Name of Grant
rETH Integration in wannabet
What is the work being proposed?
We have added rETH support to WannaBet, an existing onchain peer-to-peer social betting tool.
This integration allows parties to earn yield on their funds while participating in bets using rETH.
Is there any related work this builds off of?
WannaBet is an existing project that we’ve enhanced with rETH integration.
Will the results of this project be entirely open source (MIT, GPL, Apache, CC BY license or similar)? If not, which parts will not be, why, and under what license will they be published?
Yes, all aspects of the project are open source. Github Repo
Benefit
| Group | Benefits |
|---|---|
| Potential rETH holders | The integration provides an additional use case for rETH, potentially attracting new holders. |
| rETH holders | Existing rETH holders gain a new way to utilize their tokens while still earning yield. |
| Potential NOs | N/A |
| NOs | N/A |
| Community | The integration contributes to the proliferation of rETH and adds more use cases, strengthening the Rocket Pool ecosystem. |
| RPL holders | Increased utility and demand for rETH could indirectly benefit RPL holders through increased protocol usage. |
Which other non-RPL protocols, DAOs, projects, or individuals, would stand to benefit from this grant?
Users of WannaBet will benefit from the ability to use rETH in their bets.
Work
Who is doing the work?
The work is being done by limes.eth and ncale.eth.
What is the background of the person(s) doing the work? What experience do they have with such projects in the past?
We are a duo that works on apps such as wannabet, Jellybeans.wtf and opgovscore.com. We have experience in developing and maintaining blockchain-based applications.
What is the breakdown of the proposed work, in terms of milestones and/or deadlines?
We have already integrated rETH into WannaBet. The integration has been completed and is currently in use.
How is the work being tested? Is testing included in the schedule?
The integration has already been tested and used for 109 bets, demonstrating its functionality and reliability.
The largest bet on the platform is bet 74. It’s a bet of 0.9 rETH on the release date of ENS v2. The use of rETH is estimated to yield the winner an extra $226 over the period.
How will the work be maintained after delivery?
We will continue to maintain the WannaBet platform, including the rETH integration, as part of our ongoing development efforts.
Costs
What is the acceptance criteria?
The integration is already live and functional, with 109 bets using rETH completed.
What is the proposed payment schedule for the grant? How much USD $ and over what period of time is the applicant requesting?
We are requesting a retroactive grant of $2000 USD for the completed integration.
Is the applicant requesting RPL or LUSD?
We are requesting LUSD.
How will the GMC verify that the work delivered matches the proposed cadence?
As this is a retroactive grant for work already completed, the GMC can verify the integration by checking the WannaBet platform and confirming the functionality of rETH betting.
What alternatives or options have been considered in order to save costs for the proposed project?
We considered integrating different LSTs but decided against it in favor of rETH to support decentralization while choosing a popular coin.
Conflict of Interest
Does the person or persons proposing the grant have any conflicts of interest to disclose?
No conflicts of interest to disclose.
Will the recipient of the grant, or any protocol or project in which the recipient has a vested interest (other than Rocket Pool), benefit financially if the grant is successful?
No, there are no additional financial benefits beyond the grant itself.