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: Dimitrios Kavvathas
Project Name: Ithaca Protocol
Project Description:
Ithaca is a Non-Custodial, Composable Option Protocol.
Ithaca is the first protocol across any chain that allows complete, composable option, structured product and lending markets on any underlying. Through innovations in financial engineering, Ithaca markets benefit from âself-enhancing liquidityâ, meaning that they get more âbang for their liquidity buckâ relative to traditional continuous limit order book markets.
The Ithaca Ecosystem will encompass:
- An Option Trading Protocol
- An Algorithmic Market Maker
- A Collateral Optimization Engine
- Cross-chain interoperability powered by Axelar
- A market-clearing consistent margin lending & liquidation mechanism
- Decentralized Protocol Governance.
Team Members and Roles:
- Dimitrios Kavvathas - Founder / Director
- David - COO
- Minas - CQO
- Artur - CTO
- Marcos - CSO
- Sotiris - CBO
- Aaron - CISO
- Cezary - Senior Backend Developer
- Laurent - Head of Trading
- Anthony - Head of Quants
- Emily - Trading
- Mayank - Trading
- Julian - Quant
- Damian - Front End Developer
- Saman - Backend Developer
- Suraj - DevOps
- Olaf - Trading Infrastructure Advisor
Project Links:
- Landing Page - https://ithacaprotocol.io/
- Ithaca App - https://app.ithacaprotocol.io/
- Twitter - https://twitter.com/IthacaProtocol
- Discord - https://discord.gg/Ithaca
- Telegram - https://t.me/+E7KmlGwmxmtkOWU1
- Farcaster - https://warpcast.com/ithacaprotocol
- Docs - https://ithaca.gitbook.io/docs/
Contact Information
Point of Contact: @Dimitrios160174
Point of Contactâs TG handle: @DK74aiaa
Twitter: @Dimitrios160174
Email: dimitrios.kavvathas@ithacanoemon.tech
Do you acknowledge that your team will be subject to a KYC requirement?: YES
SECTION 2a: Team and Product Information
Provide details on your teamâs past and current experience. Any details relating to past projects, recent achievements and any past experience utilizing incentives. Additionally, please provide further details on the state of your product, audience segments, and how you expect incentives to impact the productâs long-term growth and sustainability.
Team experience (Any relevant experience that may be useful in evaluating ability to ship, or execution with grant incentives. Please provide references knowledgeable about past work, where relevant. If you wish to do so privately, indicate that. [Optional, but recommended]):
The team behind Ithaca led by Dimitrios Kavvathas (previously Chief Strategy Officer at Amber Group, CIO at Harmony Advisors, and Partner at Goldman Sachs), combines more than 120 years of experience in finance and crypto across firms such as Goldman Sachs, BAML, Deutsche Bank, BNP, BlueCrest as well as the Portuguese Debt Management Office.
As for incentive designs, Dimitrios has a Phd in Economics from the University of Chicago and recently co-wrote the paper âEquilibria and Incentives for Illiquid Auction Marketsâ which is directly related to Ithaca. Meanwhile, Marcos has a masters in Economics from Harvard, where he worked on program incentives and impact evaluation in a development context, having since served on a number of non-profit grant-making boards.
The team also founded various startups:
Dimitrios co-founder of:
- Harmony Advisors is a leading multi-family office based in Hong Kong and Switzerland with deep asset management expertise and global investment perspective
- Thea provides sustainability As-A-Service, democratizing access to the voluntary carbon market.
- Nomisma - regulated digital asset derivatives
Artur co-founder of:
- Utrust, launched in 2017 and later evolving into xMoney in 2022 after its acquisition by Elrond, established itself as a notable entity in the cryptocurrency payment industry, recognized for its secure and regulated transactions operating under Banco de Portugalâs regulation.
- Exclusible, founded in 2021, quickly established a significant presence in the luxury NFT marketplace, achieving an impressive $10M in sales during its first year by curating exclusive digital collectibles for a luxury-focused audience.
Sotiris co-founder of:-
- The Cypherverse, specializing in world-building, web3 gaming, and innovative NFT offerings.
- DeskX, a luxury design brand specializing in home and office products.
Marcos âDappPunkâ Siqueira founder of:
- BetterHaves, a budgeting app for couples.
