Milestone 1: Stable Coins For BTC and TESLA regarding a bounty by Yaeni

Greetings Yanislav Malahov,

I saw your challenge on Twitter and replied here (that I would like to participate in this challenge :slight_smile:)

As my understanding goes, We cannot perform transactions of BTC or TESLA on top of AEternity. So I want to create algorithmic stable coins for BTC (AEBTC) and TESLA (TAESLA). Then I will create a swap contract on top of those AEX-9 (stable coins).

Tracking transactions of BTC and TESLA can be done from the outside like BTC light node and upstocks API for TESLA (Scripts listening and providing provable data to mint coins inside AE contracts, if required)

I am looking for a $30k initial funding for research & development of algorithmic stable coins on top of Aeternity which I am looking to complete in the next 2 weeks with working contracts and later create contracts to perform the swap operations to opt-in for the $100k challenge in 1-month time frame (That is set by you)

Please let me know your questions and I will be more than glad to answer.

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I really like this Idea, I hope there is some support from the foundation

My few cent’s

Just having the logirithmic stable coin will not help.
A proper planing to get liquidity and community around it should be a better version.

I suggest there need to be liquidity generational event for the same.

Tagging the best advisor for this @lukaskywalker.chain :rocket:

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Maybe 100k could be devided into 3 phases

20k to 30k to build the product

Then try to convince some influencer, there are total of 150 influencer in there whole blockchain ecosystem. use the 10 - 20k to get them onboard

remaing + community use it for liquidity.

this could perhaps get some eyes on the project.

This is how we did for our project. The influencers are the main thing that can push news to everyone. regardless of blockchain and other stuff.

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I will try to collect information on this after our launch.

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@genievot Thank you for the post. If you want to apply for a grant for the open source development, please use the foundations’ grant application template for it. However if you want a bounty from the Aeternity Anstalt please apply for this directly to Yani. Please note that the ACF and the Aeternity Anstallt are different organisations.

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Thank you @lydia. I think this thread can be discontinued. Can you please tell me where can I apply directly to Yani?

@Vikram we can keep our discussion alive regarding this in pm.

Thank you all for your beautiful feedback.

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