{"signature": "0x87cf897c7593e0ccc997ee5d7ad9fbbf839782a744daeaacc7a3b598264937e61a6ba811a1b4162024b12d21c4808681417384317b9148d039655967e9da01631c", "application": {"round": "0x6142eedc06d80f3b362ce43b4ac52fad679dc850", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "ZUznecUUfAMZZVfBAGfsLhhrQ1fdiHsLWj4soBsFlK4+lzLDxPUx7NEr+TEcCVS3", "encryptedSymmetricKey": "faf1d68a50185f07ed8272f15ae4c5fc8b04d63e17c9b77363a3d6c1ddb43715e5ae70aab774a62ba490984716c1e411441668fb1fef2b1f6315ec55bfea7401415c031482e6cf2c7d0c4585c4f9d782286a7d3b51c87491729f191f7d43ac9148ccf291c4e547b1b69f7cf9fcc201b112397791277dd83beba2d439c99cb6e00000000000000020941c7f7ffa80af70d684a2658b1e4a8e4a4dd5a95a589d29b56234ff4c88444da1b71b28c76f78f1c4db3f3273f7f1b0"}}, {"type": "paragraph", "answer": "We are building Orange Finance, which offers advanced liquidity management on Arbitrum, specifically designed for concentrated liquidity DEXes. Through statistical modeling and delta hedging, we enhance v3 AMM capital efficiency against asset price fluctuations.\n\nWe deployed a WETH-WBTC vault on Uniswap v3 on Arbitrum, and plan to deploy more vaults for major pairs. Besides ALM on Uniswap v3, we are currently developing our vaults on top of LPDfi protocols which utilize Uniswap v3 liquidity, and plan to develop an LP aggregator across LPDfi protocols and AMMs. \n\nWe aim to bootstrap our upcoming LP aggregator vault launch with the Uniswap-Arbitrum Grant Program.\n\nThis expansion reflects our dedication to providing effective liquidity management solutions. It reinforces our role as innovators in the DeFi sector and our valuable contributions to the Arbitrum and Uniswap ecosystems.", "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": "We are requesting this fund for bootstrapping our TVL for our upcoming aggregator vault.", "hidden": true, "question": "How do you account for this fund request?", "questionId": 4}, {"type": "paragraph", "answer": "The requested funds are intended to enhance our TVL as token rewards.\n\nFunds will be used 100% in:\n\nThe incentive for strategy vault on UniswapV3 ($250000 worth ARB)\n\nover the 3 months since the launch targeting February, so monthly distribution will be $83333.333\u2026 in ARB. \n\nThis will gather more liquidity to be automatically routed to Uniswap pools from the LP aggregator.\n\nOur platform offers a unique value proposition by providing real-yield opportunities through trading fees from Uniswap v3, complemented by a delta hedging strategy that balances out the market risk is best matches to Liquidity Providers that wish to receive fee income continuously while not taking too much exposure to market risk. Despite our competitive performance in LP management, we've observed a market trend where users often prefer protocols offering additional token rewards.\n\nTo align with market expectations and optimize our appeal, we propose the integration of token rewards alongside our existing real-yield returns. This strategic enhancement aims to elevate our LP management offering, leveraging the delta hedge strategy to attract and serve a broader user base. The infusion of these funds will be instrumental in implementing this initiative, thereby strengthening our market position and enhancing value for our users.", "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": "With the advent of Uni v4 hooks, a surge in protocols like LPDfi on Uniswap is expected, leading to more complexity and opportunities for LPs. We aim to simplify UX and aggregate liquidity pools for LPs.", "hidden": false, "question": "How do you think this project fits in with Uniswap?", "questionId": 7}, {"type": "paragraph", "answer": "Liquidity management on Uniswap v3 is hard for an average user. They often end up losing their funds due to price fluctuations even after dealing with complex operations such as price range set, dual-token deposit, and rebalance.\n\nThis challenge makes it more difficult for users to opt for Uniswap v3 as their investment choice.