{"signature": "0xacd62ff7105359d466063f300236d12af2ad65ffed738c8c2213170feec5c1ba5e5ffe960785d67fdf64e9a55f03e211bf044e9bbb5db905a3ec01b8e01cc6ec1b", "application": {"round": "0xe03a19f4921d69cddd37f54dfe814dc66aa92100", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "WhuPB7wiGs3KCYwBlN3NY/b6bTZTABL2d2KF6FBd7wja5QpUB76XwQx4I1GS9Wz9", "encryptedSymmetricKey": "b5d7345509a46e40d04e7cb060109045a6a68dea4a73f3ba6d03b551ddf1c6da743e101431bc9b60d0b61f5524f7a10451387eebc783f370d9e92d025d31e6002dedf6e05e09847d5e3fccc86b63c461b8f941271bb9ca06f28b9c6d2cf5e4b1babf620cdd796d1d55f838e93d27b4b20324541e776199f3975694c2b264c33400000000000000201ac44893bc430f9cea7bf778c66a1d6d81d8c8b0d7535102df8abafb248a5ca95a4d89e377c98b0d1be8fdd37d6b4aa0"}}, {"type": "short-answer", "hidden": true, "question": "Telegram Handle We Can Use To Contact You(you can answer N/A)", "questionId": 1, "encryptedAnswer": {"ciphertext": "qkWPA48idXrJUz8k7c1CzG5HQtr5jdlIATNK0fcfgng=", "encryptedSymmetricKey": "a8dd11cfadb7822b8ebd65991df41bc110dcec03eccd971fd91be68c626455283ea17b00b07e7e801f1994166cfb5009f4ab85bccb4f74866509e5e052d5734bce9222834aedfdff5c1f8d6bdf0bde675001edcb33c105a535a4f590e3f93894d523caa6b17ead9897597fa5bc562914927552390f604b0afb916c201bac549e00000000000000204d82dce1c96139a3874d75ac6c4d5c1eb36755462cf49d0653a2d8e66395e515d1e429ad66f846e8f06e245acdf1f4a7"}}, {"type": "link", "answer": "https://github.com/alcueca/erc7399-wrappers", "hidden": false, "question": "Project GitHub Repo (Not Team Page): ", "questionId": 2}, {"type": "number", "answer": "2", "hidden": false, "question": "Total Team Size", "questionId": 3}, {"type": "paragraph", "answer": "alcueca - arb1:0xbb807E3E765a9487F5F423C3555b329E755c1EEE\nultrasecreth - arb1:0xAA62cBC86d65917a44EF1C1fae3AAB55fbd773C5", "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": "@alcueca\n@ultrasecreth", "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://t.me/erc7399", "hidden": false, "question": "Link to your Public Group Chat (e.g. Discord or Telegram)", "questionId": 6}, {"type": "paragraph", "answer": "N/A", "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://github.com/alcueca/erc7399-wrappers", "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": "0", "hidden": false, "question": "Total Prior Funding Amounts, Sources, and Dates for the project in USD", "questionId": 10}, {"type": "checkbox", "hidden": false, "question": "Which of the following funding sources do you have? Check all that apply", "questionId": 11}, {"type": "number", "answer": "9", "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": "Problem\nThe current state of the flash loan ecosystem is fragmented and lacks standardization, leading to several challenges for both lenders and borrowers. The absence of a common interface results in increased integration efforts, as each flash loan provider implements its own unique approach. This lack of standardization is expected to become more problematic as the ecosystem grows, requiring more resources to maintain compatibility.\n\nA comprehensive analysis of the existing flash loan protocols reveals significant differences in their implementations, including:\n\nInconsistent syntax for initiating flash loans across different platforms.\n\nVariations in the relationship between the loan receiver and the callback receiver, with some protocols allowing different addresses for each role while others do not.\n\nDivergent repayment mechanisms, with some lenders pulling the principal and fee from the loan receiver and others requiring the loan receiver to manually return the funds.\n\nDisparities in the treatment of flash minting, where some lenders allow the creation of any amount of their native asset without charging a fee, effectively permitting flash loans bounded by computational constraints rather than asset ownership limitations.\n\nSolution\nTo address these inconsistencies and promote a more efficient and accessible flash loan ecosystem, we propose a standardized interface that encompasses the maximum flexibility required by both lenders and borrowers. By consolidating the various approaches into a unified standard, this proposal aims to streamline the integration process, enabling borrowers to seamlessly switch between flash lenders without the need for code modifications.\n\nTo ensure that the standard achieves significant traction, wrapper contracts are being created that conform to the standardized interface, while using liquidity from existing flash lenders. Wrapper contracts are also being developed to enable other sources of liquidity for flash loans.\n\nWe envision the 7399 contracts to be the preferred venue for flash loans in the whole ethereum ecosystem.", "hidden": false, "question": "Please describe your dApp or App, focusing on its innovative utility or service within the ecosystem. Highlight the problem it solves or the need it addresses.", "questionId": 16}, {"type": "paragraph", "answer": "The 7399 contracts were designed for maximum flexibility of flash loan borrowers. All contracts are permissionless.", "hidden": false, "question": "Describe how your application improves user experience in the Web3 space. Include any specific design choices or features that enhance accessibility and practical utility.", "questionId": 17}, {"type": "paragraph", "answer": "This is a common goods project. It collects no data about its users and collects no rent. Common goods projects