Clover
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- Team Name: Clover Team
- Payment Address: 1HsVhJeeFx5AGGBRQzrvEqGC8FM8YfW6b6
- Status: Terminated
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Project Overview 📄​
If this application in response to an RFP then please indicate this on the first line of this section.
Overview​
Introduction​
Clover is a Substrate-based Polkadot parachain which is committed to providing easy-to-use blockchain infrastructure by creating a one-stop comprehensive infrastructure that ultimately reduces the threshold and cost for the DeFi community.
Clover provides a perfect gateway to DeFi for everyone including those who are completely new to DeFi. We bridge the gap between the crowd and the DeFi world via a user-friendly front end portal with an easy-to-navigate multi-chain wallet, block explorer/DeFi application market for regular users and a user-friendly built-in protocol library that allows developers to easily deploy their own applications. Without the need of managing multiple assets in different accounts, Clover enables users to keep track of what’s happening real-time in one place.
Integration​
We decided to develop on Polkadot mainly because of its enhanced scalability and low-in-cost among other smart contract platforms in the space. As a sharded multichain network, Polkadot allows the processing of many transactions on different chains in parallel that most legacy networks do not. While providing scaling solutions through parachains, Polkadot development is steadily advanced, has gathered a large number of developers from the community, and numerous projects are emerging endlessly in the ecosystem. On the other hand, Polkadot’s Substrate technology provides a relatively easy-to-use and highly customizable framework that allows us to build our platform to communicate with other ledgers, which in a sense will likely attract more users to onboard in the future.
Clover will compete to join as parachain for Polkadot and is committed to becoming a digital finance portal and DeFi service provider on Polkadot. Focusing on both to-C and to-B users, Clover will provide a series of DeFi related products and services to meet the diverse needs of different users. At the same time, developing and providing a modular DeFi protocol, which greatly reduces the technology development threshold for upper-layer applications. Clover will put together a large user base and different projects into a one-stop open and integrated financial service platform on Polkadot, using Substrate framework, to communicate with other existing parachains such as Bitcoin and Ethereum parachains. Namely, Clover will be another parachain on Polkadot. Once the parachain gets the slot to join the Polkadot relay chain, they can communicate with each other through Cross-chain Message Passing (XCMP) protocol. That means Clover can build its DeFi with the other parachain assets, like the DeFi protocols on Ethereum.
Team Interest​
We are a team of like-minded people who have a dream of building a groundbreaking technology towards censorship resistance on utilizing newest additions to DLT technologies. Apart from incentivizing our core team with a structured/periodic compensation plan throughout the next 5 years with cliffs imposed in between, we give ourselves a high degree of autonomy and lots of space for creativity overall.
Project Details​
Mockups/designs​
https://www.figma.com/file/SWg7LONt81ot05S1nlszcH/Clover-Wallet?node-id=0%3A1
API specs​
https://docs.google.com/spreadsheets/d/1BccgFYHS8YLEX5H9NpQf4ENE9Qwniq8YNpLEXXSAaRo/edit?usp=sharing
An overview of the technology stack​
The bottom layer of Clover OS is built on blockchain. Application states are built on the Polkadot network, and the storage is built on IPFS. Leveraging on Polkadot’s parachain technology, Clover’s core advantage lies in its control panel. It can easily dock various user actions provided by its backend that has been integrated by a variety of tools including Wallet, Block Explorer, Polkadot-JS, and more. As a result, users can be connected, transact on various chains and integrate their corresponding functions with the support of Clover. Clover will collect incoming data and clean them, with our proprietary database and inhouse algorithm, data will undergo different sets of validation and analysis before they get applied and translated into visualizable data. Building on Substrate, Clover’s application terminal is determined to become the entrance to the global digital finance world with state-of-art simplicities. With accessible tools, better support, and lower cost, we are likely to see more applications to be developed on Polkadot in the future. Clover will foster a diversified and scalable DeFi environment that allows for more possibilities.
Documentation of core components, protocols, architecture​
https://docs.google.com/presentation/d/1XQTdfY8IhYGsTiiFBIeTTh25eaIEck7WJ5Tz2bBTJv4/edit?usp=sharing
PoC/MVP​
https://docs.google.com/document/d/1c4KecPdFp6T51YIGv45e37s7CR46MtcZEF0NSSU6Dbc/edit?usp=sharing
Ecosystem Fit​
As a decentralized financial service provider on Polkadot, Clover provides modular DeFi protocols and application tools, which greatly reduces the repeated efforts needed in the protocol development. Modular DeFi protocols include Staking Liquidity Protocol, Decentralized Trading Protocol, Decentralized Lending Protocol, Token Dividend Protocol, Governance Protocol, and Synthetic Asset Protocols. Clover allows its upper-layer application projects to focus on improving user experiences and accelerate innovations of diversified financial applications through its composability. Clover can potentially convert a large number of DeFi users into users of its upper-layer applications. This way, upper-layer applications will be able to bootstrap its community and inject more market values.
