xGov-204: Everyone Launchpad Security Audit

Abstract

This proposal seeks funding for a security audit of the Everyone launchpad, a comprehensive crowdfunding platform enabling developers, teams, and projects to seamlessly mint, sell, and distribute tokens within the Algorand ecosystem.

Engineering work for the v1 launchpad’s smart contracts, front-end interface, and back-end functionality are already complete, and have undergone extensive QA on Testnet. We are not requesting funds for any core development work – this funding request is purely to pay for a security audit.

We have communicated with all reputable audit service providers on Algorand and received multiple price quotes and timelines.

XGov funding will enable us to immediately proceed with an audit, then go live with the launchpad within weeks.

Once released, the Everyone launchpad will provide critically needed utilities within the Algorand ecosystem to kickstart funding for new Algorand projects.

By providing a reliable and user-friendly funding platform, the Everyone launchpad has the potential to significantly accelerate Algorand’s adoption, mirroring the success driven by similar launchpads on other blockchains.

Team

Information about the team members and their qualifications, including relevant experience and skills.

Jesco Brandt (@heartberg)

  • Full Stack Engineer with 5+ years of professional experience
  • GitHub: heartberg (Everyone)

Mark Crae (@dolphinkitty)

  • Product Manager / Designer with 10+ years of experience

Experience with Algorand

Jesco has been actively developing Algorand based projects for >3 years. In this time he has created ~20 PyTeal and Python smart contracts, and multiple Front / Back ends to support this. These smart contracts cover a wide range of application types, including staking, vesting, trading, and more.

Mark authored the proposed ARC-40 standard for Asset set (NFT collection) meta data configuration and verification workflows.

Together, Mark and Jesco have been building the Everyone platform (including the launchpad) and other Algorand projects for over 2 years.

Present Proposal

The Everyone launchpad will enable any developer, project, or team to mint assets and deploy dedicated token sale contracts on the Algorand blockchain.

The launchpad includes all the necessary launchpad features, but also integrates many additional features that you will not see on other launchpad platforms, for example: token locking, staking, project promotion, and community engagement, etc.
Key features include:

Accessibility and permissions

The launchpad support for both permissioned and permissionless tokens sales

  • Initially, we plan to offer permissioned launches to ensure user safety. This approach integrates a (human + AI) review step within the permissionless configuration flow
  • Support for private and public token sales – Flexible whitelisting options enable projects to control who can access and participate in their sale.
  • Public sales – enable any user to request whitelisting. Non-whitelisted users can also participate on a FCFS basis
    • Whitelist spots can be purchased or distributed via lottery / FCFS
  • Private sales – enable teams to create their own private whitelist to facilitate invite only participation in token sales

Target raise / Allocations

Teams can configure every aspect of their token sale including:

  • Hard cap / Soft cap amounts, initial supply
  • Number of whitelisted / non-whitelisted participants
  • Wallet caps for each tier of token sale participant

Token sale timeline

Teams can define the start time and durations of each phase of the token sale:

  • Whitelisting phase
  • Token sale phase – whitelisted participants
  • Token sale phase – non-whitelisted participants
  • 2x Allocation phase for all sale participants

Token vesting and claim

All purchased tokens can be claimed after the sale.
Projects can configure optional token vesting for both team tokens and purchased tokens. Vesting schedules are fully customizable, including: initial unlock, cliff, periodic unlocks.

Dashboard + portfolio

The Vesting dashboard enables users to track their token vesting across multiple project launches. This integrates with portfolio management tools.

UX

On the admin side, the launchpad’s easy to use no-code UX provides a streamlined configuration process. On the user facing side, an intuitive UX enables easy onboard, whitelisting, sale participation, and token claim.

Everyone platform

The launchpad is integrated within the Everyone platform, joining a suite of other user-friendly no-code utilities for the Algorand network.

The Everyone platform enables projects to create a sophisticated multi-page mini site to promote their launch and engage their community. Launchpad project pages include: project information and links; team info; community list with follow/unfollow functionality; NFT galleries, and much more.

