Stablecoins, Synthetics, Derivatives, and Other Similar Applications
Stablecoins, synthetics, and derivatives are key to the decentralized finance ecosystem of any chain and we are looking for novel proposals which help bootstrap this for Neutron. There are potential designs for collateralised stablecoins which may uniquely take advantage of Neutron and Cosmos-specific features like IBC, ICA, and ICQ.
Neutron Grants Program
October 23, 2023
$ 200,000.00
Summary
- Category: User-facing Applications
- Maximum Funding Amount: $200K
- Accepting one or multiple proposals: Multiple
- Submission Deadline: November 31, 2023
Stablecoins, synthetics, and derivatives are key to the decentralized finance ecosystem of any chain and we are looking for novel proposals which help bootstrap a Neutron-native ecosystem. There are potential designs for collateralised stablecoins or other assets which track the price of other indices or assets which may uniquely take advantage of Neutron as a base-layer blockchain and Cosmos-specific features like IBC, ICA, and ICQ.
How will this Core RFP add value to Neutron and the Interchain?
- We are looking to fund several core decentralized finance products, especially around stablecoins, synthetics, and derivatives. As a replicated security chain with permissionless smart contracts, Neutron can potentially serve as the hub’s primary place for decentralized finance applications.
- Native stablecoins on Neutron can help proliferate the deployment of derivatives and other DeFi products on the protocol, which in turn can boost liquidity and allow Neutron to become a base-layer blockchain for the interchain.
- Abstraction of Cosmos-specific features like IBC, ICA, ICQ integrated into user facing DeFi apps can allow users to experience benefits and potential of using the full interchain stack. Eliminating the complexity and simplifying the user flow around the stack will be key in achieving Interchain alignment.
What are the Criteria for this Core RFP?
- The application must be for building a decentralized finance protocol (stablecoin, synthetic, derivatives, or other similar products).
- There must be a clear go-to-market strategy for the product.
- There must be clear indication of risk assessment in the design and mechanism of the product.
- The application must prove to have a differentiated market offering from other DeFi applications in the wider crypto space.
How will the NGP measure progress for submissions for this Core RFP?
- We will track metrics such as number of users, active wallets, TVL, integration into other DeFi protocols, and the extent to which the project helps drive DeFi usage and liquidity into Neutron.
Please apply for this core RFP here.