{"signature": "0xb7f12625ced167bc99095b6426074a2b0608f4281f6491cbb00bf3c7a3c613882d4f75f6716a1eae2966ba289a74f95afaf0e100934a1cbc176438e3198798591c", "application": {"round": "0x6142eedc06d80f3b362ce43b4ac52fad679dc850", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "vF4DCNNzapllVilSHTsutflsUjQeHQMhusEN7F1D14Zxwygtpf43ObYFWwh9IL8f", "encryptedSymmetricKey": "6b609af2b6c57f4c9bd304b4884108fec2aa2b7d481e159b3b0e05242c8d15f70dfdfa84d8be537cbfc099837dd3c80c257e8fbf7947919beb1c2dc6100d53b9e833582feecc961f62aff72adc60f0e8f34026fdf70fbdf74f1d0a0b0b86239760a757cc580d26c715e2c4ff59135587725561ecb27730f49544ce093cb02a3e000000000000002074eb94a402407cf23318398a427401249d574f496bd60b0285cf68994030792191edddb57bd35b246547705df2d23b91"}}, {"type": "paragraph", "answer": "We are building a novel Permissionless Automated Liquidity Management Toolkit. \n\nIt's a modular contract system that empowers users to automate position management for concentrated liquidity on Uniswap in a permissionless way. \n\nCompared to current solutions on the market, it doesn't require the involvement of the protocol team to launch new pools/strategies. Also, the system incorporates the new approach to MEV/price manipulation protection via special intermediary oracle implementation.\n\nThe system revolves around three fundamental modules:\n\u2013 ammModule: This module abstracts the toolkit's operations from the specific implementation.\n\u2013 strategyModule: Responsible for implementing the strategy logic, dictating how the user's positions will be rebalanced over time.\n\u2013 oracle: Serves a dual purpose by safeguarding transactions against MEV (Miner Extractable Value) and providing the unmanipulated pool price.\n\nUser Interaction Workflow:\n\u2013 The user chooses a network, AMM, strategy, and a pair of assets for operation.\n\u2013 The user sets or selects recommended parameters for strategy rebalances and deposits his positions in the Toolkit.\n\u2013 If the conditions specified by the logic within the strategyModule are met, anyone can initiate a rebalance for the user's positions.\n\nDuring the rebalancing process, the strategy module calculates the expected new positions and the capital distribution among them after the rebalance. The oracle plays a crucial role in protecting against price manipulation during rebalancing by detecting potential manipulation in the pool based on observations.\n\nIn essence, each user can create a flexible, customized set of positions, select a strategy, and define its parameters. Moreover, users can opt to allow others to provide liquidity to their specific set of positions, earning LP tokens in return.\n\nThe project is already in the MVP stage; the development will be finalized in 1-1.5 months.", "hidden": false, "question": "Application detail", "questionId": 1}, {"type": "number", "answer": "250000", "hidden": true, "question": "Amount requested (in $)", "questionId": 2}, {"type": "dropdown", "answer": "ARB", "hidden": true, "question": "Payout token", "questionId": 3}, {"type": "short-answer", "answer": "This funds request will help to perform the audits and get the new Permissionless ALM Toolkit live on Arbitrum for Uniswap.", "hidden": true, "question": "How do you account for this fund request?", "questionId": 4}, {"type": "paragraph", "answer": "We aim to conduct two comprehensive, independent audits of our system to ensure the highest level of security and reliability.\nPart of the funds will also be allocated towards initial liquidity bootstrapping and incentivizing deployed strategies.\n\nBudget Breakdown:\n\n\u2013 Tier-1 System Audit: $135,000\n\u2013 Tier-2 System Audit: $75,000\n\u2013 User Incentive Program: $40,000\n\nThe audits will take 2-3 weeks and will be conducted in March.\n\nIncentives will be launched after the protocol deployment and distributed between initial strategies.", "hidden": false, "question": "How will you use these funds? Please make a detailed plan for expenditures.", "questionId": 5}, {"type": "dropdown", "answer": "Liquidity Management", "hidden": false, "question": "Which RFP is this project covering? ", "questionId": 6}, {"type": "short-answer", "answer": "The protocol is focused on Uniswap liquidity management in a permissionless way, it's the main application of the system.", "hidden": false, "question": "How do you think this project fits in with Uniswap?", "questionId": 7}, {"type": "paragraph", "answer": "The project enables users of the Arbitrum ecosystem to deploy the strategies for any pools on Uniswap permissionless with their parameters for the strategy via the Mellow interface. \n\nThere are several major applications of this solution:\n\u2013 For protocols: deploying strategies for their tokens and attracting liquidity from their users\n\u2013 For liquid funds: managing their positions for any pairs with their specific set of parameters\n\u2013 For developers: developing new types of strategies using Mellow ALM Toolkit infrastructure\n\u2013 For end users: providing liquidity into public strategies deployed via Mellow ALM Toolkit\n\nAlso, besides Liquidity management category the protocol partially covers Derivative Protocols category as it allows for the creation of delta-neutral and other types of strategies by other teams.