{"signature": "0x0a7736e266d5773f16db94dc034d20b3c2a44b5c3bdb248be70c9d20c65f2a453232676eb15b546bcca32512858c788df078adf701c56f6f1623cc275c2dd1061c", "application": {"round": "0x6142eedc06d80f3b362ce43b4ac52fad679dc850", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "CK/91seTt/GlhrA2DWXZdTyCppklLujxBYxK2CJeiqlSXDeLURRrxP/SSRBEJ8ka", "encryptedSymmetricKey": "d768540cd3e0a4929c601adacbda20ad2bb8c0143f7046bf5a1fa20aff680598554c53bbb999ca6c25ae17ba8218130e96ce5752f6cb248455aafb0e681efa3bbeeba7f42930d81651ffcdc1f152a52676dcd909ffb87c4b69d6ed2648453bb4f854e4edcc9fc765116917103b62d16196855eac975d62550f8f4bf4c947f53a0000000000000020505c64b5bd48405bd558b4e6f2b33564a398d1787b52fa647efb866f9d8734a8526c6426058d7a570d4eb90e200c76b1"}}, {"type": "paragraph", "answer": "\nAbsolutely! Here's the document formatted in Markdown:\n\n---\n\n# Project Title: Bunni, a protocol by Timeless\n\n## Request for Proposal (RFP): Liquidity Management\n\n### Team Members (all available for full KYC)\n\n- **Mcfly**: Overseeing operational administration, and UI development.\n  - **Background**: Active in the Ethereum ecosystem since 2017; co-founded Bunni, Timeless, and 88mph. Preceding this, served 7 years as a UX lead for multiple firms.\n  - **Experience**: Skilled in cultivating communities, steering projects, and managing operational and financial responsibilities.\n  - **Skills**: Operational management, financial supervision, and UI design and development.\n\n- **ZeframL** (Smart contract design & development)\n  - **Background**: B.S. & M.S. in Computer Science from UCSD.\n  - **Experience**: Building Ethereum smart contracts since 2017, cofounded 88mph, Sudoswap, and Timeless.\n  - **Skills**: Smart contract design & development.\n\n- **Szeth** (Frontend development, Subgraph development, Solidity)\n  - **Background**: BA Economics from Stanford.\n  - **Experience**: 3 years in DeFi application development.\n  - **Skills**: Solidity, Rust, Smart Contract Development, Project Management.\n\n- **Dakotah** (Operations, team building, marketing, strategy, growth)\n  - **Background**: 10+ years as a small business operator.\n  - **Experience**: Biz Dev Lead at 88mph, Lead of Growth at Timeless and Bunni.\n  - **Skills**: Operations, team building, marketing, strategy, growth.\n\n- **Razzka / Mehmet O\u011fuzhan Kurt** (Marketing and Community Manager)\n  - **Background**: BA in International Finance, Bah\u00e7e\u015fehir University.\n  - **Experience**: 5 years of experience in marketing and community management in the crypto space. Oversaw the marketing strategy for [GHI Project], increasing its user base by 300% in one year.\n  - **Skills**: Content Creation, Social Media Management, Community Engagement, SEO.\n\n---\n\n## Project Overview\n\nBunni is a liquidity engine for incentivizing Uniswap v3 liquidity. It consists of two parts: a protocol that wraps Uniswap liquidity positions into fungible ERC-20 tokens, and a ve-tokenomics system for incentivizing Bunni liquidity. This innovative combination makes Bunni a highly efficient method for incentivizing DEX liquidity. Bunni aims to facilitate liquidity provision for users and liquidity bootstrapping for both new and mature protocols on Uniswap v3. This grant request seeks to fuel further growth and integrations for Bunni\u2019s ERC20 token wrapping and rewards system, optimizing the experience for liquidity providers and traders on Uniswap.\n\n---\n\n## KPIs & Milestones\n\n1. **Increased Liquidity**: Achieve 5M of TVL and 30M volume on Arbitrum\u2019s instance of Bunni within six months.\n2. **Improve Reward Token UX**: Integrate xERC20 token standard. Research Arbitrum Native o-token redemption mechanism.\n3. **Partnership Growth & Expansion**: Reach and exceed 15 active protocols utilizing Bunni\u2019s fixed ranges on Arbitrum for their token, LSTs and/or stablecoins in six months.\n4. **Community Engagement**: Create 2 user campaigns for Arbitrum users to discover the benefits of Bunni & attract at least 5000 users through platforms like Galxe.\n\n---\n\n## Community and Ecosystem Impact\n\nBunni is committed to fostering a robust and engaged community, ensuring transparency and inclusivity in every phase. Its Discord is a moderated and safe place for users to share their thoughts and strategies. The \"Cookie Monsters\" project allows users to earn USDC for creating content and spreading awareness about the project. ARB tokens could be considered as future rewards.