{"signature": "0xad4602fb1e4967405652db01bc5e70e3ea364dac68bbe89959e85888814f1cdf4bdbc65db64eb1d462f17436b4b27d640ae05685438ec5e0af6a7800ff5f978d1b", "application": {"round": "0x6142eedc06d80f3b362ce43b4ac52fad679dc850", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "MCspW0h0uXPB/af4apn/l+T+tufEnmPkhvUTN8v/+ctGiUatVMBkUa7RG3b9oUUi", "encryptedSymmetricKey": "3259bb0816a0a9bec94ba8c48876e61c727c08d9ce0749b999ca32829435c42975130ccca3e8c7b6a8dcfb90d74b18184550b6776ce329c8c71fafb9abcc499c9502d007b156e54f2efc14aa9e0de8174585ac96666539d724ee179cb6a7768b5689fb134276df2db2c8e45cbde784b48dbce3f606014849a4dcaadaac6b505800000000000000205c8ab32d7361b37afce95d69714c20d0ce203df5d4f428e9e66362a67eede567a34070538eb6c66272ec929938c56eaf"}}, {"type": "paragraph", "answer": "We are applying for a grant to build a dollar-cost averaging product to enable users on Arbitrum to create recurring swaps via Uniswap. This will allow users to employ a dollar-cost averaging strategy where they can schedule an automated recurring buy of any ERC-20 token over time.", "hidden": false, "question": "Application detail", "questionId": 1}, {"type": "number", "answer": "140000", "hidden": true, "question": "Amount requested (in $)", "questionId": 2}, {"type": "dropdown", "answer": "ARB", "hidden": true, "question": "Payout token", "questionId": 3}, {"type": "short-answer", "answer": "The grant of $140k ARB will be used to complete the development of a dollar-cost averaging (DCA) product, deploy the product on Arbitrum, and produce educational pieces related to DCA and crypto investing. We will launch an alpha version of the product, conduct testing, make any necessary updates, and then organize a broader launch.  At Loop Crypto, we are a team of six, four engineers and two focused on product and GTM operations. The current team has been building products together for over 2 years. The two co-founders (Eleni and Shane) have been building together since 2018. We\u2019re efficient, iterative, and understand what customers want. This means we take building products that touch customer funds seriously and thus conduct rigorous testing.  As detailed below, we have set out a 16 week project plan to execute on this initiative. The majority of the initial effort will be performed by our engineering team to build and test the product followed by a period of quality assurance testing, documentation work, and the creation of promotional materials. The grant size requested would cover the cost of the team\u2019s efforts as well as additional infrastructure costs incurred (RPC providers, indexing, oracles, etc.) and an audit (estimated at $30k).", "hidden": true, "question": "How do you account for this fund request?", "questionId": 4}, {"type": "paragraph", "answer": "# Engineering: \n- Launch alpha: $65k for 2 senior engineers\n- Post-launch testing and enhancements: $35k for 2 senior engineers \n# Testing, training materials, & marketing: \n- $10k to write the documentation and FAQ along with building promotional materials and campaigns\n# Audit: \n- $30k for an audit of the smart contract\n- Note: We have already been in communication with several auditing services, acquiring a range of quotes based on the proposed scope of work. We will be able to move quickly to initiate the audit process once the contract work is finalized.", "hidden": false, "question": "How will you use these funds? Please make a detailed plan for expenditures.", "questionId": 5}, {"type": "dropdown", "answer": "Uniswap on Arbitrum Ecosystem tools or products", "hidden": false, "question": "Which RFP is this project covering? ", "questionId": 6}, {"type": "short-answer", "answer": "Uniswap is on a mission to support the growth and sustainability of decentralized finance. Through the exchange, swapping, wallet, and an increasing list of services, Uniswap makes it easy for first-time and veteran web3 users to participate in decentralized finance. The ability to dollar-cost average (DCA) into an asset is critical functionality that would bolster the overall Uniswap ecosystem to both attract and retain users. At the moment, we see immediate applicability for this solution to enhance Uniswap v3 bringing programmability to the way users interact with v3 by allowing them to schedule recurring swaps via Loop Crypto. As we iterate on our recurring swap smart contract and the UX around it, we see the obvious potential to design a hook contract that will be compatible with Uniswap v4. DCA is an investment strategy that tries to minimize timing the market by building your position over time. When investors dollar-cost average, they invest equal dollar amounts in a security at regular intervals. Rather than attempting to time the market, they buy in at a range of different prices. DCA is about facilitating a long-term investing horizon rather than enabling the next pump-and-dump trade. This aligns with the Uniswap ethos and ensures we\u2019re fostering a web3 ecosystem for investors of all levels. With the focus on lowering gas fees in Uniswap v4, we believe there is great alignment with a DCA strategy that enables investors to allocate a small amount of funds on a repeated basis over weeks, months, and years. \ud83d\udd06 We've conducted discovery calls with 50+ end users and companies validating that there is strong demand for DCA functionality on Uniswap.", "hidden": false, "question": "How do you think this project fits in with Uniswap?", "questionId": 7}, {"type": "paragraph", "answer": "**1. Attract new investors.