Bitfinity Network (EVM) Grant Program

Developers
1

Overview

Bitfinity Network is a Cross-Chain EVM with smart contract extensions. Leveraging the Internet Computer’s unique capabilities, devs have the potential to create groundbreaking projects across various sectors, from DeFi and prediction markets to voting systems and cross-chain communication solutions.

Benefits

  • Open-Source Adaptation: supports Solidity smart contracts and tooling (Truffle, Hardhat, Remix etc) out of the box; compatible with Metamask!
  • Optimized Performance: the efficient virtual machine rivals numerous Ethereum Layer 2 solutions, ensuring that you can build and deploy your projects with unparalleled speed and efficacy.
  • Outcalls Unleashed: Replace oracles with the Internet Computer’s (IC) HTTP outcalls
  • Seamless Integration: Connect with Bitcoin (and Ethereum)
  • Boundless Scalability: optimal transaction throughput and cost-efficiency with Bitfinity Network’s EVM multi-canister architecture
  • Comprehensive Support and Resources: our team has been working on a wealth of resources and documentation

Links

Website: http://bitfinity.network
Dev docs: https://docs.bitfinity.network/
Solidity examples: GitHub - infinity-swap/bitfinity-evm-examples: A boilerplate for sample DApps/Ethereum contracts on Bitfinity EVM
Blog: https://www.blog.infinityswap.one/
Bitfinity wallet: https://wallet.infinityswap.one/
Discord: Bitfinity Network
Ecosystem page: https://bitfinity.network/ecosystem
Twitter: https://twitter.com/bitfinitynet

Rewards

To kickstart the ecosystem, we will be awarding the following rewards to developers. Please make sure to join the discord channel and introduce yourself in the EVM channel to get started (Bitfinity Network):

  • Fork grants with $6k
  • Partnership grants worth $25k

We are confident that this Grants-Program will connect us with some of the very best talent in the ecosystem and will kickstart exponential growth of DeFi on the EVM and IC chains. If you have any questions about the promotion/event/hackathon, please feel free to reach out to us through the Discord channel or our website. Good luck to all participants!

Project Ideas and Suggestions

Some Ideas for Developers Building on the Bitfinity Network. Projects marked with a single asterisk are fork grants, and those with a double asterisk are partnership opportunities. We are keen to hear what project you would be interested to fork, and are open to many ideas. Please see a more expansive list of DeFi applications at: https://defiprime.com/

NFT marketplaces *

Create a next-generation NFT marketplace. By leveraging Bitfinity’s EVM, these platforms can benefit from faster transactions, enhanced security, and cross-chain multi-asset support. Here are some platforms:

Opensea is one of the best known NFT marketplaces. NFT images can be stored as URLs on the IC for a fully decentralized experience.

More recently there has been interest in platforms that support advanced trading features for NFTs and resemble a more traditional exchange. As an example, see Tensor on Solana, which was inspired by a similar project on Ethereum.

AI Trading Agents **

We can build AI agents into canisters to improve the liquidity provisioning experience. Decentralized liquidity providers could dynamically adjust the liquidity positions using AI, which cannot be run on Ethereum.

DEXs and Margin Trading (*/**)

Ethereum has a large number of DEXs that can be deployed with different advantages:

  1. Uniswap V3 offers capital efficiency *
    GitHub - Uniswap/v3-core: 🦄 🦄 🦄 Core smart contracts of Uniswap v3

  2. GMX (leverage/ perpetuals) **

  3. Contracts - GMX

  4. Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.

The Bitfinity team would be very interested to see a deployment of a DEX that enables margin trading on the EVM. This would enable margin-trading with CK-BTC tokens and other cross-chain tokens that make their way to the EVM, which opens up huge opportunities for community development. We would recommend this project to a highly competent team as the use of oracles will involve writing code for IC-based canisters that act as oracles.

Lending and Borrowing Platforms (**)

With the advent of CK-BTC and the huge amounts of liquidity untapped for DeFi, lending and borrowing platforms are a huge opportunity for developers looking to build projects on the Bitfinity Network EVM. Some popular options on Ethereum are:

  1. AAVE Aave · GitHub
  2. Liquity GitHub - liquity/liquity: Decentralized Borrowing Protocol

Borrowing and lending applications will be somewhat challenging to fork due to the need to set up a canister that can post data to the EVM, essentially acting as an oracle. This will require the developer to be somewhat familiar with how to set up and write canister code on the IC.

Decentralised Oracles Platform (**)

We would love to see a set of tools or website that makes it easy to launch your own decentralized oracle. This would use the IC’s canister infrastructure and HTTP outcalls to retrieve data from the web in a decentralized way and then post this data to the EVM. We’d be looking for a project that can create libraries that makes this much easier for other users to spin up their own oracles. The platform would need to have well hosted documentation, so that other developers can easily use these features and any oracles that have been set up.

