Partnership Proposal: Zap into bundles of self-custodial strategies across chains with Koingaroo
Date: 2023-06-11
Abstract
Koingaroo offers self-custodial investing across chains in literally 60 seconds. We are seeking partnership with Radiant. To be clear, we are NOT asking for funds to build the below (we are happy to bootstrap funds on our own). Instead, we are seeking (in decreasing priority) the following:
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Community support. Primarily, we would like interested users to sign up for our closed beta at https://www.koingaroo.com, so we can use your feedback to improve our product. If you’re willing to chat with us for 30 min (we are offering $20), please fill out https://forms.gle/tR7P9TkJn9jzcEys5.
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Co-marketing on Radiant’s channels e.g. announcements, AMAs
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Temporary incentives for users that enter Radiant strategies through Koingaroo
Many DeFi users invest in multiple strategies, protocols, and chains. The current user experience is sheer pain
Let’s give an example. Say you DCA $500 every week into your multichain portfolio. You allocate
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$200 to Lido liquid staking ETH (Ethereum mainnet),
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$100 to lending BUSD on Radiant (BNB),
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$100 to zap into dLP on Radiant (Arbitrum)
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$100 to LP into DOT-USDC on Stellaswap (Moonbeam ~ a Polkadot parachain)
That requires several token bridges and swaps, dApp UIs, wallet connects, transaction signatures and gas fees … it is sheer pain.
As a result, many users restrict themselves to just a small number of protocols or chains, or to DCA less often, or to round-robin their DCA strategies instead of allocating to all of them each time (effectively DCAing less often).
Koingaroo enables users to do self-custodial investing across chains in 60 seconds
Here is the new user flow with Koingaroo.
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Select self-custody strategies, from a curated checklist that covers multiple chains.
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Allocate funds to each strategy, e.g. even split across all
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Pay in a supported token on any chain, e.g. pay in USDC or ARB on Arbitrum
In 60 seconds (typically less, depending on network congestion), all those investments end up in your wallet. The end result is identical to as if you went to each of these dApps individually, and in fact you can monitor and interact with your investment (e.g. claiming rewards, withdrawing tokens) on all these dApps as before.
Please check out a demo of our MVP app (which is live and in closed beta on Polkadot) at Koingaroo: Earn yield across chains in 60 seconds - YouTube
Our team has a track record of delivering on the Polkadot ecosystem, but we are newly entering Arbitrum
We (Kap & Nat) have been building on Polkadot for the past 7 months. We built its first and only cross-chain DEX aggregator (app.privadex.xyz). For this, we received the highest level grant from the Web3 Grant Foundation, and separate grants from parachains Phala and Moonbeam, for our open-source contributions (which you can find here). More recently, we were accepted into the Moonbeam Accelerator program (backed by Arrington Capital) for Koingaroo.
We are eager to build in Arbitrum because the DeFi landscape here is so rich. With so many siloed options, there is a lot of scope for simplifying the user experience. Radiant obviously is a standout not only in terms of its hard statistics (TVL, APY) but also from a community perspective, which is essential for us to acquire our first users on Arbitrum. As a side note, we are impressed by the core team that seems to always be pushing forward and also manages to make time to get on a call with external teams like us!
We seek community support to get off the ground in Arbitrum
We believe Koingaroo can substantially improve the DeFi user experience, especially as more chains and protocols pop up. Our requests are the following:
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Community support. Primarily, we would like interested users to sign up for our closed beta at https://www.koingaroo.com, so we can use your feedback to improve our product. If you’re willing to chat with us for 30 min (we are offering $20), please fill out https://forms.gle/tR7P9TkJn9jzcEys5. We know it is critical to have a core set of initial users with whom we can iterate.
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Co-marketing on Radiant’s channels e.g. announcements, AMAs. This will go a long way to reaching the Radiant (and broader DeFi) community; Koingaroo’s value proposition becomes stronger with more supported strategies and chains.
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Temporary incentives for users that enter Radiant strategies through Koingaroo. Pragmatically this will help incentivize the initial users to break their regular patterns and start investing through Koingaroo. This is just a temporary measure, since we wager that the convenience of Koingaroo will keep users using it.
Thank you for your consideration. We are happy to adjust this proposal and answer any questions, as the community sees fit.
Kap
- We should give partnership/community support to Koingaroo!
0 voters