{"signature": "0x21cda2d4487796e5dba04c1bd18e0bd0fb4c130dac2b0eeb2a05ea7c7e6ba28523ededd9dab0859ce19d71bb9ebef0ee6493a3bd881abc537a58e259b52cca201c", "application": {"round": "0x6142eedc06d80f3b362ce43b4ac52fad679dc850", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "K9+SDNDAX/IGg3187FTdjIaZ8sYzLW+HOZ8SUaXThu4=", "encryptedSymmetricKey": "313607dbd14f6ea519be25df7ece422be074665a6ab8d76b7af0f0a145da2042789594009c47970d72a00bffc2cf4f101fc650e362f73cebeebd11929325eb6c662dd38864e2b446583144e8393dd6a649b662934c24b3c8e89582ca1bfa68a67f9b05877d2bb894abaf1cc71d86566be19adbcae136df6fb441811cd2c9e6400000000000000020f25efe87aa08c1ac392dd2731932fe7edd826e92a0eee7fc668c4193a6e5bde2f707fb1041b33072b445f088516fcb80"}}, {"type": "paragraph", "answer": "This application covers the onboarding of two add-on features to Uniswap for the purpose of providing mitigated impermanent loss for Uniswap liquidity providers and thereby significantly contributing to the enhancement of Uniswap's value.\n\n[Moby\u2019s Value Proposal]\n\nMoby proposes the integration of two features onto Uniswap that can effectively contribute towards hedging against Impermanent Loss (hereby \u201cIL\u201d) \u2014 a primary risk for Uniswap Liquidity Providers. \n\nWith Moby\u2019s design concentrated towards realizing (1) real-time accurate pricing; (2) narrowest spread in the market; (3) abundant liquidity; and (4) scalable infrastructure at large, Moby is the most suitable on-chain options protocol to integrate and thereby effectively render IL hedging for Uniswap Liquidity Providers. \n\n[Why Options for IL Hedging?]\n\nOn Uniswap, Liquidity Providers must bear IL risk in exchange for accrued transaction & trading fees. The most recent Uniswap V3 model focuses on concentrating liquidity in specific price ranges that incur significant volume to maximize trading fee accrual and thereby incentivize Uniswap liquidity providers. \n\nWhile the V3 model\u2019s intention is well-grounded, liquidity providers on Uniswap may be exposed to greater risk in certain situations. For example, in the case of a sudden change in the value of the underlying asset, the internal token ratio of the Liquidity Pool pair would shift accordingly, which may render IL for liquidity providers \u2014 In such volatile market conditions, liquidity providers may start flocking towards collectively withdrawing their liquidity to mitigate risk. \n\nConsequently, Uniswap may be exposed to the risk of decreasing Total Value Locked (TVL) and liquidity providers may face reduced profits, increased losses, and higher gas fees.\n\nApplying options can function as a more effective means to hedge risk and thereby mitigate IL risk.\nUniswap\u2019s IL, the core risk factor for liquidity providers, can be represented with the short Gamma options payoff curve. The IL\u2019s nonlinear characteristic makes it challenging for Uniswap\u2019s liquidity providers to achieve perfect hedging with instruments such as futures because futures payoff is linear. \n\nRefer to \"Article_1\": https://drive.google.com/drive/u/0/folders/1wRTSg6jHAXECTaT8MKtrcSBIyWTaLUbz\n\n[Why Moby?]\n\nBacked by its own game-changing Synchronized Liquidity Engine (hereby \u201cSLE\u201d), Moby is capable of providing Uniswap\u2019s liquidity providers access to Liquidity Pool rewards with significantly mitigated IL risk with features that enables seamless risk hedging mechanism with on-chain options.\n\nFrom a comparative perspective, Moby is the most suitable on-chain options protocol to provide IL risk hedging mechanism for Uniswap\u2019s liquidity providers. Here is why:\n\nOrderbook models are highly dependent on the liquidity of Market Makers. Such dependency renders wide spreads and a long time for orders to be executed. Under such an environment, liquidity providers will inevitably be exposed to higher costs and resources compared to the potential benefits of hedging with on-chain options, let alone being exposed to the risk of not being able to hedge at all.\n\nOn the other hand, Moby supports narrow spreads and immediate transactions for options on a 24/7 basis. The high leverage and maximum capital efficiency Moby provides will enable liquidity providers on Uniswap to use a portion of their rewards to set up an options positions to hedge their IL risk.