\n\nBunni aligns with Uniswap\u2019s ethos of decentralization and innovation, aiming to contribute positively to the broader DeFi ecosystem.\n\n---\n\n## Other Thoughts\n\nBunni represents a significant advancement in the DeFi landscape, merging the resilience, robustness, and efficiency of Uniswap with its own innovative solutions. This integration aims to attract actors who share similar values and goals. Committed to collaboration, transparency, and community empowerment, Bunni is strategically positioning itself as a springboard for new projects seeking liquidity and as a stronghold for established projects looking to enhance their market presence. This dual approach solidifies Bunni\u2019s role as a pivotal player in the DeFi ecosystem, enhancing both its and Uniswap's appeal to a broad range of participants.", "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": "Donation", "hidden": true, "question": "How do you account for this fund request?", "questionId": 4}, {"type": "paragraph", "answer": "\n### 50% - Development of better oLIT UX for Arbitrum users \n\n-   **Context**: A key limiting factor in the growth of the Arbitrum instance of Bunni is the current user experience of the reward token (oLIT).  oLIT currently needs to be bridged to mainnet using the official Arbitrum Bridge, which mandates a 7 days wait. The o-token call option needs then to be exercised with a Mainnet transaction that requires equivalent amounts of WETH to be held by the user. \n    \n-   **Approach**: Research and development are underway, with several options being considered for phased implementation. The budget includes audit costs.\n    \n    #### Phase 1: Cross-Chain Seamless Transfers\n    \n    -   **Objective**: To adapt the xERC-20 standard for oLIT, streamlining cross-chain transfers.\n    -   **Benefit**: Eliminates the 7-day waiting period for bridging oLIT from Arbitrum to Ethereum Mainnet, thereby reducing transaction costs and improving the overall user experience.\n    \n    #### Phase 2: Research on o-token Call Options on Arbitrum\n    \n    -   **Goal**: To expand the team to research native oLIT redemption solutions on Arbitrum.\n    -   **Outcome**: Aims to eliminate the need for bridging and speed up the redemption process, further enhancing the UX on Bunni's Arbitrum instance.\n\n### Positive Impacts on the Platform\n\n  \n    -   Enhanced oLIT UX leads to increased trading activity.\n    -   Surge in fees boosts revenue generation and sustainability.\n    -   Grant supports Bunni's path towards independence and self-sufficiency.\n\n### 25% - Bootstrapping Liquidity Incentives\n\n-   **Usage**: To incentivize new high-value, high-volume, and high-interest pairs. Examples include:\n    -   ARB-USDC\n    -   ARB-ETH\n    -   wstETH / ETH\n    -   rETH / ETH\n    -   USDC / USDC.e\n    -   Potential inclusion of UNI pairs, depending on the committee's decision.\n\n### 20% - Attracting Value-Aligned Partners and Incentive Matching\n\n-   **Purpose**: To use the funds to attract value-aligned partners and match incentives on Bunni. This will be for a limited period to bootstrap liquidity and showcase the high-value proposition of the protocol.\n\n### 5% - R&D for the Arbitrum Deployment\n\n-   **Allocation**: To cover the expenses incurred in the research and development of the Arbitrum deployment.", "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": " Bunni significantly aligns with Uniswap, enhancing the concentrated liquidity model to offer solutions for liquidity providers seeking incentives on fixed ranges. This approach aims to attract more liquidity providers, boosting trading activity beneficial to both protocols. Bunni complements Uniswap by wrapping its NFT liquidity positions into more user-friendly ERC20 tokens, improving accessibility and efficiency in liquidity provision. The introduction of a gauge system similar to Curve Finance provides additional incentives to liquidity providers. Bunni also aligns with Uniswap\u2019s decentralized, community-driven ethos through its governance model. The integration of Timeless v2 with Bunni furthers this synergy, offering yield