Steadefi LTIPP Council Recommended Proposal

Steadefi LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/steadefi-ltipp-application-draft/21663

Council - 3/5 Yes Votes

Feedback

Wintermute Feedback) Steadefi’s application provided clear calculations and justifications for their grant size, milestones, KPIs, and goals. Their project builds on top of GMX adding additional utility to the protocol. Their requested grant size seems reasonable given the current TVL, however, some of their TVL goals are a bit ambitious. Their execution strategy is clear with a detailed list of vaults and pools they will be focusing on. We would’ve liked to have seen some more innovation on the incentive side with a focus on stickiness. Nonetheless, we think the application is sufficient enough to progress to a DAO vote.

GFX Feedback) The applicant has shown recent signs of growth, and we would like to support increasing that. To that end, it would have been helpful if the applicant identified specific mechanisms that they attribute current or past successes to, and then tailored their grant plan specifically to replicating or scaling that success. Given the size of the grant request, we prefer to see some data to validate a specific execution plan.

Karel Feedback) "Vote AGAINST Steadefi's proposal.

Detailed proposal who has shown impressive growth since launching v2. Gitcoin Passport implementation is interest to protect against sybils. The grant size on its own is reasonable but do not feel it has been sufficiently justified to effectively 10x TVL by the end of the LTIPP (across both lending and strategy vaults). Much of the justification was drawn around the target and associated assumptions to fill in the blanks to form a path to get there vs. drawing from data to execute against."

GMX Feedback) The proposal from Steadefi outlines a comprehensive plan to attract and retain liquidity within the Arbitrum ecosystem through incentivizing users and providing innovative leverage yield strategies. Their detailed roadmap, including specific milestones and KPIs, demonstrates a clear path to achieving their objectives. Additionally, the team's past performance, security measures, and engagement with the community instill confidence in their ability to execute on their plans. The requested grant size and justification are reasonable given their projected impact on TVL and user growth. Overall, Steadefi's proposal aligns well with the objectives of achieving growth and making it a strong candidate for approval.

404 Feedback) Steadefi presented a strong application that covered all components of the rubric. Their current usage is a little low for the grant ask and their execution strategy could have used more justification/reasoning behind how they have chosen their pools. However, their proactive approach to sybil attacks by using Gitcoin passport is a plus and we believe this likely leads to a lower grant claim than allocated. Their milestones are effectively designed to measure their success and we appreciate their feasibility component in justifying each KPI. We will be supporting this application.