Clipper is a DEX designed for blue-chip token swaps (e.g., ETH, WBTC, ARB, USD stablecoins) with no impermanent loss for LPs. Clipper's novel architecture makes money for LPs (https://shorturl.at/jrsA7) using the same arbitrage strategy used by professional market makers, but implemented in a permissionless and non-custodial manner. Clipper incorporates prices formed off-chain into a sophisticated formula and validates them on-chain, removing the need for arbitrageurs and ensuring lower gas fees for traders. 

We are requesting this grant to support the following changes: 

1. Refactoring Clipper’s architecture so the liquidity pool on its Arbitrum deployment is built on a Uni v4 hook.

2. Refactoring Clipper’s architecture on Arbitrum so its current multi-asset pool is split into a series of two-asset pools, enabling it to fit into Uni v4. The series of pools will include an ARB<>USD pool, ARB<>ETH pool, and ETH<>USD pool. All pools will have no IL (zero Loss Versus Rebalancing), just as the current multi-asset pool has for the past year. 