{"signature": "0xa87a63e176c1d961eb573b755b4f669b53506dac11691f1793ea5e4c98ab628a577a6e3c7679683e9ed359cafee0e047e6ccb88f822d1d4a76d14e93a70a0c9a1b", "application": {"round": "0xda3b55a9bcf58bb2d9f673836beab3ae47ca9184", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "y5Ps3/Tna+aVJv5OxpekpQqqTrgcac57PMvUOa7PiOOUUiU2XF+W/lA8XJ75hOQ1", "encryptedSymmetricKey": "48596531f7a39e144b7d509765e5a0384c42d32f70cc8881cc45ddd9a39177f58804bb0bc81e87647848f1234bfd790917765e1d07b41d1c9c0258c6c08c2d3a671bfa5ee6d1200748f5a95ecb6e499c77296dc35d5ef5f46b3aa6a36a40ecb7b58320a29e6a61e06e74350c1b52d9b9b03d3ccc622363e32db8b101d8f465350000000000000020aa898a1cb63cc6c187c674b199af926c676e2f61cdffebfdb6568f907f5306320ef6d2644ba595f9305999c970ca378a"}}, {"type": "short-answer", "hidden": true, "question": "Telegram Handle We Can Use To Contact You(you can answer N/A)", "questionId": 1, "encryptedAnswer": {"ciphertext": "ZJnulVh5SczUeFO2rFMKmP4lKLSpIAolsPCvF7X/H8g=", "encryptedSymmetricKey": "6750129e8dfac72297ebcfa37704807463c5f1e8cd9de6dd2be5c8dd3bfa586873de00400d4a9513c798bcafd412f91910572610b10e2f3e2dca614cdf04aac1461d64608738007280ae020c44a3ed9396b731a7b7a53124229ba507f71e3d998f99a82373d8ccf130696cfe69b2bfbbf99879ac4030d5d49ead63abee57cb070000000000000020f61bce8ea669a752bd1a05f77a241e38f75cd30f4b109533081b00b304dd62576f37ba6187d114a886abdee2c08d5f93"}}, {"type": "link", "answer": "https://github.com/bonding-curves/conding/tree/main", "hidden": false, "question": "Project GitHub Repo (Not Team Page): ", "questionId": 2}, {"type": "number", "answer": "6", "hidden": false, "question": "Total Team Size", "questionId": 3}, {"type": "paragraph", "answer": "https://github.com/bonding-curves/conding/graphs/contributors\n\nTeam\n0x29567BdBcC92aCF37AC6B56B69180857bB69f7D1", "hidden": false, "question": "List the Github Handles and Wallet Addresses of Each Team Member (e.g. owocki - 0x123, kbw  - 0x456):", "questionId": 4}, {"type": "paragraph", "answer": "@ygg_anderson\n@jeffemmett\n@jessicazartler\n@curiousrabbit27\n@RowRowRoUrBoat", "hidden": true, "question": "Social profiles (Twitter, Farcaster, Lens, etc.) of other main team members publicly associated with the project (N/A for solo founders): ", "questionId": 5}, {"type": "link", "answer": "https://auspicious-cap-b5c.notion.site/Bonding-Curve-Research-Group-a0fe00e81d84435a8fddd547a7888063", "hidden": false, "question": "Link to your Public Group Chat (e.g. Discord or Telegram)", "questionId": 6}, {"type": "paragraph", "answer": "We are working with https://www.inverter.network/ on a bonding curve module and our collaboration also includes building out the open source modeling infrastructure for primary issuance and secondary market interactions for simulating various parameters & exploring endless research questions. We just kicked the initial 3-month project this week.", "hidden": false, "question": "If you've participated in past grant rounds, please share any new updates or milestones from the prior months (N/A if you haven’t participated previously). ", "questionId": 7}, {"type": "address", "hidden": true, "question": "If you participated in past grant rounds using a different project payout wallet address, please share it here:", "questionId": 8}, {"type": "paragraph", "answer": "https://auspicious-cap-b5c.notion.site/Bonding-Curve-Research-Group-a0fe00e81d84435a8fddd547a7888063\n\n15 Seminar Recordings\n2 Articles\n1 Python Package\n\n📚 Past Work & Achievements :\nThe BCRG was founded in March 2023 and has three operational workstreams including Education & Content, Research & Ideation and Bonding Curve Analysis & Modeling. Here is a list of some of the work produced:\n\n\nExploring Bonding Curves: Differentiating Primary and Secondary Automated Market Makers: https://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/1Pxl_fbIPifIQ4_y0xoJGZGEk70qfOM3Gi9nWycm-8k\nModeling & Simulating Bonding Curves: https://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/3gTCNW1LcsNd_O8zgfgERXnZhA_8wYyyHkZRe-oxIns\nKnowledge Library - a collection of resources discussing bonding curves and the mechanism design space for crypto economic system: https://www.notion.so/Knowledge-Library-ea2a517d82b142778e033a45bc115a80\nCase Studies (WIP) - case studies done on projects that have employed Primary Automatic Market Makers: https://www.notion.so/PAMM-Case-Studies-e994a43ab4dc4661aa355f868a20071e\nBonding Curve Classification Notebook (WIP) - a quick look at different kinds of curves and their