We are a software house specializing in the blockchain industry, comprised of a skilled and talented team. Our team consists of:
- 5 Senior Smart Contract Developers, with extensive experience in smart contract development.
- 4 Junior Developers, young and passionate talents in blockchain technology.
- 1 Full Stack Senior Developer, possessing comprehensive skills in front-end and back-end development.
So far, we have focused our work on the development and management of software for the Terra ecosystem. We have had the privilege of collaborating with prominent projects such as Capapult Finance, SCV, and we are currently working closely with the Galactic Punks.
We firmly believe that the success of a blockchain relies primarily on developers who dedicate their time and expertise to drive innovation, security, and user-friendly experiences. Our goal is to contribute to the growth not only of the Terra blockchain but also the entire Cosmos ecosystem, leveraging our experience and skills.
We are thrilled to introduce our latest product: the Gate Contract. This revolutionary tool will enable protocols and developers to seamlessly interact across different chains, providing significant benefits to end-users.
THE GATE CONTRACT
Imagine being able to freely move your favorite NFT across different chains, utilize an interconnected lending and borrowing protocol seamlessly between two different chains, or leverage a protocol like Enterprise to stake your DAO tokens/NFTs on a different chain while still being able to vote on governance proposals. These are just a few examples of what will be possible thanks to the Gate Contract.
Currently, deploying a protocol on a different chain simply involves instantiating the same code on a new chain. However, despite the brand, user interface, and code remaining unchanged, the new instance is unable to interact with its counterpart on the main chain, resulting in isolated instances for each deployment.
The Gate Contract is specifically designed to facilitate IBC Messages between Smart Contracts on different chains.
Once deployed, it can handle all the communications between the chain and every other supported chain. This means that only one Gate instance per chain is needed.
By sending an ExecuteMsg to the Gate Contract, contracts on supported chains can forward IBC Packets to other chains and execute specific messages on those chains. The Gate Contract handles the intricacies of IBC internally, allowing developers to simply set up entry points in their contracts to communicate with the Gate. It also allows for sending native tokens along with messages on other chains.
Furthermore, the Gate Contract rewards relayers who execute the transactions on the other chain with Luna, making the process profitable and giving utility to Luna. It can send multiple messages in the same IBC Packet from multiple contracts to multiple remote contracts, also it allows contracts to perform Inter-Chain Queries.
Importantly, the Gate is free to use and does not charge any fees to its users. Security is maintained within the contract itself, as each smart contract can filter incoming messages, permitting only registered and trusted contracts to send inter-chain messages using the Gate.
It is crucial to note that the Gate is exclusively designed to interact with smart contracts and not directly with users.
EXAMPLE USE CASE N°1: ENTERPRISE
As explained earlier, in the current state, launching an existing protocol on another chain results in two isolated protocols that cannot interact optimally with each other. This limitation is particularly problematic for protocols like Enterprise, an innovative protocol on Terra created with the aim of easily managing DAOs.
If Enterprise were to launch its protocol on other chains like Osmosis or Injective, it would results in having separate and distinct DAOs from those existing within their protocol on Terra. This is because when tokens are transferred to Terra using ICS, they are recognized as IBC Tokens on Terra, limiting staking and voting capabilities to the native chain where the DAO was originally created.
By leveraging the Gate Contract, Enterprise can easily switch the Cw20 code used to our Inter-Chain Cw20 Version, enabling the transfer of Cw20 tokens across different chains.
The transfer of Cw20 tokens involves burning the tokens on the originating chain and minting them on the destination chain. This process is automatically handled by the Gate, which does not act as a custody contract and does not hold users’ tokens.
Through this approach, Enterprise avoids the need to handle IBC Tokens directly. Additionally, if someone wants to transfer a token from Neutron to Injective, they no longer need to route the transaction through Terra. Instead, the Gate handles the direct forwarding of the message to the correct chain.
In conclusion, for Enterprise, utilizing the Gate would mean being able to implement the capability of Multi-Chain Staking and Voting for DAOs, allowing users to stake their tokens/NFTs on any of the supported chains and vote on governance proposals.
EXAMPLE USE CASE N°2: CAPAPULT
For a lending and borrowing protocol like Capapult, choosing to implement the Gate would bring significant benefits and opportunities for new features.
Capapult could, for example, launch its protocol on Injective as well, and a Terra user would be able to:
- Deposit their collateral on Terra
- Mint SOLID directly on Injective, with the fees paid in LUNA
This is just an example of how the Gate can radically accelerate the interconnection between different Cosmos chains, enabling users to enjoy an increasingly effortless and enhanced user experience.
EXAMPLE USE CASE N°3: GALACTIC PUNKS
For an NFT collection like Galactic Punks, choosing to utilize our new Cw721 standard would undoubtedly open up a world of new possibilities, allowing the community to break free from being tied to a particular chain and explore new horizons within the Cosmos ecosystem by moving their NFTs from one supported chain to another.
This would enable communities from different chains to finally begin interacting with each other, breaking down the barriers that have existed between Cosmos chains, particularly in relation to NFTs.
Furthermore, the ability to move one’s NFTs to other supported chains allows for accessing the liquidity of those chains, resulting in significant liquidity benefits and the opportunity to reach a larger number of users.
GATE CONTRACT FUNDING PROPOSAL
First and foremost, we want to emphasize that the Gate Contract will be completely free and open source. Big Labs will not profit from the Gate Contract itself or the work done thus far, as our motivation has solely been to make a meaningful contribution to the community.
We strongly believe that a double audit is absolutely necessary to ensure the highest level of security and reliability for the Gate Contract, as it could potentially be a single point of failure for the protocols utilizing it. To address this concern, we have chosen to engage the services of two highly specialized and renowned companies, SCV and Oak Security.
- The estimated cost for the double audit amounts to approximately $70,000
We are still waiting for official quotes.
Furthermore, we are requesting funds to cover the expenses for one year of work for one of our Senior Smart Contract Developers. This developer will be responsible for implementing our solution directly into the code of various protocols and continuing the development of the Gate Contract.
As mentioned earlier, our team consists of 5 Senior Smart Contract Developers, and we want to emphasize that the requested compensation is intended to ensure the commitment and availability of this developer for an entire year of development. Despite it being less profitable for us, our focus remains on supporting the growth and achievement of new milestones for the Terra and Cosmos ecosystem, and we are confident that our decision will be appreciated by the community.
- We are requesting $150,000 for a Full-Time Senior Smart Contract Developer for one year of work
Lastly, we recognize the need for effective project management to establish connections with both Terra protocols and other chains.
The Project Manager’s role will involve interacting with protocols on Terra, presenting them with the potential use cases of the gate contract, and encouraging its implementation. They will also engage with protocols outside of Terra, persuading them to adopt the gate contract and launch on Terra to benefit from free support.
- We are requesting $150,000 for a Full-Time Project Manager
For a total of $370,000 in Luna at the moment of the proposal.
For Terra protocols, we will provide assistance at no cost to them in implementing our solution within their contracts to connect to other Alliance chains. Therefore, the protocols on Terra are definitely at an advantage as they will receive free support and be assisted by us in the order they come in.
Protocols outside the Terra ecosystem, on the other hand, will need to implement the Gate internally on their own, without our support, unless they decide to launch the protocol on Terra as well. In that case, they will also receive free assistance from us.