Cross chain Filecoin bridging
olenaboosty opened this issue · comments
Open Grant Proposal: Project Title
Cross chain Filecoin bridging
Project Name:
Tricorn
Proposal Category: Choose one of Developer and data tooling, Applications, Integrations, Research & protocols, Other. Learn what these categories are here: https://github.com/filecoin-project/devgrants/tree/master/open-grants#readme
Applications. We consider a cross chain bridge as a DeFi application
Individual or Entity Name: Is the proposal on behalf of an individual, or an entity/organization? Please note that the agreement and any payments must be completed by the same entity, either individual or organization.
Entity Boostylabs
Proposer: replace with your GitHub username
olenaboosty
Project Repo(s) Please list Github repos used for this project work.
https://github.com/BoostyLabs/tricorn
(Optional) Filecoin ecosystem affiliations: Please disclose any existing work relationships with organizations in the Protocol Labs Network, including Protocol Labs, Filecoin Foundation, Filecoin Foundation for the Decentralized Web, and any others.
(Optional) Technical Sponsor: If you have previously discussed this project with a member of the IPFS or Filecoin project teams and they have agreed to be a technical sponsor, include their name and/or github handle here
Angelo Scalley, Stefaan Vervaet, Andrew Ferrone
We are in communication with this group through our affiliate company Boosty Labs about bringing S3 experience to Filecoin similar to what Boosty did for Storj.
However, as Boosty believes in big potential of Filecoin Ecosystem, FVM, and opportunity to build cross- connected DeFi, cloud, compute and general blockchain ecosystem all in one place, Boosty recommends us at Tricorn to apply for a grant to bring Boosty DeFi arm to this game as well to build Filecoin ecosystem from all main angles.
Do you agree to open source all work you do on behalf of this RFP under the MIT/Apache-2 dual-license?: Please respond with "Yes" or "No".
Yes
Project Summary
Problem: 6.7+ million DeFi users face endless hurdles daily: wasting time and money on high fees for asset swaps across multiple chains using several CEXs, searching for better rates, dealing with limited liquidity on DEX, and lack of interoperability.
Solution:Tricorn is a multichain bridge connecting 7 blockchains, and continuously expanding its pool of supported networks. Tricorn proposes to build a bridge for Filceoin, connecting the network to all supported blockchains.
Tech diagram: https://drive.google.com/file/d/1JUcpLlyTo6rr7b7y9e9bSEOxZr1k3xqV/view?usp=drive_link
How it works: The whole application consists of 5 entities: gateway, signer, bridge, connectors and smart contracts.Gateway is responsible for validating requests from users and transmitting them to bridge.Bridge is a central processing unit. It processes transfer requests by validating and configuring transfer approach and then redirecting them to appropriate connectors.Connector is responsible for transaction estimation, events reading and contract methods calling.Signer signs transactions.Smart contracts.
The Bridge operates in two ways:
Liquidity Pools: When users send tokens through our Bridge, we lock the tokens on the source chain and transfer an equivalent amount (minus commission) from the Vault to the user on the destination chain.
Mint/Burn: This method is similar to Liquidity Pools, but it allows us to mint tokens on the destination chain or burn tokens on the source chain.
Impact
The Tricorn Bridge proposal holds immense value for Filecoin by addressing crucial pain points and offering solutions. One key pain point is the current lack of seamless interoperability between different blockchain ecosystems, especially those based on EVM, Move, and Cosmos chains. Tricorn Bridge aims to bridge this gap, providing a secure and efficient cross-chain solution that connects various blockchains and enables interoperability. This directly aligns with the need for Token Bridges outlined by Filecoin, facilitating the movement of wrapped tokens from other ecosystems into the Filecoin ecosystem.
Getting this project right has several benefits, including expanded use cases for Filecoin, increased adoption of FVM, and enhanced cross-chain interoperability. Success would mean unlocking the potential for smart contracts on other chains to access Filecoin's storage capabilities and vice versa. Additionally, the proposal aligns with Filecoin's long-term vision of being part of a broader family of blockchains. If successful, Tricorn Bridge can contribute to creating a more connected and vibrant blockchain ecosystem, showcasing Filecoin as a key player in the decentralized finance space.
However, not getting this right poses risks such as missed opportunities for collaboration with other blockchain networks, limited growth potential, and potential challenges in proving the value proposition of Filecoin in the broader blockchain landscape.
