Section1: Application 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: [Scattering]
Project Name: [Scattering]
Project Description: [Enter Project Description (1-3 sentences)]
Scattering is a one-stop marketplace for fungible NFTs. The Arbitrum community could trade and earn better on Scattering with their 404 NFTs. It serves as the pioneering marketplace for ERC-404 tokens on Arbitrum, seamlessly integrating ERC-404 token trading with NFT transactions. For those users who enjoy a more traditional NFT trading experience, Scattering will also support regular buying, selling, bidding, and sweeping of ERC404 NFTs.
Scattering also provides an instant liquidity market for ERC721 based on fragmentation. It empowers NFT owners to secure their assets in a unique Safebox, receiving sTokens and a Key that represent their NFT’s value. Scattering bifurcates the floor price and uniqueness value of NFT collections, boosting distinct trading markets.
Core Values:
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NFT holders have the ability to sell their NFTs instantly or hedge against future risks.
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NFT investors can acquire sTokens, gaining exposure to their preferred NFTs without purchasing the full assets.
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NFT traders experience the convenience of seamlessly swapping between different collections.
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ERC-404 traders engage in the trading of ERC-404 tokens and their NFT counterparts through a user-friendly interface.
Team Members and Roles: [List team members and their roles/responsibilities]
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Blank Lee(Founder, CEO)
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Kevin( Core Dev)
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Gangsta (Partnerships)
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Kowl (Growth)
Project Links: [Enter Any Relevant Project Links (website, demo, github, twitter, etc.)]
Website: https://scattering.io/
Twitter: https://twitter.com/scattering_io
GitHub:GitHub - RentFun/scattering-contracts
Discord: Scattering
Whitepaper: https://docs.scattering.io/
Blog:ScatteringLabs – Medium
Youtube:https://www.youtube.com/channel/UCxyaVmjwkeuFgQ2gwrk5f5g
Contact Information
Point of Contact (note: this should be an individual’s name, not the name of the protocol): [forum handle]
Name: Blanklee
Tg: Telegram: Contact @blanklee123
Twitter: https://twitter.com/Blanklee3
Email: blanklee2018@gmail.com
Do you acknowledge that your team will be subject to a KYC requirement?: [Yes/No]
Yes
SECTION 2a: Team and Product Information
Provide details on your team’s 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 product’s 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 Scattering’s core team consists of two main components: the core developers and the core operations team. The core developers possess expertise in solid contract coding and web2 development, encompassing both front-end and back-end skills. Most of these developers have entered the crypto space since 2018, boasting approximately 10 years of coding experience.
The operations team primarily comprises NFT enthusiasts on Arbitrum who harbor strong convictions and optimism regarding the future prospects of the NFT space on the platform.
This team has been active in the NFT space on Arbitrum since December 2022, pioneering the first NFT rental protocol RentFun with the innovative Access Delegation Protocol on Arbitrum. Subsequently, they established Scattering, the first marketplace designed to provide instant liquidity solutions for NFTs using fragmentation technology. Additionally, the team introduced ERC404 innovations to Arbitrum through the issuance of Crystal (ERC404) experiment which is the first and flagship of ERC404 token on Arbitrum. Scattering will serve as the hub for 404 innovations on Arbitrum by releasing the Arbitrum ERC404 Builder Club Program.
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Blank Lee(Founder, CEO)
- Former core builder of StaFi (https://twitter.com/StaFi_Protocol) since 2020, which is one of the most well-known liquid staking protocols with over $40M TVL.
- In charge of partnerships, strategy, and operations.
- An Ethereum enthusiast and $ARB Maxi.
- Holds a Master’s Degree in Finance and has been dedicated full-time to the crypto industry since 2018.
- Twitter: https://twitter.com/Blanklee3
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Kevin( Core Dev) :
- Former core dev of StaFi (https://twitter.com/StaFi_Protocol) since 2020, which is one of the most well-known liquid staking protocols with over $40M TVL.
