SECTION 1: APPLICATION OVERVIEW
Summary of Your Application
Brief Summary:
“AutoGains is an advanced automated trading platform that enables creating and investing in any automated strategy through automated ERC-4246 vaults. The platform will cater to any trader by allowing for advanced scripts or block based parameters. The trading will be facilitated with smart contracts through an integration with gTrade’s V8 update. Leveraging ERC-4246 vaults will allow for an automated trader to make more money through their strategies as well as integrate with more protocols.”
Integration Category:
Trading Contracts
Amount of $ARB Tokens Requested:
20,000 $ARB
Project Description:
“AutoGains allows users to ‘set and forget’ their trading strategies which will operate continuously without maintenance. This platform enables customization through personal API integration and provides a public API managed by AutoGains. A small fee is charged for using the public API, supporting our platform’s sustainability. Users can deposit funds into vaults to receive 4246 tokens representing shares, with options to set fees for other users who wish to utilize their trading strategies.”
Integration and Benefits:
“Integrating with gTrade’s V8 update and Chainlink for API data calls, AutoGains facilitates seamless smart contract transactions and improves trading efficiency on the GNS platform. The addition of automated traders will increase volume for GNS; furthermore, such a platform does not exist for most decentralized perpetual exchanges as well. This setup not only simplifies interactions with decentralized perpetuals but also increases platform engagement by enabling more accurate and reliable data fetching for trading strategies.”
Plans for the Grant:
“The grant of $20,000 will be distributed as follows: $10,000 will support the development of the platform as well as the maintenance of the server and the public trading API. $5,000 will be allocated to comprehensive auditing to guarantee the platform’s security. The remaining $5,000 will fund a competition to promote innovative trading strategies among users. The grant will be released in milestones to ensure high standards and timely delivery are maintained throughout the project’s development.”
Timeline and Milestones:
- Weeks 1-3 ($10,000 ARB): Develop smart contract vaults, integrate with gTrade’s V8, and establish connectivity with Chain Link for API data calls. Start building the public API and front-end design.
- Weeks 4-7 ($5,000 ARB): Complete all necessary audits. Develop and finalize the front-end and back-end components, ensuring the trading API is fully functional.
→ For the completion of all the necessary audits, the plan is to pursue individual auditors (https://code4rena.com/leaderboard) to maintain a lean audtiting cost under the $5k. However this cost may vary depending on smart contact complexity and size. But we do have funds of our own that we could use along with the $5k to pay for the audit if it does exceed the allotted amount amount. Thus it may act as a partial compensation.
- Weeks 8-10 ($5,000 ARB): Launch the website and smart contracts. Initiate the automated strategy competition to engage the community and demonstrate platform capabilities.
→ Competition will be based on a profit and loss(pnl) point system weighted on volume. So that high volume high pnl will gain more points over low pnl high volume or vice versa. Tiers will work as 2,500 $ARB for #1 vault, 1,000 $ARB for #2 vault and 500 $ARB for #3, and finally 250 $ARB for the top #4 to #7 vaults.
SECTION 2: APPLICANT INFORMATION
Applicant Name or Alias: CoolGuy
Project Name: AutoGains
Project Description: The easiest way to trade using GNS on traditional algorithmic trading rails without sacrificing blockchain security!
Team Members and Qualifications:
Both team members have worked together extensively and have competed in many hackathons as well.
- Gnome: Experienced smart contract developer and backend engineer. Gnome has won $32,000 from various hackathons against various developers from startups and companies. Gnome has also worked with GNS in the past in building scripts to gather data. Gnome will be responsible for developing the smart contracts and the API.
- CoolGuy: Experienced front-end developer who has also won $30,000 from many different hackathons. CoolGuy is also greatly experienced in building servers and design using Figma. CoolGuy will be responsible for developing the front end and connecting the API to the frontend.
Project Links:
- None
Contact Information
Contact Information:
- Telegram: SlowCactus or @isacoolguy
- Twitter: @adudeofcool
- Email: adudeofcool@gmail.com
Participation in Other $ARB Programs
None
SECTION 3: GRANT DETAILS
Grant Amount and Budget Breakdown
Grant Amount: 20,000 ARB
Budget Breakdown:
- Development and Design: $9,000 ARB
- Maintenance and Upkeep: $1,000 ARB
- Smart Contract Audits: $5,000 ARB
- Competition: $5,000 ARB
Funding Address
Funding Address: arb1:0xB46838207D4CDc3b0F6d8862b8F0d29fee938051
Funding Address Details: The address is using a 2/3 multisig wallet on gnosis safe.
SECTION 4: DATA & REPORTING
Data & Reporting:
- Dune Graphs/Dashboards: Yes, we will provide Dune graphs and dashboards to monitor our incentive program.
- Bi-Weekly Updates: We will post bi-weekly updates on the Gains Network forum, detailing our progress, milestones achieved, and any challenges encountered.
- GitHub: The github will be openly available for the grant board members to observe the changes made to the existing protocol to see changes being made and the newest updates.
Here are some images for mockup and design explanation.
Mockup:
Design Graph:
