Cowswap Budget Proposal
Review the response to CoW Grant application form below.
Majorfi @saltyfacu @poolpitako
- Major, yearn dev. They did the CoW Swap integration in yearn.finance
- Facu, jack of all trades. Doer. Main maintainer of Yearn’s Ledger plugin
- Poolpi, yearn dev. They helped develop a CoW Swap solver and tutorials for the community
This team has already deployed:
We are going to create dump.services
The site will offer the user the possibility of selling their tokens for another token, by focusing on UX and usability.
Main use case
A user wants to dump their wallet contents into a single token.
- User enters the site
- User selects the destination token
- User’s tokens are listed in a table, showing balances and approval state
- User checks boxes which token he wants to sell
- We do check that the amount/fee ratio makes sense, and alert them if not
- User approves all tokens they want to trade in CoW Swap
- Users can see the remaining time for their order
- All orders are sent at the same time to the CoW Swap API
Additional functionality for SAFE users
- Token approval batching
- Presigned batches
Grant Goals and Impact
Batching orders is the bread and butter of CoW Swap but unfortunately, users can’t create orders fast enough to be part of the same auction.
Having dump.services should increase the CoWs in the system reducing cost and increasing surplus.
Incentives for the team to maintain the website
- Yearn needs a similar process to sell specific tokens from some yearn multi-sigs and this is generalizing the use case to other users
- Increasing tx flow into CoW Swap should improve yearn solver COW rewards
- The site will have its own CoW Swap app id which should be used for the volume-based partner reward program
The website and main use case should be ready in a month top.
After a month, the CoW Grant Committee should review the website and decide if the site is functionally based on the initial proposal.
A year after release, CoW Grant Committee should verify if the website did enough volume to qualify for the volume-based partner program.
- 20k xDAI at the beginning of the project
- 20k xDAI when the website is in production and ready for the public
- Volume-based Partner Reward Program
We estimate one month for development, and we are budgeting one year in cost.
- $30 domain
- $50 p/month server cost => $600 p/ year
Total cost: $630
The rest of the money ($39,370) will be used for salaries:
- Frontend dev
Gnosis Chain Address (to receive the grant)