- Mainly responsible for back-end development and contract coding.
- Possesses over 10 years of experience as a full-stack developer and has a strong proficiency in Solidity and Rust.
- Holds a Master’s Degree in Computer Science and has been fully immersed in the crypto industry since 2020.
- Twitter: https://twitter.com/Kevin176732291
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Gangsta (Partnerships):
- Demonstrates a strong foundation in education and public relations, effectively building strategic partnerships and alliances, contributing significantly to the growth of organizations served.
- Possesses over 2 years of experience with a proven track record of success in public relations and business development within the crypto industry.
- Twitter:https://twitter.com/GangstaGeekXXX
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Kowl (Growth):
- Growth manager of Scattering. Focused on cultivating community and driving adoption through the implementation of effective growth strategies.
- Co-founder of TreasureTimes and a Founding Member of RagTagGuild
- Twitter:https://twitter.com/kkowll
What novelty or innovation does your product bring to Arbitrum?
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Scattering stands out as the pioneer and sole native instant liquidity market for NFTs(ERC721&ERC404) on Arbitrum and its Orbit Chains Ecosystem.
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It offers unparalleled experiences for NFT collectors on Arbitrum. Scattering’s Instant Liquidity Market merges DEX trading with the NFT marketplace, transforming NFT trading into a process akin to ERC-20 token trading. Through sTokens and ERC-404s, it enhances liquidity for native NFT projects on Arbitrum.
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The most significant trend and innovation in the NFT space currently is fungible NFTs (ERC404). Fungible NFT innovations have found a great match in the gaming space, as the emphasis on art has diminished. Evidence: DN404 collection Asterix partners with Yuliverse to bring DN404 to games; The first 404 in gamefi experiment EGGX and the X404 from Xpet team on Arbitrum. Arbitrum is poised to lead the innovations in fungible NFTs and games in Layer 2 (L2). Scattering has pioneered the introduction of ERC404 innovations to Arbitrum including PFPs and Games, marked by the issuance of the ERC-404 flagship token: Crystal.
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Crystal is the first and only ERC404 token which gained listings on OKX Wallet and Binance Wallet, further solidifying Scattering’s position as a trailblazer in the NFT space.
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Scattering is contributing to ERC404 token standard with Pandora team: https://twitter.com/Pandora_ERC404/status/1756930143786815846
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Scattering boosts the ERC-404 innovations on Arbiturm. Scattering created an Arbitrum ERC-404 builders club to boost collaboration, code help, and suggestions among ERC-404 builders on Arbitrum.
https://twitter.com/scattering_io/status/1758403172765495732
Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains?
No in the Arbitrum Ecosystem. Scattering is the first to pioneer in the 404 marketplace with real product delivery.
How do you measure and think about retention internally? (metrics, target KPIs)
KPIs:
- Total liquidity value of fungible nfts including ERC404 and Fragmented ERC721
- Trading volume of fungible nfts including ERC404 and Fragmented ERC721
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/No]
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, we don’t.
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/No, and provide explanation]
Yes
On what other networks is the protocol deployed?: [Yes/No, and provide chains]
No
What date did you deploy on Arbitrum mainnet?: [Date + transaction ID. If not yet live on mainnet, explain why.]
2024 Jan 02
Do you have a native token?: [Yes/No/Planned, link tokenomics docs]
No, but planned.
Tokenonics: $SCR Points | Scattering
Past Incentivization: What liquidity mining/incentive programs, if any, have you previously run? Please share results and dashboards, as applicable?
In the pre-mainnet stage from Feb1 to Feb29, we launched the $SCR points season 1 program to reward the early supporters.
