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Introduction
Furucombo is a multi-chain DeFi aggregator designed to simplify, optimize, and automate DeFi trading for all users, new and advanced. Our product started as a tool built for end users to create their DeFi strategies with drag-and-drop cubes, but has now evolved into a DeFi portal to help you optimize your crypto.
Feature Set and Utility
We propose to include Radiant on the Furucombo create page, and the Lending Dashboard. Users on Arbitrum (and Ethereum) will be able to manage their radiant positions from these two interfaces.
Create mode is our drag-and-drop interface in which protocols and actions are represented by cubes. You can chain these cubes together to create complex transactions, or do many trading actions and execute them in one transaction.
The Lending Dashboard allows users to manage their positions from our interface, and gain access to advanced strategies that wouldn’t otherwise be possible through utilizing flashloans.
On create mode the feature set will include:
- Radiant Cube with:
- Deposit
- Withdraw
- Borrow
- Repay
- Flashloan
The strategies available from the Lending Dashboard include:
- Collateral Swaps (swap deposited assets without first repaying your debts, requiring no up-front funds)
- Debt Swaps (swap borrowed assets without first repaying your debts, requiring no up-front funds)
- Leverage (borrow funds from your collateral, and redeposit to increase leverage)
- De-Leverage (withdraw your position without any upfront funds using your collateral to repay the debt and unlock the remaining principal)
For more background on our functionality, please see the following tutorials:
- Introduction to Create Mode
- Introduction to Flash Loans (Arbitrage)
- Advanced Flash Loans (Position Management)
- Lending Dashboard
Unique Value Proposition
There are many benefits for adding Radiant to the Furucombo proxy and interface. This includes:
-
Flashloan fees - Radiant depositors will earn a percentage of the flashloan volume as fees which means higher return on investment. Currently, the flashloan feature on Radiant is underutilized, so our integration will take advantage of this function.
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Unique position management strategies - Currently it is not possible to perform the advanced trading actions without coding one’s own contract (as there is no front end for flashloans). Furucombo offers the utility for these advanced position management strategies which are useful for users wanting to manage their positions. This includes the strategies stated above (collateral swap, debt swap, leverage, and deleverage).
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Multiple actions linked together - Radiant users can use the composability of Furucombo to perform linked actions, such as withdrawing from an asset, and depositing to another, or making a deposit and borrowing funds in one transaction. Additionally they can utilize the Furucombo to swap, send tokens, or bridge to different networks allowing more possibilities for interaction.
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Co-marketing - Active partner participation with ongoing campaigns to increase volume and user count. We are launching the ‘Arbitrum Degens’ campaign very soon and Radiant is invited to participate in our campaign.
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Further collaborations - Furucombo is committed to continue to add new features and functions. This includes any future developments by Radiant (including new network additions), and any integrations that can further increase the composability of Furucombo and its partners.
Statistics
- Completed over 180,000 total successful transactions from over 19,000 unique addresses
- Over 100,000 unique addresses connected with our protocol
- Generated $288M in volume in 2022
- Lending Dashboard: Over $2M in volume since release with over 250 unique users
- Large community with: 64k Twitter followers, 18k Discord members, & 2.4k Youtube subscribers
Grant Details
Furucombo wishes to request a grant from the Radiant DAO in order to add the aforementioned features. The grant breakdown is as follows, depending on the features the DAO wants to implement:
- $6,000 - Create Mode Integration (Arbitrum)
- Radiant Cube - Deposit, Withdraw, Repay, Borrow, Flashloan
- $6,000 - Lending Dashboard Integration (Arbitrum)
- Radiant - Deposit, Withdraw, Repay, Borrow, Debt Swap, Collateral Swap, Leverage, Deleverage
- $3,000 - Create Mode Integration (Ethereum)
- Radiant Cube - Deposit, Withdraw, Repay, Borrow, Flashloan
- $3,000 - Lending Dashboard Integration (Ethereum)
- Radiant - Deposit, Withdraw, Repay, Borrow, Debt Swap, Collateral Swap, Leverage, Deleverage
Total grant requested for Phase I (Arbitrum integration) = $12,000
Total grant requested for Phase II (Ethereum integration) = $6,000
To be deposited by the DAO upon completion of the tasks to Furucombo.
If there are other features from Radiant you wish to see, please let us know and we can analyze to determine viability and costs.
Timeline
Once the grant is approved, we will need three weeks upon assigning manpower to complete the Phase I integration of Radiant.
Conclusion
We are excited to be working with Radiant and look forward to the support of the community. We hope that you see the value in what we are building, and can’t wait to bring these features live on chain for you all to use. We look forward to a long and prosperous partnership between our communities and protocols.
Thank you for your consideration!