Hive-Engine DAO Funding Proposal

By November 3, 2020DApps
Click here to view original web page at peakd.com
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Hive-Engine is an opensource, layer-2, smart contract platform built on top of Hive, which powers communities and Dapps. Hive-Engine is seeking development funding to provide a more decentralized service, a greater range of off-the-shelf, modular, smart contracts that developers and dapp designers can use to create novel services, communities, and dapps, a number of back end performance enhancements, and lastly better interoperability with ETH and BTC.

What's the purpose of Hive-Engine?

Hive-Engine is a witness project managed by @aggroed which seeks to develop the Hive ecosystem by enabling community formation and dapp creation. The backend is an opensource community project hosted on github. The front-end, hive-engine.com as well as tribaldex.com are part of a private business.

Who are the founders of Hive-Engine?

The original founders of Hive-Engine are yabapamatt, aggroed, and harpagon.

Who works on the project now?

aggroed - Director
cryptomancer - smart contract and dev ops lead
lion200 - dswap & hive-engine.com front-end development lead
bait002 - web designer, mobile app designer
reaziliqbal - front end developer, and dapp developer
eonwarped - Nitrous creator and developer, smart contract developer
donchate - smart contract developer
inertia - documentation and block explorer guru
gerber - advisor and support
clayboyn - customer support lead
someguy123 - Privex support for the crypto token converter

What can Hive-Engine do now?

  • Hive Engine supports community and dapp creation. Hive-Engine users can create:

  • Fungible Tokens - which can be allowed to stake or be delegated, these power communities and businesses.

  • Nitrous - A fork of condenser, which uses Fungible Tokens created on Hive-Engine as an additional reward pool. Essentially users can create their own blog with rewards.

  • PoS mining - This is supported both as an off the chain and on-chain smart contract. Users can create inflation pools and doll out rewards to stakeholders.

  • Non-Fungible Tokens- NFTs from Hive-Engine power multiple Dapps already. Dcity, Rising Star, and nftshowroom are 3 examples.

  • Nested FTs in NFTs - Users can create NFTs with FTs inside of them.

  • Beechat - A chat tool (and mobile app soon) that can be used to communicate between members of the Hive Community. It's able to be integrated for free into any dapp. The client side is open source.

What is Hive-Engine developing?

Hive-Engine is looking to be the home of no-code, modular, smart contracts, which a project manager can integrate into services and dapps without the need to code anything (just configure). By doing this we're hoping to make Hive the easiest place in crypto to create a community and form a business.

In order to have the best experience possible we're looking to implement several things:

  1. A P2P system
  2. More modular smart contracts
  3. General performance enhancements
  4. Bridge to Ethereum and ERC20s
  5. BTC markets

What's are the benefits?

  1. A P2P system helps ensure that servers operate a specific way and continue to operate that way. Hive-Engine can make unilateral decisions on hard-forks now, which is a concern to many users. By implementing a voting system and ensuring that the network consents to upgrade the system is protected from unpopular and potentially unethical changes.

  2. Modular Smart Contracts - The range of options to Dapp designers and features of various websites are completely dependent on what Smart Contracts exist. While not every contract should live on the Hive-Engine platform itself there's many examples of smart contracts which benefit multiple apps, which we intend to create. Examples include:

Pack Manager - sell packs containing randomized NFTs
Bid Markets - Bid market where users can put up funds to purchase certain NFTs at a specific price
Auction Contracts - ebay inspired auction of NFTs
Liquidity Pools - Uniswap inspired liquidity pools
Witness-style Voting Systems - community leadership by consensus
Automated Payouts - Automated payouts for convenience and dapp development
Air Drops - trustless air drops
Claim Drops - trustless claim drops

These projects typically take at least a month by seasoned developers. Coding can typically be done much faster, but unit testing and maximizing resource efficiency on the blockchain end up being significant contributors.

Each one also needs front-end website development to allow a simple interface for community and dapp developers to easily utilize them.

  1. General Performance Enhancements - full block log replays take 2.5 days to complete. That's pretty long. We're looking to cut that down both for the core node and account history.

  2. Bridge to Ethereum and ERC20s - Hive is a fantastic resource for developing community and dapps, but one place that it's severely weak is in the price of the $HIVE token. This one gap creates endless headaches in that it's difficult to get the funding required to build here because HIVE is essentially looked at as a backwater chain by serious blockchain investors. To overcome this gap we have to tie the financial markets of Ethereum to the ease of use of Hive, and that can be accomplished by created SWAP.ETH, SWAP.ERC20s, SWAP.ERC721s as well as the reverse action of creation Wrapped Hive, Hive-Engine Fungible Tokens, and lastly Hive-Engine NFTs.

  3. BTC Markets - every exchange out there bases trading pairs on BTC. Hive-Engine needs to add the same capability so that users can choose their market of trading tokens against BTC or Hive.

Budget

I'm requesting 1000 HBD for 100 days for a total of 100,000 HBD.

P2P development and testing - 20,000 HBD
Smart Contract Development - 40,000 HBD
Performance Enhancements - 20,000 HBD
Ethereum Bridge - 10,000 HBD
BTC market - 10,000 HBD

Payment request will start Nov 24 (after the refund proposal is finished).

What's the result?

By funding this project over the next 3 months Hive-Engine can continue development of the smart contract platform as a base for community and business growth, in a provably fair and community driven ecosystem, which is connected to the financial powerhouses of BTC and ETH. By combining ease of use of Hive/Hive-Engine with new modular smart contract capabilities powered by Hive-Engine and powered by the capital markets of the larger marketcap coins Hive will finally be setup for community and business growth.

If you want people, you need communities and businesses, if you want those they need an easy to use and robust smart contract platform to use. Hive-Engine is built for that goal specifically and needs your help to get all the pieces in place to do it.

Note these funds are ~98% for the development of the public, open source, community driven backend aspects of Hive-Engine and only a minor part are devoted to creating a handful of front-end forms for the smart contracts on hive-engine.com.

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