Grant Proposal: Detable

Grant ID: 8685e9zca


The most common and used stablecoins’ contracts have blacklisting functions what we like to call “evil functions”. Institutions behind those stablecoins are able to blacklist any user from the contract and to get/freeze their funds.

This is far from being decentralized. We invented something we call “decentralization index” and are working on its formula. This formula has some parameters like; number of blacklisting events, if the contract is proxy, if so if it is upgraded, if the type of collateral is transparent, and etc. We have several subgraphs deployed to the hosted service and thanks to that we can track the blacklisting and proxy change events easily.

In addition to this, we will provide more common numbers like price, marketcap, TVL too. Also, we will publish official reports on stablecoin types, their role in the space, news about stablecoins and so forth…

I have read and agree to the privacy policy:

Describe what your project does or is aiming to do in 50 characters or less:
Stablecoin dashboard aiming to rank stablecoins by how much decentralized they are

How far along are you?:
We are almost done with the data part; deploying the subgraphs, fetching the data from common APIs. But we don’t have a front-end developer in the team, we are planning to outsource them to complete the product.

Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you’re making?:
We’re in this ecosystem for 2 years and the philosophy of decentralization and transparency is the key reason why we are here. However, to see the fact that things are not ideal at all, made us to think of a solution to make people more concious about it.

What’s new about what you’re making? What substitutes do people resort to because it doesn’t exist yet (or they don’t know about it)?:
Notion of “decentralization index” and also ranking stablecoins by only their level of decentralization is completely new to the space by us.

What’s your vision for how your project will impact The Graph and/or web3?:
I, as a subraph developer, do think that The Graph and its technology is highly underrated. We’re planning to spread the word by mentioning the tech stack we use. That’s why we hope that we can contribute it to be known better.

How will you measure success?:
At the first stage, by the numbers we get from the website. But ideally, our ultimate goal is to make decentralization as a key metric for both a stablecoin and also any product built in web3.

What milestones will you achieve in the coming weeks/months, with or without the grant?:
We got accepted to X-Founders bootcamp, that is a 1-month start-up school in Antalya, Turkey. We will get education in business, growth, marketing, fundraising, and etc. Also during the camp, we will continue to build the product. If we can find enough resource to hire a front-end developer, we’re aiming to launch the product in 3 months.

Please select who you think will benefit from your project?:

How much funding are you looking for? (USD):

Provide a breakdown of your requested funding:
We urgently need a front-end developer and a designer to come up with a functioning and modern app. That’s we decided to apply for the grant.

Have you applied for (or already received) funding from somewhere else?:

Can you share any information about current/past web3 experience?:
I’ve been working as a subgraph developer in a company (Merlin by VALK) building a DeFi portfolio tracker for 1 year.

Why are you interested in contributing to The Graph and/or web3?:
I use it, I love it! :slight_smile:

Are you applying as a team or individual?:

What type of grant are you pursuing?:
Project (one-off)

Please select the category your project best fits into:
Dashboards & Analytics

Primary Community Poll

Do you fundamentally support this grant application, knowing that the final scope and grant amount may differ from the requested proposal?
  • Yes
  • No

0 voters

Grant Committee Vote

Do you recommend this grant to the DAO?
  • Yes
  • No

0 voters

I am not sure but your proposal lies in a tooling grant, any DAO member may correct me if i am wrong.

You can submit your proposal from this link to the Graph Foundation(After any DAO member confirms): The Graph: Grants Application

Hey! As we’re not building a tool, we decided to go for the community grants.


Thank you for submitting your proposal. After review of the content, this appears to be a tooling (dashboard) grant application and is therefore not within the scope of community grants that the Graph AdvocatesDAO oversees.

You can submit your proposal directly to the Graph Foundation following this link: The Graph: Grants Application. Good luck!

Additional feedback:

The community is not involved in any way and also this grant is not aimed at them, so this proposal is more technical and should be handled by The Graph Foundation.

Continuing the theme of additional feedback, although the proposal is interesting, it is quite controversial. Although you talk about decentralization, you should keep a few things in mind. Namely, liquidity (not all stablecoins have a high level of secured), support by decentralized and centralized protocols, risk of hacking, popularity and marketability, etc.

Thanks for your great feedback! But in the The Graph grant application, it asks who will use the tool and options are: developers, indexers, delegators, and curators. We weren’t sure if these options are suitable for us. That’s why we chose here.