- Area, a geolocation NFT ecosystem.
- Light.art, a Photography NFT platform.
- He is also founder of the Nomura Foundation (Asia) and a member of the board of the MeLlamoArt Foundation.
We would be delighted to discuss team background in more detail or provide references privately.
What novelty or innovation does your product bring to Arbitrum?
Ithacaâs innovations are significant not only in Arbitrum, but across DeFi and TradFi too.
The Ithaca Protocol is underpinned by a matching engine that decomposes and recomposes financial products using their fundamental risk building blocks. Orders, including conditional orders on structured products, are matched by the engine at their atomic level. This means the engine can âfind liquidityâ across different products as long as they share risk characteristics. It does that by using replication, portfolio dominance, and collateral optimization principles.
The engineâs design shortcuts liquidity bootstrapping, which should shorten the time to reach institutional-level scale in on-chain options markets. Currently, option markets are hampered by low liquidity and fragmentation across blockchains. Meanwhile, no true innovation is happening in risk-sharing mechanics across the crypto ecosystem. Ithaca not only brings that much needed innovation to crypto in general, but it does specifically within the Arbitrum ecosystem.
Key Innovations:
- Decomposition of Option Payoffs: Simplifies complex option trades into basic elements, rendering trading and risk management more transparent and enhancing liquidity.
- Atomic Matching and Conditional Orders: Supports dynamic trading strategies with atomic trades and conditional intent based logic, offering a significant improvement over traditional trading systems.
- Efficiency and Risk Management: Utilizes replication, portfolio dominance, and collateral optimization to use capital more efficiently and improve risk management, reducing further capital requirements and boosting liquidity, while maintaining trustlessness.
- Cross Chain Liquidity Aggregation & Interoperability: Designed to pool liquidity from various blockchains, addressing liquidity fragmentation and expediting the growth of on-chain options markets by using Axelar to bridge assets from supported blockchains directly onto Arbitrum.
- Composable Risk Primitives: Facilitates swift market setup for diverse products on any asset, rendering option markets more versatile and robust.
Our long-term goal is to leverage our innovative tech stack to ensure Arbitrum becomes the home of DeFi Options trading. We will aggressively continue to grow & refine our product on Arbitrum to capture new users, migrate Options market makers on-chain, grow DeFi Option volumes, increase TVL, and meaningfully contribute to Arbitrumâs sequencer revenue.
Let us imagine the possibilities.
The Crypto Option Market can easily grow by 10-50x. This would bring crypto options at par with equity derivatives for example. Within that universe DeFi can easily capture a much bigger percentage of volumes than what is happening now. The examples of both spot DEXs but also perp DEXs, are instructive, inspirational and imminently achievable.
Ithaca can help Arbitrum capture a significant portion of a market that can easily grow 100-500x ( 10-50x as per above, 10x defi as Proportion of CeFi ), even with crypto outright not necessarily increasing in value, just with market maturity but also a platform that allows all the instruments and functionalities that empower users to be made accessible.
An ecosystem that is already dominating DeFi: Arbitrum
A protocol that can uniquely create new products ( which are the products that define much bigger market reality in other asset classes ): Ithaca
A market poised for explosive growth, whatever happens to crypto as such, but which growth can only be harnessed by bringing together Arbitrumâs ecosystem and Ithacaâs financial engineering innovation
Multiple crypto underlyings, all types of payoffs, but also any underlyings where options would naturally be desired but TradFi liquidity and infrastructure havenât been generated yet; Arbitrum and Ithaca can be trailblazers launching liquid derivative markets for DeSo, DePin, GPU as a Service, Carbon credits.
This is the vision we want the Arbitrum community to rally around, as the stakes are high and the reward immense.
Is your project composable with other projects on Arbitrum? If so, please explain:
Ithaca enhances its composability within the Arbitrum ecosystem through the integration of Axelar for seamless cross-chain bridging. This approach allows for the effortless transfer and automatic conversion of assets from various blockchains into WETH and USDC on Arbitrum. Such functionality not only simplifies the user experience by providing a unified gateway for asset transfers but also ensures immediate interoperability with the rest of the Arbitrum ecosystem.
