Develop a low-code tool to launch an omni-chain token and support multiple chains from day one.
This grant aims to provide funding for the development of a low-code tool that leverages cross-chain liquidity and create an omni-chain token. Any application can natively mint and burn a single, unified token(xAssets) across various chains supported by Wormhole. The Endpoint on Chain 1 burns the token, records the change in token supply, and creates a message request for the Endpoint on Chain 2 to mint the same amount to the user on Chain 2. This solution will allow for real-world assets to be multi-chain by default (like stablecoins) for instance Circle’s CCTP - USDC can be transferred natively from one chain to another by burning USDC on one chain and minting USDC on another, leveraging Wormhole.
Grant Recipient Eligibility:
To be eligible for this grant, the applicant must meet the following criteria:
- Have a strong technical background in software development and experience building blockchain applications.
- Demonstrate a clear understanding of the Solana ecosystem and how the proposed software will add value to it.
- Have a proven track record of delivering high-quality software products.
- Be able to commit to meeting the grant deliverables within the specified timeline.
The grant recipient is responsible for delivering the following:
- A well-designed low-code tool to launch an omni-chain token and support multiple chains from day one, aiding development on Solana.
- Integrate the tool with Wormhole to ensure cross-chain compatibility.
- Neat and concise code that follows best practices, with accurate spelling and comments where needed.
- Documentation that meets all appropriate standards for a production-grade build with details on how to use the tool and integrate it into existing applications.
- The final version of the software and all relevant documentation must be delivered within the agreed-upon timeframe beginning after the grant approval date.
This grant is intended to support the development of high-quality software that harnesses cross-chain liquidity to create an omni-chain token. The grant recipient must demonstrate their ability to deliver a well-designed and documented software programming tool or framework that adheres to industry best practices. We believe that the successful completion of this grant will significantly contribute to the growth and development of the Solana ecosystem.