\n\nOur project aims to bring more liquidity to Uniswap on Arbitrm by solving the above problem with ALM and delta-hedging strategy. This initiative is expected to boost trader activity on Uniswap in the Arbitrum ecosystem. Furthermore, by simplifying the liquidity provisioning process, we anticipate an increase in the deployment of new protocols and the issuance of their tokens on Arbitrum.", "hidden": false, "question": "What benefits will this project bring to Uniswap in the Arbitrum ecosystem?", "questionId": 8}, {"type": "short-answer", "answer": "Our smart contract got audited by two auditors, WatchPug (https://github.com/orange-finance/alpha-contract/blob/main/audit-report/Orange_Finance_Audit_Report_by_WatchPug.pdf) and Zokyo (https://github.com/orange-finance/alpha-contract/blob/main/audit-report/Orange-finance-audit-report-[28-Sep-2023]_compressed.pdf).", "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/orange-finance", "hidden": false, "question": "Is this project open-source? (If yes, share the repository link).", "questionId": 10}, {"type": "paragraph", "answer": "Team Structure\n- Core Team\nPM (ex. SC dev) x 1\nSC dev x 1\nFE dev x1\nBD x2\n\n- Out-sourcing\nPartnered Auditor x1\nPartnered Designer x1\n\nWorkflow\nWe repeat the following sprint.\n\nPhase1. Concept\nPM and SC dev come up with draft specifications.\n\nPhase2. Formative\nPM and SC dev discuss functionality with FE dev.\nPM comes up with a draft design, discusses it with FE dev again to list up the necessary events from SC to be emitted, and then passes the draft to the out-sourcing designer.\n\nPhase3. Development\nStep 1. SC Draft \nSC: develop a draft, then discuss with the partnered auditor for feedback and possible better design/architecture. Deploy the mock contracts as soon as they work.\n\nStep 2: Start developing the subgraph. Turn contracts into audit.\nFE: Start developing the subgraph as soon as the mock contracts are deployed. To avoid having to modify the SC code later, develop the subgraph first to ensure sufficient information has been emitted.\nAfter the fix of the design, start working on the UI as well.\n\nSC: Keep developing the contracts and tests. => Audit&Fix\n\nStep3: Internal Test\nAfter developing of UI, subgraph, and SC, deploy the final contracts, connect FE, and perform an internal test.\nUsually, there are minor fixes on texts and UI bugs.\n\nStep4: Launch\nShip the product when the BD team is comfortable.", "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": "https://alpha.orangefinance.io/", "hidden": true, "question": "Does this project have a demo? If yes, share a public link.", "questionId": 12}, {"type": "short-answer", "answer": "DeFi users but little experience of LPing due to its complexity and market risk, especially community members in LPDfi protocols, who are developing new products utilizing Uniswap v3 liquidity pools on Arbitrum.", "hidden": true, "question": "What is the target audience for this project? (Mention if there is a market launch plan).", "questionId": 13}, {"type": "paragraph", "answer": "Motoki Takahashi (Co-founder / CEO) \nShun Oikawa (Co-Founder / COO) \nRyota Yamaguchi (CTO)\nRubio Kishigami (Co-founder / BD) \nAtsushi Uchida (FE developer)\nKohshi Ota (Researcher)", "hidden": false, "question": "Who are the members of the team?", "questionId": 14}, {"type": "paragraph", "answer": "Motoki Takahashi (Co-founder / CEO) \nMajored in Law at Tokyo Metropolitan University.\nHe worked at a blockchain gaming company, Venture capital fund \u201cGumi Cryptos\u201d for new technology, and DeFi Insurance protocol \u201cInsureDAO\u201d.\nhttps://www.linkedin.com/in/motoki-takahashi-778225203/\n\nShun Oikawa (Co-Founder / COO) \nMajored in Aerospace Engineering at Green River College. \nPreviously, He founded NFT marketplace in Japan \u201cLos Dorados\u201d, and worked as SC dev for DeFi Insurance protocol \u201cInsureDAO\u201d. \nhttps://www.linkedin.com/in/shun-oikawa-bb81a1132/\n\nRyota Yamaguchi (CTO)\nPreviously, he worked as SC dev for DeFi Insurance protocol \u201cInsureDAO\u201d. \n\nRubio Kishigami (Co-founder / BD) \nMajored in Hispanic studies at Sophia University, and graduated from MSc Finance at SOAS, University of London. \nHe founded NFT marketplace in Japan \u201cLos Dorados\u201d, and worked for DeFi Insurance protocol \u201cInsureDAO\u201d. \nhttps://www.linkedin.com/in/rubio-kishigami-31b029160/\n\nAtsushi Uchida (FE developer)\nPreviously worked as the CTO for a Web2 company, and has been working as a DeFi application developer for 2 years.