reflexer-labs/geb

RAI x UMA Challenge

stefanionescu opened this issue · 6 comments

stefanionescu commented

Prize

$2000 (in ETH)

Challenge Description

RAI is a non pegged stable asset that is minted against ETH. As opposed to other stable assets which are pegged to one specific value, RAI has a floating “peg” (called the redemption price) that changes according to market forces. The redemption price is changed every second by what we call the redemption rate. Both the redemption price and the redemption rate are stored in a smart contract called the Oracle Relayer.

For this challenge, you’re invited to build a synthetic asset tracking the Kovan RAI redemption rate movements using UMA. Note that the redemption rate can be positive or negative.

We have docs about the Oracle Relayer contract here. You can see the Kovan addresses for UMA’s contracts here. Entrants can join our Discord to talk through their submissions in the #development channel. You should also join UMA’s Discord channel in case you have questions about working with their protocol.

Important Consideration

For this challenge, you must test your solution using Kovan RAI.

Submission Requirements

Your project must be deployed on Kovan. Your project must also have an open-source license.

Submission Deadline

15th of March

Judging Criteria

  • Level of technical implementation (25%)
  • Kovan integration and testing (75%)

Winner Announcement Date

The submission will be reviewed between 15th - 19th of March 2021. The payout and public announcement of the winner will occur before 22nd of March 2021.

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

This issue now has a funding of 1.3273 ETH (2000.03 USD @ $1506.84/ETH) attached to it as part of the reflexer-labs fund.

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work has been started.

These users each claimed they can complete the work by 1 day, 7 hours from now.
Please review their action plans below:

1) javipus has started work.

  • Understand UMA framework
  • Develop asset logic
  • API plumbing to listen to Oracle Relayer
  • Test, test, test
  • Deliver
    2) sevak-crypto has started work.

I will be working on this, for the next 10 days and hopefully complete the task
3) noahfigueras has started work.

I'm down for a challenge, I already started working in my solution!!
4) ashutoshvarma has started work.

  • Design UMA EMP and bots

  • Test locally

  • Deploy on kovan and test
    5) sladecek has started work.

  • Study RAI and UMA docs.

  • Develop RaiPriceFeed and price model.

  • Test deployment on Kovan - EMP parametrisation, minting. Bot configuration and test.

Learn more on the Gitcoin Issue Details page.

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 1.3273 ETH (2354.76 USD @ $1873.7/ETH) has been submitted by:

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 1.3273 ETH (2478.83 USD @ $1867.58/ETH) has been submitted by:

  1. @sladecek
  2. @ashutoshvarma

@stefanionescu please take a look at the submitted work:

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

The funding of 1.3273 ETH (2545.42 USD @ $1919.57/ETH) attached to this issue has been approved & issued to @ashutoshvarma.

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

The funding of 1.3273 ETH (2545.42 USD @ $1919.57/ETH) attached to this issue has been approved & issued to @ashutoshvarma.