equations: https://www.notion.so/Bonding-Curve-Classification-0e85d52249594c6aaaf7e3dcdcd958b1\nAugmented Bonding Curve Model Github Repo (WIP) - an opensource python model used to simulate the Augmented Bonding Curve from the TEC ecosystem\nBonding Curves Parameters Model: https://github.com/bonding-curves/conding/blob/main/conding/pamm/abc.py\nToken Engineering Commons Dune Dashboard & Python Translation: https://dune.com/rxx_/bondingcurves\nOpen Research/Study Session Call Library: https://www.youtube.com/playlist?list=PLl_NgvZc7atfookYgCUuvDLPzodhAyXJu", "hidden": false, "question": "Where should we look to see the impact of your project? Please provide links to public websites and/or the latest values for key metrics you track privately. This might be used in future impact reports", "questionId": 9}, {"type": "paragraph", "answer": "67k", "hidden": false, "question": "Total Prior Funding for the project in USD", "questionId": 10}, {"type": "checkbox", "answer": ["Grants"], "hidden": false, "question": "Which of the following funding sources do you have? Check all that apply", "questionId": 11}, {"type": "number", "answer": "13", "hidden": false, "question": "How old (in Months) is the project?  ", "questionId": 12}, {"type": "multiple-choice", "answer": "Somewhere in the Metaverse", "hidden": false, "question": "Location/Region where the project is based ", "questionId": 13}, {"type": "multiple-choice", "answer": "Yes", "hidden": true, "question": "Have you read and confirmed your grant abides by the Program General Eligibility Policy? ", "questionId": 14}, {"type": "short-answer", "answer": "No", "hidden": true, "question": "Are you applying for any other OSS rounds in GG20? (Reminder: you can only be accepted into one) ", "questionId": 15}, {"type": "paragraph", "answer": "Bonding curves are an emergent, Web3 native, economic primitive that redefine markets and liquidity. By determining price as proportional to supply, liquidity can be built into an economy, ending the era of market crunches, and enabling transparent and discoverable market prices for assets. The research, development and education in token economic primitives like bonding curves and cutting-edge research in the TE field has profound potential and implications for the ETH ecosystem.\n\nThis research offers improvements for understanding the design and ongoing operation of these new economic mechanisms that could offer innovation pathways, attract employing our libraries, models, simulations, and dashboards in the ETH ecosystem. The research and development also has huge impact through networking and deal flow for any blockchain ecosystem that would like to make use of these tool sets, open libraries, primitives, and research.", "hidden": false, "question": "How does your project significantly contribute to the Ethereum network’s infrastructure, addressing foundational needs and innovative solutions to current challenges?", "questionId": 16}, {"type": "paragraph", "answer": "Why People Need This\nOur project fulfills a critical need: simplified access to the transformative paradigms of bonding curves and token engineering. Though bonding curves enable programmatic liquidity and price discovery, their complexity deters adoption. By providing intuitive education and tooling, we empower more token projects to implement models that solve pressing issues like:\n\nAddresses Real-World Problems: It ties the solutions offered by the project to concrete problems within the target demographic. Liquidity gaps, misaligned incentives, and skill shortages are relatable pain points for DAOs and token projects.\nEvidence-Based: The response includes phrases like \"Numerous DAOs request help...\" and \"...pioneers, we repeatedly witness struggles...\" to bolster arguments with firsthand observations. This underscores the legitimacy of the problems being addressed.\nFocus on Impact: It emphasizes the potential positive effects of solving these problems for the target audience, such as the ability for DAOs to maintain stability and unlock innovative economic models.\n\nWhy this Project is Important\n\n\nFilling Critical Gaps: It frames the project as the solution to the core gaps impeding the progress of the target audience. This includes the lack of intuitive resources, tools, and guidance.\nCommunity-Driven: The emphasis on workshops, collaborations, and community underscores understanding that solutions need to be developed in tandem with the community that will ultimately use them.