\n\nThis will enrich the Ecosystem with a robust and comprehensive system for liquidity management automation, which should lead to increasing user's involvement into LPing.", "hidden": false, "question": "What benefits will this project bring to Uniswap in the Arbitrum ecosystem?", "questionId": 8}, {"type": "short-answer", "answer": "No, we are planning to perform two audits. The audits are already preliminarily discussed with Chainsecurity and Decurity. Quotes have been received.", "hidden": true, "question": "Has this project undergone a security audit? If not, are you planning to undergo it?", "questionId": 9}, {"type": "short-answer", "answer": "The project will be open sourced with a BSL license.", "hidden": false, "question": "Is this project open-source? (If yes, share the repository link).", "questionId": 10}, {"type": "paragraph", "answer": "The project is entirely built using Solidity.\nThe system incorporates Uniswap and Chainlink oracles.\nThe user interface is crafted using React alongside RainbowKIT.\nThroughout our development cycle, we conduct rigorous internal audits following each significant milestone. This approach is important for maintaining high code quality and ensuring the levels of security. \nAlchemy and DRPC are utilized for efficient on-chain data retrieval.\nWe are covering the whole codebase with tests and use Foundry for automation.\nWe have internal monitoring systems built with Grafana. \nAlso we developed telegram bots for critical notifications.", "hidden": true, "question": "What is the workflow chosen for this project? (You can mention development practices, tools, programming languages, etc.)", "questionId": 11}, {"type": "short-answer", "answer": "Yes, our previous implementation is live and can be found at https://app.mellow.finance/products, ALM toolkit is the next step towards decentralizing and democratizing liquidity management automation.", "hidden": true, "question": "Does this project have a demo? If yes, share a public link.", "questionId": 12}, {"type": "short-answer", "answer": "Protocols: deploying strategies for their tokens; Liquid funds: managing their positions for any pairs with their specific set of parameters; Developers: developing new types of strategies using Mellow ALM Toolkit infrastructure; End users: providing liquidity into public strategies deployed via Mellow ALM Toolkit", "hidden": true, "question": "What is the target audience for this project? (Mention if there is a market launch plan).", "questionId": 13}, {"type": "paragraph", "answer": "Our team has been working on Mellow since 2021. The founders have a history of successful collaboration, having jointly developed products before starting Mellow.\n\nWith an extensive background in software development, our team boasts over six years of experience in the crypto.\n\nThe team is fully equipped with engineers and has all the expertise needed for development of the product. \nIt's confirmed with our previous trackrecord at Mellow and building liquidity management solutions for Lido, Olympus, zkBob and other protocols.", "hidden": false, "question": "Who are the members of the team?", "questionId": 14}, {"type": "paragraph", "answer": "Nick, Head of Operations and Product Management:\n\u2013 MSc in Computer Science\n\u2013 Former executive in fintech and traditional corporate sectors\n\u2013 Active in the crypto space since 2016\n\u2013 Built a successful project focusing on RPC infrastructure\n\nAlex, Chief Technology Officer (CTO):\n\u2013 MSc in Computer Science and MSc in Economics\n\u2013 Chartered Financial Analyst (CFA) Level 3\n\u2013 Previous experience as CTO in fintech and corporate environments\n\u2013 Engaged in cryptocurrency since 2017\n\nAndrey, Core Protocol Developer:\n\u2013 MSc in Computer Science\n\u2013 Former Senior Software Engineer in big data solutions\n\u2013 Expertise in Solidity development since 2020\n\u2013 