xGov-198 - CompX - Auto-Compounding Farms

Governance xGov Proposals Pilot
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1

id: 197

period: 4

title: CompX - Auto-Compounding Farms

author: Kieran Nelson (@xxiled-plastic-cat)

email: kieran@compx.io

discussions-to:

company_name: CompX Labs

category: dApps

focus_area: Defi

open_source: No

funding_type: Retroactive

amount_requested: 75000

delivery_date: 2023-11-20

status: Final

Abstract

This is a retroactive proposal for impact delivered via CompX auto-compounding farms. These farms went live in 2023, and have been giving Algorand users a new way to earn higher yields from pools that they trust.

Team

Kieran Nelson - CEO/Founder at CompXLabs

Akingbesote Jesulonimi (Nimi) - Founder / Lead smart contract developer

Experience with Algorand

Kieran - 2.5 years working in the Algorand ecosystem across Algogator and CompX. Extensive experience with Algorand SDK and ecosystem APIs.

Nimi - 2 years experience working with xBacked create smart contracts, front end and backend for the platform.

Present Proposal

Auto-compounding farms take advantage of the composability of Algorand smart contracts and allow CompX to add a layer on top of Pact.fi farm contracts. This extra layer allows us to offer users the ability to claim, swap and restake their rewards on a frequent basis. This results in higher yields for the user.

Technical specifications

Auto-compounding farms tutorial

Future Blueprint

CompX auto-compounding farms will continue to be a core feature of CompX. We will be bringing V2 farms, which are fully independant of Pact.fi but V1 farms as they are now will still be utilised.

Benefits for the community

  1. The community can use our auto-compounding farms to gain higher yields while leveraging the proven contracts at Pact.fi.

Additional information

2 Likes
2

Can you state whether CompX received any prior grants/VC funding for this product? And if so, what amounts? I suspect the answer is “no”, but want to be sure. Since the request is retroactive in nature, I think it’s a relevant question to knowing whether the work was already previously compensated, and if so, in what measure.

Thanks.

3

Hey, thanks for commenting!

No CompX did not receive any grants or prior funding arrangements.

We did receive $25k from BUIDL hackathon by winning our category.

We did receive help in kind from Algomint as it was their devs that built the original CompX before I came on board in December.

Their costs were paid from Algomint and the prize money from the hackathon.

1 Like
4

Hi, your github proposal is missing information and at risk of being excluded. Please review ASAP.

5

Will do, will update this evening

1 Like