[SCP-TBD ]- Luna2 bounty to integrate into app.ShapeShift.com

Luna2 (aka phoenix-1 chain), was launched May 28th as a response to the debacle that happened with UST in May. The DAO now has a LUNA2 validator. It would be helpful to integrate it into the ShapeShift platform while the airdrop is still fresh for everyone. LUNA is trending (maybe for the wrong reasons) but the user experience is fragmented. ShapeShift has an opportunity to provide a delightful user experience for this new chain. Air dropped tokens remain locked and vesting for 6 months to 5 years, so delegation of these locked tokens is a potential, sticky revenue opportunity for the DAO. Terra2 already has about a $1.5 billon market cap with trading volume peaking at ~$1.5 billion on May 31st. Terra price today, LUNA to USD live, marketcap and chart | CoinMarketCap

With the work near completed on the Osmosis integration, staking (including re-delegation), send and receive integration for LUNA2 should be a small lift. It might be faster to another provider’s nodes instead of rolling it into unchained. I’m not sure and would want feedback on this from Engineering.

Trading of LUNA2 should be enabled on Osmosis soon so trading is not required for this bounty.

I do not think this should detract from the core engineering roadmap, so I am proposing a FOX bounty to integrate LUNA2 outside of the regular engineering roadmap. There are also a lot of stranded Terra developers who we could try to attract to work for the ShapeShift DAO.

Time is of the essence for this to be relevant. I would suggest a decaying bounty; as in, if completed in 1 month, the team would receive 100% of the bounty, decaying by 30% per month.

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Poll for size of bounty:

  • 500,000 FOX ($65,000 @ $0.13 per FOX)
  • 200,000 FOX ($26,000 @ $0.13 per FOX)
  • 100,000 FOX ($13,000 @ $0.13 per FOX)
  • 10,000 FOX ($1,300 @ $0.13 per FOX)
  • Don’t bounty a Terra2 integration

0 voters

2 Likes

Thanks for putting this together @Marley! I’m in favor of leveraging the groundwork we’ve laid with Cosmos and Osmosis to bounty out the work to add Luna. Curious whether @0xdef1cafe, @BeDiggy, and @Tyler agree, and if so, what engineering thinks a sufficient bounty would be. (we’ll need buy in from product, engineering, and ops before officially offering the bounty that if somebody builds it, they will prioritize the work to review, test, merge, and launch the feature). I know one of the goals when adding Cosmos & Osmosis support was to make it easy enough for a single developer to add a new Cosmos zone in a day, though not entirely sure how close we were able to get to that nor how soon we will be ready (@0xdef1cafe are we able to answer this yet?). If Luna goes well, I’d be interested in the DAO creating bounties for more priority Cosmos zones until hopefully we don’t even need to offer bounties because the network effects are enough of an incentive for any project to do the integration or offer the bounty themselves.

@Marley do you think there is potential for Luna to offer the bounty or go halfzies with us? I think it is worth asking and engaging with their community. if you agree, i’d be happy to support this and join a call with their community to drum up support and answer any questions.

3 Likes

also, i abstained from the poll because want to defer to engineering on bounty amount. my hope is that $10k total would be more than enough if we are anywhere close to that 1 engineer/1 day goal

3 Likes

My shower thoughts after posting this is this format should be used for adding future IBC chains.
Like XXX FOX per integrated IBC chain.
We should expand this idea and post an open bounty to integrate Juno, Umee and Luna as well as other (large enough market cap?) IBC chain.

I like the idea of going to other communities for matching bounties. I think JUNO and UMEE would be receptive. Luna’s new governance process is still new and honestly kinda a mess. Here is a link to the 330+ proposals that have been posted to LUNA already. A lot of the links in the proposals go to scam websites! DO NOT CLICK LINKS in the proposals details section: Ping Wallet

I’m willing to take the lead with reaching out to these communities, if we think it is worth it.

Another cool idea is an additional bounty for a github template, notion page or medium article for how to add new IBC chains to unchained and the web app.

Thank you for the feedback @willy.

2 Likes

Love the shower ideas ser :sweat_drops:

Wow, Luna’s governance right now is the messiest I’ve ever seen. Could still be worth reaching out while we figure things out on our end and as things (hopefully) calm down on theirs to see if we can get their community’s attention, but I hear you that we may have more success with JUNO, UMEE, and other future zones. Worth a shot though.

Fully agree that once the work is done to easily add IBC chains (or any chain for that matter), we should invest in clear docs for how to do this. Put together some very high level guidance back when we were chatting with IOTA about integrating their chain into ShapeShift here, but we need real docs from a real dev.

2 Likes

I have mixed feelings on this one, and am curious to see what the community thinks. If it were to be a bounty, I think it should be a small one – its honestly hard to say at this point whether it would be worth it for the DAO. Things are such a mess with them and I keep reading more bad news. I do agree with Willy though, I’m interested in the DAO creating bounties for more Cosmos zones!

Question.
To incorporate LUNA is:

  1. A technical advantage?
  2. An Economic benefit?
  3. An Act of kindness to all who lost?

Presently I only know LUNA to be a shallow ideal grounded on a very unsound concept, which highly benefited a few and took many down. Algorithmic Stable Coins based on nothing (LUNA) is not good logic. Sorry, to the offended. Back with real assets. Then, when the worried EMP, random asteroid, Nuclear Holocaust wipes all the digital metaverse the physical assets exist. Correct me if I am in error. Please.

1 Like

I think I am going to post this to Ideation but not as a LUNA2 bounty, but a bounty to integrate IBC chains with a set amount of FOX per integration. So not just LUNA, but focusing on the other chains like UMEE.

2 Likes

Moved forward to Ideation with an expanded scope: [SCP TBD] - Additional Bounties for IBC integrations - Ideation Thread