Shell Protocol Bi-Weekly Update July 1, 2024

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 62,500

ARB Utilized as Incentives in the Last Two Weeks: 31,250

Contracts incentivized over the last 2 weeks:
Shell+eth gauge: 0x4ff4758a0F4739567f0e955311dE213A69FD16B7
aArbWETH gauge: 0x2CAf747949CA80AB34F98D2b4778d88Ca8760973
Beefy gauge: 0x89a3e65bFC6385B6e8B7603c9Bf0B448D4DAf03F

Contract address label Form 49 completed for all addresses: YES

ARB left over: 31,250

Plan for leftover ARB: The program started one week ago, so we are only half way through the initial tranche. The program will continue at the current rate, on a one week lag until all tokens have been distributed.

Summary of incentives: Incentives went to encourage users to use the Shell dapp interface and provide liquidity to DeFi protocols in the Arbitrum ecosystem. Protocols incentivized this week: Aave, Beefy, Proteus.

Additional Info / Disclosures to Multisig: The Beefy pool that was incentivized had an issue where it was unable to accept deposits for the last couple days of the program. This issue was with the Beefy smart contracts, not with Shell Protocol, so there was nothing we could do. Without this issue, the KPIs reported would have been higher. In general, we expect the second week to perform even better than the first week.


Average daily TVL (added to DeFi protocols): $1,427,642

Average daily transactions: 382

Average daily volumes: $512,267

Number of unique user addresses: 226

Transaction fees: NA

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: Continue along with the plan outlined in our STIP proposal.

Contracts that will be incentivized:
PT-rETH-26JUN2025: 0x7206adad3f9a21933f03118f5f9f76756d7181c4
wstETH-WETH-BPT: 0xa1b059bd3f379c3f22d02ed5f481c2fe7d19a9ec
Shell+eth: 0x4ff4758a0F4739567f0e955311dE213A69FD16B7

Contract address label Form 49 completed for all addresses: Yes

Mechanism for distribution incentives: use a version of the Curve gauge staking contract

Summary of incentives plan: Same plan as previous week.

Summary of changes to the original plan: No changes.