PARITY INDEX - introducing ratio markets, a new defi primitive to gamify on-chain rivalries.

[monsieurbulb]

Project Abstract

PARITY INDEX is a proof of concept for a novel decentralised finance (DeFi) system enabling the tokenisation of on chain rivalries through ratio markets, using financial engineering to empower David vs Goliath competitions.

The first ratio market to launch on the protocol is Kusama vs Polkadot and the PARITY token. The rivalry is captured in real-time through their relative market caps, which is the current ‘price’ to mint or burn the token.

Grant level

• Level 1: Up to $10,000, 2 approvals
• Level 2: Up to $30,000, 3 approvals
• Level 3: Unlimited, 5 approvals (for >$100k: Web3 Foundation Council approval)

Application Checklist

• The application template has been copied and aptly renamed (project_name.md).
• I have read the application guidelines.
• Payment details have been provided (Polkadot AssetHub (USDC & DOT) address in the application and bank details via email, if applicable).
• I understand that an agreed upon percentage of each milestone will be paid in vested DOT, to the Polkadot address listed in the application.
• I am aware that, in order to receive a grant, I (and the entity I represent) have to successfully complete a KYC/KYB check.
• The software delivered for this grant will be released under an open-source license specified in the application.
• The initial PR contains only one commit (squash and force-push if needed).
• The grant will only be announced once the first milestone has been accepted (see the announcement guidelines).
• I prefer the discussion of this application to take place in a private Element/Matrix channel. My username is: @_______:matrix.org (change the homeserver if you use a different one)

[keeganquigley]

Hi @monsieurbulb things like DeFi primitives should generally go through Velocity, for example via the DeFi Builders Program. Have you tried this route yet?

[monsieurbulb]

Hi @keeganquigley im aware of the defi bounty/velocity yes, but have been previously told this is for Polkadot (DOT) / hub based deployments only. I've reached out anyways. We thought given you W3F grants guidelines this was more suitable.

[keeganquigley]

Thanks @monsieurbulb you could also try the Kusama treasury since it is Kusama-focused. That being said, personally I have to say I think Parity would have an issue with the name "Parity Protocol" since users might infer that Parity developed it. My recommendation would be to change the name :)

[keeganquigley]

Hi @monsieurbulb unfortunately the proposal was not able to garner enough approvals to be accepted. Given the above statements, as well as the fact that the grants program has shut down, I think it's best to table this for now. Also due to changing regulatory landscape regarding synthetic assets. Thanks for your time and we'll let you know if we see any potential collaboration opportunities down the road.