SECTION 1: APPLICANT INFORMATION
Applicant Name: Interport Team
Project Name: Interport Finance DAO
Project Description:
Interport Finance is cross-chain decentralized exchange and a bridge, which allows seamless transactions between networks. With a robust lifetime volume of $140 millions through Arbitrum Network, and $300 million volume overall, Interport is committed to fostering accessibility and liquidity within the DeFi sector, helping to solve interchain liquidity problems.
Provided services
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Cross-chain Swaps - We empower traders with fast cross-chain swaps at the best rates. Interport allows you to trade assets on different networks within 1 transaction.
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Bridge - Interport Finance offers a bridge feature in conjunction with cross-chain swaps. The bridge allows for the movement of supported assets between 11 networks.
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Stablecoin Pools Farming - To ensure efficient and fast transactions across chains, Interport implements its own stables coin liquidity pools to be used for the swaps.
Team Members and Qualifications:
InterportDAO Core Contributor(s)
Founder and strategic manager: whereto - https://twitter.com/0xTwisted
Founder and operating manager: DSB - https://twitter.com/whoisdsb
InterportDAO Team consists of 20+ developers and team members.
Project Links:
Twitter: https://twitter.com/InterportFi
Discord: https://discord.gg/interport
Github: https://github.com/Interport-Finance
Medium: https://interport.medium.com/
Docs: https://docs.interport.fi/
DeFiLama: https://defillama.com/protocol/interport-finance
DappRadar: https://dappradar.com/dapp/interport-finance/
Explorer: https://explorer.interport.fi/
Contact Information:
Twitter: https://twitter.com/0xTwisted
Telegram: @whereto_pawl
Email: interportfi@gmail.com
Do You Acknowledge That Your Team Will Be Subject to a KYC Requirement?: Yes
SECTION 2: GRANT INFORMATION
Requested Grant Size: 500,000 ARB Tokens
Grant Breakdown:
With the facilitation of $140 million volumes during the past 4 months on the Arbitrum Network and a user base of 24,055 wallets conducting 66,442 transactions, Interport seeks to use the grant to enhance its performance and incentives additional liquidity on Arbitrum network.
250K ARB will be distributed among users during the 10 months campaign, to compensate for gas fees and encourage users to explore the Arbitrum ecosystem.
250K ARB will be used as incentives to Arbitrum’s stable coin liquidity pool, which would allow for scaling up the trading and bridging volumes to Arbitrum and more capital locked on Arbitrum network.
Currently there is $35 million average monthly trading volume via Interport with Arbitrum network. This includes bridging, cross-chain transactions and cross-chain arbitrage.
While the average TVL of a stable coin pool is only $1 million.
Therefore, increasing the TVL of stable coin pool on Arbitrum by $2 million dollars along with gas fees compensation and campaign incentivisation is expected to bootstrap the volumes.
With rough estimation, the grant of 500K ARB tokens will result in $2,2 billion trading and bridging volumes during the next 10-12 months.
Detailed breakdown and allocation of funds will be transparently shared and any unused funds will be returned to Arbitrum DAO treasury “0xf3fc178157fb3c87548baa86f9d24ba38e649b58”.
Funding Address:
Interport Finance Multisig:
0x90255A7D39A805258874021c8117568fAf67C766
Funding Address Characteristics:
The address above is for a 3/4 gnosis safe. Each private key is held by a different member of the Interport finance team, and has not been shared anywhere. The wallet will only be used for managing grants from Arbitrum.
Contract Address:
Upon approval of the grant, funds will be channeled through a dedicated smart contract designed to ensure streamlined and secure fee rebates to users. The address of this deployed contract will be made public following grant approval through the appropriate channels.
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Objectives:
- Foster increased liquidity bridging into Arbitrum.
- Minimize fee barriers for new users exploring Arbitrum through Interport.
- Attract more stable coin liquidity to enhance bridge and cross-chain arbitrage volumes.
- Support and collaborate with other grant recipients to contribute to Arbitrum’s success.
- Facilitate effortless participation in the Arbitrum ecosystem for all users.
Key Performance Indicators (KPIs):
- Tracking the number of unique wallets receiving compensation making transactions into Arbitrum.
- Monitoring the influx of new wallets engaging with Arbitrum via Interport.
- Analyzing and tracking volumes into the Arbitrum network via Interport.
- Observing growth of a stable pool TVL at Interport on Arbitrum.
Execution Strategy:
50% of the grant will be utilized for fee rebates for users bridging into Arbitrum, encouraging participation and investment in the Arbitrum ecosystem.
This will be done through the campaign model that Interport will launch. The campaign will track all cross chain transactions to the Arbitrum network by users and distribute 25K ARB tokens every month (over 10 months) to everyone in the percentage of wallet generated volume over total volume.
Another 50% of the grant will be used as incentives to stable pool liquidity providers.
Interport uses its own stable coin pools to route cross chain transactions.
Incentives will allow us to create a stable coin pool on Arbitrum and hence increase the trading volumes due to deeper liquidity on the Arbitrum chain.
250K ARB tokens will be distributed as incentives for 12 months and expected to attract around 2,5 million USDT/USDC into stable pools at roughly 10% APR for users.
That would potentially lead to significant increase in volumes. And enable way more liquidity for people to use for cross chain transactions and bridging capital.
Grant Timeline:
The grant will begin its distribution among users and liquidity providers once available.
Gas fees compensation and incentives campaign will last 10 months.
The liquidity incentivization program will last for 12 months.
SECTION 4: PROTOCOL DETAILS
Is the Protocol Native to Arbitrum?
Interport is a cross-chain DEX and bridge that is live on 11 networks, including Arbitrum One.
On what other networks is the protocol deployed?
Interport is live on:
- Ethereum
- Arbitrum
- Binance Smart Chain
- Polygon
- Avalanche
- zkSync Era
- Polygon zkEVM
- Base
- Optimism
- Linea
- Fantom
What date did you deploy on Arbitrum?:
Contract deployment - Mar-15-2023
Test mode launch - April 2023
Official launch - June 2023
Protocol Performance:
- Interport Finance is cross-chain decentralized exchange and a bridge that is live on 11 EVM chains.
- Interport is integrated with Layerzero cross-chain message provider and Circle Cross-Chain Transfer Protocol for fast and permissionless cross-chain messaging between different chains.
- Interport is integrated with 1inch, 0x, Openocean, Kyberswap, Paraswap, OKX dex aggregators for the best cross-chain swap price execution.
We have partners in various fields like Circle, Layerzero Labs, Kyberswap, Openocean, OKX, Paraswap, Syncswap, Intract and others.
Arbitrum
- Lifetime volume of $140,471,535 through Arbitrum Network.
- Total of 24,055 users and 66,442 transactions facilitated.
All networks
- Total TVL in stablecoin pools $4.5 million.
- Lifetime volume of $299,573,582.
- Total of 95,700 users and 176,500 transactions facilitated.
More protocol stats:
https://explorer.interport.fi/analytics
Protocol Roadmap:
Interport aims to solve the interchain liquidity problem by building a sustainable cross-chain infrastructure.
You can check our milestones ahead:
https://docs.interport.fi/roadmap
Audit History:
Audit by Hacken - https://hacken.io/audits/interport/
SECTION 5: DATA AND REPORTING
Is your team prepared to create Dune Dashboards for your incentive program?:
Yes
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread?
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?
Acknowledged.