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: Syou
Project Name: Equilibria Finance
Project Description: Equilibria Finance is designed exclusively for $PENDLE holders and liquidity providers, offering an easy-to-use platform to maximize your profits.
Team Members and Qualifications:
core contributors:
- doukooo - Main product architect
- twopenny - product development
- Deepink- strategy lead
Project Links:
Twitter:https://twitter.com/Equilibriafi
Telegram:https://t.me/EquilibriaFinance
Discord:Equilibria
Website:https://equilibria.fi/
Documents:https://docs.equilibria.fi/
Github:https://github.com/eqbtech/equilibria-contracts
Contact Information
TG: @syouzh
Twitter: https://twitter.com/Equilibriafi
Email: syou@equilibria.fi
Do You Acknowledge That Your Team Will Be Subject to a KYC Requirement?: Yes
SECTION 2: GRANT INFORMATION
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.
Requested Grant Size:
750K ARB
Grant Matching: n.a
Grant Breakdown:
The grant will be fully used to incentiviese the community LP holders, there will be two types of LPs
-
Incentives to EQB LP on DEXes:
This aims to boost EQB liquidity on DEXes, enhancing EQB trading on Arbitrum, benefiting traders and investors while strengthening the Arbitrum ecosystem. -
Community incentives:
To further encourage participation and investment in Arbitrum, we will introduce attractive community incentives. These incentives will include boosted rewards for Liquidity Providers (LP) and investors, effectively capturing their interest in Arbitrum. The funds will be allocated across various incentive plans, including direct incentives on deposits, market-based incentives, and special boosts on Arbitrum.
Funding Address:
0x6Bc27bE639DF9eAe4D3EFFB0159f03C54255eb89
Funding Address Characteristics:
The above address is a 2/3 multi-sig wallet with private keys securely stored in cold storage.
The signers consists of 3 core contributors from Equilibria:
-doukooo
-twopenny
-Deepink
Contract Address:
The incentive distributed to Liquidity providers will be through follow contract addresses:
0xCE3FE51756D8F070C48e1393781d76ABa244b596,
0x1147652B42c7E1018F40f40200Fa7FC77c87C9a7,
0xf8aA1d80692f72614BfB5e96AE3F92F47B920332,
0x245f1d70AcAaCD219564FCcB75f108917037A960,
0x03b86b5b4f49FD2059c813B3f928c0b276C88E4E,
0x16F46012dB0f308373Fa783a9f52655152D01594
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Clearly outline the primary objectives of the project and the Key Performance Indicators (KPIs) used to measure success. This helps reviewers understand what the project aims to achieve and how progress will be assessed.
Objectives:
Equilibria plays a pivotal role in shaping the future of the Arbitrum LSD ecosystem. Our multifaceted mission is driven by the goal of attracting LSD assets, broadening user adoption, fostering innovation, and leveraging our multi-chain expertise.
At the core, we aim to enhance liquidity and strengthen Arbitrum’s DeFi prominence by attracting LSD assets. Simultaneously, we’re dedicated to introducing new users and innovative features to the ecosystem, creating a hub for exploration and growth. Equilibria’s incentives not only fuel our growth but also act as a catalyst for the broader Arbitrum ecosystem’s expansion.
With a presence across Ethereum, BNB Chain,Optimism, and more, Arbitrum benefits from Equilibria’s multi-chain proficiency, extending its reach and driving adoption. Our mission revolves around growth, innovation, and partnership, ushering in a new era for the blockchain landscape.
Key Performance Indicators (KPIs):
Equilibria recognizes the importance of considering multiple indicators simultaneously to assess the performance of incentivized activities. Equilibria has developed sophisticated, privacy-preserving analytics tools in-house, enabling us to actively monitor and report on various metrics:
| Milestone Goal | Milestone Metric | Source of Truth |
|---|---|---|
| Expand asset pools on Equilibria to attract liquidity | > $24M TVL on Arbitrum in 120 days period (~double current TVL) | Defilama |
| Enhance ePendle liquidity on Arbitrum to attract more transactions | Create ePENDLE/PENDLE liquidity pool with seed liquidity not less than $100k | TBD |
| Promote bribe marketplace on Arbitrum and expand bribe incentives | Achieve a weekly bribe amount weekly not less than $2000 | TBD |
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?:
Our strategy involves attracting a substantial influx of LSD assets to Arbitrum. This will enhance liquidity within the ecosystem, making it more robust and attractive to DeFi users and projects. By increasing the availability of assets for trading and investment, we aim to strengthen Arbitrum’s position as a leading DeFi platform.
