{"signature": "0xc9262505eef2f496bf022a9c5cc1110469ba3c68aa7d9a8b37220d078e38cf57475ce41d3fca8447bed7d67fe09c1ede9c1846c1e17763905f8df74b05f9bf591c", "application": {"round": "0x23b136ed9b30323b9c6ece32f60e11acb5480010", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "2eswiQDrIe/emIVA3CXCyn81GlWH5OG4fQ71VKGDSw9hplz255iNiio0TYXjj/XY", "encryptedSymmetricKey": "2c190502a7fda10e00c862e4245059f303983b153e4f6606ac7483195ca7f43501e6cfb7539d391c71a31c492da2030ba24b90931fe8732b5d36d10b7f313d012c25c3c6477eec8714d4e63ee9ee6efbd78b0b2dbef02e645bf9cf654299e79869108c49d71c4f6d7c1cc4241638290ec05e0c7de8cec0d3f06614aaa5e654460000000000000020f3a145f12c861c7fcbaf3a9ff244d2b6c08a63aed116f9e4ac554f6c82f489524189d5381649e490e448ad2af4c6c199"}}, {"type": "paragraph", "answer": "GMD Protocol DAO Grant", "hidden": false, "question": "Application detail", "questionId": 1}, {"type": "number", "answer": "100000", "hidden": true, "question": "Amount requested", "questionId": 2}, {"type": "dropdown", "answer": "ARB", "hidden": true, "question": "Payout token", "questionId": 3}, {"type": "paragraph", "answer": "1st Milestone: Distribution of 25k ARB on successful Launch of GMXv2 Pools and achieving $500k TVL.\n\n2nd Milestone: Distribution of 25k ARB upon reaching a TVL of 2 million.\n\n3rd Milestone: Distribution of 50k ARB at a TVL milestone of 5 million.", "hidden": false, "question": "Milestones", "questionId": 4}, {"type": "paragraph", "answer": "Saul Goodman: Tech Lead / Co-Founder (Core Member)\n\nCrimson: Operations Lead / Co-Founder (Core Member)\n\nBetsy Kettlemen: Marketing Lead / Co-Founder (Core Member)\n\nRegex: Senior Developer (Core Member)\n\nLil\u2019 W1nddd: Front-end Developer\n\nYohellosup: UI & Illustrator Designer", "hidden": false, "question": "Team Members and Qualifications: [List team members and their qualifications, roles, and responsibilities]", "questionId": 5}, {"type": "number", "answer": "6", "hidden": false, "question": "Team Size", "questionId": 6}, {"type": "short-answer", "answer": "-", "hidden": true, "question": "Grant Matching:", "questionId": 7}, {"type": "paragraph", "answer": "100% used to incentivize LPs for GMXv2 Vaults", "hidden": true, "question": "Grant Breakdown", "questionId": 8}, {"type": "short-answer", "answer": "2/3 Multisig with private keys securely stored", "hidden": true, "question": "Funding Address Characteristics: [Enter details on the status of the address; eligible address must be an MPC wallet\u00a0or 2/3 multisig with private keys securely stored]", "questionId": 9}, {"type": "short-answer", "answer": "0x73EaD57A47DcFecd87F15C8438b9eAbFDcCf5C5b", "hidden": true, "question": "Distribution Contract Address: [Enter any specific address that will be used to disburse funds for grant recipients]", "questionId": 10}, {"type": "short-answer", "answer": "0x73EaD57A47DcFecd87F15C8438b9eAbFDcCf5C5b", "hidden": true, "question": "Incentivised Contract Addresses: [Enter any specific contract addresses that will be incentivised in your program (Pool addresses, contracts, etc.)]", "questionId": 11}, {"type": "paragraph", "answer": "Objectives:\n\nStrategically appeal to a risk-averse customer base seeking low-volatility opportunities while still wanting to participate as liquidity providers in GMX V2 pools.\n\nEliminate the deposit fee for GMX V2 Vaults with an allocation of 25,000 $ARB, enhancing the onboarding experience for new users by removing initial cost barriers.\n\nSignificantly increase Total Value Locked (TVL) by attracting a broader user base through the removal of deposit fees and offering stable yield opportunities.\n\nIncrease trading volume on GMX by leveraging the incentivization of deposits and active participation in GMX V2 Vaults.", "hidden": true, "question": "Objectives: [Clearly state the primary objectives of the grant and what you intend to achieve]", "questionId": 12}, {"type": "paragraph", "answer": "Key Performance Indicators (KPIs):\n\nAllow at least $25,000,000 of additional liquidity to GMX V2 Vaults by subsidizing the estimated 0.2% LP fees (Accounting for slippage, GMX fees, and swap fees) with the allocated 50,000 $ARB.