Name of project : DataX : Build Unstake + Manage Stakes features + StakeX Docs
Website : https://www.datax.fi/
Proposal Wallet Address :
Check out our progress updates from last proposal here
Staging version of Dapp is live here
Note - this is not the production version of the app and most likely has some bugs. You are most welcome to check it out and provide your valuable feedback. Please use test network (rinkeby) when testing it out. DataX team is not responsible for any loss of funds you experience while using test app)
We also have demos of what we have built -
- TradeX : Datatoken to Datatoken Swap Video
- StakeX : Staking OCEAN into DataPool
The proposal in one sentence :
This proposal covers 2 products :
TradeX - UI bug fixes to support corner cases.
StakeX - Build Unstake Feature + My Staked Pools Feature + StakeX Docs
Which category best describes your project? Pick one or more.
Build / improve applications or integrations to Ocean.
Project Description :
As seen in above video, Staking feature in StakeX is well implemented, tested and ready to go. We are still missing on two important features on StakeX -
- Unstaking OCEAN (if you have stake in pool).
- My Staked Pools (or Manage My Staked Pools)
Major part of the funds from this grant will go towards building these features. Also, we will add documentation for StakeX using funds from this round.
TradeX is trading solution that provides intuitive platform to buy, sell and trade datatokens using OCEAN + datatokens.
Using funds from last grant, we built the product backend + frontend + docs. Once part missing before launching it is UI related bug fixes. We have encountered some bugs on UI that covers corner cases (non-happy paths). We don’t feel comfortable (to avoid loss of user funds) launching the TradeX dapp until those bugs are fixed and dapp is well tested. Note that, happy paths are functional (as seen from video above)
Some funds will also be used to provide support for upcoming Moonriver network launch in both TradeX and StakeX.
What problem is your project solving?
DataX 's vision is a one-stop shop for all Data DeFi needs. We are helping to make data a liquid asset.
With TradeX, we are creating platform for buying, selling and trading datasets using any token (roadmap). With TradeX nearing launch, we want to create a detailed documentation on usage of this platform especially around how one can swap datatokens <> datatokens. And how one can switch between networks and use datapools published in other networks. We are also looking to provide multinetwork support (including Ethereum, Polygon and BSC).
With StakeX, we will create a unified staking, unstaking solution with added signals that allows users to stake/unstake ocean tokens in data pools. This product will play a significant role when data farming initiative is launched. Currently, Ocean Market and ocean.js puts restriction on % that you can stake and unstake on data pools. We dont have any such restrictions on StakeX, so users can freely stake/unstake tokens.
What is the final product?
Web based Dapp + Documentation
How does this project drive value to the Ocean ecosystem?
Explained in detail above in Problem being Solved section. But tl;dr this project will help with -
- Increase no. of daily active users on Ocean Protocol (via clear docs for TradeX)
- Increase TVL (via intuitive staking using StakeX)
- Vastly improve user experience for buying, selling, stacking and trading datasets (TradeX)
- Increase daily trading volume (TradeX)
- Generate revenue for Ocean community (by % cut that Ocean Protocol charges for consumes)
Calculations for ROI
One of the value add that StakeX brings is increase in TVL. With each OCEAN/DT staked, TVL of Ocean Protocol increases thereby attracting more users/investors to the OCEAN tokens and protocol itself. With Data Farming, users will be able to stake/unstake any no. of tokens without restrictions (that is put up by Ocean Market currently).
On TradeX side, UI bug fixes and proper testing will make TradeX more robust and help avoid loss of user funds due to trivial bugs.
If we consider, if realistically 1000 users (might be more once Data Farming is launched) are staking an average of 200 OCEAN tokens. That gives the bang as
bang 1 = 1000 * 200 = 200,000 OCEAN
If we consider that bug fixes helps avoid loss of funds of even 50 OCEAN from average 100 users
bang 2 = 50 * 100 = 5000 OCEAN
Total bang = 205,000 OCEAN (at current price of 0.95$, its 427,000$)
Bucks (fund requested) = 13,000$
So ROI = bang / buck = 205,000 / 13,000 = 15.76
Proposer’s estimate of % chance of success = 70%
Actual ROI = 0.7 * 15.76 = 11
Project Deliverable - Build / Integrate
Using this grant, we will build following features and artifacts -
- TradeX - bug fixes + testing
- TradeX - support for Moonriver network
- StakeX - Unstake + Manage Stakes feature development
- StakeX - testing all features + docs