To be discussed: #1 “Trust-less” as a requirement
There will be some kind of centralisation, basically, the bot will operate as an oracle. The wrapped HIVE will be own-able, and the bot will control it, as well as the real HIVE will be on the bot's account. Bottom line, I can't think out a way to make it completely trust-less, basically all Ethereum "bridges" are not trust-less, (except wETH)
To be discussed: #2 Preferred Dex
- Relevant documentation gathering. (1-2 hours).
- Planning of the project and material study. (1-2 hours)
Development (break-down by features)
- Creation of a mintable and burnable stable coin (ERC777 Contract) I already have this as a quick-start template, so need a day (maybe two) to customise it and deploy it (8-16 hours).
- We’ll need to add a burning function here to allow users to redeem their HIV tokens, so the function will burn x amount of tokens from the user balance and fire an event, to let the bot that user must receive real HIVE tokens (5-10 hours).
- Creation of a Hive bot which will receive HIVE tokens from users and mint wHIVE for the address specified in the memo. Roughly I estimate this for 5 days (30-40 hours).
Testing phase / staging (recommended)
- Reserved for testing/bug fixing/error handling (30-60 hours).
- Searching for the most suitable production infrastructure + deployment (10-20 hours).
EstimatesDevelopment fee: 45$/h
Estimated average project length (h): 112
Budget = 112h * 45$/h = 5040$
Note#1: In case of approval, this proposal will only be active for 2 weeks!
Disclaimer: all the time estimates are susceptible of variation due to the inherent uncertainty of the development processes. There might be missing intermediate steps that are missing in the breakdown.
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Best Regards, lightproject