**\nWe are at an inflection point for DeFi. While the first wave of DeFi primarily onboarded to L1s and engaged with applications there, we are seeing new users head directly to L2s. The speed and low-cost nature of L2s offer an ideal environment for the proliferation of DeFi products. For Arbitrum, there is immense value to be gained by having a range of applications that interface with Uniswap. This will defend and enhance Arbitrum\u2019s place as a leading hub for DeFi in the years to come.\n\n**2. Increase usage by existing investors.**\nBy allowing users to set up recurring purchases, Uniswap is able to simplify the investment process, making it more convenient for investors to stick to their long-term strategies and thus invest more, over time.\n\nOne simple way this is true is that DCA allows investors to make regular investments each month that coincide with income (e.g. put $50 of a paycheck into crypto) without having to remember to transact. As we see more companies and individuals transacting on chain to manage their operations or personal finances, there is immense potential to provide investing tools that help them grow their wealth over time and ultimately grow TVL on Arbitrum.\n\n**3. Drive new tokens to deploy with Uniswap on Arbitrum.**\nToken projects value investors with a long-term perspective. DCA aligns with this approach by encouraging investors to think beyond short-term price movements and focus on a project's fundamentals and potential for growth over an extended period. Thus, offering DCA can attract strong projects that have long-term thinking in mind.\n\nFurthermore, DCA can contribute to building a loyal and committed community of investors. Regular engagement and contributions from a diverse group of investors can strengthen the overall community around a token project. \n\n**4. Unlock a market countercyclical strategy.**\nSince DCA is not time-dependent, Uniswap and Arbitrum will be able to retain investors even when markets are down. This is furthered by the fact that DCA strategies perform best when they are done over a long period of time and during both ups and downs. Additionally, DCA removes the emotions from investing (i.e. investors might not keep investing in the down markets and setting and forgetting could ensure they do).\n\nThis project is uniquely positioned to be deployed on Arbitrum as it relies on low fees, thus enabling smaller but more frequent purchases. This is especially critical for smaller investors with limited capital. Instead of needing a lump sum to enter the market, investors can start with smaller, regular contributions, making it easier for a broader range of people to participate.\n", "hidden": false, "question": "What benefits will this project bring to Uniswap in the Arbitrum ecosystem?", "questionId": 8}, {"type": "short-answer", "answer": "With these grant funds, we plan to conduct a follow-on audit.", "hidden": true, "question": "Has this project undergone a security audit? If not, are you planning to undergo it?", "questionId": 9}, {"type": "short-answer", "answer": "Yes. We will post once development is complete. ", "hidden": false, "question": "Is this project open-source? (If yes, share the repository link).", "questionId": 10}, {"type": "paragraph", "answer": "We run 2-week sprints and then 1 week of testing using Jira at Loop. Our development practice is to use agile development, putting the product in front of customers fast and getting quick feedback. \n\nWe program in Solidity, NodeJs, React, and AssemblyScript (subgraph).\n\nWe need to pay for tools and services such as: Visual Studio Code, Jira, Github, AWS, Alchemy Subgraphs, and Postmark.", "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": "We put together an initial mockup and POC version of the product. Here is a screenshot of an initial design. Please only use this as an illustrative design. https://drive.google.com/file/d/1hbN3tVnrISqTR7zSG4uZzc7399PEQtAt/view?usp=drive_link", "hidden": true, "question": "Does this project have a demo? If yes, share a public link.", "questionId": 12}, {"type": "short-answer", "answer": "As mentioned above, our target audience is new and existing Uniswap users as well as new and existing token projects. We are going to focus on identifying and activating users who will benefit and be highly likely to use the DCA product. Early on, we believe we\u2019ll see the most traction among entities and individuals already comfortable with