SafePal LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/safepal-ltipp-application-draft/21778

Council - 3/3 Yes Votes

Feedback

GFX Feedback) The project and and grant plan offer a novel way to connect Arbitrum to real-world banking. It’s unclear how many users will want to connect an Arbitrum address to banking services, but the structure of the connection (via NFT) and the nature of payment services suggest any users will be extremely sticky to Arbitrum as a chain.

GMX Feedback) Safepal’s grant proposal introduces an innovative strategy for linking Arbitrum with traditional banking services. While the potential demand for connecting an Arbitrum address to banking remains uncertain, this approach creatively enhances ecosystem engagement by leveraging payment rails and banking facilities. Although we have reservations about the $20 CPA, this initiative presents an opportunity for experimentation to assess its viability on Arbitrum. If successful, it could serve as a model for collaboration with other wallet providers and payment rails in the future.

404 Feedback) SafePal provided a thorough justification for the grant size along with clear milestones, KPIs, and a solid distribution strategy. We ranked them high on sybil resistance due to the requirement of a banking KYC. The SafePal banking gateway and Visa card product is novel and an exciting addition to the Arbitrum ecosystem that we believe will bring in new users.

Some additional points for improvement, there was a lot of duplicated content and several details could have been more concise. While the details and context were sometimes helpful, the length and redundancy of info made it sometimes difficult to grade the application. Additionally, SafePal provided a lot examples of previous incentive programs and product usage, but there was no way to verify most of this information.