{"signature": "0x93cc50f7cc4d445f9eec3844d428d3a590d12b1f6fba0b8ae78529cc19d9dfc2506fe88c2ede11a3e380b69d6a3096a2ccd241ee265f1da98810c5f655b9b8611b", "application": {"round": "0x0d1bab6d06e5059f4abc6034809aa2fb74aa13a6", "answers": [{"type": "email", "answer": "stablis@proton.me", "hidden": true, "question": "Email Address", "questionId": 0}, {"type": "paragraph", "answer": "Stablis Protocol allows users to borrow against their yield-bearing assets, such as artMETIS, through a non-custodial and capital-efficient mechanism. Loans are issued in USDs, a stablecoin pegged to the US dollar, ensuring stability and minimizing risk while enabling users to unlock the value of their assets.\n", "hidden": false, "question": "Provide a brief description of your project", "questionId": 1}, {"type": "checkbox", "answer": ["LSTfi"], "hidden": true, "question": "Which of the following Metis ecosystem themes does your project focus on? (Select all that apply)", "questionId": 2}, {"type": "paragraph", "answer": "Stablis employs a multi-faceted approach to community engagement and self-marketing. We actively involve our community through social media platforms like Twitter, Discord, and Telegram, hosting AMAs, and running campaigns to foster engagement. Our Zealy campaign, for example, rewards active participants with NFTs, creating incentives for deeper involvement. We also leverage strategic partnerships and collaborations within the Metis ecosystem to expand our reach, tapping into existing communities while building a loyal and engaged user base.\n", "hidden": true, "question": "Describe your project's approach to community engagement and self-marketing", "questionId": 3}, {"type": "paragraph", "answer": "By offering innovative, user-friendly features that make borrowing against yield-bearing assets seamless. Our low collateralization ratios, coupled with STS staking rewards (100% of the protocol revenue go to stakers), attract users seeking capital efficiency. Our governance model in combination with staking encourages community participation, giving users a voice in the protocol’s development and a true sense of protocol ownership. By continuously integrating more collateral types and offering incentives through liquidity pools and stability mechanisms, we aim to create a supportive and thriving environment within the Metis ecosystem.\n", "hidden": true, "question": "How do you plan to drive user adoption and a supportive environment within the Metis ecosystem?", "questionId": 4}, {"type": "paragraph", "answer": "- Q3 2024: Completed smart contract audits with Omniscia and finalized integration with Metis.\n- Q4 2024: Launch the protocol with initial liquidity pools.\n- Q1 2025: Expand collateral options and enhance the user interface.\n- >2025: Implement advanced governance features and cross-chain capabilities.\n", "hidden": true, "question": "Provide a clear roadmap of your project, including key milestones and deliverables.  You may provide a link to an accompanying document or sheet if needed.", "questionId": 5}, {"type": "paragraph", "answer": "Our team comprises seasoned professionals with extensive experience in the DeFi space. The project lead, Pieter, is a serial crypto entrepreneur with successful projects like Arkadiko.finance and a few other projects in the pipeline. Our developers, Jens and Bert, bring over 10 years of experience in solutions architecture and smart contract development, ensuring a secure and scalable platform. The marketing and business development team, led by Aaron and Lout, has a proven track record in building and growing blockchain projects..", "hidden": true, "question": "How does your team's expertise contribute to the successful execution of the project? Please provide relevant background information", "questionId": 6}, {"type": "paragraph", "answer": "We plan to use these funds strategically in a 2-week period to build momentum leading up to our launch:\nFirst $5k: Activating key opinion leaders (KOLs) to boost awareness and engagement.\n\nNext $3k: Running Zealy campaigns to increase community participation.\nNext $2k: Partnering with other projects for giveaways to grow Stablis’ and our partners’ follower base.\n\nTo meet our full funding target, we already submitted a grant request, following the grant approval we will initiate a strategic/VC funding round, after which we proceed with a public sale.