GammaSwap LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/gammaswap-ltipp-application-draft/21586

Council - 3/4 Yes Votes

Feedback

Wintermute Feedback) GammaSwap’s application was good and scored well across a range of criteria. They provide clear and concise explanations of their milestones, KPIs, and objectives. Their product is innovative and unique and attempts to solve a major problem for one of the largest DeFi categories. We really like their esARB mechanism which should create a notable amount of supply side benefits post LTIPP. Their execution strategy is sound and their TVL estimations and calculations are sufficiently justified. Unfortunately, they are a niche product that is complex and may not appeal to a lot of users which is indicated in their lack of adoption. Nonetheless, there still seems to be some baseline of activity. Their requested grant size is on the larger end for their protocol usage, however, given the points above we think it’s sufficiently justified. We will be supporting this application.

GFX Feedback) This application largely suffered from being a very large request relative to the TVL and age of the protocol. It would also have benefited from more details around under what conditions or guidelines the incentives would be deployed, as they currently appear to be very discretionary for the applicant. Recommend the applicant resubmit in future grants cycles once there is more history and an initial success to build upon using grant funding.

404 DAO Feedback) GammaSwap presented a strong application, scoring well across most of the rubric. We did feel the grant ask was a little high relative to their TVL, but given the uniqueness to their product we can understand how the protocol may not attract your everyday user. Given the strength and justification of their execution strategy, KPIs, and milestones we are supportive of this proposal to move to a DAO vote.

Karel Feedback) Vote FOR GammaSwap's proposal.

Good proposal that scored well across the rubric which sufficient justifications around the grant size, the approach to executing against the plan, and maintaining results after LTIPP. Novel and innovative protocol that provides some degree of differentiation in contrast to the market which supports some of the stickiness considerations. They've demonstrated modest traction and adoption on Arbitrum to "test the waters" without incentives, and while the grant size requested is on the higher end in contrast to their TVL (~1-2 thirds of it), believe this is a worthwhile investment from the DAO to scale up adoption based on initial results.