We are planning to explore integrations with Arbitrum native Perp DEX Protocols, for instance GMO as well as Borrowing / Lending / Restaking Protocols, for instance Open Dollar.
Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains?
Premia Blue, Dopex and Rysk Finance are Option Protocols on Arbitrum. However, we believe our offering to be unique in a number of ways:
- The matching engine innovations mentioned above.
- Ithaca uses Frequent Batch Auctions vs CLOB ( continuous limit order book ). Frequent Batch Auctions are recognized as a solution to MEV/Front-running issues.
- Ithaca offers Digital Options (fixed payout options) , which can be combined with Vanilla Options and Forwards and therefore provide expression to all statically replicable structured products.
- Ithaca can be described as an Algorithmic Market Making protocol as opposed to an Automated Market Maker (AMM) based one.
- Finally, our UI has won plaudits for its elegance, its ease-of-use, and its relevance for every type of user, novice or experienced, occasional or professional.
How do you measure and think about retention internally?
Key Metrics:
User Retention Rate: Track the number of users engaging with the protocol (e.g. depositing funds, placing orders, executing trades, participating in governance) over specific periods (daily, weekly, monthly) on a recurring basis.
Transaction Volume: Assess the total volume of transactions over time to measure sustained economic activity.
Relevant usage metrics - Please refer to the OBL relevant metrics chart . For your category (DEX, lending, gaming, etc) please provide a list of all respective metrics as well as all metrics in the general section:
General:
- Daily Active Users
- Daily User Growth
- Daily Transaction Count
- Daily Protocol Fee
- Daily Transaction Fee
- Daily ARB Expenditure and User Claims
Options
- TVL (on FundLock)
- Trading Volume
- Open Interest
- List of Traders
- Fees
Do you agree to remove team-controlled wallets from all milestone metrics AND exclude team-controlled wallets from any incentives included in your plan: YES
Did you utilize a grants consultant or other third party not named as a grantee to draft this proposal? If so, please disclose the details of that arrangement here, including conflicts of interest (Note: this does NOT disqualify an applicant): NO
SECTION 2b: 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
Yes. The protocol functions crossâchain with deposits being possible from any EVM chain supported by Axelar. However, the core smart contracts are deployed on Arbitrum.
On what other networks is the protocol deployed?:
Mainnet deployment is only on Arbitrum. The protocol is on testnets in both Arbitrum and Polygon.
What date did you deploy on Arbitrum mainnet?:
31-Jan-2024 - Mainnet live since 31 Jan 2024, âcurtains upâ March 17th
https://arbiscan.io/tx/0x97047a2e66102c0405edbe4827abf11a5a93e3d3c98f04a56b7ef26be626a591
Do you have a native token?:
There is no native token, but there is a point system which is being built with an eye towards migrating onto a token governance and utility model.
Past Incentivization: What liquidity mining/incentive programs, if any, have you previously run? Please share results and dashboards, as applicable?
Ithaca Points Program Phase 0
The foundation of an incentive compatible reward system with long term protocol utility. Connect wallet, socials and refer friends to earn Points revealed in Ithaca Points Program Phase 1.0.
Results: 28.9K unique wallets connected. 20.5k Twitter Followers
Current Incentivization: How are you currently incentivizing your protocol?
Ithaca Points Program Phase 1.0
- 1000 points for Connect Wallet [300mil total points]
- 333 points for X (Twitter) [100mil total points]
- 266 points for Telegram [80mil total points]
- 233 points for Discord [70mil total points]
- 166 points for Farcaster [50mil total points]
20% Referral Factor, referee gets awarded with 20% of points accruing up to 6th referred user down the referee sequence.
Mainnet Performance Rewards
- Points are contingent on earning order fill related points on Mainnet.
