Unstoppable Grants Proposal: Furucombo

Astar Network (Polkadot)
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Team Name:
Furucombo

Project Overview:
Furucombo is a DeFi aggregator that allows users to perform complex or multiple transactions from our easy to use interface. Examples are swapping tokens and bridging in one transaction, sending a token to multiple addresses through our multi-send cube, or managing positions on Aave or other lending protocols using our lending dashboard and position management features. Position management features are unique to Furucombo and are completed through the use of flashloans such as Collateral Swap, Debt Swap, Leverage, and Deleverage.

Team:
Hsuan-Ting - CEO
Josh Blazar - BD & Community

Socials:
Website: https://furucombo.app/
Docs: docs.furucombo.app/
Youtube: youtube.com/@Furucombo
Twitter: https://twitter.com/furucombo
Discord: discord.furucombo.app/
Dune Dashboard: https://dune.com/Marcov/furucombo

Team Code Repos:

Prior Work Experience:
Furucombo has a multitude of experience in the space, including participating in many hackathons & events (in-person & online). We have also built many products, with the main one being Furucombo. Additionally we have worked on a centralized exchange before switching to DeFi, created a address tagger, and a payment system for DeFi protocols. If anyone is interested in these I can provide more information upon request.

Project Goals and Differentiating Factors:
We are aiming to provide utility on chain that is not yet available. From our easy to use interface, and utilizing code such as flashloans we can provide utility that is not yet being utilized. The benefits of integrating Furucombo are vast, but here are some points:

  • Ease of use for users as they can perform trades from one interface
  • Unlocks composability of the platform through chaining transactions
  • Position management tools with advanced functions to perform debt swaps, collateral swaps, leverage, and deleverage
  • Integration of Protocolink which will allow composability for developers

Development Roadmap and Project Sustainability:
The roadmap can be broken up into a few phases. The first phase will be providing basic functionality to ASTAR. Then we can add the Lending Dashboard integration, and finally add the Protocolink integration. The phases will be broken down as follows:

Phase 1

  1. All utility features (Multi-Send, Wrap/Unwrap, Send Token)
  2. Stargate (wormhole) bridge (Token Bridge)
  3. Arthswap (Swap Token, Add Liquidity, Remove Liquidity, Stake Token & Unstake Token [If the contract supports chain input])
  4. SiO2 Finance (Borrow, Repay, Withdraw, Deposit, Flashloan)

Phase 2

  1. Lending Dashboard integration for SiO2 Finance with advanced position management features such as: Collateral Swap, Debt Swap, Leverage, and Deleverage

Phase 3

  1. Include Protocolink API/SDK to allow builders to utilize protocols on ASTAR through our API and create products or protocols easier and without coding knowledge.

Milestone 1:

  • Launching all contracts on ASTAR, front end integrated and ready to use (3-4 weeks)

Milestone 2:

  • Launching Lending Dashboard integration with advanced features (1-2 weeks)

Milestone 3:

  • Providing Protocolink functionality (1-2 weeks)

Bootstrapping Request:
We are requesting at this time $12,000 USDC or in ASTAR tokens for the aforementioned integration, but we are flexible to adjust or discuss further with the community on this amount.

Ecosystem Engagement and Alignment:
We are happy to provide weekly updates to the community on the progress of the Milestones, and we can include volume and user count through a Dune Dashboard if requested.

Contact Info:
Email - Josh @dinngo.co
Discord - blazar0582

How we heard about the Unstoppable Grants Program:
I’ve been a long time supporter in ASTAR since the network launched. Recently, Furucombo has been focused on expanding to EVM chains that offer strong future value, and therefore I figured it would be a great idea to launch Furucombo on ASTAR as the network is mature enough now to benefit from the composability.

Information on Protocolink:
Protocolink is an infrastructure solution that enables developers to integrate various applications and functions easily, without dealing with smart contracts. This is done through the Protocolink API. This provides you the flexibility and freedom from the limitations of single protocols, and allows easy integration of multiple use cases to leverage the expanding possibilities of DeFi. Whether you are a seasoned DeFi developer, or just getting started, our SDK provides a suite of easy-to-use functions and tools that can help you build innovative and robust applications quickly and easily. The features of Protocolink are robust. Here are just a few of the potential use cases:

  1. Lending Kit - Build DApps for position management including: leverage, deleverage, collateral swap, and debt swap all on top of multiple lending protocols such as Aave, Compound, and more.