Key stats:
Total collections: 5,including 4 ERC721 collections and 1 ERC404 collection
Total TVL: $1.01M
Total Trading Volume: $12,314,047.66
NFTs Locked:24 Smol Brain, 9 GMX Blueberry Club, 6 Primapes and 41 Realm
Peak UV: 6.3K
Dune Analytics Link:
https://dune.com/scattering/scattering-analytics
Have you received a grant from the DAO, Foundation, or any Arbitrum ecosystem related program? [yes/no, please provide any details around how the funds were allocated and any relevant results/learnings(Note: this does NOT disqualify an applicant)]
Yes. We received a grant from the Arbitrum Questbook Grant Program for building the 404 marketplace:
https://twitter.com/scattering_io/status/1760269475537166347
Protocol Performance: [Detail the past performance of the protocol and relevance, including any key metrics or achievements, dashboards, etc.]
As Feb 27th, the key stats of Scattering pre-mainnet with limited access of only whitelists or invitation code:
Total collections: 5,including 4 ERC721 collections and 1 ERC404 collection(Crystal)
Total TVL: $1.01M
Total Trading Volume: $12,314,047.66
ERC 721 NFTs Locked:24 Smol Brain, 9 GMX Blueberry Club, 6 Primapes and 41 Realm
Peak UV: 6.3K
Dune Analytics Link:
https://dune.com/scattering/scattering-analytics
Protocol Roadmap:
As a leader in the NFT innovations on Arbitrum, Scattering has surpassed its initial roadmap for the instant liquidity market for NFTs based on fragmentation. With the advent of the fungible NFTs era, Scattering is committed to enhancing and constructing a platform for fungible NFTs on Arbitrum, delivering the best UI/UX marketplace for them.
In 2024, our priorities are:
- Releasing Marketplace v2, which will function as an one-stop aggregator of dex and nft marketplace for trading fungible NFTs (ERC404s) and ERC721s
- Introducing an “Earn” module encompassing liquidity farming and staking features for fungible NFTs, empowering creators to launch incentive campaigns without permission.
- Establishing a launchpad to facilitate new and native builders of fungible NFTs, providing support for funding their exciting experiments in gaming, tickets, or profile pictures.
- Developing a Fungible NFT wrapper to allow ERC721 NFTs to choose different types of fungible NFTs for wrapping.
- Build a native DEX in the Uniswap V3 module for fungible NFTs with customization including higher LP commissions range from 0.1% to 3% and trading fees commission to help creators better monetize on the royalty.
Audit History & Security Vendors: [Provide historic audits and audit results. Do you have a bug bounty program? Please provide details around your security implementation including any advisors and vendors.]
We fully understand that security is of utmost importance for Scattering users’ assets. Therefore, we will make every effort to ensure the protocol’s security.
We will ensure the long-term security of Scattering through the following measures:
- Security Audits: we will invite different security audit firms to help us minimize the security risks as the Scattering grows.
- Minimalistic Design: We use Uniswap as the underlying protocol for sTokens’ trading and liquidity.
- State Monitoring: We continuously monitor the network’s status. Scattering is under constant observation to ensure smooth operations. This involves tracking data changes and verifying key functions. Any anomalies trigger an alert that will be promptly addressed.
- Bug Bounty Program: We will establish a bug bounty program to reward white-hat hackers. Details released soon.
Security Audit
Security Audit Report: https://github.com/RentFun/audits/blob/main/Scattering-Audit-Report.pdf
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: [Enter Amount of ARB Requested]
ARB amount: 100k
Justification for the size of the grant 6: [Enter explanation. More details are better, including how you arrived at the required funding for individual categories of expenses covered by your grant plan]
Currently, the total market value of 404 assets on the Ethereum mainnet stands at approximately $400 million, and the ecosystem continues to experience robust growth, with new fungible NFT assets being generated daily. Taking the flagship asset, Pandora, as an example, with a total market value of $260 million and a daily trading volume of $40 million, it is evident that the trading volume significantly surpasses that of the leading ERC-721 NFT, BAYC (with a daily volume of $3 million). This ample evidence demonstrates the liquidity advantage of ERC-404 fungible NFT assets over solely ERC-721 assets.
