Instadapp Governance Proposal: CiMPLE
CiMPLE (http://www.cimple.cc) is a crypto multiplying protocol leveraging the Ethereum network. It is a layer on top of InstaDapp.
CiMPLE is a tool to implement strategies and calculations to multiply your crypto assets. It defines an ideal trading curve based on a predefined liquidation price, leveraging upon the dips, then selling just enough when the price goes back up to be able to buy more on the next dip. We call this strategy “multiplying” because over time you end up with a multiple of ETH, WBTC, etc. compared to what you started with. Users can also make self-insurance plans to prevent liquidations and history graphs. Further, CiMPLE features a simple yet powerful history tab where users can get detailed information on all their transactions.
I propose the Instadapp Treasury/Community Growth Fund allocate 1,500 INST/month for 12 months that will go into the CiMPLE treasury and be used for rewarding contributors to this project.
At first, CiMPLE will be a tool that existing InstaDapp users can use. Since InstaDapp users should be familiar with Instadapp, they can use that interface for any features we haven’t built into our UI yet. But eventually, the goal is to onboard new users into the CiMPLE ecosystem. Every new CiMPLE user would be creating a new InstaDapp smart account and would be adding to the TVL of InstaDapp.
Everything CiMPLE is doing can be done on InstaDapp already, but it requires spreadsheets and hours/days of doing math. I know because that’s how we’re still trading today. Our team started by building exactly what we wanted for ourselves and realized many people can benefit from these strategies and calculations. So, we decided to open it up to everyone and turn it into a DAO (Decentralized Autonomous Organization). When CiMPLE goes live, once you set up your ideal trading curve, everything is done for you. Just go to the site and click a button (then verify in your wallet). It’s that CiMPLE (pun intended). No more spreadsheets. No more complex math.