Summary
We propose to build and open-source a Compound frontend in collaboration with Gauntlet to support their Compound <> Morpho <> Polygon Collaboration proposal. This frontend will enable users to deposit, withdraw, and borrow assets, and claim Merkl rewards on the proposed Compound Morpho vaults and markets on Polygon.
This frontend is set to launch on March 3, 2025.
Scope & Features
Pages
- Earn Page: Lists all vaults with key metrics. Clicking on a vault navigates to its Individual Vault Page.
- Individual Vault Page (Lend): Displays essential vault state, configuration and reward parameters, including associated markets. Lenders can supply or withdraw the base asset.
- Borrow Page: Lists all lending markets with key metrics. Clicking on a market navigates to its Individual Market Page.
- Individual Market Page (Borrow): Displays essential market state, configuration, and reward parameters, including which vaults use this market. Borrowers can supply and withdraw collateral, and borrow and repay the base asset.
User Experience
- Targeted UX: Separate interfaces for lending and borrowing provide a streamlined and scalable experience tailored to each user type.
- Compound Branded: The frontend will leverage Compound’s existing brand identity.
- Responsive Design: The frontend will support desktop and mobile devices, offering an optimized experience for users across various screen sizes and platforms.
Initial Support
- Chain: Polygon
- Initial Vaults: USDC, ETH, BTC, USDT, POL
- Lending Markets: ~20 lending markets, one for each collateral permutation of the vault’s base asset.
- Merkl Rewards: Support Merkl rewards campaigns including data integration and claiming.
Data Infrastructure
- Minimal Data Complexity: Staying aligned with the MVP approach, we will not include historical data in this version of the UI.
- Whisk: All data will be powered by custom endpoints in Whisk, Paperclip Labs’ data indexing and delivery tool that provides real-time, scalable data optimized for DeFi.
Scalability
- New Vaults and Markets: The system is designed to support additional vaults and markets in future iterations, ensuring adaptability to changing protocol needs.
Alignment with Morpho
Supporting the Compound <> Morpho <> Polygon collaboration strengthens Morpho’s presence in the multi-chain DeFi ecosystem, expanding its accessibility and usability. We believe this initiative will drive new deposits and lending activity, enhancing the Morpho protocol’s reach on Polygon.
Project Phases
Phase 1: UI/UX Design
Objective: Create high-fidelity Figma designs that define the application’s user experience and interface.
Key Activities:
- Research: Analyze the current landscape of existing lending UI patterns.
- Wireframe Design: Develop low-fidelity wireframes based on research findings to map out core user flows.
- High-Fidelity Design: Transform wireframes into polished, high-fidelity UI designs.
- UI Kit Creation: Develop a UI kit to ensure design consistency across components and streamline development.
Completion Criteria: Delivery of interactive, high-fidelity Figma prototypes representing key user flows.
Phase 2: Development & Testing
Objective: Build and test the frontend.
Key Activities:
- Data Integration: Implement real-time data indexing and aggregation for vault and market state, configuration, and Merkl rewards, exposing a custom API in Whisk.
- Smart Contract Interactions: Implement the required logic to support smart contract interactions such as approve, supply/withdraw base assets, deposit/remove collateral, and borrow/repay loans with the underlying Morpho vaults and markets, and claiming Merkl rewards.
- Frontend Implementation: Develop the frontend implementing the designs from the previous phases and leveraging the functionality from the previous activities.
- Testing: Conduct rigorous visual and functional quality assurance testing to ensure usability and reliability.
Completion Criteria: Fully functional open-sourced frontend.
Phase 3: Compliance, Deployment & Post Launch Support
Objective: Ensure regulatory compliance, deploy the frontend, and provide 2 months of post launch support.
Key Activities:
- Pre-deployment:
- OFAC Compliance: Ensure frontend interactions comply with OFAC sanctions regulations, including wallet screening for restricted addresses, and IP-based restrictions.
- Terms of Use: Integrate legally compliant terms of use to clearly define user responsibilities, platform policies, prohibited activities, disclaimers, limitation of liability, and compliance requirements.
- Data Privacy: Implement measures to comply with privacy regulations, such as GDPR and CCPA, including proper data handling and consent management.
- Deployment Guide: Document required steps to deploy the frontend.
- Security Audit: Perform an internal frontend security audit, and engage with Morpho’s security service providers if available.
- 2 month post deployment support:
- Hosting & Infrastructure: Reliable frontend hosting, redundant RPC nodes, Whisk data access.
- Bug Fixes & Patches: Resolving both critical and non-critical issues that may arise.
- Monitoring & Performance Optimization: Continuous system monitoring and performance enhancements.
- UI/UX Improvements: Iterative updates to enhance the user experience based on feedback.
- New Vaults and Markets: Adding support for additional Compound-Morpho vaults and markets as needed.
- Legal Compliance: Perform periodic legal reviews to ensure ongoing adherence to U.S. sanctions, data privacy regulations, and other applicable laws. Update terms of use, privacy policies, and compliance measures as regulations evolve.
The frontend will be hosted and maintained by Office Supply Ventures LLC. After this 2 month period, long term sustainability will be evaluated based on adoption and governance sentiment, with options including performance fee splits, or additional grants.
Open Source
Frontend source code will be open sourced under GPLv3 license to ensure transparency.
Funding Request
We are requesting $52,000 in MORPHO, with a timeline to build completion of 3 weeks (phases overlap):
- Phase 1: UI/UX Design - 1.5 weeks
- Phase 2: Development & Testing - 2 weeks
- Phase 3: Compliance, Deployment & Post Launch Support
Note: To determine the MORPHO amount, the 7-day TWAP will be used ending on the day this proposal passes.
Team
We’re Paperclip Labs. We design, build, and ship crypto products and tools. Our team of designers, engineers, and researchers has a proven track record of delivering high-quality products for teams like Compound, dYdX, 0x Protocol, Euler, Messari, and Nouns.
Past Relevant Projects
- Ollio (ollio.xyz): Compound v3 Multichain Portfolio Tracker.
- Euler Vault Explorer (explorer.euler.finance): A tool to visualize Euler lending vaults and collateral relationships.
- NounSwap (NounSwap.wtf): A dApp for the Nouns DAO ecosystem.
- Compound v3 Community Subgraphs (GitHub - papercliplabs/compound-v3-subgraph): The most comprehensive data source for developers looking to integrate Compound v3 data into their applications.
- Compound v2 Dashboard & Community Subgraph (https://compoundfinance.info): Provides data transparency on the Compound v2 protocol, and the most comprehensive data source for developers looking to integrate Compound v2 data into their applications.