SECTION 1: APPLICANT INFORMATION
Provide personal or organizational details, including applicant name, contact information, and any associated organization. This information ensures proper identification and communication throughout the grant process.
Applicant Name: Kingsley
Project Name: Allo.xyz
Project Description: Layer 1 Blockchain for Real World Assets
Team Members and Roles:
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Kingsley (Founding CEO)
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Luis (Founding Operations, Legal, Compliance lead)
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Guillaume (Founding engineering)
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Pankaj (Founding engineering)
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Ayush (Founding engineering)
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Mihai (Founding sales)
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Harman (Founding go to market)
Project Links:
Point of Contact - Kingsley
Point of Contact’s TG handle: ####
Twitter: @allo_xyz
Email: ####
Do you acknowledge that your team will be subject to a KYC requirement?: [Yes/No] Yes
SECTION 2a: Team and Product Information
Provide details on your team’s past and current experience. Any details relating to past projects, recent achievements and any past experience utilizing incentives. Additionally, please provide further details on the state of your product, audience segments, and how you expect incentives to impact the product’s long-term growth and sustainability.
Team experience (Any relevant experience that may be useful in evaluating ability to ship, or execution with grant incentives. Please provide references knowledgeable about past work, where relevant. If you wish to do so privately, indicate that. [Optional, but recommended]):
Kingsley Advani
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Built $2bn in assets web2 platform
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Angel investor in 200+ companies
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Fund manager for 30 funds
Luis Brecci
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DAO researcher at Cornell University
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Cornell LLM ““Master of Laws””
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Managing Director at Top US Fund Administrator for Venture Capital Deals
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M&A Lawyer specialized in Private Equity and Venture Capital Transaction
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Board Member at BioSchwartz (Top US Amazon Seller bought by Private Equity Group)
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Specialized in legal regulatory and securities matters relating to the Blockchain Industry
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Worked with Kingsley since 2017
Guillaume Duhan
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CTO
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50,000 followers on YouTube
Pankaj
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Build cross-chain protocol on {ETH, Solana, Cosmos, Polkadot}. Magpie Protocol
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Core open-source developer of Helium & Solana migration for DeWi.
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Build multisig wallet for more than 10+ chains. (Liminal)
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Ex Mircosoft in AI/ML.
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Applied Mathematics from MIT.
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Reasearcher in Lattice Algorithm.
Harman
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Top 50 Blockchain influencers India
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Author of ““Why Blockchain””
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Previously built a marketing company in Web3
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6 years experience in Web3
Ayush
- 3 years of experience in Web3
What novelty or innovation does your product bring to Arbitrum?
RWAInvest - Instant investing in real-world assets
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Crypto native RWAs for crypto people (starting with SAFTs)
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RWAFractions - Own decimal points of real-world assets
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RWACompliance - Stored in Arbitrum at sequencer level on Arbitrum Orbit
FlashRWA - Instant tokenization of real-world assets
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Instant tokenization
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ERC-24 standard for RWAs
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Real-time settlement
RWADefi - Decentralized trading
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Unitization proprietary ledger
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Tokenized investment buckets
Is your project composable with other projects on Arbitrum? If so, please explain:
Yes
Allo is a Layer 1 Blockchain platform dedicated to tokenizing Real World Assets (RWAs). Utilizing our proprietary token standard, ERC 24, we’ve made the tokenization process seamless, converting ownership rights into digital tokens on a blockchain. It provides access to a wide array of tokenized liquid assets for projects in DeFi, exchanges, lending platforms, and other financial service providers in the Arbitrum ecosystem.
Since Allo has experience with creating SPVs at scale, as evident from the $2 Billion of assets already digitized under Allocations, we provide a platform that empowers other projects from regulatory and compliance perspectives.
Furthermore, STOs and the simplification of document management on Allo provide a robust framework for other projects looking to issue their tokens or manage asset-related documents within the Arbitrum network. This compatibility enhances the composability of Allo with projects aiming to tokenize real-world assets or manage complex token economies.
Allo’s platform features, such as on-chain transfer validation, batch functions, and compliance & share class management, are built to support easy integration with other financial and regulatory technologies. This means that other projects on Arbitrum can leverage Allo’s infrastructure for their asset management, compliance, and transaction validation needs, creating a cohesive and efficient environment.
Key features under this are:
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Smart contract compatibility
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Cross-chain features
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Architectural flexibility
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ERC-24 standard open codebase
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DeFi integrations
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RWADefi
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RWACompliance
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Bridge Abstractions and Gas Abstractions
Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains?
