Batch 23: Approved Grants

This grant funds the development and launch of Fractal, a first of its kind in Cosmos NFT fractionalization and tokenization platform built on Osmosis. Fractal allows for the conversion of NFTs into fungible tokens that can be traded or LPed on Osmosis. This is accomplished by allowing for whitelisted NFTs (for example, Bad Kids) to be deposited into a vault contract in exchange for fungible tokens representative of the NFT’s collection. The user flow will allow for deposits to take place from Stargaze or from Osmosis. Similarly, these fungible collection tokens can be purchased on Osmosis from liquidity pools and used to redeem NFTs from the vault contract. Because of this mechanism, the collection tokens should have a value roughly mapped to a collection’s floor price, and will allow for traders and market makers to participate in cyclical arbitrage to maintain pricing parity between the collection’s floor price and the price of the collection tokens. Creation of a Fractal DAO and token is uncertain, and these features are thus not scoped out as part of this grant, however, if a Fractal DAO token is launched the Osmosis community pool will receive 5% of the supply of the token. Milestone 1 = Delivery of vault contract and UI. The MVP will include the ability to deposit and redeem the initial whitelisted NFTs via the contract in exchange for the associated collection tokens; Milestone 2 = Delivery of an arbitrage dashboard that displays pricing of collection tokens relative to the associated NFT collection’s floor price in order to identify arbitrage opportunities; Milestone 3 = Delivery of a subsequent contract that allows users to lock and preserve specific NFTs for a given period of time, preventing them from being redeemed by others in the vault contract for a defined period of time. This will be useful in encouraging users with NFTs valued significantly above floor price to participate in the fractal product.

The scope of this grant is to create an analytical dashboard that visualizes the different information, data points, and statistics related to Osmosis’ new alloyed assets. When a user first lands on the dashboard site, they will see a page showing the list of alloyed assets that are currently live. The dashboard will include information such as the alloyed asset name, market cap/TVL, alloyed asset price, composition of the assets that currently make up the alloyed asset, and more. There will also be a section that explains what alloyed assets are, how they work, their purpose, and links to more information (forum post, contract repository, etc.); Milestone 1 = Alloyed asset details page for alloyed USDT on mainnet, Milestone 2 = Deploy the Alloyed list page, the group asset composition by bridge/issuer and Historical swap transactions