{"signature": "0xd4c6a8a250ad184cd5bbb0c0f1195fbe9d7f437fe4ba5337724b2c8da3a36a790739bc496f6501a82ea784c4f76bd04c44c60affff1b1e4b0e26005a83d952d71b", "application": {"round": "0x6142eedc06d80f3b362ce43b4ac52fad679dc850", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "jvQuvJu+CoK7TlRVLOQHne7tlG2EKr6sDZWesNwURTwQQ9uqX57mqkJoL1cyQ1vl", "encryptedSymmetricKey": "f0fb8345394effccd4914ca3e48a4c82e1543e338b2b800575ec51f35227fbb0cb6a7245185c669855ff3ddd54863703d106bf04383ea90cd15909d266319f87e4fa9bd41b695afa18e00d263ebba936b61a91788a5f94e5d8dfd4657873ffa5b8f40efe7e02c3151d0e7de1d6ba94f1c377e004990336a3716799f462541636000000000000002015b6ca1eebf368562687f3450a56b7197d9979b22e9646ec9f41b34a3af1677d7c9e85650316daea9ff3770dafcf7dab"}}, {"type": "paragraph", "answer": "Panoptic aims to solve the passive liquidity crisis in Uniswap V3 and V4 on Arbitrum. It achieves this by removing the need for passive liquidity providers (LPs) and token launchers to actively manage liquidity in Uniswap. Instead, passive LPs lend their tokens to active LPs to generate a passive yield, and active LPs borrow tokens to increase their capital efficiency.\n\n\nSome of the key solutions Panoptic brings include:\n- Bringing back passive, single-sided LPing with no impermanent loss\n- Increasing returns to Uniswap liquidity providers\n- Enabling options and perps markets on long tail assets from day one\n", "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": "Panoptic is requesting these funds to incentivize liquidity providers on three Arbitrum pools.", "hidden": true, "question": "How do you account for this fund request?", "questionId": 4}, {"type": "paragraph", "answer": "Panoptic pools are built on top of Uniswap V3 pools. The preliminary list of Panoptic pools we will incentivize at launch along with the corresponding Uniswap V3 pool address are:\n\n- WETH/USDC, 0.05% (0xc6962004f452be9203591991d15f6b388e09e8d0)\n- WBTC/WETH, 0.05% (0x2f5e87c9312fa29aed5c179e456625d79015299c\n- ARB/WETH, 0.05% (0xc6f780497a95e246eb9449f5e4770916dcd6396a)\n\nThe funding amount will be entirely allocated as incentives to participants in these pools. Allocations can be made based on the relative participation rates in each pool (e.g. weighted by TVL + liquidity).\n\nThis is the preliminary list of pools we will support for launch, but we are open to adjusting the list as we approach launch.", "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": "Panoptic is bringing back single-sided, passive LPing to Uniswap. This provides an easier way to LP than on Uniswap V2 and V3 and without impermanent loss. Users can earn yield through passive LPing while supporting the Uniswap ecosystem\u2019s liquidity.  Panoptic is built on top of Uniswap V3 and creates a market for lending and borrowing Uniswap LP tokens, enabling LPs to earn up to 3x more with up to 5x more capital efficiency. The ability to lend out LP tokens creates an additional income stream for LPs, and additionally, enables others to short LP tokens by taking on the other side. A two-sided market for LPing will create a more dynamic liquidity distribution, potentially improving LP returns.", "hidden": false, "question": "How do you think this project fits in with Uniswap?", "questionId": 7}, {"type": "paragraph", "answer": "Panoptic is a nexus for options trading that settles on Uniswap, uniquely positioned to re-engage both new and old LPs who may have left. As the first fully DeFi-native, permissionless, and perpetual options trading and LP management platform, Panoptic is poised to ignite a flywheel of trading activity on Uniswap and Arbitrum.\n\nPanoptic\u2019s enhanced hedging, improved risk management, and broader leveraged exposure opportunities will catalyze trading activity across major DeFi verticals including liquidity provisioning, spot trading, perps, and options. These four DeFi pillars are deeply intertwined, and Panoptic's innovative offerings are designed to strengthen these connections:\n\n- New Income Streams: Panoptic introduces novel revenue opportunities by enabling Uniswap LPs to lend their LP tokens. This not only provides LPs with additional income but also deepens the liquidity pools, critical for maintaining the platform's robustness.