tokenization and ensuring all liquidity is committed to Uniswap and incentivized through Bunni. Overall, Bunni aims to enhance the user experience, incentivize participation, and improve token management, direclty increasing efficiency and user engagement within the Uniswap and Arbitrum ecosystems. Bunni's focus is on becoming a leading protocol with further plans for Uni v4 integration in its future roadmap with Bunni v2.", "hidden": false, "question": "How do you think this project fits in with Uniswap?", "questionId": 7}, {"type": "paragraph", "answer": "\n### 1. Enhanced Liquidity Provision\n\n-   **Approach**: Bunni's innovative ERC20 token wrapping of Uniswap v3\u2019s NFT LP tokens.\n-   **Impact**: Simplifies and enhances the liquidity provision process on Uniswap, enabling further composability.\n\n### 2. Incentivization and Reward Mechanisms\n\n-   **Feature**: The gauge system implemented by Bunni.\n-   **Benefit**: Provides additional incentives to liquidity providers, especially appealing for protocols within the Arbitrum ecosystem.\n\n### 3. Increased Trading Volume and User Base\n\n-   **User Experience**: Improvements for liquidity providers and offering additional incentives.\n-   **Result**: Attraction of a larger user base to Uniswap on Arbitrum, leading to higher trading volumes and making the platform more attractive due to its depth and efficiency.\n\n### 4. Composability and Integration\n\n-   **Capabilities**: Bunni\u2019s advancements in oracle development and token wrapping.\n-   **Opportunity**: Enables high levels of composability, allowing other projects on Arbitrum to easily integrate or build upon Bunni and Uniswap's functionalities, enriching the ecosystem.", "hidden": false, "question": "What benefits will this project bring to Uniswap in the Arbitrum ecosystem?", "questionId": 8}, {"type": "short-answer", "answer": " - **Bunni Crosschain Gauge:** [https://reports.yaudit.dev/reports/05-2023-timeless-gauges/](https://reports.yaudit.dev/reports/05-2023-timeless-gauges/)  - **Bunni Protocol:** [https://reports.yaudit.dev/reports/08-2022-Bunni/](https://reports.yaudit.dev/reports/08-2022-Bunni/)  - **Bunni Zap-In:** [https://reports.yaudit.dev/reports/03-2022-Bunni-Zap/](https://reports.yaudit.dev/reports/03-2022-Bunni-Zap/)  - **Bunni Oracle:** [https://reports.yaudit.dev/reports/07-2023-Bunni-Oracle/](https://reports.yaudit.dev/reports/07-2023-Bunni-Oracle/)            There is as well a well-funded bug bounty with Immunefy", "hidden": true, "question": "Has this project undergone a security audit? If not, are you planning to undergo it?", "questionId": 9}, {"type": "short-answer", "answer": "https://github.com/Bunniapp", "hidden": false, "question": "Is this project open-source? (If yes, share the repository link).", "questionId": 10}, {"type": "paragraph", "answer": "N/A", "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": "The project is live", "hidden": true, "question": "Does this project have a demo? If yes, share a public link.", "questionId": 12}, {"type": "short-answer", "answer": "Liquidity providers, protocols", "hidden": true, "question": "What is the target audience for this project? (Mention if there is a market launch plan).", "questionId": 13}, {"type": "paragraph", "answer": "Mcfly\n\nFunction: Operational administration, UI development\nZeframL\n\nFunction: Smart contract design & development\nSzeth\n\nFunction: Frontend development, Subgraph development, Solidity\nDakotah\n\nFunction: Operations, team building, marketing, strategy, growth\nRazzka / Mehmet O\u011fuzhan Kurt\n\nFunction: Marketing and Community Manager", "hidden": false, "question": "Who are the members of the team?", "questionId": 14}, {"type": "paragraph", "answer": "Team Members (all available for full KYC)\nMcfly: Overseeing operational administration, and UI development.\n\nBackground: Active in the Ethereum ecosystem since 2017; co-founded Bunni, Timeless, and 88mph. Preceding this, served 7 years as a UX lead for multiple firms.\nExperience: Skilled in cultivating communities, steering projects, and managing operational and financial responsibilities.\nSkills: Operational management, financial supervision, and UI design and development.\nZeframL (Smart contract design & development)\n\nBackground: B.S. & M.S. in Computer Science from UCSD.