Application Template
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 gamified ecosystem of products whose foundation is built on top of the first DEX and launchpad on Arbitrum One, having $12+ 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, Marketing Strategist and Community Manager
McWarthog - CTO
Leonidas - Community Manager
Roronoazoro - Community Manager
Dragonfly - Business Developer
Sid - Business Developer
Andy - Graphic Designer
Cleo - Copywriter
Anthony - Lead Blockchain Dev
Tom - Solution Architect
Conrad - Senior Frontend Dev
Mike - Frontend Dev
Johny - Senior Backend Dev
Gregory - Senior Full Stack 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: SpartaDEX
NFT collections
https://opensea.io/collection/spartadex-revealed
https://opensea.io/collection/spartadex-spartans
Contact Information
Point of Contact (note: this should be an individualâs name, not the name of the protocol): TheTrueLeonidas
Point of Contactâs TG handle: @TheTrueLeonidas
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 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.
We would like to disclose the Team experience privately.
What stage is your game? What do you mean by MVP? Provide more details on this as well as more details on the specific features/design choices that make SpartaDEX novel and innovative.
By MVP, we suggest that the game is fully functioning but needs additional attention. We are in the latter stages, but need attention to Amphitheatre chests, as they are currently not openable and moreover we are still working on the yield boost on the Senate for the liquidity
providers.
The key innovation is the loop in which players are incentivized to stay on Spartadex. This
innovation comes from Gamifying the DEX, meaning the longer time you spend, the better
the rewards are that you receive and therefore creating deep liquidity on Spartadex. Itâs
easily explained, but I invite you to try the game as well. Itâs never been easier to play a
web3 RTS game, committing transactions on the blockchain and participating in the
launchpad while accruing value across the board, to one self, but also the $SPARTA token.
This is due to our massive reduction of inflation by 70%, as well as in-game currency burn
mechanism which entails of which: â
is burned, â
goes to $SPARTA stakers - Real Yield, â
for SpartaDEX development.
Provide liquidity > play game > higher rewards > take part in IDOs/Private Sales > Re-funnel into liquidity > incentivized to play more and loop. This is the innovative model, which you cannot do anywhere else on Arbitrum.
What novelty or innovation does your product bring to Arbitrum?
We launched as the first gamified DEX and launchpad on Arbitrum One. We have a fully functional MVP game connected to the DeFi aspect of our product.
Is your project composable with other projects on Arbitrum?
Yes, we are:
- Enabling trading of ERC20 tokens on SpartaDEX
- Enabling raising funds from the community in the IDOs on SpartaPad
- Integrated with KyberSwap, which allows swapping any asset available on both Arbitrum and KyberSwap through our DEX interface
- Integrated with OpenOcean
**More details on your integrations with aggregators are advisable. Do you collaborate **
with other protocols?
We are closely knitted with Opensea and Kyberswap, which now functions as routes for all pairs on Spartadex. We also keep tight connection to Gameswift, and once their GS-Chain is launched, we are likely to become the main DEX / Launchpad on GS-Chain. Spartadex also keeps contact to projects which were launched on Spartapad, f.e EclipseFi, an innovative launchpad on Cosmos. And weâre willingly collaborating with anyone who offers us a synergy that benefits both parties mutually.
Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains?
The concept of a gamified ecosystem is unique, however the mechanics of the DEX are similar to Uniswap, SushiSwap, Camelot and our launchpad to DaoMaker, Seedify or ApeTerminal.
How do you measure and think about retention internally? (metrics, target KPIs)
We measure all of the important DEX metrics like TVL, volume, fees generated, unique users.
Relevant usage metrics - Please refer to the OBL relevant metrics chart 45. 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 Metrics:
Daily Active Users
Daily User Growth.
Daily Transaction Count
Daily Protocol Fee
Daily Transaction Fee
Daily ARB Expenditure and User Claims
Incentivized User List & Gini
DEX Metrics:
For each asset/trading pair:
TVL: A daily time series expressed in USD.
Trading Volume: A daily time series, also measured in USD.
Price Impact: Ratio of the difference between the execution price and the spot price to the spot price for each trading pair, expressed as a percentage. This measures how much the price of an asset changes due to a specific trade.
List of Traders: A comprehensive record of addresses or entities engaged in trading activities. This list should include trader addresses and the volume of trades executed.
List of Liquidity Providers: A compiled list of current and past participants per pool who have provided liquidity during the incentivized period of the protocol. The list should include LP addresses, their current liquidity in USD, time-weighted liquidity in USD, and the duration of liquidity provision.
Aside from DEX metrics and general metrics are you using any specific gaming/nft metrics?