The platform’s integrated approach, combining a launchpad with other key apps and services enable projects to establish a cohesive and branded presence, promoting trust and engagement within their token sale and across the lifecycle of their project.

Sustainability and maintenance

Our goal is to build the launchpad into a sustainable business, however, we acknowledge the current low-level of launch activity on the Algorand network. We believe that by providing a high quality launchpad that the community can get behind, we will be able to generate more launch and funding activity in the months and years ahead. We also assume that other ecosystem expansion drivers will help make a dedicated Algorand launchpad a viable business / utility.

We are in this for the long haul. We expect the Everyone platform to be around for many years, even in a worst case scenario we will keep the platform running fully maintained for multiple years.

Deliverable

The necessary features of the launchpad are already complete and have been extensively tested, hence we are ready to undertake the security audit. We have shared detailed information regarding our smart contract code with auditors, and have received pricing quotes and timelines.

Usage of the launchpad on Mainnet will commence once xGov funds are received and the necessary audit has been completed. We believe that reward distribution will occur on 7 July, after which auditors have indicated that they will require approx 3 weeks to complete the audit. Therefor we anticipate that the audit will be complete by 7 Aug, unless any issues need to be addressed. Allowing for all the unknowns, we will aim to have the launchpad operational on Mainnet by 30 Aug.

Delivery can be checked by performing the necessary steps within the launchpad app to configure and run a demo token sale, or the Everyone team would be happy to demonstrate the deliverables via zoom.

Prior to this, we will begin beta signup for the launchpad app before the session 4 review phase ends (5 May). And to give governors more insight into the scope and quality of the built product, we will open up access to explore and use the launchpad via Testnet, around the time that voting commences on 13 May.

Future Blueprint

Project Longevity

We are committed to the long-term development of the Everyone platform. We will continuously add new features, expand to support adjacent use cases, and ensure the platform’s economic sustainability.

Benefits for the community

Key benefits

  • Provide a new and critically needed funding mechanism for developers, teams and projects within the Algorand ecosystem.
  • Kickstart adoption of Algorand by new developers, teams and projects.
  • Promote an accessible, secure, more transparent, and inclusive launchpad participation process. We are not planning to release a utility token for the launchpad, therefor there - will be no whales that receive preferential access. We want to ensure a broad distribution of tokens from each launch to aid the long term sustainability of each launched projects
  • The launchpad fills a key missing component within the Algorand ecosystem that inhibits adoption by new developers and projects.
  • As the launchpad is where new projects present themselves, it acts as a key entry point for new users to Agorand. Consequently. we are building the product with a high user-experience to ensure that users receive a good impression of what the Algorand ecosystem has to offer.

Additional information

We look forward to collaborating with developers and partners to bring a wider range of Algorand projects to the ecosystem. Projects interested in the launchpad or partnerships can contact us at: hi@everyone.space

Can I try out the testnet version? If so, where?

Does this include any features whereby launches can be configured where some or all of the launch proceeds are locked as liquidity?

1 Like

Yes the project tokens and Algo proceeds allocated for the trading pool are sent to the DEX to create the pool. The resulting LP tokens are then returned to an Everyone lock contract. We have various additional affordances besides this, but this core functionality exists.

Regarding accessing the launchpad, as mentioned in the request text, we will begin beta sign up for the app on or before May 5th, and then provide Testnet access around May 13th. We will add access URLs to the proposal text prior to this.

The launchpad is fully functional today, the only thing that is missing are the addition of various onboarding prompts to help users navigate the platform. We are actively working on these.

Please note: The proposal text above is no longer editable. We have made very minor edits to the text in Github (just to add details), so check there for the latest version.

We’ve updated the proposal text to include more detailed info about the liquidity pool creation process.

Present Proposal

Liquidity pools

Project teams must configure their liquidity pool including LP token lock duration, prior to the token sale.