\nExperience: Building Ethereum smart contracts since 2017, cofounded 88mph, Sudoswap, and Timeless.\nSkills: Smart contract design & development.\nSzeth (Frontend development, Subgraph development, Solidity)\n\nBackground: BA Economics from Stanford.\nExperience: 3 years in DeFi application development.\nSkills: Solidity, Rust, Smart Contract Development, Project Management.\nDakotah (Operations, team building, marketing, strategy, growth)\n\nBackground: 10+ years as a small business operator.\nExperience: Biz Dev Lead at 88mph, Lead of Growth at Timeless and Bunni.\nSkills: Operations, team building, marketing, strategy, growth.\nRazzka / Mehmet O\u011fuzhan Kurt (Marketing and Community Manager)\n\nBackground: BA in International Finance, Bah\u00e7e\u015fehir University.\nExperience: 5 years of experience in marketing and community management in the crypto space. Oversaw the marketing strategy for [GHI Project], increasing its user base by 300% in one year.\nSkills: Content Creation, Social Media Management, Community Engagement, SEO.", "hidden": true, "question": "Describe team members' experience and current roles for this project.", "questionId": 15}, {"type": "paragraph", "answer": "## Project Milestones and Roadmap\n\n### 1. Increased Liquidity\n\n-   **Target**: Achieve $5M in Total Value Locked (TVL) and $30M in trading volume on the Arbitrum instance of Bunni.\n-   **Timeline**: Within six months from project commencement.\n-   **Supervision and Tracking**: Regular monitoring of liquidity metrics using our own Dune Dashboard; if desired, monthly progress reports to stakeholders.\n\n### 2. Improve Reward Token UX\n\n-   **Goals**:\n    -   Integrate the xERC20 token standard for a more user-friendly experience.\n    -   Research and develop an Arbitrum Native o-token redemption mechanism.\n-   **Timeline**: Integration within four months; Research phase completion in six months.\n-   **Supervision and Tracking**: Bi-weekly updates on development progress; coordination with UX teams for feedback and testing phases.\n\n### 3. Partnership Growth & Expansion\n\n-   **Objective**: Establish and exceed partnerships with 8 active protocols using Bunni\u2019s fixed ranges on Arbitrum for their token, LSTs, and/or stablecoins.\n-   **Timeline**: Achieve this milestone within six months.\n-   **Supervision and Tracking**: Maintain a partnership tracker; provide monthly updates on partnership development.\n\n### 4. Community Engagement\n\n-   **Initiatives**:\n    -   Develop and launch two user campaigns targeted at Arbitrum users to highlight the benefits of Bunni.\n    -   Aim to attract at least 300 users through these campaigns on platforms like Galxe.\n-   **Timeline**: First campaign launch in the second month, second campaign in the fifth month.\n-   **Supervision and Tracking**: Track campaign performance using analytics tools; gather user feedback for improvement; report campaign results and user growth statistics.", "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": "\n\n## **Phase 1: xERC-20 standard adoption**\n\nThis approach is not novel. It involves integrating a new token standard promoted by Connext Network.  \n  \n**Overview of xERC-20**\n\n1. Cross-Chain Functionality: xERC-20 is an open crosschain token standard. It allows token issuers to bridge their tokens to any chain with zero slippage (no liquidity pools), maintaining fungibility across canonical bridges and providing granular risk settings.\n\n  \n\n2. Fungibility: Unlike traditional methods where each bridge deploys its version of the token, creating fragmented liquidity and a disjointed user experience, xERC-20 ensures fungibility. Any number of bridges can mint and burn the same token across chains, ensuring users always receive the same asset regardless of the bridge used.\n\n  \n\n3. Sovereignty and Control: With xERC-20, token issuers retain full control over their token contracts on every chain. This contrasts with other solutions where control might be ceded to bridges or third-party providers.\n\n  \n\n4. Granular Security: Issuers can flexibly choose the bridges they trust and adjust their exposure to each bridge based on their risk tolerance.