DAO Proposal: Mindful

:om: Introducing Mindful

Twitter: @mindfulcash
Medium: @mindful-cash

Ever told yourself you’ll take profits but waited far too long? Ever sold the bottom and then bought back higher? Ever FOMOed into an asset at the top after it went 10x?

Mindful was built out of a need. As DeFi natives ourselves, we wanted to learn from our mistakes and calm our degenerate tendencies.

With Mindful, you can adopt strategies to mindfully DCA into assets, create auto rebalancing portfolios (Chakras), and take profits automatically. Set your own strategy, or follow a guru.

Mindful’s intuitive UI guides users seamlessly through the Chakra creation and strategy-setting process. Built on Ethereum, it works with all major wallets and ERC20 assets. With Mindful, we hope to enable other crypto traders to invest mindfully, take the emotion out of trading, and actually realise profits instead of riding gains back down to the bottom.

:cherry_blossom: Progress

We built the first version of Mindful for ETHGlobal 2020 where we placed as a finalist and won a prize from Balancer Labs.

Since then, we’ve been working towards a mainnet release - targeted for late November / early December.

Features of the V1 mainnet release include:

  • Creation of Chakras (auto rebalancing portfolios of up to 8 assets)
  • DCA strategies
  • Profit taking strategies
  • Relayer incentivisation mechanics

We also intend to get everything audited prior to release - wouldn’t be very mindful of us to test in production.

:crystal_ball:Up Next

Aside from the features mentioned above, we have a few other ideas on how to extend Mindful’s functionality and the value that it provides users. Some of these include:

  • Find a Guru - Social trading features that allow users to mimic the portfolios and strategies of other crypto traders.
  • Group Chakras - Add funds to shared Chakras to save on gas fees and maximise potential profits.
  • Yield Farming for Idle Funds - Utilise idle DCA funds to generate passive income for Mindful users.
  • The Mindful DAO - The Mindful DAO will be used to govern shared Chakras, fees and incentivisation mechanisms and will help determine future development of the platform.

:innocent: Our Ask

We’re applying for the ETHOnline Post-Hackathon Support Program to help us build and release the first version of Mindful on mainnet.

At this stage, the team is treating this as a side project until we’ve released, tested with users, and found product-market fit. Mindful is currently in a post-hack state - there’s a good amount of work to be done to push us to our first mainnet release.

With that said, we are primarily looking for funding so that we can contract a reputable firm to conduct an audit of our code and contracts.

Funds will also be used for any infrastructure costs (e.g. Infura, hosting, contract deployment etc).

MetaCartel has been a key entity in the DeFi and DAO ecosystem - we hope to work closely with the community to get feedback and support from some of the most informed players in the space.

:wave: The Team

The Mindful team is comprised of a bunch of decentralised DeFi degens. We’ve hacked together at multiple events including: ETHCapeTown :trophy:, Diffusion :trophy:, Kyber DeFi Virtual Hackathon :trophy:, ETHBerlin :trophy:.

Chris Maree @ DeFiChris
Smart contracts, frontend, integrations.

Haythem Sellami @ HS10010110
Smart contracts, off-chain infra.

Chris Fulford @ chrisjgf_

Liesl Eichholz @ liesleichholz
UX/UI designs, copywriting, memetics.

Matthias Bachmann @ mattybchats
UX/UI designs, video creation, memetics.

:link: Links (but not links because limits)

GitHub: github com/Mindful-Cash/mindful.cash/
ETHGlobal Showcase: hack.ethglobal co/showcase/mindful-rec1A1jTI5wQcLPsp
Demo App: mindful.cash
Demo Video: youtube com/watch?v=mjzv3WPcnFY

(I had so many memes for this post but I couldn’t have more than one image :sweat_smile:)

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Mindful is being developed by a :100: team & is building tech for the future of DeFi :heart_eyes: