Proposal to Build DAO Controlled Multi-Signature Wallet for Decentralized Exchange and DeFi

What Hive Needs

The absolute necessity of better solutions for Hive smart contracts can't be over stated enough. Recently Hive Engine lost more than $30,000 in a hack/credential misplacement. Tokens running on Hive Engine derive much of their value from the tokens stored in the swap account, meaning this one hack could have wiped millions of dollars out of the hive community.

Recently we've been working on a decentralized layer 2. During our test we've lost 0 Hive, and had more up time than Hive-Engine. Put forward in proposal 148 this open source protocol can be adapted for use by any token currently running Hive-Engine/Scotbot in under a day.

DAO handling a Decentralized Trade

HIVE HAS A DECENTRALIZED ADAPTABLE SMART CONTRACT PLATFORM NOW

We did it! We collected just under 600 Hive, and put together a secure, distributed, software solution for building logic using Hive. But we aren't done yet...

Of course just having a Token infrastructure is nothing with out an exchange to buy and sell the tokens on. Our DAO that maintains these Tokens also utilizes novel approaches to build a DEX of peers, which utilize their tokens to collateralize swaps. This paradigm has some advantages, but one key disadvantage is the inability to have partial fills on orders.

Next Steps

This is a funding proposal to build a system to autonomously control a multi-sig wallet.
This would enable among other things:

  • Partial Fills of DEX orders
  • Cheaper fees for DEX trades
  • Liquidity Pools for Cross Chain swaps
  • Community market for Account Creation

This stage of development and testing requires more resources. Namely, it must be run on a test net as lost Hive/HBD at this stage would not be insurable.

While our last proposal has yet to be funded, work continued because Hive deserves better, and certain accounts on Hive seem to exist only to charge fees to their users and stifle competition. Even if it didn't get funded now HE is working in a slightly more secure manner, with a network of validators. Competition is always good for the end user. Just the upgrade that HE pulled off in the last month was worth more to HIVE than our proposal was asking for. Blocktrades plans to build a layer 2, but with out the novel DEX concept will still need to charge fees to facilitate exchange between tokens, meaning our development will hinder their business model.

It's no secret that funding for this kind of proposal will be very hard to obtain with out Blocktrades and several key large accounts associated with Hive Engine. Which is why this we are giving ourselves a month to collect your votes. If you would like a better Hive, with access to the same kinds of features as Ethereum, with out having to worry about GAS fees. This is the proposal to vote for. We are a world class blockchain, it's time to have world class tools.

All our code is open-source. Find it here.

We are now asking for $500 HBD per day, for 60 days.

We have 2 developers working full-time. That's $43/hour(if we kept our selves to 8 hour a day - lol)
However, we have sever costs... still need to get our code audited, and put out updates like we have been, and have been working for free for the past two months.

By the End of April any community or business should have the code necessary to build their own token ecosystem, with it's own DEX, including partial fills on trades, with those fees going to it's own operators; It's own avenues for account creation; And the ability to program it's own smart contracts(or provide for open ones).

Due to the uphill battle we've faced trying to improve the Hive economy we strongly encourage every account to vote for this proposal. There is no Hive Power amount too small. We thank you for your support in advance.

VOTE HERE


For more information visit my blog or our website dlux.io

I can also normally be reached in discord as well.

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