SECTION 1: APPLICANT INFORMATION
Applicant Name or Alias: dappOS
Project Name: dappOS
Project Description:
dappOS is an intent-centric operating protocol providing a CeFi-like chainless user experience
and is backed by top tier investors like Binance Labs, Sequoia and OKX Ventures. dappOS currently has a user base of 143K and has total user assets of 15mm in the dappOS account.
dappOS V2 started to support GMX V1 and V2 in November 2023, greatly improving the user experience and helping onboard users seamlessly from other chains like Polygon,Optimism, and Ethereum,etc to scale up trading volumes and TVL.
Project Links:
Team Members:
Co-Founder: Isabella
https://twitter.com/SiiilentCode
Co-Founder: Julie
Twitter: https://twitter.com/0xJulieC
Solidity Engineer: Amir
Backend Engineer: Eden
Test Engineer: Mateo
DevOps Engineer: Levi
Product Manager: Sam
BD operation Manager: JC
Marketing Lead: Bree
Head of Community: Taylor
Contact Information
Point of Contact: Julie
Point of Contact’s TG handle: juliecui
Twitter: 0xJulieC
Email: julie@dappos.network
Do you acknowledge that your team will be subject to a KYC requirement?: Yes
SECTION 2a: Team and Product Information
Team past work experience:
The core team members have post co-founder experience in other crypto projects.
Some core members have successfully exited Web2 from investing banking. Also some team members had working experience in Google and top tier crypto projects, CEXs and funds.
What novelty or innovation does your product bring to Arbitrum?
DappOS helps bring users from other chains other than Arbitrum to the Arbitrum chain. Active interactions will help dappOS reduce fees and enhance execution speed, this in turn will retain and attract more users for Arbitrum.
Similar to CEX, users can deposit tokens from any chain and use them without the need to prepare gas tokens or distinguish the same tokens on different chains (e.g., Ethereum USDC, Arbitrum USDC.e, etc).
Is your project composable with other projects on Arbitrum? If so, please explain:
Yes, dappOS can integrate with projects on Arbitrum through building the front-end SDKs. For example dappOS integrated with GMX back in 2023 and users can access and trade on GMX through the dappOS empowered version of GMX.
Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains? N/A
How do you measure and think about retention internally? (metrics, target KPIs)
As long as users have assets in their dappOS accounts, they will stay in the dappOS ecosystem and keep being active. Therefore the main metrics and KPI we use for retention rate is MAU. We target to keep MAU against total users at above 20%.
Relevant usage metrics
Daily active users/Daily user growth/Daily transaction count/TVL/Trading volume
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
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): N/A
SECTION 2b: PROTOCOL DETAILS
Is the protocol native to Arbitrum?: Yes
On what other networks is the protocol deployed?: Ethereum, Polygon, Avalanche, Optimism
What date did you deploy on Arbitrum mainnet?: in October 2023 dappOS completed the integration with Arbitrum GMX V2
Official Twitter post:
https://x.com/dappos_com/status/1740266731359342705?s=46&t=d_Pd7SudNByFNwTIBPUtqA
Do you have a native token?: planned
Past Incentivization: What liquidity mining/incentive programs, if any, have you previously run? Please share results and dashboards, as applicable?
We have run a dappOS x Quickswap x Manta network incentive program
Stats for the program:
New users: 6558
Total tx: 110,629
Trading volume: $2,641,538
dappOS users supply 41.02% of Quickswap’s TVL making it the no.1 dApp on Manta Pacific in December 2023.
Current Incentivization: How are you currently incentivizing your protocol?
Yes: We are currently under the GMX DAO Grants (an extension of STIP) incentivization program.
TVL incentive program through APR subsidy
Trading volume incentive program through trading fee rebate and gas subsidy
Potential airdrop from our native token.
We have started the dappOS GMX trading voucher activity in Jan 2024 and have distributed over 5k vouchers to users. During the trading campaign we saw significant growth in no. of users and the transactions occurred on GMX powered by dappOS.
From the Dune dashboard links you can see the increase in total trading volume, no. of users and TVL during the incentive program period.
Please see the dashboard links for the program results:
TVL：https://dune.com/embeds/3519485/5921218/
User：https://dune.com/embeds/3502773/5890482/
Volume：https://dune.com/embeds/3343855/5854244/
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
Yes: GMX DAO Grants (an extension of STIP), total grant 100k ARB. The funds were used in incentive programs targeted to increase users, TVL and trading volume in the GMX V2.
Proposal link: https://gov.gmx.io/t/open-grant-application-gmx-dappos/2820
Please see the dashboard links for the program results:
TVL：https://dune.com/embeds/3519485/5921218/
User：https://dune.com/embeds/3502773/5890482/
Volume：https://dune.com/embeds/3343855/5854244/
TVL gained：5mm
Trading volume gained: 50mm
Users gained: 30k
Protocol Performance:
Transactions: 1,030,278
Total users: 217,680
MAU: 36,162
***A link of the dashboard of protocol performance can be provided upon request.
For protocol’s performance on Arbitrum, it will be the same link of dashboard of dappOS’ performance on GMX as we support Arbitrum mainly through GMX.
