First of all I want to wish you a good start to this project and to be launched as soon as possible(just kidding 
).
And definitely will be good to give us some feedback like every two weeks or something like that where we can track progress for this fork.
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What benefits are there to coordinating privately? Also presumably you’ve been discussing this in the Tulip channels? Can coordination not continue there?
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The tulip channel started getting very cluttered and busy making it difficult to coordinate work.
Brainstorming can happen in tulip but the immediate project team needed to be able to ping one another and do a a lot of follow up on action items and task specific question before this forum post without scanning through a lot of post. We can start moving more of the conversation to tulip channels especially if proposal passes. I would just ask that we be very strict with where communication take place
- tulip swarm (for dev and direct work related defi discussion) vs
- tulip bees (for ideas and questions related to defi)
- use other channels for other discussions
Yes, we plan to have meeting minutes, trello, zen hub, github, calendar, and any other project mgmt tools open. I agree, I think it makes sense that we do a formal forum post ever week or two for a project update.
Thanks
Absolutely, this post is a preliminary project scoping communication for awareness and to get feedback from 1hive. Once some time is given for 1hive to share their thoughts on the high level scoping we dig deeper. We will try to post as much info as possible before the proposal so all questions can be thoroughly vetted.
The Tulip channel is a bit busy, if I make a new working group channel for this below the current tulip working group (accessible to those who have the tulip role) can we move discussion there? With the condition that it may be removed in the future.
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I do think what will suggestions is good. it will help the community understand agaave, and follow latest developments. (´ ∀ ` *)
also more transparent
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That’s probably a good idea to create a temporary new channel.
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I think the loan approach is reasonable personally, as it puts more pressure on you to ensure it gets delivered. However, we should have more detail on how funds will be used and to have @boring877’s questions addressed. Then when it comes to repaying the loan the community can decide whether the funds were used as specified, and taking into account the progress made at that point, decide whether they should repay it or not.
Do you have an estimate for the total cost?
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Yes, I will let @GreenHornet answer repayment question. We are on the same page with this I just want it to come from him.
Expectation on cost of project is to have 2 request for $30k. The first request would be $30k for mvp. The second request will be re-evaluated after mvp and have it’s own independent proposal so the community can asses if the mvp was worth the funding and if they want to continue funding/adjust. I don’t want to speak about v1 much since it should be up to the community how we should proceed on that based on results of mvp. It is possible The team for v1 will be some new and or different members.
Funding breakdown for mvp
- Honeypooh $40/hour, estimate 6 weeks, 20hrs/week = ~$5000
- Anisoptera $40/hour, estimate 6 weeks, 20hrs/week = ~$5000
- Sandpiper $40/hour, estimate 6 weeks, 10hrs/week = ~$2500
- Monstrosity $40/hour, estimate 6 weeks, 10hrs/week = ~$2500
- Greenhornet $40/hour, estimate 6 weeks, 20hrs/week = ~$5000
- Unknown Additional cost (more frontend/backend dev help) = $10,000
For v1 launch. Time line and cost we think should be similar
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So for a bit of context. I have been interested in forking one of the lending platforms for a while. Personally, I feel like we need to prioritise forking more DeFi protocols on xDAI as the network effect would really make xDAI orders of magnitude more attractive. I had a stab at Aave v1 myself a while back but it’s definitely not a one bee job!
With the bandwidth of the seeds fully tapped out with Celeste, and so save the endless talking I decided to finance the project with my own HNY knowing there is a risk I may never get it back. Also for this community to mature, we as a community need to take more initiative in pushing forward in the areas we feel passionate about.
1Hive has no core devs, If you want something done, you need to do that shit yourself!
So to get the ball rolling I put up my own HNY and sought out some of the most active members with the skills to make it happen and here we are.
As to how we will calculate the HNY value, we will be paying the swarm every two weeks. we will replicate what swarms currently do and take a USD value at the time we pay ourselves. as to not make the calculations messy, we will take the USD value of HNY from the first payout. the exception to this is @honeypooh (i don’t think he is on the forum). he will be paid in USD by myself.
I found him on upwork, and agreed a flat fee of $5000 ($1000) of which has already been paid. At a later date, we will make a proposal for funds from the HNY pot. the $5000 will be at the HNY price at the time of the proposal.
We are keeping track of our hours, although the reality is we will probably be doing more hours than the time than the hours billed. We are all bees and want to do what’s best for the hive. We are open to suggestions on how we can do this better. This is the first time a group of non-seeds have attempted something this ambitious and so any help is more than welcome
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cool stuff, wish you guys the best.
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Thanks for building this, this is a powerful dapp capable of not only bringing immense value to the HNY token but also opening up the xDai chain especially considering that nothing of such exists yet.
I do have a major concern thou and it is security. Given the rate of flash loans exploit in this space i hope the team will have that at the fore front of their mind while working on this project, not just flash loan exploit but all spheres of this project.
This is very exciting and i can’t wait for the product to be out. Hats off to all those involved in making this a reality.
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Can we have some background on the team members and their roles in this project?
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Considering Aave has about $2.5 billion in liquidity this gives us a bit of confidence in the contracts and they would likely be a bigger target than us. Secondly, we won’t be touching the contracts so this wouldn’t require additional cost for audits.
Sure,
Greenhornet - backend dev
Anisoptera - backend dev
Honeypooh - Frontend dev
Sandpiper - Frontend, help with connections and strong finance/economic support
Monstrosity - Project management
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Can we also have details of their backgrounds and what makes them suitable for their roles? As suggested in the proposal template.
Along with all proposals going forward, I also want to request that as part of this proposal you will update and maintain the 1Hive Wiki (https://1hive.gitbook.io/1hive/) with details about your project and swarm during its progress including guides where necessary.
Yeah, glad you asked, I will be doing this for sure.
This is awesome to see, amazing to see 1hive turning out some real development and great ideas/functionality, well done to all the team
how far are we on the progress of this project excited to use the Agaave platform soon