Optimus, Yield Optimizer protocol on ICON Blockchain.
Development: this project aims to expand the ICON DeFi ecosystem by providing lending aggregation and yield generation between ICON lending pools such as Balanced and Omm.
Objective
Optimus‘s vision is to enable everyone in the world to effortlessly invest in and profit from DeFi (Decentralized Finance) protocols built on the ICON Network. Our very first mission to develop a lending aggregator, which seeks to optimize investment opportunities in the existing ICON ecosystem provided by lending pools such as Balanced and Omm.
Optimus’s business model is to return more from invested assets for the users, by looking for the most profitable interest rate between lending pools and automatically switching to a more beneficial one.
Opportunities
- Optimus’s long-term target is to onboard more users from Ethereum crypto space by implementing different cross-chain protocols for asset expansion like REN.
- Optimus follows DAO philosophy and looks to reward only actual users as the protocol will launch with 0 FIN supply and we aim to decentralize Optimus as a self-developed community. This will help to prevent the project from being affected by the plutocracy often found in most DeFi projects.
- We target to launch Optimus simultaneously with Balanced and Omm to boost the ICON DeFi ecosystem as a whole all at once.
- As a DeFi project, we are aware that security concerns need to be addressed carefully. The protocol will be tested thoroughly and core contract accounts will be secured with cold wallets / HSM to mitigate possible risks that could leave negative feedback on the ICON community.
- As a Main P-Rep, ICON DAO has been maintaining a positive branding as we believe it is our core value to build a positive and self-motivated community for ICON. Together with in-depth technical expertise from the Techiast team, we believe our collaboration will result in a high quality, community-driven DeFi project in the ICON ecosystem that is able to rival established projects from other blockchains.
Details
View full Project Description here.
The project is going to take 5 months in total of development following this timeline:
- Q4 - 2020:
- Core contract protocol alpha release.
- Technical specifications.
- Product whitepaper.
- Q1 - 2020:
- Core contract protocol beta release.
- Optimus alpha release
- Testnet integration test with Balanced and Omm.
- Early Q2 - 2020:
- Optimus beta release
- Mainnet launch.
| Hierarchy | Title |
|---|---|
| Epic | Core contract protocol alpha release. |
| Feature | As a user, I want to deposit ICX to Optimus protocol. |
| Feature | As a user, I want to redeem finICX from Optimus protocol. |
| Feature | As a strategist, I want Optimus to farm ICX from Balanced protocol. |
| Feature | As a strategist, I want Optimus to farm ICX from Omm protocol. |
| Epic | Technical specifications & Whitepaper |
| Document | [Technical Specs] - List of contract functions. |
| Document | [Technical Specs] - List of contract events. |
| Document | [Technical Specs] - List of mining ratios. |
| Document | [Technical Specs] - List of transaction fees. |
| Document | [Whitepaper] - Optimus introduction & Protocol design. |
| Document | [Whitepaper] - Investment strategies. |
| Document | [Whitepaper] - Token economics & Fee models. |
| Document | [Whitepaper] - Timeline. |
| Epic | Core contract protocol beta release. |
| Feature | As a strategist, I want to gather the best interest rate. |
| Feature | As a protocol worker, I want to delegate rewards to the DAO fund. |
| Feature | As a protocol worker, I want to receive fee rewards. |
| Feature | As a protocol worker, I want to upgrade protocol contracts. |
| Feature | As a protocol worker, I want to execute a protocol upgrade. |
| Feature | As a bot keeper, I want to get contract data. |
| Feature | As a bot keeper, I want to automate contract functions. |
| Epic | Optimus alpha release. |
| Feature | As a user, I want to connect to ICONex wallet. |
| Feature | As a user, I want to view ICX balance. |
| Feature | As a user, I want to view the Deposit screen of Optimus interface. |
| Feature | As a user, I want to view the Redeem screen of Optimus interface. |
| Epic | Testnet integration test with Balanced and Omm. |
| Test | As a strategist, I want to gather the best interest rate. |
| Test | As a strategist, I want Optimus to farm ICX from Balanced protocol. |
| Test | As a strategist, I want Optimus to farm ICX from Omm protocol. |
| Test | As a user, I want to deposit ICX to Optimus protocol. |
| Test | As a user, I want to redeem finICX from Optimus protocol. |
| Epic | Optimus beta release. |
| Feature | As a governance contributor, I want to receive contribution rewards. |
| Feature | As a protocol worker, I want to sign a multisig for protocol upgrades. |
| Feature | As a user, I want to exchange FIN to ICX. |
| Epic | Mainnet launch. |
| Feature | Interactive demonstration on Optimus interface. |
| Document | User guideline & announcement. |
The total grant request for this project is $75,980 (paid in 5 monthly installments) which is calculated as below:
| Item | Qty | Months | Unit | Unit Cost | Total Cost | Note |
|---|---|---|---|---|---|---|
| Project Manager | 1 | 5 | Employee | (*)$3,183 | $15,915 | Supported by ICONDAO |
| Solution Architect | 1 | 5 | Employee | (*)$3,481 | $17,405 | ICONDAO Team |
| Blockchain Engineer | ||||||
| (Senior Level) | 2 | 5 | Employee | (*)$2,840 | $28,400 | Techiast Team |
| Blockchain Engineer | ||||||
| (Middle Level) | 1 | 5 | Employee | (*)$2,263 | $11,315 | Techiast Team |
| Web Engineer | ||||||
| (Senior Level) | 1 | 4 | Employee | (*)$2,630 | $10,520 | Techiast Team |
| Web Engineer | ||||||
| (Middle Level) | 1 | 4 | Employee | (*)$2,085 | $8,340 | Techiast Team |
| Cloud Engineer | ||||||
| (Senior Level) | 1 | 3 | Employee | (*)$2,612 | $7,836 | Supported by Techiast Team |
| Total | $99,731 | |||||
| ICONDAO Support | $15,915 | |||||
| Techiast Support | $7,836 | |||||
| Grant Total | $75,980 |
ICON DAO & Techiast
Telegram channel: Telegram: Contact @icondao
Telegram channel: Telegram: Contact @techiast
Email: icondao@canfoundation.io
hx11b951611cd26de8f1283a3842b2359cf3a7abef
Thank you for your time,
ICON DAO & Techiast