\nHolistic Approach: It presents a multi-pronged approach, recognizing that overcoming adoption barriers requires a combination of theoretical research, practical tools development, and educational content.\n\n By providing interactive learning, configurable tools, best practices, and a supportive community, it uniquely positions itself as a leader in cryptoeconomic research and education\n\nOpen-Source Ethos: BCRG's commitment to open-source tools, models, and educational resources lowers entry barriers. This transparency aligns with broader blockchain principles\n\nInteractive Learning: Interactive visualizations and sandbox environments invite users to engage directly with bonding curve concepts promoting deeper understanding and accessibility for diverse learners\n\nExplorable Explanations:  BCRG breaks down complex concepts into digestible, interactive segments. This iterative, hands-on approach makes it easier to grasp the fundamentals of bonding curves\n\nModular Simulations:  Simulations are built with customizable components, empowering users to tailor their exploration and answer specific questions about bonding curve mechanics and behavior\n\nReal-World Case Studies: BCRG's work is grounded in case studies and analysis of deployed bonding curves which provide tangible examples, highlighting the potential of bonding curves to solve challenges within DeFi and DAOs and beyond\n\nCommunity-Driven Approach: Fosters collaborative learning and knowledge sharing.\n\nOngoing Development: The group's research methodology is distinct in that it is structured as a research 'marathon' rather than a series of short-term 'sprints.' This allows for a deeper, more thoughtful exploration of topics oriented towards understanding and building more robust primitives and assemblages.\n\nAlternatives and Competitive Landscape:\nExplanatory platforms (e.g., Ncase, Mechanism Institute) offer excellent high-level breakdowns but may lack tools for direct experimentation. \n\nTraditional simulation software (e.g., Vensim, Stella) is powerful, but their general focus can make bonding curve-specific modeling complex. BCRG simplifies the process with a modular, tailored design.\n\nGeneral-Purpose Modeling (CadCAD, Think Complexity) BCRG provides modular components that cater to the specific needs of bonding curve modeling.", "hidden": false, "question": "How does your project promise to elevate the Ethereum ecosystem, particularly in enhancing privacy, interoperability, and/or user experience?", "questionId": 17}, {"type": "paragraph", "answer": "Our team members have been leaders in the  founding and development of the emerging field of Token Engineering, having volunteered also in several educational and community engagement initiatives. BCRG team members are passionate about shared & collaborative research to understand recurring patterns across ecosystems to engineer solutions and develop open libraries that model, simulate, and validate designs for the deployment of safe and generative economies. We are grateful to the support of the ETH ecosystem and look forward to continuing and expanding collaborations with you!\n\nAffiliations: \nhttps://block.science/\nhttps://tokenengineering.net/\nhttps://tecommons.org/\nhttps://www.commonsstack.org/\nhttps://giveth.io/\nhttps://mycofi.art/\n\nNOTE: We currently do not have a public chat as we are a focused R&D group, however we do host community research sessions which we advertise on Twitter.", "hidden": false, "question": "Anything else you'd like to share about your project, previous work, or other project affiliations? Anything you'd like to add that may help in determining project eligibility?", "questionId": 18}, {"type": "multiple-choice", "answer": "No", "hidden": true, "question": "Would you like to opt-in to future messages from Gitcoin for updates, information, and/or interviews? ", "questionId": 19}, {"type": "multiple-choice", "answer": "Yes", "hidden": true, "question": "Would you like to opt-in to us sharing your information with select third-parties for investment opportunities? ", "questionId": 20}], "project": {"id": "0x77ad10f6532a1fe22e28870d7f4d73eb3b05331c9470ebf1356aed5d5a9ef240", "title": "Bonding Curve Research Group (BCRG)", "logoImg": "bafkreihm7vwebl3lu6gz5i245czbockzwc4v7f4zvh5ked2dzeebeeu4e4", "metaPtr": {"pointer": "bafkreihzagnpzgoln6dj5gahfwtiafcmviglmjb3ttgw5bslvf36uqi2qa", "protocol": "undefined"}, "website": "https://auspicious-cap-b5c.notion.site/Bonding-Curve-Research-Group-a0fe00e81d84435a8fddd547a7888063", "bannerImg": "bafkreicfu4kalr3c7w75ctggxystnjvtryzyh2e62lrtjaannslfktnlx4", "createdAt": 