BalanceFall Project Proposal

BalanceFall Project Proposal

Project Category: Development

As Piconbello, we strive to create applications that the community needs, and can ease their process of interacting with the ecosystem. With the emerging rise of DeFi platforms across the blockchain community in general, we are simply glad to see ICON take the challenge and implement DeFi protocols on the ICON ecosystem.

As avid followers of blockchain in general and frequent users of Telegram, we realized the rise of “Waterfall bots” across the ecosystems. DeFi platforms are quite rapid in terms of price change and one does not have a rather easier way to track the data since there is no orderbook and exact way to get price, these solutions give better insight to the community. Waterfall bots that are utilized on Telegram provide a solution to this issue. They track every transaction for a particular pair on a particular DEX platform and provide transaction data. Also, for applications where staked asset percentage matters, it tracks deposit and withdrawal information. Examples for these products can be seen below.

These products provide an easy way for the community to track transactions and have discussions about it. Since DeFi platforms on the ICON ecosystem are rather new and we are rather experienced in terms of ICON-Telegram integration through our products, we believe that we are proficient enough to tackle this challenge.

Our proposed platform for this project is Balanced, we believe that there is no easy way for daily users to track BALN price effortlessly, hence it would be a great idea to supply a rather easy way to get the data to the community.

Our proposal is as follows:

  • One specific channel that tracks BALN price actions realized through each transaction on the Balanced platform. Every buy and sell order will be presented in this channel, with data regarding price, transaction link and such.
  • One specific channel that tracks stake/unstake transactions for BALN. Each stake/unstake transaction will be presented in this channel, with the data regarding percentages.
  • One specific bot that will be present in channels that can be queried for price of BALN, volume of BALN, remaining time for BALN airdrip, graph of BALN and such for some time intervals. If possible, we also think about additional data, such as the value of their liquidity tokens for liquidity providers, total locked value and such.

We will sponsor ourselves for this project, we believe it will present a great value for the community.

Project Milestones

We believe 2 months will be enough time to have this project completed and running smoothly. Our milestones can be seen below:

  • Buy/sell tracker channel, stake/unstake tracked channel completion
  • Channel bot and data gathering completion
  • Overall testing for quality and reliability, as well as opinion gathering about additional features/data if deemed important

Funding Amount Requested

We believe we will require around 5800 ICX for this project.

Our valuation for the project for different elements can be seen below:

  • 4000 ICX for backend development design, in terms of algorithms and state of art systems to realize BALN transactions on the Balanced platform for every block possible, in a concrete and high speed manner.
  • 700 ICX for designing three Telegram interfaces that have great user experience and performance.
  • 700 ICX for data gathering algorithms for price, total value locked, graphs and such.
  • 400 ICX for server costs and possible database cost if deemed necessary.

Team Contact Information

Team Lead Emre

Piconbello (Telegram)

Piconbello (Twitter)

Can you elaborate more in details what you plan to do ?
Why a simple system that reads the contract states and read the transaction result isn’t enough for buying/selling ?

  • 700 ICX for data gathering algorithms for price, total value locked, graphs and such.

Brian and I already did that, please refer to existing work:

Because when there is a pool there is no order book. Which doesn’t give most the investor sense of what’s going on there more transparency. I am not the guy who follows it but the whole Defi space follows these channels like crazy You can see it over here for bsc Literally +3 channels popping up every day (if there is no demand for it that won’t be the case there in our opinion). We don’t expect something close to bsc while we are sure it’s going to be part of the defi ecosystem and followed by the community which was the reason behind the proposal.

At the time of the proposal, there was no chart and there is still not one while it’s going to be deployed(I saw a announcement from balanced team). The idea behind this part is creating data points like charts (we need to hold off chain earlier might be changed with update) which can be called in groups price change rates and possible alarms for the most important data points for users(This part which we need to require feedback from the community.) In general here is utilizing data points and recording extra data which does not exist/you can directly read from the chain. This part we explained in the bellow quote and it’s not clearly stated towards any direction because we are not sure whatever we can do exactly. One of the ideas is liquidation and risk alarm for loaners but we are not sure even we can pull loaners exact data by address so we didn’t want to state features we might not able to deliver.

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