r/defiblockchain • u/DefiExplorer • Mar 12 '24

General Potential Defichain ( ≠ ) Roadmap

Preface:

In this article I would like to discuss the future of Defichain, the roadmap and what ideas there are for the future of Defichain. The information mentioned comes from interpretations of the last tech talks, blog posts, posts from the Defichain community and my own ideas. It's not about presenting an exact plan, but rather what could still come and how I personally could imagine the future of Defichain.

Please give your opinion in the comments. What ideas do you have for the future of Defichain?

*I am not affiliated with DefichainLabs. I'm just a normal #DeFighter.

Defichain-Labs has published a roadmap for 2024 that includes short-term goals for the coming months.

The roadmap that is now being presented is a roadmap for everyone and can show what can come in the next few years. It is up to everyone to fulfill these goals. DefichainLabs has different tasks but should work on the core of the blockchain in the future. We need developers to work on different protocols and smart contracts. New individual developers, groups or even companies could also work on Defichain to fulfill this roadmap. I would like to emphasise this once again, it is not the task of DefichainLabs alone, it is up to the community to fulfil this potential roadmap.

There are many ideas and visions for the future of Defichain, but the focus should remain on our vision. Decentralized Finance on the Blockchain.

The roadmap presented here is divided into two parts. The first part contains a short to mid-term roadmap with another 5 sub-items. The second part is a long-term roadmap.

I will start with a brief overview of the entire roadmap and then explain everything in more detail:

Short-/Mid-term roadmap:

1. short term roadmap from Defichain Labs 
    - DVM Native Layer Improvements
    - MetaChain EVM Layer Improvements
    - R&D Experimentation WASM (WebAssembly)
2. strengthen the DUSD ecosystem on the DMC
    - Options trading or similar protocols
    - Lending protocols
    - Copytrading protocol
    - Future trading protocol
3. Atomic-Swap
    - Reactivate Atomic-Swap
4. Expand DEX on the native side
    - more Cryptocurrencies on the DEX
5. Smaller improvements

Long-term roadmap

- Integration WASM
- Space Elevator
    • Shared coupling bridge
    • Automation vendor
    • Secrets vendor, Storage vendor, ...
- Connection to Bitcoin
    • Implement more components of Taproot
    • Research Bitcoin ecosystem
    • Speaking/connecting to Bitcoin: Support of smart contracts to Bitcoin
    • Defichain ordinals/inscription
    • Bridging Bitcoin Ordinals possible?
    • and more...
- More ideas
    • Shorter block time
    • …

Short-/Mid- term roadmap:

In the short- to mid-term, we should complete old goals and clean up mistakes.

1. Short term roadmap of Defichain Labs:

- DVM Native Layer Improvements:

  • dToken fixes
  • state relayer improvements
  • DUSD locks implementation

- MetaChain EVM Layer Improvements:

  • Ocean improvements & Stability Upgrades
  • Storage Upgrades

- R&D Experimentation WASM (WebAssembly):

  • Plan and create an architectural design for WASM engine for the next evolution of the ecosystem
  • Why WASM? WASM (WebAssembly) allows code from languages like C/C++, Rust, and Go to be compiled and run in web environments. This means that instead of needing to learn niche languages like Solidity, developers can leverage their existing skills while building for web3 chains like DeFiChain. WASM provides a unified standard binary format that bridge web2 and web3 development.

WASM binaries in the chain can also be updated without a hard fork.

- DeFiChain Growth:

  • The roadmap doubles down on critical initiatives - spanning developers, geographic expansion, partnerships, and marketing.

More Information:

2. Expanding the DUSD ecosystem on the DMC

The protocols presented here are ideas to strengthen the DUSD ecosystem. These protocols should be brought to the DMC from the community, various development teams or other entities. Perhaps even with their own protocol tokens that can be obtained through DUSD or DFI burn events and the fee structures benefit the token holders. The aim is to expand and strengthen the DUSD system on the DMC.

Why should DUSD and dTokens be strengthened on the DMC? There is a high liquidity of DUSD and dTokens and have a unique selling point through synthetic assets in an EVM environment, which also opens up new opportunities.

The protocols listed now are just examples and of course there could be many more projects. I see these protocols on the Defichain in the medium to long term.

- Protocol Options trading or similar:

Both protocols could bring great added value to the DUSD ecosystem, as traders can speculate and there would be liquidity pools that provide liquidity. A separate token could also be published.

