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BAHAMUT GRANTS

The Bahamut Foundation Grants Program provides milestone-based support and funding to organizations that aim to decentralize, grow, and support the Bahamut network, and advocate the world of web3. 

Learn More

Application Process and Requirements

Priority List of Funding

Futures and Margin trading modules for CEXes 

BAHAMUT ARENA
Quick Links

General Guidelines

Bahamut Arena Priority List

Apply to Bahamut Arena

General Requirements for all Brawl Categories

Application Process and Qualification

Apply to Bahamut Arena

General Guidelines

Bahamut is a public, permissionless, open-source blockchain, looking to bring the new era of the internet to the masses.  Bahamut utilizes a new type of consensus mechanism - Proof of Stake and Activity - which takes into account the gas usage of a validator-deployed smart contract when distributing the chance to become a block producer in a future epoch, resulting in substantially larger network rewards for those validators. 

The PoSA consensus was built with the mass adoption of Web3 in mind, providing individuals and businesses with a resource of value that can be utilized regardless of industry.

Like the mythical creature Bahamut that carries the world on its back, Bahamut Foundation is looking to become a pillar in the future of the internet and provide a suitable environment for projects to build and thrive in, while working towards a common goal.  

In the same spirit, the Bahamut Foundation is looking to support projects that follow the same passion, generate value for their users, bring new users into the world of Web3, and lay strong foundations for others to learn from and build upon.

Anyone is welcome to apply for a grant including individuals, businesses, governments, non-profits, academics, researchers, and universities.

We recommend starting by viewing the Priority List of Funding Initiatives and Bahamut Arena first. These lists are comprised and updated by the Bahamut Foundation and represent spheres, areas, or DApps that the Foundation is currently interested in funding based on the needs of the network and its infrastructure. 

However, this doesn't mean that you shouldn't apply for a grant if your project doesn't fall under any of the Priority categories, since those are but a fraction of all the ideas that lead towards the greater goal of mass adoption of Web3. 

Priority List of Funding Initiatives

Futures and Margin trading modules for CEXes

Development timeline – 6 months (4 months implementation, 2 months polish and integration). 

Grant Amount – 350,000 FTN

Develop and implement a mechanism for futures and margin trading on a centralized cryptocurrency exchange. The development should be oriented towards the use of a web application for trading.

Description
The futures trading module allows users to engage in the buying and selling of futures contracts. These contracts represent agreements to purchase or sell assets at predetermined prices on specified future dates. Traders access a diverse array of futures contracts linked to commodities, cryptocurrencies, stocks, indices, and more. The module provides essential tools like real-time market data, advanced charting, and risk management features to assist traders in making informed decisions.

The margin trading module enables users to borrow funds against their existing capital. This module encompasses a broad range of assets such as futures contracts, stocks, cryptocurrencies, and derivatives. The module sets margin requirements, ensuring users maintain a minimum level of collateral to cover potential losses, while also providing risk management tools like stop-loss orders to mitigate excessive risks.

Expected Outcome
A functional and stable futures trading system ready for client use.

Testing
Development and execution of tests, including modular, integration, and system testing.

Coding Language
Backend: Golang
Frontend: React

Documentation
Preparation of detailed technical documentation, including API descriptions, deployment instructions, and system usage guidelines.

Futures Trading Key Functionality:

  1. Trading Account
    • Create Trading Account: Traders should be able to create a trading account to limit funds for future trading.
    • Fund Transfer to Trading Account: Traders should be able to transfer a specific amount or the entire balance to their trading account.
    • Fund Transfer from Trading Account: Traders should be able to transfer a specific amount or the entire balance from the trading account for withdrawal.
    • View Transfer History: Traders should have access to a transfer history to/from the trading account for fund management.
    • View Trading Account PnL: Traders should be able to view the Profit and Loss (PnL) of their trading account.

  2. Review Chart:
    • Switch between Spot and Futures Mode: Traders should be able to switch between Spot and Futures modes to review the future market.
    • Comprehensive Pair Information: Traders should have access to detailed information about a trading pair, including various metrics such as last price, change, market index, 24-hour high/low, volume, and Trading View.