DeFi and on-chain investing. As such, we\u2019ll target users from some of the following groups: investing groups, individuals with salaries paid in crypto, DAO treasuries. Ensuring we have a strong community of users early on will be critical for the success of the initiative. From there, we can then focus on investors who might be newer to the web3 ecosystem.", "hidden": true, "question": "What is the target audience for this project? (Mention if there is a market launch plan).", "questionId": 13}, {"type": "paragraph", "answer": "Loop was founded by web3 veterans Eleni Steinman (CEO) and Shane van Coller (CTO). Eleni and Shane have built and launched crypto projects together successfully for years and focus on building infrastructure that makes web3 more accessible to a broad set of users. They started Loop Crypto in 2021 to solve their own challenge of enabling recurring crypto payments for web3 businesses.\n\nFor this particular project, the following team members from Loop Crypto will be involved:\n\n**Shane van Coller (Co-founder & CTO)**\n- Education: BA in Information Science from the University of Pretoria\n- Experience: 15+ years of software development experience. 7+ years building in crypto & doing smart contract development. Led US Engineering team at bloXroute before becoming CTO at Loop Crypto.\n- Skills: Full stack development, Solidity smart contract development, technical infrastructure\n\n**Rocco Panacci (Senior Software Engineer)**\n- Education: BS in Computer Science from Trent University\n- Experience: 20+ years of software development experience. Serial startup software developer who has spent 10+ years teaching and designing curriculum for software development as well.\n- Skills: Full stack development with a focus on front-end solutions (React, Typescript, HTML, CSS, PHP, Javascript, Node.js, etc.)\n\n**Jeff Cangialosi (Head of Business Operations)**\n- Education: BS in Science, Tech, & International Affairs from Georgetown, MBA from Kellogg\n- Experience: 10+ years in finance and fintech. Serial startup operator with experience in project management and grant management.\n- Skills: GTM Strategy, operations, project management, content marketing, technical documentation", "hidden": false, "question": "Who are the members of the team?", "questionId": 14}, {"type": "paragraph", "answer": "The Loop team has been working together for 2.5 years. For this grant, the following team members will be involved in the capacities described below:\n\nShane - He will manage the development work across the team and lead all efforts around smart contract development and back-end architecture.\n\nRocco - He will lead the front-end development efforts for this project building an easy-to-use interface for users to set up a recurring swap on Uniswap.\n\nJeff (Monitoring Supervisor) - He will function as the project manager for this initiative, ensuring that all target completion dates are achieved. Jeff will work on go-to-market strategy, lead all marketing efforts, and support testing efforts.\n", "hidden": true, "question": "Describe team members' experience and current roles for this project.", "questionId": 15}, {"type": "paragraph", "answer": "1. Scope and write all tickets in Jira to complete the initiative\n- Target completion: Day 1\n- Result: All ticketing and progress will be tracked in Jira\n-  Owner: Shane\n\n2. Launch and promote waitlist sign up sheet for testers of the alpha version\n- Target completion: Week 1\n- Result: Share alpha sign-up across immediate network and socials\n-  Owner: Jeff\n\n3. Complete smart contract development to enable swapping\n- Target completion: Week 2\n- Result: Smart contract factory is made available on Loop\u2019s staging environment to facilitate back-end and front-end development\n-  Owner: Shane\n\n4. Complete backend APIs and architecture work to support calls to the smart contract\n- Target completion: Week 4\n- Result: Back-end work is pushed to Staging environment \n-  Owner: Shane\n\n5. Complete front-end interface to enable users to select and execute desired DCA pair\n- Target completion: Week 6\n- Result: Front-end work is pushed to Staging environment\n-  Owner: Rocco\n\n6. Close sign-up list for alpha testing\n- Target completion: Week 6\n- Result: Attract 100+ users for alpha testing on waitlist\n-  Owner: Jeff\n\n7. Conduct internal testing and Q/A process \n- Target completion: Week 7\n- Result: Track completion of bug tickets on Staging environment. Push alpha version to production environment to prepare for alpha version to be tested.\n-  Owner: Shane/Jeff\n\n8. Conduct alpha testing with closed group of 50 testers from the waitlist\n- Target completion: Week 8\n- Result: Track count and volume of swaps of each alpha tester. Complete user interviews with a minimum of 20% of testers.\n-  Owner: Jeff\n\n9. Incorporate feedback and address any bugs identified during the alpha testing process\n- Target completion: Week 9\n- Result: Track completion of bug tickets and feature tickets in Jira.