\n\n>> [Add-on Feature (1) Impermanent Loss Hedge Insurance]\n\nFrom a user-flow perspective, if a Uniswap liquidity provider connects his or her wallet to the Impermanent Loss Hedge Insurance (hereby \u201cIL Insurance\u201d), the potential IL the liquidity provider is exposed to is calculated based on multiple scenarios and Moby will suggest as well as execute optimal options positions to effectively mitigate IL risk. With the Impermanent Loss Hedge Insurance in place, Uniswap liquidity providers can mitigate IL risk with a very small amount of capital. As for risk-tolerant speculative traders on Uniswap, Moby can act as a means to bet against Uniswap\u2019s IL risk. \n\nUsers can review the IL graph based on the price fluctuations of any one asset within the LP's asset pair. Additionally, they have the option to purchase Moby's Options based on their risk appetite by selecting parameters such as the expiration date of the Options and hedge levels (\u201cWeek Hedge\u201d, \u201cOver Hedge\u201d, etc.).\n\nCurrently, with the Position Manager function on Moby, users can easily access their position information, including their expected PnL for different scenarios. By further refining and improving Moby\u2019s Position Manager, it is possible to design various strategies that would not only hedge IL risk but also enhance overall profitability for Uniswap liquidity providers.\n\nRefer to \"Article_2\": https://drive.google.com/drive/u/0/folders/1wRTSg6jHAXECTaT8MKtrcSBIyWTaLUbz\n\n>> [Add-on Feature (2) Automated Uniswap Liquidity Pool Hedge Vault]\n\nOn top of the Impermanent Loss Hedge Insurance, Moby also plans on introducing Automated Uniswap Liquidity Pool Hedge Vault, whereby Options are automatically repurchased to carry out hedging for liquidity providers on Uniswap.\n\nWhen a user deposits Uniswap LP into the Automated Uniswap Liquidity Pool Hedge Vault, the Vault would calculate the overall Position Risk and hedge the liquidity provider\u2019s IL by automatically purchasing optimized options. Through this process, users can achieve stable profits without any IL risk by simply depositing LP Tokens.\n\nThe initial model will be limited to underlying assets (BTC and ETH options) currently available on Moby. However, Moby plans to expand the scope of available asset classes to altcoin options and perpetual options. This is expected to further enhance capital efficiency and meet various user needs.", "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": "The requested budget will be used to build two add-on features for Uniswap - namely, the \"Impermanent Loss Hedge Insurance\" and the \"Automated Uniswap Liquidity Pool Hedge Vault\" - the usage and deployment of the funds will be accountable via on-chain transaction data and provision of documents that cover the status, progress, and all other plans for the two add-on features.", "hidden": true, "question": "How do you account for this fund request?", "questionId": 4}, {"type": "paragraph", "answer": "Given the UAGP Grant, Team Moby intends to allocate resources for the following areas:\n\n[20% = $50K in ARB] Add-on Feature Development \n\nFor the purpose of building two add-on features designed to improve Uniswap\u2019s liquidity pool risk management and fortifying the features\u2019 security via audit providers / vulnerability detection tools; Break-down of the allocation for this item is as follows:\n\n>> Deploy 1+ dedicated developer to build two add-on features on Uniswap\n\u2022 Impermanent Loss Hedge Function\n\u2022 Uniswap Liquidity Pool Hedge Vault  \n\n>> Bug Bounty Program & Security Fortification\n\u2022 To deploy bounty programs to reward any community member identifying technical issues / bugs on Moby\u2019s two add-on features for Uniswap\n\u2022 To conduct third-party security testing for the two add-on features via measures such as security audits or vulnerability detection services\n\n[50% = $125K in ARB] Uniswap Ecosystem Incentivization \n\nFor the purpose of incentivizing users \u2014 for a limited duration \u2014 who inject liquidity into Uniswap LPs and hedge their positions via Moby\u2019s two suggested add-on features on Uniswap:\n\n\u2022 Impermanent Loss Hedge Insurance\n\u2022 Automated Uniswap Liquidity Pool Hedge Vault\n\n[30% = $75K in ARB] User Acquisition\n\nFor the purpose of increasing awareness as well as maximizing addressable user base that may provide liquidity to Uniswap and contribute to Uniswap\u2019s presence in the Arbitrum ecosystem.