Presently, Arbitrum hosts two primary 404 collections: Crystal, issued by the Scattering team, and x404, issued by the Xpet team, totaling a market value of around $5 million. The daily trading volume has fluctuated from an initial $3 million to the current $100,000. Therefore, Arbitrum requires incentives to enhance liquidity and trading of fungible NFT assets to boost adoption of 404 innovation on Arbitrum, positioning it as a pioneering leader in the realm of fungible NFTs.
Calculation Background:
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The current market cap of 404 tokens on the Ethereum mainnet is $234M (source: https://www.coingecko.com/en/categories/erc-404), while the market cap of ERC404 on Arbitrum is contributed by x404 and Cryptal, currently totaling $4.34M (sources: https://dexscreener.com/arbitrum/0xe309fb7c767b849ccee4d97d4c23999d6645b2b5 and https://dexscreener.com/arbitrum/0x84436a2af97f37018db116ae8e1b691666db3d00). At its peak, they had a combined cap of $8.2M. This means the peak market share of Arbitrum for ERC404 was 3.5%, while the current market share is 2%.
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Liquidity is typically paired with ETH and the 404 token, effectively doubling the factor when calculating the TVL of liquidity. The team has staked the majority of the liquidity for Crystal pool, approximately 60% of it. Now, let’s consider the ratio of x404 from xPet. The market cap of x404 is $3.34M, and the liquidity is $818.22K, which is about 24.5%. Additionally, suppose neither the Crystal LP nor the xPet LP are incentivized yet. So, if there were to be a 20% APR for their LPs, the liquidity staking ratio could easily be 90% for Crystal and 50% for x404. Assuming the Crystal team’s address and the x404 team will not participate in this campaign, the sensible staking ratio would be 15% of the total market cap of the 404 collection.
Calculations on the amount:
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Based on current numbers, with a $234M market cap for 404 tokens on the Ethereum mainnet and a 3.5% ratio (at peak) on Arbitrum, the 15% liquidity-to-staking ratio equals $1.22M; at 20% for a quarter, it amounts to $61.4K.
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Let’s assume a bull case scenario in which the main net ERC404 doubles in a quarter. The above number for incentives becomes $122.8K.
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Let’s also assume we target double the take rate on Arbitrum, aiming for relative growth here. In this case, the number for incentives becomes $245.6K.
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Therefore, we believe that an amount of $250K, or 125K $ARB tokens, is more likely in this case.
Considering the high competitiveness of LTIPP, the amount of ARB could be around 100K for incentives:
- 90K ARB tokens for LP stakers
- 10K ARB for traders
Grant Matching: [Enter Amount of Matching Funds Provided - If Relevant]
No matching funds since the protocol token is not released yet. But we could consider about pairing with Crystal tokens as the incentives.
Grant Breakdown: [Please provide a high-level overview of the budget breakdown and planned use of funds]
The outlined grant breakdown as follows is designed with strategic utilization of funds to enhance liquidity, encourage staking, and stimulate trading activities within Arbitrum’s fungible nfts ecosystem. These initiatives aim to boost community engagement, attract innovative fungible nft builders, and expand Arbitrum’s influence in the realm of NFT innovations.
- Liquidity Incentives
Objective: Boost liquidity within Arbitrum’s Fungible NFT ecosystem by implementing a liquidity mining program.
Implementation of a Liquidity Mining Program:
- Reward participants for providing liquidity for native 404 collections on Arbitrum.
- Scattering will release a LP staking campaign to distribute the rewards for LP stakers.
- Funding Allocation: 90,000 ARB tokens
- Target Total Value Locked (TVL): $3.6 million
- Duration: 12 weeks
- Annual Percentage Rate (APR): 20%
- Trading Incentives for both dex trading and nft marketplace trading
Objective: Stimulate trading activity of native fungible nfts within Arbitrum’s ecosystem through a trading campaign, boosting user engagement and familiarity with fungible NFTs.
Development of Trading Mining Program:
- Incentivize 404 token traders to engage in trading activities.
