Cancelled

JBP-154: LI.FI x Juicebox Governance Proposal

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Anon

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21

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Title: Juicebox x LI.FI
Author: Mark Murdock, biz dev + research at LI.FI
Date: 4/18

Goal:

Implement LI.FI’s SDK into Juicebox to facilitate cross-chain deposits.

Abstract:

Juicebox is the premier web3 fundraising tool. However, as it currently stands, Juicebox only allows users to deposit ETH or USDC.

Most crypto users have funds spread across many chains. Restricting users to ETH on Ethereum mainnet requires a very annoying set of activities, including (but not limited to):

  • bridging to Ethereum from another chain
  • swapping their bridged token to native ETH
  • transferring ETH to Juicebox to deposit

This process usually takes at least three user decisions and roughly 12-15 clicks.

This is a lot to ask, and could potentially turn away users who would have participated in a Juicebox fundraising campaign if other tokens were accepted.

We believe that LI.FI could create a 10x better user experience for Juicebox.

LI.FI Pitch/Solution:

LI.FI is a Cross-Chain Bridge and DEX aggregator. Implementing our SDK will enable Juicebox’s users to complete cross-chain, any-2-any swaps - in just a couple of clicks - all inside the Juicebox dApp. They will never have to leave the app to use bridges or DEXs. In essence, LI.FI is a single interface for bridging and swapping.

  • LI.FI facilitates transactions across Ethereum, Optimism, BNB Chain, Gnosis, Polygon, Fantom, Moonriver, Arbitrum, and Avalanche.
  • We have integrated some of the biggest names in the bridging space, including Connext, Hop, cBridge, Multichain, Biconomy, Optimism bridge, and Polygon bridge.
  • Furthermore, our smart contracts feature DEX integrations with 1inch, Uniswap, SushiSwap, ParaSwap, OpenOcean, DODO, 0x, HoneySwap, PancakeSwap, SpookySwap, and ViperSwap.

With the LI.FI SDK, Juicebox would be able to accept any token from any chain on its front-end and complete a swap to ETH on the backend in just one-click from a user. And, once our SDK is integrated, Juicebox would never have to worry about adding more bridges or DEXs – LI.FI devs will handle that.

For more information about the LI.FI:

Proposal:

We propose that Juicebox integrates LI.FI any-2-any swaps to enable transfers between networks.

This will help unlock the full potential of Juicebox for two reasons:

  • more token deposit choices could lead to more deposits from users
  • having LI.FI already integrated will make future cross-chain plans easier to implement

For Juicebox users, this proposal is helpful because:

  • users will be able to deposit any token from any chain into Juicebox
  • users will not have to leave Juicebox to find bridging or swapping solutions

LI.FI is committed to helping Juicebox integrate our SDK with the least amount of developer burden possible. LI.FI will help make this integration happen at no cost to the Juicebox community.

This is a win-win. LI.FI gets to partner with the premier web3 fundraising dApp, while Juicebox’s cross-chain potential is unlocked.

Risks:

With a LI.FI integration, the following items are risks:

  • smart-contract vulnerability (despite LI.FI being audited)
  • bridge or DEX failure (as we are an aggregator, if all bridges/DEXs shut down, so does LI.FI)
  • lack of interest from Juicebox users

Copyright and related rights waived via CC0.