  • After a successful sale, all ALGO proceeds remain locked in the token sale contract out of reach of the project team.
  • The Everyone liquidity manager contract creates a liquidity pool via contract calls to the TinyMan API (Support for more DEXs later)
  • Trading pair funds are transferred to the pool
  • The resulting LP tokens are sent back to the liquidity manager contract where they are locked for the defined lock duration

Accessibility and permissions

The launchpad supports both permissioned (manually reviewed) and permissionless (unreviewed) token sales. This approach makes the launchpad suitable for funding a range of project types including high quality projects and lower quality memecoins. We have implemented processes to ensure the safety of each funding scenario. For unreviewed launches there are strict constraints on liquidity amounts and handling (enforced by the contract), whereas reviewed launches with doxxed teams are able to retain a larger portion of the sale proceeds for project development.

Regarding open-sourcing, our proposal states that we commit to open-sourcing all code within our audited contract, in the event that the project is sunset at some future date. This info is in the Present proposal section, not the Deliverables section as per the template. @Adri @GhostOfMcAfee

As a project that chose to develop without funding and is instead only asking for funding in the context of an audit, I understand this distinction. (ie. open source at a future event). Thank you for proactively disclosing/clarifying.

1 Like

Why would you audit something that we haven’t had a chance to even try out yet?
no testnet, no vote

We included this in the proposal text:

We will begin beta signup for the launchpad app before the session 4 review phase ends (5 May) at: [Link will be provided]

And to give governors more insight into the scope and quality of the built product, we will open up access to explore and use the launchpad via Testnet around the time that voting commences on 13 May at: [Link will be provided]

The beta sign up page has a ton of info and shows lots of UI components from the app. It should give you a good idea of what we’ve built - its a lot. We are looking forward to getting the community’s feedback :slight_smile:

The beta signup page for the Everyone platform / launchpad is now live at:
https://beta.everyone.space

Please explore and sign up in preparation for Testnet access in the near future.

The beta page provides a ton of info about the Everyone platform’s features. Our xGov proposal just relates to the launchpad audit part, however, this app is embedded within a broader set of features all intended to support users and Algorand projects across their lifecycle.

The core feature is the ability to create very flexible user and business profile pages with many customization options. These profile pages integrate with other web3 apps on the platform.

Some of the things you can do:

  • Mint tokens and NFTs (ARC-3, ARC-19)
  • Create custom NFT galleries
  • Sell NFTs directly from your personal gallery or within the integrated marketplace that aggregates NFTs from across the platform
  • Create public and private token sales
  • Create liquidity pools
  • Lock tokens with either single or vested unlocks
  • Create staking pools with either fixed or variable APYs
  • View your portfolio, which also aggregates balances from tokens locked in staking and vesting contracts
  • Build your community with the ability to follow users and projects. Many more community tools coming soon.

All of this has been built with a very high standard of user experience. The graphics that you see on the beta page are actual UI components from the web app (not images). Everything shown on the beta page is built and working, excluding the Analytics dashboard.

We hope this provides more context to governors before the vote as to the quality of product that we are bringing to Algorand.

One thing to note, we understand the challenges of building a viable business within a small network like Algorand, that is why we have built features that expand our addressable market beyond the network. The user and brand profile pages will soon support both web2 and web3, so that we can onboard users from outside the ecosystem who just need a flexible profile page (compete with Linktree, etc), and then down the road we can convert these people to Algorand users. We have also built social and community tools at the core of the product to aid in word of mouth marketing. We see all of this aiding the expanding of the network.

Please check out the site, sign up, and let us know what you think. Please follow us on X at: https://x.com/everyone_algo (we haven’t been very active on socials recently due to workload, but we will be starting soon.

There is a ‘Share website’ button at the top of the site. It would be great if you can use this :pray: :heart_eyes_cat:

3 Likes

Congrats on passing!

Thanks. We’re looking forward to getting Everyone released very soon :slight_smile:

All the great projects receiving funding this session, combined with the Python update should have a big impact in the ecosystem!

Check out the Everyone beta site and sign up for Testnet here:
https://beta.everyone.space

Follow us at:
x.com