- Promote trading through DEX aggregator and NFT marketplace aggregator on the Arbitrum network.
- Funding Allocation: 10,000 ARB tokens
- Target Trading Volume: $5 million
- Duration: 12 weeks
Funding Address:
0x77c14c071e5B9edf658a69cc8585A5536Dae59AE
Funding Address Characteristics:
The above address is a 2/3 multi-sig wallet with private keys securely stored in cold storage.
Treasury Address:
arb1:0x13A01B975F994Bb973C41088A09Aa938BCcb0a7e
Contract Address: [Enter any specific address that will be used to disburse funds for grant recipients]
Incentives. contract: 0xAC3aD89f7a6FB30b900C294A20e85D924bDd14c6
SECTION 4: GRANT OBJECTIVES, EXECUTION AND MILESTONES
Objectives:
The aim of this grant is to stimulate the adoption for fungible NFTs innovations, including ERC404, DN404, SJ741, ERC20721, etc. on Arbitrum.
The grant funds will be used to boost the liquidity for the native fungible nft collections on arbitrum, encourage the staking of fungible nfts on the Scattering website, and facilitate trading volume for fungible nfts on the Scattering marketplace. By achieving these objectives, we intend to boost the development and adoption of 404 Innovations within the Arbitrum ecosystem.
Execution Strategy:
In order to effectively promote the adoption of native fungible NFTs on Arbitrum, Scattering will prioritize targeting the top 404 collections across various user scenarios. The representative ERC404 experiments observed on Arbitrum currently include the following. Scattering hopes to incorporate these experiments into the incentive plan. It should be noted that this is not an exhaustive list, and new ERC404 experiments may still be in progress. We will provide timely support for them.
- Crystal,the 404 experiment from the Scattering team.
- X404, the first 404 token for games from the Xpet team.
- Time Cube 404, the experiment from the Woken Exchange on Arbitrum.
- SimpDoge, the meme ERC404 on Arbitrum
- TOKO, the ERC 404 experiment in social-fi on Arbitrum
- HyperSold ERC404 on Arbitrum.
- We believe that more ERC404 collections on arbitrum will come soon
Fragmentation for ERC721s on Arbitrum
- Fragmentation token sSMOL for Smol Brain collection
- Fragmentation token sGBC for GMX Blueberry Club collection
- Fragmentation token sRealm for Realm from Realmverse collection
- Fragmentation token sPrimapes for PrimapesDao collection
Execution Plan:
This comprehensive strategy aims to not only incentivize liquidity and trading volume but also to encourage active engagement and innovation awareness within the native Fungible NFT ecosystem on Arbitrum. Through diligent monitoring and execution of these initiatives, Scattering is poised to significantly enhance the utility and adoption of native 404 collections on Arbitrum.
1. Liquidity Incentives
Target collections:
| Collections | Market Cap | Liquidity | Total Allocations(ARB) | First Biweekly Allocation |
|---|---|---|---|---|
| X404 | $3.38M | $860.83K | 30,000 | 5,000 |
| Crystal | $1.35M | $1.06M | 30,000 | 5,000 |
| Time Cube 404 | $7.88K | $8.68K | 960 | 160 |
| SimpDoge | $63.29K | $55.71K | 5,280 | 880 |
| HyperSold | $999.90K | $201.24 | 960 | 160 |
| sSmol | $11M | $18.44K | 8,400 | 1,400 |
| sGBC | $3.2M | $1069.16 | 4,800 | 800 |
| sRealm | $1M | $8143.26 | 4,800 | 800 |
| sPrimapes | $0.4M | $2614.36 | 4,800 | 800 |
| In total | 90,000 | 15,000 |
Please note that this is just the first two-week allocation plan, primarily based on their market cap and current liquidity.
The team will monitor the staked value of each pool and adjust the biweekly allocations following the rules below:
- A minor privilege for the 404 collections on allocations.
- The allocations will mainly be based on the real staked value and projected APR. The allocations will ensure that each pool’s APR is very close to each other.