TVL：https://dune.com/embeds/3519485/5921218/
User：https://dune.com/embeds/3502773/5890482/
Volume：https://dune.com/embeds/3343855/5854244/
Protocol Roadmap:
Q1 2024 Series A round close; Optimization of GMX V2 integration. Testnet of our intent execution network.
Q2-Q3 2024 TGE; Mainnet of our intent execution network. Incentive program of our native token.
Q4 2024 Launch more middleware based on our intent execution network including social logging, intent generator by LLM.
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.]
TOB: https://github.com/trailofbits/publications/blob/master/reviews/2023-07-dappos-securityreview.pdf 1
Certik: https://skynet.certik.com/projects/dappos
Security Vendor: Architecture checked by our investors
Security implementation advisors:
Ethan, Head of Google Web3 Infura, founding member of Google Libera
Helps review technical roadmap and security related problems.
Michael Li, Vice President of Data at Coinbase
DAPPOS created a common platform to connect technology among different blockchains, which enables both better developers and user experience in the Web3 world.
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]: N/A
SECTION 3: GRANT INFORMATION
Requested Grant Size: 163,731 ARB (ARB at $2)
Justification for the size of the grant 34 (LTIPP: Framework and examples for grant size definition - Google Docs):
-
The GMX dappOS solution reduces 70% steps for users with automated and streamlined execution.
-
dappOS’s collaboration with other protocols has significantly enhanced their user onboarding from various popular chains. For example our integration with Perpetual has successfully attracted over 20,000 users in just one month.
-
We expect a comprehensive improvement in use base and TVL structure in the GMX ecosystem.
***Please see the section of Grant Breakdown below for further justification of size of the grant applied.
Grant Matching: N/A
Grant Breakdown:
While we are achieving $0.6M daily volume with $1.2M TVL, we expect to require less than 500% growth in volume to sustain a 500% growth in TVL. From assessing our previous incentive programs and using our internal expertise, we predict only a 200% growth in volume is required. Therefore, we are targeting a $6M TVL and $1.2M daily volume, equal to a 5.0 TVL/volume ratio.
For each incentivization mechanism:
We target an average of 20% APR in ARB across our pools. To
achieve this level of rewards for LPs on $6M TVL across 12 weeks, it would
require the following:
-
USD equivalent = $6M * 20% *12/52 = $276,923
-
ARB amount = $276,923 / $2 = 138,462 ARB at $2
We would like to rebate 50% of all fees paid to the platform. To achieve this, at $1.2M daily volume and a 0.1% fee across 12 weeks, it would require:
-
USD equivalent = $1.2M * 0.1% *365 * 12/52 *70% = $50,538
-
ARB amount = $50,538 / $2 = ​​25,269 ARB at $2
Funding Address: 0x7c4b3cd3a10a48745f4193c79baecb920ff1d23f
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.
The provided address corresponds to a 2/3 dappOS Multisignature wallet, with its private keys securely safeguarded.
Treasury Address: 0x7c4b3cd3a10a48745f4193c79baecb920ff1d23f
Contract Address: 0x6e8B90F530Bd157eC46c76D0583264B39049287e
SECTION 4: GRANT OBJECTIVES, EXECUTION AND MILESTONES
Objectives:
-
Increase the daily trading volume on GMX V2
-
Increase the total TVL staked in GMX V2
Execution Strategy:
We will be using two types of incentivization on dappOS empowered GMX V2:
-
Vault/Pool/LP: incentivize APR
-
Incentivize fee rebate → less cost to trade → more trades → more
volume and likely users
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]
For MAU, daily trading volume and TVL, we will send push notifications on popular dApps to users for them to try and stay in dappOS accounts.
Also we keep introducing new campaigns on popular dApp partners to our users so that they can keep active on dappOS accounts.
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.]
-
Increase the current daily trading volume to 1.2mm
-
Increase the current TVL to 6mm
Milestone 1: 31 Mar: TVL: 2.8mm, Trading Volume: 800k - 54,577 ARB
Milestone 2: 28 April, TVL: 4.4mm, Trading Volume: 1mm - 109,154 ARB
Milestone 3: 26 May, TVL: 6mm, Trading Volume: 1.2mm - 163,731 ARB
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?
Use the incentive to attract new users from other chains like Ethereum, Polygon, Optimism,BSC through campaigns. Active interactions will help dappOS reduce fees and enhance execution speed, this in turn will retain and attract more users.
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
SECTION 5: Data and Reporting
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 30. 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? Yes we will provide bi-weekly program updates on the KPIs and milestones.
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.
Second Offense: Discussion with an involved party (advisor, pm, council member) that will lead to understanding if funds should keep flowing or not.
Third Offense: Funding is halted permanently
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