  3. Order Book:
    • Buy and Sell Orders: Traders should be able to place buy and sell orders on the order book.
    • Market Trade: Traders should be able to execute market trades.

  4. Order Creation:
    • Leverage Configuration: Traders should be able to set up leverage and define the maximum position leverage.
    • Long and Short Positions: Traders should be able to open long and short positions.
    • Min. Order Amount: Traders should be able to specify the minimum order amount for both long and short positions.
    • Taker/Maker Fee: Traders should be able to view and configure taker and maker fees.
    • Order Types: Traders should be able to place different order types, including limit and stop-limit orders.

  5. Trading History:
    • Review Trading History: Traders should be able to review their trading history, including open orders, order history, trade history, positions, position history, transaction history, and funding history.

  6. Open Order:
    • Open Long Position: Traders should be able to open a long position in futures.
    • Open Short Position: Traders should be able to open a short position in futures.
    • Advanced Order Types: Traders should be able to open positions using advanced order types, such as limit and stop-limit orders.
    • Take Profit Order: Traders should be able to open a Take Profit order in futures.
    • Stop Loss Order: Traders should be able to open a Stop Loss order in futures.
    • Leverage: Traders should be able to use leverage to open positions and maximize potential profit.
    • Instant PnL Tracking: Traders should be able to instantly track the Profit and Loss (PNL) of their open positions.
    • Position Closer: The system should be able to close position according to Stop Loss, Take Profit or Liquidation Orders.

  7. Admin Panel
    • Real-time Monitoring: Admins should have real-time monitoring of all user transactions, including trade executions, deposits, and withdrawals.
    • Risk Management Tools: Admins should have tools to assess and manage overall platform risk, including exposure to leveraged positions and potential financial losses.
    • Enable/Disable Trading Pairs: Admins should be able to turn on or off specific trading pairs to control asset availability on the platform.
    • Leverage Limits: Admins should be able to define minimum and maximum leverage limits for trading.
    • Minimum Order Amount: Admins should be able to set the minimum order amount for both buy and sell transactions.
    • Maximum Order Amount: Admins should be able to set the maximum order amount for both buy and sell transactions.
    • Configure Trading Fees: Admins should be able to configure trading fees, including taker and maker fees.
    • Liquidation Protocols: Admins should be able to specify conditions for triggering liquidation and the impact on user positions.
    • Handling Negative Balances: Admins should be able to define protocols for handling negative balances in user accounts.
    • Enable/Disable Trading: Admins should have the capability to temporarily enable or disable trading on the platform for maintenance or other operational reasons.

  8. Other Requirements
  9. Security

    • All sensitive user data, including passwords and personally identifiable information (PII), must be stored and transmitted using industry-standard encryption algorithms.

    Performance

    • Future contract operations latency < 0.5 seconds
    • Number of future contracts that are managed in a single point of time: 1000

    Market Change Response Time

    • The system should promptly respond to price changes and market trends in 1 second

    Scalability

    • The system must be designed to horizontally scale by adding additional instances of application servers to accommodate increased user demand.

Margin Trading Key Functionality:

  1. Margin Account
    • Create Margin Account: Traders should be able to create a Margin account to limit funds for margin futures trading.
    • Fund Transfer to Margin Account: Traders should be able to transfer a specific amount or the entire balance to their Margin account.
    • Fund Transfer from Margin Account: Traders should be able to transfer a specific amount or the entire balance from the Margin account for withdrawal.
    • View Transfer History: Traders should have access to a transfer history to/from the Margin account for fund management.
    • View Margin Account PnL: Traders should be able to view the Profit and Loss (PnL) of their Margin account.

  2. Review Chart:
    • Switch between Spot and Margin Mode: Traders should be able to switch between Spot and Margin modes to review the future market.
    • Comprehensive Pair Information: Traders should have access to detailed information about a trading pair, including various metrics such as last price, change, market index, 24-hour high/low, volume, and trading view.