  2. Automation - Add functionality to EOA’s and smart wallets with the ability to configure automation through approvals.

  3. Zaps - Streamline the user experience by combining multiple transactions at once using any input token.

  4. Multi-Action Bundling - Send multiple assets in a single transaction for airdrops or DAO payments, or swap one asset into many with the click of a button.

  5. Governance LP Kit - Build a SDK that bundles transactions to manage governance token LPs with 1-click for deeper liquidity

  6. Bots - Create your own bot utilizing zero-fee flash loans for liquidation on lending protocols, or arbitrage.

Conclusion:
Thank you for taking the time to review and read our proposal.

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Hello @Blazar

It’s nice to see that you’re interested in Astar Network.

To avoid any misunderstanding, in the Unstoppable Community Grants, the project receives rewards from dAppStaking and Astar bootstraps the number of ASTR staked on the dApp to boost the rewards.

You can find more information about the DappStaking here and about Unstoppable Community Grants here.

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Firstly, thank you for the proposal and your interest in joining the Astar ecosystem. I have few questions for the team:

  1. Are you planning to deploy your products on the Astar EVM parachain, the Astar zkEVM, or both?

  2. Can you provide more information on security measures for your smart contracts? Have external audits been conducted to ensure security?

  3. As Guigou mentioned, the Unstoppable Community Grants aim to provide quick access to dApp staking rather than a rapid access to $12,000 in funds. Does the project have the capability to proceed with deployment even without grants?

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Hey thank you for your proposal. Waiting for your response on higher posted questions! :slight_smile:

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Hi welcome to Astar, I have some questions:

  1. Will the implemented code be a fork of Aaave? or any other decentralized lending platform? or do they have their own contracts?

  2. What differentiates them from the other DeFi platforms for lending?

Thank you.

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It’s nice to see the application of Furucombo to the UGP system :smile:
I consider your platform unique in the DeFi world and for this reason I am much more inclined to support the proposal.
I don’t have many questions as all the information is described in the proposal itself but I’m curious to read the comments and questions from other community members

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Wow, thanks everyone for the questions and comments!

I’ll respond to everyone in order of post.

@GuiGou, thanks for the clarification. So just to confirm, the only available grants program is the UGP currently? And in regards to the dApp staking, so if for example 2M ASTAR is staked on our contract, rewards would be streamed to us at ~10% annually for the term of the staked tokens? How long does the foundation stake the rewards for?

@Disruptor1 to answer your questions, first off we will look to deploy on the Astar EVM parachain, because of the way Furucombo needs a mature ecosystem to really thrive. For example we require a DEX, bridge, and would love to see a Lending protocol on chain before we can really start taking advantage of the composability that Furucombo brings. Once Astar zkEVM has evolved to include these kinds of protocols, we can definitely also start development on that chain as well. In terms of security measures, we take security as the most critical component, and have done many audits to ensure that our product is as safe to use as possible. You can find a link to our audits here: https://docs.furucombo.app/audit. Additionally, we have an on-going bug bounty program with ImmuneFi as well to deter hackers from stealing funds, but to work with us in the event of an exploit. And thirdly, we are positioned to proceed without a development grant, although upfront funds are nice, we understand the reasoning behind this grants program and for us a long-term relationship with the foundation and the community is the most important to our growth.

Vangardem appreciate the questions. Just to clarify, Furucombo is basically a proxy/handler system that acts as a middle man to process transactions on behalf of the user. So our system on Astar will use existing protocols, so SiO2 for lending, and Arthswap for DEX. Therefore we will not launch our own lending protocol but utilize whats on-chain.

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Thanks for the answers. Questions clarified.

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My question already answered on Discord!
Feel free to post your progress here🙂

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So just to confirm, the only available grants program is the UGP currently? And in regards to the dApp staking, so if for example 2M ASTAR is staked on our contract, rewards would be streamed to us at ~10% annually for the term of the staked tokens? How long does the foundation stake the rewards for?

