Proposal: tokenized vault standard
Development Fund Proposal Submission
Proposal file:
/proposals/mystic.md
Applicant
Organization:
Mystic Finance
Author / Primary Contact: João Moreira - joao.moreira@mysticfinance.xyz
Champion:
Gabi Tuinaite, Bitsafe
Proposal Classification
Proposal Type:
- RFP-aligned proposal
- Individual initiative
RFP / Roadmap Area:
- RFP 13 - Payments & DeFi
- RFP 12- RWA Standards
Label:
rfp-12:rwa-standards, rfp-13:payments-defi, token-asset-standards, champion-confirmed
Funding & Timeline
Total Funding Request:
2,000,000 CC
Project Duration:
4 months
Maximum Amount:
N/A
Maximum Duration:
N/A
Summary
Vaults are the bedrock of modern DeFi, and many teams are building with vaults on Canton already. However, there is no unified vault standard on the network, which leads to multiple different vault implementations, additional work for integrators and higher development costs to all, not to mention a higher danger of bugs in production. Mystic here introduces a unified tokenized vault standard that any team can adopt to ship their own vault product with reduced work and that any integrator can support once to then support any conformant vault. We introduce the vault CIP, integrate ecosystem feedback and deliver both the standard's Daml packages and a conformance testing suite. Overall, this will reduce the costs of building on Canton, facilitate onboarding new builders and drive Canton adoption, thus making for a more efficient, collaborative and open ecosystem.
Submission Checklist
- Full proposal file is included in this PR
- Organization and primary contact identified
- Champion identified or
Needs Championselected - RFP / roadmap alignment identified, if applicable
- Total funding request provided
- Project duration provided
- Proposal is within any RFP maximum amount
- Proposal is within any RFP maximum duration
- Milestones and milestone funding are defined in the proposal
- Acceptance criteria are based on ecosystem value
- Architectural alignment is addressed