primarily benefit those with no assets and have a positive social impact.", "hidden": false, "question": "In what ways does your project contribute to financial inclusion, education, or social impact? Explain the specific areas of impact and the target audience or communities you serve.", "questionId": 18}, {"type": "paragraph", "answer": "The project uses a MIT license. All code is public.", "hidden": false, "question": "What type of open source software (OSS) license(s) do you have? Is all of your code available on public repos or is some portion of your codebase private?", "questionId": 19}, {"type": "paragraph", "answer": "The project is live and users are giving positive feedback. We intend to keep adding flash loan lenders as they come online.", "hidden": false, "question": "What stage of development is your application currently in, and what are your immediate next steps? Provide a roadmap or development timeline if available.", "questionId": 20}, {"type": "paragraph", "answer": "The funds will be used for audits, which users consider necessary for trusting the project, and for contract deployments, which can be costly on L1s.", "hidden": false, "question": "How would funding from this round support your project's development and goals? Outline specific areas where the funds would be allocated (e.g., development, user research, community building).", "questionId": 21}, {"type": "paragraph", "answer": "We do this out of love for the Ethereum ecosystem, because we think we are making it better. We demand nothing in return, but help is always appreciated.", "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": 22}, {"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": 23}, {"type": "multiple-choice", "answer": "No", "hidden": true, "question": "Would you like to opt-in to us sharing your information with select third-parties for investment opportunities? ", "questionId": 24}], "project": {"id": "0x06f1ea1d459b6e47a08d4a8ac5f652f4754b692f350d340a93fec95d29a761bb", "title": "ERC7399 - Unified Flash Loan Layer", "logoImg": "bafkreihq3xtu2ozciqdxbj6dhamgouddmhwgx2pywvns47v73676dqy7ri", "metaPtr": {"pointer": "bafkreidpi46nrcj6eoc4t2nooimew5uhq3z3qu67gb7srukwkm5s2ymx6q", "protocol": "undefined"}, "website": "https://github.com/alcueca/erc7399-wrappers", "bannerImg": "bafkreiaanamqrgiqhn2xulic7lsmy4m3aqk7l2hhrd4fqy7y3gr2kri4gu", "createdAt": 1713792920341, "userGithub": "alcueca", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..EmX6PN-bOVktrstFQysJgD0Gfyi-Y6M9ySGxepm04_YFe4gV4ID2LpcR2GG58f31V9UYH7OxY0QVKEOyoNv0DA", "type": "Ed25519Signature2018", "created": "2024-04-23T05:30:19.791Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-23T05:30:19.791Z", "expirationDate": "2024-07-22T05:30:19.791Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xbb807E3E765a9487F5F423C3555b329E755c1EEE", "hash": "v0.0.0:2D3oOX+tYsGmHZLZU0Cql4MAT6LeryzrR3cgcDARS9Q=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#alcueca"}}}, "description": "# Problem\n\nThe current state of the flash loan ecosystem is fragmented and lacks standardization, leading to several challenges for both lenders and borrowers. The absence of a common interface results in increased integration efforts, as each flash loan provider implements its own unique approach. This lack of standardization is expected to become more problematic as the ecosystem grows, requiring more resources to maintain compatibility.\n\nA comprehensive analysis of the existing flash loan protocols reveals significant differences in their implementations, including:\n\n- Inconsistent syntax for initiating flash loans across different platforms.\n- Variations in the relationship between the loan receiver and the callback receiver, with some protocols allowing different addresses for each role while others do not.\n- Divergent repayment mechanisms, with some lenders pulling the principal and fee from the loan receiver and others requiring the loan receiver to manually return the funds.\n- Disparities in the treatment of flash minting, where some lenders allow the creation of any amount of their native asset without charging a fee, effectively permitting flash loans bounded by computational constraints rather than asset ownership limitations.\n\n# Solution\n\nTo address these inconsistencies and promote a more efficient and accessible flash loan ecosystem, we propose a standardized interface that encompasses the maximum flexibility required by both lenders and borrowers. By consolidating the various approaches into a unified standard, this proposal aims to streamline the integration process, enabling borrowers to seamlessly switch between flash lenders without the need for code modifications.\n\nTo ensure that the standard achieves significant traction, wrapper contracts are being created that conform to the standardized interface, while using liquidity from existing flash lenders. Wrapper contracts are also being developed to enable other sources of liquidity for flash loans.\n\nWe envision the 7399 contracts to be the preferred venue for flash loans in the whole ethereum ecosystem.\n\n# Plans for Funding\n\nThe wrappers are simple but must be audited to encourage would-be-users. Deployment costs would also be covered by funding. All development work is done by volunteers.", "lastUpdated": 0, "projectGithub": "alcueca", "projectTwitter": "alcueca"}, "recipient": "0x888C40580375F93e1aeb2f64C1D529271b797e10"}}