Funded [DBGrow-004] FAT Development 3

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Please find grant application attached.

As required by document 107 that governs the Factom grant process, this is the thread for grant proposal FAT Development 3.

The review process starts on 3rd May, so please refrain from starting public review or submitting questions before that time. If you notice clear errors in the proposal you can contact the author of the grant proposal directly.
 

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Thank you for your grant submission. I'm asking everyone these initial questions:

1. What specific date will you begin work on your grant?
2. What specific date will you be done with work on your grant?
3. Do you commit to providing regular updates on your grant in the grant tracking forum?
4. Please link to past grants your group has taken part in, if any.
 
Hi @David Chapman

1. We will begin this grant on June 1st.

2. This grant will conclude on August 31st

3. Yes. On the first FAT grant we had roughly monthly reports, and the second grant we had a halfway (1.5 month) report. This grant round we will formalize a monthly report cadence, unless there is demand otherwise. It is sometimes too easy to rely on the fact that we are so active on the FAT discord having conversations in the open, and forget just how important it is to still give reports that are easily digestible to the rest of the community that doesn't follow FAT conversations. It is important to us that this is as easily accessible to the community as possible, so we plan to nail down monthly reporting this round.

4.
Legal Grant: https://factomize.com/forums/threads/legal-review-grant.354/
External Website Developer: https://factomize.com/forums/threads/dbgrow-factom-protocol-website.1053/
FAT Development 1: https://factomize.com/forums/threads/factom-asset-token-protocol.1054/
FAT Development 2: https://factomize.com/forums/thread...s-002-fat-protocol-development-grant-ii.1570/
 
Hi @Anton Ilzheev

Our first grant is completed, and our second grant is scheduled to be roughly 2/3 complete and we are on track to finish our set of deliverables for the second grant.

All work on FAT is released publicly, and discussions around FAT can be tracked on the FAT Discord: https://discord.gg/jDV9Ux

The current state of the FAT protocol can be viewed in our last update from 2 weeks ago: https://factomize.com/forums/threads/fat-development-grant-2-update.1880/

A quick summary:
Currently FAT is already public and open for anyone to build on, issue tokens on, and extend its technology, and is thus in a sense "publicly released". FAT is also developed in a very open manner where anyone can join and become core FAT developers. We are currently transitioning the core FAT technology stack to a beta state that we feel comfortable developing applications on. A technology like this will never be a single public release and then done, though. More work needs to be done to continually harder the core of the FAT technology stack, expand the ecosystem, and work toward higher assurances of forward compatibility with new updates and expansions of the technology. While DBGrow cannot set timelines for FAT alone, we see the end of this year when we know there will be multiple projects live on FAT as a marker for when we need a very robust protocol and ecosystem, with high assurances of forwards compatibility.
 
@Julian Fletcher-Taylor Thanks. I do not follow FAT Discord, so I expected some kind of announcement about FAT ready to use for Factom community members with API specification, guides and etc. — for all people, who do not follow FAT Discord.
I think you should make an announcement and tell people, how they can use FAT, if it is ready to use.

Otherwise it looks like as an infinite work on the protocol, that was never publicly released, and you suggest an improvements (FAT Smart Contracts) to the protocol, that was never released. (Don't consider it as criticism, I just tell how it looks like from my side — the person, who doesn't follow FAT Discord).
 
Thanks @Anton Ilzheev . Yes, after the course of grant 2 is finished which moves FAT to a state that we believe is ready for some development to begin, we plan to do exactly that :)

So far we have had such an announcement for the wallet, announcing a public beta version, along with a timeline of when an announcement of an official release will come. Feel free to test it out, along with the rest of the FAT technology stack!
 
Thank you for submitting grant.

You write you will take on new developer for FAT. Does this mean that we will see these kinds of grants on a regular basis going forward paying for "core FAT development" done by this developer?

Do you expect regular funding to keep this developer on with you?

Thank you.
 
Thanks for the question @CryptoLogic

We know that we cannot expect future funding, we can just try to continue to do a good enough job that people want to fund us.

Building something like tokenization and smart contracts cannot really be a one off development project. That's how you build a great technology that no one uses and over time gets outdated. To build this successfully, we need multiple developers designing, building, reviewing, testing, and optimizing the protocol, and we need constant pressure to build the ecosystem and fit the technology into the ever expanding ecosystem. Tokenization and smart contracts become increasingly useful and attractive as more projects are built on the same platform.

If the factom community believes that building out a robust tokenization and smart contract ecosystem for the factom protocol is worth the value, and believes that we are the best suited to continue to take lead on that, then we will continue to seek to harden and expand the protocol and ecosystem, and at the minimum cost we can for what we deliver.

You can see from the budget that we are doing everything we can to minimize these costs, and we continue to work toward different funding possibilities. We know we need to do this over time, as we are up against projects with orders of magnitude more funding. This entire grant is for less than DBGrows portion on FAT Development 2, even though we are bringing in a great new developer to work on FAT, and we can’t expand the protocol like that forever.
 
This grant seems to do everything I look for in terms of value add.

1. It performs tangible, important work with predictable results and deliverables.
2. It recognizes the outcome of the grant is a boon to all those involved with the Factom protocol.
2. This grant recognizes said boon and so doesn't charge ridiculous FTE costs. The value for money is actually pretty nice compared to many other grants in this round.
 
FAT is a huge undertaken and is absolutely essential if we are to compete with other platforms. Without exceptional smart contract and tokenization capabilities, we'll never be in the same league as the Ethereums of the world. That has huge ramifications from a Factom enterprise-adoption standpoint. That risk is completely unacceptable to me considering all the hard work everyone in this community has put forth. If our goal is to truly be the Data Layer of Web 3.0, then this grant is essential.

Congratulations @Julian Fletcher-Taylor on the successes with the current clients as well as all the interest from potential clients.
 
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