[Guru Network] [FINAL] [STIP - Round 1]


Applicant Name:

Sam, a.k.a. 543.

Project Name:

Guru Network’s E3 DEX

Project Description:

Guru Network is essentially a Crypto-native “Services” org, that focuses on fullifulling its 3-point manifesto of 1.) Help, 2.) Decentralize Finance & 3.) Grow.
For one, it helps co-build & tailor a really wide band of solutions for other DAOs & devs alike. Secondly, it builds its own suite of Public goods as well as products of commerce (such as E3). And finally, as an autonomous group, it rechannels its revenues into oiling its own macinery to amplify its own produce.

This proposal is chiefly talks about EⅢ (a.k.a. E3), which is a Decentralized Exchange inspired by it’s uncle, Trader Joe. E3 is a Concentrated Liquidity engine, and has been ranked as one of the most Capital Efficient protocol in the whole of DeFi by DefiLlama on over 25 days.

Team Members and Qualifications:

  • Welshy (Carry)
    Oversees BizDev and B2B relations.

  • Claude (Support)
    Looks after the project as a whole, including B2C.

  • Sam (Nuker)
    Strategy & Infra.

Project Links:

Contact Information:

Acknowledgement that Team will be Subject to a KYC:



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:

1337oo ARB

Grant Matching:

The Trade-fees generated will complement our efforts towards reaching our goals with this Grant.

Grant Breakdown:

Deliverable ARB Amount Net ARB Per Cent
In-Range Liquidity Incentives 1337 ARB/day 133700 100%

Funding Address:


Funding Address Characteristics:

3 of 4 Multi-signature Gnosis Vault.

Contract Address:

All incentives will be directed towards our Liquidity Providers. Rewards will be airdropped to beneficiaries on a rolling basis via fresh contracts via Merkle tree claims or via other means such as bribes or staking/farming for F*tokens (wrapped EⅢ LPs).

Currently Eligible Pool Contracts on Arb1:

  • 0xDe5f1668cb5Ef56DfB9211694d00252D858082e3
  • 0x576b3179e58de0c91cb15aeaadeb4ecfee3620af



E3 has a laser focus on top-performing markets exclusively. It’s goal is to maximize the Asset Exchange in select key pairs, mainly ETH/USD & Native-Token/USD variants.

Key Performance Indicators (KPIs):

  • Weekly Trade Volumes
    A good indicator of healthy activity. More is better generally, as each $1 of volume during volatile periods is more desired than the same volume during stable trends.

  • Weekly Trade Fees
    Absolute indicator of results. More fees directly represents a more successful E3.

How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?

E3 is the smallest project in this Grants Round 1. Yet, it is extremely more Capital Efficient than other DEXes on Arbitrum more often than not. Our other partners sometimes omit out our data due to our small size. Currently, we do not have a token, and most of the TVL is self-funded by Guru Network’s Treasury via direct seeds & regular giveaways. This Grant would let us provision more liquidity which we believe will propel our numbers to a common denominator with our peers. And then, our Numerator will speak for itself.

With the novel blend of Composability & Modularity with our “Bucket” model, we envision a future where DAOs and power users who are fanatics of Extreme Capital Efficiency will build on top of E3. That aside, Guru Network itself has multiple novel innovations such as the Fertilizer ALM.

Justification for the size of the grant:

We did roughly $70,000 to $150,000 volume each day on average over the last 30 days, without any added incentive. With 1337 ARB, worth ~$1000, we can procure a Liquidity Depth that can produce a Volume [upwards] of $1 Million per day, assuming a modest 0.1% Yield per day, i.e. a 36.5% “APR”, to our Liquidity Providers.

As always, we put up the conservative estimates first. But if we extrapolate our current metrics based on rates across the industry, we can easily see days with over $2 Million, even $10 Million in ETH/USD volumes per day on E3, with this 1337 ARB/day. But for the record, we would like to set the bar at $1 Million per day.

As the smallest project on this Round, our Ask is also the smallest in this Round, and is in direct proportion to our Size and aspirations, which we believe will Scale inline with Arbitrum’s Worldwide adoption. We are here for the long haul, and see this Round as an opportunity to onboard early birds to our EⅢ nest, flying together in this incessant Odyssey.

