Milestone 1 Backpay proposal is now live
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1.0 Abstract
TeraBlock CrossDEX, a ground breaking decentralised exchange platform, to bridge the interoperability and liquidity gaps between the HIVE and EVM-compatible blockchains. This initiative aims to enhance HIVE's DeFi capabilities, attract new users, and increase Total Value Locked (TVL). Leveraging TeraBlock's proven Swidge Protocol, CrossDEX promises a seamless, user-friendly DeFi experience, setting a new standard in blockchain interoperability and liquidity solutions.
2.0 Executive Summary
2.1 Overview The HIVE blockchain, known for its community-driven governance and feeless transactions, has yet to capitalise on its DeFi potential fully. This is mainly due to limited interoperability and liquidity with EVM-compatible chains, which are central to the DeFi ecosystem.
2.2 TeraBlock's Solution We propose the HIVE CrossDEX, a user-friendly decentralised exchange platform, leveraging our Swidge Protocol to bridge the gap between HIVE and EVM-compatible blockchains. This initiative is going to address several critical challenges and transform the HIVE ecosystem
- Bridging the DeFi Infrastructure Gap
- Bridge Liquidity Gaps
- Simplify User Interaction
- Boosting On-Chain Trading Volumes
- Simplifying HIVE Token Acquisition
- Direct Fiat to Crypto Gateway
- Expanding User Base
- Foster Ecosystem Growth
2.3 Impact CrossDEX is set to revolutionise the HIVE ecosystem by increasing liquidity, user engagement, and market competitiveness. It will offer features like EVM to HIVE bridges, one-click swaps, and liquidity pools, making HIVE more accessible and appealing.
2.4 Our Track Record Our partnership with Splinterlands on HIVE has been a success, showcasing our capability with significant transaction volumes and user engagement. We've also collaborated with Genesis League Sports (GLS) to enhance the HIVE blockchain sports sector. These successes underline our expertise and readiness to develop CrossDEX using our proven Swidge technology.
2.5 Call to Action
We seek the HIVE community's support for this transformative project. With your backing, we can extend our success across the HIVE ecosystem, unlocking new growth opportunities and establishing HIVE as a DeFi leader.
3.0 TeraBlock Overview
TeraBlock stands at the forefront of the DeFi revolution, offering a gateway to decentralised, trustless and comprehensive financial services. We facilitate frictionless transactions from fiat to crypto across any blockchain, embodying the ease of Web2 with the transformative power of Web3. At the heart of TeraBlock's innovation is the Swidge Protocol, a one-click solution that automates the complexities of blockchain interactions, making them invisible to the end-user.
3.1 Company Vision and Mission
Our vision is to democratise access to DeFi by removing the barriers that prevent mainstream adoption. The future of finance is open, borderless, and inclusive, and we are committed to building the bridges that connect traditional finance (TradFi) with the decentralised finance (DeFi). Our mission is to create a platform where anyone can confidently and efficiently participate in the DeFi ecosystem, regardless of their technical expertise.
3.2 Swidge Protocol
The Swidge Protocol is TeraBlock's proprietary cross-chain technology, enabling users to swap assets across blockchains with a single click. It is designed to handle the underlying complexities of cross-chain transactions, including smart contract interactions, liquidity sourcing, and token conversions. Swidge protocol is not just a tool but a foundational technology that can be integrated with blockchains to expand its DeFi capabilities.
3.3 The TeraBlock Ecosystem
The TeraBlock ecosystem is a comprehensive suite of DeFi Infrastructure-as-a-Service (IaaS) that includes:
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Liquidity Pools: Supporting EVM and non-EVM tokens across blockchains.
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Cross-Chain Bridges: Facilitating the movement of assets between blockchains.
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Swidge Protocol: Enabling fast, secure, and user-friendly one-click cross-chain swaps.
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Fiat On-Ramp & Off-Ramp: Allowing users to enter and exit the crypto market directly with fiat currency.