We are dedicated to bringing in new users and driving innovation. Equilibria will introduce cutting-edge product features and functionalities to the Arbitrum ecosystem. This includes creating a user-friendly gateway to DeFi, simplifying interactions with various DeFi products and protocols. By making DeFi more accessible and inspiring user confidence in Web 3.0, we anticipate an influx of new users and innovative projects within Arbitrum.
Our incentive programs are not just about our own growth; they act as catalysts for the broader expansion of the Arbitrum ecosystem. By incentivizing user participation, liquidity provision, governance engagement, and protocol support, we aim to create a self-sustaining cycle of growth. This, in turn, benefits the entire Arbitrum community by fostering a vibrant ecosystem.
Finally, Arbitrum will benefit from Equilibria’s multi-chain expertise. Equilibria is already present on various chains, including Ethereum, Binance Smart Chain, Optimism, and more. This presence allows Arbitrum to tap into a wider audience and diverse user base, promoting innovation through cross-chain interactions and introducing new ideas and projects to the ecosystem.
Justification for the size of the grant:
The size of the grant is justified by our existing user base and the transformative impact we aim to bring to the Arbitrum LSDFi space. Equilibria’s growth and strategic collaborations with LSDFi protocols demonstrate the potential for significant expansion. The grant’s size aligns with the resources required to rapidly develop and scale our platform, ensuring that we can capitalize on emerging opportunities.
Moreover, the grant’s allocation is intricately designed to maximize its impact. It will be strategically employed to enhance our product’s capabilities, strengthen our partnerships, and nurture community involvement. This approach underscores our dedication to making a lasting impact and solidifying our position as a catalyst for innovation in the LSDFi realm.
Execution Strategy:
Our execution strategy is meticulously designed to maximize the impact of the grant within the Arbitrum ecosystem. It closely follows the grant breakdown, ensuring that funds are allocated effectively to achieve our objectives. Here is a detailed plan for executing the grant, outlining how we intend to allocate resources and funds:
The fund will be used for incentivize the LPs,The pools which are eligible for the ARB incentives on Equilibria:
- HLP pool
- wstETH pool(DEC/23)
- wstETH pool(JUN/24)
- rETH pool
- wstETH pool(JUN/25)
- GRAIL-ARB
- ARB-ETH
- PENDLE-ETH
- USDT
- gDAI
- GLP
- EQB/WETH
The incentives will be distributed in a 4 month period no late than end of Jan,2023. And the allocation will be decided by the EQB holder and votes will be executed every month. Below shows an assumption allocation for ARB incentives.
And we believe that this will make the LP APRs attractive and compatible in the market. Below is another assumption which simulates the new TVLs we can acquire after the incentives:
Through this comprehensive execution strategy, we aim to efficiently utilize the grant funds to achieve our goals of liquidity enhancement, community participation, and ecosystem growth within the Arbitrum Chain. The allocation of funds aligns with our commitment to driving innovation and fostering a dynamic environment on Arbitrum, ultimately benefiting traders, investors, and the broader community.
Grant Timeline:
We envision the distribution of the grant funding over a four-month period no late than end of Jan, 2023. We plan to allocate the funds consistently during this time, reflecting the streaming of incentives into the Equilibria treasury.
Throughout these four months, we intend to onboard at least 5 different Arbitrum partners from the broader ecosystem. Our protocol’s implementation remains flexible, allowing us to adapt to the evolving needs of the Arbitrum community and our users.
We anticipate running a near-continuous Arbitrum-centered incentive program during the four-month funding period. We will actively demonstrate our performance against the specified KPIs through live dashboards, regular reporting, and external sources of truth, such as changes in TVL for Equilibria and its Arbitrum partners resulting from our incentive campaigns.
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 4: PROTOCOL DETAILS
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.
Is the Protocol Native to Arbitrum?:
Yes
On what other networks is the protocol deployed?:
Yes
- Ethereum
- BNB CHAIN
- Optimism
What date did you deploy on Arbitrum?:
Deployed on 9th May, 2023
Protocol Performance:
-
We managed to lock approximately 7.5 million PENDLE tokens on our platform, which account for 27% of the total vePENDLE supply.
