LTIPP Council Screening Period Results

How Council Selection Worked

Before the screening period

The 5 member council worked together to create a single application template and rubric they would all use. This was done in the presence of the advisors so the advisors would know what the council was looking for to make sure they were guiding protocols in the correct direction.

During the screening period

In the initial review, each application was randomly assigned to three council members. The council members separately reviewed each application and gave either a yes or no along with some feedback for why this decision was made. Each council member had slightly different ways of looking at applications but all were guided by the rubric they created together.

After the initial review, any applicant who got 3 yes votes automatically passed the screening period. Any applicant who got 3 no votes automatically failed the screening period.

Applications that had at least 1 yes and 1 no vote in the initial review were reviewed by a randomly selected 4th council member. If at this point the application had 3 yes or 3 no votes it was accepted/rejected. If it was tied 2 yes votes and 2 no votes the fifth council member was used as the tie breaker.

Results

Below are tables of the applications recommended and not recommended by the council along with the ARB that was requested, and how many yes votes they got.

In total 77 out of 163 applications were recommended for a total amount of 26,414,599 ARB

The council’s feedback can be found here

Recommended By Council

Protocols ARB Requested Council Yes Votes
Aark 900,000 3/3
Aave 750,000 3/3
Across 1,000,000 3/3
Alchemix 150,000 3/5
APX Finance 525,000 3/5
Bebop 400,000 3/4
Beefy 600,000 3/3
Bond protocol 140,000 3/3
Brahma 150,000 3/4
Bunni 30,000 3/3
Charm Finance 55,000 3/4
Chromatic 50,000 3/5
Cian 250,000 3/3
Compound 1,800,000 3/3
Contango 220,000 3/3
Contrax 39,000 3/4
Copra 30,000 3/3
Covenant finance 75,000 3/4
dappOS 81,865 3/3
deBridge 1,000,000 3/3
DeltaPrime 750,000 3/4
DoG Protocol 75,000 3/3
Equilibria 400,000 3/3
Factor 340,000 3/3
Fiat 24 490,000 3/5
GammaSwap 300,000 3/4
Gearbox 650,000 3/3
Gravita 320,000 3/3
gyroscope 100,000 3/4
Harvest Finance 250,000 3/5
Hop 500,000 3/4
Index Coop 165,000 3/4
Integral 225,000 3/4
IPOR Protocol 112,500 3/3
KelpDAO 250,000 3/3
Knights of the Ether 240,000 2/4
Kuroro Beasts 150,000 3/3
Layer3 400,000 3/3
Lido 750,000 3/3
Limitless 75,000 3/3
LOGX 395,000 3/3
Lumin Finance 50,000 3/3
Mountain Protocol 295,000 3/5
Myso 100,000 3/3
Okto 50,000 3/3
Orange Finance 150,000 3/3
orderly network 184,614 3/5
Origin Protocol 185,000 3/3
PancakeSwap 450,000 3/3
Peapods Finance 360,000 3/3
Pear Protocol 350,000 3/3
perpie 200,000 3/3
Perpy 96,120 3/3
Pike 600,000 3/4
Poolside 150,000 3/4
Prime 200,000 4/4
Primex 42,000 2/4
Pyth 1,000,000 3/3
Reserve Protocol 500,000 3/3
Revest Labs 75,000 3/3
SafePal 140,000 3/3
Sommelier 450,000 3/3
Sperax 250,500 3/3
Stader Labs 250,000 3/3
Stakewise 500,000 3/4
Steadefi 150,000 3/5
Steer 250,000 3/3
STFX 300,000 3/3
SX Bet 498,000 3/3
Symbiosis 50,000 3/3
Synonym Finance 400,000 3/3
The Beacon 200,000 3/3
Threshold 300,000 3/4
Uniswap 1,000,000 3/3
Vaultka 1,000,000 3/3
Verified USD 260,000 3/3
Yield Yak 195,000 3/3

