Problem: USDRIF is easy to mint, hard to sell. DEX depth is unreliable: between July and August the main pool's stable side swung $137k → $37k → $124k with total liquidity flat, and a $100k buy returned 66,466 USDRIF on 5 Aug vs 100,167 on 16 Sep. One pool has held under $6k of stablecoin for months. The only always-open exit, redemption, pays RIF and runs one way; 138,744 USDRIF (5.8% of supply) was redeemed 2 Aug–16 Sep.
Grant: $35,000 in 5 tranches, 91.4% behind on-chain outcomes, 28.6% behind a 12-month impact review. T1 $3,000 · M1 $12,000 · M2 $5,000 · M3 $5,000 · M4 $10,000.
This proposal requests T1: $3,000, released on approval, reserved for the audit. The M1 tranche ($12,000) is a separate proposal once all six deliverables below are met:
a) Contracts deployed and verified on mainnet
b) Order backend live
c) Public frontend: market and limit orders
d) ≥$10,000 USDRIF filled through redemption-backed fills, ≥25 fills, ≥10 independent addresses, full tx list published
e) Audit engaged: auditor named, whichever firm is selected; scope published; deposit paid
f) SDK, reference solver and onboarding docs published, open source
Pre-audit safeguards: approvals capped in the interface (~1,000 USDRIF per user) plus a total cap, both published before the first fill; time-bounded allowances; unaudited-contract notice; no marketing until audit findings are closed at M2. We fill M1 ourselves, so no third-party capital is at risk.
Later milestones, each a separate proposal (M1 $12,000 on the deliverables above): M2 all high/critical audit findings closed, ≥$10k settled by independent solvers; M3 ≥$400k volume (≥$50k independent, ≥$50k mint-side); M4 ≥$750k (≥$150k independent, ≥$100k mint-side, ≥$50k via TWAP), paid only after the impact review. TVL commitment: $30,000 of filler inventory (≥$10k independent) at 12 months.
Reporting: monthly on Discourse - volume by side, wallets, independent vs own filler, price improvement vs best route, time to settlement; public dashboard from M3.
Team: 1delta Labs Ltd (UK). Achim Huebl, CTO; Kevin Schellinger, CEO. In production on 40+ chains, 150+ deployments, $200M+ processed; Certora-audited Compound integration; 1st place, 1inch track at ETHGlobal Unite DeFi. DiscourseLink:https://gov.rootstockcollective.xyz/t/2608-grant-proposal-1delta-intents-permissionless-solving-on-rootstock/929 M1lestone:1
