Verified USD LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/verified-usd-ltipp-application-draft/21833

Council - 3/3 Yes Votes

Feedback

GMX Feedback) Generally supportive of Verified USD’s application. Stablecoins, while a competitive sector, are a primitive necessity for DeFi. It is one of the few sectors where you want a lot of competition because there are generally a lot of different approaches to a solution. Additionally, Verified USD wants to utilize the adoption of RWAs in their stablecoin model, which has some novelty. The team's proactive engagement with key partners such as Fiat24 and MugglePay, coupled with their track record of successful liquidity programs and ecosystem support, instills confidence in their ability to effectively utilize the grant funds to foster growth and innovation within the Arbitrum network. Additionally, their willingness to accept linear funding and the oversight of a multisig further ensures accountability and transparency throughout the grant execution process. Overall, this proposal aligns with the goals of promoting ecosystem development and advancing the utility of USDV within Arbitrum, making it a compelling candidate for approval.

Karel Feedback) Vote FOR Verified USD's proposal.

Strong proposal that scored well across rubric (execution plan, grant justification, breakdown, milestones, etc.). Interesting opportunity to drive greater USDV adoption on Arbitrum from other ecosystems. Would have liked to see more justification re: why MugglePlay / Fiat24 as strategic partners for integration over others and also to fully confirm whether rebates to MugglePay/Fiat24 are to partners or directly to end-users. Regardless, support this moving to DAO.

404 Feedback) VerifiedUSD presented a well-rounded proposal scoring well in most all categories. We support their integrations for enabling payments onchain and felt they provided solid justifications in their grant ask and planned strategy. We will be supporting this application.