Foligator project completion report and additional budget request
Project Name:
Foligator
Project Completed
100%
Description
The project is completed and launched on 13th April 2022 around 9:00 AM UTC. We got overwhelming response on the launch day and received a lot of positive reviews from the community. We appreciate the support that Balanced community have provided.
Initially we thought that we could complete the project in 3 months but it extended to more than 4 months because we wanted a comprehensive testing before launch. We also added some features that were not the part of initial proposal but we thought they are necessary for better user experience.
Next Milestone
There is a lot of additional detail of the open pool position that cannot be displayed simply in a single table therefore next we will add details page for each LP open position that will show the following.
Individual pool performance plot (HODL strategy vs LP strategy).
Individual pool rewards plot.
Supplied token balance vs current token balance
All add/remove dates + tracker links.
Closed liquidity pool positions.
Prices at which Impermanent loss becomes zero.
Funding
We have initially requested the funding of total 7900 USD and received 4000 $ after the approval of DFP2 (Balanced Network Interface).
In addition to the remaining amount of 3900$, we request additional 2000$ (frontend react developer for a month) to execute the next milestone.
Noobs, will never know what it’s like calculating impermanent loss by hand. TY
Fantastic user experience my friend. The only thing I believe could use a second look is “invested amount” and “net value” while viewing sICX/ICX pool. The calculations are not adding up or I’m viewing this section wrong. I believe the invested amount is including old school Staked ICX in the wallet as well. This will show the IMP. ROI/LOSS to be incorrect as well.
Let me explain the calculation with an example and see if you are doing the same.
let’s say a user supplied 1000 ICX to the sICX/ICX pool and ICXUSD_Ratio on that day = 1 USD per ICX. Invested amount = ICX supplied *ICXUSD_Ratio = 1000 x1 = 1000 USD Now, after few weeks the ICXUSD_Ratio drops by 20% and becomes 0.8 USD per ICX HODL value = ICX supplied*ICXUSD_Ratio = 800$ if during this period the user got rewards of worth 10$ Net value = (ICX supplied*ICXUSD_Ratio)+RewardsValue = 810$
if your net value > hodl value, your imp. Loss will be positive (good)
if your net value < hodl value, your imp. Loss will be negative (bad)
-#- Note -#- sicx fee earnings are not used in these calculations
Initial liquidity provided as described above was prior to the live launch of Foligator. We just liquidated and reinvested the same amount. Data is accurate after the reset. Whoop.
We also have a section planned for the new Balanced landing page that highlights the DAO fund and projects that’ve come out of it, so we can showcase Foligator and encourage more to follow.