Proposal details
Project Name
RelayChain
Project Type
Integrate IoTeX
Proposal Description
RELAY is a multi cross-chain platform developed to bring BaaS (Bridging as a Service) to help the often fragmented DeFi liquidity space. What is really unique to our bridge is that when a new ecosystem is created, our bridge connects that asset and ecosystem to all the other ones we support. At launch we currently support bridging to Ethereum, BSC, Avalanche, Polygon (Matic), and Heco — with more coming soon. Relay’s bridges were first to introduce the bridge gas token faucet to Defi where the bridge itself airdrops the native gas token to new users to reduce friction for people starting out on new chains.
Our goal at Relay Chain is simple, ““Have the best and safest bridge””. We will provide value to our token holders by giving them native gas tokens for providing liquidity instead of our native project token (RELAY). By doing this we eliminate all sell pressure to Relay and we can give the highest APY’s to Relay Liquidity Providers. This allows us to have a token that provides value, and it’s deflationary (via buyback and burns) which is doing with a portion of the gas token profits from bridge transactional volume. The brings the positive feedback loops and true ecosystem synergy into the Relay Chain ecosystem where all partners provide utility to the end users of our platform.
We we build a bridge to IoTeX and work with native IoTeX DEXs and protocols to bridging liquidity from other ecosystems.
Milestones
[ Split your project into milestones: each one must have its own verifiable deliverables]
- Milestone 1:
- Duration (weeks): 1 week
- Deliverables (make sure they can be easily verified): Build IoTeX Bridge
- Funds request (USD): 20,000 USD
- Milestone 2:
- Work with marketing and partner dexs to bridge $3M in liquidity to IoTex
-Funds request (USD): 10,000 USD
- Work with marketing and partner dexs to bridge $3M in liquidity to IoTex
- Milestone 3
- Onboard 5 (five) projects into the IoTeX ecosystem (marketing support, graphics creation, all bridging needs)
-Funds request (USD) 10,000 US
Total funds requested
40,000 USD
About your Team
anon team KYC’ed to MCN Ventures, previously Zero Dex ($130M TVL at peak), now running a bridge generating $6,000+ in fees daily and over $40M in TVL
Metrics
10M in TVL
Blockquote
Links
=== Do not change this section ===
By posting a proposal, you accept the rules below:
https://community.iotex.io/t/grant-issuance-rules/3839
Community voting
- I Like this proposal
- I Don’t like this proposal
0 voters
=== Please add Milestone Reports below ===