Execution Strategy:

Guru Network has been a staunch supporter of Open-source wares and prides itself in contributing to and utilizing the same for its day-to-day needs. We will employ Dune, DefiLlama and pusblish Merkles on Github for 100% transparency.

The incentivized pools are subject to market conditions but will primarily focus on the broad market assets that are ETH & USD vehicles (Stablecoins).

Grant Timeline:

100 days, nearing completion on the 31st of coming January 2024.

Accept that the funding of our grant be streamed linearly for the duration of our grant proposal, and that the multisig holds the power to halt our stream:



Is the Protocol Native to Arbitrum?

EⅢ has no external dependencies from any other Chain. E3 does not have a token, nor is it cross-chain. Arbitrum has been, and currently is E3’s main chain.

On what other networks is the protocol deployed?

EⅢ runs on Fantom & Base besides Arbitrum. All deployments are independent of each other and do not influence the operations of other chains or versions.

What date did you deploy on Arbitrum?

June 2023 (v17)

Protocol Performance:

  • Ranked #1 AMM DEX by Capital Efficiency on DefiLlama over 25 times.
  • Top 15 DEX on Arbitrum by Fees and Top 20 by Volume.
  • One of the highest Fees/TVL ratio in DeFi.

Protocol Roadmap:

  • Fertilizer - Automated Liquidity Management
  • F*token staking & farming
  • Lending against F*tokens

Audit History:

While E3 is has a slightly modified core and usage, it still inherits its structure and codebase from it’s uncle Joe. All audits to TraderJoe v2.1 apply to E3 v17.
(v17 is the current and stable version of E3, and has been in use for over 6 months)

SECTION 5: Data and Reporting

In 2021, Guru Network ventured into the arena of Data Analytics to fulfil the Point 1 of our manifesto — 1.) Help. — to enable our community on Fantom to visualize fantom’s blockchain activity & substitute its explorer for a week during its downtime. Ever since, Guru Network has served well over 50 clients with bespoke data analytics and visualization apps, ranging from DeFi to e-Commerce, on-chain activity heatmaps & Real-time target tracking to Artistic Data Viz atop fNFTs.

Is your team prepared to create Dune Dashboards for your incentive program?

Yes. Guru Network team is one of the oldest “wizards” on Dune.

Team agrees to provide bi-weekly program updates on the Arbitrum Forum thread:

Yes, we agree to provide updates each fortnight. We will cite On-chain datapoints and reference our verifiable Dunes.

Team acknowledges that failure to comply with any of the above requests can result in the halting of the program’s funding stream:


We request community feedback in the comments section along with suggestions around improvement of this draft, concerning any and all aspects of this proposal.



Sam is one of the real h4x0rs on here building stuff and supporting a ton of projects behind the scenes. Their fixation on 1337 can be forgiven. Me gusta.


Hello @543 thank you for your application! Please provide the addresses of the contracts you plan to incentivize. If these are subject to change then you can update them during your bi-weekly updates

1 Like

can be a good test for see how efficent grant are for smaller vs big project.

full support for the proposal


543 and the Guru Network have my full support, honestly because this guy is quite possibly the most prolific shipper I’ve ever seen in the space-- hands down. This guy’s github commit logs make you wonder how he has the time to go make himself food. Seriously, it’s insane-- and to top it off, 543 is one of the nicest dudes around.

E3 is a really cool take on concentrated liquidity, and I’m happy to see 543 get a fighting chance with this grant to support healthy liquidity provisioning that benefits users and their platform’s ability.


Sam is one of the best dev we’ve ever worked with. His works contributed greatly to the space.
Even though Firebird hasn’t added E3 yet but it’s something we’re working on since its efficiency is proven . Looking forward to the growth of Guru on Arbitrum.
All 1337 support for the proposal!


Thanks @Matt_StableLab, made the requested corrections : )

1 Like

Thank you for making these changes! Your submission now meets all requirements to be considered for a snapshot vote.


