{"signature": "0x57b0d9287aa13356faa207f136339bce5f7ac0040ec6c763f539a5c07928cac07ba7d5998ceec30eb04f55bbe66a4d5baa324e1a01cc84e0e1f76ec31245dbbf1b", "application": {"round": "0xf50fa2dc5cbe583670323bc5acdeb02c447cd8b3", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "xhpeAxwo6NH/xADbQR5HVfqyhFoN7ioijD+vyHfyNCDxr+hDpsg8ZoYoj7F753F5", "encryptedSymmetricKey": "e889ba67c660204aba0e9fa41a1cc44a66cd23045a158026b20ee854a3e4bd0e6c8c1df10198dc49a9a3266d83a73d187fbe466eb68a3ebcd01a9ea790165a95e2932b5f1ce18978cbf4373295dd990cd05ea8e2f36e4da6e2045865fa3f09a4c952e943b183cb7abacd90599fd7857c51cb18562c9626389025d3af066ef7860000000000000020ebaeb951b3cfb1eb567855098417e0140b1533610f0215ade8b9b56cd5428e09d5b754b7ba5984c8fa9d3238be3c62af"}}, {"type": "link", "answer": "https://github.com/Kanoopz/lfghoHackathon", "hidden": false, "question": "Project GitHub Repo (Not Team Page)", "questionId": 1}, {"type": "short-answer", "hidden": true, "question": "Telegram Handle (you can answer N/A if none)", "questionId": 2, "encryptedAnswer": {"ciphertext": "qiwKdwzj1m+SMfgqx1NbbblaTgRPzLvOXUzmYngrN3o=", "encryptedSymmetricKey": "5cf4f5cb76f6f0a6b1bc3a29f07c23e39ea825c4d55fed479305d016cd1ec13b4eee8cce69800d32d91c645fa8e65e0e70d3f3eb3af5143ee07089f107c9d8f9fd477dfb9e13805d9cc2892cdc8801cfdc9ae18e9af16616cf8a06783ecd19b4b2c3d242282e1cb17ca437012a5a6d0452b12c98d421a86c64260c8574cf205a0000000000000020f423b8199c573cd5438eba636a48f0ab0ab63256747b1ad6f853d8892269740c16006e96fccfb9e438d469fd2d463cb8"}}, {"type": "link", "hidden": false, "question": "Link to your Public Group Chat (Discord or Telegram)", "questionId": 3}, {"type": "paragraph", "answer": "The \"./yieldGhoVault\" project aligns well with the round-specific eligibility criteria for contributing to the growth, development, and enhancement of the Aave and GHO ecosystems. Here's how the project meets these criteria:\n\nContribution to Aave and GHO Ecosystems:\n\nThe project utilizes Aave protocol directly by allowing users to supply collateral. This integration not only increases the amount of capital flowing into Aave but also enhances the utility and demand for the GHO stablecoin. By supporting the issuance of GHO through collateral deposits, \"./yieldGhoVault\" directly fosters the growth of both the Aave and GHO ecosystems.\n\nCreating Value for Aave Community:\n\nBy participating in yield generation activities, users can benefit from returns on their holdings, contributing to a more robust economic incentive structure within the Aave community. This increases user engagement and retention, vital for the long-term sustainability and growth of the Aave platform.\nAdditionally, by integrating off-chain legal agreements for lending and borrowing, the project opens up new avenues for Aave users to leverage their assets, thereby enhancing the financial products available on the Aave platform.\n\nPlatform User Benefits:\n\nUsers of the \"./yieldGhoVault\" benefit directly from innovative financial solutions such as earning fees from flash loans and engaging in cross-chain activities enabled by Chainlink's CCIP. This not only increases the utility of their GHO stablecoin holdings but also encourages broader participation across multiple blockchain ecosystems.\n\nThe project\u2019s emphasis on flexibility and multi-chain interoperability ensures that Aave users are not restricted to single-chain operations, which significantly broadens their scope of investment and interaction within the decentralized finance landscape.\n\nEnhancement of the GHO Ecosystem:\nBy pegging the GHO stablecoin at a 1 GHO: 1.5 USD value ratio and creating multiple revenue streams from the same collateral, the project enhances the intrinsic value and attractiveness of GHO as a stablecoin. This unique approach could lead to increased adoption and usage of GHO, directly benefiting its ecosystem.\n\nOverall, \"./yieldGhoVault\" offers a comprehensive strategy that not only supports the existing frameworks of Aave and GHO but also introduces innovative features to elevate their relevance and efficiency in the DeFi sector. This project clearly demonstrates a strong commitment to advancing the goals outlined in the eligibility criteria, ensuring that it contributes positively to the community and platform users.", "hidden": false, "question": "Please explain how your project meets the round-specific eligibility criteria.", "questionId": 4}, {"type": "paragraph", "answer": "1. Capital Inflow Metrics\n\nTotal Value Locked (TVL): Measure the amount of collateral deposited in the Aave protocol through the \"./yieldGhoVault\" project. An increase in TVL indicates greater trust and participation in the project.