Despite the fact that I am affiliated with Good Entry, I think that GE has to receive the grant because:
The protocol is unique and innovative
With GE any other project on Arbitrum can have a perp market
Idle liquidity that is not utilized by the traders is stored in Uniswap, therefore deepening the on-chain liquidity for the listed tokens (at the moment these are ETH, BTC, ARB, GMX)
Protocol has completed 3 audits
Protocol does not have VC funding
There is no native token (yet)
Grant is to be used to attract liquidity providers and not for protocol/team expenses
GE has a really strong community. If someone thinks that this forum was botted or smth, you can always check Discord
When there was a bug in the contract that led to the loss of funds, the team fully refunded all affected users with their own funds.
If you are not familiar with the project, please feel free to refer to this thread
Your funding address does not appear to be a multisig according to Arbiscan. Funding addresses must be a multisig per the following program stipulation.
I’m Ou, founder of Ouroboros Capital. I’m writing to express our strong support for Good Entry in their application for this grant. The rise in popularity of Arbitrum can be attributed to innovative DeFi primitives like GMX. In a similar fashion, we believe that Good Entry has the potential to mark its own groundbreaking pathway.
Their concept of wrapping Uni v3 LP positions into non-liquidation perpetuals is not only novel but is also in its nascent stage, showing immense promise for future developments. We have full confidence that the grant, if awarded, will be utilized effectively and strategically by Good Entry.
I have only been using Good Entry for about a month, and so far it’s been a positive experience. As a DeFi novice I’ve found the platform simple, fairly intuitive and easy to use. I’ve not personally encountered any significantly consequential errors, and any small errors I did were corrected. I’ve only used the LP vaults, but even testing their upgrade was easy and seamless.
I’m not much of a trader, and while the idea of a perpetual trading platform in and of itself may not be revolutionary, I think the unique features Good Entry provides such as protected perpetuals, and the way it handles liquidly brings unique value and potential to the table. Value that this grant could help grow not only for Good Entry, but for the Arbitrum network as a whole. Trading being one of the core uses in crypto, I think it’s a great fit for the Arbitrum ecosystem, especially with the low network fees and ease of use for those new to DeFi like myself. Further synergizing with Good Entry’s product being geared towards shorter time-frame, high frequency trading. For those like me being more interested in being a LP, even something as simple as having the option and convenience of single sided liquidity is a huge plus.
The team may be small, have a lot on their plate, and the community may be enthusiastic at times, but I’ve personally seen the good will of both, and always been heard and respected. The community and team look out for each other, take responsibility, and are trying to build a long-term valuable and sustainable platform. The team eating the loss from the bug in one of the vaults that has since been fixed is a testament to that. Everyone came together and acted quickly to fix the issue and recover as much as possible.
Furthermore the fact that this projects has had no VC investment is a big plus in my eyes. Again, this is a small team, with a grassroots project and community that doesn’t have the corporate baggage and possible conflicts of interest that come with having VC. The Arbitrum Foundation considering Good Entry for the grant proposed is also welcoming, and showing support for small, independent developers and projects, as well as the grassroots user base they form. Something that I think is central part of the crypto ethos as a whole.
Great project! Great community. The protocol is very innovative. Protocol is on Arbitrum, the house of innovative Defi. Protocol deserve a grant to continum to growth
Good Entry emerging as the next narrative with its unique products. Recommend to watch closely the evolution as this will be the next big thing in Crypto soon!
By leveraging the combination of Uniswap V3 LP ranges and Aave’s lending market, Good Entry Labs has created protected perpetuals that allows users to take long/short positions while eliminating the risk of price-based liquidations.
As leverage has been an extremely popular strategy for many retail players in the crypto space, liquidations have equivalently been a very common calamity for such persons, with hundreds of millions of dollars being liquidated every year. As such, Good Entry Labs has created a one-of-a-kind solution that addresses this issue of liquidations, that is very much needed in the space.
Now that your application has been marked eligible, please be advised of the remaining steps in the application process to be completed prior to the Review Period Deadline:
Please complete the following steps required for your application to proceed to Snapshot:
To change your proposal to final, please tag an Arbitrum Foundation Forum Moderator (@ stonecoldpat @ cliffton.eth @ eli_defi) by the Review Period deadline to notify them of your proposal’s readiness to proceed from [Draft] to [Final] status.
Once notified, the Arbitrum Foundation Forum Moderator will adjust your title from [Draft] to [Final] status. Once marked as [FInal], your application post will be locked by moderators and you will no longer be able to edit your proposal.
Firstly, thank you for your innovative proposal and for choosing to develop on the Arbitrum ecosystem.
Introduction and Rationale
Good Entry is seeking a 200k ARB grant to boost APY on its EzVaults with the aim of increasing its TVL from $1 million to $10 million. This grant constitutes 0.4% of the total 50M ARB available in the program. Since its deployment in March 2023, Good Entry has introduced a unique offering of “protected perpetuals,” enabling safer perp trading experiences. Despite a relatively short track record, the protocol has demonstrated resilience by successfully bootstrapping its products and TVL in a bear market. We appreciate the forward-thinking nature of offering protected perps and believe that your proposal could be effective in bolstering both Good Entry and the broader Arbitrum ecosystem.
Major Concerns
Concern Regarding Ecosystem Benefit
Uncertainty exists about the direct benefits to the overall ARB ecosystem as it focuses primarily on establishing a new trading primitive
Our recommendation for change: To align more closely with Arbitrum’s objectives, consider introducing more trading pairs that are native to the Arbitrum ecosystem.
Minor Concerns
The relatively short track record of the protocol
No evidence presented on how a tenfold increase in TVL will sustainably benefit the broader Arbitrum ecosystem
Our recommendation for change: Provide additional data or strategic insights that demonstrate the long-term advantages of achieving a $10 million TVL.
Summary
Castle Capital values the innovative strides made by Good Entry, especially your focus on offering “protected perps,” a potentially game-changing DeFi primitive. We support the proposal but suggest a more comprehensive framework that aligns with Arbitrum’s broader objectives, such as introducing more Arbitrum-native trading pairs.
Your fresh approach to perpetual trading could set a precedent in the field and we are eager to see how your protocol will evolve. We hope our suggestions are helpful and contribute to the proposal’s success for the betterment of the Arbitrum ecosystem.
This is a very reasonable amount that can have outsized impact on the growth and utility of Arbitrum.
Good entry is a small and nimble startup, and I think ths could be the best spend of grants. Protected Perpetuals are rare and it is great to see this on arbitrum, giving some advantages to traders who are seeing arbitrum as a great chain to trade.
Strongly support his, and hope good entry maximise this opportunity to grow bigger in arbitrum.
We appreciate your feedback and have incorporated in our STIP with more prominence that one of the main ways we continue to improve on Arbitrum is to promote more trading pairs native to Arbitrum and those beyond. If we see Arbitrum as the hub of DeFi then we should be doing our best to be an open project receptive to all partners.
We also shared more of our plans to improve on our product with deeper integrations with Camelot to further the Arbitrum cause