4.0 The Need for CrossDEX on HIVE
The HIVE blockchain, known for its vibrant community and fast transaction times, stands on the cusp of a significant evolution. Despite its strengths, HIVE faces challenges that limit its potential in the burgeoning DeFi space. The introduction of CrossDEX, powered by TeraBlock's Swidge Protocol, is poised to catalyse a transformation that will unlock new possibilities for users and developers alike.
4.1 Addressing the TVL Challenge
- Current Issue: HIVE needs to be listed among blockchains with significant DeFi TVL, indicating a lack of significant DeFi activity and liquidity.
- CrossDEX Solution: Establish a measurable TVL for HIVE, enhancing its visibility and attractiveness in the DeFi market.
4.2 **Amplifying DApp Ecosystem** - **Challenge:** HIVE's DApps show potential but lack depth due to liquidity constraints. - **CrossDEX Impact:** Facilitate one-click liquidity inflows from leading blockchains, enriching HIVE's DApp environment and user engagement.
4.3 **Simplifying Fiat On-Ramp**  - **Problem:** Acquiring HIVE tokens is complex, involving multiple platforms. - **CrossDEX Approach:** Introduce a direct fiat on-ramp and off-ramp, simplifying the process for new and existing users.
4.4 **Enhancing User Experience**  - **Barrier:** Cross-blockchain transactions are complex and daunting. - **CrossDEX Feature:** Offer one-click transactions, making the user experience fluid and accessible, especially for blockchain newcomers.
4.5 **Fragmented Liquidity** - **Current State:** Liquidity on HIVE is dispersed, leading to inefficiencies. - **CrossDEX Role:** Enable smooth liquidity transfer between various blockchains, attracting a broader audience and larger liquidity providers.
4.6 **Empowering Developers with CrossDEX SDK** - **Challenge for Developers:** HIVE developers face challenges in user onboarding and integration due to the complexity of blockchain interactions and the need for extensive coding. - **CrossDEX SDK Solution:** The introduction of the CrossDEX SDK will revolutionize this process. It offers a streamlined, easy-to-integrate solution, enabling developers to focus on their core products while ensuring seamless user onboarding and interaction with just a few lines of code. This approach simplifies the development process and enhances the overall user experience, bolstering HIVE's position as a competitive DeFi platform.
4.7 **Benefits of CrossDEX** Addressing these challenges is at the core of TeraBlock's mission. By introducing CrossDEX, a comprehensive solution that includes liquidity pools, cross-chain bridges, and a seamless user experience, TeraBlock aims for: - **Ecosystem Synergy:** Bridges the gap between HIVE and other major blockchains, fostering a more interconnected and robust DeFi ecosystem. - **Innovation Showcase:** Demonstrates HIVE's capacity for innovation, attracting developers and projects to build on its platform. - **Community Empowerment:** Empowering the HIVE community by providing more control and options for managing digital assets. - **Strategic Partnerships:** Opens avenues for strategic partnerships with other blockchain projects, enhancing HIVE's network effect and value proposition. - **Economic Growth:** Stimulates economic activity within the HIVE ecosystem, increasing demand and value for HIVE tokens. - **Decentralisation:** Reinforces the decentralised ethos of HIVE with governance and operations that reflect the community's voice and interests.
The integration of CrossDEX on HIVE is not just an enhancement; it's a necessity for the blockchain to thrive in the competitive DeFi market. It addresses critical gaps, reduces entry barriers, and lays down the infrastructure for HIVE to flourish as a leading DeFi ecosystem. With TeraBlock's proven technology and strategic vision, CrossDEX stands ready to usher in a new era for HIVE, its users, and its developers.
5.3 **Community Engagement and Governance**
Recognising the decentralised nature of HIVE, we are committed to engaging with the community at every stage. We will seek feedback, provide regular updates, and ensure the integration aligns with the community's vision and governance protocols.
The proposed integration of TeraBlock's CrossDEX with HIVE is a forward-thinking move that promises to deliver tangible benefits to the HIVE ecosystem. It is a comprehensive solution to address current limitations and propel HIVE into a new DeFi innovation and growth era.
