Li.Finance Grant Application

philippz · June 30, 2021, 11:23am

Hey all together!

I got in here the wrong way and already submitted a proposal on DAOhaus

I’m Philipp and one of the founders of Li.Finance (LiFi).

Title
Li.Finance is a mesh of aggregated cross-chain liquidity networks and protocols to power next-gen DeFi projects with superior UX by making liquidity accessible when needed.

Description
By aggregating liquidity networks like Connext, Hop, Thor, Anyswap etc we’re helping layer 2 to find greater developer adoption. With our dapp-widget we help developers to provide a more frictionless experience and user-onboarding. That way we especially want to speed up layer 2 adoption.

Manifesto/Vision
We’re strongly believe in the backend we’re about to build. Having an aggregation layer across all bridging solutions would give us a lot of intelligence to build outstanding applications from cross-chain arbitrage to cross-chain yield optimization or analytics. We want to build something really big the whole ecosystem, even across chains, can rely on and wie aim to onboard as many developers out of our network to crypto as possible.

Problem
Liquidity is fragmenting across L2s and different L1s. Plenty of projects aim to bridge these gaps to provide faster cross-chain swaps but they’re all coming with the same problems of having to fill liquidity pools while coming with trade-offs on different levels like performance, trustlessness, security and overall UX.

Solution
We do not only aim to aggregate all these solutions, but we’ll provide splitted transactions, fallback solutions and a widget, to not only make the moving of funds possible where its needed, but also to make sure that the required swap can happen at any circumstance. Of course we provide full flexibility and customizability for networks, developers and users which networks to rely on so that everyone cann decide on their own how “custodial” solutions they are willing to risk.

Product
A backend that aggregates cross-chain liquidity solutions (like Connext, Hop, Thor) and DEXes and thirdparty integration widgets.

Validation
We already have an agreement with Connext go be their official widget.

Progress
Prototype will be released by the end of the currently ongoing HackMoney hackathon.

Differentiation
Max and I have a lot of experience building thirdparty integrations and large backends with proper abstraction layers and modular structures.

Team
Max and Philipp have been working together for over 8 years. They spent 6 years bootstrapping stomt.com which started as social network and ended as SaaS for the gaming industry. They‘ve developed over 30 different thirdparty integrations, a web platform, API and cross-platform mobile apps. Philipp did business development in over 14 countries and was frequently booked as speaker. The past two years, Max and Philipp launched several services in market intelligence and biotech.

Since Feb/Mar`21 we’re both full time in crypto:

8 prizes across 3 hackathons + finalists at EthGlobal, taking part in KERNEL III and received a first grant from Connext.

Grant Request $
$50.000 to support the onboarding of a new developer.

Funds
So far we only got $50k from Connext as our first grant.

Help
We could need help with introductions to other dapp-developers to integrate our widget.

Additional Resources
Here is a comprehensive overview as pitchdeck.

I had much more links in here but were not allowed to add more as a new user.

Looking forward to hear from you!

philippz · June 30, 2021, 11:25am

The already submitted proposal
Li.Finance Website

MoneyMage · July 1, 2021, 1:45pm

Hey Thanks a bunch for submitting, I’m going to DM you instructions for next steps in your application, so check your inbox

Yalor · July 1, 2021, 4:20pm

Hey @philippz I’m going to be totally honest here, This group doesn’t fund anywhere near what you’re asking for. We like to give super early team $2-5k on average. So your $50k request into the DAO bank was kind of a surprise also we don’t generally fund already funded teams, so if you happen to close a funding round at any point between now and when your grant approval it might kick you out of eligibility window.

That being said, if you want to cancel that proposal and revise your ask I think we could have you run through the proper channels and present this to the group.

philippz · July 1, 2021, 4:40pm

Hey Yalor,

thanks for being so straight forward. We’re not funded yet. We got one grant from Connext after having worked fulltime in crypto (without earning money) since February. We’re currently preparing to be able to raise more funds after finishing our prototype but before that, we’d like to get as many “stamps of approval” and community support as possible.

A 2-5$k also helps to onboard another developer to crypto. It covers that person for one month. More is better but any support helps, especially as even a small grant means “skin in the game” which implies more willingness to make introductions, is sort of an “stamp of approval” and helps with the growth of the project.

I scheduled a call for the 13th. I’m sure we won’t have closed a funding round by then

Yalor · July 1, 2021, 5:13pm

That’s pretty par for the course, I worked for about 24 months on crypto things before I found any funding as well , anyway looking forward to hearing more and seeing if our paths align on this one.

Yalor · July 2, 2021, 4:53pm

Please go and cancel this proposal DAOhaus

I don’t like looking at it in our DAO interface lolz

philippz · July 2, 2021, 5:50pm

Cancelled the proposal. Looking forward to the call If there is any other information I can provide upfront, please let me know.

MoneyMage · July 9, 2021, 9:21pm

@philippz you double-booked two sessions I have you for down for July 20th

philippz · July 11, 2021, 10:58pm

Hey, that’s weird because I cancelled the second one (20th). I’ll send you a PM, maybe we can find a better time via Calendly. I’ll be in Paris next week for EthCC (side events and hanging around, got no ticket) - we could also meet in person if you’d be there.

MoneyMage · July 12, 2021, 3:15pm

sounds good will respond via PM

joseph · July 13, 2021, 4:16pm

I’m really impressed, I think this would be a great ecosystem support project that would let us pool our polygon token CHILI with the Raid Guild’s token on xdai. $50k is a lot of funding tho, we usually start with smaller amounts, but definitely something I want to fund at some level. Also support daohaus bc DAOs deployed on all these different L2s find it hard to interact on chain.

joseph · July 13, 2021, 4:34pm

Soft consensus is fund. Here’s a little poll to see support of how much from the Cartel.

5000 DAI
10000 DAI

0 voters

Cartel members: please vote on support level, or comment if you are against funding and werent heard in the town hall

philippz · July 13, 2021, 5:10pm

Feel free to leave me any questions in the comments or DM!

joseph · July 14, 2021, 12:07am

@philippz can you confirm this is your new proposal in the DAO please? DAOhaus

Just sponsored it! so excited for what yall build!

philippz · July 14, 2021, 7:53am

Yes, it is! Thanks a lot.

Yalor · July 14, 2021, 8:22pm

Hey @philippz you missed your shot to become a DAO member you are allowed to add a request for one DAO share to your proposal. If you want to do that in post, feel free to setup another proposal for this and I will sponsor it.

philippz · July 14, 2021, 9:06pm

Ah damn it, I didn’t recognize that. Would love to become a member. Will create another proposal for membership. Thanks!

philippz · July 14, 2021, 9:14pm

Hope I did it right this time.

philippz · January 3, 2022, 5:53pm

Thanks, we btw now also released our SDK to get integrated into dapps directly.