{"signature": "0x38828e56a569a3b8ede443190260a6ed9a37b7e6ce07e3be002ffdab6905a0163a213cdf51991a0676acb9f59ab8902a737db0fbb71d6d7bcbdcc4133c09b3231b", "application": {"round": "0xe03a19f4921d69cddd37f54dfe814dc66aa92100", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "Z+yR/BCq4eo4dPX/6yBIHZNaL1sdWelq/Vp6jVLA9c6gDYOBssmLegIGCNZExzN1", "encryptedSymmetricKey": "57097784835fe95b2185f6fc515fcb74d25d5b13c87bac3f6188a6a68be6cfb59fdaca59d2a138dbfdad2af55a52351800678729087927eb510c60a7f00098fe6ebf14f5a7e300c11cc78cec5ed79d389d3fc30401847e60f7e597439490d6a4b67bbad8c2aa835c673acf37d2f622407f39be3accaefaf31716b51c80ae46f7000000000000002000f0e3c22a037ea48e823808404205357c705719089228c2f776f5a695075f420c4f7aeabd2a0763ed212c65d8aceca5"}}, {"type": "short-answer", "hidden": true, "question": "Telegram Handle We Can Use To Contact You(you can answer N/A)", "questionId": 1, "encryptedAnswer": {"ciphertext": "kOl8XQrijf2UmWo04Kyh2bfqtGVPgK9YkVDGLFK+4QSUxUVHr6iYbuf+EiiCPXL3", "encryptedSymmetricKey": "e1f790acefa72b9a07e82faef97391a095c6fcb4b54c9d9486bfcb431f842dc105bc98d7716497ca65be8e5d88dd5c1681721776f2d55ae5b91c5ab13dac688acdc447050be90ae90a1e64c79d777952dd0068bebbcbefa35d6bae4d3608fd8ae822dbdb5e49b86423f8070d668aa59d545d7e7ac9c6963e93f714bcf83d1ad00000000000000020f1c9cd2795a8a707182b86c872dc22a0d62f03d3dec400bda3467b31045ab115286effaa343b65ecac549b52143239b3"}}, {"type": "link", "answer": "https://github.com/CarmineOptions/", "hidden": false, "question": "Project GitHub Repo (Not Team Page): ", "questionId": 2}, {"type": "number", "answer": "10", "hidden": false, "question": "Total Team Size", "questionId": 3}, {"type": "paragraph", "answer": "https://github.com/MarekHauzr\nhttps://github.com/tensojka\nhttps://github.com/DaveVodrazka\nhttps://github.com/Chepelau\nhttps://github.com/lukaspetrasek\nhttps://twitter.com/Pseudo0x0x\nhttps://github.com/nickgore\n", "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": "https://twitter.com/MHauzr", "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://discord.gg/uRs7j8w3bX", "hidden": false, "question": "Link to your Public Group Chat (e.g. Discord or Telegram)", "questionId": 6}, {"type": "paragraph", "answer": "Over the past few months, a lot has happened in terms of development.\n- DeRisk (our risk assessment and monitoring is already up and running on Starknet. It will very soon go live on Solana, and Stellar). We are underway to build it for some other chains as well.\n- V2 of our smart contract is live.\n- We have recently launched Carmine Points to accelerate our growth.\n- We are continuing the development of Hedging against Impermanent Loss.\n- We are continuing the development of Carmine Governance.\n", "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/CarmineOptions/, https://carmine.finance, https://starknet.derisk.carmine.finance\n\nThrough a number of unique users coming to the platform. The growth in TVL would be another milestone in ascertaining the impact of the project. From the numbers shared in the previous Gitcoin grant round, we are up by almost 1.5x in terms of unique users coming to the platform and adding liquidity/trading options.\n", "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": "315500", "hidden": false, "question": "Total Prior Funding Amounts, Sources, and Dates for the project in USD", "questionId": 10}, {"type": "checkbox", "answer": ["Grants", "VC"], "hidden": false, "question": "Which of the following funding sources do you have? Check all that apply", "questionId": 11}, {"type": "number", "answer": "24", "hidden": false, "question": "How old (in Months) is the project?  ", "questionId": 12}, {"type": "multiple-choice", "answer": "Europe", "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": "Carmine developers are building software to allow the web3 space to mass-adopt insurance. There are several things to be done, infrastructure for hedging and insurance is based on Options AMM and understanding risks is based on DeRisk. Together this enables users to insure themselves.   ", "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": "Thanks to Carmine users can simply be and feel safer on chain in terms of financial stability and being protected against various financial risks.\n", "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": "What we have built allows anyone to better understand risks in DeFi. We are publishing information about it. Most importantly the SW we have built allows users not only to understand but also insure or hedge against the risks.