\n-  Owner: Shane/Jeff\n\n10. Conduct 2nd phase of alpha testing with closed group of remaining testers from waitlist\n- Target completion: Week 10\n- Result: Track count and volume of swaps of each alpha tester. Complete user interviews with a minimum of 10% of testers.\n-  Owner: Jeff\n\n11. Write and complete educational materials for the DCA product\n- Target completion: Week 10\n- Result: All deliverable content should be completed by week 10 having incorporated learnings from the testing. Content will include an introductory blog post, FAQ page, and then numerous tweets, posts, casts, etc. for social pages.\n-  Owner: Jeff\n\n11. Incorporate feedback and address any bugs identified during the 2nd phase of the testing process\n- Target completion: Week 11\n- Result: Track completion of bug tickets and feature tickets in Jira\n-  Owner: Shane/Jeff\n\n12. Contract audit and updates\n- Target completion: Week 14\n- Result: Receive contract audit and incorporate any recommendations as needed\n-  Owner: Shane\n\n13. Public launch\n- Target completion: Week 15\n- Result: DCA landing page is available and is promoted across the Uniswap and Arbitrum ecosystems\n-  Owner: Jeff\n\n14. Complete publishing of promotional materials\n- Target completion: Week 16\n- Result: Ensure all educational and social material is shared across platforms (separate content calendar will be created to track)\n-  Owner: Jeff\n\n", "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": "There are three elements that will be critical for us to achieve these milestones. The first is being able to fully dedicate members of our team to the DCA initiative. Since launching Loop in 2021, we've been working on scoping out and building a prototype of the DCA product, but other business initiatives caused us to de-prioritize the work. Fortunately, we are now at a point where our other products are stable. While we have a lengthy roadmap of feature enhancements to our existing checkout product, this grant would allow us to shift the team\u2019s focus to the DCA product, which we have not been able to do in the past.\n\nSecond, over the last 2.5 years, the Loop team has become highly proficient building together and bringing products to market. We have fine-tuned our process of project planning, ticket creation, sprint planning, and testing. We know how to execute as a team, and we will bring that know-how to this initiative.\n\nFinally, we believe it will be essential to draw on the support of the Arbitrum and Uniswap ecosystems to accomplish a project like this. We will be reliant on sourcing and working with dedicated testers who will be providing feedback along the way as we roll out an alpha and eventually live version of the product. Building this DCA product while part of a cohort of builders within the Arbitrum and Uniswap communities will be invaluable and allow us to get to market significantly faster.", "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": "We learned about UAGP from Devin Walsh at Uniswap.", "hidden": true, "question": "How did you find out about UAGP?", "questionId": 21}, {"type": "paragraph", "answer": "N/A", "hidden": true, "question": "Additional information", "questionId": 22}, {"type": "short-answer", "answer": "N/A", "hidden": true, "question": "Special requests", "questionId": 23}], "project": {"id": "0xadf447db21815851c75236c44653d582aa41e5e2aff66565010c2a054c067814", "title": "Loop Crypto - Dollar-Cost Averaging", "logoImg": "bafkreiebvbledmqqcy3pro62rjtaelbplvbrul5hmo5cpyx4woo2dpgglu", "metaPtr": {"pointer": "bafkreifbu62netmygp2ijpsnsw5t6x2xdsxhlw55zsq6u6lfuffhwfet6a", "protocol": "undefined"}, "website": "https://www.loopcrypto.xyz/", "bannerImg": "bafkreifplc7yxxtoyhkee5pkw52m7vbordompd27ze5f2vaih2z2awdmzy", "createdAt": 1711103685579, "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..Qxda-8pVRA8ew2bXBF2dR7kNl0SXDwLad2BDn9GnUvxc2nvLpkEQ5o2OIPGh7TqDNKyNOuvjKh_AAi0_lwwUBw", "type": "Ed25519Signature2018", "created": "2024-03-22T10:31:50.304Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-03-22T10:31:50.303Z", "expirationDate": "2024-06-20T10:31:50.303Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x8CA9eAADADd0Adb5EBF82602846e2A629452f707", "hash": "v0.0.0:FP0dHoLCz4EGIKWzYsJe4RJo/KIc1Auo+tc85OzFOrg=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#loopcrypto_xyz"}}}, "description": "At Loop Crypto, we make it simple to automate recurring transactions in web3. We do this by providing the smart contract and tooling companies, DAOs, and consumers need to bring automation to their workflows. \n\nOne such automation is the ability to set up a recurring swap (i.e. dollar cost averaging) on-chain. This project will focus on building and deploying a dollar-cost averaging product for users to investor on a recurring basis via Uniswap on Arbitrum.\n", "lastUpdated": 0, "projectTwitter": "loopcrypto_xyz"}, "recipient": "0xA80B9f4c29C058c700A229fD11A0480faC4f0F33"}}