DLC-Link application

[Akibalogh]

Project Abstract

The DLC.link project aims to implement Discreet Log Contracts (DLCs), an innovative technology designed at MIT that allows native Bitcoin integration in a secure, decentralized manner. As Bitcoin does not inherently support smart contracts, financial activities such as lending and trading are currently fraught with risks due to the need for custodians or bridges. DLC.link endeavors to circumvent these limitations by introducing a "trustless bridge" that enables these transactions through on-chain escrow, thereby preventing potential losses due to custodial failures and bridge hacks.

The project's core offerings include a simple wallet integration library for third-party Bitcoin wallets, smart contract libraries on various platforms for seamless integration into web3 decentralized applications, an attestor application for added security and resilience, and developer tooling such as a Health Monitor system and integrated private key vaults. Furthermore, the platform seeks to integrate with the Substrate framework to take advantage of the shared security and interoperability of the Polkadot and Kusama networks. DLC.link aims to revolutionize cross-chain communication, enhance Bitcoin liquidity on other chains, and provide Bitcoin users with increased utility for their assets.

Grant level

• Level 1: Up to $10,000, 2 approvals
• Level 2: Up to $30,000, 3 approvals
• Level 3: Unlimited, 5 approvals (for >$100k: Web3 Foundation Council approval)

Application Checklist

• The application template has been copied and aptly renamed (project_name.md).
• I have read the application guidelines.
• Payment details have been provided (bank details via email or BTC, Ethereum (USDC/DAI) or Polkadot/Kusama (USDT) address in the application).
• The software delivered for this grant will be released under an open-source license specified in the application.
• The initial PR contains only one commit (squash and force-push if needed).
• The grant will only be announced once the first milestone has been accepted (see the announcement guidelines).
• I prefer the discussion of this application to take place in a private Element/Matrix channel. My username is: @_______:matrix.org (change the homeserver if you use a different one)

[CLAassistant]

All committers have signed the CLA.

[Noc2]

Thanks a lot for the application. Your formatting looks pretty good, but could you nevertheless stick to the template? This way, we can ensure that you have covered all the mandatory fields, like, for example, the default deliverables of the milestones (0a. to 0d.) as part of the application. Also, ideally, the deliverables contain as many technical details as possible (e.g., programming language/framework, functionality). These are the requirements of our contracts, and we need to be able to evaluate them. For example, a deliverable like "2b Testing" is hard for us to evaluate since it could theoretically mean that you looked at the code for 2 minutes and said everything works ;-)

[Noc2]

I'm closing this application due to inactivity. Let me know if I should reopen it.

[Akibalogh]

Thank you @Noc2 . Apologies for the delay.

On our end, we've been heads-down, focusing on our launch to mainnet on Eth and Stacks, targeting mid-Oct. We've also won a grant to build ordinals support into DLCs, so we're looking to launch that in Q4. Also, we're closing a new funding round this week & next week.

Let me get back to you later in Q4, or early next year. We'll be in a better position to look at adding support for new chains once we're live on mainnet. I will be in touch with revised changes then!