\n\nThis allows the members of communities to be better protected against wild price swings and volatility of crypto. \n", "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": "MIT. All mentioned are 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 applications are up and running, some managed by the community. We are also actively improving and implementing new features. We are at the start of what we want to build.", "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": "We want to help users and communities to be better protected against the risks in DeFi. We will\n- publish educational articles.\n- develop additional features in DeRisk, specifically user notification against risks in DeFi.\n- continue developing Carmine Governance\n- continue R&D in insurance and hedging products in DeFi\nWe will try to use the gained capital to allow the community to build these, rather than the core team, since the end goal for this project to be self sustainable.  \n", "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": "The core team spent its careers between AI/ML, HFT, MEV and its background covers this more than well. This makes us incredibly well suited to deal with modeling and measuring risk in DeFi.\n\nOur community has been buzzing lately. We have got an influx of contributors and ambassadors who are proactively helping us grow in terms of marketing. With immense support and guidance from the Starknet foundation, we have been relatively successful with developers that want to learn new things and contribute to open source at the same time. Grants have been immensely helpful in shaping Carmine in terms of getting the right people onboard. Now, we are super focussed on growing our user base, and at the same time improving our product suite.\n", "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": "Yes", "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": "0x9eac749d796ccde09d578e837d78862117aac02a30f9d9bfbb2bbe2bdffc6532", "title": "Carmine Finance", "logoImg": "bafkreie3hybtd4dxykjlokst664ticayvuwo3yunjp4rqsie4azffev4iu", "metaPtr": {"pointer": "bafkreie3k6b522isqxsvqfdu33zvfwupug6sapsvo7ucvwjz2znsae6lku", "protocol": "undefined"}, "website": "https://carmine.finance", "bannerImg": "bafkreieoee5qpywqjdtdofcwnxweqguljdwg6srxtdv4a5uya23hzj5yma", "createdAt": 1713302247227, "userGithub": "MarekHauzr", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..NXwUKxm5uPran2sKpZxHf6MKaEb-Z6Eqjba6VXTEXSGHfSCiMXwYt_kFhdfpV29Gma-T9GE3sBCXUJVnq-wzAA", "type": "Ed25519Signature2018", "created": "2024-04-16T21:17:09.353Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-16T21:17:09.352Z", "expirationDate": "2024-07-15T21:17:09.352Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa4ad2Ee4f67C3C83a0081060b6AeA2c88dFc36f3", "hash": "v0.0.0:JAS8uz296DOPQ9sRKz0ylsZPylXd712Wb2VccPneRKA=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#CarmineOptions#8970363"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..7JyxbdAL0q8z4LF2cZYnd6PqCLeBFxFru81AfhZR2FN7WKjyQQmhaWW_sy-jrUXSo2SlghpbP7LBraLvyZxxDw", "type": "Ed25519Signature2018", "created": "2024-04-16T21:16:55.974Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-16T21:16:55.974Z", "expirationDate": "2024-07-15T21:16:55.974Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa4ad2Ee4f67C3C83a0081060b6AeA2c88dFc36f3", "hash": "v0.0.0:qV06sSdtpQ7+Uh76iKrEExK5BscVkbueF7emVwGRg08=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#CarmineOptions"}}}, "description": "# Carmine Finance\n**Carmine Finance has a simple goal. Take care of crypto risk.**\nCarmine community takes care of risk through insurance, hedging and monitoring. We are **pushing the boundaries** of these.\n\nCarmine Finance offers a robust infrastructure that equips the community with advanced tools, promoting self-directed risk management, insurance solutions, and governance within the DeFi ecosystem:\n- **DeRisk:** A platform that facilitates independent risk monitoring and mitigation strategies, enabling users to safeguard their digital assets proactively.\n- **Options AMM:** A foundational tool for the community to create diverse insurance products, allowing for flexible risk coverage tailored to their needs.\n- **Governance Framework:** An accessible and customizable system that empowers any Starknet protocol to innovate with token creation, distribution, and staking, reinforcing community-led governance.\"\n\nThese are the primary use cases of the products built by Carmine Finance. These open source products enable the creation of multiple other chain-agnostic solutions for protocols. And Carmine Options AMM stitches all of these together, being the powerhouse of the entire product suite.