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Challenge 1 - New Liquidity Pool Designs
The automated market maker liquidity pool is among the most exciting innovations to emerge in the DeFi ecosystem. Everyday users are now incentivized to store their idle assets in liquidity pools designed to algorithmically pool liquidity and generate fees from non-custodial token conversions.
Liquidity pools fundamentally alter how liquidity is networked and incentivized — but they are still in their early stages of development.
The Bancor Protocol Foundation challenges developers to create new designs for liquidity pools that reduce slippage and maximize returns for liquidity providers.
- Bancor Ethereum Smart Contract Documentation: https://docs.bancor.network
- Github: https://github.com/bancorprotocol/contracts
Prize Bounty: 12,500 BNT
- Build and deploy alternative liquidity pool designs that:
- Efficiently process conversions
- Enable anyone to add liquidity and generate fees from trades.
- Connect to Bancor
The design can tweak parameters of the current Bancor pool design, such as:
- Reserve ratio (“weights”)
- Underlying assets — there is no limit on the number of assets that can be utilized in a Bancor pool
- Eligible projects must utilize Bancor’s Ethereum smart contracts and the Bancor Network Token (BNT) or a derivative of BNT.
- Working demo required in order to qualify for a complete submission
Ideas for inspiration:
- Integrate pools with lending protocols - e.g., users deposit DAI, but the pool actually holds cDAI (Compound) or yDAI (iearn), maximizing yield for liquidity providers.
- Dynamically update the pool’s fees or weights to reduce impermanent loss.
- Utilize an “amplification coefficient” to reduce slippage without requiring more liquidity to be staked.
- Allow liquidity providers to be exposed to only one asset in the pool.
- Allow liquidity providers to enter and exit a pool with only one token, while ensuring that deposits/withdrawals do not imbalance the pool.
Submission Deadline: 11:59pm EST on Monday the 6th of April
- Meets the tech requirements
- Clean code & tech design
- If applicable - clear UI, easy to use and generally good user experience
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