This proposal seeks to:
- Allocate $2035/mo to Chainstack for Infrastructure Services to manage 5 of Hubblenet’s Avalanche Nodes.
- Allocate $2000/mo to recruit RedStone to provide and maintain reliable oracle feeds to the Hubblenet.
- Engage Avascan to provide and maintain the Hubblenet Explorer and allocate $1099/mo, in addition to a variable indexing fee. 50% of this payment will be transacted through vested Hubble tokens, valued at the seed round price.
- Onboard Chainstack for Infrastructure Services to manage 5 of Hubblenet’s Avalanche Nodes
Although validation stake for three of the nodes has been provided by BENQI, they will not run the nodes. ChainStack, as a service provider, will manage these nodes provided by the BENQI team.
As part of the Service Level Agreement with the DAO, Chainstack will manage a total of 5 nodes:
- 3 Validator nodes
- 2 RPCS:
- 1 Archival Node
- 1 Full node
As part of the proposed partnership, Chainstack will offer a suite of critical services designed to manage these 5 Hubblenet nodes. They will handle automatic upgrades to AvalancheGo on the nodes. This service will keep our network running on the latest, most efficient version of AvalancheGo without requiring manual intervention, thus saving time and resources.
Chainstack will coordinate updates for our subnet version with an emphasis on minimizing downtime. Their expert team will plan and execute updates to ensure Hubblenet continues to run smoothly, and any potential interruptions are minimized or avoided entirely.
Chainstack will provide monitoring as a service. This will involve continuously tracking the performance and health of our subnet, identifying potential issues before they become critical. With Chainstack’s monitoring services, we can be confident that our subnet will maintain high availability and performance.
What is Chainstack?
Chainstack is an enterprise-grade blockchain managed services platform. They provide scalable blockchain management solutions that enable teams to build and scale blockchain applications.
Authorise Cosmic Cactus LLC to sign contractual agreement with Chainstack.
Cosmic Cactus LLC was incorporated through HP022 for the purpose of entering into off-chain contracts on behalf of the DAO.
- Recruit RedStone to provide and maintain reliable oracle feeds to the Hubblenet.
The Hubblenet is an appchain built as an Avalanche Subnet. Since Hubblenet is a new blockchain, it requires an integration with a data feed provider. This will allow Hubble Exchange, the futures exchange built on Hubblenet, to access price feeds, thereby establishing the index price of the assets it lists. A protocol built on a shared chain (like the Ethereum network) can leverage readily available oracle feeds from Chainlink and other oracle providers since they have already established an integration with these chains. Since Hubble Exchange is on its own independent app-chain, it requires the integration of an oracle solution to push feeds. This integration is critical and will ensure the correct functioning of the funding rate mechanism, the liquidation engine and other essential elements of the exchange.
This proposal aims to secure a reliable and decentralized oracle provider for Hubble Exchange. RedStone has been chosen for this assignment due to their vast experience in creating custom oracle solutions for a variety of chains. Their client portfolio includes renowned protocols such as Voltz, Delta Prime, Yield Yak and more.
RedStone will develop and deliver all necessary oracle feeds to ensure the smooth operation of the Hubble Exchange and its markets. In return, RedStone will receive:
- A consistent monthly fee of $2000, covering all feeds that the Hubble Exchange may need, provided these are already available to RedStone.
- For any custom work necessitating the creation of a new feed not readily accessible to RedStone, an additional charge may be incurred.
The payment will be transacted in USDC.
- Engage Avascan to provide and maintain the Hubblenet Explorer
The Hubblenet is an appchain built as an Avalanche Subnet. Contrary to a decentralized application built on a shared chain, which can leverage readily available explorers such as Etherscan or Snowtrace, a new blockchain like the Hubblenet requires the support of a custom dependable block explorer. This will ensure a high degree of transparency and accessibility to crucial data, thereby facilitating a superior experience for both traders and developers.
Recognizing the substantial expenditure and commitment necessary to independently construct and sustain an explorer, this proposal aims to secure a trusted Block Explorer provider for the Hubblenet. Avascan has been selected for this role based on their extensive experience in providing block explorers for almost every public subnet to date.
Avascan will establish a block Explorer for Hubblenet across both of their platforms: Avascan and Routerscan.
As compensation, Avascan will receive:
- A stable monthly fee of $1099.
- A variable indexing fee that is contingent on the volume of transactions. More specifically, $2 per million transactions to date and $239 per million transactions within the month.
Payment will be made in an equal split of USDC and vested Hubble tokens. The Hubble Exchange tokens will be valued according to the seed round valuation.
The proposed vesting structure is as follows:
10% vests at TGE, then 1/24 vests every month for 2 years.