As far as I know, UGP is the only current program. ~10% is the APR received by stackers. For developers, the rewards are around 4%. The dApp Staking V3 is coming and these rates may change. The program is for a renewable period of 3 months.

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If I understood well, Furucombo will be more like DefiSaver than Instadapp or StakeDAO, right? (I like all of these dApps :slight_smile:

Do you plan to have a governance system to the user can add integration with a new dApp?
Do you plan to implement a version working wasm contracts or cross-chain dApps?

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Hey @GuiGou, exactly, very much like DeFiSaver, but visualized by cubes on create mode so that users can chain together their own transactions. On the other side, with the Lending Dashboard, its very much 1-click position management so that part is the same.

In terms of adding additional protocols, we are very much open to this concept. Additionally, with Protocolink, the work flow for adding new protocols to Furucombo also becomes much easier and more streamlined (Protocols can modify the repos directly as opposed to the current proxy/handler system which requires Furucombo to do all the work internally).

For WASM contracts, we would need to do some analysis internally to see how this looks. Our devs have no looked into this system as of yet, but the integration might be more difficult therefore more cost/overhead on our end. As for cross-chain, we are definitely exploring this. The Stargate cube would be the most composable cross-chain piece at the moment, but we will look to add more features as they become available. One use case might be to deposit collateral on one chain, and borrow on another without slippage.

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Hello! Just checking in to see if theres any other questions, or what the next steps are in the process. Thank you, have a great day!

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As mentioned on X , I will be super glad to see Furucombo deploying on Astar zkEVM.
I will transalate and write an article in italian so also some italian users may come here and ask for more in-depth explanations :pinched_fingers: :saluting_face:

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We like applications with an easy interface because we care about bringing web3 to the millions on web2. In addition, the Liner is lagging behind in the DeFi area and this needs to increase(I’m sure it will increase with zkEVM)

Can you tell me more about this part?
"‘Previous work experience:
Furucombo has a lot of experience in the field, including participating in many hackathons and events (in person and online). In addition, we have produced many products, the main product of which is Furucombo. Oct paying In addition, we worked on a centralized exchange before switching to DeFi, creating an address tagger and a payment system for the DeFi protocols. If anyone is interested in these, I can provide more information upon request.’‘’’

could you elaborate on your expenses a little more? Such as employee expenses, service fees, etc. etc.

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Hello @Blazar,

As GuiGou explained, the UCG program is a means of initiating a dApp Staking project by staking Community Treasury funds on the dApp project. Therefore, it is not possible to request an upfront payment under this program.

If you are looking for further incentives, please refer to the Astar Onboarding Guide.

With that in mind, and if you’re still interested in the program, I can open a poll to start the voting process.

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I emphasize what G says, it is important to understand that most of the applications that have subscribed to our dApp staking program have clearly had to wait for the dApp to work and tokens to be staked in the application, it doesn’t seem fair to provide tokens upfront.

However I am reviewing the documentation and social media and they look solid, I would like to see them within our program.

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@Gaius_sama Understood thanks for clarifying the details! We would very much like to proceed with the program, I was just unsure of the exact details.

Also we would like to slightly modify the phases and plan because of the migration of projects to the zkevm chain. We believe that it might not be in our best interests to launch on the pos chain as there will be a focus to migrate to the new one. We propose at this time to only launch some functionalities such as multisend (to allow DAO payments, and airdrops for example), and some utility features like bridging, wrap/unwrap, etc. Once the zkevm chain is more mature, we can continue to add these features. So in summary in phase 1 we will only work on these utility features until the zkevm is more mature.

At that being said, we would definitely like to proceed with the voting, and after it passes we can work on adding these features and the ASTAR networks (pos & zkevm) to the Furucombo page to add these utility functions.

Thanks!

Edit: Also to respond to @MrKarahanli-Emre, we have a team of about 10 devs, with a full time office space, so the developer cost is quite high to continue to ship new products and be innovative in the space. We of course always appreciate these kinds of incentives so we can continue production.

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Sounds good Blazar, let’s do it and make Astar great together!

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Hi @Blazar,

That sounds like a good plan. Please update your proposal with the new plan and I’ll open the vote.

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