Experience in smart contract auditing\n\n\nDmitry, Backend and Data Infrastructure Developer:\n\u2013 MSc in Computer Science\n\u2013 Previous roles in data engineering and infrastructure at major IT firms\n\nOleg, Frontend Developer:\n\u2013 BSc in Computer Science\n\u2013 Former Senior Software Engineer with extensive experience in developing web3 interfaces for various protocols\n\nAdditionally, our team benefits from the collaboration of several external contributors specializing in mathematical modeling and user experience design.", "hidden": true, "question": "Describe team members' experience and current roles for this project.", "questionId": 15}, {"type": "paragraph", "answer": "\u2013 MVP (Finalized, February 2024): Initial version of the system ready for live testing.\n\u2013 Codebase Finalization (February 2024 \u2013 March 2024): Finalization of the codebase post-MVP tests, with additional test coverage.\n\u2013 Internal Audits (February 2024 \u2013 March 2024): Final internal audits before proceeding to external audits.\n\u2013 Code Freeze (No later than the end of March 2024): Final version of the code before the commencement of audits.\n\u2013 Audits (End of March 2024 \u2013 Mid-April 2024): Two audits conducted by Tier-1 and Tier-2 auditing firms.\n\u2013 Protocol Deployment (No later than Mid-April 2024): \u2013 \u2013 Deployment of the protocol contracts, monitoring systems, and user interface.\n\u2013 Launch (No later than Mid-April 2024): Official protocol launch and announcements, alongside the initiation of incentives for the strategies.", "hidden": false, "question": "What are the Project Milestones? (Be very specific and write a roadmap highlighting critical deliverables of the project; mention how you will ensure to supervise and track them).", "questionId": 16}, {"type": "paragraph", "answer": "We have already finalized the MVP and are polishing the code to prepare it for audits; therefore, we don't see significant risks for the protocol development.\n\nThe audits will be scheduled in advance when we are close to finalizing the codebase.\n\n100% of our resources are allocated to this project.\n\nFeasibility for the users is based on the fact that there is no truly permissionless, self-service system on the market with customizable strategies for active liquidity management. At the same time, there is a proven demand for active liquidity management.\nIn addition, this enables protocol builders who are just starting to deploy their pools with small amounts of liquidity to benefit from the ALM solution. It will improve capital efficiency for the \"long-tail\" assets.", "hidden": false, "question": "How do you plan to reach these milestones? (Explain the project feasibility).", "questionId": 17}, {"type": "multiple-choice", "answer": "No", "hidden": true, "question": "Has this project already been funded by other Grant Programs?", "questionId": 18}, {"type": "checkbox", "answer": ["I confirm."], "hidden": true, "question": "I confirm that I have read the Code of Conduct and that I have filled out this form correctly and truthfully.", "questionId": 19}, {"type": "checkbox", "answer": ["I understand."], "hidden": true, "question": "I understand that I will be required to provide KYC information by the UAGP team in case my application is accepted.", "questionId": 20}, {"type": "short-answer", "answer": "From our colleagues from Uniswap team and from our investors \u2013 Robot Ventures.", "hidden": true, "question": "How did you find out about UAGP?", "questionId": 21}, {"type": "paragraph", "answer": "None", "hidden": true, "question": "Additional information", "questionId": 22}, {"type": "short-answer", "answer": "None", "hidden": true, "question": "Special requests", "questionId": 23}], "project": {"id": "42161:0x73ab205af1476dc22104a6b8b3d4c273b58c6e27:491", "title": "Mellow Protocol", "logoImg": "bafkreiby5vtcjttd6lj3vaiprjagrh2ci2wn53kuh24w66o6i2massryqy", "metaPtr": {"pointer": "bafkreif63s2vak2thjpkrgmddzmgkf43kl6rwaghml3upwg4wfvurhwgbm", "protocol": "1"}, "website": "https://mellow.finance/", "bannerImg": "bafkreiex72pefnvrw6k25nyj3z6vkd5sda47bn3vk4xawohjzq5nd7umau", "createdAt": 1707662095479, "credentials": {}, "description": "We are building systems for Active Liquidity Management.\nPemissionless ALM Toolkit is a new implementation of the protocol that enables anyone to setup a strategy for their pool on Uniswap in a permissionless way.", "lastUpdated": 0, "projectGithub": "mellow-finance", "projectTwitter": "mellowprotocol"}, "recipient": "0xBC6346c3c9b252545CdF9A0E95063074A12eA1Ac"}}