- The allocations will change every bi-weekly period based on the observed metrics such as volume and TVL of the pool.
- If there are new 404 collections on Arbitrum coming out, the team will also try to support them in the incentive plan and allocate some Arb incentives from Crystal Pools to incentivize them.
2. Trading Incentives
| Ranking | Total Prize(ARB in 6 Epochs) | First Epoch($ARB Amount) |
|---|---|---|
| 1st | 3000 | 500 |
| 2nd | 2000 | 333 |
| 3rd | 1000 | 167 |
| 4th-5th | 500 | 83 |
| 6th-10th | 200 | 33 |
| 11-30th | 100 | 17 |
| Total(ARB) | 10000 | 1667 |
Users will be ranked in terms of the total trading volume (buy + sell) of the 404 tokens and fragmented 721 tokens through the front-end of the Scattering marketplace.
- The Trading Competition will run based on 6 Epochs (each epoch lasting 2 weeks).
- The first epoch will have a prize pool of approximately 1667 $ARB. The ranking for the Epoch 2 tournament will be determined by various parameters, including the trading volume based on the USD value snapshot after each tournament. Further information regarding these details will be announced at a later stage after each epoch.
- To be eligible for rewards, participants’ trading volume in the corresponding week must exceed the reward amount. This means the 1st place winner’s trading volume must exceed 10,000 USDT (500 ARB is approximately 1000 USDT, so the highest yield of the 1st winner is about 10%), and the 30th place winner’s trading volume must exceed 100 USDT throughout the tournament session.
- Scattering retains the authority to invalidate trades identified as wash trades or involving accounts registered illegally in bulk.
Eligible Pairs
- Crystal/eth
- X404/eth
- Cube/ETH
- SIMP/ETH
- Hypersold/ETH
- sSmol/Magic
- sGBC/Magic
- sPrimapes/Magic
- sRealm/Magic
What mechanisms within the incentive design will you implement to incentivize “stickiness” whether it be users, liquidity or some other targeted metric?
We view incentives as just one means of attracting users. Firstly, we attract builders to continue innovating on Arbitrum by offering incentives, thereby drawing user attention and transactions involving 404 assets, enabling them to experience 404’s innovations.
Secondly, we continuously enhance the trading experience on the Marketplace, including DEX aggregators and the NFT trading section. Users can obtain the best execution prices on Scattering, while NFT trading offers the most comprehensive order books and fastest transaction methods.
Thirdly, Scattering will focus on boosting the Earn section. Any party within the community can create incentive pools on Scattering’s app to incentivize liquidity or staking of 404 assets. Users can discover the optimal ways to earn rewards at any time on Scattering.
Fourthly, Scattering will support native and high-quality 404 assets on Arbitrum through Launchpad, providing them with more convenient and secure funding. Additionally, we will introduce a 404 Wrapper, enabling the conversion of any ERC20 or ERC721 asset into 404 fungible NFTs.
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.
| KPI | Source of Truth | Justification |
|---|---|---|
| Scattering LP TVL | Dune analytics/Scattering App / LTIPP Data | We will collect data for each LP staking pool, such as the total value of Uniswap V3 LP tokens staked in each pool, in order to calculate the total value of LP tokens staked. |
| Staked 404 assets value | Dune analytics/Scattering App / LTIPP Data | We will gather data for each 404 asset staking pool, including the quantity of 404 assets staked in each pool and their corresponding USDT value, to calculate the total value of assets staked. |
| Trading Volume on DEX aggregator | Dune analytics/Scattering App / LTIPP Data | We will track the trading volume of 404 assets through the Scattering DEX aggregator, including daily volume and cumulative volume since the start of the incentive program. |
| Trading Volume on NFT marketplace | Dune analytics/Scattering App / LTIPP Data | We will monitor the trading volume of 404 NFTs through the Scattering NFT marketplace, including daily volume and cumulative volume since the start of the incentive program. |
| Daily UV/PV | Scattering Google analytics / LTIPP Data | We will utilize Google Analytics to track the daily UV/PV of the Scattering app. |
| Total collections incentivized | Dune analytics/Scattering App / LTIPP Data | Total amount of arbitrum native fungible nfts collection under incentivization |
| Total active users | LTIPP Data | Required by OBL specification |
| Daily $ARB expenditure and user claims | LTIPP Data | Required by OBL specification |
| Incentivized user list and gini coefficient | LTIPP Data | Required by OBL specification |
| Liquidity provider data | LTIPP Data | Required by OBL specification |
Grant Timeline and Milestones:
Week 1: The Scattering official website will launch a dedicated ARB incentive page, including LP staking incentive pools and trading campaign. Once grant funding is secured, the incentive program will officially commence. The team will maintain close communication with the community and develop plans to address potential risks.