Outcomes
Our cross-chain bridge solution supports both EVM and Non-EVM chains, including Ethereum, Polygon, Avalanche, Binance Chain,Lightlink,Casper,Concordium,Stellar and also supports CCTP protocols.For Casper and Concordium we became an exclusive cross-chain bridge provider that is going to gain most of cross chain transactions that come in and out of those chains.EVM contracts has been already audited by Halborn. We are currently working on the Concordium audit, after which we will go live. Have more than 10 000 success transactions in the testnet.
Adoption, Reach, and Growth Strategies
Audience of our bridge consists of users who want to move their Filcoin tokens to the supported networks and/or to move their assets from the supported networks to Filecoin. In general, for now, the main GTM for a young crypto project is some type of liquidity mining. Tricorn could use points from this purpose and/or ask for some incentives from the supported chains Foundations, and/or DeFi projects which want to attract liquidity from other chains. We could also try to use the Foundation’s social media to raise awareness about Tricorn. Also Tricorn could try to find a project/LP in supported networks (maybe even one of the Foundations) that is interested in bridging some tokens to/from Filecoin.
Development Roadmap
Smart contract development (20 700$) 1 dev
-SC discovery phase
-Contract development
-Writing tests/Bugfixing
How to measure completion: any Tricorn currency can be sent to and from Filecoin, transaction fee collection and withdrawal are successful
Estimation date of completion: 30 work days from the start day
Back end integration(18 600$) 1 dev
Connector development
-expand the network with Filecoin data
-implement basic communication methods (add/remove subscriber, notify, tokens, etc...)
-create events parser
-implement events reading
-implement estimate method
-implement bridgeOut method
-implement bridge in method
How to measure completion: translate all tricorn functionality to the stellar blockchain, any Tricorn currency can be sent to and from Filecoin
Estimation date of completion: 38 work days from the start day
Front-end integration (5400 $) 1 dev
- basic wallet connection: implement wallet connect, sign and get active walett address messages
-implement sent signed transaction - UI/UX update
How to measure completion: successful initiation of transactions on the bridge
Estimation date of completion: 38 work days from the start day
The budget includes costs for QA and project management & coordination to ensure the project stays on track, meets deadlines, and adheres to the budget.
Total Budget Requested
| Milestone # | Description | Deliverables | Completion Date | Funding |
|===|===|===|===|===|
Total budget 44700 $
Maintenance and Upgrade Plans
https://drive.google.com/file/d/1ifeZRYgFZjPiQNq-qIGzLJOyVYBrkrw_/view?usp=sharing
Team
Team Members
Viktor Ihnatiuk - CEO and co-founder-https://www.linkedin.com/in/victor-i/
Yehor Butko - CTO and co-founder -https://www.linkedin.com/in/yehor-butko/
Ihor Baidiuk -SC dev- https://www.linkedin.com/in/igor-baidiuk-12416090/
Viktor Voitenko -SC dev-https://www.linkedin.com/in/vvoitenko/
Volodimir Smetannyuk -BE dev-https://www.linkedin.com/in/volodymyr-smetaniuk-53688b216/
Team Website
Relevant Experience
In the dynamic world of blockchain, fintech, and cloud engineering, Boosty Labs stands as a vanguard. With a rich history that dates back to the acquisition of Viktor Ihnatiuk’s peer-to-peer lending company, Boosty Labs was born from the ambition of a young fintech veteran who, at the age of 21, brought together a team of industry experts to address the technological challenges of the future.
With a passion for product development and a portfolio that spans fintech, blockchain, and cloud storage projects, Boosty Labs has become a trusted partner to market-leading companies, collaboratively developing digital solutions that address customer needs and enhance business performance.
As a preeminent blockchain development company in Europe, Boosty Labs boasts a formidable team of over 100 developers, dedicated to serving an impressive roster of clients in the crypto industry. These clients include globally recognized names such as Consensys, Storj, NEM, Ledger, Near Protocol, Bloom, Onomy, Celsius, Trustana, and a host of trailblazers in the NFT space.
With expertise in cutting-edge Web3 protocols like Rainbow, OpenSea, Twilio, zkSync, STORJ, and POKT, Boosty Labs’ technology stack is crafted to meet the evolving demands of the Web3 era.
Team code repositories
Additional Information
Hi @olenaboosty, thank you for your proposal! It looks like multiple links in your proposal are broken. Can you provide an updated link for your project repo? We are also having trouble with the links provided in the tech diagram?
Hello, @olenaboosty! Can you confirm if this request is under review?
Hi @olenaboosty, thank you for your response. After much consideration, we have determined that we will not be moving forward with a grant at this time. If you have any questions, please contact our team at grants@fil.org.
Wishing you the best as you continue building!