Stellar Community Fund

By DeFindex: DeFi Made Easy

DeFindex: Mainnet, Metrics & Keepers

SCF #32

$50.0K

Build

Awarded

We’re live on Testnet and now we’ll improve contracts, go live on Mainnet, and provide tools to secure user funds with Keepers

Products & Services

DeFindex helps wallet providers manage DeFi investment vaults by addressing key challenges such as fund security, risk mitigation, and yield optimization. Having launched on Testnet, we now aim to improve our contracts, transition to Mainnet, and leverage Keepers to rescue funds if a strategy becomes unhealthy. Wallet providers will also be able to earn fees from the yield generated on deposited funds.

Our strategies utilize existing DeFi protocols on Soroban, such as auto-compounding with Blend, where USDC is supplied, BLND rewards are swapped for USDC, and reinvested. To enhance these strategies, we will refine our contracts, collaborate with an audit company (funded by the Audit Bank), and prepare for Mainnet deployment.

To secure user funds, we will develop Keepers using Mercury’s infrastructure, integrating Zephyr Programs for metrics and automation tools for execution. These tools will enable wallet providers to automate fund rescues for risky strategies and gather metrics for informed rebalancing.

Additionally, we plan to enhance the user experience for creating vaults, ensuring a seamless and intuitive design that simplifies onboarding and platform interaction.

Soroban

Maybe in the future, but not in this submission

Requested Budget

$50.0K

Success Criteria

Short term: On March 2025 we expect to have at least 2 onboarded wallets with more than 100k TVL in total

Medium term: On December 2025 we expect to have onboarded at least 5 wallets with at least 1M in TVL. At least 500 retail crypto native users

Go-To-Market Plan

Deploy on Mainnet with 2 safe and audited strategies.
Onboard 2 wallets (Beans App and Meru) as early adopters.
Gather feedback from wallets and add new features.
Leverage success metrics to build trust and onboard more wallets.
Wallet onboarding through presence in Web3 conferences and B2B marketing.
Develop advanced strategies for sophisticated users.
Expand to retail crypto-native users on Soroban with complex strategy vaults.

Traction Evidence

We have developed our first version of DeFindex in almost 500 commits in a very active repo: https://github.com/paltalabs/defindex and we have already deployed a Factory Contract, a Vault Contract and 2 Strategies contracts. You can find their addresses in https://github.com/paltalabs/defindex/blob/main/public/testnet.contracts.json

Our protocol has been live on Testnet since November 18th, and we have run 5 meetings with different stakeholders like Beans App, Blend Capital, Soroswap, Orbit CDP, and people from SDF in order to gather insights and get feedback. We also presented DeFindex on Meridian, check the video here: https://youtu.be/FMZr-JQcpG4?t=1104

You can see more stats on views and interaction of our dApp and contracts in this document: https://docs.google.com/document/d/1iQz_UKaygBBvQxx9PISCn_JMko_oJ7YMYaDU7gZuJn8/edit?usp=sharing

You can see all our deliverables from our previous grant in our SCF Tracker file: https://github.com/paltalabs/defindex/blob/main/scf-tracker.md

Tranche 1 (Deliverable Roadmap) - MVP

We already finished our MVP while developing DeFindex for the Consensus Hackathon 2024. You can check our progress in https://github.com/paltalabs/defindex

Tranche 2 (Deliverable Roadmap) - Testnet

We already deployed DeFindex on Testnet.

Check more info and how to interact with on https://docs.defindex.io/tutorials/01-test-defindex-testnet

Check the deployed addresses in https://github.com/paltalabs/defindex/blob/main/public/testnet.contracts.json

Tranche 3 (Deliverable Roadmap) - Mainnet

[Deliverable 1] Contracts: Bring DeFindex from Testnet beta to Mainnet final version:
1. Run rounds with testers and get their feedback to improve our Vault Contract and Strategy Crate.
2. Move from Total Management Funds fee to Performance Fee, meaning fee is charged on the profits made by the Vault.
3. Improve the 2 strategies we have as MVP in our Testnet Deployment to be ready for Mainnet: 1) Blend USDC Rewards Autocompound, 2) Hodl Stragegy
4. Work closely with an audit company (funded by the AuditBank) to secure our contracts.
5. How to measure completion: Contracts will be audited and published in our repo
6. Estimated date of completion: Mid January 2024
7. Budget: 20k
[Deliverable 2] Metrics
1. Brief description: Write Zephyr Programs to get metrics to estimate the profitability and health state of Blend Strategies. Show these metrics on our Dashboard. Provide metrics to Keepers and Bots
2. How to measure completion: Zephyr Contracts will be published on our repo, Dashboard will be available on our frontend
3. Estimated date of completion: Mid February 2024
4. Budget: 10k
[Deliverable 3] Rescue funds Keeper:
1. Brief description: Creation of predetermined Keepers that monitor the health of strategies and can trigger a rescue fund transaction on Soroban to secure funds of end users.
2. How to measure completion: Managers will be able to fork our project, set up the keeper and run a keeper easily
3. Estimated date of completion: early March
4. Budget: 15k
[Deliverable 3] UX improvement:
1. Brief description: Hire agency to improve design. Implement design
2. How to measure completion: Dashboard looks good, with all the needed functionality
3. Estimated date of completion: end of March
4. Budget: 5k

Team

Hello! We are PaltaLabs, a team of founders and Blockchain developers, specialized on Stellar and Soroban. We are 100% focused on building DeFi on Stellar!
We are Engineers, Economists, Fullstack devs and communicators making DeFi Easier!