-
Our TVL as of 26th Sep, 2023 is $45M across 4 networks, and about $12M is on Arbitrum.
-
generated from Pendle. Up to 5% of the fees will be reserved by the Equilibria treasury.
-
Our public sale was another significant achievement where we self-hosted on Arbitrum and raised 1.5 million in funds. Over 1000 unique wallet addresses have participated in our public sale. This financial boost has been pivotal in driving our initiatives and delivering on our promises.
-
We’ve been expanding across multiple chains - from our initial deployment on Ethereum and Arbitrum, to our recent foray into the Binance Smart Chain (BNB Chain). This expansion now encompasses 26 pools across three different blockchains, offering diverse opportunities to our users.
-
We introduced our Launch partner program, the objective of this program is to onboard well-known protocols across DeFi, LSD, and cross-chain as esteemed Launch Partners: Pendle Finance, Frax Finance, and GMX, each bringing unique synergies and opportunities to the Equilibria ecosystem.
More analytics and data dashboards can be found here:
Protocol Roadmap:
Q2 2023 (completed)
- Pre-launch Campaign to bootstrap the protocol;
- Completed public sale and token launched on Arbitrum;
- Completed the contract audits with Peckshield and WatchPug;
- Full launch on Ethereum Mainnet and Arbitrum, including launching all available pools of Pendle Finance, PENDLE convert, EQB lock and vlEQB voting features;
- Listed EQB on Camelot and provide liquidity and incentives for EQB;
- Enabled multi-chain votes with Snapshot.
Q3 2023 (WIP)
- Developed and expanded our platform to BNB Chain, Optimism;
- Co-marketing with potential LSD protocols, such as Rocket Pool and Frax;
- Completed auditing for new features by our audit partner;
- Developed a multi-chain voting market which enables vlEQB holders to vote from both Arbitrum and Ethereum;
- Listed ePENDLE on Maverick;
- Launched ePENDLE buyback program to maintain the ePENDLE/PENDLE peg;
- Delivered additional features to stabilize ePENDLE/PENDLE peg;
- Integrated insurance coverage;
- Completed our first EIP voting by community governance;
- Integrated the bug bounty protocol - Immunify.
Q4 2023
- Launch ePENDLE auto-compounder feature;
- Integrate with external multi-chain bribe marketplace for vlEQB;
- Develop the vote delegation feature to improve the user experience;
- Integrate with a cross-chain operating protocol to optimzie user experience;
- Enable ePENDLE on multi-chains to lower the user cost;
- Provide and incentivize liquidity for ePENDLE/PENDLE on Arbitrum;
- Launch LSD yield strategy vault
- List EQB on more DEXs.
Q1 2024
- Develop the YT/PT limit order feature;
- Launch the vlEQB yield market;
- Complete auditing for the newly developed features;
- List EQB on centralized exchange to improve the liquidity.
Audit History:
Security is a top priority for us. We’ve taken a multi-faceted approach to ensure the safety of our platform. Our smart contracts undergo rigorous audits by reputable firms like Peckshield and WatchPug. We’ve opted for a proxy-based approach for our contracts. This method is designed to prevent unexpected issues from affecting the functioning of our platform. The upgrade permissions of our contracts are safeguarded by a timelock, which is controlled by a 3/5 multi-signature held by Equilibria’s core contributors, as well as members of Incuba Alpha Capital, GBV Capital, and Pendle Finance. Every upgrade undergoes extensive testing, auditing, and verification by the multi-signature signers. Once the upgrade is deemed secure, a 24-hour timelock is initiated. We’ve adopted this approach based on lessons learned from the crypto space, where unfortunate mistakes have led to serious consequences for projects. Our strategy ensures that upgrades are carefully considered and implemented.
We have undergone rigorous auditing by Peckshield and WatchPug:
SECTION 5: Data and Reporting
Provide details on how your team is equipped to provide data and reporting on grant distribution.
Is your team prepared to create Dune Dashboards for your incentive program?:
Yes, we already have one DUNE Dashboard. Please check it here. We will continue to optimize these analytical dashboards to provide more information as required by Arbitrum or follow any suggestions from the community members.
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread?
Yes, we are currently publishing our platform performance data and updates every week to communities. Our team is ready to create reports and updates as required by Arbitrum.
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