1692040900341, "userGithub": "jessicazartler", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..fFk70NN5Ju-395v8fp9UYUuXaNFZmVW7AzBePXEbH_bBOiLF20VC-G_0C6QdMosNnHKAECnM0osaY1MQuQThBg", "type": "Ed25519Signature2018", "created": "2024-04-11T22:46:43.106Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-11T22:46:43.106Z", "expirationDate": "2024-07-10T22:46:43.106Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xb2821C0DF0c414ff51D3e8033CBA26DF6AaC587b", "hash": "v0.0.0:wM+rca21gLszHDNNCCr9aTqqOHdEHoMPWfuVZiIt+IE=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#Bonding_Curves"}}}, "description": "⚔️ The Challenge:\nIn the early days of crypto and ICOs, many projects and DAOs launched static supply tokens which struggled to expand and contract with bull and bear market swings, and are not adaptive enough for the dynamic nature of these nascent economies.\n\nThis has also been a huge challenge for token valuations, with many DAOs and organizations seeing massive selloffs and price drops in the 90%+ range. When token price is a primary driver of the capacity to carry out work in a DAO ecosystem, volatile token prices are a hindrance to production in Web3 organizations.\n\nMany DAOs and organizations are looking to move from static supply to dynamic issuance models and reduce volatility, however, many of these economic mechanisms and markets remain untested, and the designs need to be further studied and validated, in order to deploy safe and sustainable economies.\n\n⤴️ Overview of Bonding Curves:\nBonding curves are an interesting new tool in the Web3 space that tie two or more elements of a system together through mathematical relationships encoded into smart contracts. Bonding Curves are a ‘supply discovery’ mechanism that allows new tokens to be minted (or burned) by the deposit (or withdrawal) of reserve assets when the demand for new tokens is greater (or less) than the available supply.  Also called automated market makers (AMMs), there are different types of bonding curves, including but not limited to constant product, constant function, concentrated liquidity, variable product, time-weighted, and even order book-based bonding curves. \n\nBonding curves have also been ‘augmented’ with the addition of common pool treasuries or even prediction markets, in order to improve the collective signaling capacity of these new tools for social and ecosystemic benefit.\n\nThis is just the beginning of their utility, and current tools have only taken the first steps to explore this design space. Bonding Curves are a gateway for engineered control systems to facilitate and improve the economic management and value accrual systems of Web3.\n\nRead more:\nhttps://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/1Pxl_fbIPifIQ4_y0xoJGZGEk70qfOM3Gi9nWycm-8k\nhttps://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/3gTCNW1LcsNd_O8zgfgERXnZhA_8wYyyHkZRe-oxIns\n\n🚦The Opportunity:\nBonding Curves provide an economic invariant between the supply of tokens and the reserve assets backing their value, making token price deterministic and providing guaranteed liquidity for tokens. Adjusting the circulating supply based on demand dampens the volatility and couples with the demand for the token’s utility. \n\nUsing bonding curves as a continuous token issuance mechanism, organizations or communities can leverage algorithmic reserve and liquidity management strategies to provide volatility-damped token price fluctuations. The Token Engineering Commons Augmented Bonding Curve is a prime example of this, outperforming ETH through the bear market. Other blockchain ecosystems could employ these mechanisms to support their token economies’ success. \n\nThese open source tools should be further studied, modeled and explored in order to maintain open libraries of tools and documentation and establish connections with organizations who need help designing and deploying them (which could also serve as opportunities for service groups to develop revenue streams for further work and research).