For Cycle 8

[niyid]

Summary

Specify the total amount of BSQ you are requesting:

• BSQ requested:
  12,500 BSQ

Contributions delivered

Provide links to contributions you have delivered, the amount of BSQ you are requesting for each, and any comments that will help stakeholders understand its value.

Monero Integration Incubator Project - Milestones 3 & 4a - 10,000 BSQ

Dear All,

It is said that where there is a will, there is a way. Also nothing gets done when it is already decided that it is impossible. After many false starts (and a bit of floundering in the wilderness), I have decided that for now the best approach to quickly achieve a workable design and working product is to have the following:

1. An offer is created with the fees and security deposit in BSQ. This avoids the most daunting issue of how the fees and security deposit can be drawn from an XMR wallet to the purse of Bisq without requiring an XMR administration wallet.
2. While the offer displays in XMR, internally it is stored as BSQ using the BSQ to XMR conversion rate.
3. When an offer is accepted (and trade commences), the equivalent of the offer in XMR is first transferred into a 2/2 multisig wallet from whence it is then delivered to the taker's designated XMR address on completion of the trade.

Parts 1 and 2 of this design have been completed and part 3 is a work in progress. Indeed the entire project is still a work in progress as I get more familiar with the existing code; and realize that at least an easier solution exists which would have required less additions/changes to the code base (and therefore lowered the chance of introducing bugs/errors) and allowed delivery of the project in no more than a month compared to the current presented estimates.

I will also still continue to explore ways that can make XMR fee and security deposit payments directly from a wallet, possible.

You may refer to the updated and attached project plan/estimates.

Proposal_110_Milestones.xlsx

Regards.

Screenshots

Other Contributions

bisq-network/bisq#3352 - 1,000 BSQ
bisq-network/bisq#3510 - 1,500 BSQ

Contributions in progress

Provide links to work you're involved with that is still in progress. This section is optional, and is for your own benefit in keeping track of what you're doing and keeping other contributors up to date with the same.

Monero Integration Incubator Project - Milestones 4b, 4c, 4d, 4e and 5

bisq-network/bisq#3292
bisq-network/bisq#3328
bisq-network/bisq#3338
bisq-network/bisq#3401
bisq-network/bisq#3408

Roles performed

Provide links to your monthly report on any roles you are responsible for.

[chimp1984]

Congrats to your progress!

I appreciate work on the feasibility to use XMR as base currency. But it is hard for me to understand what the current prototype is really doing ("While the offer displays in XMR, internally it is stored as BSQ using the BSQ to XMR conversion rate." sounds very confusing to me).

• Is the 2of2 Multisig in XMR?
• Is the timelocked payout tx done in XMR?

It would be good to have a technical specification so interested developers can understand and discuss. And there would be more to discuss than only the technical part. Bootstrapping a new market is very challenging and the past alternative base currencies had all failed to bootstrap a market. Bisq itself needed probably 2 years until EUR and USD became more or less liquid. So it would be interesting to see if there is a way to combine both base currencies and not run it as separate apps/network. Such questions (and more) would require broader discussion and input. To be able to make that happen it requires a specification so all are on the same table....

I fear that compensation request will not meet our rules (only delivered work is compensated). I would recommend you to separate the delivered work in another request to not risk to get rejected because stakeholders might not accept the prototype work.

If you want to get compensated for "R&D" work you should make a proposal with clear specifications, milestones and estimation (I see you did that but seems heavily under-specified). The stakeholders can vote then on it if they are willing to invest in such an "R&D" project. Be aware that this is exceptional and not the normal way how compensation is done, so the bars are rather high.

The incubator idea has failed so far as we do not have the resources to maintain/reveiw/audit incubator projects. I understand that there is value and interest in such kind of work but we need to find a way which is compatible with the DAO and with our resource limitations. Feel free to suggest ideas if you have some...

[niyid]

I appreciate work on the feasibility to use XMR as base currency. But it is hard for me to understand what the current prototype is really doing. Is the 2of2 Multisig in XMR? Is the timelocked payout tx doen in XMR? It would be good to have a technical specification so interested developers can understand and discuss.

Thank you. Yes, there is 2/2 multisig implementation in XMR and time-lock once the taker accepts the offer. As already pointed out, at this point the fees and deposit are made in BSQ (which was one of the existing options) with no BTC option. The plan is to replace the BTC option with XMR.

Indeed a technical specification is required; which I can make as a deliverable in the next cycle. But there is already a high level description in the proposal itself; which of course will be merely expounded on.

I fear that compensation request will not meet our rules (only delivered work is compensated). I would recommend you to separate the delivered work in a other request to not risk to get rejected the request because stakeholders might not accept the prototype work.

I will keep my fingers crossed and hope that the work is accepted.

If you want to get compensated for "R&D" work you should make a proposal with clear specifications, milestones and estimation (I see you did that). The stakeholders can vote on it if they are willing to invest in such a project. The incubator idea failed so far as we do not have the resources to maintain incubator projects. I understand that there is value and interest in such kind of work but we need to find a way which is compatible with the DAO. Feel free to suggest ideas if you have some...

Yes, I have already outlined milestones and estimates; and I am hoping the stakeholders will find them agreeable enough; especially since the project is no more than 3 weeks from completion.

I do hope the incubator idea (which you suggested) becomes a great success.

Many ideas have already been suggested by others and I am being guided by those suggestions. For instance the idea of milestones and estimates were made by @m52go.

Indeed with this work considered as R&D, the v2 protocol development could also profit. I do not currently know what designs are on ground for v2, but the technique here (which is quite basic/uncomplicated and) which basically and essentially leaves the structure of OfferPayload unchanged while storing the base-currency-to-BSQ exchange rate for the particular offer in the extra data map (meaning that the base-currency does not have to be XMR - it can be any currency) provides the anything-for-anything target that v2 promises even with v1.2.

Thanks a lot for the interest.

Regards.

[MwithM]

Request rejected by DAO. Keep open a few days for discussion.

[MwithM]

Closed as rejected.