Not Recommended By Council

Protocols ARB Requested Council Yes Votes
AcryptoS 80,000 0/3
AirPuff 90,000 0/3
ALLO 550,000 0/3
ApeBond 216,507 0/3
Artichoke 44,500 2/5
Autolayer 100,000 1/4
Axelar Network 1,500,000 0/3
Azuro 1,203,000 2/5
BattleflyDAO 100,000 1/4
Bedrock 510,000 2/5
BiDefi 300,000 0/3
Buffer 225,735 0/3
Chateau Capital 112,500 1/4
Chronicle Labs 150,000 1/4
Clipper 249,004 2/5
Collab.Land/Telefrens 50,000 0/3
Connext 540,000 2/5
Copin.io 250,000 1/4
Coupon Finance 100,000 0/3
Cryptex 165,000 0/3
CVI 250,000 0/3
d2 finance 195,000 2/5
Defined 70,000 0/3
Deri 350,000 0/3
dodo 700,000 0/3
Florence Finance 166,153 0/3
Fluid 300,000 2/5
Fluidity 500,000 1/4
Fringe Finance 100,000 0/3
Garden Finance 400,000 0/3
Giveth 50,000 1/4
goverland 60,000 0/3
Granary 115,000 2/5
Handle Fi 840,000 0/3
Helix 250,000 0/3
HMX 800,000 0/3
Hourglass 125,000 1/4
Ithaca 350,000 1/4
Kaiju Cards 12,000 0/3
Kinto 802,000 0/3
Kleros 42,000 0/3
KTX Finance 500,000 0/3
Kunji 100,000 0/3
Liquity 125,000 0/3
Marginly 133,732 0/3
Maya Protocol 300,000 1/4
MC2 90,000 0/3
Mercle 197,000 1/4
Monkey Empire 60,000 0/3
Mozaic 75,000 0/3
MYX 5,000,000 0/3
Neutra 170,000 1/4
Nevermind 60,000 0/3
Nftperp 750,000 0/3
Olas 510,000 0/3
Overnight Finance 750,000 1/4
Paraswap 480,000 0/3
Playnance 3,600,000 0/3
Predy 300,000 0/3
Purity 60,000 0/3
Rage Trade 1,200,000 0/3
Re.al 300,000 0/3
Reboot 450,000 0/3
Reya Network 700,000 0/3
Rolla 65,000 0/3
Router Protocol 720,000 0/3
Scattering 100,000 0/3
Secured Finance 100,000 1/4
Smilee 150,000 1/4
SNTL 28,365 0/3
Solidly 750,000 0/3
SpartaDex 250,000 2/5
Substance Exchange 200,000 1/4
Sushi 1,200,000 1/4
Sweep 12,500 0/3
syndr 336,800 0/3
Synthetix 4,500,000 2/5
TheStandard io 125,000 0/3
Tigris Trade 248,000 1/4
Tradao 200,000 0/3
Umoja Protocol 150,000 0/3
Unidex 100,000 0/3
XDEFI 50,000 1/4
Y2K 300,000 0/3
Yearn 300,000 2/5

What Happens Next

Any protocol that was recommended by the council will automatically move to a snapshot vote at the end of this week where the DAO will make the final decision of if their incentive application will be funded or not.

Should the DAO feel an application that was not recommended by the council should be funded, any delegate with sufficient voting power (500K ARB) may post a snapshot requesting to fund said applicant just like they would any other DAO proposal.

16 Likes

As a reviewer, we want to say this was a very strong cohort of applications – particularly considering this is the first iteration of the Long Term Incentives Program. We attribute this to the vibrant, hard-working community on Arbitrum that produced the applicants, as well as the inclusion of advisors in the program. Each applicant was assigned an advisor to help them ensure grant plans were complete and as strong as they could be. This is a major benefit that is not typical in most crypto grants programs.

We hope that this program will continue with future grants cycles. The quality of grant plans will only improve from here – it is common in other grants programs for applicants to revise and resubmit successfully if they didn’t get initial approval. In fact, this makes up a significant portion of approved grants elsewhere, and multiple rounds of feedback create some of the strongest grants plans that hone in on the specific strengths of applicants, focus on the goals of a grants program, and construct creative and robust execution plans. If Arbitrum governance is willing to extend this pilot into a permanent program, we definitely recommend that applicants reapply!

And of course thank you to the wonderful advisors that helped applicants (their positive impact was clear when comparing initial drafts with those that were submitted for final review), the other council members, and StableLab for administration of the program.

3 Likes

What’s the rationale behind awarding Uniswap 1 Million $ARB while voting against arbitrum native protocols that could actually use a grant for growth? Some very questionable decisions here.

7 Likes

Looking forward to some feedback!

1 Like

If I had to take an educated guess, I think the idea is that Uniswap incentives are going to attract more large-sized capital to Arbitrum that is currently deployed on other chains. In other words, if LP yield is 20% higher on here for Uniswap, whales have a real incentive to re-deploy on Arbitrum from Polygon or Mainnet or Optimism, etc. People with big bags aren’t going to migrate a six-figure LP position to some degen project with 2m TVL, the risk isn’t worth an extra 10 percentage points of yield.

1 Like

A little more liquidity on a few uniswap pairs is imo not worth denying 10 smaller projects an opportunity to foster significant growth. This program was initially intended to do exactly that iirc.

3 Likes

40M ARB was allocated for this but only 26.4M ARB was approved. There are several really good projects that requested a reasonable amount of ARB and it’s surprising they weren’t approved considering just over half of the allocated ARB will actually be used.

