Context

In light of our recent gift of 350k veRAM that is in the treasury, Firebird has been given another great opportunity to reward swappers and further strengthen our partnership with Ramses on Arbitrum.

Typically, the trading competitions that have been hosted on Firebird hosted have relatively small reward allocations, (excluding the experimental Race of Rabbits that was done on multiple chains with multiple project partners) . However, this time there is a need for an FTU vote as this trading campaign will be funded by our friends from Ramses with a very generous 50k $RAM ($10k at time of writing). Therefore, the team feels we should match that prize pool, but won't do it without community consent and backing.

Justifications:

• Trading competitions so far have been able to increase trading volume of tokens by 50% - 70% on average, and with volume of 1 million per day for RAM token, we can expect a sizable increase.

• Assuming this will be one of biggest weeks in Arbitrum history because of the upcoming airdrop, any amount of marketing exposure should have a long standing positive effect on Firebird.

• It’s also worth noting, this campaign is a second step in our friendship with Ramses as something else is also on the horizon..

Risks:

Arbitrum week being overhyped not resulting in the increase in volume we are expecting Ramses volume being lower than expected

Mitigations:

Consensus is that Arbitrum will have a solid week, but even if it doesn’t, trading competitions with tokens with much less exposure than ramses have seen a decent increase in volume in the past.