\n", "hidden": true, "question": "Provide a breakdown of how you plan to utilize the funds in increments (e.g., first $2k, next $2k, etc.) to maximize your project's impact within the Metis ecosystem. Also, explain how you would adjust your plans if you still need to meet your full funding target and raise meaningful funds.", "questionId": 7}, {"type": "paragraph", "answer": "Stablis is a new fully developed and audited project ready to launch in Q4 2024. Although new, we have already engaged deeply with the Metis community through discussions and feedback loops. We’re committed to making significant contributions to the Metis ecosystem by increasing liquidity, driving user adoption, and building a supportive DeFi environment.", "hidden": true, "question": "Is this a new or ongoing project? If ongoing, briefly describe your past contributions to the Metis ecosystem, including any CVP approval, supplemental support received, and specific results achieved.", "questionId": 8}, {"type": "paragraph", "answer": "Stablis is built on the collective expertise of a team with a proven track record in the DeFi space. Our commitment to security, user engagement, and long-term sustainability is evident in our strategic planning and partnerships. Our approach is not only to launch a successful protocol but to contribute meaningfully to the Metis ecosystem by driving innovation, adoption, and growth. Our previous work with projects like Arkadiko.finance (https://defillama.com/protocol/arkadiko#information) on the Stacks network showcases our ability to deliver successful and impactful solutions.\n", "hidden": true, "question": "Is there anything else you'd like to share about your project, previous work, or other affiliations that may help determine project eligibility?", "questionId": 9}, {"type": "dropdown", "answer": " Yes, I have read the entire Code of Conduct and additional points and agree to follow these standards.", "hidden": true, "question": "Do you confirm that you have read the entire Code of Conduct (https://support.gitcoin.co/gitcoin-knowledge-base/about-gitcoin/code-of-conduct) including the additional emphasis on collaboration and prohibition of quid pro quo, and agree to abide by these standards?", "questionId": 10}, {"type": "dropdown", "answer": " Yes, I commit to upholding these principles.", "hidden": true, "question": "Do you commit to upholding these collaboration principles and prohibiting quid pro quo (https://support.gitcoin.co/gitcoin-knowledge-base/gitcoin-grants/general-questions/what-is-our-quid-pro-quo-policy) practices?", "questionId": 11}], "project": {"id": "0x034aa9e68eaef2fa49e100b0c20cf5b32c31e74b5a05ab5d6b4a3bfb7b887336", "title": "Stablis Protocol", "logoImg": "bafkreicm3v4rxfo5ibubfo4mlahnsrii76skdss2smjf6jhbr4s7ytkpku", "metaPtr": {"pointer": "bafkreie2of2vodoy5wrckf4cq2zikf5t4fdam5obpab32llur7v3irnqzq", "protocol": "undefined"}, "website": "https://stablis.finance", "bannerImg": "bafkreihp2hkcvv3cxshxtyxrhhntzg2y5necixroaobx7zlkk4t2wswloi", "createdAt": 1725294662583, "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..bnbq9TuXfbukYpiRYOUZKWyuKpBJBph6OBp2xcsV373H6coCjLYrM_vu-0C-N7h23PTdf8GDhm8ra_LMN4FrCw", "type": "Ed25519Signature2018", "created": "2024-09-02T16:29:24.681Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-09-02T16:29:24.681Z", "expirationDate": "2024-12-01T16:29:24.681Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xE38B49C3F142C0D1AAF8E11e218D56a2AD067425", "hash": "v0.0.0:AITk/z8Zx0kGPNqycmnT0iYwA3/vN2OFUep2FDBWplA=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#StablisProtocol"}}}, "description": "INTRODUCTION\n\nStablis Protocol allows users to borrow against their yield-bearing assets, such as artMETIS, through a non-custodial and capital-efficient mechanism. Loans are issued in USDs, a stablecoin pegged to the US dollar, ensuring stability and minimizing risk while enabling users to unlock the value of their assets.\n\nMISSION AND KEY BENEFITS\n\nOur mission is to facilitate capital-efficient, user-friendly borrowing against yield-bearing assets like stMETIS. We offer significant advantages, including:\n\n→ Low interest rates on loans\n\n→ Low minimum collateral ratios starting at 125%\n\n→ Liquidity re-utilization across DeFi protocols on Metis\n\n→ STS stakers will earn 100% of protocol revenue\n\nThis advantages significantly enhance capital efficiency and also fosters a robust, secure borrowing environment within the Metis ecosystem.\n\nINNOVATION AND COMMUNITY VALUE\n\nStablis extends the Liquity codebase to enable multiple collateral types and ensure a broad spectrum of Metis protocols can integrate seamlessly. Our dual-token system, featuring $USDs for stablecoin loans and $STS for protocol governance and revenue sharing, incentivizes both borrowers and stability providers. Our ecosystem fosters a participatory, secure environment for users, highlighted by our commitment to audits and non-custodial principles.