Name of Project:
Manta Ray Finance
Proposal in one sentence:
Manta Ray Finance will be a decentralized platform that allows users to earn rewards for holding MRF tokens, which will be backed by Ocean token.
Description of the project and what problem is it solving:
Manta Ray Finance will serve as the backbone of the growing Ocean ecosystem. The project aims to bring liquidity and new use cases for the Ocean token.
This platform relies on you, on people who are engaged in the Ocean Ecosystem and are Ocean holders. Together we can bring more value to this ecosystem and help it grow!
MRF (Manta Ray Finance token) will be backed by Ocean token, creating a stable, reliable, and valuable investment opportunity for Ocean holders. Platform users will be able to get rewards by helping the platform maintain the peg and by staking tokens.
If the platform succeeds to maintain the peg this will drive a huge value towards the Ocean ecosystem by creating a mirrored liquid asset that is benefiting from the Ocean token. In the short term, the project will have a very attractive APR for token holders, in the long term MRF is going to be a stable pair.
The scope may evolve significantly based on OceanDAO core / OPF planning in the next couple weeks. But the core goals remain: 'to serve as a backbone of the growing Ocean ecosystem, and bringing liquidity and new use cases to the Ocean token.
Grant Deliverables:
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UI/UX & mockups Design for the website.
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Setting up the domain and server.
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Website prototype
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The peg and reward algorithm.
Which category best describes your project?
Build/improve applications or integrations to Ocean
What is the final product?
Manta Ray Finance will be a decentralized platform that will allow users to earn rewards for holding Ocean tokens. These tokens will be backed by Ocean token, providing stability and reliability to the investment.
How well does the outcome of the project add value to the Ocean community/ecosystem?
Manta Ray Finance will help grow the Ocean community by providing a valuable investment opportunity and promoting liquidity and new use cases for Ocean.
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Funding Requested: 3000$
Proposal Wallet Address: 0x241355880Cdadca9D601567959fe40795c891213
Have you previously received an OceanDAO Grant?
No
Project lead full name:
Berkay Saglam
Project lead email:
Country of Residence:
Turkey
Core Team
Berkay Saglam
Role: Developer smart contracts & backend
Relevant Credentials:
Details:
Manta Ray Finance will help grow the Ocean community by providing a valuable investment opportunity and promoting liquidity and new use cases for Ocean. The final product will include the Manta Ray Finance platform, MRF tokens, and a peg algorithm. The platform will be used to manage the peg and will offer rewards to users who help to maintain it. Ocean will be integrated into the platform, allowing users to exchange Ocean for MRF tokens and vice versa. The project will also include a marketing and outreach campaign to promote the platform and drive user adoption.
Is the software open-source?
Yes Apache License, Version 2.0
We commit to collaborating closely with the OceanDAO core team.
What is the project roadmap?
- Q1 2022: Development and testing.
UI/UX Design for the website.
Smart contracts, peg & rewards algorithm
- Q2 2022: Deployment of the contracts, release of the Manta Ray Finance platform
Auditing the contracts & deploying them.
Publishing Manta Ray Finance’s platform website.
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Q3 2022: Marketing and outreach campaign begins
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Q4 2022: Continued development