Have you received a grant from the DAO, Foundation, or any Arbitrum ecosystem related program?: NO
Protocol Performance:
- Mainnet live since 31 Jan 2024, âcurtains upâ March 17th
- 28.9K unique wallets connected
Protocol Roadmap:
- Open mainnet accessibility: March 17th 2024
- BTC Option Market Launch Q2/Q3 2024
- Launch Margin lending / leverage Q2/Q3 2024
- Perpetual Contracts Q3 2024
- Matching engine instance âdeployment-as-a- serviceâ Q4 2024
- Combinatorial Options Q4 2024
Audit History & Security Vendors:
- Quantstamp smart contract audit October 20th 2023 - Quantstamp
- Halborn Al smart contract audit Jan 30th 2024 -
PublicReports/Solidity Smart Contract Audits/ithacaprotocol.io_EVM_Contracts_Smart_Contract_Security_Assessment_Report_Halborn_Final.pdf at master ¡ HalbornSecurity/PublicReports ¡ GitHub - Halborn Back End Pen Test Feb 24th 2024 -
PublicReports/Web Pentest/Ithaca_Backend_WebApp_Pentest_ Report_Halborn_Final.pdf at master ¡ HalbornSecurity/PublicReports ¡ GitHub
Security Incidents:
None
SECTION 3: 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: 350,000 ARB
Justification for the size of the grant :
Incentive Program Summary
| Incentive Pool | ARB Amount | Grant % |
|---|---|---|
| Volume Program | 330,000 | 94% |
| __Options | 180,000 | |
| __Digital Options | 120,000 | |
| __Forwards | 30,000 | |
| User Acquisition Program | 20,000 | 6% |
| TOTAL | 350,000 | 100% |
Two Incentive Programs
1. Volume Program
Program Summary :
- Incentivize market making â tighter markets â more trades â increased volume
- Innovative incentive design:
- Incentives focused on specific products where liquidity is most needed, remembering matching engine provides more bank for each liquidity buck
- Incentives focused during daily âfocal auctionsâ to maximize matches as the market starts. Focal auctions are designated auctions that take place daily at 12:00 hrs UTC and at options expiry.
- Total: 330,000 ARB
- Duration: 12 weeks with 27,500 ARB per week,
- Target overall volume on platform
- 100k daily when program starts
- $3m daily at program midpoint start of week 7
- $10m daily at program end
- Incentivized products
- Sold outermost out-of-the-money call option and digital call option strikes
- Sold innermost out-of-the-money put and digital put strikes
- Next Auction and Dated Forwards
Sizing the Volume Program
- For each incentivized product we calculate the number of auctions incentivized per day
- E.g. strikes x expiries x sides x products x auctions
- We assume for each auction 1 ETH volume needs to be incentivized
- We estimate the opportunity cost of the collateral requirement for each position
- The incentive is then sized to incentivize collateral posting for those specific products
- Volume incentive for Calls & Digital Calls = 4k ARB
- Volume incentive for Puts & Digital Puts = 1k ARB
- Volume incentive for Forwards = 1k
- Total: 6k ARB incentive per day x 84 days = 504k ARB
- The incentive can, however, be reduced as volumes ramp up and as protocol will eventually offer yield on deposits for collateral holders reducing opportunity cost.
- Thus, conservatively, we are asking for 330k ARB for the overall volume program
2. User Acquisition Program:
Program Summary:
- Migrating Wallets â min TVL â Trades â Real users
- 20,000 ARB to be distributed to users from other DeFi protocols who execute a trade and maintain a minimum TVL of 0.5 ETH for the period. The incentive is per user, not per trade.
User Acquisition Program Size:
- We assume an average customer acquisition cost of $8 for the first 5k users. That translates to 40k to get the initial momentum, or ~20k ARB. As with the volume pool, this incentive is self-equilibrating as it is higher when the number of users is smaller, but goes down as more users join. However, a maximum incentive per user will be enforced in case only few users join.
Grant Matching:
None
Grant Breakdown:
As per above table, the breakdown summary of the grant is split between volume and user acquisition incentives. 94% of the grant will be used for volume incentives and 6% for user acquisition.
Funding Address:
0xED8C144571C6Ab5Cf2Fe4740e893e42c05B1A5e8
Funding Address Characteristics:
Custodial wallet provided by Hextrust
Treasury Address:
N/A
Contract Address:
TBD
SECTION 4: GRANT OBJECTIVES, EXECUTION AND MILESTONES
Clearly outline the primary objectives of the program and the Key Performance Indicators (KPIs), execution strategy, and milestones used to measure success. This helps reviewers understand what the program aims to achieve and how progress will be assessed.