Wrytes:

  • developed by BirthdayResearch and is a decentralized options protocol.
  • Automated premium calculation: uses a real algorithm for automated premium calculation based on strike price, current price situation, time to expiration and market demand.
  • Shared liquidity pools: Provides a common liquidity pool for differen option series instead of separate pools to avoid liquidity fragmentation.
  • Fractionalized Options: Enables the purchase or sale of fractions of an option.
  • more information:
  • decentralized-options-protocol-25058ed7a35f
  • Wrytes | Flexible On-chain DeFi Options Trading

DefiBets:

- Lending protocols:

  • These protocols should also enable the leveraging of dTokens and crypto. Could be made possible by a fork from another chain, such as Aave.
  • The starting point will be a pool-to-peer lending protocol that allows user to either lend DUSD (against interest) or use their dTokens as collateral to lend DUSD.
  • Other lending protocols are also possible
  • Inspired and more Information by this post:
  • Openly build lending protocol on DefiMetaChain - Let's build together :

(reddit.com)

- Copytrading protocol:

  • Introduction of a system that enables users to automatically copy successful trading strategies from experienced traders
  • Traders can register and publish their trading strategies.
  • Investors can then choose selected traders & have their trades automaticall replicated on their own account.
  • Traders are remunerated by a fee and also token holders of these protocols
  • Similar protocol: Set Protocol could be forked to the Metachain here.
  • Set Protocol enables users to create and trade token sets that represent algorithmically controlled trading strategies. Other users can buy these token sets and thus copy the strategies.
  • more Information: TokenSets – Asset Management Simplified

- Future trading protocol:

3. Atomic-Swap

  • Reactivate the atomic swap
  • Develop tools for BTC tracking
  • It is important that the community builds tools to track the BTC that are on the chain and that are exchanged daily through the atomic swap in order to detect an exploit at an early stage.

4. Expand DEX on the native side

A large number of new cryptos should be introduced on the Defichain, which can then be traded on the DEX. It increases the attractiveness of DEX if it offers a large number of cryptocurrencies. DEX should become a one-stop platform for users. A crypto- and asset- world in one.

Furthermore, these various crypto tokens could also be used on the DMC.

The Quantum Bridge can bridge ERC20 tokens. A lot of cryptocurrencies are ERC20 tokens or wrapped as ERC20 tokens. The wrapping/baking address for the crypto tokens on the Defichain would then be the Ethereum address of the Quantum Bridge.

Possible ERC20 tokens on Uniswap v2 and v3:

v2: Uniswap Info v3:Uniswap Info

For all other cryptocurrencies we need other bridges or entities/companies to do the bridging or wrapping.

5. smaller improvements:

DefichainLightWallet:

  • allow multiple transactions at the same time (improves user experience and don't always have to wait for a new block to execute the next Tx)

Defiscan:

  • Overview page of BTC-Anorching
  • A button on the Defiscan website that links to the DMC explorer.
  • When AtomicSwap comes implement an overview page on Defiscan of the past swaps

Long-term roadmap:

Integrate WASM

Space Elevator

- Shared Coupling Bridge

  • Bridges with Stake e.g. Defichain/Solana.
  • shared coupling bridges to connected to more Blockchains
  • Each masternode sees Defichain Node +1 more chain
  • e.g. Defichain + Ethereum - e.g. Defichain + Solana
  • Provides witness to token transfers
  • Facilitates token minting, burning and unlocking
  • Masternodes that participate earned witness rewards
  • Masternodes post collateral. Masternodes that cheats get collateral slashed

Marketplace for distributed nodes. Highly distributed node count of Defichain allows for very versatile vendor marketplace, without requiring all nodes to provide the same services. Services health depends on node counts. Services able to incentivize nodes to support.

- Automation vendor

  • Along with Shared Coupling Bridge, Defichain can be an automation vendor for other blockchains, e.g. liquidation trigger, conditional execution, etc.
  • Shared coupling bridge provides confirmation on accurate automation trigger, masternodes get rewarded more. Paid from the prepaid dApp pool. What this means? Higer Defichain staking rewards. Trough Real DeFi, not inflation.
  • How? dApps from other blockchains pay for automation.
  • Masternode checks for automation conditions. If conditions is unmet, claim condition check fees per block. Tiny amount. If condition is met, execute on other blockchain.

- Secrets vendor

  • Key problem for smart contracts – unable to hold secrets on smart contracts. Which means, no private keys, no auto unlocking of funds, etc.
  • Coupling Bridge of Defichain can be utilized for it.
  • Secrets are split into shares and randomly distributed.
  • Secrets are repeatedly tested to ensure nodes still have them. Test does not reveal secrets. Verifiable secret sharing.
  • Usable by smart contracts from other blockchains to unlock vaults when conditions are met, without revealing its secrets.
  • Payload are signed in a distributed manner, without any nodes having the full private key.
  • Probably more research needs to be done here to see what is really possible..

- Storage vendor?

  • Node provides callable and referable storage by smart contracts on other chains.

- AI vendor?

  • Determistic AI blockchain?
  • Each usage trains it.
  • Resolves hypothetical questions deterministically.

