Hey @dax , thank you for your message. Below are the answers to your questions, please let me know if you have any further questions or if the revocations committee would like to have a meeting to discuss any items in further detail.
- The decision around opting for the platform category was based upon our desire to opensource all code developed for the Decentraland dex product. As stated in our proposal, “all code will be open-sourced to the desired specifications of the Decentraland DAO in order to maintain security, decentralization, and transparency for the community.” We hope to connect with DAO admins to discuss the best way to do this, and allow collaboration and transparency for the product.
- All code will be hosted in two public repositories. This will include the dex, including the frontend code, smart contracts (with deployment scripts), and SDK. These pieces will allow anyone to deploy their own copy of the dex, host an offline interface, or integrate with the included SDK. All code will be licensed under the MIT free software license. Alongside the repository, there will be a gitbook describing each front-end flow. This will be useful for new users to understand how to perform specific actions for example swapping or adding liquidity. Short explanations of what these actions do will also be provided. All smart contracts will be documented in Natspec and included documentation on each method inside of all contracts. This will include expected inputs and their types, expected outputs and types, a short description of the method, and potential use cases. Each method inside of the SDK will be documented inside of a public gitbook explaining what the function does expected input and output as well as a description of use cases these use cases will also be pointed towards the first party dex where users of the SDK can see how the sdk is implemented, for example how to fetch quotes.
- The SDK will be used solely for use with the proposed dex this will separate NPM package allowing developers and creators to integrate with the on-chain first-party dex. This package will have native integration with eth-connect to enable the best integration with Decentraland scenes. The sdk will be open source for easy maintainability, Asystem of access control, version controls, and alongside standard software composition analysis tools will lay the foundation for a continuously secure SDK. A platform audit will be conducted by CertiK prior to launch.
- In our role drafting this proposal, we were well aware of the requirements for liquidity in order for the DEX to be able to function properly. As we communicated many times in discord, it would have been disingenuous for us to promise an exact amount of liquidity that would be able to be raised by the DEX. Our objective with this DEX was to minimize the amount of cost and lift required for the community, so we did not make a request of the DAO itself to fund the liquidity for the DEX, we instead opted to approach this through a strategic marketing effort as we outlined in several discord messages.
As I mentioned on May 31st “As the default swap across the DCL ecosystem we expect to receive a significant amount of organic traction around the launch, we will also do a marketing push both internally in our network of investors, vcs, and LPs, and publicly via Twitter, our PR team, and other avenues. We will also encourage DCL community members and $MANA holders to consider providing liquidity on the DEX. We have also explored aggregation as a fallback plan in the event that liquidity raised is insufficient, however we feel confident in the ability to attract liquidity. Decentraland also has lots of opportunity for onboarding of first-time liquidity providers through gamification in the DCL ecosystem through creative integration of the SDK integrated with native blockchain provider libraries.” On top of this point, on May 22,I personally committed to providing $64,000 in liquidity on the DEX as a sign of good faith prior even to our grant being approved as a sign of good faith. “I am happy to commit to personally putting $64,000 in liquidity into the DEX as a show of good faith if folks would like me to.”
Liquidity will have to come from many sources and will be an ongoing objective. We understand the undertaking that is required to make this a success and we hope to receive support from DCl as we work to make this product a success. We appreciate your consideration and hope to have your support.