Free TON

Contest: stTON TIP-3 implementation

Background

Free TON is a pioneer in sustainable decentralization solutions and was the first to introduce the decentralized pool (“DePool”) smart contract, i.e., liquid staking, which is a method that separates the business of validation from ownership of TON tokens and voting rights. Once the DeFi ecosystem in Free TON began to take shape with a TON-ETH bridge and DEX solutions coming into production, the time to launch a solution for wrapping DePool staking rights into a separate token is at hand – the stTON, which will be used as one of DeFi’s assets.

Contest dates

Submission period: May 20, 2021 00:01 UTC - June 3, 2021 at 23:59 UTC

Voting period

10 days

General requirements

The solution has to introduce TIP-3 wrapped DePool staking rights as well as an architecture description of the solution.

DeBot for DePool/stTON management should be part of the solution.

A solution should be committed to the Free TON community repo in accordance with the following document - GitHub - freeton-org/readme.

Evaluation criteria and winning conditions

  • Contestants must prepare an online presentation of their solution at a time that is convenient and agreed upon with members of the DeFi sub-governance. Solutions should include tests with clear instructions.
  • In case a test fails to cover certain scenarios, jurors can develop their own tests; however, in the event that jurors have to create tests, the contestant submission will be scored lower.

Rewards

Only submissions with an average score equal to or more than 6.0 can receive a reward.

  • 1st prize 30 000 TONs
  • 2nd prize 20 000 TONs
  • 3rd prize 10 000 TONs
  • 4-10th prize 5 000 TONs

Disclaimer: In the event that there are less winning submissions than available prize categories, any unclaimed prizes are hereby void and not subject to receive tokens.

Fair play

As per Procedural remarks on contests.

Procedural remarks to jurors

As per Procedural remarks on contests.

Jury rewards

As per Procedural remarks on contests.

Governance rewards

As per Procedural remarks on contests.

Procedural reminders to all contestants

As per Procedural remarks on contests.

8 Likes

is it an analogue of the LP token on Uniswap?

2 Likes

Does it mean that only with help of this token I will be able to withdraw stake from depool back?

1 Like

No, it is like stETH by Lido

No, it will be an additional option, which makes your stake in depool liquid, so that you will be able to transfer your stake in depool without withdrawing funds from it

2 Likes

I propose to increase the reward for the 1st place in the expense of the remaining up to 50k:
1st place: 50k
2nd place: 15k
3rd place: 9k
4-10: 3k

Because the technical task is very sophisticated and it’s better to get 1 operational solution rather than 10 mediocre

still have working analogues?

Beautiful, it means that staking will become move profitable and attractive, in combination with Rust Cup DePools I would say - super attractive

I strongly disagree. I think the amount given will not change the quality of the result, so giving too much to the first one will not give a better solution. On the contrary, if there is not enough for the other ones, you will get fewer contestants and the risk of lower solutions…

Final version

Contest: stTON TIP-3 implementation

Contest dates

  • Submission period: 2 calendar months after approving this proposal in the governance interface;
  • Judging period: 2 weeks after the end of the submission period.

Motivation

Free TON is a pioneer in sustainable decentralization solutions and was the first to introduce the decentralized pool (“DePool”) smart contract, i.e., liquid staking, which is a method that separates the business of validation from ownership of TON tokens and voting rights.

As the DeFi ecosystem in Free TON began to shape with a TON-ETH bridge and DEX solutions coming into production, the time has come to launch a solution for wrapping DePool staking rights into a separate stTON token.

General requirements

  • The solution has to introduce TIP-3 wrapped DePool staking rights and an architecture description of the solution.
  • DeBot for DePool/stTON management should be part of the solution.
  • A solution should be committed to the Free TON community repo per the following document - GitHub - freeton-org/readme.

Fair play

As per Procedural remarks on contests.

Evaluation criteria and winning conditions

Hard criteria

  • Create a fungible TIP-3 token contract that will mint stTONs against TONs deposited in a formally verified DePool contract using a transfer function of the DePool;
  • Support wrapping all types of stakes for which transfer function is allowed;
  • Develop different mechanisms for managing and controlling stTONs, including but not limited to governance tokens, vesting tokens, etc.;
  • Develop a DeBot for management of stTONs (issuance and redeem);
  • Include clear testing instructions.
    • If proposed tests fail to cover specific scenarios, jurors can develop their own tests; however, in that case, jurors may score the contestant submission lower.

Soft criteria

  • Prepare an online presentation of the solution and, optionally, present it at a time that is convenient and agreed upon with members of the DeFi sub-governance;
  • Detailed and easily understandable charts explaining the architecture and business processes;
  • Brevity;
  • Mostly everyday English to facilitate understanding.

Artifacts

  • Source code published in the FreeTON repository per aforementioned instruction;
  • Link to documentation at Github/Gitlab or another open repository, with the obligatory backlink to your submission in the repository’s README.

Rewards

Only submissions with an average score equal to or more than 6.0 can receive a reward.

Place Prize, TON
1 90,000
2 70,000
3 40,000
4 30,000
5-10 10,000

Disclaimer

If there are fewer winning submissions than available prize categories, any unclaimed prizes are considered void.

Procedural remarks to jurors

As per Procedural remarks on contests.

Jury rewards

As per Procedural remarks on contests.

Governance rewards

As per Procedural remarks on contests.

Procedural reminders to all contestants

As per Procedural remarks on contests.