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: TheTrueLeonidas
Project Name: SpartaDEX
Project Description:
SpartaDEX is the ecosystem of products whose foundation is built on top of the first gamified DEX and launchpad on Arbitrum One, having $10+ million TVL locked in the lockdrop event (majority of which locked for a period of 52 weeks)
Our NFT collections that have been embedded into the core of operations of the ecosystem have gathered more than 700 $ETH total volume.
Team Members and Qualifications: [List team members and their qualifications, roles, and responsibilities]
Below presenting the core members chosen by the DAO to manage strategy, operations, marketing and development of the SpartaDEX Ecosystem:
Zeus - Co-Founder and CEO, Head of Business Development
BigMack - Co-Founder and Product Owner
TheTrueLeonidas - Co-Founder, Jack of all trades
Leonidas - Community Manager
Archidamus - Moderator
CleomenesTheSpartan - Do-it-all person
Andy - Graphic Designer
Cleo - Copywriter
McWarthog - Blockchain Lead Dev
Reinow - Tech PM
Friqu - Senior Backend Dev
VarRlz - Senior Frontend Dev
Javor - Frontend Dev
hfx - Frontend Dev
Luke - Dev Ops
Hakuho - Testing Engineer
Project Links:
DEX: https://app.spartadex.io/
Launchpad: https://launchpad.spartadex.io/
Website: https://spartadex.io/
Twitter:https://twitter.com/spartadex_io
Discord:https://discord.com/invite/spartadex
NFT collections
https://opensea.io/collection/spartadex-revealed
https://opensea.io/collection/spartadex-spartans
Contact Information:
Twitter: https://twitter.com/Spartadex_io
Email: contact@spartadex.io
Do You Acknowledge That Your Team WIll Be Subject to a KYC Requirement?: Yes
SECTION 2: 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: 500,000 $ARB (reduced request, prev. 650,000 $ARB)
Grant Matching:
Yes. SpartaDEX will continue to incentivize pools alongside the $ARB tokens provided by this grant. The exact number is estimated to be between 2 to 3 million of $SPARTA tokens until the end of the grant distribution period.
Grant Breakdown:
Upon receiving the grant, we plan to allocate the funds in the following manner, with distribution set to continue until the end of January 2024:
-
70% (increased from 60% - 10% has been reallocated from SAS pool) - Liquidity Incentives for Trading Pairs: This portion of the grant will be used to offer rewards for new liquidity providers for both existing and newly added trading pairs on SpartaDEX. Our current TVL is around $10M split across just 6 pairs. When compared to other leading DEXes on Arbitrum the liquidity on each of our major pairs is competitive.
-
30% - Incentives for Liquidity of the New Projects that will have the IDO on our Launchpad: This substantial allocation is aimed at attracting new projects to launch their Initial DEX Offering (IDO) via Sparta Launchpad. What is more, we provide them with an added advantage: our experienced Rust developers can offer advisory services and conduct smart contract audits. This is included as a part of our service package.
We find below points crucial for understanding of the breakdown of 30% allocated to projects that will have their IDO on our Launchpad:
1. SpartaDEX will host IDOs of at least 5 projects on Sparta Launchpad until the end of January 2024. To each project there will be a max of 6% $ARB tokens (5 x 6% = 30%) allocated for incentivizing liquidity
2. If SpartaDEX doesnât launch 5 projects, the remaining funds will be returned to the wallet provided by Arbitrum Foundation. We will not keep these funds.
In case it will be known for us in advance that we wonât manage to launch 5 projects, which we find unlikely considering whatâs happening on the backstage, we will move remaining % to reward existing liquidity.
3. The allocation for incentives rewards of each project will depend on the liquidity.
In the event that any portion of the grant remains undistributed for any reason, the SpartaDEX team commits to returning the unused funds to the originating multisignature wallet.
This transparent and carefully planned allocation ensures that the grant will serve as a catalyst for growth, attracting both new users and high-quality projects to the Arbitrum ecosystem via SpartaDEX.
Funding Address:
0xA474b646Ff92968c08ECc6388228AB18235F3844
Important to note: Funds from this address will be sent to multiple smart contracts that will be deployed later on, and distributed according to âGrant Breakdownâ section.