\n\nAction items include, but are not limited to, the following activities:\n\n\u2022 Incentivized co-marketing with Uniswap, with focus on maximizing real liquidity providing users\n\u2022 Incentivized co-marketing with Private DAOs, DeFi projects, and quest protocols (e.g., Galxe), with focus on increasing awareness and educating users regarding new add-on features on Uniswap\n\nDisclaimer: The allocation and portion are flexible for adjustment upon discussion with the UAGP Committee, given that Moby\u2019s Grant Proposal is approved. Team Moby plans to allocate a minimum of 50% of the Grant for the purpose of incentivizing users who provide liquidity on Uniswap.", "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": "This project fits in with Uniswap in that the two add-on features available to Uniswap will contribute to effectively mitigating impermanent loss for liquidity providers on Uniswap via on-chain options. Further detail about each of the add-on feature is elaborated below.", "hidden": false, "question": "How do you think this project fits in with Uniswap?", "questionId": 7}, {"type": "paragraph", "answer": "Moby's two add-on features effectively address a long-standing issue for liquidity providers depositing funds to Uniswap by resolving problems associated with IL. The two add-on features will bring forth unprecedented breakthroughs and benefits, not only for Uniswap but also for the Arbitrum ecosystem.\n\nThe market\u2019s entry into a bullish trend sparks users\u2019 needs for additional profits. With the two add-on features proposed by Moby, users can achieve high profits with minimized IL risk, even in rapidly changing market conditions. \n\nUniswap\u2019s improved IL risk features will contribute to drastically incentivizing users to deposit their funds in Uniswap and mitigate liquidity outflow from Uniswap even during extreme market fluctuations. \n\nEnhanced liquidity for Uniswap\u2019s AMM pools would also contribute towards enhancing the trading environment and thereby further strengthen Uniswap's presence within Arbitrum\u2019s ecosystem.\n\nThe demand for stable income in DeFi continues to grow, evidenced by the high demand for Stable Pairs and Delta Neutral Pools. Uniswap, through the integration with Moby products, can offer new investment opportunities to both risk-averse users and institutional investors preferring stable trades, giving it a competitive edge compared to other DEXs on Arbitrum.\n\nThe launch of Automated Uniswap Liquidity Pool Hedge Vault is expected to directly contribute to the growth of the Uniswap ecosystem. One of the strengths of DeFi lies in its modular structure, forming a self-reinforcing structure. Examples like Arrakis and GAMMA, the automated operation models for Uniswap V3 LPs, have played a significant role in the ecosystem's growth. Likewise, Moby's Automated Uniswap Liquidity Pool Hedge Vault is also expected to enhance user acquisition and retention, supporting Uniswap\u2019s ecosystem expansion.", "hidden": false, "question": "What benefits will this project bring to Uniswap in the Arbitrum ecosystem?", "questionId": 8}, {"type": "short-answer", "answer": "Moby is currently undergoing a full security audit via Omniscia. It has also completed a vulnerability test via Pessimistic's Slitherin tool, which has been officially endorsed by the Arbitrum Foundation. Moby's security will also be monitored by Hacken's vulnerability tool to safeguard the service from any form of external attacks or malicious attempts.", "hidden": true, "question": "Has this project undergone a security audit? If not, are you planning to undergo it?", "questionId": 9}, {"type": "short-answer", "answer": "No, it is not. However, after a formal audit or vulnerability test, Team Moby may consider open-sourcing its add-on features in the near future. Team Moby is able to provide access to its repository to Grant Committee upon request.  Moby is currently undergoing a full security audit by Omniscia and has completed a vulnerability test by Pessimistic's Slitherin, a tool fully endorsed by Arbitrum Foundation. Moby plans to also work with Hacken for a 24/7 vulnerability detection service. Repository links for Moby may still be shared upon request from the Grant Committee.", "hidden": false, "question": "Is this project open-source? (If yes, share the repository link).", "questionId": 10}, {"type": "paragraph", "answer": "Please refer to the following documents regarding the technical workflow:\n\n\u2022 Docs: https://docs.moby.trade/overview/abstract \n\u2022 Technical Overview: https://docs.google.com/document/d/1tfXDgiiyuzvshGc7e02c9EFLpdZHCU6S/edit ", "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": "Moby is currently live on Arbitrum Sepolia (testnet). Please feel free to try out the service at: https://moby.trade/", "hidden": true, "question": "Does this project have a demo? If yes, share a public link.", "questionId": 12}, {"type": "short-answer", "answer": "The initial target users will be \u201cdegen traders\u201d who are used to trading derivatives (perp future, options) on primarily Arbitrum and EVM chains. Because Moby\u2019s back-end infrastructure is platform agnostic, providing the two add-on features for Uniswap will be scalable to cross-chain applications when there is sufficient reason to expand. In the long-term, Moby\u2019s goal is to provide institutions with further applications such as perpetual options, options-based lending protocols, and structured products with RWA integration. Further information regarding Moby\u2019s go-to-market strategy can be shared upon request to the Grant Committee.", "hidden": true, "question": "What is the target audience for this project? (Mention if there is a market launch plan).", "questionId": 13}, {"type": "paragraph", "answer": "\u2022 Team leader is previous options trader at top-tier IB & spot market developer at stock exchange\n\u2022 Team Moby consists of experts with experience in finance, consulting, fintech, data consulting, and L1\n\u2022 All product development is executed 100% in-house", "hidden": false, "question": "Who are the members of the team?", "questionId": 14}, {"type": "paragraph", "answer": "Team Moby consists of 8 full-time members dedicated to building all features in-house.\n\n\u2022 Founder comes from IB (derivatives trading), stock exchange, and credit agency background\n\u2022 Three Business Team members come from L1, strategic consulting, and fintech backgrounds and each have multiple years of experience in strategic partnerships, investments, and marketing\n\u2022 Four Dev Team members come from L1, CEX, data consulting, and fintech backgrounds; among which, the Tech Lead is a Node.js contributor", "hidden": true, "question": "Describe team members' experience and current roles for this project.", "questionId": 15}, {"type": "paragraph", "answer": "Our project milestones are clearly defined as follows:\n\n>> Milestone 1: Successful Launch of Moby\u2019s Core Functions to Enable On-chain Options\n\n\u2022 Expected achievement timeline: April, 2024\n\u2022 To launch Moby on Arbitrum One mainnet and test quality assurance as well as conduct necessary research to build out add-on features as defined on Milestones 2, 3, 4\n\n>> Milestone 2: Successful Launch of Moby\u2019s Impermanent Loss Hedge Insurance\u2028\n\n\u2022 Expected achievement timeline: Within 2 Qs since Moby\u2019s launch on Arbitrum One\n\u2022 Moby to build and launch the Impermanent Loss Insurance add-on feature applicable to Uniswap for users who deposit funds to the Uniswap LP on Arbitrum mainnet \n\u2022 Impermanent Loss Insurance add-on feature to enable Uniswap liquidity providers to choose as well as purchase options based on their LP risk profile via Moby\u2019s Position Manager and trading interface\n\u2022 Launch status subject to verification based on on-chain data sources such as Arbitrum explorer\n\n>> Milestone 3: Successful Launch of Automated Uniswap Liquidity Pool Hedge Vault\n\n\u2022 Expected achievement timeline: Within 3 Qs since Moby\u2019s launch on Arbitrum One\n\u2022 Automated Uniswap Liquidity Pool Hedge Vault to automatically provide hedging strategy for Uniswap liquidity providers based on IL risk\n\u2022 In the long term, Moby plans to support various Vaults by combining Perpetual Options, Altcoin Options, and other asset classes\n\u2022 Launch status subject to verification based on on-chain data sources such as Arbitrum explorer\n\n\n>> Milestone 4: Achieve Cross-chain Compatibility for Moby's Impermanent Loss Hedge Insurance \n\n\u2022 Expected achievement timeline: Within 4 Qs since Moby\u2019s launch on Arbitrum One\n\u2022 Moby to expand Impermanent Loss Insurance add-on feature availability to users who deposit funds into Uniswap LP from chains other than Arbitrum\n\u2022 For Moby at its initial stage, users need to possess underlying assets native to Arbitrum to purchase options. To enhance cross-chain compatibility, Moby plans to integrate with LayerZero, Axelar, and other cross-chain solutions to support a seamless multi-chain trading environment.