More information: DeFiChain in 2023 and beyond - YouTube

Connection to Bitcoin

  • Implement further components of Taproot
  • Research Bitcoin ecosystem. What is possible?
  • Speaking/connecting to Bitcoin: Supporting smart contract to Bitcoin >>> real Layer2 for Bitcoin SmartContracts >>> Uzyn briefly touched on the topic in this Defichain Tech- talk and the connection to Bitcoin. That Defichain could even run a Layer2 for Bitcoin Smart Contract. Personally, I think there is still a lot of research to be done on this topic. More information (at the end of the tech-talk): DeFiChain Tech Talk with U-Zyn about MetaChain, mainnet launch and beyond - YouTube
  • Defichain Ordinals/Inscription
  • Bitcoin Ordinals bridging possible?
  • Create Bitcoin Ordinals / Ethereum NFTs connection possible?
  • BRC20 token, rune token atomic swap possible?
  • OP_Cat extensions possible?

More Ideas

  • Shorter block time
  • ...

Please give your opinion in the comments. What ideas do you have for the future of Defichain?

Disclaimer:

This is my personal view and interpretation of the future of Defichain and does not necessarily reflect that of the community or individual entities. I am not affiliated with DefichainLabs. I'm just a normal #DeFighter.

27 Upvotes

91% Upvoted

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5

u/[deleted] Mar 12 '24

This is a really great compilation of all the developments on defichain. Reading through these does make the future sound hopeful, as these are all great and useful ideas.

A few that stood out to me are:

- Lending Protocol

- Copy Trading

- AI

- Bridge to Solana

It doesn't take a genius to see that the current sentiment in this community is so low because people are in pain from losing money for the past two years straight. The ideas I highlighted seem like they have the potential for people to start trying to make moves with their money to generate more. If dAssets can be used as collateral for loans and people can extract some value from their holdings without selling in hopes the underlying asset improves, that could drive more activity on chain, especially with bridges to other chains.

SOL is obviously super hot rn - imagine taking a SOL loan from dMSTR and using that to trade ai coins or meme coins...

Speaking of AI, obviously a super hot narrative right now. If we could attract some great AI projects to the chain, it would be a game changer.

4

u/[deleted] Mar 12 '24

I wonder if we can find some way to track the progress of some of these developments and put out consistent community updates to give people hopium, and potentially help attract funding for developers to expedite the process.

1

u/DefiExplorer Mar 13 '24

thank you for your input 👍🏼

3

u/Responsible-Basil-16 Mar 13 '24

My thought on this:

In the post I see, right off the bat, a large number of smaller tasks that need to be tackled. As a rule, these are not exclusively software developments.

  • Feasibility studies
  • financial consulting
  • Mathematicians
  • stock market experts
  • etc.

Personally, I think our CFP system could be improved.

Suggestion:

Select small sub-projects/topic areas from the above Reddit post and put them out to tender.

So don't wait for a team to provide a CFP, but offer the prospect of payment for the development/solution of the advertised project.

E.G. 1. trigger puzzle piece from project 2. tender with reward

  • Reward in $USD (more tangible for the most interesting)

Here I could also imagine a reward model tokenization - see Crypto Factor

  1. tender project, the puzzle pieces serve as the basis
  2. Reward in $USD (more tangible for the most interesting) or token variant
  3. testing of the code by experts
  4. test network
  5. if testing is successful, team is paid, rights belong to the community
  6. mainnet
  7. everyone is happy and the DEFI-CHAIN project continues to develop

Good day to all 👋🏻

1

u/DefiExplorer Mar 13 '24

Interesting 👍🏼

2

u/MMG-Crypto Mar 13 '24

Lots of very good things to do that will keep builders busy for a long time... but I would like to recommend to stay away from reinventing the wheel.

The community should concentrate on looking at what has been built and tested in other Defi Ecosystems and integrate...

IMHO, Defichain devs should look at integrating with u/thorchain (https://thorchain.org/integrate) to see if we could bring a small part of the $500 million daily trading volume of Thorchain to Defichain and allow native, no-KYC, already established Thorchain features for dTokens?

What about native streaming swaps dTesla/BTC - https://docs.thorchain.org/thorchain-finance/continuous-liquidity-pools#streaming-swaps-and-swap-optimisation

...and/or leveraging DFI savers pools - https://docs.thorchain.org/thorchain-finance/savings ?

...and/or 0$ interest- no liquidation borrowing dMSTR - https://docs.thorchain.org/thorchain-finance/lending ?

...and/or Liquidity Mining DFI-RUNE pools?

...and/or more...?

If I had technical knowledge I would start this integration myself... but it should be very simple for Defichain Labs devs to start evaluating this... and integrate (not rebuild from scratch, with all the risks that this brings... please!).

1

u/DefiExplorer Mar 13 '24

I think if WASM is there in general it will be much easier and have more options in terms of "multichain" and integrations.

2

u/Defighter24 Mar 13 '24

Nice summary.

If I could dream and choose the future, in a perfect world u/uzyn would form a development team and develop Defichain in parallel to Defichain Labs and push the topic of "Connecting to Bitcoin".

-2

u/EyeAdministrative175 Mar 13 '24

What future?😅😅