Week 4: It is anticipated that by the end of the fourth week, liquidity staking of $1 million and a trading volume of $1 million will be achieved. The team will compile user engagement data during the activity period and draft a report. Risk assessments will be conducted, and plans will be flexibly adjusted to ensure the smooth progress of the project.
Week 8: By the end of the eighth week, it is expected that liquidity staking of $2 million and a trading volume of $3 million will be achieved. The team will once again summarize user engagement data and draft a report, while continuing to monitor and address potential risks.
Week 12: It is anticipated that by the end of the twelfth week, liquidity staking of $4 million and a trading volume of $5 million will be achieved. The team will share comprehensive user and incentive data from the entire incentive period with the community, draft a comprehensive statistical report, and submit it. Additionally, they will summarize the key success factors of the project and lessons learned.
Week 13: A detailed statistical report on user data and incentive data from the entire incentive period will be compiled and submitted. The team will continue to communicate with the community and adjust future development plans based on feedback.
How will receiving a grant enable you to boost growth or innovation within the Arbitrum ecosystem?
We are applying for this LTIPP grant to further develop the Scattering platform, and we believe that this grant will significantly contribute to the growth of the Arbitrum 404 ecosystem. Here’s why:
1.Leadership in L2 Innovation: Arbitrum stands out as a leader in Layer2s, and it is crucial for it to lead innovations in the fungible nfts domain as well. By supporting Scattering through grants, Arbitrum not only boosts innovation within the 404 space but also enhances its Total Value Locked (TVL) and user base.
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Success of Crystal Collection: The Crystal Collection, an experimental project issued by the Scattering team on Arbitrum, has demonstrated remarkable success. With a TVL of $1 million and a trading volume of $14 million over the past two weeks, it is the only 404 asset on Arbitrum listed on platforms like OKX Wallet and Binance Wallet.
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Unique Offering of Scattering: Scattering is the first one-stop marketplace for fungible NFTs, dedicated to providing the most user-friendly services for 404 asset trading. Our team’s expertise and unique advantages in the NFT space ensure a seamless user experience and address market demands effectively.
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Future Prospects: Looking ahead, supporting projects like Scattering will play a crucial role in shaping the future of the Arbitrum 404 ecosystem. By incentivizing more 404 builders to choose Arbitrum for their experiments, Arbitrum can solidify its position as a leader not only in DeFi but also in the NFT space.
In conclusion, funding the Scattering incentive program will accelerate the development of the Arbitrum 404 ecosystem, attract more builders to experiment on Arbitrum, and establish Arbitrum’s leadership in the Layer 2 space, both in DeFi and NFTs.
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 8. Along with this list, please answer the following:
Is your team prepared to comply with OBL’s 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, there are no special considerations.
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread that reference your OBL dashboard? [Please describe your strategy and capabilities for data/reporting]
The team will create a Dune Analytics dashboard in the next two weeks to track key OBL data and the core KPIs. Every two weeks, dedicated operations personnel will review and compile the data from the Dune dashboard, creating a report on the usage and achievement of data for the Grant.
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.)
We agree to provide a final report including the information here.
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?: [Y/N]
Yes
