Name of project: Degen Triggers - place limit orders on your pool stake
Proposal Wallet Address: 0xf773829a6cFF2a51B8fC4E0D146faE34182bf119
The proposal in one sentence: Place order to exit the pool when your pool share increases by xx%
Which category best describes your project? Pick one or more.
Build / improve applications or integrations to Ocean
Project Description :
I am active on Ocean Market and had stakes in many data pools at one point (still have in few). I always had to keep checking if my stake has reached a certain price point for me to exit the pool. Currently there is no automated way to create “limit order” (stake in or exit) for my stake in the pool. So, I decided to create this myself to allow myself and other community members to add/remove their stake when their pool shares reaches certain level.
What problem is your project solving?
Today there is no automated way for stakers to remove their stake or add new stake based on pool liquidity or stake based triggers. Due to this, stakers always have to keep refreshing the market app to check if their stake has appreciated and depreciated in value. This creates waste of time and bad user experience for such a wonderful technology created by Ocean Protocol. With ‘Degen Triggers’, stakers will be able to create triggers that will allow them to automatically exit the pool or stake more in the same pool.
What is the final product?
Full stake dapp (frontend + backend)
How does this project drive value to the Ocean ecosystem?
This project enables anyone to create triggers for automated actions to their stake. This not only saves a bulk of their time but also helps them take advantage of entry/exit opportunities that lasts for few seconds. Overall this creates for a very nice user experience (or degen experience)
Calculations for ROI
Lets consider on a conservative basis 50 stakers are using this dapp (there will be more users surely).
If they are able to save their precious time and contribute that time to either research pools, communicate in Ocean channels or recommend staking on Ocean Market (due to improved user experience). This is one direct advantage of this dapp. Imagine if degens don’t have to keep track of their stake and they can just set limit orders on their favourite pools, this will help will more txs on Ocean Market and improved trading volume. And quite possibly higher TVL in data pools (since more degens will be able to participate and stake)
Project Deliverable - Build / Integrate
Final deliverable will be web-based dapp + backend server + database to enable end-to-end operations
Project Deliverables - Roadmap
First release would be around mid-May 2021
Full stake developer and Full time degen
When I am not active in searching for yields, I develop dapps that improves productivity and efficiency
my humble github profile - https://github.com/barryjo