ICON DEX and MULTICHAIN EXCHANGE CPS

Please Note
At current ICX prices this will fund our project through phase 3. Please consider this when voting. We would like to get started soon. We will adjust road map for completion. If any questions please post a reply @proguerra on telegram or twitter.

Hey everyone! Our CPS proposal is live. I’ve copied it down with a breakdown of budget. We wanted to post it on here as well so we can answer any questions or respond to any feedback!

Thanks
Alex

ICON DEX and MULTICHAIN EXCHANGE - Phase 1

Summary:

The need for ICONists to be able to easily swap and trade native IRC tokens is becoming more and more necessary. With ICON 2.0, BTP and other great developments on the horizon there will be more and more projects creating tokens on ICON. Since the closing of iconswap.io, many iconists have expressed interest and desire in an ICON native P2P dex.

We are here to give them just that! This project will upgrade, update and re-introduce iconswap.io to the world. This project aims to bring ICON and IRC DEX trading to an ever growing ICON community.

Currently the icon ecosystem has a couple of amm’s, these work on the basis where liquidity has to be added on both sides and when you trade an asset it is the going rate, at that moment. Our proposal is to create and sustain a much needed ICON native dex, and eventually add an ICON native multichain exchange into the ecosystem.

A dex like this would enable listing and trading these assets like Idai, ieth, IUSDC, IAM and any other Iassets instantly without the need for adding to a liquidity pool. The VibraVid team, in collaboration with sponsor Spartan Node, is extremely excited today to present our ICON Dex and Multichain exchange platform CPS.

Project Goals, Course and Milestones:

A traditional trading platform creates more demand and several transactions on chain. It will also bring in new chains and new communities to experience the Icon side. This will be a large scale project managed by some top software engineers.

We plan to divide the work into multiple CPS proposals delivering in the next 3 phases.

Phase 1: will be the launch of Iconswap.io. A fully decentralized smart contract based Dex.

  • Complete revamp of UI
  • Trading view integration
  • Hana/Iconex/Vibravid wallet connect
  • Icon 2.0 upgrade compliant using Java

Phase 2: Day Trading Capability

Phase 3: Multi-Chain Integration

Scope and Depth of Project:

Our scope of work below will contain in depth specifics and niche features. The following are concepts we will incorporate on the exchange that is unique to other platforms.

  • Token partner trading discounts (We will work with projects and help incentivize their token by offering trading discounts during certain times for using their token.

  • Multichain trading. Users will be able to trade across different chains. (Eg. ICX to TRX or KLV to ICX, WAXP to ICX)

  • Vibravid Wallet connect (Users will be able to connect their web based wallet and trade without needing to have multiple wallet extensions like metamask, Hana, tronlink)

  • Decentralized wallet trading. No account registration is needed to use the exchange.

Who we are:

Vibravid

The VibraVid project has been in existence since 2018 starting on the Tron blockchain. We currently have extended our presence to multiple chains and our current focus is on ICON because of its BTP efforts. Development led by Ted, our CTO has worked as a Senior software engineer manager for a leading privacy tech company in Silicon Valley. He took over the CTO role at VibraVid mid 2021 and has led the team with strong organizational skills, code refactoring for security and performance. He also delivered an ontime CPS proposal that integrated Icon into the VibraVid web based decentralized wallet.

Spartan Node

Dusty has been a part of ICON since the beginning. As the CEO of Spartan Node, as well as a respected long-time business owner, this project will have immediate use and a user base from day one.

Spartan Node has many projects currently running on the ICON network. Nftbazaar.io, the first NFT market on ICON was successfully funded and brought to market by Spartan Node. @ICXShark on twitter

has over 2000 followers and brings ICX price stats and information to social media. Spartan Node has also successfully applied for 2 CPS proposals and is committed to bringing use cases and notoriety to the ICON network.

Day to Day project representatives and team info:

Lead Engineer: Ted Osias - Vibravid CTO https://www.linkedin.com/in/osiastedian

Manager: Alex Guerra - VibraVid COO https://www.linkedin.com/in/heinrich-woogue-6251a6135

Content Management, marketing, socials and sponsor: Spartan Node

Previous experience, builds and VibraVid Products:

Vibravid.io - Music/Video streaming platform, Built in decentralized web based wallet with both ICON and Tron blockchains

BeatzCoin staking contract: TRONSCAN | TRON BlockChain Explorer | 波场区块链浏览器

Comparable Platform:

The look and feel of the platform will be similar www.trontrade.io. This will give you an idea of how the MVP can look + with our niche features.

Mocks: Adobe XD

Architecture, Timeline and Scope of Work:

Project Mission:

Icon Exchange SCORE (Icon 2.0)

Icon Exchange Score (4 Sprints) (Icon 2.0)

  • Add Pair

  • Remove Pair

  • Disable Pair

  • Fee Implementation

  • Fee Receiving Wallet Multisig

  • Maintenance Mode

  • Create Order

  • Cancel Order

  • Fill Order

Icon Exchange UI (6 Sprints)

  • Order book

  • Trade History

  • Order History

  • Hana/MyIconWallet/Vibravid wallet integration

  • Order Input

  • Market Trades

  • TradingView Integration

  • Statistics

  • Order Event Handling

Icon Exchange Backend (2 Sprints)

  • Statistics

  • 24H Volume

  • 24H High

  • 24H Low

  • 24H Change

  • 24H ICX Vol

  • Server Sent Events

  • Trade Confirmation Event

  • Order Creation Event

  • Order Cancel Event

  • Order Filled Event

  • Order Refund Event

Schedule

Month 1

  1. Icon Exchange SCORE
  • Add Pair

  • Remove Pair

  • Disable Pair

  • Fee Implementation

  • Fee Receiving Wallet Multisig

  • Maintenance Mode

  1. Icon Exchange UI
  • Order book

  • Trade History

  • Order History

Month 2

  1. Icon Exchange Score
  • Create Order

  • Cancel Order

  • Fill Order

  1. Icon Exchange UI
  • Hana/MyIconWallet/Vibravid wallet integration

  • Order Input

  • Market Trades

Month 3

  1. Icon Exchange UI
  • TradingView Integration

  • Statistics

  • Order Event Handling

  1. Icon Exchange Backend
  • Statistics

  • 24H Volume

  • 24H High

  • 24H Low

  • 24H Change

  • 24H ICX Vol

  • Server Sent Events

  • Trade Confirmation Event

  • Order Creation Event

  • Order Cancel Event

  • Order Filled Event

  • Order Refund Event

Budget: 45,500 ICX

Budget Breakdown:

  1. Senior Java Software Engineer 3K ICX monthly

  2. Senior React Software Engineer 3K ICX monthly

  3. Fullstack Software Engineer 2.5K ICX monthly

  4. UI Designer 1500 ICX total

  5. QA Engineer 1K ICX monthly

  6. Project Manager 2K ICX monthly

  7. Compliance officer, legal, promotion 2k ICX monthly

  8. Marketing/Promotion 2K ICX total (For ICX trading competitions)

  9. Server cost 500 ICX monthly

This brings our total cost for phase 1 of the project that will last 3 months a total of 44,500 ICX keeping in mind room for volatility. Should the volatility play in our favor we will use those funds to begin on phase 2 and/or more ICX budget for the trading competitions.

Hey Everyone. Fortunately ICX price has been doing very well. As things currently stand since we can’t adjust the budget on the CPS we wanted to inform everyone that our funding request at icons current price would cover all phases. Please consider this when voting. Thank you!