Gains Network Bi-Weekly Update [01-07-2024]

Note that Gains Network claimed its first disbursement on June 26th, while the system for trading incentives was started on June 28th. LP incentives for GNS and gTokens started on different dates per pool, from June 28th onwards.

Since this report is being submitted on July 1st, few $ARB tokens have been distributed so far, resulting in limited data on the impact of $ARB incentives. Therefore, this first bi-weekly report will primarily be qualitative, providing context on current plans and progress.

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 375,000 ARB

ARB Utilized as Incentives in the Last Two Weeks (ie. last few days): 37,500

Summary of incentives:

Gains Network’s STIP.B grant will be utilized for 3 main initiatives:

  • Trading Incentives
  • LP Incentives
  • GCGP
    • A Grants program serving as an extension of the STIP.B to incentivize projects to build with Gains Network

Contracts to be incentivized over the coming 2 weeks: [Insert all contract addresses incentivizes]

Trading Incentives

  • gTrade Trading Incentives:
    • To be included in next bi-weekly report; details for distribution flow being finalized

LP Incentives

  • gUSDC / USDC on Ramses
  • gUSDC / USDC on Timeswap
    • This is Timeswap’s multi-sig that handles the distribution on Gains Network’s behalf*
  • gUSDC incentives on Copra
    • This is Copra’s multi-sig that handles the distribution on Gains Network’s behalf*

*Note that Gains Network confirmed with the program manager whether it’s allowed to distribute incentives through partners’ multi-sig (who are LTIPP/STIP.B grant recipients too)

GCGP Contracts

None so far.

Contract address label Form 48 completed for all addresses: Not yet. Reached out to OpenBlocks.

ARB left over: 337,500

Plan for leftover ARB:

  • Trading Incentives [total budget = 163.64K per epoch]

For epochs (weeks) 1 and 2, the plan is to maintain the following breakdown for trading incentive categories:

Fee Rebates: 85%

Absolute PnL: 10%

Loyalty: 5%

Epoch 1 has started and traders are eligible to claim their ARB by the end of each period based on their activity:

  • LP Incentives [total budget = 30.68k per week]

For weeks 1 and 2, above-mentioned contracts will continue to be incentivized. So far, the weekly amounts of ARB being distributed amount to less than the total budget. This is on purpose:

As highlighted in the Addendum, Gains Network will utilize a large part of its LP incentives budget to bootstrap more (sticky) liquidity for the gUSDC vault as it’s anticipating more USDC-collateral usage over the coming months. Initially, the focus will be on building liquidity on third-party DEXs for gUSDC/USDC pools. This strategy aims to unlock various partnership opportunities, creating an ecosystem around gUSDC through lending markets, LP-strategy protocols, and more.

Once the necessary requirements for these DEX pools are met and gUSDC price feeds are established, there will be potential for new partnerships. These new pools and contracts will be incentivized using the current surplus. Any new partnerships and corresponding incentives will be detailed in future bi-weekly reports.

  • GCGP Program [total budget = 112.5k for the entire program]

As mentioned in the Addendum, Gains Network is also organizing a “Gains Community Grants Program (GCGP)” using 5% of its STIP.B budget to incentivize projects and builders to build on top gTrade contracts.

This is a first step to Gains Network transitioning into a DAO where GNS voters will decide how the ARB budget for the GCGP should be allocated. A committee of selected Gains Network team members, community members and contributors was formed to provide applicants with constructive feedback, ensuring their proposals align with STIP guidelines and GCGP rules. Engagements with applicants are public and can be found in this Discord channel:

To prevent “double-funding” of projects who are also grant recipients in the STIP or LTIPP, these were encouraged not to apply for the GCGP.

In total, 10 proposals were submitted of which 9 have been posted on Snapshot. An overview of all the applicants and their proposals can be found HERE. This document also serves as a summary to the Arbitrum DAO, explaining why proposals have (not) been considered valid to be posted on Snapshot. Voting has started on June 30th and runs until July 8th, 23:50 UTC.

Once elected, grantees will receive up to 20k ARB in tranches based on their proposed milestones. The Gains Network team will monitor their progress and distribute funds accordingly, while committing to reporting on the GCGP in these bi-weekly reports. Moreover, GCGP grantees are required to report on their progress and performance on the Gains Network Forum in this section.

Additional Info / Disclosures to Multisig: Nothing to disclose


Average daily TVL: To be included in the next bi-weekly report

Average daily transactions: To be included in the next bi-weekly report

Average daily volumes: To be included in the next bi-weekly report

Number of unique user addresses: To be included in the next bi-weekly report

Transaction fees: To be included in the next bi-weekly report

Link to Dashboard showing metrics: To be included in the next bi-weekly report

Plan For the Next Two Weeks

Amount of ARB to be distributed:

Trading incentives (Epoch 1 and 2)

  • 327,272.73 ARB in total

LP incentives (Week 1)

  • 22,964 ARB in total, to be distributed as follows:

6,666.66 $ARB for GNS / ETH on Camelot

2,000 $ARB for Penpie gDAI bribes

12,000 $ARB Ramses CL pool — gUSDC / USDC

1,000 $ARB Copra borrowing pool — gUSDC

1,800 $ARB for a Timeswap gUSDC lending market.

LP incentives (Week 2):

  • Depending on the trajectory of currently incentivized pools, the amount of ARB to be distributed among these might change. Moreover, additional pools might be added to expand the Gains Network ecosystem with new integrations to be incentivized.

Contracts that will be incentivized: See above

Contract address label Form 48 completed for all addresses: Not yet. Reached out to OpenBlock.

Mechanism for distribution incentives:

  • Gains Network distributes ARB incentives for trading through a custom contract labelled above.
    • Rewards are streamed weekly
  • LP Incentives are distributed once every week in the above labelled contracts after which it’s handled by those contracts throughout the week.

Summary of incentives plan

  • Trading incentives
  • LP incentives for gTokens and GNS
  • Budgeting for the GCGP Program

Summary of changes to the original plan: N/A

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