  3. Order Book:
    • Buy and Sell Orders: Traders should be able to place buy and sell orders on the order book.
    • Market Trade: Traders should be able to execute market trades.

  4. Manual or Auto-borrow:
    • Auto-Borrow: Traders should be able to borrow crypto by placing auto-borrow orders.
    • Manual: Traders should be able to borrow crypto by placing manual orders

  5. Manual or Auto-repay:
    • Auto-repay: Traders should be able to repay crypto by placing auto repay orders.
    • Manual: Traders should be able to repay crypto by placing manual orders.

  6. Transfer Collateral:
    • Traders should be able to transfer collateral in or out of their isolated margin trading account to trade in quick margin mode. Only the current base and the quote currencies can be used as collateral.

  7. Margin Management:
    • Develop a robust margin management system to calculate and display user margins accurately.
    • Implement a liquidation mechanism to handle situations where a user's margin level falls below a specified threshold.
    • Integrate risk management tools, such as stop-loss orders and take-profit orders, to help traders control and limit potential losses.
    • Integrate with real-time market data feeds to ensure accurate pricing information for margin calculations.
    • Implement tools for analyzing historical margin data, liquidation events, and market conditions.

  8. Order Creation:
    • Leverage Configuration: Traders should be able to set up leverage and define the maximum position leverage.
    • Long and Short Positions: Traders should be able to open long and short positions.
    • Min. Order Amount: Traders should be able to specify the minimum order amount for both long and short positions.
    • Taker/Maker Fee: Traders should be able to view and configure taker and maker fees.
    • Order Types: Traders should be able to place different order types, including limit and stop-limit orders.

  9. Trading History:
    • Review Trading History: Traders should be able to review their trading history, including open orders, order history, trade history, positions, position history, transaction history, and funding history.

  10. Admin Panel
    • Real-time Monitoring: Admins should have real-time monitoring of all user transactions, including trade executions, deposits, and withdrawals.
    • Risk Management Tools: Admins should have tools to assess and manage overall platform risk, including exposure to leveraged positions and potential financial losses.
    • Enable/Disable Trading Pairs: Admins should be able to turn on or off specific trading pairs to control asset availability on the platform.
    • Leverage Limits: Admins should be able to define minimum and maximum leverage limits for trading.
    • Initial Margin: Admins should be able to define initial margin leverage for trading.
    • Maintenance Margin: Admins should be able to define maintenance margin leverage for trading.
    • Leverage Ratio: Admins should be able to define leverage ratio leverage for trading.
    • Liquidation Threshold: Admins should be able to define liquidation threshold leverage for trading.
    • Margin Calls: Admins should be able to define margin call leverage for trading.
    • Collateral Valuation: Admins should be able to define collateral valuation leverage for trading.
    • Minimum Order Amount: Admins should be able to set the minimum order amount for both buy and sell transactions.
    • Maximum Order Amount: Admins should be able to set the maximum order amount for both buy and sell transactions.
    • Configure Trading Fees: Admins should be able to configure trading fees, including taker and maker fees.
    • Liquidation Protocols: Admins should be able to specify conditions for triggering liquidation and the impact on user positions.
    • Handling Negative Balances: Admins should be able to define protocols for handling negative balances in user accounts.
    • Enable/Disable Trading: Admins should have the capability to temporarily enable or disable trading on the platform for maintenance or other operational reasons.
    • Risk Monitoring: Implement mechanisms to continuously monitor traders' margin levels and overall exposure.

  11. Other Requirements
  12. Security

    • All sensitive user data, including passwords and personally identifiable information (PII), must be stored and transmitted using industry-standard encryption algorithms.
    • The new functionality must be integrated with an existing Auth(user) service, which will be communicated to the builder.

    Performance

    • Future contract operations latency < 0.2 seconds.
    • Number of future contracts that are managed at a single point in time: 10,000.

    Market Change Response Time

    • The system should promptly respond to price changes and market trends in 1 second.

    Scalability

    • The system must be designed to scale horizontally by adding additional instances of application servers to accommodate increased user demand.