Our long-term goal is to leverage our innovative tech stack to ensure Arbitrum becomes the home of DeFi Options trading. We will aggressively continue to grow & refine our product on Arbitrum to capture new users, migrate Options market makers on-chain, grow DeFi Option volumes, increase TVL, and meaningfully contribute to Arbitrumâs sequencer revenue.
Summary:
- Volume: Increase transaction volumes on Ithaca Protocol. Target: $10m daily Volume.
- User Growth: Increase number of active users. Target: 5k monthly active users
Volume Details:
We project to have $100k of daily volume at the start of the program. We believe daily volume will grow to $10m by the end of the period. This is a conservative estimate based on our novel incentive design and the fact our matching engine provides more bang for each liquidity buck.
At $10m daily volume we would be a top 3 DeFi options protocol spot as per DeFi Llama.
The protocol runs Frequent Batch Auctions so wash trading is not a significant concern. These are auctions run periodically (initially every 10 mins) and any willing participant can submit orders. It is not possible to force matches between your own orders (e.g. wash trading).
For more details on FBAs please check our documentation: Frequent Batch Auctions (FBA) | Ithaca Docs
User Growth Details:
By incentivizing users from other option protocols and other chains to trade on Ithaca we will reach our target user. Other options protocols such as Aevo have up to 50k weekly active users. Our target of 5k is achievable. A min TVL requirement is important to remove the risk of sybil and ensure only real users are incentivized.
Execution Strategy:
As described in Section 3 Ithaca will run two incentive programs
Volume:
- Total 330,000 ARB: Program runs for 12 weeks with 27,500 ARB per week,
- Each week, product specific pools will be made available to incentivize market-making in a list of âincentivized productsâ. The list of incentivized products may change/grow in later weeks as new products are launched.
- Each week users earn a pro-rata percentage of each product pool based on the share of volume they traded for that product that week.
- Example: Sold out of the money calls are an incentivized product, so a user that executed 1% of the weekly sold calls volume would receive 1% of the sold call options pool for that week.
- Incentivized Products on Week 1
- Sold outermost out-of-the-money call option and digital call option strikes
- Sold innermost out-of-the-money put and digital put strikes
- Next Auction and Dated Forwards
- As the program progresses, new pools will be created to encourage new products. Example: new expiries (e.g. Day 0 and Day 1 options)
User Acquisition:
- 20,000 ARB to be distributed to users from other DeFi protocols who execute a trade and maintain a minimum TVL of 0.5 ETH for the period
- This incentive is per user/per wallet. The minimum TVL for a minimum of several weeks makes it too costly to create multiple wallets to earn this incentive.
What mechanisms within the incentive design will you implement to incentivize âstickinessâ whether it be users, liquidity or some other targeted metric?
Liquidity begets liquidity:
- Liquidity begets liquidity.
The ARB program is designed to assist with the cold-start problem of a new protocol. Alongside and among incentivized users, there will be regular users of options protocols who will remain in our protocol. These ârealâ users are expected to stay and continue to make markets.
- Our own points program
Our own points program will continue to run in parallel to the ARB program and will require users to continue to use the platform to accrue and retain points earned.
- FundLock
New users must deposit and maintain a minimum TVL in our FundLock contract to be eligible for incentive bonuses. While users can withdraw funds at any time, the fact they have deposited funds creates behavioral stickiness.
- Continued market-making
We will use protocol treasury to provide liquidity during âfocal auctionsâ daily in particular for illiquid products to ensure continued growth.
- Protocol Design Itself
The innovations described in section 2, such as atomic matching of orders, and the implementation of Frequent Batch Auctions significantly minimize the risk of wash trading or other non-sticky behavior. All users participate simultaneously in an auction and are matched by the matching engine.
Specify the KPIs that will be used to measure success in achieving the grant objectives and designate a source of truth for governance to use to verify accuracy:
KPIs:
- Volume
Target: $10m daily Volume. (top 3 DeFi options protocol) - User Growth
Target: 5k monthly active users
Grant Timeline and Milestones:
12-week Incentive Program with grant to be disbursed and paid to users weekly.
Bi-weekly reporting with interim milestones every two weeks:
Volume: 1m, 2m, 3m, 5m, 7m, 10m daily volume
Users: 500, 1k, 1.5k, 2.5k, 3.5k, 5k daily active users
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?