\n\u2022 Launch status subject to verification based on on-chain data sources such as explorers\n\n\nOur project KPIs for each Milestone are clearly defined as follows:\n\nPhase 1 \n>> KPIs within 3 months after achieving Milestone 1\n   - Successful launch of Moby on Arbitrum One and develop infrastructure for two add-on for Uniswap\n   - Verification of launch of Moby on Arbitrum One via on-chain tools such as Arbitrum Explorer\n\nPhase 2\n>> KPIs within 3 months after achieving Milestone 2\n   - User Adoption: Achieve 500 monthly active liquidity providers on Uniswap using Moby's add-on\n   - Transaction: 10,000 Transactions\n\nPhase 3\n>> KPI within 3 months after achieving Milestone 3\n   - Moby's Uniswap LP Hedge Vault\u2019s cumulative value: $1,000,000\n\nPhase 4\n>> KPIs within 3 months after achieving Milestone 4\n   - User Adoption: Achieve 1,000 monthly active liquidity providers on Uniswap using Moby's add-on \n   - Transaction: 20,000 Transactions ", "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": "Team Moby\u2019s unparalleled expertise in the following areas will render all of the above-mentioned milestones as tangible outcomes:\n\n>> Planning\n\u2022 Team Moby consists of members from financial backgrounds that have profound experience in analyzing risk profiles and designing hedge strategies\n\u2022 Moby\u2019s distinctive features, such as the Synchronized Liquidity Engine (SLE), Dynamic Risk Premium, Combo are readily available to provide maximum liquidity on a 24/7 basis to accommodate for the IL risk hedging needs of users on Uniswap\n\n>> Implementation & Building\n\u2022 Moby\u2019s Tech Team is led by a Node.js contributor and a team who has profound web3 dev experience for 8+ EVM chains\n\u2022 Infrastructure layers are already built and can be modified to function as core add-on features for Uniswap liquidity providers \n\u2022 Due to Moby\u2019s architecture, Moby is able to develop its existing engine into mission-specific vehicles to accommodate various service needs\n\n>> Execution\n\u2022 Moby\u2019s Business Team consists of members from strategic consulting, Layer1s, CEXs, and fintech companies \u2014 The team has managed to build multiple partnerships and land an Arbitrum Foundation Grant based on its strategic business development capabilities\n\u2022 The launch of two add-on features to Uniswap will not only be significant as new features for Uniswap liquidity providers to enjoy, but will also act as a narrative-driving catalyst to bring attention throughout the web3 DeFi ecosystem \u2014 Team Moby has managed to gather 8,700 testnet users and generate $62B testnet trade volume under its well-established GTM and marketing tactics\n\nRecent achievements also bolster Team Moby's ability to deliver:\n\n>> Development Status\n\nMoby is currently on Arbitrum Sepolia testnet, with full launch on Arbitrum One mainnet scheduled for end of March ~ early April, 2024. \n\n>> User Metrics\n\nMoby testnet performance as of 23 February, 2024 \n(Date of launch on testnet: 18 January, 2024)\n\n\u2022 Notional Trade Volume: $62 B\n\u2022 Total No. of Traders: 8,700\n\u2022 Total No. of Transactions: 527,000\n\n>> Business\n\nGrant recipient of the Arbitrum Foundation Grant Program: \n\u2022 https://x.com/Moby_trade/status/1747888470981538080?s=20 \n\nPartners with: \n\u2022 Omniscia \u2013 https://x.com/Moby_trade/status/1750753652917359004?s=20 \n\u2022 AlfaDAO \u2013 https://x.com/Moby_trade/status/1755496162071806387?s=20 \n\u2022 Merlin Protocol \u2013 https://x.com/Moby_trade/status/1757294506750386598?s=20 \n\u2022 Pessimistic \u2013 https://x.com/Moby_trade/status/1755049219579347299?s=20 \n\nand 7+ more services (DEX, CEX, Community, Infra, and Research) / communities waiting for official announcement within a couple of weeks", "hidden": false, "question": "How do you plan to reach these milestones? (Explain the project feasibility).", "questionId": 17}, {"type": "multiple-choice", "answer": "Yes", "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": "Arbitrum Dev Portal", "hidden": true, "question": "How did you find out about UAGP?", "questionId": 21}, {"type": "paragraph", "answer": "Placing integrity as one of Team Moby's core values, we noted \"Yes\" for the question asking if Moby has been funded by other Grant Programs. Moby has received the Arbitrum Foundation Grant early this year for launching its service on Arbitrum. \n\nHowever, we would like to highlight that the Grant we received from the Foundation was for the purpose of launching a generic options protocol on Arbitrum. The Proposal for UAGP we submit today covers a new set of features that require further development based on Moby's current features, exclusive to Uniswap on Arbitrum. \n\nIn that regard, we would like