Report LICX - Token for DeFi solutions

Report Name

LICX – Periodic report 1/2

Reporting Period

April-May

Report Description

In this period we have established all the fundamentals needed for LICX project which includes:

  • Establishing IRC2 token contract
  • “Fake system contract”
  • UX/UI components needed for MVP

On top of that, we have started creating SCORE with the logic needed for the LICX pool to function. We have already implemented a few key features, but some redesign and improvements will be implemented to improve the scalability and security of the smart contract. The work includes

  • The possibility to connect a wallet to the web application
  • Joining and leaving the LICX pool
  • Frontend implementation that connects functions to the web application

In our bi-weekly updates there is the progress report of what has been done in each sprint
LICX update #1
LICX update #2
LICX update #3
LICX update #4

Project Completion Percentage

Based on the amount of development work that was already done we estimate that 45% of the development is completed.
The UI/UX for MVP is already sufficient. We plan to do some minor adjustments to it so 90% of UI/UX is already done.

Remaining Time to Completion
The final release is dependent on the release of the upgrade of the network when SCORE will be able to interact with the system smart contract, but we expect that the development should be finished by the end of next month if everything goes according to plan.

Expected Results for the Next Period

In the next period, we expect the SCORE to reach the MVP stage and to be tested. We will finish the SCORE components as well as improve the scalability and security of the original design by implementing an alternative way of mapping the wallets and implement functions through a web application.

Materials Proving Progress on the Project

Access to the complied codebase will be provided to Bong and Ben on Telegram

Status summary in text

The progress of the project is currently on track with the expectations that we had. If the testing to the new mapping approach is successful we should be able to deliver the MVP by the end of June (again depending on the SCORE’s ability to interact with the system contract).

Review Result Comments

Review Result

Approve

Report Name

LICX – Periodic report 2/2 (not final)

Reporting Period

June

Report Description

In this period we have implemented joining and leaving the pool. A lot of work has already been done on the frontend, we have decided to go with automatic distribution of the rewards, which still needs to be implemented. Also, we can fully test the final solution only when the SCORE will have the ability to interact with the System contract, which is planned to be implemented in July.
Since there are some delays from our side I propose that the final payment is made when we present the MVP in the following month.

Here are our two bi-weekly updates for this period:
LICX Update #5
LICX update #6

Project Completion Percentage
Based on the amount of development work that was already done we estimate that 80% of the development is completed.
The UI/UX for MVP is already done, only some frontend implementations are needed.

Remaining Time to Completion
The project was a bit delayed on the development side but we should be able to deliver it in the next month. This is also dependant on the release of the update for the ICON network when SCORE will be able to interact with the system contract, so we can do the final tests.

Expected Results for the Next Period

Since the final period was the month of June, this is only an extension of the period as some delays happened., we expect the SCORE to reach the MVP stage and to be tested and deployed on the test net. As soon as the update for the SCORE with system contract interaction is implemented on the main net we will transfer the SCORE there.

Materials Proving Progress on the Project

We will release MVP which will be usable.

Status summary in text

The progress got a bit delayed, we still need to implement the distribution of the rewards and some minor tasks on the frontend as well as FAQ and technical documentation.

ICON Foundation is going to release a new update in late July and I already knew that your project requires that update. After you finish your MVP, then we’ll go through it and pay the final grant. Please let me know once you finish the project.

Thanks.

1 Like