\n\nIncentivize up to $4,000,000 of liquidity in GM Liquidity pools across all supported assets.\n\nTrack the growth in the number of users, specifically targeting those interested in low-volatility LP opportunities.", "hidden": true, "question": "Key Performance Indicators (KPIs): [Specify the KPIs, including but not limited to total value locked, transaction volume, and number of users that will be used to measure success in achieving the grant objectives]", "questionId": 13}, {"type": "paragraph", "answer": "How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?:\n\nOptimized Yield Opportunities: The grant will enable GMD to develop the first GMX V2 Delta Neutral Vault on Arbitrum, offering a novel LP option for users. This innovation is set to unlock a new category of liquidity provision on GMX V2 Vaults that caters to users seeking stable returns without exposure to high volatility.\nEcosystem Synergy: Increased yield and liquidity will foster symbiotic relationships with other protocols and services within Arbitrum that support GMX.\nSticky Liquidity Provision: The grant will empower GMD to create attractive and competitive liquidity pools, drawing in \u2018sticky\u2019 liquidity \u2013 long-term, stable funds from investors and users who are committed to the vaults for sustainable yield.\nEnhanced User Confidence: Attracting stable liquidity will reinforce user confidence and trust in the protocol, creating a reliable and secure platform for users to interact with. This strengthened reliability can encourage more prolonged and substantial engagement from users not just for GMD but for GMX.", "hidden": true, "question": "How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?: [Provide details]", "questionId": 14}, {"type": "paragraph", "answer": "Justification for the size of the grant:\n\nGMD\u2019s reputation as a dedicated and innovative vault service provider within the GMX ecosystem justifies the need for a 100,000 $ARB grant. This funding is crucial to maintaining our competitive edge, especially after missing the last Arbitrum grant, which has placed us at a disadvantage. The grant will support GMD\u2019s ongoing commitment to delivering unique and successful innovations that enhance the GMX platform.\n\nIn addition, we have a strong dedication towards Real-Yield generation, which would in turn create positive-sum yields for our users and the GMX ecosystem. Over the course of GMD\u2019s existence, we have distributed more than 317 $WETH in real-yield revenue for our stakers.\n\nExecution Strategy: We will utilize the grant to implement a novel GMX V2 Vault incentive program. By developing a contract atop the existing delta-neutral vaults, we can channel the grant into $ARB emissions for users who deposit their assets into the vaults. This strategic move aims to enhance the vaults\u2019 attractiveness and sustain a competitive APR, drawing more liquidity providers and maintaining our leadership position in the market.", "hidden": true, "question": "Justification for the size of the grant: [Enter explanation]", "questionId": 15}, {"type": "paragraph", "answer": "How we\u2019ll distribute $ARB incentives to LPers:\n\nAllocations of Incentives for GM Liquidity are based on weekly epochs.\n\nEvery epoch, a set number of ARB will be allocated per each GM.\n\nA time-weighted average of users\u2019 GM balance is taken for the whole week to calculate proportional rewards.\n\nARB incentives will be airdropped directly to GM holders after the completion of each epoch.\n\nAPR and other information shown on the Earn/Pools page is a rough estimate; actual rewards depend on the final calculations at the end of each epoch.\n\nThe amount of ARB for each epoch and the conditions for distribution under this program may be amended from time to time, to make sure they meet the goals of GMX\u2019s STIP proposal in the most cost-effective way.", "hidden": true, "question": "Execution Strategy: [Describe the execution plan, including resources, products, use of funds, and risk management. This includes allocations for specific pools, eligible assets, products, etc.]", "questionId": 16}, {"type": "paragraph", "answer": "Our strategy is set to unfold as soon as we receive our GMX DAO grant and concluding on January 31, 2024. This timeline allows for a focused and impactful distribution of resources, aligning with market dynamics and the protocol\u2019s growth phases.