Grants

Development timeline – 6 months (4 months implementation, 2 months polish and integration).

Grant Amount – 350,000 FTN

Develop and implement a mechanism for futures and margin trading on a centralized cryptocurrency exchange. The development should be oriented towards the use of a web application for trading.

Description

The futures trading module allows users to engage in the buying and selling of futures contracts. These contracts represent agreements to purchase or sell assets at predetermined prices on specified future dates. Traders access a diverse array of futures contracts linked to commodities, cryptocurrencies, stocks, indices, and more. The module provides essential tools like real-time market data, advanced charting, and risk management features to assist traders in making informed decisions.

The margin trading module enables users to borrow funds against their existing capital. This module encompasses a broad range of assets such as futures contracts, stocks, cryptocurrencies, and derivatives. The module sets margin requirements, ensuring users maintain a minimum level of collateral to cover potential losses, while also providing risk management tools like stop-loss orders to mitigate excessive risks.

Expected Outcome

A functional and stable futures trading system ready for client use.

Testing

Development and execution of tests, including modular, integration, and system testing.

Coding Language

Backend: Golang

Frontend: React

Documentation

Preparation of detailed technical documentation, including API descriptions, deployment instructions, and system usage guidelines.

Bahamut Arena initiative is a multi-winner contest that the Foundation hosts concerning spheres, areas, or DApps that it is currently interested in funding, based on the needs of the network and its infrastructure.

The Bahamut Arena encompasses a priority list of project categories that are being updated based on the current state of the network and its infrastructure. Each category is a brawl among participants who have a certain period and requirement list to adhere to, to win the contest.

Each brawl has its tailored prize fund depending on the project category that will be paid out to all the participants who submit their project and fully comply with that category's requirements within the given timeline.

The Bahamut Arena smart contract will already have loaded the prize for each Brawl category, so applicants will be able to see what they are dealing with. Also, each applicant/participant will be added to the smart contract so that everyone can see how many applicants are currently participating in the given Brawl.

• Applicants must create a fully functional product with a working front-end.
• Each product from each category is highly encouraged to have a distinctive feature/innovation/addition to the classic, well-known product, aka fork, on the smart contract level.
• All smart contracts must be open-source and verified by the end of the deadline.
• An existing or planned smart contract audit is highly preferable and will significantly boost the chance of getting selected for a brawl.

Below is the current list of brawls, prizes, and timelines:

Applicants are encouraged to fill out the Bahamut Arena application form and present their past projects and strengths that they think will help them qualify for the Bahamut Arena participation.

Short-listed candidates from each category will further have a video chat with Bahamut Foundation representatives to complete their qualification criteria. Once selected, participants will receive an email confirmation, and their identity will be locked in the Bahamut Arena smart contract under the corresponding Brawl.

To submit the completed project, please send an email to [email protected] with the URL of the project, participation category, smart contract addresses, and a detailed description of how the project works. The email should be sent from the same address that was used for the application. All emails received before the countdown is finished will be considered valid, considering that the guidelines are complied with.

*If your project doesn’t fall under any Bahamut Arena category, you may still apply for a grant using the flow described below.

To apply for a grant, the applicants must be ready to provide the following information:

When submitting your application, be sure to specify why and how will it benefit the Bahamut network (e.g. Improve security, increase decentralization, improve infrastructure, open-sourced project, etc.)

If you're looking to apply for a large grant ($50,000-$100,000 and above) the process will be milestone-based. Suggesting project funding milestones is highly recommended.

The Foundation team will review all applications as they come in, and contact applicants if more details are required, or set up a call to discuss certain aspects of the project. After the discussion, the Foundation team may propose ideas, changes, or improvements after careful consideration.

The typical response time is within 2 weeks.

All applicants will be notified via email regardless of whether they were chosen for a grant or declined.

Bahamut Foundation welcomes all ideas connected to PoSA, Decentralization, and mass adoption of Web3. However, there is a list of criteria that all projects must comply with, in order to become eligible for a Foundation Grant. Here is the complete list:

• Validator Set up - All grant receivers must set up and maintain an independent validator node and link their smart contract to generate activity based on gas spent. The stake amount will be provided to the applicant in case of being chosen for a grant, in addition to the grant amount.
• Open-Source Project - All projects should be open-sourced and verified, allowing everyone to see and learn from them.
• Value - There must be a clear value proposition for your project and either the Bahamut network, the infrastructure, or its users.
• Execution - Proof that you and your team have the ability, skills, knowledge, and expertise to bring your ideas to fruition.
• Clear Use of Funds - We urge applicants to be thoughtful and have a clear plan on fund usage, and how much they will be requesting.

Grants are not to be considered as:

Personal Business Accelerator - Anyone is welcome to start their business on Bahamut. We would love to see organizations and individuals thrive with the help of PoSA. However, such projects typically do not carry large-scale value and will be excluded from the Grant Program.

Venture Capital - We currently do not offer grants as venture funding since these grants aim to improve the Bahamut ecosystem and enable projects that hold value to users to bring their ideas to life.