to emphasize that the UAGP Grant request covers a different set of deliverables from those promised with the Arbitrum Foundation via the Foundation Grant.", "hidden": true, "question": "Additional information", "questionId": 22}, {"type": "short-answer", "answer": "Please contact the following email addresses / TG ID for further questions: yoshi@verse2.io / @mariocart19, ben@verse2.io / @Ben_VVV, bobby@verse2.io / @bobby418", "hidden": true, "question": "Special requests", "questionId": 23}], "project": {"id": "0x2ec0740479a8274c3af2f5f93915ca1be8505a4e1b23f3042e0a21a733f48370", "title": "Moby, an On-chain AMM Options Protocol for Arbitrum", "logoImg": "bafkreibdora7qsycojnwan5zjjchrdmdhgprf7g7frq5r7u5szfcsm7say", "metaPtr": {"pointer": "bafkreibf3hkux32euyb5qal7rvbq77bla7vxp4hddmbo5gccyjisfrdk2y", "protocol": "undefined"}, "website": "https://moby.trade/", "bannerImg": "bafkreiho7t5drksoklssnn7hmr6actfv5j7rfwstronfajygyj6axsouri", "createdAt": 1708678719411, "userGithub": "moby-dev02", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..ctZ8Iy-xxQ4mvNr7dohkPVWScVD5Uo5rE-OHxR-w_Sp7HOBoZPz09RUbbM-JBZtDgyTqAS7zXu0k1GscPJP6BA", "type": "Ed25519Signature2018", "created": "2023-11-08T14:39:19.993Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-11-08T14:39:19.993Z", "expirationDate": "2024-02-06T14:39:19.993Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x205379bF5DA83d56A41a65D580572cdB0ec64158", "hash": "v0.0.0:PZp7cJTFdvd7YLWjz5cJ5NxRMNNHkYPL0u1rgMFyLU0=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#moby-dev-team#145632328"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..6FkrjIC-M84eWZkH7lrGzSld4jyaArjf00VLmKp3OMEWA4z-_9oSqGRxBp6KYeIZTU1Ol9LndKLanZZb3QuDAw", "type": "Ed25519Signature2018", "created": "2023-11-08T13:54:09.755Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-11-08T13:54:09.755Z", "expirationDate": "2024-02-06T13:54:09.755Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x205379bF5DA83d56A41a65D580572cdB0ec64158", "hash": "v0.0.0:nD+HSLVx6EKoWp6CFS6L9uEv1gVzFqZtG0QzZurJ7/Q=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#Moby_trade"}}}, "description": "<Overview>\n\nMoby is an on-chain options protocol backed by its own pioneering Synchronized Liquidity Engine (SLE) model to drive the next narrative for DeFi. \n\nIt is the first-ever on-chain options protocol to bring real-time accurate options pricing, narrowest spread in the market, maximum liquidity, and Robinhood-class UI/UX. It is also the first-ever options protocol to receive the Arbitrum Foundation Grant prior to mainnet launch.\n\n<On-chain Options: Demand is Here, Supply is Not>\n\nMultiple sources point to the growth potential for on-chain options: \n\n\u2022 Open interest for BTC & ETH options surpassed that of futures for first time in 2023 \n\u2022 Historic market data implies a 118X growth for the on-chain options market \n\u2022 Tokenized asset market expected to reach $16 trillion by 2030 (source: BCG, ADDX) \n\u2022 30% of options vol. in US led by retail traders after Robinhood app introduces options trading\n\nDespite the significant growth potential, the market does not have a \u201csupplier\u201d that satisfies demand and thus has been unable to experience a full take-off / adoption for crypto options:\n\n\u2022 CEX: Market maker renders thick spread and thus unfavorable environment for retail traders \n\u2022 DEX: Inability to derive real-time accurate price and poor capital efficiency hinder adoption \n\n<Moby: an Options Protocol to Lead Next DeFi Meta>\n\nMoby\u2019s mission since day 1 has been to effectively address core issues in the market and establish standards for on-chain options. \n\nSome of its distinctive approaches include the following: \n\n\u2022 Radically reduced trade cost and Greeks risk with Dynamic Spread (Risk Premium) Model\n\u2022 Real-time accurate options pricing via Synchronized Liquidity Engine (SLE)\n\u2022 Unparalleled capital efficiency (~ 180X higher vs. existing DEXs)\n\u2022 No liquidation, Ultra high leverage (~1,000X)\n\u2022 Infra scalability to areas such as lending, perp options, structured products, RWA \n\n<Appendix>\n\nFor more information, please refer to the following sources:\n\u2022 Website: https://moby.trade/\n\u2022 Discord: https://discord.com/invite/neJMg9P4Ps \n\u2022 Docs: https://docs.moby.trade/overview/abstract \n\u2022 Medium: https://medium.com/@moby_trade", "lastUpdated": 0, "projectGithub": "moby-dev-team", "projectTwitter": "Moby_trade"}, "recipient": "0x3CD2ec88d869f14C007026277088e43cBE87e1bE"}}