NFT / ERC-20 Bridge **

Work with our team to help deploy your very own cross-chain bridging solution, targeting a chain or chains of your choice. Users will be able to bridge their favorite ERC-20 tokens or NFTs to the EVM. We are looking for a highly competent team to support this feature. We are internally developing the code for an ERC20 bridging solution, which can be expanded upon to support NFTs. This is a great opportunity to work with the Bitfinity team and maintain a valuable ecosystem project. By developing these solutions, users can easily access and interact with multiple blockchain networks, improving the overall user experience and encouraging the growth of DeFi and other decentralized applications. Here is an example of a front-end that can be forked: GitHub - aurora-is-near/rainbow-bridge-frontend: 🌈 Send ERC20 tokens from Ethereum to NEAR

DAO Governance *

Create libraries that allow solidity contracts to be controlled and upgraded by a Chain-Key DAO. The library would need to have well hosted documentation, so that other developers can easily use the features.

Decentralized Prediction markets *

Create decentralized prediction markets utilizing IC’s HTTP outcalls: Leverage IC’s HTTP outcalls to build prediction markets that tap into real-time data for accurate forecasting. Popular projects doing this on Ethereum include the following: Best Decentralized Prediction Markets on crypto blockchains

Library to interact with the Bitfinity EVM in Motoko/Azle/Rust *

IC agents need to register private keys before interacting with the EVM. Create libraries that make this simple in Motoko, Azle or any of the languages that the IC supports. This will be similar to: GitHub - rocklabs-io/ic-web3: Ethereum RPC client for canisters on the IC , but with extra functionality to register the IC agent’s public and private keys so that they can interact with the EVM. See the documentation here for more info: Overview | EVMC Documentation

30 Likes
3

Very cool work by the BitFinity team! Could be the break that the IC needs :slight_smile:

5 Likes
4

Whoa! Terrific opportunity from Bitfinity. Good day team. :sunny:
Our KISMI app Devs are curious about building over EVM.
They are asking for some docs or examples which are built over EVM. Or just the links that already were mentioned? :thinking:

4 Likes
5

I’m crazy impressed with the work that’s gone into this. Honestly stunned!

Hats off to the bitfinity team. Keep going guys - you’re doing great things!

4 Likes
6

There’s plenty information which can get you started building on the Bitfinity, we have linked the sections that you need to get started, We have the docs and the examples, make sure to check it out.

5 Likes
7

This is amazing. Thankyou very much for your hard work. Impressive

1 Like
8

Even more so when you consider the cross-chain integrations that are incoming soon. Say bye bye to ChainLink.

5 Likes
9

First they ignore you, then they laugh at you, then they fight you, then you win :slight_smile:

3 Likes
10

Whats your view/strategy on getting stables on the IC?

11

Would love to see it, I can see two options:

(1) We are building a bridge between EVMs and the IC-EVM.
(2) Someone could deploy the equivalent of Maker-Dao on the IC, which would be an over-collateralised stable in either the Bitfinity native token, BTC or ICP.

I think 2 should be a fairly easy lift. We just need oracles to communicate with the IC. And we are developing a prototype members of the community could easily run with.

2 Likes
12

review programming software

13

I presume you did already but have you guys calculated the expected/predicted cycle cost, if you had, lets say, the same daily trading volume as Uniswap?

Can imagine it would start getting quite costly… no?

14

hey Sal, we don’t have the figures to hand. From what I can remember it’ll be a lot cheaper even with the daily cycle costs. We know daily cycle costs maybe reach a max of a few dollars a day with heartbeat running every second. Much more to be made from protocol fees.

3 Likes
15

Is there a good quick technical overview of the canister architecture of the EVM? I looked at the docs but they tell me more about what can be done with it, not so much how it works under the hood. I understand it’s REVM compiled to a canister. But is it one canister or is it a multi-canister architecture? And are there external, centralized components required? I suppose there must be, or? An overview with a diagram would be helpful that shows how information flows starting from MetaMask.

3 Likes
16

Hi Timo, slightly out-of-date but this diagram gives you an idea of the architecture. Understanding the Ethereum Virtual Machine Canister (EVMC): A Beginner’s Guide | by Managing Editor InfinitySwap | The Internet Computer Review | Mar, 2023 | Medium

It’s mainly a single canister architecture. But we have bridging and oracle canisters too. Ic agents can also register an Ethereum address to interact with the EVM.

There are no centralised components in the core, although historical blocks are kept on a centralised server.

Here is a more up-to-date architectural diagram. The modified Ethereum client exposes more of the tracing API which is used for block explorers. Historical blocks are sent here.

13
131240×768 82.4 KB

4 Likes
17

Thank you. I see, the JSON RPC API is served directly from the canister so you don’t need a gateway there.

I am interested in the performance of the signature verifier. What ECDSA library is the source code based on? Have you measured cycles per signature verification and achievable verifications per second?

Did you have to do any extra work to provide the EVM precompiles?

2 Likes
18

I’ve submitted the partnership form and look forward to working on this!

1 Like
19

Why do you say these cross-chain integrations will be superior to Chainlink?

20

No validators needed. You can setup your own on the IC, without creating a network of validators.

21

No validators needed. You can setup your own on the IC, without creating a network of validators.