Arbitrum

Link to Application

https://forum.arbitrum.foundation/t/sperax-ltipp-application-draft/21728

Council - 3/3 Yes Votes

Feedback

Wintermute Feedback) Sperax’s application was solid and scored well in several areas. They have a long history of working on Arbitrum and their products are highly composable and provide value to other Arbitrum protocols. Their goals, milestones, and KPIs are clear with sufficient justification of their grant size. Our main concern is that there is a lack of protocol demand and there has not been sufficient growth despite SPA incentives. We would’ve also liked to see some more innovation on the grant distribution side. Nonetheless, given their current TVL and the fact that rewards will benefit other Arbitrum protocols, we will be supporting this application.

404 Feedback) Sperax did a great job of aligning with the rubric by providing solid milestones, detailed KPIs & execution strategy, and adding a proportional amount of co-contribution. We would have appreciated more details on the grant justification but overall felt the grant ask is fair. We feel their product stack adds additional retention benefits and effectively enables USDs to grow outside the Demeter ecosystem. We will be supporting this proposal.

Karel feedback) "Vote FOR Sperax’s proposal.

Good proposal that scored well across the rubric. Long tenure and history on Arbitrum, grant size well justified, etc. Like many projects, TVL peaked in 2021/2022 and tapered into 2023, and has not seen much demand in recent times. However, believe second/third-order benefits driven by their composability and their grant execution plan to drive the noted KPIs (TVL and fee income) is sufficiently justified to pass this through to the DAO."