Free TON

Contest Proposal: Bitcoin/Bitcoin Cash↔FreeTON Bridge Design and Architecture

Contest dates

  • Warm-up period: TBC
  • Submission period: TBC

Short description

Prepare a detailed whitepaper for the inter-blockchain bridge between Bitcoin/Bitcoin Cash and FreeTON that will allow the fast and economically efficient bidirectional transfer of BTC, BCH and tokens on top of these blockchains (e.g. OMNI protocol).

Motivation

Interblockchain bridges (IBB) are a crucial part of the DeFi ecosystem. They allow the fluent flow of funds between blockchains to nourish other DeFi products like DeX and lending.

General requirements

Your submission should include:

  • The basic economic model and description of money flow in the system
  • The general technical architecture of the solution along with the proposed customer journeys
  • Detailed technical specification of the proposed implementation with the justification of the selected approach: smart contracts, integration layer, interfaces
  • Name and contact information of the contestant for communication (Telegram username, e-mail)

Your work and the proposed solution must be:

  • Original. It should not include more than 10% of other contestants’ works;
  • Implementable. Keep in mind the peculiarities and goals of FreeTON;
  • Consistent. Its elements should not contradict each other and the FreeTON Declaration of Decentralization;
  • Safe. It must ensure a due level of funds security;
  • Modern. Inspire by the leading market solutions.

Evaluation criteria and winning conditions

Hard criteria

  • Bitcoin/Bitcoin Cash Gate Script (BGC) securely accepting and releasing BTC, BCH, and tokens (e.g. OMNI protocol);
  • FreeTON Wrapper Contract (FWC) minting and burning wrapped tokens;
  • Interblockchain Oracle (IBO) ensuring communication between Bitcoin and FreeTON;
  • Decentralized Security Layer (DSL) ensuring protection from money stealing.

Artifacts

  • Google Doc with the whitepaper open for commenting and containing the backlink to the submission.

Soft criteria

  • Presentation of the team with proofs of expertise
  • Detailed and easily understandable charts explaining the architecture and business processes;
  • Brevity;
  • Mostly everyday English to facilitate understanding;
  • Readiness to participate in the implementation of the solution in the next stage.

Rewards

1 place……………………….….50,000 TONs
2 place……………………….…30,000 TONs
3 place………….………………20,000 TONs
4-10 place…………………….…5,000 TONs

Voting

  • Proficiency. Jury members who vote in this contest must have a solid understanding of the technology. Those jurors who don’t, should not vote or choose “Abstain.”
  • Avoiding conflict of interests. Jurors whose team(s), friends, or family members intend to participate in this contest by providing submissions lose their right to vote in this contest.
  • Voting scale. Each juror will vote by rating each submission on a scale of 1 to 10, or can choose to reject it if it does not meet requirements, or choose to abstain from voting if they feel unqualified to judge.
  • Feedback. Jurors will provide feedback on your submissions.
  • Invalid submissions. The Jury will reject duplicate, sub-par, incomplete, or inappropriate submissions.
  • Reward eligibility. Independent of the governance smart-contract implementation, only submissions which gained fulfilled the following criteria are deemed eligible to participate in the reward depending on their prize place:
    • Soft majority (50% + 1 vote) of jurors voted to accept such a submission. For the avoidance of doubt, if there are similar quantities of votes to accept and reject the submission (e.g., 5 votes for and 5 votes to reject), it is considered as rejected;
    • The submission passed the quality threshold of the work established at the level of 5 points of average score.

Jury rewards

An amount equal to 5% of the prize fund will be divided equitably between all jurors who vote and provide feedback based on their votes’ quantity and quality. Both voting and feedback are mandatory to collect this reward.

Governance rewards

An amount equal to 2% of the prize fund will be divided equitably between all governance members.

Procedural reminders to all contestants

  • Accessibility. All submissions must be accessible for the Jury to open and view, so please double-check your submission. If the submission is inaccessible or does not fit the criteria described, jurors may reject the submission.
  • Timing. Contestants must submit their work before the closing of the filing of applications. If not submitted on time, the submission will not count.
  • Contact information. All submissions must contain the contestant’s contact information, preferably a Telegram username by which jurors can verify that the submission belongs to the individual who submitted it. If not, jurors may reject your submission.
  • Content. The content published in the forum and the provided PDF file should not differ, except for formatting. Otherwise, jurors may reject the submission.
  • Well-formed links. If your submission has links to the work performed, the content of those links must have the contestant’s contact details, preferably a Telegram username, so jurors can match it and verify to whom the work belongs. If not, jurors may reject your submission.
  • Multiple submissions.
    • Each contestant has the right to provide several submissions if they contain different approaches to the contest problem’s solving. However, if works are not unique enough or differ just in insignificant details, jurors may reject such repeating submissions.
    • If the contestant wants to make an additional submission that overrides the one previously published, he must inform the Jury about this fact and indicate the correct revision to assess. In this case, only the indicated work will count. If the contestant hasn’t indicated the updated submission as the correct one, only the first one will count, the Jury will reject all the others.

Disclaimer

Anyone can participate, but Free TON cannot distribute Tons to US citizens or US entities.

4 Likes