Arbitrum

Link to Application

https://forum.arbitrum.foundation/t/apx-finance-ltipp-application-draft/21744

Council - 3/5 Yes Votes

Feedback

GFX Feedback We found it interesting that the applicant plans to combine the liquidity from BSC and Arbitrum (to Arbitrum’s benefit as the smaller market). The grant plan generally scored well all around. We recommend this grant be approved.

Karel Feedback Vote FOR APX Finance’s proposal.

Strong proposal that scored well on rubric. Protocol has great traction on BSC and as evidenced in their various dashboards, and is an opportunity to draw a net new market to Arbitrum. Would have liked to see the following: (i) more granularity in milestones to highlight other key KPIs applied weekly/biweekly instead of monthly; and (ii) more detail behind stickiness strategies as they lightly touched on (centered around community and product delight) with a focus on rewarding ARB holders vs. driving stickiness of users/usage/liquidity + touching on strategy after incentives end

404 DAO Feedback APX scored well across a variety of categories and presented a thorough application. Links for team members would have been appreciated to verify the content they have presented. We felt their trading competition left a lot of details out relating to sybil attacks & wash trading. We appreciate the attempt to make the trading competition social in creating teams, but focusing around a volume based challenge rewards larger users to come together to maximize their allocation. Unfortunately we will not be supporting this proposal

GMX Feedback The proposal outlines a detailed plan for increasing TVL and trading volume on Arbitrum, accompanied by clear objectives and execution strategies. However, the milestones set are too low. Currently, the proposal suggests spending on incentives to create a $5 million pool on Arbitrum, but most trading is expected to occur on BSC rather than Arbitrum. While the team trading contest is a novel and promising idea, unfortunately, we cannot support the proposal.

Wintermute Feedback APX Finance’s application was thorough in their justification and details. They have proven their ability to natively run their own incentive programs which has worked out well. The unification of cross-chain liquidity will be a win for Arbitrum and their execution strategy seems sufficient. Their product has seen great traction outside of Arbitrum and we are hoping that this grant will be able to migrate existing users. We would’ve liked to have seen a PnL Trading tournament alongside their trading volume tournament to encourage more organic trading activity. We also don’t really see the need for the ARB holder incentives, but it will be interesting data nonetheless. Overall, we believe this application is solid enough to present it to the DAO.