\n\nCORE FEATURES\n\n→ Chests: A Chest is where you initiate and manage your loan. Each Chest is associated with a Metis address, and each address can only have one Chest per collateral type. If you are familiar with Vaults or CDPs on other platforms, Chests share a similar conceptual framework.\n\nChests maintain two balances: one consists of assets serving as collateral, and the other represents a debt denominated in USDs. You can modify the amounts of each by adding collateral or repaying debt. As you make adjustments to these balances, the collateral ratio of your Chest changes accordingly. You have the flexibility to close your Chest at any time by fully repaying your debt.\n\n→ Stability pool: The Stability Pool acts as the primary safeguard in upholding system solvency. Its role is to act as the liquidity source for repaying debt from liquidated Chests, ensuring a consistent backing for the total USDs supply.\n\nWhen a Chest gets liquidated, an amount of USDs equivalent to the remaining debt is burned from the Stability Pool, settling the debt. In return, the entire collateral from the liquidated Chest is transferred to the Stability Pool.\n\n→ Stability Providers, who contribute USDs to the pool, fund the Stability Pool. Over time, Stability Providers experience a pro-rata reduction in their USDs deposits but gain a pro-rata share of the liquidated collateral. Given that Chests are likely to be liquidated just below the minimum collateral ratio, it is anticipated that Stability Providers will receive a greater dollar-value of collateral relative to the debt they settle. Any collateral received by Stability Providers is free to be traded back to USDs or other assets.\n\n→ Redemption mechanism: We implement a redemption mechanism to support USDs’ $1 soft peg. As soon as USDs goes under peg, there is an incentive for arbitrage traders to buy USDs on the open market and redeem against collateral of the Chest(s) with the lowest collateral ratio. This arbitrage creates demand for USDs and brings it back to peg.\n\nIt’s the process of exchanging USDs for any collateral type asset at face value, where 1 USDs is always considered exactly worth $1. In this process, for x USDs, users receive x dollars worth of chest collateral in return. Users have the flexibility to redeem their USDs at any time without limitations.\n\n→ STS Staking: From the moment users stake their STS in the staking vault, they will start earning real yield from the borrowing and redemption fees corresponding to their share of the total staked STS tokens at the moment the fees are generated. Also 100% of the interest fees will go directly to the STS stakers. Stakers have the flexibility to withdraw their staked assets at any time as there isn’t a lock-up period in place.\n\n→ Governance: STS token holders are empowered with the right to cast their votes on important Stablis governance proposals. The main focus of these proposals will be to fine-tune borrowing fees and interest rates, ensuring that Stablis remains aligned with the ever-evolving market standards and rates. This dynamic governance structure is designed to keep our protocol competitive and responsive to the needs of our community.\n\nWHAT STABLIS MEANS FOR METIS\n\nBy leveraging the Metis blockchain we introduce a groundbreaking approach to unlocking more capital. It enhances the Metis ecosystem by enabling low interest loans against yield-generating assets, thus promoting capital efficiency and financial inclusivity while significantly expanding Metis’ total value locked (TVL). \n\nStablis’ integration into Metis not only diversifies the blockchain’s DeFi offerings but also attracts a broader user base seeking innovative, low-risk borrowing solutions. This symbiotic relationship will bring growth and stability within the Metis ecosystem, contributing to its overall value proposition and appeal to both developers and users.\n\nTOKENOMICS*\n\nMax supply: 100M\n\nCommunity Incentives: 45.7M\nAirdrop: 0.3M\nPublic Sale: 20M\nTeam: 16M\nAdvisors: 4M\nTreasury: 10M\nInitial liquidity: 4M (Locked)\n*subject to change\n\nROADMAP\nOur protocol is launch ready!\n\nQ4 2024: Launch protocol\nQ1 2025: Expand collateral options and enhance user interface\n>2025: Expand collateral options, Implement advanced governance features and cross-chain capabilities\n\n\nCONCLUSION\n\nStablis represents the forefront of LST based borrowing and stablecoin solutions on Metis, with a focus on security, efficiency, and community empowerment. As such, we believe Stablis is an exemplary candidate, promising to contribute significantly to the ecosystem’s growth and stability.\n\n", "lastUpdated": 0, "projectTwitter": "StablisProtocol"}, "recipient": "0xE38B49C3F142C0D1AAF8E11e218D56a2AD067425"}}