Last updated 4 years ago
Identify Dano DeFi Building Blocks
Problem
I am trying to solve the problem of bootstrapping the decentralized finance/open finance movement on Cardano before Plutus + Marlowe hit MN.
Total to date
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About this idea
In short: my goal is a bottom up approach to bootstrapping liquidity in Cardano's soon flourishing DeFi sector. Arguably the 1st crypto PMF
MSc Finance, 3+ yrs Management Consulting, deep understanding of DeFi products + "composability" features that attracts devs to build on top
The main idea I am posing here is a bottom up approach to funding the 1st wave of Cardano defi products. I know IOHK has a separate fund for DeFi products but I believe a bottom up approach (similar to what's being proposed for voting experiments in fund1) is a nice balance to meet in the middle. Great ideas will emerge from both and I would like to think more about how the related proposals I have tagged can help us get there.The chart below highlights some of the defi primitives on ethereum and cosmos I believe are key make their way to Cardano.
I would approach this similar to the way similar "Ethereum killers" just now coming to market are addressing the defi bootstrapping problem,help teams working on Cardano defi secure funding and providing strategic resources they need to build great products.
Take a decentralized exchange (dex) for example, Uniswap is a popular example of this on Ethereum today. Providing resources in a curated list for new devs just starting to think deeply about dex construction in Haskell will certainly streamline their development lifecycle.
In the link below a dev began cloning a popular centralized exchange (London Stock Exchange SETS system). Can we hire this dev to finish this and deploy it on Plutus? If not how can this code serve as inspiration to the dex's we want deployed on Cardano. Update: Devs are already responding, some inquiring more on the process of deploying their Haskell built applications to Plutus. Update to the Update; I am having the most success actually just finding the Haskell application equivalents to the DefI blocks and reaching out to these devs with a Plutus pitch. Good news is Cardano is starting to make waves in the Haskell dev community, downside is this is going to be a somewhat tedious (low-level) process until the entire Plutus platform is deployed to an IDE testnet devs can build against. If you are curious as to the type of products I plan on working with Haskell devs on once a few MVP dex's launch (i.e. Cardano versions of Uniswap/Bancor) check out this link to the Serum project ideas devs are receiving grants to build (keep in mind Serum is a dex orderbook, all of these products will deploy on top of Serum which is deployed on the Solana blockchain): https://projectserum.com/blog/project-ideas.
The first order of business is several Cardano dex's to service the many new asset pairs we except to see post Multi Asset Ledger launch. I will iteratively begin working down the defi product list from there including on the CEX side where I am already talking to Haskell devs about repurposing the LSE SETS application in Haskell and building a "Stock exchange as a Service" financial application that integrates into the Atala Prism lineup but can deploy on the public or permissioned side of Cardano.
https://github.com/ggreif/thebook-haskell
Another simpler version of Haskell orderbook:
https://github.com/paulkoerbitz/orderbook
Haskell order book and other defi focused Haskell products:
https://github.com/runeksvendsen
Haskell finance + oracle repo:
https://github.com/bradclawsie/haskell-Finance.Quote.Yahoo
https://github.com/boundedvariation/quantfin
https://github.com/HaskellAll/hqfl
https://github.com/0xchamin/Finance_Contracts_Haskell
Other helpful links
https://medium.com/coinmonks/roll-your-own-bitcoin-exchange-in-haskell-a8d782ab2a24
Marlowe related defi DSL articles:
https://github.com/fwilkens/haskell-finance
I have already reached out to most of these devs to gauge their interest in deploying their applications on Cardano. Wil be creating proposals for those who show interest.
Some threads for anyone who wants to go on a defi 2.0 ride. We are watching ethereum go down rapid experimentation phase in defi. This proposal is focused on taking the best ideas emerging in defi-land and working with Haskell fintech devs who have already constructed similar applications in the existing legacy finance world to port them into Plutus/re-purpose them for crypto products to be built on top. This is 100% the move IMHO and all it takes (if we construct proper incentives, secure funding, and provide strategic support!) is 10-20 bright fintech Haskell devs to build out the v1 of these projects. I have already had somewhat deep discussions with 5 and I have been working only part time on this effort in the last few weeks.
https://threadreaderapp.com/thread/1300175041196437509.html
250k $ada