ChainEye Is Live on Gitcoin Grant Round 15

Gitcoin will carry out the 15th round of donation activities from September 7th to 22nd.

ChainEye, an open source free full-chain tool incubated by Biteye, the leading Web3 research community in Asia with over 180K members across all channels, will participate in this round to obtain product iteration funds for its three core sub-products BridgeEye, On-chain&CEX Transfer Fee, and Multichain Gas.

The fund will be used to enhance token-related functions, develop new functions for NFTs, and develop security-related tools.

In GR14 rounds, BridgeEye held the 36th rank among the 2,800 projects, accounting for the top 1.3%. On Gitcoin, ChainEye has the tag for the main round and is matched by one of the best crypto VCs: a16z Crypto.

The vision is to build the world’s leading free and open-source omnichain analytical tools for retail investors.

Core products of ChainEye:

Cross-Chain BridgeEye

Launched in Q4 2021, BridgeEye is a multi-chain bridge comparison tool that displays all the possible routes of supported bridges based on the source chain, destination chain, and the amount of the assets.

BridgeEye provides users with the best user experience: by default, routes are sorted by the total cost of cross-chain from low to high.

In the meantime, users can change the sorting as fastest or by cross-chain bridge TVL and then choose the optimal bridge option as per their requirements.

Users can also find the bridge name along with basic information about it, transfer fees (including swap fees, bridge fees, and gas costs), estimated time, and also the amount that the asset will eventually be sent to the destination chain.

The total user visits of Bridgeye have exceeded 80k and are still on a continuous path of growth.

Moving forward, the plan is to start the commercialization of BridgeEye, and most of the income will be returned to community members and contributors.

On-chain & CEX transfer fee

It allows users to see all the CEXs’ deposit and withdrawal status without logging into their CEX account.

By using ChainEye’s transfer fee product, users can check the fee for the cheapest route and save some money between CEX and on-chain trade.

On the ChainEye platform, users can easily find information about the transfer fee they need to pay by choosing the asset they want to transfer, followed by the target chain and CEX, using the drop-down menu.

In the meantime, to provide users with the most accurate information, the data will be updated every 10 minutes through private APIs.

Users can check deposit and withdrawal information for CEX on the same page, including the asset price, withdrawal fee, and minimum limit on various chains and CEXs.

ChainEye provides the easiest way for users to inquire about CEX information. With only a single table, users can obtain information about the transfer fee for every CEX.

Multichain Gas

This tool gives users an overview of multichain gas fees. Until now, the multichain gas product has already integrated the gas fee information from Ethereum, Arbitrum, Optimism, BNB Smart Chain, Avalanche, and Polygon. Users can check the real-time gas fee for all these blockchains on a signal table.

In order to provide users with a better overview of the changes in gas fees and the frequency of activities on the chain, it provides time range options from 1 hour to 7 days. Similar to the CEX transfer fee product, Data is refreshed every 10 minutes to provide the latest information.

At the same time, ChainEye will include NFT functions in the near future.

Fund utilization

With donated funds, the ChainEye team will continue to develop products and bring a better experience to users. Donated funds are used for the following purposes:

• Enhance Token-related functions.
• Develop new functions for NFT.
• Develop security-related tools.

Last round updates for products

The ChainEye team is continuously updating products. In the last round of updates, the team mainly upgraded the platform from the following aspects

• Support more bridges: such as Bungee, Rainbow, and Hyphen

After including various bridges such as hop, relaychain, orbiter, the project has included more on the list to expand the option pool for the users.

• Multiple ranking options: by TVL, transfer time, and transfer cost

The drop-down menu of the route results gives a sorting option where users can sort the results based on either chain’s TVL, estimated transfer time, or cost. By default, sorting is done by total cost.

• Filter Options: by CEX routes or if the bridge has issued tokens

Users can also filter the route options to include/ exclude the cross-chain bridges that haven’t yet issued tokens. A similar filter is also available to include the CEX route.

• Gas cost calculation: for both source chain and destination chain

Users can get information about the total fee that may include components such as across bridge fee, destination gas fee, fixed fee, estimated gas fee, LP fee, slippage, etc, across different routes.

• Detailed information about bridges

Users can also check information such as audit reports, TVL, funding updates, social media data, etc. It uses the  Defilama API.

Introduction to Gitcoin donation campaign

Gitcoin is a donation platform for open-source software. Users can support various decentralized open source projects through Gitcoin, and early projects can also receive donations on Gitcoin to maintain operations.

In each round of Gitcoin Grants, in addition to receiving donations from users, Gitcoin will also use the Quadratic Funding model to allocate funds from the Ethereum Foundation to high-quality projects.

Quadratic funding is the mathematically optimal way to fund public goods in a democratic community. 

Gitcoin has funded approximately $64.7 million for open source, granted 3,168 grants, generated $44.92 million in gross marketplace value, and has 312K active monthly developers contributing to the web3 ecosystem.