\nCollateral Utilization Rate: Track the percentage of deposited collateral that is being actively used for borrowing or lending, which helps assess the liquidity and efficiency of capital usage.\n\n2. User Engagement Metrics\n\nNumber of Active Users: Monitor the number of unique wallets interacting with the project. Growth in this metric signifies increasing adoption and user interest.\nTransaction Volume: Evaluate the volume and value of transactions conducted through the platform, particularly in terms of GHO stablecoin usage. Higher transaction volumes can indicate a successful integration and utility within the ecosystem.\n\n3. Financial Performance Metrics\n\nYield Rates: Analyze the average yield rates obtained by users through the platform. This helps determine the attractiveness of the project's financial products.\nRevenue Generated: Calculate total fees and other revenue generated from flash loans, liquidity provisions, and cross-chain operations. This reflects the economic impact and profitability of the project for its users.\n\n4. Risk and Stability Metrics\n\nDefault Rates: Measure the rate of defaults on loans facilitated by the project. Lower default rates indicate better risk management and user reliability.\nPrice Stability of GHO: Track the volatility and price stability of the GHO stablecoin, especially given its unique peg (1 GHO: 1.5 USD). Stability in price is crucial for user trust and for the token\u2019s utility as a stablecoin.\n\n5. Cross-Chain Interoperability Metrics\n\nCross-Chain Transactions: Count and evaluate the effectiveness and volume of transactions facilitated via Chainlink's CCIP. This measures the project\u2019s success in enhancing multi-chain interoperability.\nAdoption Rate of CCIP Features: Track how many and how often users engage with cross-chain features, indicating the project's success in expanding blockchain ecosystem interactions.", "hidden": false, "question": "How do you measure the impact of your project? Please provide examples and/or standard metrics. This might be used in future impact reports.", "questionId": 5}, {"type": "short-answer", "answer": "0", "hidden": false, "question": "Total Prior Funding for the project in USD", "questionId": 6}, {"type": "multiple-choice", "hidden": true, "question": "Which of the following funding sources do you have? Check all that apply", "questionId": 7, "encryptedAnswer": {"ciphertext": "7RfEiJ2lLwhgbqx6WoeXjJTI6j5mJAbhk5nnw8HR98k=", "encryptedSymmetricKey": "8bb1d9cbf316caab4471a00ca3b798693725584e3fdaa2d1b1a0463a8a5a9336faaadaf9cb7b899145c84090978d1906ed5f5e1379116bac3d577989e015d36e8a4eb4e0c2352e25bf54f2786e90a939f0a9ad569e37701f77452b6d8bfec783fa54728f5a8ba234e9b72cb8cae593dfd36d7bd3744bad678705eea8dbd4bd7d000000000000002057099113d9da834fc6c0bb156cdc9ebc87b0f082462b3b4fcf3124feb2f2fcd4d063bea0b3d04dc4b558fd7810241b8b"}}, {"type": "short-answer", "answer": "2", "hidden": false, "question": "Total Team Size", "questionId": 8}, {"type": "short-answer", "answer": "3 months", "hidden": false, "question": "How old (in Months) is the project? (We will use Twitter, domain registration, github, etc).", "questionId": 9}, {"type": "paragraph", "answer": "https://twitter.com/yoSoyDev_eth/\nhttps://twitter.com/0xDonPepe/\n", "hidden": false, "question": "Profiles or socials of other main team members publicly associated with the project (N/A for solo founders):", "questionId": 10}, {"type": "dropdown", "answer": "No", "hidden": false, "question": "Have you read and confirmed your grant abides by the Program General Eligibility Policy? ", "questionId": 11}, {"type": "paragraph", "hidden": false, "question": "Is there anything else you'd like to share about your project, previous work, or other affiliations? Is there anything you'd like to add that may help determine project eligibility?", "questionId": 