Arbitrum

Link to Application

https://forum.arbitrum.foundation/t/bebop-ltipp-application-draft/21419

Council - 3/4 Yes Votes

Feedback

GFX Feedback We thought this was a very interesting grant. It offers a fun incentive mechanism with the prize box. Unfortunately, in a (correct) attempt to mitigate sybil farming of that prize box, it would be restricted to existing accounts. That dramatically narrows the focus of the grant, since it’s no longer able to use its most interesting mechanism to acquire new users for Arbitrum, and instead must make it up with increasing the amount of activity of existing users. In the end, the score was not high enough to recommend approval, but we strongly encourage the applicant to reapply to future grants cycles, particularly if they can find a way to retain sybil resilience and also target new users.

404 DAO Feedback Bebop presented a very thorough well written application. They scored well across most of the rubric; however, their milestone section could’ve been improved greatly to include trackability and focus on increasing activity. Due to the nature of the execution strategy, pairing usage incentives with increased solvers for best execution, as well as their strong justification, fair grant ask, and current traction we will be supporting application.

GMX Feedback Bebop, a DEX aggregator, has a considerable user base on various Layer 2 solutions, positioning them well to attract users from other L2 platforms to Arbitrum with the proposed incentives. Their unique incentive mechanisms, including gasless transactions and mystery box campaigns, add an unique aspect to their proposal. Moreover, Bebop offers easy integration for other projects through their APIs, enhancing composability within the ecosystem. The introduction of their aggregation system, JAM, aims to optimize trades for users, further contributing to their appeal. While the grant size is deemed somewhat high, there’s confidence in Bebop’s ability to deepen their presence within the Arbitrum ecosystem using the 400k incentives. Although it would have been preferable for them to demonstrate success on Arbitrum with a smaller grant initially, the overall consensus is to approve the proposal, acknowledging its potential to drive volume and engagement within the ecosystem.

Karel Feedback Vote FOR BeBop’s proposal.

Strong proposal that scored well across the rubric. Has demonstrated meaningful adoption across L2s with traction on Arbitrum ready to be scaled. Highly composable with other Arbitrum DeFi protocols. Meaningful target milestones/KPIs to grow volume and that are well justified relative to recent traction on Arbitrum without incentives to highlight ability to scale up from here. While not disqualifying aspects, would have liked to see the following adjusted: (i) slight reduction in grant size (300k); (ii) more detail around the Mystery Box mechanic on proposed allocation of the ARB and mechanics; and (iii) a rebalancing from the ARB Mystery Box allocation to another incentivization mechanic that can encourage new user growth (given the 1-month requirement for account age discourages new users from being able to access 70% of the incentives).