Yes, but we have significant USPs over our competitors.Apart from the committed LOIs, we have industry-leading framework for regulatory compliance, as well as the skill to bring a diverse asset class on-chain for better yield opportunities to our users.
How do you measure and think about retention internally? (metrics, target KPIs)
Transaction Value Locked is the no. 1 metric that we measure. However, since Allo has $2 Billion worth of assets making us one of the largest platforms in terms of TVL potential, we are focusing on several other key metrics to ensue consistent growth.
Here are the primary metrics and target KPIs we focus on internally:
Daily Active Users (DAUs) and Monthly Active Users (MAUs): By tracking the number of unique users who engage with our platform daily and monthly, we can gauge the stickiness of our platform. Our DAU and MAU for Allo are based on our previous data in Allocations, where we have 20,000 users in total.
User Lifetime Value (LTV): By maximizing LTV through enhanced user experiences and investment opportunities, we aim to improve retention.
Our strategy in LTV is twofold.
One, we have created a highly intuitive and simple-to-use interface to invest, stake, and tokenize assets on-chain.
Two, our team has experience in setting up dedicated customer support for DeFi, wherein the trained executives handle advanced customer queries such as problems with wallet integration of users, transaction fee explanations, network-related queries, and more.
Repeat Investment Rate: This metric measures the percentage of users who make more than one investment on our platform. It helps us understand how many users are repeatedly finding value in our offerings, which is a direct indicator of strong retention.
HotJar Integration: additionally, we have also integrated HotJar for heat maps. This constantly provides feedback regarding user’s journey on our platform, the components that users are most interested in, and the places on the platform where users might face some difficulty.
Based on this data, we constantly update our interface adapting to user reactions and comfort level.
In the future, we intend to make our interface even more personalized for different types of users based on geographies and experience with crypto platforms. For this, we will have a simple-to-use version for all users and an advanced platform with complex features for those who want to take RWAs for a spin.
We also define our retention rate categorized into various cohorts based on user acquisition channels, investment types, and other relevant criteria to identify patterns and areas for improvement.
Relevant usage metrics - Please refer to the OBL relevant metrics chart 11. For your category (DEX, lending, gaming, etc) please provide a list of all respective metrics as well as all metrics in the general section:
Allo has secured multiple partnerships with industry leaders.
One such partnership is with Allocations Inc, A top US Fund Administrator for venture capital deals which has done deals into companies like SpaceX, OpenAI, Solana, and EigenLayer.
As a result of this partnership, Allo has access to over $2 Billion in assets to be tokenized and 20,000 users from Day 1 of its launch.
Allo will continue to evolve through additional partnerships with other companies such as AltLayer and top crypto exchanges.
Do you agree to remove team-controlled wallets from all milestone metrics AND exclude team-controlled wallets from any incentives included in your plan: [Yes/No]
Yes
Did you utilize a grants consultant or other third party not named as a grantee to draft this proposal? If so, please disclose the details of that arrangement here, including conflicts of interest (Note: this does NOT disqualify an applicant):
No
Provide details about the Arbitrum protocol requirements relevant to the grant. This information ensures that the applicant is aligned with the technical specifications and commitments of the grant.
- Bring liquidity and a range of alternate asset classes on the Arbitrum chain
- Ensure our ERC-24 Standard and tokenization processes are compatible with Arbitrum’s Layer 2 scaling solutions
- Leverage Arbitrum’s roll-up technology to achieve high throughput and low transaction costs for features such as FlashRWA
- Implementation for cross-chain functionality
- Proven ability to create SPVs at scale.
Is the protocol native to Arbitrum?: [Yes/No, and provide explanation]
Yes, Allo is native to Arbitrum.
Allo is built specifically for the tokenization and liquidity of real-world assets
On what other networks is the protocol deployed?: [Yes/No, and provide chains]
Not yet, planned on Ethereum Mainnet in April 2024.
What date did you deploy on Arbitrum mainnet?: [Date + transaction ID. If not yet live on mainnet, explain why.]
Contracts deployed on Arbitrum Sepolia:
Successfully verified contract AlloTokenizerFactory on the block explorer.
Successfully verified contract aUSDC on the block explorer.
Successfully verified contract AlloInvestPool on the block explorer.
Successfully verified contract AlloTokenDistributor on the block explorer.
AlloTokenDistributor | Address 0x178FB916c96F7085228abAcCBA24490483F28Fca | Arbiscan"
Do you have a native token?: [Yes/No/Planned, link tokenomics docs]
Planned native token - ALLO
Link to tokenomics
Past Incentivization: What liquidity mining/incentive programs, if any, have you previously run? Please share results and dashboards, as applicable?