While I don’t know all the intricacies of Guru Network, I have been following along for a length of time that co-incides with Fantom’s Opera chain launching. Certainly long enough that I, albeit late to the proposal, I can provide some honest attestation to the subject matter and i like what they got going on.


Hello @543 ,

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.


@543 Friendly reminder to complete the following:


Hey @stonecoldpat @cliffton.eth @eli_defi , this proposal is final from our side!


Post has been marked FINAL and locked.


Our proposal has moved into Snapshot Voting phase. If you like what we are building, do support us. If you think we could do better than this, we would greatly appreciate your feedback (being a little project with over 50 mini-dapps, we immensely value our reviewer’s word!) and work on your advices, implementing all your suggestions to the best of our capabilites for the Odyssey ahead : )

We thank the Arbitrum DAO for giving us a platform and commend it for making this initiative so inclusive and transparent. This is what an ideal blockchain’s decentralized & autonomous governance should be and other chains should definitely take a lesson! Congratulations to everyone who is a part of this community, not all "DAO"s can pull it off like this!

1 Like

We received valuable feedback from a lot of our voters, which we are really grateful to them for. Based on their inquiries, we would like to clarify a few things about our proposal:

  1. This proposal is for E3 (“EⅢ”), which is our very own CL DEX.
    The grant, if we receive it, will be solely dedicated to E3 only. It will not be used for any other product or service operated by Guru Network. We run a lot of small dapps, but this STIP is directed only at EⅢ exclusively.

  2. Incentivizing new Pairs?
    We have only 2 pairs on Arbitrum, both of which are ETH/USDC pairs. One uses the L2-bridged USDC (also known as “USDC.e”) and the other uses the Native, Circle-issued USDC token. Besides these 2, if we do introduce more pairs, will be introducing 2 more pools: ARB/ETH and ARB/USDC. Pools containing only these 3 tokens (ARB, ETH & USDC) will be incentivized using the Grant proceeds.

  3. Incentives for Pool2?
    E3 dex does not have a token. And we have no plans on launching a token for E3 in the near future. No part of STIP funds will be used to incentivize our own token’s liquidity.
    Guru Network operates popular L2 protocols such “El Ramses” and “El Chronos” on Arbitrum network. None of these will receive any incentives stemming from this proposal.

  4. Rewards for Fertilizer?
    Fertilizer and its “🇫” tokens is our pre-beta A.L.M. (Automated Liquidity Management) protocol. It is a layer2 built directly on top of our E3 pools, by us. F* tokens are ERC20 receipts for our ERC1155 Liquidity Positions, and are thus a direct form our our E3 TVL. Incentives from this protocol will be used as Rewards for F* staking. This is still limited to the E3 pools on Arbitrum networke exclusively, and containing only ETH, ARB & USDC in a pool, as mentioned above.

  5. What if 1337 ARB/day is exceeded, or if it falls short?
    The 1337 ARB per Day is the upper Limit of incentives that we will spend. This 1337 includes all the total rewards distributed in any format such as our Merkle Airdrops or rewards on the Fertilizer Farmlands. Last date of any such incentives distributed from our side will be the 31st of January, 2024. Any Surplus that arises during this period will not be used to compensate Deficits from a different day. Any and all unspent ARB tokens will be delivered back to Arbitrum DAO on a weekly basis.

We hope that the above explanantion produces a better interpretation.
Please feel free to ask any questions or doubts here itself.
Thanks again! :pray:

great proposal here :ok_hand: :ok_hand: :ok_hand:

1 Like

Michigan Blockchain supports this proposal with the requested amount being justified given the sustainable benefits to the Arbitrum ecosystem and having conducted an in-depth reviewal process of all submitted STIP proposals. We appreciate Guru Network’s effort in delivering a promising proposal and working with the community throughout the process.

We appreciate the clarity and thoroughness of the Guru Network’s E3 DEX proposal. As indicated in the grant breakdown, the requested grant amount is significantly high. However, we have reservations about the size of the grant and the extensive details provided in the proposal.

On behalf of ITU Blockchain, we express our ‘Against’ vote for this proposal.