Okto LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/okto-ltipp-application-draft/21633

Council - 3/3 Yes Votes

Feedback

404 Feedback) Okto brings a mobile first trading experience that we think has the opportunity to onboard new users from a large growing market - India. That have clear execution plan with decently ambitious goals of 10x volume and 5x users & TVL. Their milestones and KPIs are clear and effective - overall a solid application that justified an appropriate ask of 50k ARB. While we feel like to large of a percentage is allocated to the ARB Leaderboard Competition and it was hard to verify some of their usage data, we will be supporting this application.

Karel Feedback) "Vote FOR Okto's proposal.

Interesting proposal and mobile-first product focused on India, a prime crypto region of the world who is very mobile-friendly. As a multichain wallet, they have many chain partnerships ranging from 10 EVM chains (Polygon zkEVM), Aptos, and soon Solana and Cosmos. Initially, was a bit concerned but their Okto Futures product will be native to Arbitrum which has seen decent traction since launching. See an opportunity to drive users, volume, and TVL to Arbitrum through their product. Revised grant size is reasonable. "

GMX Feedback) The app is currently in the beta phase but has already shown impressive numbers. Given the grant's size, it's a clear choice based on the demonstrated metrics, and their commitment to matching the grant with generated fees adds further incentive. Notably, there's currently a lack of mobile-native futures aggregators within the Arbitrum ecosystem or on any other blockchain, particularly those integrated directly with supported wallets as proposed. The benefits of funding this innovative product outweigh the grant's cost and will likely drive increased adoption of Arbitrum among mobile users. The KPIs and milestones align well with the request size, indicating a reasonable and achievable roadmap for the project. Overall, this proposal presents a compelling opportunity to support the development of a unique and much-needed tool in the ecosystem.