(Rejected) LAP(Liquidity Autonomous Protocol)

Proposal details

Project Name

LAP (Liquidity Autonomous Protocol)

Project Type

DeFi, New Dapp

Proposal Description

LAP (Liquidity Autonomous Protocol) is a decentralised financial protocol that main function is helps users of the IoTeX blockchain to unstake their IOTX stake (bucket) ahead of the end of staking.
This IoTeX blockchain-based DeFi tool is similar in purpose to services Lido DAO or Rocket Pool, which are providers of Liquid Staking Derivatives or LSD on the Ethereum blockchain. Liquid staking derivatives are the latest trend in the decentralized finance (DeFi) space, offering a new way to earn yield on your crypto assets. In simple terms, these services solve the problem of blocked staking crypto assets and give users a opportunity to use their assets in other areas of DeFi (yield farming for example) or trading. For this service providers receive commission fee (certain percentage) from users.
However, LAP will have its own characteristics as opposed to ETH-based protocols. LAP has no plans to release wrapped or fungible tokens as version of the staking IOTX. This solution eliminates the attack vector for hackers that occurs when this kind of tokens are used in the protocol. Unstaking will be done via marketplace. Also this will avoid a situation when a single organization owning a large quantity of tokens might pose a threat to the entire network. This is known as a 1/3 centralization attack which is a drawback of being a Proof-of-Stake ecosystem. There are also no plans to issue XRC20 tokens of the protocol. Protocol management and proof of share of the protocol treasure (where the commission fee income) is planned to be carried out through LAP NFTs minted in limited edition.
LAP (Liquidity Autonomous Protocol) is planned as a DeFi tool that will open up new possibilities for IoTeX blockchain users to use their assets with maximum efficiency without compromising network security.


Milestone 1
Duration Q1 2023
Launch of the website
Launch of social media (TG, Discord, Twitter)
TG already available Telegram: Contact @LAP_Protocol
Hiring of additional developers in team for smart-contracts and dapp development.
Deployed NFT contract at IoTeX blockchain.
Launch of NFT mint.
Funds requested: 10,000 USDT

Milestone 2
Duration Q2 2023
Deploying a LAP node
Dapp deployed and tested on IoTeX blockchain.
Service launch.
Funds requested: 10,000 USDT

Total funds requested

20,000 USDT

Please checkmark the following if you agree

Although these options are not mandatory, please consider committing to them for the greater benefit of the IoTeX ecosystem.

  • We commit to open source the project: [YES]

  • We commit to stake [1 200 000] IOTX on the IoTeX Blockchain: [YES]

  • We commit to donate [ PERCENTAGE ] of [ OUR TOKEN ] to the IoTeX Foundation: [There are no plans to issue a token]

About your Team

Matthias (founder, author of protocol idea)
Dominic (part-time smart-contracts developer)


The planned turnover of the protocol is 50 million IOTX per month.

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  • I Like this proposal
  • I Don’t like this proposal

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I don’t trust it since there is no team info.


Hi - @Gopinath has a valid concern. Can you tell us more about the team? The community wants to be comfortable with the developers of this project. I like the idea of this value being unlocked.


Hi, Marcos! Thank you for feedback! Yes, @Gopinath has a valid concern as any sane person, but as written above, we do not intend to issue tokens or block TVL in the protocol. We want to provide a service and receive a commission for it. Our team consists of 2 developers, one of whom can work half-time. Which was basically the reason asking for a grant, as with such a resource it might take longer to develop a project. However, judging from the voting, perhaps this was a bad idea.:sweat_smile: In any case, thanks for your attention! We are interested in the project and believe the community needs it. I am not afraid to say that there is no equivalent to this project in any blockchain in the crypto-space, and we will continue to work on its implementation. Thanks for your attention. :raised_hands:

1 Like

I wouldn’t give up so quickly - kind of a small sample size. And yes, this is a potentially useful service.
Community! Chime in with more thoughtful questions. I know there’s a subset of people with ‘stakelock regret’ who might want to use this.

1 Like

I don’t like the fact that the creators prefer to be anonymous. It’s a normal marketplace, from the description, so I’d think the creators would like to take credit for it. If the creators want to be anonymous, I think they should also take no commission from the transaction, and release the software as freeware.

Hi! Yes, it will be in a marketplace format, it says so above . “The creators would like to take credit for it”. Could you clarify what you mean by that?

I think iotexpunk done by annomus team but they delivery good product. Without asking any grant i like that. But if i am putting my staking bucket sale then i need see the code and audit of the platform.

Sure. Safety is a top priority.

Hello, IoTeX community! We close our apply, because IoTeX team release own vision of implementing this issue: iip-13 Represent Staking Buckets As Non-fungible Tokens by CoderZhi · Pull Request #18 · iotexproject/iips · GitHub. Accordingly, we assume that our project was not even seriously considered by the core IoTeX team and we unfortunately didn’t get any feedback from the founders for that reason. So we see no point in waiting any longer for our project to be supported through HaloGrants (because it will never happen). However, we will continue our work and try to bring the launch of the project as close as possible according to the milestones. Thanks to all those people in the community, who voted, and a special thank you! to those, who voted “yes”!
Best regards, Team LAP.

1 Like

The project you have submitted does not meet the application requirements of Halo grant at present.

But what I think startup project in ioTex need
-social media
-team information
-Project Deck

If you want to communicate your ideas with iotex halogrant, plz check your mailbox and we can discuss more.

Unfortunately, you failed to notice or ignored the fact that we cancelled our application. Request a grant here was not productive and was waste of time. That you (IoTeX team) write here is not consistent with the way you do things. “Supporting projects at any stage of development” is just pretty words. We are not going anymore to share our ideas with anyone else. All the best!

Greetings Tony,

I am pleased to express my admiration for the proposal you have put forward, and I do believe that it has the potential to create a positive impact on the community. Thank you for your efforts, and I wish you the best of luck in successfully executing this project.