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Build a dApp for Deploying Stable Liquidity Pools (15 ETH)
bancorprotocol
JavaScript, HTML, web3
Title:
Build a dApp for Deploying Stable Liquidity Pools
Prize:
15 ETH
Challenge Description:
Bancor challenges developers to hack on one of the most exciting DeFi primitives - the decentralized liquidity pool. Liquidity pools are designed to perform non-custodial token-to-token conversions that also accrue value for liquidity providers who effectively act as passive market makers.
Up until now, liquidity pools have mostly been deployed with two volatile assets in their reserves. This has required liquidity providers to speculate on two volatile assets when contributing liquidity.
Bancor recently announced the release of USDB - a stable version of Bancor’s Network Token, BNT. USDB-based relays allow liquidity providers to plug into Bancor and generate fees from conversions without exposure to two volatile assets - which could dramatically reduce the risk of impermanent loss.
Now, we’re looking for a pioneering developer to create a DAPP that allows liquidity providers to transfer their liquidity from an existing Bancor liquidity pool (using BNT) to a Bancor liquidity pool that utilizes USDB.
Submission Requirements
For a certain token X, the dApp should enable the following process:
- Create a new XUSDB liquidity pool in addition to the existing XBNT relay (if such a relay doesn’t already exist)
- Allow the user to determine the fee on the new XUSDB liquidity pool
- Liquidate the user’s X Relay Tokens (the user should be able to enter an amount for partial liquidation)
- Convert the resulting BNT tokens into USDB
- Fund the new XUSDB liquidity pool
- Add controls that enable liquidity pool owners to activate/deactivate the BNT-based and USDB-based pools.
Important notes:
- Converting BNT to USDB should be done via Bancor Protocol, not opening a CPD.
- The newly deployed converters should be recorded in a registry (e.g., the ConverterRegistry contract) for on-chain discovery.
Judging Criteria:
- Best submission meeting all the criteria.
- Clean code & tech design.
- If applicable - clear UI, easy to use and generally good user experience.
Submission Deadline
October 4, 2019.
Winner Announcement Date
October 10, 2019.
Helpful tools:
Bancor Github: https://github.com/bancorprotocol/contracts
USDB Github: https://github.com/zachdoty/peg-usdb
Open-source liquidity portal built atop Bancor: bancor.cotrader.com & GitHub: https://github.com/CoTraderCore/Bancor-CoTrader-UI
Bancor Developer’s Telegram Channel: https://t.me/BancorDevelopers
Video explainer on Bancor community staking:
https://www.youtube.com/watch?v=oXTvHwRO61M&feature=youtu.be
Video explainer on Bancor liquidity pools (i.e., “Bancor Relays”):
https://blog.bancor.network/how-bancor-relays-work-c712a374374f
More resources at blog.bancor.network
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