6.1 **Features of TeraBlock CrossDEX**
- **Liquidity Pools:** CrossDEX will introduce liquidity pools to HIVE, allowing for decentralised trading of a wide range of assets.
- **Cross-Chain Bridges:** The EVM to HIVE bridges will enable the free flow of assets between HIVE and other EVM-compatible blockchains, increasing the diversity and utility of assets on HIVE.
- **Swidge Protocol:** The integration of the Swidge Protocol will facilitate one-click cross-chain swaps, bypassing the complexities of blockchain interactions and making them straightforward and user-friendly.
- **Fiat On-Ramp & Off-Ramp Services:** Users can directly convert fiat currencies to HIVE tokens and vice versa, streamlining the process of entering and exiting the HIVE ecosystem.
6.2 **Benefits to the HIVE Ecosystem**
The HIVE CrossDEX is designed to address several critical challenges and transform the HIVE ecosystem
- **Bridging the DeFi Infrastructure Gap:** Currently, HIVE faces the challenge of an undefined Total Value Locked (TVL) due to a need for robust DeFi infrastructure. CrossDEX will provide the tools and platforms to establish a definitive TVL, attracting more DeFi activities.
- **Bridge Liquidity Gaps:** CrossDEX will significantly enhance liquidity within the HIVE ecosystem by connecting HIVE with other significant blockchains.
- **Simplify User Interaction:** The integration of the Swidge Protocol will offer a user-friendly interface, making DeFi accessible to everyone.
- **Boosting On-Chain Trading Volumes:** The integration of CrossDEX will significantly increase on-chain trading volumes by facilitating more accessible and efficient transactions.
- **Simplifying HIVE Token Acquisition:** The complexities of purchasing HIVE tokens through centralised exchanges deter many potential users. CrossDEX will streamline this process, making it more accessible.
- **Direct Fiat to Crypto Gateway:** The intricate process of converting fiat to crypto on HIVE will be simplified, providing a direct and user-friendly onramp and offramp.
- **Expanding User Base:** By addressing these challenges, CrossDEX will retain and engage the existing community and attract new users and investors, expanding the HIVE ecosystem.
- **Foster Ecosystem Growth:** With improved infrastructure, CrossDEX will stimulate the development of new DApps and attract more users and developers to HIVE.
6.3 **Long-Term Vision**
The long-term vision for TeraBlock CrossDEX on HIVE is to provide immediate benefits and lay the groundwork for sustained growth and innovation. We envision a thriving ecosystem where:
- **DeFi has become mainstream on HIVE**, with various financial services available to all users.
- **Developers are empowered** to create DApps that leverage the full potential of CrossDEX's features.
- **HIVE becomes a hub for cross-chain interactions**, recognised for its ease of use and advanced DeFi capabilities.
The HIVE CrossDEX is set to be a transformative addition to the HIVE blockchain, bringing a suite of features that will catalyse the growth of its DeFi ecosystem. With a focus on user experience, diversity of assets, and direct fiat integration, CrossDEX is poised to elevate HIVE to new heights in the blockchain space.
**Milestone 1: Swidge Protocol Integration**
- **Description:** Implement a one-click swap feature for over 60 tokens from BSC and Ethereum to HIVE tokens.
- **Duration:** 4 weeks
- **Development Costs:** $28,080
- **Outcome:** Targeting 57% of the DeFi market, enabling users to effortlessly purchase and transfer Hive tokens from BSC and Ethereum to the HIVE blockchain.
**Milestone 2: Web2 Onboarding & Wallet Management**
- **Description:** Streamline user onboarding to HIVE with account abstraction and EVM wallet integration, including a comprehensive wallet manager.
- **Duration:** 6 weeks
- **Development Costs:** $59,280
- **Outcome:** Simplified onboarding via Gmail and other options, with EVM wallet connectivity for a complete overview of users' DeFi assets across HIVE and EVM blockchains for user portfolio management.
**Milestone 3: Fiat Gateway Integration**
- **Description:** Enable direct onboarding from 100+ fiat currencies to Hive tokens on the HIVE blockchain.