\n\n🎯 The Purpose of this Research Group:\nOur mission is to drive forward the research, development, education, and application of Bonding Curves in their various forms. This research group will provide chain agnostic research, development, education, and application of Bonding Curves in their various forms. This R&D will attract new talent and interest in the field of Token Engineering and to other blockchain ecosystems. Additionally, it will support building a common understanding and language around bonding curves and their applications to DAOs, businesses, finance, and economics. \n\nThis research offers improvements for understanding the design and ongoing operation of these new economic mechanisms, benefiting the field of Token Engineering directly through upgraded tools like open source libraries, models, simulations, and dashboards. The research and development also has huge impact through networking and deal flow for any blockchain ecosystem that would like to make use of these tool sets, open libraries, primitives, and research.\n\nBonding curves are an emergent, Web3 native, economic primitive that redefine markets and liquidity. By determining price as proportional to supply, liquidity can be built into an economy, ending the era of market crunches, and enabling transparent and discoverable market prices for assets. The research, development and education in token economic primitives like bonding curves and cutting-edge research in the TE field has profound potential and implications for our economic systems.\n\n📚 Past Work & Achievements :\nThe BCRG was founded in March 2023 and has three operational workstreams including Education & Content, Research & Ideation and Bonding Curve Analysis & Modeling. Here is a list of some of the work produced:\n\n-Exploring Bonding Curves: Differentiating Primary and Secondary Automated Market Makers: https://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/1Pxl_fbIPifIQ4_y0xoJGZGEk70qfOM3Gi9nWycm-8k\n-Modeling & Simulating Bonding Curves: https://mirror.xyz/0x8fF6Fe58b468B1F18d2C54e2B0870b4e847C730d/3gTCNW1LcsNd_O8zgfgERXnZhA_8wYyyHkZRe-oxIns\n-Knowledge Library - a collection of resources discussing bonding curves and the mechanism design space for crypto economic system: https://www.notion.so/Knowledge-Library-ea2a517d82b142778e033a45bc115a80\n-Case Studies (WIP) - case studies done on projects that have employed Primary Automatic Market Makers: https://www.notion.so/PAMM-Case-Studies-e994a43ab4dc4661aa355f868a20071e\n-Bonding Curve Classification Notebook (WIP) - a quick look at different kinds of curves and their equations: https://www.notion.so/Bonding-Curve-Classification-0e85d52249594c6aaaf7e3dcdcd958b1\n-Augmented Bonding Curve Model Github Repo (WIP) - an opensource python model used to simulate the Augmented Bonding Curve from the TEC ecosystem https://github.com/bonding-curves/conding\n-Bonding Curves Parameters Model: https://github.com/bonding-curves/conding/blob/main/conding/pamm/abc.py\n-Token Engineering Commons Dune Dashboard & Python Translation: https://dune.com/rxx_/bondingcurves\n-Open Research/Study Session Call Library: https://www.youtube.com/playlist?list=PLl_NgvZc7atfookYgCUuvDLPzodhAyXJu\n\n💸 Past Funding :\nWe applied for, and received, catalytic funding from the Token Engineering Commons, Retro PGF on Optimism, and are participating in Gitcoin rounds. However, we need further funding to continue of our research and development so are currently applying for grants.\n\n🔬 Further Research, Development, Education & Community Outreach:\n-Improved methodology for analyzing on-chain Bonding Curves data\n-Explore new bonding curve mechanisms such as -Shutdown & Liquidation Procedures\n-Develop gamified UX visualizations of the Bonding Curve where members can play with the parameter to see the final impact\n-Dogfooding an investable workstream and bonding curve with Inverter Network, which could become a template for other DAOs or organizations\n-Exploring volatility dampening mechanisms\n-Continuing our study sessions with invited guests from various token/blockchain ecosystems and building the video library\n-Educational posts and knowledge sharing on social media platforms\n\n🔊 How We Will Share Progress:\n-Bonding Curve Research Group platforms including Github https://auspicious-cap-b5c.notion.site/Bonding-Curve-Research-Group-a0fe00e81d84435a8fddd547a7888063\n-Transparent shared work processes (call notes, Miro board, call recordings as available)\n\nThank you for supporting Token Engineering public goods and the Bonding Curve Research Group! 🙏", "lastUpdated": 0, "projectGithub": "bonding-curves", "projectTwitter": "Bonding_Curves"}, "recipient": "0x29567BdBcC92aCF37AC6B56B69180857bB69f7D1"}}