Itâs safe to say, that we can analyze in-game analytics, alongside DAU / DNU. We will be
looking into cross-analyzing gaming activity to transaction activity along side launchpad
activity, thirdly.
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
On what other networks is the protocol deployed?:
SpartaDEX is deployed only on Arbitrum One, but launchpad supports all EVM based chains. Spartadex, the game, the dex itself are launched on Arbitrum one. This means, users, spectators, speculators and so on will have to enter the Arbitrum One ecosystem in order to engage with this part of the protocol.
But, the launchpad, as well as fully compatible, is also chain-agnostic. Meaning, projects from arbitrum, linea, ethereum, aptos and so on, can ALL launch on equal footing. The only change, is user gas fee on selected network. We strive to launch mostly Arbitrum projects, as we clearly find this as our home.
What date did you deploy on Arbitrum mainnet?:
17.07.2023 - The first fundraising on SpartaPad: Arbitrum Transaction Hash (Txhash) Details | Arbiscan
Do you have a native token?:
Yes, the $SPARTA token, (arbiscan)
Past Incentivization: What liquidity mining/incentive programs, if any, have you previously run? Please share results and dashboards, as applicable? How successful were these programs and how have they led you to design a better program for the LTIPP?
We have run 2 incentive programs. At the inception of SpartaDEX we conducted the lockdrop event through which we rewarded liquidity providers for locking their liquidity for a certain period of time. The longer the period, the higher bonus in $SPARTA tokens. In total, we allocated 7% of the total supply to bootstrap initial liquidity.
We are still incentivizing these users with additional APR and are running a program for new liquidity providers.
We have set forth the process to create the Dune Dashboard. Our past incentivization
programs including airdrop campaign were hugely a success, then followed by lock drop in which resulted in a $12M TVL locked. These metrics will be captured in order for others to easily analyze these matters.
The success of them, was not particularly learning, but rather the process of getting there and the doubt of the success. Though, as they were a success, it has made us understand the complexity and severity of appropriately interacting with the communities needs. The design now doesnât require LTIPP for its success, but rather enhances it.
Current Incentivization: How are you currently incentivizing your protocol?
We are incentivizing liquidity providers and $SPARTA token stakers with $SPARTA rewards that come from the Ecosystem Rewards pool.
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)]
No.
Protocol Performance: [Detail the past performance of the protocol and relevance, including any key metrics or achievements, dashboards, etc.]
- $13.5 million TVL (around 50% locked in lockdrop for 52 weeks)
- 950 $ETH total volume on NFT collections
- More than $2 millions raised on our launchpad
- More than 11,000 NFTs of the Polis (access to the game) minted
- 1,500 avg Daily Active Users of the DEX and Game
- More than $30 millions of the trading volume in the last 2 months
Protocol Roadmap: [Describe relevant roadmap details for your protocol or relevant products to your grant application. Include tangible milestones over the next 12 months.]
Q2 - New launchpad design, NFT staking, 10 fundraises on the launchpad, Gamified leaderboard implementation.
Q3 - New DEX interface and 1inch integration, 12 fundraises on the launchpad
Q4 - In-game multiplayer mode, 15 fundraises on the launchpad
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.]
Security Incidents: [Has your protocol ever been exploited? If so, please describe what, when and how for ALL incidents as well as the remedies to solve and mitigate for future incidents]
No.
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: 250,000 ARB (reduced from 500,000)
Justification for the size of the grant 46:
Spartadex is an entire ecosystem of products. In just the period from the beginning of January 2024 to the end of February 2024 (a full 2 months), the dex generated over $30 million in volume. The daily number of users in the Spartadex game exceeded 1500 (DAU). During this time, there were also 7 private/IDO fundraisings on SpartaPad, all of which were filled within minutes, with an average participation of 500+ individuals.
We are motivated to continue pouring our hearts into the project and undertaking monumental work. Soon, we will unveil the gamified leaderboard to the world, providing us with an opportunity to increase interest in the entire product ecosystem. Each user will receive points based on their activity throughout the ecosystem, which we will reward with $SPARTA tokens. If we manage to secure the grant, it will serve as a springboard for the entire endeavor, allowing us to create something the market has not seen before.
Our goal is to increase the number of trading pairs available on the DEX, as well as the overall trading volume, and attract new users. We aim to boost the Daily Active Users (DAU) to 5000 and create a space where these users will spend a significant amount of time. We do not aim to generate empty numbers; our goal in gamifying DeFi is precisely to build user loyalty, ensuring that they stay with us for years to come.
