GP 2: Creating Custom CoW Protocol API

CoW Grants Program Rejected Grants
1

Grant Title:

Custom CoW Protocol API - focused around CoW vs AMM trades

Author:

Alexander from Multifarm

infol@multifarm.com

About You:

I am part of the Business Development team at Multifarm. I have prior experience as a Lawyer before changing my career and focusing on blockchain technology/cryptocurrency. I then was part of an Educational platform for Crypto related content in Africa. I then did multiple talks & events around South Africa where I started working with FTX to help spread awareness in South Africa.

Multifarm is a DeFi Data Platform that builds dashboards and data solutions for other protocols and DAOs. By starting out and building the most comprehensive yield farming dashboard in the DeFi industry we discovered the need to support other protocols in extracting data from the blockchain and making it visible in the form of different types of dashboards. Multifarm’s dashboards are easy to understand, fully customizable and benefit protocols and users alike.

Additional Links:

Grant Category:

Integrations and Protocol order flow

Grant Description:

Build an API where CoW team use to accurately identify the P2Peer & P2Protocol order flow going through their settlement contract for their tracking/monitoring/visualization needs

Cow Protocol API:

  • AMM routed vs CoW comparison (USD Values, Trade Count)
  • Total Value transacted
  • Total value transacted in %
  • Numbers of trades

Grant Goals and impact:

Our goal & vision is around creating an API whereby the CoW team can accurately identify the P2Peer & P2Protocol order flow going through their settlement contract for their tracking/monitoring/visualization needs.

Milestones:

  • Agree on API type, data format, speed
  • Extract the full batch auctions data from CoW protocol contracts
  • Agree on a definition of Full CoW, Partial CoW and No CoW
  • For Partial and No CoW, account for multi-hops and aggregator trades
  • Inspect and analyze the extracted data for a pattern to label trades as per the agreed definition
  • Testing and iteration
  • Develop endpoint to subscribe and listen to batch auction settlement transactions & automatically categorize them as per the agreed conditions
  • Prepare API documentation

Grant Timeline:

Our projected timeline is 5 - 6 weeks for completion of the CoW Protocol Custom API.

Funding Request:

We project the cost for the CoW Protocol Custom API at $40,000.00

Budget Breakdown:

We plan to allocate 1 Smart Contract Engineer, 1 Lead Backend Dev and 1 Project Manager to this project. The timeline for this will be 5-6 weeks.

Please read the detailed budget breakdown in our longer proposal: V1.3 - Multifarm.fi x CoW Protocol Proposal - 02-08-22 - Google Docs

Gnosis Chain Address (to receive the grant):

0x04dd23a3B1A1C1Fe257f890B37466adFf7240F80

Other Information:

The primary goal is to accurately identify CoW vs AMM trades

After the API is complete, the CoW team can comfortably use it for 6 months without any additional cost.

We also offer more dev-hours as needed, if you need future development by the Multifarm team. We could place a part-time dev or by the hour on future feature ideas/requests

Referral:

No

Terms and conditions:

2 Likes
2

Hi @AlexMultifarm, thank you very much for your detailed proposal. Apologies for the delays answering the request.

This Grant proposal makes a lot of sense. One of the best ways to sell on CoW Protocol value propositions is through the usage of data points to prove the users that indeed the protocol is capable of substantially obtaining big price improvements via CoWs. Not to mention the MEV protection aspect of CoWs…

Since this proposal focuses on what I am master of, the CoWs, I feel personally biased to pass it :upside_down_face:, nonetheless, I will relay it to the grants committee for evaluation and will follow up shortly.

2 Likes
3

This grant application has my consideration on two conditions.

  • The API source code is made open-source, so CowDAO may self-host the proposed software.
  • Outside of the requested $40,000 there are no ongoing fees.

I believe this way will ensure that CowDAO is not “locked-in” to paying for services it can easily self-host, and improves Value for Money (VfM).

1 Like
4

Thanks for your feedback guys. Just updated to Google Sheet and also posting it here for transparency:

Updated Notes - August 19th

  • We will open source the code and make a public repo on Github
  • It will be a modular docker project (i.e. to launch services easily)
  • Beside the 40k USD fee there will be no additional cost for the CoW team, since they can self host in order to improve Value for Money (VfM)
  • CoW Protocol will agree to shared tweet regarding the received grant and credit Multifarm in protocol documentation (can also be a short sentence)
  • The idea is, that the API can be used for other consecutive projects who build on top (e.g. Twitter, Discord Bot)
2 Likes
5

I’m giving my support to this grant application, the grant application, goals, as well as the updates following Netrunner’s concerns are convincing for me.

6

Based on the feedback I am signalling my support for this grant application.

7

After having reviewed the grant application and discussing this with the committee, I also give my support for this grant.

8

Posting it here for Transparency:

Updated Notes (per discussion/suggestion from netrunner.eth) - August 31st:

Payment Terms:

50% upfront and the other 50% upon delivery and acceptance (with the code reviewed by one of the team).

1 Like
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(post deleted by author)

10

Update: Need exact clarification again with team and then re-post.