Proposal: Integration of Perpetual Protocol with Shapeshift

Background
Shapeshift is a non - custodial platform that offers a wide range of decentralized finance services such as trading via 0x DEX aggregation, cross chain swaps via Thorchain and interest generating accounts by providing ETH or FOX liquidity to Uniswap v2. The platform started in 2014 and now on the 14th July 2021 has established itself as a DAO, decentralizing its structure and aligning with its ethos of financial sovereignty. The platform has done $6B in trading volume since it introduced swaps in 2015 and currently has over 180K monthly active users.

Proposal
Establishing a grant for integrating Perpetual Protocol v2 into the Shapeshift UI supporting web, mobile (both iOS and Android), Keepkey support (the hardware wallet by Shapeshift). There would need to be a project manager, UI/UX designer and engineers in order to integrate.

First step in the bounty would be first the design of the UI/UX implemented on all platforms which would need to be submitted for community review. This should include a staking page where users can directly stake their PERP.

Second would be the integration and implementation of the UI/UX, which will be tested and approved by the project manager.

Finally Keepkey integration which will also need to be test and approved by the project manager

Grant Size
The total size of the grant will be $100,000 in PERP tokens paid out in 1/3 increments for each one of the above steps completed.

3 Likes

In principle I support that proposal but…

Perp still has no limit and stop oders, hence it´s an incomplete UX on the most basic level. Apparently the ressources were allocated towards the development of V2, which makes somewhat sense from a long term point of view, but before Perp has all standard features that a normal broker interface provides, it´s counter productive to seek massive expansion in user base.

Users who get a bad first experience are unlikely to give it a second try.

I say we talk about this again in 3-6 months.

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I will note that this proposal is for ShapeShift to own the front end and implement this. So implementing limit orders is definitely doable!

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Sounds really exciting. Has there been any dialog with ShapeShift, and are they commited on integrating with Perpetual Protocol?

We have been in touch with Shapeshift and there is alot of interest on their end =)

Any feedback on this proposal would be appreciated =)

Hi all, are there any dashboards/resources to prove that 180k+ MAU number?

Also, would appreciate receiving any other metric-related dashboards/data points about the Shapeshift platform’ usage.

Do not have any strong opinion whether this integration is worth its resources (both money + time) or not atm.

As I understand, your answer implies that limit and stop orders are a matter of the front end. I guess that´s one way to go about but then I honestly wonder why the native perp front end doesn´t provide this functionality since the inception. Especially since you have a team taking a grant for that. It´s not a complicated issue if you have the server handle it.

An update on this issue would be appreciated.

My understanding is that in v1 the blocker was essentially the vAMM design, but you can trade at apex.win front end for these order types.

In v2 its easier to have these order types and I believe they will be included in the Perpetual front end.

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This is a decent amount of money for an integration from a UX and development standpoint.

Will there be some brand recognition for Perpetual Protocol in the design or is this essentially white labelled perpetuals? If white labelled they should be paying us a subscription or discounting their development costs.

Are there timeframes for delivery?

Can we see a breakdown of the proposal costs for each three steps?

Also are all three required, or can we move ahead with only 1 and 2?

Hey! More details about the usage can be found on here

For the 180k+ MAU I got these from one of the co - founders of the shapeshift platform

Assuming this would come from the “Ecosystems & Rewards” bucket? Generally sounds like a great proposal idea to me - hopefully would encourage other projects to build on Perpetual Protocol leveraging their own treasuries/funds in the future.

But I agree with the comment above - can you break the $100k (perhaps by each of the three buckets or by resource)? Just want to understand how you arrived at $100k.

Also - could you provide some type of ROI analysis? For example, what is the projected monthly volume expected as a result of the integration?

ROI analysis is always going to be hard to do and is always going to be top down which is very very hard. It could be anything from 0 volume to out of the field volume.

I will make a couple of points here that should help everyone with understanding:

  • Protocols like ShapeShift are going to have lots of other competitors competing for time to integrate. If we want to be the first we will need to be aggressive in both the amount and putting our best foot forward
  • If we aren’t aggressive with acquiring these partnerships first it’s guaranteed that some other protocol will be trying the same thing. And if you think about it from their viewpoint, if they have something in that vertical already the incentive to build something that does the same thing is a lot smaller (especially given there is an infinite amount of other interesting financial products you can integrate with)
  • The amount is based on prior integrations that the ShapeShift DAO has completed and was numbers sourced by them. Given it’s quite a lengthy integration in comparison to others it seems to add up here

Basically the view here is that if we want to stay competitive and aggressively expand our trading volume we need to take bets like this. We should be ok with taking a bet like this and having it go to 0 (i.e. we get no trading volume), knowing that at least one of them will deliver returns in spades

2 Likes

Agreed.

Just to make sure I get this right: The perp DAO allocates the 100k USD to an independent team (or team of Shapeshift?) to integrate our product into their ecosystem. The perp team does not need to allocate working hours to this integration, right?

If that´s the case then let´s go full steam ahead. Looking at the reserve fund, money is not the bottle neck, but human resources and business development is.

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Yessir! Hit the nail on the head.

3 Likes

If there’s no other items to discuss I’ll be looking to create a snapshot for this in ~24 hrs

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