Funding Address Characteristics: [Enter details on the status of the address, eligible address must be a 2/3 multisig with private keys securely stored]
The aforementioned wallet is a 3/5 multisignature solution where each stakeholder authorizes messages through a hardware wallet.
Contract Address:
Specific contracts will be deployed at the later stage and the addresses will be publicly available. Initially, the funds will be securely kept in a 2/3 multisig wallet.
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Clearly outline the primary objectives of the project and the Key Performance Indicators (KPIs) used to measure success. This helps reviewers understand what the project aims to achieve and how progress will be assessed.
Objectives: [Clearly state the primary objectives of the grant and what you intend to achieve]
As a comprehensive solution integrating both a DEX and a Launchpad, SpartaDEX offers a one-stop-shop for new projects aspiring to launch on Arbitrum. Our team is enriched with experienced developers who have conducted project audits on the Terra Blockchain, specifically using the Rust programming language.
Primary objectives of the grant:
1. Increase Liquidity: Enhance the amount of liquidity available on our DEX, and therefore on Arbitrum, and facilitate seamless trading. We would use the grant funds not only to reward pairs available on our DEX, but also deploy new liquidity pools for already existing projects.
2. Enhance User Engagement - Volume and Number of Transactions: Encourage users to trade on our DEX and participate in our gamified ecosystem. Through active game participation, users increase the yield on the provided liquidity.
3. Attract New Quality Projects to Arbitrum: Strengthen and improve the environment that encourages new projects to build on Arbitrum through our Launchpad and DEX. This will contribute to the overall growth of the Arbitrum ecosystem as we will support the projects in:
-
Pre-launch Phase by dev support and smart contract audits for projects that build with Rust. Also, we will leverage our strong foundation in Launchpad and DEX to encourage projects to develop using the Rust programming language.
-
Launch Phase by assist in raising funds on our Launchpad
-
Post-launch Phase by rewarding their liquidity providers with a share of the grant
4. Implementing Gamified Whitelabels of other Arbitrum Protocols: After deploying new liquidity pairs on our DEX, we will be working on implementing whitelabels of other protocols so that users could access their functionalities through our application.
Key Performance Indicators (KPIs): [Specify the KPIs that will be used to measure success in achieving the grant objectives]
To closely align with our objectives, we will be diligently monitoring the following Key Performance Indicators (KPIs):
1. Total Value Locked (TVL):
- Liquidity for existing trading pairs on our DEX
- Liquidity for new trading pairs involving existing projects on our DEX
- Liquidity for new trading pairs linked to projects launching via Sparta Launchpad
2. User Engagement Metrics:
- Trading volume, evaluated on both daily and monthly scales
- Transaction counts, assessed daily and monthly
- Active user participation in both the DEX and the gamified ecosystem, quantified on daily and monthly bases
- New game participants, determined by unique wallets that have minted a free NFT from SpartaDEX Polis
3. In-Game Metrics:
- Purchases of premium in-game currency, captured by on-chain transactions for acquiring âGemsâ using $SPARTA tokens
- Progress markers like building levels and engagement metrics such as activities in attacking Barbarian Camps within the game
4. New Project Launch Metrics:
- Number of quality projects conducting Initial DEX Offerings (IDOs) on our launchpad
- Overall value raised through these IDOs
5. Marketing Outreach Metrics:
- Reach and engagement levels on Twitter to gauge the effectiveness of our marketing and awareness campaigns
By keeping an attentive eye on these KPIs, we aim to continuously adapt and optimize our strategies, thereby ensuring the ongoing growth and success of the SpartaDEX ecosystem within Arbitrum.
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?: [Provide details]
1. Attracting Quality Projects:
With the financial support from the grant, SpartaDEX can intensify its efforts in attracting and supporting new quality projects to build on Arbitrum due to using the funds to reward liquidity providers. This will not only enrich the Arbitrum ecosystem with innovative projects but also increase its competitiveness and attractiveness as a preferred blockchain for project launches.
The SpartaDEX ecosystem provides a one-stop-shop solution for new projects, offering services such as smart contract audits, raising funds, trading, and building liquidity which would be additionally boosted with the grant funds. This comprehensive support will translate into a larger community, driving growth and innovation within the Arbitrum ecosystem.
