Request for a grant for building alternative frontend

Hi Kolibri Community,

My name is Maksim and I am team lead of team Levaki.

telegram: maksim

mail: [email protected]

For past two month we have been developing alternative frontend for Kolibri protocol.
Here are results of our work:

Demo website


How this project started?

We started building it We started development process as a part of Tezos DeFi Hackathon. While current Kolibri website is a great tech solution, that solves users’ problems, we thought that it lacks simplicity and clarity in user experience. After the hackathon finished, our team decided to finish the project, so it would match our vision for the future of DeFi world.

What’s new?

Dark theme

As case name suggests, our first goal was to built completely new version of user interface and website design. We studied best existing projects on DeFi market to introduce our dark theme (that was already previously proposed by community).

Built-in swap

Also, we present new core feature - a built-in native swap. This will provide users with an easy and quick tool to obtain stablecoin, without going into too much details about ovens, minting and soft peg. They can just click a button and get kUSD transfered on their wallets, it’s that simple! For now, to get swap tokens we are using liquidity pools hosted by QuipuSwap, we were able to reach to MadFish devs during hackathon period. But in the future, with the help of Hover Labs, we hope to host our own pools.

Rate notifications

By introducing email rate notifications, we solve two problems:

  • Users get up to date as fast as possible
  • We are in control of kUSD peg to USD

Now we have only implemented notifications by email, but in the future, we plan to also add telegram bot.

Who we are?

Our hackathon team Levaki has already been successfull on many hackathons, including:

  • 1 place on PVS-Studio hackathon
  • 2 place on the GlowByte hackathon
  • 2 place on SDV hiring weekend
  • 4 place on DeFInition hackathon

Our stack and tooling is stated in README in projects repo.

What’s next?

During development process, I had reached out with many amazing people in the community, including developers from Hover Labs, whose help was very valuable in building such project.
We want to continue our journey in Tezos DeFi market and implement our vision for the best sake of Kolibri protocol.
We request $40 000 from Kolibri DAO for our continious efforts and for future development

I like this project a lot. Super slick website, and the additional features like price notifications and built in swap are really cool, unique and useful features that I believe will be helpful to the protocol! It’s clear a lot of work has gone into this and that the devs on the team are technically capable.

With respect to funding, I’d have a few questions that I think will kickstart a discussion:

  • Can you break down what you plan to use 40K for (hosting costs, dev salaries, etc)
  • Can you break down a project timeline. Do you envision a mainnet launch in a week, a month or a year? Are there future features you want to work on and add?
  • Can you explain the future of this project? Presumably funding helps you bring it to completion. Do you envision that this tool becomes self sustaining by generating revenue somehow, or do you think that this will be a project that will rely on the DAO to fund it? In the latter case, what sort of recurring costs are there?
  • When do you envision getting funding? If the DAO gave you a lump sum up front, there’s no guarantee the project would finish. Are there milestones you would propose that would unlock partial tranches of funding?

I think knowing a bit more about the above helps to solidify a funding plan. I’m fully supportive of funding this initiative!

Hi again Kolibri community,

first of all, thanks for your feedback, I am fully agree that in terms of community funds, there must be an absolute clarity, where and why the fund money will go, and in this post I will try to make it as clear as possible.

For some insight in our plans, we decided to share our notion, there are a lot of materials, so be sure to check it out.

Team Levaki Notion

The sum I mentioned in initial proposal to the community, $40k, is our general budget for entire project, including all the way to the mainnet launch. This means, we are not planning to ask for any recurring funds. We plan to spend this sum in similar way, including additional costs, like outsource security audit from trusted team and mainnet features testing in future.

Right now, we are only requesting part of this sum, $10k, as this was our initial goal as a hackathon prize in our track. This seems to us as a rational request to motivate team after 2 months of hard work without generating any revenue, thus motivating us to continue developing this project.

This money will go directly to pay the sums, listed in our team budget.

For future funds, I agree, that some milestones would be a great way to build our connection with the DAO community.

Reasonable milestones for us now, are:

  • Mobile view (we know that current view is broken)
  • Page with stats and metrics (already has some hints at future implementation)
  • Fully working testnet version, with approved certificate
  • Our own hosted liquidity pool for swaps in mainnet
  • Full mainnet launch

In future some points might shift or differ, in favor of community priorities.

Another important point that you have mentioned, is future project monetization. Since we are using Kolibri contracts, all revenue, acquired by stability and liquidation fees, will be deposited in Kolibri developer funds. Also, when we would start hosting liquidity pool for swaps, fees, generated from it, will be too deposited in DAO funds. By doing this, we plan to maintain DAO oriented structure of project. Combined with openness of our source code, this will allow us to integrate our project in protocol, and maybe reach to the Hover Labs devs, and then support and maintain it with the help of the Kolibri community.