In traditional financial markets, option volumes make up multiples of spot markets and market capitalization, reaching hundreds of trillions of dollars. In contrast, DeFi options remains a $6bn dollar market, representing a tiny fraction of the $2 trillion market capitalization of crypto overall. Ithaca intends to grow that market, bringing that volume to the Arbitrum ecosystem. Moreover, through a hybrid architecture that offers speed and liquidity, Ithaca can capture some of the CeFI option market volume - a 600bn market - and bring that on-chain into Arbitrum.
As discussed in Section 2, Ithacaâs matching engine innovations are not only new to Arbitrum, but across DeFi and TradiFi too.
Let us imagine the possibilities.
The Crypto Option Market can easily grow by 10-50x. This would bring crypto options at par with equity derivatives for example. Within that universe DeFi can easily capture a much bigger percentage of volumes than what is happening now. The examples of both spot DEXs but also perp DEXs, are instructive, inspirational and imminently achievable.
Ithaca can help Arbitrum capture a significant portion of a market that can easily grow 100-500x ( 10-50x as per above, 10x defi as Proportion of CeFi ), even with crypto outright not necessarily increasing in value, just with market maturity but also a platform that allows all the instruments and functionalities that empower users to be made accessible.
An ecosystem that is already dominating DeFi: Arbitrum
A protocol that can uniquely create new products ( which are the products that define much bigger market reality in other asset classes ) : Ithaca
A market poised for explosive growth, whatever happens to crypto as such, but which growth can only be harnessed by bringing together Arbitrumâs ecosystem and Ithacaâs financial engineering innovation.
Multiple crypto underlyings, all types of payoffs, but also any underlyings where options would naturally be desired but TradFi liquidity and infrastructure havenât been generated yet; Arbitrum and Ithaca can be trailblazers launching liquid derivative markets for DeSo, DePin, GPU as a Service, Carbon credits.
This is the vision we want the Arbitrum community to rally around, as the stakes are high and the reward immense.
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 5: Data and Reporting
OpenBlock Labs has developed a comprehensive data and reporting checklist for tracking essential metrics across participating protocols. Teams must adhere to the specifications outlined in the provided link here: Onboarding Checklist from OBL . Along with this list, please answer the following:
Is your team prepared to comply with OBLâs data requirements for the entire life of the program and three months following and then handoff to the Arbitrum DAO? Are there any special requests/considerations that should be considered?
Yes Ithaca team is prepared to comply with OBLâs data requirements for the entire life of the program and three months following and then handoff to the Arbitrum DAO. No special requests / considerations to be considered.
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread that reference your OBL dashboard?
Yes, our team commits to providing bi-weekly updates on the Arbitrum Forum, referencing our Operational Blockchain Ledger (OBL) dashboard.
We will utilize analytics tools to monitor key performance indicators (KPIs) such as daily active users and transaction volumes. These will be reported via a dedicated thread on the Arbitrum Forum, ensuring transparency and community engagement.
*First Offense: In the event that a project does not provide a bi-weekly update, they will be reminded by an involved party (council, advisor, or program manager). Upon this reminder, the project is given 72 hours to complete the requirement or their funding will be halted.
Second Offense: Discussion with an involved party (advisor, pm, council member) that will lead to understanding if funds should keep flowing or not.
Third Offense: Funding is halted permanently
Does your team agree to provide a final closeout report not later than two weeks from the ending date of your program? This report should include summaries of work completed, final cost structure, whether any funds were returned, and any lessons the grantee feels came out of this grant. Where applicable, be sure to include final estimates of acquisition costs of any users, developers, or assets onboarded to Arbitrum chains. (NOTE: No future grants from this program can be given until a closeout report is provided.)
Yes, we will deliver a comprehensive closeout report within two weeks of our programâs conclusion, detailing achievements, financials, and lessons learned.
The report will include summaries of work completed, final cost structure, funds usage, and any returned funds. It will also provide insights into user and developer acquisition costs, alongside any significant learnings that could benefit the broader Arbitrum ecosystem.
Where applicable, weâll include estimates of acquisition costs for users, developers, or assets onboarded to Arbitrum chains, contributing to a deeper understanding of incentive efficacy.
Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the programâs funding stream?: YES