2. Enhancing Yield Mechanics:
The grant will facilitate the improvement of yield mechanics, encouraging projects that are looking for the best chain for their launch to consider building on Arbitrum.
Justification for the size of the grant:
SpartaDEX is a native Arbitrum DEX and Launchpad gathering a strong community of devoted users. With the liquidity of more than $10 millions, of which the majority is locked in the Lockdrop for a period of 52 weeks, we have already proved that our community is vibrant and devoted.
The size of the grant was carefully discussed within our Team, DAO and the most committed members of our community - Elders.
We are a new and innovative protocol, the first gamified DEX native to Arbitrum, the first to organize the lockdrop event and we believe that we brought a huge value to the whole ecosystem, while aiming to bring ten times more, through:
-
Bringing high quality projects to Arbitrum space
-
Increase user engagement and DEX metrics
Execution Strategy: [Describe the plan for executing including resources, products, use of funds, and risk management. This includes allocations for specific pools, eligible assets, products, etc.]
Funds will be distributed through smart contracts for certain pools. Existing pools that will be incentivized are all the pools available on SpartaDEX:
- WETH/ARB
- WETH/USDC
- WBTC/WETH
- SPARTA/USDC
- GSWIFT/USDC
- USDT/USDC
THESE ARE JUST INITIAL THE POOLS, WE WILL DEPLOY MORE AFTER POTENTIAL GRANT RECEIVING.
The funds will be used solely to achieve our objectives. Team is not in possession of the SPARTA-USDC liquidity as it was added exclusively by the community, we will not benefit from the grant funds.
Grant Timeline: [Describe the timeline for the grant]
Grant funds will be distributed until the end of January 2024.
SpartaDEX Team will create a dashboard in which all of the metrics and KPIs are tracked to ensure that the hypotheses are being positively verified.
If this proposal is greater than 1M ARB, please provide details on any funding tranches or milestones your application aims to abide by:
Not applicable
SECTION 5: 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, DEX, Launchpad and all of our NFT collections are native to Arbitrum
On what other networks is the protocol deployed?:
SpartaDEX is deployed exclusively on Arbitrum One
What date did you deploy on Arbitrum?:
- Public Testnet: April 5, 2023
- 1st NFT collection: April 6, 2023
- Launchpad: July 17, 2023
- Lockdrop Phase I: July 24, 2023
- Fully functional DEX: August 3, 2023
Protocol Performance: [Detail the past performance of the protocol and relevance, including any key metrics or achievements, etc.]
- $10 million TVL (majority locked in lockdrop for 52 weeks)
- 700 $ETH total volume on NFT collections
- The first IDO ($300k) on our Launchpad raised in 48 seconds
- More than 8,000 NFTs of the Polis (access to the game) minted
- 4,400 avg Daily Active Users of the DEX and Game
- More than 68,000 unique visitors in the past month
- More than 100 ETH spent on gas fees on Arbitrum in order to save users funds from potential exploit:
(more here: https://x.com/Spartadex_io/status/1692231075366593005?s=20)
Protocol Roadmap: [Describe relevant roadmap details for your protocol or relevant products to your grant application.]
DEX
Q3
- Implementing In-game gambling games
- New swap user interface
- DEX features available on the SpartaDEX landing page
Q4
- DEX and Game available on mobile
- Upgrades to the game mechanics
- First whitelabels of Arbitrum Protocols
Launchpad
Q3
- New $SPARTA token feature - 3,000 $SPARTA tokens make users eligible for taking part in the IDO
- Setting up smart contract audit department within SpartaDEX to support projects launching on Sparta
Q4
- 4 IDOs confirmed (ReflowBet is the only one known publicly at this moment)
- Multichain Launchpad attracting communities and projects from other chains to launch on Arbitrum
Audit History:
Our audits can be found here: | Audits - SpartaDEX Whitepaper
SECTION 6: Data and Reporting
Provide details on how your team is equipped to provide data and reporting on grant distribution.
Is your team prepared to create Dune Dashboards according to program requirements for your incentive program?:
Yes, we will adjust to program requirements and will create Dune Dashboards according to needs and expand/improve it after receiving feedback.
If not, how does your team plan to report grant data?:
Not applicable
Iâm 100% into sparta since day 1 