Bahamut Arena Priority List

Bahamut Arena initiative is a multi-winner contest that the Foundation hosts concerning spheres, areas, or DApps that it is currently interested in funding, based on the needs of the network and its infrastructure.

Brawl Category Countdown

Decentralized Exchange

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Decentralized NFT marketplace

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Decentralized Casino Game

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Multisignature Wallet

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RNG Oracle

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Decentralized Bridge

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Lending Protocol

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Yield platform

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Apply to Bahamut Arena

The Bahamut Arena encompasses a priority list of project categories that are being updated based on the current state of the network and its infrastructure. Each category is a brawl among participants who have a certain period and requirement list to adhere to, to win the contest. 

Each brawl has its tailored prize fund depending on the project category that will be paid out to all the participants who submit their project and fully comply with that category's requirements within the given timeline.

The Bahamut Arena smart contract will already have loaded the prize for each Brawl category, so applicants will be able to see what they are dealing with. Also, each applicant/participant will be added to the smart contract so that everyone can see how many applicants are currently participating in the given Brawl. 

General Requirements for all Brawl Categories

  • Applicants must create a fully functional product with a working front-end. 
  • Each product from each category is highly encouraged to have a distinctive feature/innovation/addition to the classic, well-known product, aka fork, on the smart contract level.
  • All smart contracts must be open-source and verified by the end of the deadline.
  • An existing or planned smart contract audit is highly preferable and will significantly boost the chance of getting selected for a brawl.

Below is the current list of brawls, prizes, and timelines:

Decentralized Betting Game

NUMBER OF PARTICIPANTS - 15 | PRIZE PER CONTESTANT - 13,000 FTN | TIMELINE TO COMPLETION - 1 MONTHS

Description:

A decentralized betting game is a type of gambling or prediction market application that operates on the Bahamut network, utilizing its decentralized nature and smart contract capabilities to offer a transparent, trustless, and secure betting environment.

Key Components:

  1. Smart Contracts for Trustless Operations:
    • Automated Betting: Smart contracts facilitate betting processes, allowing participants to place bets, set odds, and execute payouts automatically without the need for intermediaries.
    • Transparency: All betting conditions, rules, and outcomes are encoded in smart contracts, ensuring transparency and eliminating the possibility of manipulation or fraud.

  2. Tokenization:
    • Tokenized Betting: The Betting games use cryptocurrencies on the blockchain for placing bets.
    • Escrow Mechanism: Smart contracts hold bets in some form of escrow until the game's outcome is determined, ensuring fairness and preventing premature payouts.

BNS (Bahamut Name Service)

NUMBER OF PARTICIPANTS - 1 | PRIZE PER CONTESTANT - 30,000 FTN | TIMELINE TO COMPLETION - 2 MONTHS

Description:

The Bahamut Name Service (BNS) is a decentralized naming system built on the Bahamut blockchain. It serves as a user-friendly and human-readable naming infrastructure, enabling users to replace Bahamut addresses with easily memorable names. BNS allows the registration of domain names that resolve to Bahamut addresses, content hashes, and other metadata.

Key Components:

  1. Domain Naming System:
    • Human-Readable Naming: BNS allows users to register readable and memorable domain names (ending in .ftn) that can be associated with Bahamut addresses, smart contracts, decentralized websites, and other resources on the Bahamut blockchain.
    • Hierarchy and Structure: BNS must support a hierarchical structure with domains, subdomains, and labels, providing flexibility and organization.
  2. Components and Functionality:
    • Registrar: The BNS registrar is the smart contract responsible for domain registration. Users can bid on and register available domain names through the registrar contract, following an auction-based system.
    • Resolver: The resolver is another smart contract associated with each BNS domain. It links the domain to specific Bahamut addresses, content hashes, or other records, determining where the domain resolves on the blockchain.

