Foligator – track your defi returns on balanced network

Project Name: Foligator– track your defi returns on balanced network (previously balnfolio)

Project Category Development

Project Description

We propose to build a web platform to track portfolio of liquidity mining on balanced network. It will help liquidity providers to optimize their yields by having better insight of their investment. It will allow users to keep track of impermanent loss on various pools. The platform can also be used by the liquidity providers to perform research using comparison and forecasts of liquidity pool assets. Later, we would love to integrate other DEFI and NFT platforms on Foligator.

Background and Motivation

In order to find how your liquidity mining strategy has performed relative to your initial deposit, it is important to track Defi yields. That’s why yields farmers are always interested to find out how much gains they have made compared to HODL. There are many factors effecting the profit of a yield farmer.

  • Impermanent loss (IL)
  • Pool rewards
  • Yield earned
  • Token prices

Many balanced users are new to defi and liquidity mining. For new liquidity providers, its hard to get a clear understanding of impermanent loss (IL). Foligator will allow the liquidity provider to manage risk based on the comparison and improve the strategy to obtain satisfactory returns. All you have to do is enter a wallet address or connect your wallet and open your dashboard. The dashboard will have all the information you need for rapid and more informed decision making. Foligator will provide all relevant information at one glance.

Our motivation to build Foligator is to help all balanced users with a smart dashboard to monitor their liquidity pools. We believe that this project will benefit all current balanced users and bring more sidelined ICONISTS to the balanced network.

Deliverables

Foligator is a dashboard that will provide the following information.

  • Total deposits and net yields for all pools.
  • Portfolio history plot.
  • Open positions.
  • Pool specific data.
  • Impermanent loss.
  • HODL value vs current value.
  • Baln ROI, Price ROI and net ROI.
  • What if scenerios (new)
  • Yeild planner (new)

Project Duration 3 months

Project Milestones

First Milestone (1 month)

  • Obtain all the data for deliverables from the smart contract.
  • Perform pool-based calculations
  • Perform overall calculations

Second Milestone (1.5 month)

  • Design webpage for Foligator
  • Display pool specific results
  • Display overall results

Phase 3: Testing and launch (0.5 month)*

In the final phase, we will deploy and test the Foligator to fix bugs and improve the design. All deliverables will be completed and Foligator will be ready to launch.

Funding Request

The breakdown of our funding request is as follows:

  1. Backend Developer ($2400/m for 1.5 months)
  2. Front-end Developer ($1900/m for 2 months)
  3. Hosting and resources ($500)

Total = $7900 ($2635/m)

Team Name Trendpeek

Team Contact Information
Trendpeek.io@gmail.com

Team Background

We are a small team lead by @bearsurvivor. We have previously launched balnstaker which received overwhelming response form the community.

URL: https://balnstaker.herokuapp.com

8 Likes

I’m totally for this proposal. Right now stats.balanced.network comes from a few of the early contributors of balanced, and we should endeavor to have as many as possible. This looks like it will be an awesome product at a low cost to the DAO fund.

I have a few questions:

  • How do you plan to get the data, will you index the transfer/swap/add liquidity/remove liquidity eventlogs, use the geometry API or some other solution?
  • Will it support other ICON ecosystem assets besides balanced, or just balanced?
  • Does it track trading fees to LPs in addition to token rewards?
4 Likes

Thank you for your input.

  1. Initially, We will use geometry API (already spoken with the geometry team for collaboration and they are very helpful), tracker.icon.foundation, and our own API for some parts. Later, we want to use our own API for most of the data we need.
  2. It will support all pools on balanced.network. (Moreover, we want to integrate other icon ecosystem platforms like OMM.finance, craft.network, etc. in later stages, it is not included in this proposal)
  3. Yes it will track network fees paid to balanced stakers and LPs.
3 Likes

Love this - a definite yes from me!

5 Likes

This looks like a great initiative that I would gladly support. Thanks for the dedication and hard work!

4 Likes

I like that it will help us ICX defi newbies! Thank you @bearsurvivor!

4 Likes

I think this would be a great tool. You have my support.

3 Likes

Really like this! I really hope their is a token? This data shouldn’t be free!

IMO different tier levels or membership levels for the data is the way to go.

@bearsurvivor

2 Likes

Awesome offer. Will definitely support it. Just the name foligator throwing me off haha. Any meaning/direction behind the name?

1 Like

Wont support the proposal if it has charges beyond what is stated in the proposal. If they intend to do this the proposal needs to be updated indicating whatever tiers.
I am supporting this as a tool for current but more importantly new users to have confidence in using BALN defi services.

LOL I was wondering the same thing actually

Agree that the initial proposal should focus solely on functionality.

But just to offer another general perspective (not talking about this project specifically), projects that don’t have any business model and are just worked on for free don’t tend to upgrade very much.

What I’m trying to say is that we should still support projects that decide to monetize at some point if they want, otherwise the project could become stagnant long term with little incentive to add new features, fix bugs, etc.

1 Like

We changed the name “balnfolio” because we want to add other ICON defi platfroms in future, so the name must not only reflect balanced.network.
Why foligator?
We just played with portfolio + aggregator and came up with foligator… Also we have Alligator inspired theme :star_struck:.

2 Likes

After launch, the platform will be free to use for few months until we integrate all the platforms. So users have a chance to fully test our platform for couple of months before choosing to pay for membership.

As @benny_options mentioned, we need a business model to keep building and upgrading the platform. Without monatization we have to rely on DAO funding for building. Therefore, we will add a monitization mechanizm at some point. However, there will always be a free tier for addresses with less than10k in their portfolio.

We have not decided at this point that how we will monatize it, whether we want a new token or just use ICX/BALN giving them utility.

3 Likes

From experience with yield watch on BSC. They have a free version and a pro version. You hold x amount of their token to access the pro version data.

Personally 3 levels would be ideal

Under 10k free
Under 25k stake x amount of their token
Under 50k stake more of their token

I feel the best the would be an IDO on Balanced. We use BALN or bnUSD, say raise 250k for the team. And then farming for the community. And the team can farm more of their token for income for development.

I also think an IDO for Balanced would be very beneficial!

Alternatively the portfolio dapp could double as an IDO platform? And launch its own token.

Looks pretty good! I will vote yes!

Now that this is going to vote, there is something I was hoping could be clarified.

Is this vote to fund an expenditure on the part of Balanced, to fund it as a ecosystem improvement measure/goodwill.
Or will Balanced DAO theoretically hold a small stake in this new platform.
If its the former, is there interest on either side in the latter happening as well for a larger investment?

This is more of a grant than an investment I’d say, though a grant by Balanced can be viewed as an investment in itself