\n\n", "hidden": true, "question": "Grant Timeline and Milestones: [Describe the timeline for the grant and milestones.]", "questionId": 17}, {"type": "paragraph", "answer": "We agree to receive the grant funds linearly over the proposed period, with the understanding that the multisig authority has the discretion to adjust the streaming as necessary. This ensures flexibility and responsiveness to the evolving needs of the GMD ecosystem.\n\n", "hidden": true, "question": "Fund Streaming: [Do you accept the funding of your grant streamed linearly for the duration of your grant proposal, and that the multisig holds the power to halt your streamed grant at their discretion at any time?] ", "questionId": 18}, {"type": "short-answer", "answer": "September 2022", "hidden": true, "question": "What date did you build on GMX?: [Date of deployment]", "questionId": 19}, {"type": "paragraph", "answer": "GMD Protocol has solidified its position in Arbitrum\u2019s DeFi space, focusing on delta-neutral vaults and real-yield generation, with approximately $10 million in TVL and 320 WETH distributed in real-yield dividends to stakers over the past year.\n\n", "hidden": true, "question": "Protocol Performance: [Detail the past performance of the protocol and relevance, including any key metrics or achievements, dashboards, etc.]", "questionId": 20}, {"type": "paragraph", "answer": "Our immediate focus is on the development and deployment of the GMX V2 Delta Neutral Vault. We are currently in the auditing phase and plan to release a beta version to test and refine the offering. Upon successful completion of the audit, and assurance of no potential issues, we aim to fully launch the product, particularly if we secure ARB funding which will further support this initiative.\n\n", "hidden": true, "question": "Protocol Roadmap: [Describe relevant roadmap details for your protocol or relevant products to your grant application.]", "questionId": 21}, {"type": "paragraph", "answer": "Audit 1: GMDAO Vault Smart Contract Audit by SourceHat (formerly Solidity Finance)\n\nAudit 2: https://github.com/pashov/audits/blob/master/solo/GMD-security-review.md ", "hidden": true, "question": "Audit History (if any): [Provide historic audits and audit results]", "questionId": 22}, {"type": "short-answer", "answer": "Yes, we will have a dedicated team engaged to develop a Dune Dashboard or a similar dashboard on our own platform that conveys equivalent information.", "hidden": true, "question": "Is your team prepared to create Dune Spells and/or Dashboards for your incentive program?: [Please describe your answer]", "questionId": 23}, {"type": "short-answer", "answer": "Certainly! We are committed to providing bi-weekly program updates on the GMX Forum thread.", "hidden": true, "question": "Does your team agree to provide bi-weekly program updates on the GMX Forum thread?: [Please describe your strategy and capabilities for data/reporting]", "questionId": 24}, {"type": "short-answer", "answer": "Y", "hidden": true, "question": "Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program's funding stream?: [Y/N]", "questionId": 25}], "project": {"id": "42161:0x73AB205af1476Dc22104A6B8b3d4c273B58C6E27:382", "title": "GMD Protocol", "logoImg": "bafkreihhab5kmal2awk22v7vsdyfk6dyvht4ypd2y54v5vsdekqchuwggy", "metaPtr": {"pointer": "bafkreig2ulvaq5ihjgbituhacpkwg2rlnoof7kunhliogwihqu42qqr6my", "protocol": "1"}, "website": "https://gmdprotocol.com/", "bannerImg": "bafkreie3qkqpzmfqlmur7c2fwqw535d7jhs3gvignan6li6x5sam7ca54y", "createdAt": 1701647295319, "userGithub": "saulgoodmandev", "credentials": {}, "description": "GMD protocol is a vault service provider established in 2022, that has consistently dominated the Delta-Neutral Vaults market on top of GMX on Arbitrum with ~15m TVL.\n\nOur latest innovation is the GMX V2 Delta-Neutral vault.", "lastUpdated": 0, "projectGithub": "gmd", "projectTwitter": "GMDprotocol"}, "recipient": "0x73EaD57A47DcFecd87F15C8438b9eAbFDcCf5C5b"}}