\n\nKohshi Ota (Researcher)\nmajoring in Economics at Keio University.\nPreviously, he studied Uniswap AMM profitability at university, and worked for \"Fracton Ventures\".\n", "hidden": true, "question": "Describe team members' experience and current roles for this project.", "questionId": 15}, {"type": "paragraph", "answer": "Product milestone: \u2028\nLaunch LPDfi vault on Dopex (Dec 2023 ~ Jan 2024)\nLaunch LP aggregator vault (Feb 2024)\n\nKPI milestone: TVL\u2028\n$1M (after LPDfi vault)\n$5M (after aggregator vault)\u2028\u2028\n\nTo ensure the successful realization of these milestones, we will provide regular progress reports on product development and use Dune Analytics dashboards to meticulously track KPIs.", "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 partnered with LPDfi protocols such as Dopex and InfinityPools, who are utilizing Uniswap v3 pools, to ship new vaults smoothly and attract more liquidity to Uniswap v3 on Arbitrum through Orange Finance.\n\nTo meet our KPI milestones, we intend to utilize the funds from this grant to boost liquidity following the launch of our aggregator vault. Our target is to achieve a TVL of $5 million, offering a 20% APR in token rewards. We plan to allocate $250,000 in ARB incentives over a period of three months to support this initiative.\n", "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": "X", "hidden": true, "question": "How did you find out about UAGP?", "questionId": 21}, {"type": "paragraph", "answer": "Orange Finance is committed to advancing the liquidity provider (LP) ecosystem through the publication of research articles, particularly focusing on the innovations brought by Uniswap v4 hooks and Uniswap X. Our insights and findings are regularly shared on platforms like Mirror (https://mirror.xyz/0x6FA2aF9a4d6fFe654361F713780963C10412e7c3/jMBMzyDROC92wPGr8BHI5GAh0OD-hbwqzQ8PYvyoB3E).\n\nFurthermore, we participated in ETH NYC and got prizes from Uniswap, Flashbots, and 1inch with an active hook manager \u201cLime\u201d, which allows market makers to set prices and fulfill swap requests via Intent/RFQ (https://ethglobal.com/showcase/lime-qczie). To maximize AMM LPs' profitability, we plan to integrate hooks such as Lime from the aggregator position.", "hidden": true, "question": "Additional information", "questionId": 22}, {"type": "short-answer", "answer": "N/A", "hidden": true, "question": "Special requests", "questionId": 23}], "project": {"id": "42161:0x73AB205af1476Dc22104A6B8b3d4c273B58C6E27:261", "title": "Orange Finance", "logoImg": "bafkreib7xqlo2gahi6kevsrzxl376njjyxzebmcuthjcbqurplfxewxm3q", "metaPtr": {"pointer": "bafkreidnb4lraa4tnyuf6o7jxmoj4vqdpgp4qlmfuds3yseg5gnbed3cau", "protocol": "1"}, "website": "https://www.orangefinance.io/", "bannerImg": "bafkreieodowoluep47fpkl2mut2sgv7xukh7f4acqzasahpcjdmuochrc4", "createdAt": 1700128172296, "userGithub": "", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..OufjC63pyW9f46U4eJ6HDfxL2kIXZDIwwHITb7FNeigowh9sxcu32UvUWIIYSksgAf1gK_jP5Wis_VwTtMCiDg", "type": "Ed25519Signature2018", "created": "2023-11-16T09:48:07.571Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-11-16T09:48:07.570Z", "expirationDate": "2024-02-14T09:48:07.570Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xF7764A9B664a3905192d95Aa43201033258871C6", "hash": "v0.0.0:i8Xwz+u3QlzlWW195S7b4ydrgqbjIJELCp54lG/bqKA=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#0xOrangeFinance"}}}, "description": "Orange Finance offers advanced liquidity management on Arbitrum, specifically designed for concentrated liquidity DEXes. Through statistical modeling and delta hedging, we enhance v3 AMM capital efficiency against asset price fluctuations.", "lastUpdated": 0, "projectGithub": "", "projectTwitter": "0xOrangeFinance"}, "recipient": "0xd076397eC36F1C92939bd8cdA9F9F7734F308C4b"}}