TL;DR
There is a significant gap in the current Nervos ecosystem, and we propose to fund us to develop and launch a Token Launchpad, followed by additional DeFi products to jumpstart the Nervos DeFi ecosystem. This proposal is to seek community feedback to shape this initiative effectively.
Introduction
Nervos is one of the most innovative blockchain but still after all the innovation, its full potential has not yet been tapped.
Nervos L1 is only used for transferring and storing CKB tokens but it is much more than this, here we can build DeFi applications that is not possible anywhere and Nervos community has recognized this gap and thus created the CKB Community DAO Fund to attract teams to build on the network.
Yet, we have not seen teams actively applying and building here.
There are several reasons for this:
- EVM Compatibility - EVM compatibility is perceived as the biggest barrier to adoption, and rightly so. Nervos is not EVM compatible because it aims to support a future financial system that surpasses current capabilities. The Ethereum Virtual Machine does not have the potential we require, and we cannot compromise our vision just to accommodate some teams who wish to fork and deploy Uniswap clones here.
- Difficulty to Build - This is somewhat related to EVM compatibility; it is quite challenging to build on Nervos. However, I believe this is not the main reason for the low developer activity here. There are already many blockchains like Cosmos chains that are difficult to build on compared to EVM but still maintain a much better ecosystem than Nervos L1.
The primary issue is not the difficulty of building but the potential that can be realized. There are many talented teams out there that could build unprecedented innovations using Nervos technology, but these teams believe they will have better chances of succeeding and growing big on other chains, and that’s why they overlook Nervos.
We are currently facing a chicken-and-egg problem where builders are not creating products because they believe Nervos lacks enough users, which leads to less adoption due to no DeFi products.
To break this cycle, we need to kickstart the DeFi ecosystem, demonstrate to developers that Nervos has the potential to become the leading chain.
To achieve this, I propose to fund us build and launch popular DeFi products on Nervos such as DEX, Lending Pools, etc., but starting with a Token launchpad.
Token Launchpad
The Token Launchpad allows teams to fund their projects not through venture capital but by getting funded by their community. This approach lets the community have a stake in the game and become active promoters of the project, while also showcasing the project’s trust within their community.
We have already built some initial designs for the token launchpad (view the figma prototype here)
Some designs for the DEX (not related to token launchpad, view the figma prototype here):
Impact
This project may seem straightforward, but it will significantly impact the Nervos ecosystem.
It can be used by existing or new projects to launch their tokens, and these initial token launches will serve as a beacon to show other teams how active the current Nervos community is in funding projects built here.
Attracting Teams: By offering a platform for funding, we aim to attract innovative teams eager to bring fresh ideas to life. This will help cultivate a variety of cutting-edge projects, further establishing Nervos as a nurturing ground for blockchain innovation.
Expanding Our User Base: The projects that will launch through our token launchpad are expected to draw new users looking for early opportunities and fresh products. Alpha-seeking users might not seem like the ideal users for Nervos’ mission, but these users are crucial for any ecosystem to thrive. They fund innovative products, and the token launchpad will play a significant role in attracting such users.
Strengthening the Ecosystem: The token launchpad will not be just a funding tool; it will be a strategic asset designed to attract a broad spectrum of users and developers, enhancing the overall network effect of the Nervos ecosystem. By enabling direct user support for projects, we foster a more engaged community and democratize investment within our network.
Introducing New Use Cases for CKB: Through this launchpad, we introduce new use cases for the CKB token, allowing it to be utilized not just for storing value but also for funding innovative projects that enhance the ecosystem further. This broadens the functionality and appeal of the CKB, aligning it more closely with the dynamic needs of our growing blockchain community.
Reducing Dependency on the DAO: This initiative will decrease the burden on the DAO to continuously fund teams, opening a new way for teams to get funded without becoming a burden on the DAO. By facilitating community-driven funding, we empower our users and project creators, fostering a self-sustaining ecosystem that thrives on its innovative and entrepreneurial spirit.
Why Us: The Blockdudes Team
At Blockdudes, my team and I have established a solid track record in the blockchain space. Our work spans developing and enhancing the infrastructure and applications across various chains and platforms, showcasing our capability to deliver complex projects successfully.
I, Amrit Kumar Jain (Github, Linkedin), am the CEO and Founder of Blockdudes and will be the Project Lead for this initiative. Our extensive experience in blockchain places us in a unique position to spearhead this project.
Our team’s diverse skills and collaborative approach guarantee the comprehensive development and execution of this project
Proven Track Record
As a collective, the Blockdudes team has successfully executed a range of significant projects, a few of which are:
- Decentralized Bridge: Worked with Vitalik Buterin to develop a decentralized layer 2 bridge.
- Mask Network: Integrated new features into the Mask Network browser extension.
- Unstoppable Domains: Assisted in integrating their service into various DeFi projects like Balancer, Enkrypt,zksync wallets, etc.
- Messari: We have worked with Messari on multiple projects, including developing several DeFi subgraphs that can be viewed at subgraphs.messari.io, this website is also built by us. We are currently working with them on building a large data project like Dune tables for multiple chains from scratch, which includes all Cosmos Chains, Filecoin, etc.
- Reserve: Developed DeFi collateral plugins.
- Verge: Developed ISO 20022 Application for Verge. Helping them integrate Smart Contracts in their chain
- Vetoken Finance: Constructed the project’s website, built smart contracts and data graphs.
- Osmosis: Collaborating to build DeFi Vaults and strategies.
These examples represent a fraction of our work. We’ve completed several other projects, and our collective experience and success will be instrumental in the development and success of our proposed project
Team Vision
Our long-term vision goes beyond this project.
We aim to establish ourselves as a core contributor to the Nervos Ecosystem, attracting TVL from all the blockchains to Nervos with our products
Our main goal is to significantly increase the TVL within Nervos, enhancing the ecosystem’s robustness, making it the premier platform for new projects, and importantly, elevating the user experience for everyone involved with Nervos.
Feedback
This is just an initial draft proposal we’ve created to gather feedback from the community that is needed to build a comprehensive proposal with exact features, technical details, timeline, milestones, etc.
We encourage the community to engage with this proposal, provide their opinions and feedback, and discuss its potential.
Your involvement is crucial for refining and realizing the vision of a more diverse and dynamic Nervos ecosystem!