\n\n  \n  \n\n## Phase 2: Research on exercising o-token call options natively on Arbitrum\n\n  \n\nIn the second phase of our development, we will focus on researching the ability to exercise o-token call options directly on the Arbitrum network.  \n  \nThis will require onboarding a new developer. Such initiative aims to streamline the process for users, enabling them to exercise their options on Arbitrum without the need to bridge o-tokens to the Ethereum Mainnet for conversion or redemption. By simplifying this process and keeping it native to the Arbitrum ecosystem, we expect to enhance user experience, reduce transaction complexity, and potentially attract a larger user base to engage with o-tokens on the Arbitrum platform. This development will be crucial in making the option exercise process more efficient and user-friendly.\n\n  \n\n## Other milestones set out in this Grant Application:\n\n  \n\n**Focused Business Development Approach:** Our marketing strategy is closely coordinated with our development team, aiming to connect with professional protocols and liquidity providers who have significant investment capabilities. Our marketing is specifically designed to attract the attention of these high-profile players in the DeFi market. By doing this, we keep our core audience, the professionals and institutions in the DeFi space, updated and interested in the growth and opportunities our project offers.\n\n  \n\n**Social Media and Community Engagement & Education:** As part of our commitment to community growth, we plan to use social media and community platforms to maintain transparent and continuous communication. Our approach includes educating our community about the project's features and addressing any queries or concerns promptly. This strategy is vital in building a loyal user base and fostering a sense of ownership among our community members.\n\n  \n**Business Development and Strategic Partnerships:** We will continue to actively seek and establish strategic partnerships with other entities in the DeFi space. These partnerships, highlighted in our marketing and business development efforts, will not only expand our network but also add credibility and visibility to our project.\n\n  \n\nIn summary, the project's success hinges on expanding and enhancing our team\u2019s resources, all while ensuring a strong alignment between development and marketing, maintaining clear and educational communication with our community, addressing the intrinsic challenges of web3 development, and continuously refining the user experience. By focusing on these areas, we aim to meet our milestones effectively and sustainably.", "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": "Research on Arbitrum grants", "hidden": true, "question": "How did you find out about UAGP?", "questionId": 21}, {"type": "paragraph", "answer": "\nA majority of our Business Development (BD) work is conducted openly, allowing for transparency and community engagement. You can follow along with our progress and updates at our Notion page:\n\n  \n\n- [Bunni Business Development on Notion](https://www.notion.so/Cookie-Monsters-Home-b32ac1ea314f4d67859d7742049443e7)", "hidden": true, "question": "Additional information", "questionId": 22}, {"type": "short-answer", "answer": "N/A", "hidden": true, "question": "Special requests", "questionId": 23}], "project": {"id": "42161:0x73AB205af1476Dc22104A6B8b3d4c273B58C6E27:302", "title": "Bunni", "logoImg": "bafkreigofl6nvxr3lxnnjt2odkya6u745xyrllwhvtgx3oghsp4eqwewse", "metaPtr": {"pointer": "bafkreigyhdhbuwmtvy4ktck7frchydd2ibr42hbsiba4ai6b5hy6slmhsq", "protocol": "1"}, "website": "https://bunni.pro/", "createdAt": 1700579284482, "credentials": {}, "description": "Bunni is a liquidity engine for incentivizing Uniswap v3 liquidity.\n\nBunni has two parts: a protocol that wraps Uniswap liquidity positions into fungible ERC-20 tokens, and a vetokenomics system for incentivizing Bunni liquidity.\n\nThe combination of a robust incentivization system and concentrated liquidity makes Bunni on track to be the most efficient method for incentivizing DEX liquidity.\n\nThe upcoming Bunni v2 further iterates on this concept allowing for even more possibilities for LPers by integrating with Uniswap v4.", "lastUpdated": 0, "projectGithub": "Bunniapp", "projectTwitter": "Timeless_Fi"}, "recipient": "0x77B1825b2FeB8AA3F8CF78809e7AEb18E0dF719d"}}