DataX: Create Multitoken Trade/Stake infrastructure (Part 1)

OceanDAO Round 14
#1

Name of project : (DataX) Support multi network Datatoken swaps/stakes for any ERC20 token - Part1
Website : https://www.datax.fi/

Proposal in One Sentence

Create adapters (smart contracts) to popular crypto DEXs in each supported chain to allow non-OCEAN holders participate in trading and staking their tokens (USDT, USDC, ETH, BNB, MOVR etc.) natively in Ocean’s datapools using DataX

Proposal Wallet Address :

0xeFB850EA4963Eb6d1A914D4Eb0b114026da51623

Fund Requested

18750$

Progress Update

Check out our progress updates from last proposal of Round 10 here

Staging version of Dapp is live here and it works in all mainnet networks as well (Ethereum, Polygon, Moonriver, EnergyWeb, BSC)

Docs

We have docs user can refer to for usage instructions - https://docs.datax.fi

Video Tutorials

We also have demos of what we have built -

  1. TradeX : Datatoken to Datatoken Swap Video

  1. StakeX : Staking OCEAN into DataPool

Which category best describes your project? Pick one or more.

Build / improve applications or integrations to Ocean.

Project Description :

Currently, all Trading/Staking dapps on Ocean (incl DataX) only support OCEAN <> DT swaps and stakes. This limits the participation from non-OCEAN holders into Ocean ecosystem. This is a trillion dollar opportunity that we as Ocean ecosystem are missing out on. But what if we could provide a way to onboard these new participants by natively building seamless integrations and bridging non-OCEAN tokens to Ocean ecosystem. This unlocks a new potential especially when we know that Data Farming will open flood gates and create FOMO effect.
DataX is inclined to built and integrate this tooling natively into our platform.

Current architecture of OCEAN< >DT & DT< >DT Swaps on DataX

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New Architecture that this proposal is trying to introduce to allow ETH <> DT swaps (and other non-OCEAN tokens)

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As part of this proposal -

DataX will create smart-contracts (called adapters) to various DEXs (like Uniswap, Quickswap, Carbonswap, PancakeSwap etc.) for each supported network which Ocean Protocol supports. At the time of writing, the supported networks are -

  1. Ethereum

  2. Polygon

  3. BSC

  4. Moonriver

  5. EnergyWeb

These contracts are necessary to be able to swap/stake any ERC20 token (ETH, USDT, BNB, MATIC etc.) with OCEAN token to facilitate Datatoken trade.

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.

There are many more DataFi products that is planned in our roadmap.
Follow us to find out more -

Twitter - https://twitter.com/dataxfi
Linkedin - https://www.linkedin.com/company/78284014/
Github - https://github.com/dataxfi/
Discord - https://discord.gg/NedBpg7SWQ

What is the final product?

Web based Platform + APIs + 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 -

  1. Increase no. of daily active users on Ocean Protocol (via clear docs for TradeX)
  2. Increase TVL (via intuitive staking using StakeX)
  3. Vastly improve user experience for buying, selling, stacking and trading datasets (TradeX)
  4. Increase daily trading volume (TradeX)
  5. Generate revenue for Ocean community (by % cut that Ocean Protocol charges for consumes)

Project Deliverable - Build / Integrate

Using this grant, we will build following features and artifacts -

  1. DEX Adapters (Solidity Smart Contracts) are created

  2. These adapters support 5 networks (as mentioned above) that Ocean Protocol supports

  3. These adapters smart contracts are deployed in all 5 networks supported by Ocean Protocol

  4. Thoroughly test these smart contracts to rule out bugs and avoid hacks

Team members

DataX | Multitoken Bridge - datax.js and Datapolis integration (Part 3 of 3) | Round 16
DataX : Support multi network Datatoken swaps/stakes for any ERC20 token (Part 2 of 3)
#2

Thank you for submitting your proposal @dataX and @innoprenuer, I have updated Airtable and most things are in place however there are a few things missing before your proposal can be accepted into Round 14. Please provide us with your:

  • e-mail address (Project Lead)
  • Country

You can find these requirements in our Grant Proposal Template.

All the best!

1 Like
#3

Thanks for the pointer. Missing details updated in proposal.

1 Like
#4

Hi @dataX,

Thank you for applying for R-14!

I am a Project-Guiding Member and have assigned myself to help you.

I have reviewed your proposal and would like to thank you for your participation inside of the Ocean Ecosystem!

Your project looks promising and I believe it’s aligned with our evaluation criteria of generating positive value towards the Ocean Ecosystem and the W3SL.

The project criteria are:

  1. Usage of Ocean — how well might the project drive usage of Ocean? This work would enable people to play around with Ocean without needing to go out and acquire Ocean tokens all while still having Ocean tokens be purchased and used in the background. Sounds like an elegant proopsition.
  2. Viability — what is the chance of success of the project? It’s fair to assume this team has the skills required to execute and the reach to make sure it has an impact.
  3. Community active-ness — how active is the team in the community? DataX have been and will no doubt continue being active members of the wider Ocean ecosystem.
  4. Adding value to the community — how well does the outcome of the project add value to the overall Ocean community / ecosystem? Huge value. If executed well the potential impact of this project should not be understated.

Based on the reasons above, I am in support of your project and proposal. I look forward to continuing providing support and feedback to your project.

All the best!

-Your PGWG Guide

Scott__Sigil

1 Like
#5

Thank you @dataX for your update, your proposal is now Accepted into R14.

All the best!

1 Like
#6

@idiom-bytes Deliverables for Round 14

Adapter Contract (and supporting contracts) have been created and are available here.

These contracts are also deployed to all 5 networks Ocean supports -
Ethereum - 0xb1256a351cdf594a5df94ceb038b9c3fad082bfe
Polygon - 0xcfa2efbbe0d0a68bc764bd8f128439f19f704310
BSC - 0xb3522080d5f43f3d8e5af5fdcad8cd690779fb69
Moonriver - 0xb3522080d5f43f3d8e5af5fdcad8cd690779fb69
EnergyWeb - 0xEb909664fDA401aE5592c79604d7efb89D3d7738

DataX : Support multi network Datatoken swaps/stakes for any ERC20 token (Part 2 of 3)
#7

Thank you for your updates @dataX, your R14 proposal has been updated and was set to completed.