Arbitrum

Link to Application

https://forum.arbitrum.foundation/t/contango-xyz-ltipp-application-draft/21689

Council - 3/3 Yes Votes

Feedback

404 DAO Feedback Contango presented a robust application that features a novel product stack, strong usage metrics and continued alignment with Arbitrum. We also applaud their extensive data provided and thorough execution strategy that was clear and trackable. Current traction looks to be picking up heavily and their grant ask is reasonable. We will be supporting this application.

Wintermute Feedback Contago’s application was clear and concise in describing its objectives, milestones, and KPIs; all of which were sufficiently justified through reasonable calculations. The protocol itself has seen strong growth since its launch and offers a unique product for the Arbitrum ecosystem. Their incentive mechanism is okay but still gameable by someone remaining delta-neutral through a separate trading venue. We would’ve liked to have seen a better reward system that attempts to encourage activity instead of just holding an open position for a long period of time (e.g., PnL Trading competitions). Lastly, given their protocol is built on top of other DeFi primitives there are strong second-order effects from activity on the protocol. We will be supporting this application.

Karel Feedback

Vote FOR Contango’s proposal.

Good proposal that ranked well on rubric + protocol has seen meaningful growth on Arbitrum since launch. Would have liked to see more granularity applied to grant milestone and additional KPIs to be tracked to assess performance. Wintermute’s suggestion re: running a PnL trading comp as an additional incentivization strategy is sound!