\n- Improved LP Position Creation and Management: Panoptic's visual interface not only displays earnings and associated risks transparently but also offers flexibility for LPs. LPs can tailor their strategies precisely, optimizing returns and effectively managing risks.\n- Reintroduction of Passive LPing: Panoptic brings back passive liquidity provisioning, enabling LPs to earn returns without the hassle of choosing price ranges, rebalancing, or impermanent loss.\n- Enhanced Liquidity for Spot Trading: By establishing a two-sided market for LP tokens, Panoptic ensures more stable and responsive liquidity, benefiting swappers.\n- Options and Perps Synergy: Options trading on Panoptic can drive increased usage of perpetual contracts for hedging, thereby integrating the use of both instruments in a complementary fashion.\n- Arbitrage Opportunities: The introduction of perpetual options opens new arbitrage possibilities between Panoptic and existing options protocols, promoting market efficiency and offering traders more strategies to capitalize on price discrepancies.\n", "hidden": false, "question": "What benefits will this project bring to Uniswap in the Arbitrum ecosystem?", "questionId": 8}, {"type": "short-answer", "answer": "Yes, we have undergone multiple audits and are currently undergoing additional third party audits.   The Panoptic codebase was audited by ABDK, OpenZeppelin and Code4rena. The protocol is currently undergoing further audits by Code4rena and Trail of Bits which will conclude in May 2024.", "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, visit the repository here: https://github.com/panoptic-labs/panoptic-v1-core ", "hidden": false, "question": "Is this project open-source? (If yes, share the repository link).", "questionId": 10}, {"type": "paragraph", "answer": "Panoptic\u2019s smart contracts are developed in Solidity. For code reliability, we utilize the Foundry test suite. Additionally, we leverage Echidna to rigorously fuzz test our smart contracts against potential vulnerabilities.", "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": "Yes. You can demo Panoptic\u2019s trading platform on Base here: https://deeznuts.panoptic.xyz/", "hidden": true, "question": "Does this project have a demo? If yes, share a public link.", "questionId": 12}, {"type": "short-answer", "answer": "Panoptic\u2019s target audience includes: Uniswap liquidity providers, yield seekers, retail traders, and professional traders. Our market launch plan is to (1) attract large amounts of TVL by incentivizing passive LP deposits through the attractiveness of single-sided, passive yield without impermanent loss, (2) incentivize LPs to migrate and provide liquidity to Uniswap V3 and V4 through Panoptic which enables up to 3x more returns due to the newly unlocked income stream from lending out LP tokens, and (3) enable a thriving Uniswap liquidity management ecosystem where users who want option-like payoffs to be able to take the other side of the LP position by shorting LP tokens. This three-pronged strategy of passive liquidity and a two-sided LP market will bring large amounts of TVL and volume to Uniswap 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": "Core members of our team include: \n- Guillaume Lambert (@guil_lambert)\n- 0xTARC (@0xTARC)\n- Henry Frederick (@namedserver)\n- Brandon Ly (@brandonly1000)", "hidden": false, "question": "Who are the members of the team?", "questionId": 14}, {"type": "paragraph", "answer": "Guillaume Lambert, the CEO and founder of Panoptic. Guillaume is a Uniswap grant recipient, a seasoned DeFi researcher, a former professor of Applied Physics at Cornell, and the author of several influential articles on Uniswap V3. Recognized as a thought leader in the DeFi realm, he brings a strategic vision and deep understanding of the complexities and potential of liquidity provisioning in AMMs.\n\n0xTARC, full-stack Web3 developer leading the frontend and API development for Panoptic. His expertise lies in blockchain indexing with The Graph, DApp development, and data visualization. He is experienced with Uniswap V3's event data, math, and subgraph along with creating new subgraphs for protocols building on Uniswap.