Not yet
Current Incentivization: How are you currently incentivizing your protocol?
- Airdrop
- Staking
- Trading fees
- Point-based system for user loyalty
Have you received a grant from the DAO, Foundation, or any Arbitrum ecosystem related
program? [yes/no, please provide any details around how the funds were allocated and any relevant results/learnings(Note: this does NOT disqualify an applicant)]
No
Protocol Performance: [Detail the past performance of the protocol and relevance, including any key metrics or achievements, dashboards, etc.]
Currently, our protocol’s performance metrics include:
- 1.3 million potentially in daily transactions - just from existing partnerships
Based on the daily transacting volume of Allocations.
- Transaction Throughput - 50-100 transactions per minute
- Network Stability - minimal downtime or disruptions
- Security - implementing robust security measures, rigorous testing and audits
- Dashboard Insights - Monitoring transaction volume, network activity, and user engagement"
Protocol Roadmap: [Describe relevant roadmap details for your protocol or relevant products to your grant application. Include tangible milestones over the next 12 months.]
Q1 2024
-Launch of Protocol Upgrade
-Augmenting scalability and performance
-Tokenization of Real-World Assets (RWA) such as SAFTs, Venture Capital, Luxury Items
-Invest flow to allow global investment into RWAs
-Integration of a staking mechanism
Q2 2024:
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Blockchain enabled Compliance solution
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Expansion of Ecosystem Partnerships
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Multiple use case implementation
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Launch of Developer Grants
Q3 2024:
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Cross-Chain Compatibility
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Protocol Governance Enhancements
Q4 2024:
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Launch of Decentralized Autonomous Organization (DAO)
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Enhanced User Experience
Audit History & Security Vendors: [Provide historic audits and audit results. Do you have a bug bounty program? Please provide details around your security implementation including any advisors and vendors.]
Prior to the Allo main net launch, Allo intends to release a comprehensive bounty program aimed at securing the platform.
Further, Allo has been in talks with QuantStamp and other security vendors to undergo security audits, prior to mainnet launch.
Security Incidents: [Has your protocol ever been exploited? If so, please describe what, when and how for ALL incidents as well as the remedies to solve and mitigate for future incidents]
No
Detail the requested grant size, provide an overview of the budget breakdown, specify the funding and contract addresses, and describe any matching funds if relevant.
SECTION 3: GRANT INFORMATION
Requested Grant Size: [Enter Amount of ARB Requested]
550,000 ARB
Justification for the size of the grant 20: [Enter explanation. More details are better, including how you arrived at the required funding for individual categories of expenses covered by your grant plan]
Grant Matching: [Enter Amount of Matching Funds Provided - If Relevant]
Grant Breakdown: [Please provide a high-level overview of the budget breakdown and planned use of funds]
Spending Plan
Funding Address: [Enter the specific address where funds will be sent for grant recipients]
Pankaj to share fireblocks address
Funding Address Characteristics: [Enter details on the status of the address; the eligible address must be a 2/3, 3/5 or similar setup multisig with unique signers and private keys securely stored (or an equivalent custody setup that is clearly stated). The multisig must be able to accept and interact with ERC-721s in order to accept the funding stream.
Treasury Address: [Please list out ALL DAO wallets that hold ANY DAO funds]
Contract Address: [Enter any specific address that will be used to disburse funds for grant recipients]
Clearly outline the primary objectives of the program and the Key Performance Indicators (KPIs), execution strategy, and milestones used to measure success. This helps reviewers understand what the program aims to achieve and how progress will be assessed.
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Enhance the technical infrastructure to support FlashRWA (Two Minute Tokenization)
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Ensure robust, scalable, and secure operations.
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Expand the Allo Aggregator and Allo ARC capabilities for broader asset inclusion and interoperability.
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Increase platform accessibility and usability to attract and retain a wider user base.
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Strengthen compliance and security measures to meet global regulatory standards.
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Drive adoption through targeted marketing and community engagement initiatives.
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Partner with and bring top influencers to the Arbitrium ecosystem."
SECTION 4: GRANT OBJECTIVES, EXECUTION AND MILESTONES
Objectives: [Clearly state the primary objectives of the grant and what you intend to achieve]
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Accelerate the development and adoption of the tokenization
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Enhance liquidity of real-world assets
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Achieve scalable and secure operations
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Bring new asset classes
Execution Strategy: [Describe the plan for executing including token distribution method (e.g. farming, staking, bonds, referral program, etc), what you are incentivizing, resources, products, use of funds, and risk management. This includes allocations for specific pools, eligible assets, products, etc.]