With the support of the Ethereum Foundation and other matching partners, Gitcoin aims to run at least quarterly rounds in 2022.

Round 6 (June 15 – July 3, 2022) of Gitcoin Grants concluded with $227,847 in contributions from 1,526 contributors and $175,000 in matched funds distributed across 695 projects. The numbers evidently grew in subsequent rounds.

Past star projects of Gitcoin

Some successful grantees on Gitcoin so far have been:

• $860k for Coin Center, a non-profit research and advocacy center focused on the public policy issues facing cryptocurrency and decentralized computing technologies like Bitcoin and Ethereum.
• $290k for Ethers.JS, a complete and compact library for interacting with Ethereum.
• $230k for the first Quadratic Freelancer.
• $145k for zkRollups.xyz, aggregator of projects building zkRollups, building on zkRollups, and building zkRollups, making these projects easy to find via an intuitive directory.
• $125k for WalletConnect, one of the popular wallets used for transactions beyond Metamask.

Added value of participation

Participating in the donation of the project not only means that you have contributed to the development of the project and become the builder of this project, but you may also receive a lot of additional rewards in the future, such as airdrop.

Note: Grants Round 15 will run from September 7th (3 pm UTC) till September 22nd, followed by Grants Round 16 from December 1-15. You may donate to your favorite causes, ecosystems, and public goods.

Grant Round 15 (GR15)

Highlights

Over $2.8 million in total matching funds have already been committed across different rounds: up to $1m to the main round, $1.3m+ across 13 ecosystem rounds, and at least $900k across 4 cause rounds – Climate Solutions, Advocacy, DeSci, & DEI (Diversity, Equity & Inclusion).

Eligibility criteria

Gitcoin Grants have multiple types of matching pools: The Main, Ecosystem, and Cause rounds. Grantees can receive funding from various matching pools based on their eligibility criteria.

Above all other criteria, the need to strictly follow the Anti-Fraud & Collusion workstream of GitcoinDAO is crucial.

Also, the project’s application submitted before the beginning of the round goes under review before being published. Grants submitted after the first week of the round will not be accepted.

Main round

The Main round is the longest standing round. These funds are the least restrictive, and grantees need only ensure their grant is active and meets minimum eligibility criteria, and has an Ethereum payout address to be eligible for matching funds.

Under Main round eligibility criteria, a grant project shall be open source and committed towards a value-based item in exchange for a donation on the Gitcoin platform.

The project shall not have any token or NFT and no VC funding over $500K.

Ecosystem round

Ecosystem rounds are focused on funding grants that support the objectives of the sponsoring ecosystem.

Though different rounds may have additional criteria, as per the common and important conditions, the project should not have its own token/NFT, have not raised any VC funding, and shall not have any form of quid pro quo that has financial value.

The grant project should be open source just like in the main round.

Various major grants under the Ecosystem round:

Cause round

While ecosystem rounds are aimed at supporting builders and projects within a specific community. Cause rounds are all about impact in specific areas, this time which is: Climate Solutions, Advocacy-crypto regulation, DeSci, & DEI (Diversity, Equity & Inclusion).

ChainEye can be discovered through the discovery tags of L2, infrastructure, and Defi. It vouches for a free and open-source tool for the crypto public good.

The app includes almost every major bridge and CEX on multiple chains and will add more to the list.

With continuous improvements, the addition of new features such as NFT functions, security-related tools, encrypting public products for users, and community building, ChainEye will develop into a truly crypto-native omnichain analytical tool.

From querying cross-chain functions to querying information on various chains, ChainEye will become the traffic portal in the multi-chain era.

Operation mode of ChainEye

• Permanent open source & free

ChainEye is committed to being 100% free, open source, and truly owned by its users, where developers from around the world can contribute to the tool.

• Giving back to the community

As mentioned before, to grow with the community, ChainEye will give back to its users and community members with at least half of its future income.

GR15 participation guideline

If you already have experience with how to donate on Gitcoin, you can directly click here to donate to ChainEye.

If you haven’t used Gitcoin before, the following tutorial may help:

Step 1: Go to the Grants page and log in.

On the Grant homepage, click “Sign In” in the upper right corner, log in with your GitHub account, and complete the authorization to automatically obtain the Gitcoin account identity.

If you do not have a GitHub account, you need to register a github account first.

Step 2: Connect Your Wallet

Click on Connect Wallet on the Grant homepage.

Step3: Select ChainEye and add it to the cart

Find the donation page for ChainEye here and add it to the shopping cart.

Step 4: Payment

Click “CHECKOUT” to enter the shopping cart page:

Currently, there are three payment methods.

• Paying on the Ethereum mainnet, the wallet pays directly, which is convenient and fast, but the gas fee is high.
• Paying through the Polygon network, this payment method is recommended for cart items over 50, because Polygon has no upper limit and the gas fee is low.
• Payments via zkSync have the same low gas fee, but the amount cannot exceed 50.

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