Proposal for Starlay Finance deployment on Acala Network

Proposal
1

Starlay Finance deployment on Acala Network

Title

Starlay Finance deployment on Acala Network

Author

@SeiyaChida (Starlat Chan Initiative)

Reference

Summary

SCI is excited to announce the next phase of our expansion, this time into the Acala Network ecosystem. The final decision to proceed will be made through a community vote among Starlay stakeholders.

Motivation

Our goal is to leverage Polkadot’s Cross-Consensus Message Format (XCM) functionality by deploying our platform across multiple parachains. Introducing Starlay to the Acala Network is a strategic move to widen our user base, benefiting all parties involved - the Acala Network, Astar Network, AlephZero and Starlay Finance.

Specification

Benefit

  • Expanding to Acala Network will diversify DeFi offerings, attract new users with cross-chain functionality, and enhance the overall experience.

Cost

  • SCI handles the cost of implementation
  • A grant from Acala Network will be used for our audit cost and the remaining will be back to the Staraly Treasury

Timeframe

Milestone 1 - Preparation for Starlay EVM Testnet Launch on Acala Network (4 weeks)

  • Technical Preparation:
    • Conducting integration testing with wallets, oracles, and relevant services.
    • Performing user interface testing on the Acala chain testnet.
    • Deploying and adapting smart contracts for the Acala chain.
    • Evaluating and integrating token listings for the Acala network.

Milestone 2 - Starlay v2 Mainnet EVM Launch on Acala Network (1 week)

  • Technical Execution:
    • Integrating wallets, oracles, and services with the Acala mainnet.
    • Deploying smart contracts on the Acala mainnet.

Next Action

We will put the proposal to a vote via Snapshot in 3 days

Voting Schedule

Snapshot Voting: Dec 11th, 09:00 UTC - Nov 14th, 09:00 UTC.

Voting Option

YES - Approve the proposal
NO - Reject the proposal - Finalizing token listing evaluations and integration.