Ssal grant application #1986
Ssal grant application #1986
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Thanks for the application, @MatteoPerona. There are some things missing and not fitting, so I left a couple of comments below. Generally, I'd be curious to know if you are planning to deploy on Astar then, or possibly Watr?
applications/ssal-commods-dex.md
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| | Number | Deliverable | Specification | | ||
| | -----: | ----------- | ------------- | | ||
| | 0e. | Article | We will publish an **article** covering everything the team has built and learned on site. It will act as a compilation of our learnings trying to apply our blockchain application to a real life scenario. Hopefully by publicizing our victories and mistakes others will be able to learn and improve upon our methods. | | ||
| | 1. | On Site Integration | The team will fly out to Ivory Coast and set up the first real-world supply chain for Ssal. | |
| 6. Designating which party (the buyer or the seller) is responsible for transportation and its related costs. | ||
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| This open model allows for markets which better serve the niche requirements of commodity producers and purchasers. It creates an upgradeable set of conventions which allow the market to optimize itself. | ||
| The lockup model adds a layer of security for buyers. It freezes the buyer's funds until a contract’s finality date, at which point, the buyer will either verify that the physical product exists, is of good quality, and is changing hands, or they deny the quality/existence of the physical product and their funds are returned. For all transactions, complete or incomplete, there is an on-chain record of the transaction, so either party can use such information to take legal action against the other if they feel compelled to do so. A blockchain provides the ideal paper-trail to build a solid case and would disincentivize fraudulent activity. |
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Do I understand correctly that dispute resolution is outside the scope of Ssal?
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No, I will revise the wording in the document. We plan to implement a governance system to resolve disputes, but only after we have finished developing and proving the core technology.
Co-authored-by: Sebastian Müller <[email protected]>
Co-authored-by: Sebastian Müller <[email protected]>
Co-authored-by: Sebastian Müller <[email protected]>
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Thanks for the adjustments @MatteoPerona I will mark as ready for review and ping the rest of the committee. |
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ready for review
MatteoPerona
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Congratulations and welcome to the Web3 Foundation Grants Program! Please refer to our Milestone Delivery repository for instructions on how to submit milestones and invoices, our FAQ for frequently asked questions and the support section of our README for more ways to find answers to your questions. |
Project Abstract
Ssal introduces a blockchain-based commodities exchange platform, designed to operate within the Polkadot ecosystem using smart contracts. Ssal aims to enhance transparency and trust in commodity trading while reducing entry barriers for producers and consumers in emerging markets. It leverages blockchain technology to provide real-time price transparency, decentralized price discovery, improved risk management, enhanced liquidity, and quality assurance through partnerships with local businesses. The project's primary objective is to bring equitable and efficient financial services to underserved economies, particularly in West Africa.
The development roadmap can be broken into three main sections each requiring one month of work: development, testing, and implementation. Through the first two months our team will be working out of San Diego to develop and test our application, while the last month will be spent implementing, refining, and documenting our process. Future plans involve enhancing infrastructure for continuous integration, adding customizable Automated Market Makers (AMMs), and implementing a governance system for dispute resolution. The project aligns with the Web3 Foundation's interest in funding projects that expand the use case for ink Smart Contracts and aims to benefit both its user base and the broader ecosystem by open-sourcing its code and fostering decentralized commerce development. The team has diverse expertise in blockchain, fintech, mathematics, and computer science, and we have previously worked together on projects for social good through our non-profit organization, COMPASS.
Overall, Ssal represents a promising initiative to transform commodity trading by harnessing the capabilities of blockchain technology and reducing market inefficiencies while addressing the unique needs of emerging markets.
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Application Checklist
project_name.md).@matteo-p:matrix.org(change the homeserver if you use a different one)