Clover will also establish a developer-centric community. In addition to giving rewards to those who provide constructive contributions, Clover will encourage its third party developers to continuously build innovative dApps on top of Clover. Each project built on Clover by the third party developers will require a solid financial foundation, and generally donations from the community are insufficient to cover development expenses which results in stagnated growth. Therefore a sound funding mechanism has been established, The Developer Incentive Program, where all the projects building on Clover can benefit from a share of transaction fees. The Developer Incentive Program (DIP) is a Clover-native consensus feature that aims to direct a percentage of transaction fees to registered smart contracts to incentivize in Clover third party contract developers and commons, mainly to boost external dApp development which ultimately enlarges the Clover DeFi ecosystem overall. The program is consistent with Clover’s properties of being a decentralized operating system which does not touch the inflation schedule or alter the scarcity of CLV, but effectively increases the security of smart contracts against bugs and software vulnerabilities by enabling external development to be properly funded. Overall the benefits of the plan create the potential for a very exciting future in which Clover can grow and compete, and can reach its goal of becoming the best possible DeFi platform for all. Therefore Clover, whose key role is to be the service provider of which will allow a variety of applications to be built on top, aims to become a one-stop financial services platform that highly incentives users, developers, and upper-layer applications to innovate.
With the rapid development of DeFi, the demand for insurance protocols is also increasing and has become an important part of the DeFi protocols. At the current stage of DeFi development, it is not yet possible to directly trade assets such as stocks, precious metals, and commodities. However, the synthetic asset protocol will allow simulations of assets price and facilitate transactions on the blockchain. In addition, the developer community we established will also become a source of innovative DeFi protocols. Clover allows modularization of the different protocols, thereby providing a resourceful module library for upper-layer applications, which will ultimately enable the creation of more diversified financial applications. With the help of Bithumb Global bootstrapping the liquidity of Clover by co-sharing its marketing and community resources, we will be advising Clover on the go-to-market strategies and PR placements as well as launching campaigns, educating Bithumb users, and distributing to our network.
Team 👥​
Team members​
- Burak Keceli - Tecnical Lead
- Chris Li - Strategy Lead
- Norelle Ng - Operations
- Chris Williamson - Co-strategy Lead
- Barek Sekandari - Merketing Lead
- Marina Danylyuk - Chief Legal Advisor
Contact​
Legal Structure​
Clover, Inc. (Registration Number: 2045136) Unit 8, 3/F, Qwomar Trading Complex, Blackburne Road, Port Purcell, Road Town, Tortola, British Virgin Islands, VG1110
Team's experience​
As a collective, the founding team has been working together for 8 months that has been in the industry for over 2 years, of which have crossed paths multiple times in different industry conferences. Within the team Burak is mainly based in the Bay Area, Chris in Hong Kong, Norelle in Canada, and Barek is based in the UK.
We all come from different and unique walks of life, backgrounds, and experiences which really makes us a dynamic and strong team complementing one another's skill sets. It is neat operating as a team across the globe because we can tap into different markets and bring different things to the table. Our team has been formed to optimize and complement one another’s skill sets; from DLT engineering to economics, to operational, and marketing expertise. We have a team capable of building, executing, and scaling Clover to its fullest potential.
