Grant Proposal: Integration of Abracadabra protocol in rotki

💡Idea Discussions
1

Hello wizards!

I am Lefteris, the founder of rotki, the opensource portfolio tracker that protects your privacy and enables you to own your data.

Some quick links:
Website: https://rotki.com/
Code: GitHub - rotki/rotki: A portfolio tracking, analytics, accounting and tax reporting application that protects your privacy
Twitter:: https://twitter.com/rotkiapp
Discord: Rotki (have DMs open. There is a captcha challenge)

I would like to open a funding proposal for the work to integrate Abracadabra cauldrons (and more!) tracking in rotki. I am making this proposal after a prompt from @0xmerlin who suggested we track the protocol in rotki. They also opened an issue about it in our Github: Add support for the Abracadabra cauldrons · Issue #4132 · rotki/rotki · GitHub

Looking at the stuff outlined in the issue it would make sense to tackle all ETH L1 stuff since we can do it now. For other chains it should be done when we got multichain ready.

It would make sense to separate the degenbox/bentobox from the cauldrons and the staking as different issues. We can do historical profit, but only if it’s realized profit. So if it’s with transactions that happened. Unrealized potential profit in a selected time range is not possible without an archive node and this is something we do not yet have in the pipeline.

For cauldrons support we estimate:

2 weeks, 2 backend devs
2 weeks 1 frontend dev.

For degenbox/bentobox it seems a bit more complicated and we would probably need to do more work.
3 weeks, 2 backend devs
2 weeks, 1 frontend dev

For Spell staking I think it should be a bit easier, but still have not had time to look at the code and protocol to be certain. A rough estimate is:
2 weeks, 1 backend dev
2 weeks, 1 frontend dev

Weekly salary for a dev is $2,084

So the sum would be:

For cauldrons:
6 * 2,084 = $12,504
For degenbox/bentobox:
8 * 2,084 = $16,672
For spell staking:
4 * 2,084 = $8,336

A 45% markup will be added on those for all extra work we may need to do, unexpected expenses, research but most importantly all other expenses these will incur for us such as taxes. We are a German company.

So with that the total requested sum is:
Cauldrons: $18,130.8
Degenbox/bentobox: $24,174.4
Spell staking: $12,087.2
TOTAL: $54,392.4

We would need this paid in stables as any other arrangement depends on token price and if it’s not paid out immediately we would be exposed to price fluctuations.

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2

Il like the idea but the price seems to be expensive just for tracking

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Hey Phil,

Thank you for your comment!

Perhaps it was not clear from the proposal but this also includes decoding the historical events and calculating historical profit/loss for each one of the above and combining it with the rest of the PnL reports of rotki. Not just tracking of current balances.

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4

thx for your reply. Ok i see but just for my curiosity, and this answer can help other member to have an idea, can you explain the interest to have this?

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5

This would be really awesome to have abracadabra platform in rotki with features like tracking and P/L calculations. rotki does it best.

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6

Hey CryptoPhil,

Absolutely.

So I will assume your question is not about why you would need tracking and accounting/PnL for your crypto activities. The answer to that should be obvious. But why would you need a local app like rotki for this?

So the TL;DR of the USP of rotki is that it:

  1. Is transparent in what it does and how it calculates what it calculates thanks to being opensource
  2. It protects your privacy as it’s a local application, and it’s opensource so you can be sure no shenanigans happen with your data. Nobody can sell it or leak it.
  3. You truly own your data. It’s all saved locally and not in a centralized server like with other accounting solutions.
  4. You can always use the software and nobody can deplatform you. You will always be able to use the last version of rotki, even if we as a team die in a horrible accident or something :sweat_smile:

For a more in-depth explanation of those ideas check out my recent presentation in EthCC: Lefteris Karapetsas - rotki: showcasing advantages of opensource local apps - YouTube

@tifus: Thanks a lot for your kind words of support.

1 Like