Lumin Finance LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/lumin-finance-ltipp-application-draft/21959

Council - 3/3 Yes Votes

Feedback

404 DAO Feedback) A decent application that score below average due to its current usage metrics and deployment date on Arbitrum (We’ve noticed that the rubric does seem to bias a bit too heavy towards established projects, and this is in our opinion an application that reflects a good idea that scored low). Given its a peer to peer lending protocol we thought their might be some sybil concerns where individuals could just net the ARB yield, but given the over-collateralization requirements feel that this is mitigated. Otherwise, we felt this was really well presented grant request and we really liked that they divided the ARB based on milestone metrics. We will be supporting this application as fixed rates and peer to peer lending is an area Arbitrum could compete better on.

Karel Feedback) "Vote FOR Lumin Finance's proposal.

Decent proposal and novel implementation (loans as NFTs to individualize loans + tradeable on the marketplace). Good execution strategy. Little product usage given date of deployment but believe it's a low risk grant that is dependent on the achievement of goals. For moving to DAO to decide. "

Wintermute Feedback)

Lumin’s application was solid despite the low overall score. They did well in calculating and justifying their grant request and provided clear objectives, KPIs, and milestones. We liked that they split their grant request into two stages, requiring their protocol to hit certain milestones before having their second tranche of ARB unlocked. Their protocol also offers some unique product offerings and is pretty composable. However, they did score poorly due to their lack of product usage and age of deployment on Arbitrum. As a result, this pulled down the expected benefit from their requested grant size. We think this application is worthy of progressing to a DAO vote as they have a clear vision of intended grant use with key milestones and they will only receive the full funds of the grant if they are successful in reaching their KPIs.