\n\n\n# Description:\n\nThrough DeRisk, any protocol built on any chain, will be able to monitor the risk of liquidations.\nThrough Carmine Options AMM ( a unique open-source solution built by the developers at Carmine Finance), blockchain users and protocols can:\n- Hedge or insure against the risks that apply to them. \n\n\n## Carmine Options AMM\nThe Carmine Options AMM allows users not only to buy, but also to sell options. This has strong implications for liquidity providers - it minimizes their risk and increases the usage of provided capital. Alongside standard pairs listings, one can trade options for different underlying assets such as NFT portfolios and more. \nWe view options as “if statements with market pricing”. Imagine being or not being able to use “if statement” while implementing some software. Implication of viewing options in this way is a revolutionary approach that provides a **major building block to DeFi composability**.\n\n\nThings that can easily be built on top of these building blocks include\n- Hedging / insuring investments (https://app.carmine.finance/insurance)\n- Hedging and insurance against impermanent loss\n- Insurance against game commodities during price drops\n- Insurance against risk of under the water loans (shortfall events)\n- Moves us closer to solving the problem of capital efficiency in DeFi\n- Many more (https://docs.carmine.finance/carmine-options-amm/use-cases)\n\n\nThe smart contracts are written in a way that anyone who deploys them can easily build products on top of them, or build on top of the already deployed.\n\n\n ## DeRisk\nA simple yet sophisticated open source tool built by the developers of Carmine Finance to monitor risks in DeFi. The high ambition project is already live on Starkent and will soon go live on Solana, and Stellar. The goal is to monitor, estimate and forecast risks associated with the behavior of DeFi protocols.\n\n\nThe first major risk that is being monitored is a risk of occurrence of under the water loans. The project quantifies this risk and allows anyone to adjust the models, integrate new protocols (data sources). The main objective is to provide information so that this risk can be managed in a better way and new products can be built or current ones extended. Imagine being able to use any asset as collateral.\n\n\n## Carmine Governance\nWe believe builders on StarkNet should be laser focused on building their products and not on building tooling or features that are very similar or even the same across different projects. Just as builders don’t create their own IDEs, testing and deployment frameworks and so on, they should not be building their own governance (unless they have a good reason for it), token distributions or spend a lot of time on thinking about where and how to list their token. Spending time on these tasks diverts builders from what matters, especially in the early days of their projects. Simultaneously, there should be multiple options to pick from, the same way you have multiple IDEs, wallets, DEXes and so on.\n\n\nWe are building **Governance that will be usable by any protocol on StarkNet**. That will save on development time and guide developers through **project token creation, token distribution, staking, listing and more**. There is a lot ahead of us and we have already released a pilot version and Carmine Options AMM is using it to guide its decisions.\n\n\nCertainly, here's a drafted roadmap formatted with bullet points, aiming for clarity and showcasing future initiatives:\n\n\n**Carmine Finance Roadmap:**\n- **Strategic Partnerships:** Forge collaborative ties with leading protocols on Starknet to enhance cross-protocol functionality and open up new utility avenues for users.\n- **DeFi Spring Incentives:** Actively engage and contribute to the ecosystem's liquidity and growth. This is solely pertaining to the Carmine Options AMM as one of the leading protocols on Starkent.\n- **Influencer Collaborations:** Engage with Key Opinion Leaders (KOLs) within the crypto space to boost awareness and adoption of Carmine Finance's offerings through authentic and educational content.\n- **Campaign Partnerships:** Launch joint campaigns with prominent bridging and wallet services to ease user onboarding and provide seamless experiences for liquidity provision and trading on Carmine Finance.\n", "lastUpdated": 0, "projectGithub": "CarmineOptions", "projectTwitter": "CarmineOptions"}, "recipient": "0xa4ad2Ee4f67C3C83a0081060b6AeA2c88dFc36f3"}}