\n\nHenry Frederick, smart contract engineer lead and world-class developer in the blockchain space. Henry leads the development of the Uniswap V4 integration of the Panoptic protocol.\n\nBrandon Ly, research and engineering manager at Panoptic. His background is in quantitative trading where he previously forecasted liquidity as a quant at Goldman Sachs and tested portfolio management and derivatives-based arbitrage strategies at Kyber Network\u2019s proprietary fund.\n", "hidden": true, "question": "Describe team members' experience and current roles for this project.", "questionId": 15}, {"type": "paragraph", "answer": "Milestone #1: Panoptic mainnet launch on Uniswap V3 on Arbitrum\nGoals:\n- Integration with Uniswap V3 on Arbitrum network is completed\n- Completed third party security audit\n- Reach $500,000 in average daily notional volume\n- Reach $5M total TVL for a 2 week period on Arbitrum\n\nHow to track progress: Dune dashboard\n\nMilestone #2: Uniswap V3 Arbitrum Growth \nGoals: \n- Reach $2.5M in average daily notional volume\n- Reach $25M total TVL for a 2 week period on Arbitrum\n\nHow to track progress: Dune dashboard\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": "Panoptic\u2019s approach to reaching these milestones begins with our groundbreaking feature that introduces single-sided, passive liquidity provisioning to Uniswap, designed to significantly attract depositors looking for passive yield opportunities. This innovation is expected to bring substantial TVL into the ecosystem by simplifying the participation process and reducing the entry barriers for new and existing users.\n\nFurthermore, the creation of the first two-sided market for Uniswap LP tokens will cater to a diverse range of ecosystem participants, from active LPs aiming to maximize returns to traders seeking leveraged positions with managed risks.\n\nWe plan to implement a robust marketing campaign to educate and engage potential users, alongside forming strategic partnerships with key ecosystem players to enhance our platform's reach and integration.\n", "hidden": false, "question": "How do you plan to reach these milestones? (Explain the project feasibility).", "questionId": 17}, {"type": "multiple-choice", "answer": "Yes", "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 were recommended to apply to the UAGP by the Arbitrum team.", "hidden": true, "question": "How did you find out about UAGP?", "questionId": 21}, {"type": "paragraph", "answer": "We would like to extend our sincere gratitude to 0xWenMoon for his invaluable support and guidance throughout the application process. His expertise and insights have been instrumental in refining our proposal and enhancing our project's potential.\n\nFurthermore, we would like to highlight our strong backing from investors who believe in our vision and commitment to innovation. Please find below the contact information of our lead investors, who are available for further discussion and validation of our project's credibility and potential impact.\n\ngumi Cryptos Capital: Contact - Rui Zhang (rui.zhang@gumi-cryptos.com)\n\nGreenfield Capital: Contact - Gleb Dudka (gleb.dudka@greenfield.xyz).\n\nThank you for considering our application. We are eager to bring our vision to life with your support.", "hidden": true, "question": "Additional information", "questionId": 22}, {"type": "short-answer", "answer": "N/A", "hidden": true, "question": "Special requests", "questionId": 23}], "project": {"id": "0x7bbb57a28401eea4b08da8aaef2b248502686ad27a9f438690eb10bdd19af61d", "title": "Panoptic - UAGP", "logoImg": "bafkreiab6fjgtp45bskxsin4jfad2ecp3ywxjs2zz2h2wfjdihn34qaqpa", "metaPtr": {"pointer": "bafkreihdhncnr5wjjspcot6ejrjnywfjsppdycpq73hzxlpzbxddodtaga", "protocol": "undefined"}, "website": "https://panoptic.xyz", "createdAt": 1714072949543, "userGithub": "BrandonL20", "credentials": {}, "description": "Panoptic is a permissionless way to trade crypto options. We enable options trading on any token, any strike, any size. Our options are perpetual \u2013 they never expire.\n\nMore here: panoptic.xyz", "lastUpdated": 0, "projectGithub": "panoptic-labs", "projectTwitter": "Panoptic_xyz"}, "recipient": "0xD5A9B9E2159acBe09a38F25DE16E4Ab96ED2cb5E"}}