well.

  1. Can you share any Balancer specific experience with these ve contracts?
  2. Are audits included or deemed not required? If so, explain.
  3. What customizations are included ie token split, lock duration etc
  4. Are you working with projects interested in using this launchpad once deployed?
  5. Does your team have the required capacity with other current projects to complete this work in the allotted time estimates?
  6. For each of the milestones, please share how the deliverables will be proved/demo’d to the Balancer team.
  7. Are there any aspects of this project that are known or potential unknown areas of difficulty/complexity that need to be overcome?

We look forward to you responses!

3

1. Can you share any Balancer specific experience with these ve contracts?

A: While our team does not possess any direct Balancer-specific experience at the moment, we do have extensive expertise in web3 development. We view this as an excellent opportunity to become part of the Balancer ecosystem and are enthusiastic about leveraging our existing skills and knowledge to contribute effectively to the project.

2. Are audits included or deemed not required? If so, explain.

A: The initial proposal does not include an Audit.

It can be added as a 4th optional milestone - 2 weeks - $5000.

Magic Powered has enough capacity and expertise to provide a separate team for common security and quality audit.

Audit includes the following:

Security vulnerabilities - identify common security vulnerabilities like reentrancy attacks, front-running, integer underflow/overflow, etc.

Code quality - ensure the code is written according to best practices, is maintainable, and is well documented.

Logic flaws - review the business logic to ensure it behaves as intended and doesn’t have any errors or exploitable loopholes.

Gas optimization - heck that the smart contract does not consume more gas (Ethereum’s computational cost measure) than necessary.

Compliance - confirm that the code is compliant with the protocol’s standards like ERC20, ERC721, ERC1155, OpenZeppelin etc.

3. What customizations are included ie token split, lock duration etc?

A: We propose flexible customization system with the following params:

Escrowed Token: Projects will have the option to choose the specific token that will be locked in the escrow system.

Token Ratio Customization: We will implement the functionality for teams to customize the token ratio according to their requirements. They can set up an 80/20 Balancer pool or choose another ratio that suits their needs.

Lock Duration Selection: Projects will have the option to choose the lock duration of their tokens. This flexibility allows projects to align the token lock duration with their specific project roadmap or tokenomics model.

Slope Customization: Our solution will provide the option to choose between linear or step slopes for the vote escrow system. This feature provides projects with more control over the distribution curve of their tokens.

Escrow Parameters: Projects will be able to define specific parameters for the vote escrow system, such as minimum and maximum lock durations and the number of tokens that can be locked.

4. Are you working with projects interested in using this launchpad once deployed?

A: Currently, we are not collaborating with projects interested in utilizing this launchpad once it is deployed. However, we are more than willing to offer comprehensive support and assistance to the first projects and the community as a whole during the initial stages of launchpad usage.

5. Does your team have the required capacity with other current projects to complete this work in the allotted time estimates?

A: Absolutely, our team possesses the necessary capacity to accomplish the work within the given time estimates. Rest assured, we will allocate a dedicated team to this project to ensure its successful and timely completion.

6. For each of the milestones, please share how the deliverables will be proved/demo’d to the Balancer team.

A: Regarding each milestone, we will demonstrate and share the deliverables with the Balancer team as follows:

Milestone 1 - Design and Frontend: We will present the Figma Design file showcasing the planned design. We will provide access to the Deployed Launchpad website, allowing team to explore the user interface interactively. Furthermore, the complete codebase will be made available on Github for review.

Milestone 2 - Smart Contracts: Once we complete this phase, we will deploy the smart contracts on the Testnet. Alongside that, we will share the corresponding Github Repo, providing the opportunity to inspect the contract code in detail.

Milestone 3 - Documentation: For this milestone, we will compile a comprehensive Guide and Documentation, housed within the Github Repo. This documentation will cover essential aspects of the project, how-to’s, and templates

Each milestone will be thoroughly demonstrated and documented, ensuring transparency and facilitating effective communication throughout the development process.

7. Are there any aspects of this project that are known or potential unknown areas of difficulty/complexity that need to be overcome?

A: As of now, we do not anticipate any difficulties or complexities that may hinder the implementation of our proposed solution for this project.

4

Thanks for addressing all these, we are going through and completing a final summary to share now the we have all proposals up. Can you please clear up a couple more things:

  1. Can you confirm what contracts will be included? If changes are required to the feeDistributor contract, an intermediary contract is needed to deposit.
  2. Will interface be hosted or repo only? If hosted, what maintenance (resources and cost) are allowed for and is there a planned hosting duration?
  3. What chains will this be deployed on?
  4. Your website shows a large number of projects and very strong examples of design/UX and website creation. It appears there is limited smart contract work - can you give more relevant references for similar projects?