Token Distribution Methods
Farming: Users will receive ALLO tokens as rewards for liquidity provisioning to specific pools. This incentivizes deep liquidity and stable markets for tokenized assets.
Staking: ALLO token holders can stake their tokens to earn a yield. This method is aimed at securing the network and rewarding long-term holders.
Bonds: Sell ALLO tokens at a discount in exchange for liquidity provider (LP) tokens, locking in liquidity for a predefined period and gradually releasing ALLO tokens to bond purchasers.
Referral Program: Users introducing new participants to the platform will earn ALLO tokens, encouraging network growth and engagement.
What We Are Incentivizing
- Deep liquidity for tokenized real-world assets to ensure efficient market operation.
- Long-term holding and participation in the network governance, enhancing network security and alignment with community interests.
- Initial liquidity provision for newly tokenized assets, supporting market expansion and asset diversity.
- Community engagement and network growth through referrals.
Allocation to Liquidity Pools: Specific pools will be targeted for initial liquidity incentives, focusing on high-demand real-world assets to attract a broad user base.
What mechanisms within the incentive design will you implement to incentivize “stickiness” whether it be users, liquidity or some other targeted metric? [Provide relevant design and implementation details
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Airdrops
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Staking
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Loyalty rewards
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Cross-chain rewards
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Bounty programs
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UI/UX enhancements
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Compliance support for new asset onboarding
Specify the KPIs that will be used to measure success in achieving the grant objectives and designate a source of truth for governance to use to verify accuracy. [Please also justify why these specific KPIs will indicate that the grant has met its objective. Distribution of the grant itself should not be one of the KPIs.]
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DAU
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MAU
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Daily Transaction Volume
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Monthly Transaction Volume
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Number of deals
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Revenue generated
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Profitability
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New user growth - community growth
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Retention rate
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Partnerships with industry leaders
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New asset classes onboarded"
Grant Timeline and Milestones: [Describe the timeline for the grant, including ideal milestones with respective KPIs. Include at least one milestone that shows progress en route to a final outcome. Please justify the feasibility of these milestones.]
Milestone Based
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Allo mainnet launch on Arbitrum - 55,000 ARB
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Tokenize $2 Bn in assets - 110,000 ARB
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Close and execute on at least 5 partnerships with industry leaders to increase volume - 55,000 ARB
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Reach 100 deals on-chain for tokenized assets - 55,000 ARB
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Reach 50k community on social media - 55,000 ARB
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Bring additional asset classes on-chain -Real estate, luxury assets - 55,000 ARB
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Cross-chain Interoperability with 2 Layer 1s - 55,000 ARB
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ERC-24 for FlashRWA - 55,000 ARB
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Reach 100k community on social media - 55,000 ARB
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem? [Clearly explain how the inputs of your program justify the expected benefits to the DAO. Be very clear and tangible, and you must back up your claims with data]
We want to empower 10 Dapps to bring $1 Bn in assets using our proprietary technology such as ERC - 24.
Arbitrum ecosystem will have access to the information with regards to how we have already tokenized $2Bn in assets.
Allo already has partnerships with leading investors through Allocations, so all the Dapps building on Allo will be exposed to a network of such people, for potential asset LOIs. "
Do you accept the funding of your grant streamed linearly for the duration of your grant proposal, and that the multisig holds the power to halt your stream? [Yes/No]
Yes
OpenBlock Labs has developed a comprehensive data and reporting checklist for tracking essential metrics across participating protocols. Teams must adhere to the specifications outlined in the provided link here: Onboarding Checklist from OBL 14. Along with this list, please answer the following:
Is your team prepared to comply with OBL’s data requirements for the entire life of the program and three months following and then handoff to the Arbitrum DAO? Are there any special requests/considerations that should be considered?
Yes
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread that reference your OBL dashboard? [Please describe your strategy and capabilities for data/reporting]
Yes
First Offense: *In the event that a project does not provide a bi-weekly update, they will be reminded by an involved party (council, advisor, or program manager). Upon this reminder, the project is given 72 hours to complete the requirement or their funding will be halted.
Yes
Second Offense: Discussion with an involved party (advisor, pm, council member) that will lead to understanding if funds should keep flowing or not.
Yes
Third Offense: Funding is halted permanently
Yes
Does your team agree to provide a final closeout report not later than two weeks from the ending date of your program? This report should include summaries of work completed, final cost structure, whether any funds were returned, and any lessons the grantee feels came out of this grant. Where applicable, be sure to include final estimates of acquisition costs of any users, developers, or assets onboarded to Arbitrum chains. (NOTE: No future grants from this program can be given until a closeout report is provided.)
Yes
Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program’s funding stream?: [Y/N]
Yes