12}], "project": {"id": "0xb45271c7e5456d40cbca0665606855233f6bff43b90f7a320975f2ebb027fd77", "title": "\"./yieldGhoVault\"", "logoImg": "bafkreihn2t3thaw3xw3ew7jxojkkwrisuuudvwrcqjnsce5tbg3olkkuti", "metaPtr": {"pointer": "bafkreihx2rb6m7m74samqqpqm4dfq4k3rdzogu23bfvzhahy3gequkgda4", "protocol": "undefined"}, "website": "https://github.com/Kanoopz/lfghoHackathon", "bannerImg": "bafkreihfzycawlmeu74shagvdqq3twqmwwafbninuy6munbvkfjc6e44ta", "createdAt": 1714077470672, "userGithub": "Kanoopz", "credentials": {}, "description": "\nThe \"./yieldGhoVault\" project aims to revolutionize the concept of stablecoin yield generation, addressing the current limitations of projects like USDC and USDT. While these stablecoins generate significant revenue from fiat collateral through treasury bond investments, they typically do not distribute these profits to their web3 users.\n\nOur platform offers a solution by providing three distinct avenues for yield generation, all stemming from the collateral used to issue the GHO stablecoin, with a 1 GHO: 1.5 USD value ratio. Firstly, users benefit from yield by supplying collateral to the Aave protocol, ensuring returns simply by holding the GHO stablecoin. Secondly, users can leverage their borrowing power through off-chain legal agreements, earning fees for lending.\n\nLastly, users have the option to leave their GHO stablecoin in the vault, where they can earn additional fees for providing liquidity for flash loans. Alternatively, they can utilize their holdings across various protocols, not limited to a single chain, thanks to Chainlink's Cross-Chain Interoperability Protocol (CCIP). This flexibility opens up a multitude of possibilities within the decentralized finance ecosystem.\n\n\n**The general flow and arquitecture is as follows:**\n\n- emailBased abstractedAccounts are used to onboard web2 traditional investors so they dont have to go through the hassle of understanding the concept of gas, signing, etc.\n\n- ghoInvestmentVault to manage internally the investments collateral that go to suppluy aave\u00b4s pool. It also provides infrastructure to offer flashloans.\n\n- debtVault to manage the debt of offChain legalAgreements for lending the investors borrowingPower.\n\n- Aave protocol to generate yield.\n\n- CCIP to let the investor and borrower use their gho stablecoin on any external crossChain deFi protocol on any evmCompatibleChain.\n\n![alt text](https://i.ibb.co/pntnByY/111.jpg)\n\nTo simplify the onboarding experience to the web2 traditional users we implemented abstractedAccounts with emailAuthentication and a creditCard ramp to supply liquidity as collateral for issuing gho with fiat.\n\nEVEN THOUGH THE FOCUS IS ON WEB2 TRADITIONAL USER, THE PROTOCOL CAN BE INTERACTED WITH ANY WEB3 NATIVE WALLET (METAMASK, RABBIT, ETC.)\n\n![alt text](https://i.ibb.co/KV7ZzCs/222.jpg)\n\n![alt text](https://i.ibb.co/BGfFhsb/333.jpg)\n\n![alt text](https://i.ibb.co/7jVmnDr/444.jpg)\n\nThe vault supplies the provided amount of collateral to the aaveProtocol and issues the gho stablecoin to a ratio of 1 GHO : 1.5 USD in value.\n\n![alt text](https://i.ibb.co/8s2b83P/555.jpg)\n\nOnce the investors collateral has been supplied to aave, if he reaches a legal agreement, he can apply the second type of yield: lending his borrowing power to a delegatee. This type of yield is done using the debtVault that manages all the logic and the process.\n\n![alt text](https://i.ibb.co/BjrgZVg/666.jpg)\n\nThe last step is to use the issued gho to generate a third type of yield; either with the same investment vault to gain fees on flashloans or to use it on external deFi protocols in the same chain or on any other crossChain deFi protocol thanks to chainlinks CCIP.\n\n![alt text](https://i.ibb.co/w45Z45n/777.jpg)\n\nHere's a condensed version of the roadmap for the \"./yieldGhoVault\" project:\n\nPhase 1: UX/UI Design\nObjective: Revamp user interface and experience.\nTimeline: Months 1-2\n\nPhase 2: UX/UI Implementation\nObjective: Implement the new UX/UI designs.\nTimeline: Months 3-4\n\nPhase 3: Web 2.5 Tools Implementation\nObjective: Enhance platform accessibility with mail wallets and non-KYC fiat on-ramps.\nTimeline: Months 5-6\n\nPhase 4: Security Audit\nObjective: Perform comprehensive security checks.\nTimeline: Month 7\n\nPhase 5: L2 Mainnet Deployment\nObjective: Launch on a Layer 2 mainnet for improved efficiency.\nTimeline: Months 8-9", "lastUpdated": 0, "projectGithub": "lfghoHackathon", "projectTwitter": "eth_mty"}, "recipient": "0xBEA6ACcf6cc55cAB756730Ce705b01F776b37B01"}}