Grant Application for Hydrapad

[hydrapad]

Project Abstract

Dear Grants Committee,
We are excited to submit our application to support the development & integration of Hydrapad on Polkadot, a decentralized presale launchpad platform designed to facilitate seamless, transparent, and secure fundraising for web3 startups.

If your application is a follow-up to a previous grant, please mention which one in the first line of the abstract and include a link to previous pull requests if applicable.

Grant level

• Level 1: Up to $10,000, 2 approvals
• Level 2: Up to $30,000, 3 approvals
• Level 3: Unlimited, 5 approvals (for >$100k: Web3 Foundation Council approval)

Application Checklist

• The application template has been copied and aptly renamed (project_name.md).
• I have read the application guidelines.
• Payment details have been provided (Polkadot AssetHub (USDC & DOT) address in the application and bank details via email, if applicable).
• I understand that an agreed upon percentage of each milestone will be paid in vested DOT, to the Polkadot address listed in the application.
• I am aware that, in order to receive a grant, I (and the entity I represent) have to successfully complete a KYC/KYB check.
• The software delivered for this grant will be released under an open-source license specified in the application.
• The initial PR contains only one commit (squash and force-push if needed).
• The grant will only be announced once the first milestone has been accepted (see the announcement guidelines).
• I prefer the discussion of this application to take place in a private Element/Matrix channel. My username is: @_______:matrix.org (change the homeserver if you use a different one)

[github-actions]

CLA Assistant Lite bot: Thank you for your submission, we really appreciate it. Like many open source projects, we ask that you sign our Contributor License Agreement before we can accept your contribution. Please submit the following text as a separate comment:

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[semuelle]

Thanks for the application, @hydrapad. Most of our team is out of office during the holidays, so it will take at least another week before someone can give a thorough response.

In the meantime, can you elaborate on what you mean by "will be built on Substrate" if you already have a working version on EVM? Also, can you share some insight into your userbase and successes on Ethereum? What made you consider adding Polkadot?

Please also add technical details, such as which smart contract language you will be using and deliverables for each milestone. Please also review our guidelines and FAQ, so that you are familiar with what activities we do and do not fund:

• FAQ: https://grants.web3.foundation/docs/faq#what-activitiespositions-do-you-fund
• Guidelines: https://grants.web3.foundation/docs/Introduction/intro

[hydrapad]

Hello @semuelle good to connect and happy holidays. We have not launched our product yet. However we did create contracts for EVM, which are now being audited, Apart from that we also would like to have Polkadot integrated on our platform as there are no Launchpad on Polkadot ecosystem which provides bonded curve mechanism with live trading. So it's an area where we can provide our services.

Here are few more reasons below:

• Polkadot’s unique multi-chain framework offers an unparalleled advantage in terms of interoperability. With its relay chain and parachains, Polkadot enables seamless communication between different blockchains. For a bonded curve launchpad, where assets and liquidity need to be bridged across various ecosystems, Polkadot’s cross-chain capabilities are a natural fit. This ensures we can facilitate broader participation and integration with different blockchain communities, making our platform more accessible and scalable.

• Substrate's modular framework allows us to customize the blockchain layer according to our needs, especially as we design a bonded curve mechanism for our launchpad. Substrate’s flexibility in governance, consensus mechanisms, and runtime modules makes it easy to tailor the platform's features while maintaining high performance. This adaptability means we can innovate rapidly and efficiently.

• Polkadot’s parachains can scale independently, enabling our project to grow alongside the broader ecosystem. By utilizing Polkadot’s infrastructure, we can ensure that our launchpad can handle increased transaction volumes as our user base and features expand, without compromising performance or decentralization.

Note: Similar bonded curve presale launchpad exists on Solana called Pump.fun, We want to bring similar concept to Polkadot ecosystem, along side with EVM chains. And our platform will have a lot more features & security mechanism to prevent rugpulls / unwanted activities. Plus free token creation + free Presale creation with just one click. Our aim is to lift high entry barrier for any projects to come and launch on Polkadot and provide sustainable ecosystem.

Technical Details: Smart Contract Language and Integration on Polkadot

• For the smart contract component of the launchpad, we will use Ink!, which is a Rust-based programming language designed for writing WebAssembly (Wasm) smart contracts on Substrate-based chains. Ink! is highly optimized for Substrate and enables us to deploy smart contracts directly on Polkadot parachains, ensuring both security and performance. It's well-suited for our use case because it allows us to build flexible complex logic, while also taking advantage of the native Polkadot parachain infrastructure for scalability and cross-chain functionalities.

• By integrating with parachains, we can ensure cross-chain liquidity and asset transfers, which are crucial for a launchpad that needs to interact with multiple ecosystems (e.g., different token standards, DEXs, or other decentralized projects).

• For cross-chain communication, we plan to utilize XCMP (Cross-Chain Message Passing) to facilitate trustless interactions between parachains or the Polkadot relay chain.

• By using Wasm smart contracts (via Ink!) and Substrate’s native architecture, our launchpad will benefit from the security and performance optimizations of Polkadot and Substrate. Ink! contracts are executed in the Polkadot runtime environment, ensuring that they inherit the security guarantees and consensus mechanisms of Polkadot and its parachains.

• The substrate runtime also ensures that our smart contracts are highly efficient and can be executed in a gas-efficient manner, reducing unnecessary costs for users interacting with the launchpad.

• Polkadot’s ecosystem provides future-proof integration with other blockchain ecosystems, and through its bridges (e.g., with Ethereum, Bitcoin, or Cosmos), our launchpad could potentially support token sales, liquidity pools, and other activities across various blockchain networks. This is a critical advantage of building on Polkadot, as it aligns with our goal of creating a highly interoperable launchpad.

In conclusion, Polkadot is home to a growing and diverse range of projects, which means that our launchpad can leverage its ecosystem to attract new users, developers, and projects looking for a launchpad solution with integrated liquidity. Polkadot’s strategic vision aligns with our mission to create a sustainable, decentralized platform that supports the broader Web3 movement. Please feel free to ask any questions you have or perhaps we can jump in a live call to explain in more detailed manner. Thanks

[hydrapad]

We will update the deliverables for each milestone soon. Thank you.

[hydrapad]

Gm team, We have pushed the updated grants application. Please let us know if there are any changes to be made or any additional documentations required. Thanks very much.