Team Code Repos​
Team LinkedIn Profiles​
Development Roadmap 🔩​
Overview​
- Total Estimated Duration: 3 months
- Full-time equivalent (FTE): 11.5
- Total Costs: 0.87 BTC
January 2021 Milestones​
- Estimated Duration: 1 month
- FTE: 11.5
- Costs: 0.29 BTC
| Number | Deliverable | Language/Framework | Specification |
|---|---|---|---|
| 1. | Documentation | Text | Start documenting on the various aspect of the Clover product matrix. |
| 2. | Unit Test | TypeScript | The chain specific unit tests will cover 50% at the end of Jan. |
| 3. | License | Text | MIT license |
| 4. | Article/Tutorials | Text | Writing varios tutorials to demonstrate how to setup clover nodes |
| 5. | Clover Rosetta Services | NodeJS | Integrating Coinbase Rosetta services to ensure the cross-chain compatibility |
| 6. | Clover Chain | Rust | Fully implementing distributing gas fee functionality for EVM contract deployers |
| 7. | Clover Explorer | Vue/NodeJS/SpringCloud | Creating first alpha build for Clover cross-chain block explorer based on Rosetta protocol |
| 8. | Clover Store | Android/iOS Native/IPFS/Solidity | Delivering initial build of clover store app to be able download/execute eAPPs |
| 9. | Clover Testnet | Rust | We will finalize the Clover testnet and the faucet to receive test tokens |
| 10. | Clover Wallet App | Android/iOS Native | Delivering initial build of Clover official wallet on both android/iOS |
| 11. | Clover Wallet Chrome Extension | JavaScript/H5 | Delivering initial build of Chrome Extension of Clover web3 wallet |
| 12. | Substrate module: Frontier-EVM pallet | Rust | Rolling out minor EVM adjustments with Clover chain |
February 2021 Milestones​
- Estimated Duration: 1 month
- FTE: 11.5
- Costs: 0.29 BTC
| Number | Deliverable | Language/Framework | Specification |
|---|---|---|---|
| 1. | Documentation | Text | Covering 50% of the overall features on Clover Network |
| 2. | Unit Test | TypeScript | The chain specific unit tests will cover 90% by the end of Feb. |
| 3. | Clover Chain | Rust | Implementing enterprise developers' achitecture with in the low level logic |
| 4. | Clover Explorer | Vue/NodeJS/SpringCloud | Delivering the beta build of Clover cross chain explorer with support of BTC/ETH/DOT/CLV |
| 5. | Clover OS SDK | Native/JS | The first version of Clover OS SDK with Android/iOS version will be released by the end of Feb. |
| 6. | Clover Wallet App | Android/iOS Native | Integrating Clover OS on Clover Wallet App |
| 7. | Clover Wallet Chrome Extension | JavaScript/Vue | Finalizing Clover chrome extension and distribute it on google store |
| 8. | Tulip Editor | Vue/NodeJS/Solidity | Deliverig first POC version of Tulip editor |
| 9. | Clover Developer Portal | Vue/Java/NodeJS/PostgreSQL | Delivering basic functionalities of developer portal with account creation/upload/upgrade eAPP |
| 10. | IPFS Integration | NodeJS/Go | Integrating IPFS node along with Clover node into single Docker file for distribution |
March 2021 Milestones​
- Estimated Duration: 1 month
- FTE: 11.5
- Costs: 0.29 BTC
| Number | Deliverable | Language/Framework | Specification |
|---|---|---|---|
| 1. | Documentation | Text | Documentation will be ready at 1.0 version to cover 100% of the current features |
| 2. | Tulip Editor | Vue/NodeJS/Solidity | Delivering alpha build for Tulip Editor with EVM support |
| 3. | Clover Wallet App | Android/iOS Native | Releasing Clover wallet app on Google Play and Apple Store |
| 4. | Clover OS | Native/JS | Having Clover OS support for iOS/Android/Embedded by the end of Mar. |
| 5. | Clover Store | Vue/IPFS/Solidity/NodeJS | Delivering the official release of Clover Store. |
| 6. | Clover Developer Portal | Vue/Java/NodeJS/PostgreSQL | Rolling out Clover developer portal for the public with incentivize program |
| 7. | Clover Wallet Firefox/Safari Extension | Javascript/Vue | Delivering Clover Firefox/Safari extension |
| 8. | Clover Governance | Solidity/Rust | Releasing first build of Clover governance system |
| 9. | Storage | NodeJS | Adding IPFS/AR/CRUST support as the Storage service |
Future Plans​
We will start to build the developer community when TestNet is ready and SDKs are available in Q1 and Q2 2021. Detailed documentations will be provided and more contents about developing applications on Clover will be released by then. We will work with some existing developer community to hold events, as well as holding/supporting hackathons to acquire more developers once developer kits are ready in Q2/Q3 2021. Bug bounty programs will be held when Mainnet is launched. For the user community, we plan to work with some industry media to release publications. Clover maintains its social media including Twitter, Youtube, Medium, and more to provide self-generated content, and covert followers and users to our Telegram, Discord, and Kakao groups. Marketing campaigns will be held to keep user activeness while Clover will focus on incentivizing users to participate in liquidity mining and governance activities. Key metrics of campaigns include the number of new user growth, the number of token holders, the number of members in the developer and the overall community, social media followers, total value locked (on liquidity mining applications), and number of votes.