3 Likes

I think the idea is not that it will attract a “little more liquidity.” You could see the liquidity 2x or 3x on big pairs like ARB-USDC or ETH-USDC. That gives more headroom for big trades to happen without meaningful price impacts and attracts more large volume/size trades to the chain. The externalities of having more money on chain are going to indirectly create more demand for smaller market cap projects. You’re underestimating the impact whale money influxes can have on a chain. We don’t need 25 GMX forks. Artificially propping a bunch of degen projects that will be abandoned within a year and have no capacity for sticky TVL is a pretty short-sighted use of funds.

We’re not a GMX fork :sweat_smile:

2 Likes

Hello everyone. I’ve read this proposal and I’d like to express my gratitude to the Council for their hard work! While reviewing it, I’ve come up with a few questions, and I would appreciate it if you could provide me with answers to them:

  1. What criteria did the Council use when approving or rejecting specific proposals within the LTIPP program?

  2. How will projects approved for funding receive their financing, how will they manage these funds, and what will be the process for reporting on their expenditure?

  3. What mechanism will be used to determine that funded projects align with the goals of the LTIPP program and are achieving the expected outcomes? What indicators will be used to assess the effectiveness of fund allocation?

2 Likes

Some of these projects have been building for a year+. Arbitrum gains next to nothing from some whales trading/farming but loses a lot from telling native builders they’re less worthy of support than already massively profitable & dominant players like Uni.

‘We’re deploying on Arbitrum’ is one of the more bearish things you can put in your pitchdeck already, I’m afraid this LTIPP will worsen this further.

1 Like

Keen to see Revest Complete this this Grant Program!

3 Likes

The LTIPP Council’s feedback has been posted here!

1 Like

Precisely because uniswap is able to bring and retain users even in the absence of incentives. That’s the apps that should be put at the forefront.

Hyperliquid literally built the number one DEX in a few months while relying solely on Arbitrum liquidity. Maybe it’s just that the level to make it is higher than it used to be and some “dapps” have a hard time accepting this.

Hyperliquid is not a DEX.

2 Likes

‘relying solely on arbitrum liquidity’

or maybe it’s points/airdrop farming :roll_eyes:

If this was it, many protocols would enjoy their success. We’ve seen STIP recipient protocols combine both token and arb incentives with very little result.
The point is: If you bring something new to the table then people will come and stay on your platform wether you are on Arbitrum or not.
Arbitrum grant program should only help funding projects that are able to retain their users past arb incentives.

Hi I’d like to ask a slightly sensitive question.

I see that @SynthetixAmbassadors were voted down by a close margin, 2 out of 5.

Given that they are competitors with @coinflip , why was there not an abstention in this case?

Following the recent posts on twitter questioning GMX’s involvement with Arbitrum governance, thought it best to clarify the role the GMX Grants Committee (GGC) had after being elected to the LTIPP Council here on the forum.

GGC was involved along with all council members and advisors in setting up the Rubric process and moving forward with the first council-based recommendations for Arbitrum incentive grants. GGC shared with the advisors and council that from our side support of grants beyond 1.0m would need to be exceptional and would be looked at much more critically, given that (i) this was a short-term pilot program, and (ii) it was the first time for this council and (iii) the Dao delegates were relying on the council for this vetting. You can see that the vast majority of proposals scaled their ask down towards the $1m mark, including large protocols with a track record of activity on Arbitrum, such as Uniswap and Pyth. I give the Advisors and council credit for navigating this difficult process.

GGC self-identified a number of protocols that pose a conflict of interest as competitors to GMX, and as such, GMX was removed from the initial assessments of those protocols. GMX only ended up being sent a list of proposals to vote on only if we were the 5th vote, meaning the proposal had not already been rejected or accepted by a majority and as we understood thus could not potentially move forward without another positive vote. In that context we did review and voted on COI protocols, doing so as even-handedly as possible, supporting some (2 proposals) and declining support on others (3 proposals, including Synthetix).

I am sharing this information because it’s important, especially in the early days of the DAO and generally within the Crypto space, that we acknowledge conflicts of interest do exist and do our best to disclose them so that our motives and actions can be properly judged.

The process now moves to the delegates to determine what to do with both the recommended, non-reocmmended and potentially amended proposals.

Speaking individually as a delegate, if proposals from LTIPP that didn’t secure the support of the Council do come to the DAO even those that GGC didn’t vote for, I will absolutely consider supporting them — if they have reasonable proposals in terms of size and use of incentives and show long-term commitment to foster the growth of Arbitrum.

We need many people to help grow Arbitrum, and look forward to both keeping those that are here, and having new builders join the community as well.

8 Likes