Overview

Please note: Before receiving the rewards, winners must complete Synaps KYC/KYB.

The Injective Foundation (IF) seeks project proposals to integrate meme coin and interval trading. The goal is to develop an accessible, engaging, and secure application that promotes decentralized finance principles.

Key Objectives

1. Simplify Trading Experiences: Create an intuitive and user-friendly application that enables users to trade meme coins and other digital assets with ease.
2. Boost User Engagement: Implement a gamified rewards system that incentivizes trading activity and community participation.
3. Ensure Market Integrity: Develop a robust risk management system to protect liquidity providers and maintain fairness across trades.
4. Comply with all applicable laws.

Requirements

1 - Application Development

• Develop a non-custodial, smart contract-based application that allows users to place interval trades on multiple time frames (e.g., 1 minute, 3 minutes, 5 minutes).
• The application should support trading on the direction of price movements, providing a straightforward yet versatile trading experience.

2 - User Engagement and Rewards

• Implement a points-based system that rewards users based on their trading volume and referrals.
• The system should include a gamification element, where accumulated points can be redeemed in a perks store within the platform.

3 - Token Support and Flexibility

• The application must support multiple tokens, particularly meme coins, with the ability to add or remove tokens dynamically to ensure content remains fresh and relevant.
• Offer asset swapping functionality within the application to provide users with seamless asset management.

4 - Liquidity and Rewards

• Integrate a liquidity vault where users can contribute liquidity to the application and earn rewards.
• The vault should be designed to rebalance automatically to maximize rewards and minimize risk.

5 - Risk Management

• Develop a risk management engine that ensures fairness in trading outcomes and protects liquidity providers from significant losses.
• The engine should be capable of handling both PvP (Player vs. Player) and PvE (Player vs. Environment) trading scenarios.

6 - Oracle Integration

• Utilize or develop an in-house oracle system to ensure accurate and reliable price feeds for a wide range of assets, crucial for executing trades and managing risks.

7 - User Interface (UI)

• Create a front-end that clearly displays available “Vaults” or “Strategies” with detailed information on potential returns, risks, and the user’s current engagement.
• The UI should dynamically adjust and display performance based on user actions, such as the amount of liquidity provided or trading volume.

8 - Security Considerations

• Evaluate the security of the platform, particularly in terms of non-custodial options. Consider the use of authz permissions, smart contracts, or a hybrid approach to balance security and usability.

• The proposal should include details on how the application will manage potential risks, such as liquidation avoidance and protecting user funds.

9 - Community and Support

• Engage with the community to gather feedback and improve the platform over time. This may include regular updates, user surveys, and the incorporation of community-driven features.

10 -  Compliance with All Applicable Laws. The application must comply with all laws applicable to it in the jurisdictions in which it operates.

11 -  Satisfactory completion of KYB/AML checks administered through Synaps.io, prior to any distribution of IF funds.

Evaluation Criteria:

• Innovation: How your approach brings something new to the DeFi and meme coin trading space.
• Feasibility: The practicality of your proposed implementation, including technical soundness and resource requirements.
• Security: The robustness of your security measures, particularly in terms of protecting user funds and ensuring fair trading practices.
• Community Impact: The potential of your platform to attract and retain a vibrant user base.