- **Duration:** 3 weeks
- **Development Costs:** $28,080
- **Outcome:** Integration to facilitate Hive token purchases with 140+ fiat currencies in 170 countries directly on the HIVE blockchain.
**Milestone 4: Liquidity Pools & Staking**
- **Description:** Introduce direct liquidity pools staking on the HIVE blockchain through user funds on the supported blockchains.
- **Duration:** 6 weeks
- **Development Costs:** $71,760
- **Outcome:** Users can stake liquidity on the HIVE blockchain, attracting liquidity from other blockchains and boosting HIVE's TVL.
**Milestone 5: Expanding Blockchain Integrations**
- **Description:** Add over ten new blockchain and supported EVM & non-EVM token integrations to the platform.
- **Duration:** 4 weeks
- **Development Costs:** $53,040
- **Outcome:** Broadening the user base by integrating more than ten new blockchains and supported tokens, enhancing HIVE's appeal and functionality.
**Milestone 6: SDK Development for DApps**
- **Description:** Develop an SDK for HIVE DApps to integrate CrossDEX user onboarding services seamlessly.
- **Duration:** 6 weeks
- **Development Costs:** $ 68,640
- **Outcome:** Empowering DApp developers with a simple SDK to streamline user onboarding, attracting more DApp founders and businesses to the HIVE platform.
We aim to demonstrate our capabilities through each milestone, ensuring a transparent and collaborative development process that aligns with the community's needs and expectations.
These milestones represent our commitment to making HIVE a leading blockchain in the DeFi space. These enhancements will significantly benefit the HIVE community, attracting new users and developers and fostering a more vibrant and robust ecosystem.
#### 5.0 Proposed Integration with HIVE
The proposed integration of TeraBlock's CrossDEX with the HIVE Blockchain is a strategic initiative designed to enhance the utility, accessibility, and performance of the HIVE ecosystem. This section outlines the approach, components, and anticipated impact of the integration.
5.1 **Core Components**
The integration revolves around several core components, each serving a critical function in the CrossDEX ecosystem:
- **Cross-Chain Decentralised Bridges:** These will serve as the conduits for liquidity to flow between HIVE and other EVM-compatible blockchains, expanding the reach and capabilities of HIVE's DeFi offerings.
- **Swidge Protocol:** At the heart of CrossDEX, the Swidge Protocol enables one-click cross-chain swaps, dramatically simplifying the user experience and reducing the technical barriers to entry.
- **Fiat On-Ramp and Off-Ramp:** These will provide direct pathways for converting fiat currencies to HIVE tokens and vice versa, bypassing intermediary exchanges and enhancing user convenience.
#### 6.0 Features and Benefits of CrossDEX
The HIVE CrossDEX is engineered to be a cornerstone of DeFi activity on the HIVE blockchain. This section delves into the specific features of the CrossDEX and the corresponding benefits it's expected to bring to the HIVE ecosystem.
#### 7.0 Technical Roadmap and Budget
> **In response to the community feedback we've restructured the TeraBlock CrossDEX project into six clear milestones. This approach allows us to apply for the DHF grant for each milestone individually, showcasing our ability to enhance the HIVE blockchain's DeFi infrastructure.**
> **Based on [@deathwing](https://peakd.com/@deathwing)'s suggestion, we have adopted the backpay model for the HIVE CrossDEX DHF grant. The grant will be released in the upcoming DHF proposal once a particular milestone has been achieved and not upfront. This would demonstrate TeraBlock's commitment and allow the HIVE community to effectively assess our progress and contributions.**
Implementing TeraBlock CrossDEX on the HIVE blockchain is a structured process that will unfold over six milestones and it requires a well-planned budget that covers all aspects of development, testing, deployment, and maintenance. Below is a detailed breakdown of each milestone.
#### 8.0 Splinterlands Case Study
8.1 **Introduction**
In the dynamic world of blockchain gaming, Splinterlands stands out as a flagship game on the HIVE blockchain. However, despite its popularity, Splinterlands faced significant challenges that hindered its full potential. TeraBlock, with its innovative DeFi solutions, stepped in to transform the g