Synopsis#

State what the proposal does in one sentence.

Allocate a total of $18,000 for JuiceTable (TokenTable) team to co-develop Revnet with Revnet Research Group across three check marks, delivering token unlocker contract and telegram bots tailored to project creators and contributors on Revnet. 

Motivation#

What problem does this solve? Why now?

Thesis 1: Integrating JuiceTable Token Unlocker Contract on Revnet

Revnet introduced an innovative approach to a revenue-sharing network, incentivizing various participants to grow with the network. However, we believe, as JuiceTable originally proposed, that a pay-over-time or vesting feature, can greatly improve the network health and investor confidence. 

In traditional business, different vesting schedules were implemented to incentivize stakeholders, including founders, investors, and employees, to “stay longer” in the business. Therefore, instead of a lump-sum payout in the beginning, stocks are distributed over a period of time to prevent selling pressure from stakeholders, or lack of motivation for founders. Token unlocker smart contract aims to address this issue. 

Possible integration leads to the possibility of the following three scenarios:

• When founders redeem their tokens for eth, partially or entirely, they will receive eth through a certain unlocking schedule.
• When investors redeem their tokens for eth, partially or entirely, they will receive eth through a certain unlocking schedule.
• When customers redeem their tokens for eth, partially or entirely, they will receive eth through a certain unlocking schedule. 

Various types of participants can have different unlocking schedules due to the difference in their stakes and potential impact it can cause for the entire network.

JuiceTable originated from 2023 BuildGuidl x Juicebox hackathon with a goal to address the issue of lacking vesting capability for existing Juicebox Protocol. Now, thanks to the great composability and flexibility of Revnet, we would like to make it a reality and allow our customized unlocking schedule to actually benefit the innovative Revnet protocol.  

Thesis 2: Build a frontend for Revnet on Telegram

**What is Telegram Bot? **

Chatbots on Telegram have become a new trend in crypto trading and adds powerful features onto the already popular messaging app Telegram among crypto communities. Mostly, successful telegram bot offers a super user-friendly alternative to existing decentralized finance (DeFi) applications.

Tapping into the 800 million monthly active users on Telegram, in which many of them are regular crypto users, these bots gain tremendous amounts of traction. According to Binance Research, user metrics of Telegram bots hit a record high in July, with over 6K unique daily users. Daily trading volume via Telegram bots reached a record high on July 23, 2023, exceeding $10M. Till today, Banana Gun, one of the most used crypto trading bot, is one of the largest gas guzzlers on ethereum. 

Telegram Bot for Revnet (and potentially Juicebox)

We all love Juicebox Protocol for its openness, its vibe, and most importantly, its battle-tested smart contracts for projects to create and manage crowd-fundraising using crypto. Now, as we are deep into the bear market, we see a downward trend for the usage of Juicebox Protocol. This phenomenon can lead to a decrease in the popularity of Juicebox among different crypto communities, and also a decline in the protocol revenue, mainly from the membership fee when users withdraw funds from their treasury. 

However, with telegram bots simplifying the onboarding and contributing process, we might be able to change that. 

Increased Access for Project Creators 
Juicebox Protocol can help people raise funds for different purposes. Yet, many of them may not know how to use it. For example, for those who come from less privileged areas, they might have very limited access to desktops and thus it is impossible for them to create a project on Juicebox. Therefore, a mobile-first approach with telegram bot can be very important to bring them onboard to Juicebox Protocol and hopefully help them with their fundraising needs. Thus, a bot can help users easily create a project on their phone using telegram. 

Better User Experience for Contributors 
For contributors, a bot can help them create or import their wallets to facilitate the process of fund transfer. Also, project creators can easily share their projects to different group chats, channels and everything, helping contributors discover new active projects. With the trading bot feature “auto sniping” new Juicebox projects, we might be able to bring back the old days. 

JuiceTable team

We are a team of four currently building the TokenTable protocol. We are already pretty excited about this idea, as proven by the Buildguidl Hackathon earlier this year with our demo on JuiceTable. Now, with the deployment of Revnet, we would like to make this vision come true. 

As to the telegram bot development, we already have extensive experiences making telegram bots. Please refer to our sister product EthSign to see how you can view and sign documents using telegram bots. Feel free to try on ethsign.xyz and link your telegram handle with your wallet or check out a demo video here. 

The team consists of the following four of us:

Claire: Product and Design Queen
Jack: Smart Contract Magician
Jordan: Frontend Wizard
LJ: Project Manager

Specification#

How exactly will this be executed? Be specific and leave no ambiguity.

For telegram bot, we will start with developing a telegram bot for the Revnet. Once we get more familiar with the settings, we will develop a generic one for Juicebox Protocol. 

For the JuiceTable unlocker contract, we will work with the Revnet team to integrate with the existing contract design. Once we get more familiar with the settings, we will deploy the smart contract to L2s.

Our development team can assist with other development needs when the Revnet team sees fit. 

Rationale#

Why is this specification appropriate?

This specification is appropriate because we have done extensive research on these topics and already communicated with the Revnet team.

Risks#

What might go wrong?

We are pretty confident with the expected delivery. The risks might be a delay of delivery due to holidays. The payout is event-triggered so if there is a delay in delivery, there can be a delay of payout. 

Timeline#

When exactly should this proposal take effect? When exactly should this proposal end?

Payout #1 - Sprint 1 Detailed Planning (2 weeks)

Weekly check-in with Revnet team

**Deliverables: **

• Telegram Bots
  Figma Wireframes 
  Product documentations
• Unlocker Contract
  Requirement document 

Payout #2 - Sprint 2 Product Development (2-3 weeks)

Weekly check-ins with Revnet team

Deliverables:

• Telegram Bot development
• Unlocker Contract Integration with Revnet

Payout #3 - Sprint 3 Testing and Deployment (2 weeks)

Weekly check-ins with Revnet team

Deliverables:

• Telegram Bot active for Revnet
• Unlocker active for Revnet
• Product docs, marketing material published
• Presentation on Juicebox TownHall Meeting