Beefy LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/beefy-ltipp-application-draft/21331

Council - 3/3 Yes Votes

Feedback

404 DAO Feedback Beefy presented a clear execution strategy to help use incentives to bootstrap its new ALM products. The rest of their application was also very thorough in regards to milestones, KPIs, and available data. Their team has proven its ability to execute and they have gained significant traction on Arbitrum since STIP. Overall, we believe they have properly justified the grant request and we’ll be supporting this application.

GFX Feedback Beefy offers a strong track record, a long history with Arbitrum, scored highly in security, and presents a straightforward plan of execution. We recommend this grant be approved.

GMX Feedback Yes, we will be supporting the proposal. Beefy has a solid reputation and a proven track record of building successful protocols not only on Arbitrum but also across other EVM ecosystems. The team's experience is commendable, instilling confidence in their ability to deliver on their proposed milestones. However, there is a concern regarding the timeline for disbursing the incentives, as the proposed timeframe seems to exceed the duration of the program. This discrepancy should be addressed to ensure proper fund allocation and utilization. The Beefy ALM product is innovative, leveraging concentrated liquidity from various DEXes on the Arbitrum ecosystem to incentivize users, which is a unique approach to distributing incentives. Nevertheless, there are some weaknesses to consider, such as the potential lack of stickiness of liquidity gained via LTIP Rewards and the competition in the concentrated liquidity space. Additionally, the selection criteria for incentivized pools and the sizable grant amount for an unproven product raise some concerns. While the project shows promise, it may face challenges in attracting significant TVL without sufficient incentives. Overall, while the proposal has strengths, it also presents valid concerns that warrant careful consideration before allocating funds.