Grant Request by Atomic Bridge

Submission Date

October 30, 2021

Project Links

Linkedin: www.linkedin.com/company/gambaru-srl/

Project Description

We combine a Liquidity Pool on Polygon with our bridge from Ethereum to boost the transition from ETH to MATIC.

Amount requested

30000 USD

Milestones

**1)**Upfront payment to start the development of the connection between our bridge smart contracts and Polygon.
The outcome will be a working version of the bridge from Ethereum to Polygon without the incentive mechanism.
Resources employed:
3 dev for 2 month - $ 15.000

**2)**Development of the liquidity and staking reward system.
The outcome will be a working version of the incentive mechanism build in the
bridge from Ethereum to Polygon.

3 dev for 2 month - $ 15.000

We want to onboard 5 good quality projects in polygon ecosystem. Each project would qualify for 10k USD for their insurance reserve pool’s reward. Such reward would help them to bootstrap enough reserves to backup the insurance policy.

3 Likes

This project seems great addition for polygon integration… There are few already existing solutions for cross chain… However growing chain activity with multiple options always help bring adoption and greatly advantageous to the user base

3 Likes

Hello and thanks for your feedback.

Our approach is unique:

The problem we will like to solve:
There are many projects on Ethereum that suffer from the too high fees of the network. Even though a transaction should be made anyhow, the expense of the fees can deter people from using a bridge.

The solution is a farming service provided by the token’s project.

What is the mechanism behind it?

  • Tokens are transferred from Ethereum to Polygon through the bridge.

  • On Polygon, you get an extra LP Token.

  • When the LP Token is returned to the Ethereum blockchain, it will be burned.

  • You will mature gain from farming as long as you continue in staking.

  • The farming reward is provided directly by the project behind the token, which is interested in supporting the shift to Polygon in order to revitalize its community’s trading.

  • The project contains a dashboard where the farming values can be adjusted and the progress monitored.

Our project website is: https://atomicbridge.io/

1 Like

Grant Request Status

DAO Vote