Multi-token Bonding Curves to bring Balancer Boosted Pools to ReFi

The team at Balancer Grants is excited to fund the R&D for a potential new use case for Boosted Pools in the Regenerative Finance (ReFi) space.

Multiple projects in the ReFi space are using Bancor based bonding curves to sustainably mint their tokens while providing a 100% liquid token. Currently projects GoodDollar and Commonstack use a single token as the collateral (cDAI, xDAI). GoodDollar and Symmetric have proposed to research and develop a bonding curve with a collateral token based on BPT which would allow projects to diversify their collateral, making it more robust, but also to include in it other assets of mission aligned projects, carbon tokens etc.

The aim of this grant is to create a tool which can be used by many projects to take advantage of Boosted Pools creating a sustainable ReFi ecosystem and bring TVL from projects using the solution.

The project will be split into 3 milestones:

Milestone 1 — Research how and which features from the requirements to develop. Some topics included:

• Using the different advanced Balancer pools (boosted/stable)
• Granular permissions management
• Fees
• Impermanent loss/Fees
• Asset value dropping to zero

Milestone 2 — Develop smart contracts (Symmetric/GoodDollar) and simple UI to interact with the pool

Milestone 3 — Audit before final launch

“The grant proposal is an interesting new potential use-case for Boosted Pools showing the versatility of the Balancer Protocol. We’re excited to see how this could expand the ReFi ecosystem bringing more projects to Balancer” — Burns, Balancer Grants Co-lead

“ Augmented bonding curves based on single-asset collateral has emerged as one of the key financial primitives in enabling community-driven projects such as GoodDollar to bootstrap liquidity. The grant to develop a new standard for a multi-asset bonding curves marks an important next step for both GoodDollar and the larger DeFi space at large. Balancer is the most advanced tool today for creating DeFi indexes, so it’s the obvious choice to build on top of as we take this next step in the protocol’s journey.” Hadar Rottenberg, co-founder & CTO, GoodDollar Protocol

“The Symmetric team is excited to build on top of the most flexible and secure protocol in the defi space with a fantastic group of partners spearheaded by GoodDollar. We look to leverage our experience with Balancer’s contracts into a useful piece for Balancer’s partners and community.” — Will Dudenhausen, Symmetric

About GoodDollar

GoodDollar protocol is a standard for free money as a public good — it does this through issuing a daily distribution of GoodDollar, a reserve-backed token, as daily universal basic income (UBI) to members. GoodDollar is currently the world’s largest and most engaged UBI community, with 50,000 daily active members who are claiming G$ as UBI, and using it peer-to-peer within its global community that spans the globe; with the vast majority of members concentrated in emerging crypto markets such as Brazil, Vietnam, Nigeria, and throughout Latin America.

About Symmetric

Symmetric version 2 brings the most flexible, efficient, and secure Defi to Celo and Gnosis chains. Built on Balancer v2, Symmetric has packed the best in Defi under the hood.

About Balancer Grants

The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and Ecosystem.

The BAL Grant program provides support and funding ($1K — $100K) to projects committed to supporting Balancer Protocol in achieving its mission to become the number one source for Decentralized exchange trades. This program is a good fit for individuals and groups that want to run a project that builds technology or resources on the Balancer Protocol.

Apply now!

If you are interested in supporting the development of the Balancer Ecosystem or want to build on top of the Balancer Protocol, this is your chance! Get started by filling in the Grants Application form. You can also check out our RFP page for inspiration!

For further questions about how the Grants SP works, check out the grants page, follow us on Twitter, or send an email to grants@balancer.community.