  3. Features and Use Cases:
    • Address Resolution: BNS enables the resolution of human-readable domain names to Bahamut addresses, simplifying the process of sending and receiving transactions, tokens, or interacting with smart contracts.
    • Content Resolution: Besides addresses, BNS can resolve content hashes, allowing users to associate decentralized websites or IPFS content with BNS domains.

  4. Decentralization and Security Measures:
    • Decentralized Infrastructure: BNS must operate as a decentralized system, leveraging Bahamut blockchain’s consensus mechanisms and smart contracts to manage domain ownership and resolution.
    • Security and Ownership: Domain ownership must be secured by cryptographic keys, ensuring that only the rightful owner can manage and update the associated records for their domains.

Application Process and Qualification

Applicants are encouraged to fill out the Bahamut Arena application form and present their past projects and strengths that they think will help them qualify for the Bahamut Arena participation. 

Short-listed candidates from each category will further have a video chat with Bahamut Foundation representatives to complete their qualification criteria. Once selected, participants will receive an email confirmation, and their identity will be locked in the Bahamut Arena smart contract under the corresponding Brawl.

To submit the completed project, please send an email to [email protected] with the URL of the project, participation category, smart contract addresses, and a detailed description of how the project works. The email should be sent from the same address that was used for the application. All emails received before the countdown is finished will be considered valid, considering that the guidelines are complied with.

APPLY TO BAHAMUT ARENA

*If your project doesn’t fall under any Bahamut Arena category, you may still apply for a grant using the flow described below.

Bahamut Grant
Quick Links

Applicant Details

Application Process

Evaluation Criteria

Apply for Bahamut Grant

Applicant Details

To apply for a grant,  the applicants must be ready to provide the following information: 

First and Last name

Official email address

Telegram ID

Project name

Category (DeFi, Infrastructure, Gaming/NFT, DAO/DAO Tooling, Miscellaneous)

One paragraph summary

Team description / Co-Founders

Lead Investors / Other Investors

Fund-raising information

Post-Money Valuation / Fully Diluted Valuation of Each Round

Location of founding/base team

Pitch deck

Application Process

When submitting your application, be sure to specify why and how will it benefit the Bahamut network (e.g. Improve security, increase decentralization, improve infrastructure, open-sourced project, etc.)
 
If you're looking to apply for a large grant ($50,000-$100,000 and above) the process will be milestone-based. Suggesting project funding milestones is highly recommended. 
 
The Foundation team will review all applications as they come in, and contact applicants if more details are required, or set up a call to discuss certain aspects of the project. After the discussion, the Foundation team may propose ideas, changes, or improvements after careful consideration. 
 
The typical response time is within 2 weeks. 
 
All applicants will be notified via email regardless of whether they were chosen for a grant or declined. 

Evaluation Criteria

Bahamut Foundation welcomes all ideas connected to PoSA, Decentralization, and mass adoption of Web3. However, there is a list of criteria that all projects must comply with, in order to become eligible for a Foundation Grant. Here is the complete list:
 

  • Validator Set up - All grant receivers must set up and maintain an independent validator node and link their smart contract to generate activity based on gas spent. The stake amount will be provided to the applicant in case of being chosen for a grant, in addition to the grant amount.
  • Open-Source Project - All projects should be open-sourced and verified, allowing everyone to see and learn from them.
  • Value - There must be a clear value proposition for your project and either the Bahamut network, the infrastructure, or its users.
  • Execution - Proof that you and your team have the ability, skills, knowledge, and expertise to bring your ideas to fruition. 
  • Clear Use of Funds - We urge applicants to be thoughtful and have a clear plan on fund usage, and how much they will be requesting.

Grants are not to be considered as:
 
Personal Business Accelerator - Anyone is welcome to start their business on Bahamut. We would love to see organizations and individuals thrive with the help of PoSA. However, such projects typically do not carry large-scale value and will be excluded from the Grant Program.
 
Venture Capital - We currently do not offer grants as venture funding since these grants aim to improve the Bahamut ecosystem and enable projects that hold value to users to bring their ideas to life. 

Apply for Bahamut Grant

Apply for a Bahamut Grant and let's shape the future of the internet together!

Apply Now
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