Balancer veToken Launchpad
Project Overview:
The proposal is to develop a solution that will simplify the process of launching veTokens on the Balancer platform. Our aim is to streamline the process, making it as straightforward and accessible as possible, even for those without coding knowledge. This project is expected to facilitate more projects and liquidity into the Balancer ecosystem.
Project Description:
Currently, to launch veToken on Balancer, a project has to complete the following steps:
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Launch a Balancer pool
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Build and deploy their veToken
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Integrate veToken in their website so users can lock their tokens for veToken
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Integrate veToken in their governance and other products
We aim to simplify this process with the following tools:
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veToken Deployment Platform - Our first objective is to develop a comprehensive platform that allows projects to deploy their Balancer pool and veTokens with minimal effort. This platform will be designed with a user-friendly interface, prioritizing a seamless, intuitive user experience that requires no prior coding knowledge.
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SDK - In parallel to the deployment platform, we will be creating an SDK that offers simple integration of veToken functionality into any project’s website. This will further streamline the launch process and make it more accessible
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Prebuilt Frontend- To cater to projects eager for quick launches with minimal customization, we will provide a pre-built frontend. This readily-deployable solution will enable users to interact easily, providing liquidity and converting their Pool tokens into veTokens.
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Comprehensive Guide - This process can get confusing so we will build a proper easy-to-understand video and text guide that will help the project understand what it is, the benefits like ve8020, how it works, how they can deploy & integrate it in their projects.
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Deployment Scripts and Smart Contracts - For projects requiring full customization, we will publish all necessary deployment scripts and smart contracts. This will allow these projects to examine the code in detail, implement any desired customizations, and deploy their veTokens confidently.
Our goal here is to make veToken launch so easy to understand that someone who hasn’t even heard of veToken before, or doesn’t have any programming knowledge, can do it in minutes.
Value for the Balancer Ecosystem:
Increase TVL:
The project is designed to directly contribute to an increase in Total Value Locked (TVL) on the Balancer Protocol. This will be achieved by attracting more investors to Balancer pools, which will ultimately result in more liquidity for the ecosystem.
Expand Balancer Ecosystem:
The project will encourage more projects to build on Balancer Protocol, creating a sustainable positive feedback loop that will grow the Balancer ecosystem.
Create Internal Growth/Value:
The project involves the creation of an interface, SDK, frontend, guide, etc. These resources will reduce barriers for developers to build on the Balancer protocol, allowing more projects to contribute to the ecosystem.
Requested Grant Amounts:
The total amount requested for the project is $40,000, with a breakdown as follows:
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Interface Built: $10,000 (20 days)
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SDK & Launch Frontend: $15,000 (25 days)
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Guide: $5,000 (5 days)
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Smart Contract Code and Launch Scripts: $10,000 (10 days)
Milestones and Timeline:
The proposed project duration is approximately 60 days. This time is segmented into four crucial milestones that will guide the development process.
Development of veToken Deployment Interface (20 days) : Our initial focus will be on creating an easy-to-use interface for the deployment of veTokens and Balancer pools. This milestone focuses on designing and building an intuitive platform that requires no coding experience, thereby allowing users to easily deploy their tokens.
Creation of SDK and Prebuilt Frontend (25 days): The second phase involves developing a user-friendly SDK for simple integration of veToken functionality into project websites. Additionally, a prebuilt frontend will be made available for rapid deployment by projects looking for a quick launch with minimal customization.
Compilation of Comprehensive Guide (5 days): Recognizing the potential complexities involved, we will take five days to create a detailed, user-friendly guide explaining the workings of veTokens, their benefits, and how to integrate and deploy them. This will enhance understanding and facilitate the deployment process.
Development and Publication of Deployment Scripts and Smart Contracts (10 days): Our final stage is aimed at projects seeking full customization and control. We will develop and publicly share all the necessary deployment scripts and smart contracts, allowing these projects to implement any customizations they need and confidently deploy their veTokens.
This project timeline is designed to ensure that each milestone is achieved in a systematic manner, promoting efficient progression towards our goal of simplifying the veToken launch process on the Balancer platform.
There will be no upfront payment requests
Expected Value Add:
It’s challenging to quantify the precise Total Value Locked (TVL) this project will bring to Balancer. However, we believe that by simplifying the veToken launch process, we can attract more projects similar to RDNTCapital. It’s noteworthy that RDNTCapital alone has contributed to more than $40 million in TVL. Therefore, if we can facilitate even a few more projects like RDNTCapital, we could be looking at billions in added TVL for Balancer.
Value for Money for the Balancer Ecosystem:
The proposed project is a response to an already existing Request For Proposal (RFP), which indicates the Balancer ecosystem’s need for this solution. By making the process of launching veTokens more straightforward and accessible, this project aims to provide immense value to the Balancer ecosystem and simplify the experience of Balancer Partners. This project has the potential to attract billions of dollars of TVL for Balancer
Team:
Our team at Blockdudes has a proven track record in the blockchain space. We have developed and contributed to a multitude of projects, enhancing the infrastructure and applications of various chains and platforms.
Amrit Kumar Jain - CEO and Founder, Project Lead
GitHub: amritkumarj
LinkedIn: Amrit Kumar Jain
Amrit Kumar Jain, the founder of Blockdudes and the lead for this project, brings a wealth of experience and a wide network to the project. His vision for aiding blockchains in building robust infrastructure has shaped Blockdudes trajectory and he has established strong connections within the industry, including notable figures such as Vitalik Buterin, the founder of Ethereum.
Team Members
Four other members of the Blockdudes team will contribute to this project, bringing their diverse skills and experience. Their roles include developers, designers, and blockchain developers who will collaboratively ensure the project’s success.
As a collective, the Blockdudes team has successfully executed a range of significant projects, a few of which are:
- Decentralized Bridge: Worked with Vitalik Buterin to develop a decentralized layer 2 bridge.
- Mask Network: Integrated new features into the Mask Network browser extension.
- Unstoppable Domains: Assisted in integrating their service into various DeFi projects like Balancer, Enkrypt,zksync wallets, etc.
- Messari: We have worked with Messari on multiple projects, including developing several DeFi subgraphs that can be viewed at subgraphs.messari.io, this website is also built by us. We are currently working with them on building a large data project like Dune tables for multiple chains from scratch, which includes all Cosmos Chains, Filecoin, etc.
- Reserve: Developed DeFi collateral plugins.
- Verge: Developed ISO 20022 Application for Verge. Helping them integrate Smart Contracts in their chain
- Vetoken Finance: Constructed the project’s website and data graphs.
- Osmosis: Collaborating to build DeFi Vaults and strategies.
These examples represent a fraction of our work. We’ve completed several other projects, and our collective experience and success will be instrumental in the development and success of our proposed project
Team Long-Term Vision
Our long-term vision goes beyond this single project.
We aim to establish ourselves as a strategic partner of Balancer, assisting in its growth and in developing similar products.
Our goal is to attract more TVL to Balancer, enhance its ecosystem, and, importantly, to improve the user experience for all Balancer’s users.
We understand the power of seamless user interfaces and efficient backend functionality, and we’re excited to apply our expertise in these areas to Balancer’s future growth and success.