{"type": "project", "title": "1delta", "logoImg": "bafkreidfudkxjgryupp2skdvcs5hxlwh3cj3hq37tbiubccbdm4nwzftoa", "website": "https://1delta.io", "bannerImg": "bafkreihiv5o3r4wifc6bm3udjersunnipojlsz5wmuxdafo5vjxaxlipci", "createdAt": 1724171352075, "userGithub": "Achthar", "credentials": {}, "description": "# Overview\n\n* Venus employs an innovative way to launch new lending markets in a flexible manner\n\n* The asset availability on Venus is therefore higher than on most other lenders\n\n* However, Venus users only have limited access to the full potential of margin lending since opening positions with high leverage requires manual looping. This results in high gas costs and a UX accessible only to experts.\n\n* At 1delta, we already solved this issue for a broad variety of lenders (see https://app.1delta.io/)\n  - Users can swap collaterals, increase leverage, decrease position and swap debts seamlessly\n  - Users do not need to migrate their positions to smart wallets or any other type of smart contract that holds positions of their behalf\n  - Users do not rely on any single UI and can always go back to the lender\u2019s page to see their positions\n  - The product extends the base lending experience by adding capabilities like spinning up a leveraged position with the lender with a minimal amount of steps\n\n* We want to build this experience for all Venus markets that technically allow that\n  - BNB Chain: All markets (Excluding the native asset BNB for borrowing as it does not implement `borrowBehalf`)\n  - Ethereum: All markets\n\n\n# Milestone 1: Implement Ethereum Mainnet Version ($10,000)\n\n* Implementation has to pass margin trading tests successfully on a fork-based test using forge\n\n* Available trade types:\n  - Open (Borrow->Swap->Deposit)\n  - Collateral Swap (Withdraw->Swap->Deposit)\n  - Debt Swap (Borrow->Swap->Repay)\n  - Close (Withdraw->Swap->Repay)\n\n* The implementation has to work for multiple Venus markets at in the same contract and must not require a smart contract upgrade in case Venus launches additional markets\n\n* Swap variations:\n  - Flash Loan-based swaps\n  - Flash Swaps (e.g. with Uniswap V3), these are more cost efficient than traditional flash loans \n\n\n#\tMilestone 2: Provide Typescript SDK ($5,000)\n\n* Create an SDK that allows creating calldata for the margin trade actions\n\n* Native routing for flash swaps as well as generic swap aggregator calldata as inputs\n\n\n# Milestone 3: Deploy Smart Contracts to Ethereum and integrate it into 1delta UI ($7,500)\n\n* Deploy the contracts on Ethereum Mainnet and integrate them into our app: https://app.1delta.io/\n\n* All markets (Core & ETH market) will be integrated  \n\n\n#\tMilestone 4: Extend Smart Contracts and Tests to BNB Chain ($5,000)\n\n* Create the smart contracts for BNB Chain markets\n\n* Write tests for the margin operations\n\n\n# Milestone 5: Deploy Smart Contracts to BNB Chain \n\n* Mainnet and integrate them into the 1delta UI ($10,000)\n* Deploy to BNB Chain and integrate all 6 markets into 1delta UI\n\n**Total grant request:** $30,000\n\n\n", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "1delta-DAO", "projectTwitter": "1deltaDAO"}
1delta
# Overview

* Venus employs an innovative way to launch new lending markets in a flexible manner

* The asset availability on Venus is therefore higher than on most other lenders

* However, Venus users only have limited access to the full potential of margin lending since opening positions with high leverage requires manual looping. This results in high gas costs and a UX accessible only to experts.

* At 1delta, we already solved this issue for a broad variety of lenders (see https://app.1delta.io/)
  - Users can swap collaterals, increase leverage, decrease position and swap debts seamlessly
  - Users do not need to migrate their positions to smart wallets or any other type of smart contract that holds positions of their behalf
  - Users do not rely on any single UI and can always go back to the lender’s page to see their positions
  - The product extends the base lending experience by adding capabilities like spinning up a leveraged position with the lender with a minimal amount of steps

* We want to build this experience for all Venus markets that technically allow that
  - BNB Chain: All markets (Excluding the native asset BNB for borrowing as it does not implement `borrowBehalf`)
  - Ethereum: All markets


# Milestone 1: Implement Ethereum Mainnet Version ($10,000)

* Implementation has to pass margin trading tests successfully on a fork-based test using forge

* Available trade types:
  - Open (Borrow->Swap->Deposit)
  - Collateral Swap (Withdraw->Swap->Deposit)
  - Debt Swap (Borrow->Swap->Repay)
  - Close (Withdraw->Swap->Repay)

* The implementation has to work for multiple Venus markets at in the same contract and must not require a smart contract upgrade in case Venus launches additional markets

* Swap variations:
  - Flash Loan-based swaps
  - Flash Swaps (e.g. with Uniswap V3), these are more cost efficient than traditional flash loans 


#	Milestone 2: Provide Typescript SDK ($5,000)

* Create an SDK that allows creating calldata for the margin trade actions

* Native routing for flash swaps as well as generic swap aggregator calldata as inputs


# Milestone 3: Deploy Smart Contracts to Ethereum and integrate it into 1delta UI ($7,500)

* Deploy the contracts on Ethereum Mainnet and integrate them into our app: https://app.1delta.io/

* All markets (Core & ETH market) will be integrated  


#	Milestone 4: Extend Smart Contracts and Tests to BNB Chain ($5,000)

* Create the smart contracts for BNB Chain markets

* Write tests for the margin operations


# Milestone 5: Deploy Smart Contracts to BNB Chain 

* Mainnet and integrate them into the 1delta UI ($10,000)
* Deploy to BNB Chain and integrate all 6 markets into 1delta UI

**Total grant request:** $30,000



1delta