BetSwirl's Synthetix V3 exotic markets

Username

Romuald

Grant Description

BetSwirl's Synthetix V3 exotic markets would allows users to become bankroll LP.

Overview

Context: On our web3 casino, house's bankrolls are mainly POL. We also have a B2B offering for which we create frontends (white-label) for protocols, and they protocol deposits their POL on BetSwirl's trust-less bankrolls.

Problems:

• Our POL is limited. High stakes gamblers won't join if the max payout isn't enough for them.
• Liquidity bankrolling isn't permission-less.
• The capital inside our bankrolls is sleeping.

Goal proposal:

• Allow any users to become the house by depositing their liquidity on bankrolls.
• Allow any protocol to farm its POL on top of adding an entertaining utility to their native token.

Changes to apply on BetSwirl: Adapt the "Bankroll" contract.

Value: That'd create another source of yield on DeFi.

Value to Synthetix

• 40% to 60% of BetSwirl's games of chance fees are allocated to liquidity providers (BetSwirl and B2B partners), that would be the Supply Side Revenue redistributed to Synthetix' LPs.
• Synthetix users would permission-lessly open a bankroll on BetSwirl to enjoy the games of chance with their SNX.
• Bankrolls value will be considered as Synthetix' TVL.

Project Implementation Plan

Project Phases: a. Phase 1: Functional analysis Timeline: 1st of August until mid August. b. Phase 2: TDD Timeline: Mid August to mid September. c. Phase 3: Code reviews Timeline: Mid September to mid October. d. Phase 4: Audit Timeline: Mid October to mid November.

Deliverables: Phase 1:

• Deliverable 1: functional gap assessment

Phase 2:

• Deliverable 1: Unit tests
• Deliverable 2: Bankroll contract changes

Phase 3:

• Deliverable 1: Code review
• Deliverable 2: Code changes

Phase 4:

• Deliverable 1: Audit
• Deliverable 2: Fixes

Additional Information

We have two senior devs: Solidity and Full Stack.

Funding Request

a. Phase 1: Functional analysis Budget: 10k$ for 10 days of work. b. Phase 2: TDD Budget: 30k$ for 30 days of work. c. Phase 3: Code reviews Budget: 10k$ as bug bounty. d. Phase 4: Audit Budget: 20k$ to 30k$.