Our goal is to increase DAU to 5000 from 1500, attract new TVL worth $3m, and increase the dex volume from $10m-$15m to $20m-$30m. Our priority will be to increase the number of users and continue onboarding them. In the gamified leaderboard, we want to reward 1000 people with $ARB tokens and distribute $SPARTA token rewards to 2500 people (top 2500). This way, we aim to create competition and further reward users with appropriate tier levels. We want the main competition to focus on the top positions (where we will provide the largest rewards for individuals generating the most traffic on Spartadex) and the lower part of the table, where less affluent individuals will compete for the smallest tier of rewards. A similar system was applied in bigtime, where 5000 people were rewarded in the leaderboard, and the number of individuals strongly competing for positions exceeded 10,000. Hence, our assumption is that the number of more active players will be twice the number of rewarded positions on the leaderboard; we expect similar results for us.
As for TVL and transaction volume, these factors are much more dependent on market sentiment. Since the submission of the first version of this application to the latest edition, we have managed to increase the number of pairs on our dex by 1, adding the StarHeroes ($STAR) token, whose IDO took place on SpartaPad in February. This project has over 400,000 registered players, an active beta version, and hosts an esports tournament with a prize pool of $1.5m. StarHeroes has greatly contributed to the development of our launchpad and dex, demonstrating that we donât need to focus on the quantity of projects but on their quality, becoming one of the main places for exchanging $STAR tokens. By the end of the grant period, we would like to increase the number of pairs by at least 4 more, but these would be tokens whose majority of volume will be on Spartadex.
We assume that the monthly volume growth triggered by the grant program will be at least $10m and will encourage users to explore projects to which the tokens belong. Although the final scoring table based on weekly summaries of all factors contributing to the leaderboard is being designed by our game designer and tokenomics experts, we assure you that we will do everything to tailor incentives to the audience. In the case of volume, we want to allocate points only after exceeding $500 in weekly volume. Consequently, we assume that at least 3000 users competing for lower positions will achieve this weekly volume, and many of them will attempt to achieve even higher volume. A similar system will be presented for adding liquidity (starting from $500), encouraging users to reach a certain level. This way, the system will be more effective. We are not able to provide specific tables and data at the moment; we want to design this process as effectively as possible.
After minimal progress, it is clear that the lower part of the table alone is expected to generate at least $1.5m in weekly volume ($6m monthly) and provide additional liquidity of $1.5m. We assume that at least twice as much volume and liquidity will be provided through competition for higher tiers, with optimistic forecasts even higher.
Grant Matching: On a monthly basis, we allocate ~150,000 $SPARTA (~$120,000) tokens as incentives for providing liquidity, and we will continue to do so.
Grant Breakdown: 100% of the grant will be allocated to incentives for all activities within the Spartadex ecosystem. Currently, we are in the process of creating a gamified leaderboard, which will be ready before receiving the grant funds. Spartadex will no longer be just another dex that primarily rewards âwhalesâ; we will focus on attracting as many users as possible. Each user will receive points on the leaderboard, rewarding them for progress in the SpartaDEX game, generating volume on our dex on Arbitrum, providing liquidity, and participating in IDOs. This way, we aim to create a genuine âgamified ecosystemâ.
To give a detailed breakdown, we will be incentivizing top 500 leaderboard participants with $ARB tokens at the end of the 12 week campaign. Based on their position they will receive the tokens 50% upfront and 50% vested to ensure they will stay within our ecosystem for longer than the grand period. The detailed distribution is as follows:
| Leaderboard position | Allocated rewards in $ARB |
|---|---|
| 1 | 5000 |
| 2 | 3000 |
| 3 | 2500 |
| 4 | 2000 |
| 5-10 | 1500 |
| 11-50 | 800 |
| 51-100 | 600 |
| 101-300 | 400 |
| 301-500 | 300 |
Disclaimer: Team wallets will be excluded from participating in the leaderboard.
Funding Address: We will create a multisig with respective and appropriate members.
Funding Address Characteristics: To be added.
Treasury Address: Treasury Address
Contract Address: We will be distributing the rewards through a dedicated script based on the Leaderboard position.
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.
Objectives:
- Increase DAU from 1500 to 5000.
- Increase monthly volume from $10-$15 million to $20-$30 million.
- Increase TVL by approximately $3 million.
- Increase the quantity of $SPARTA tokens in staking from 9.5 million to 12 million.
In terms of the TVL increase, we would aim at increasing TVL mainly in the pairs below:
WETH/USDC from $2.05 to $3.0 million
WETH/ARB from $3.5 to $5.0 million
We wonât be using the ARB tokens directly to incentivize the pools. We will do that indirectly through our gamified leaderboard that will reward users for providing liquidity, volume, and game performance.
Execution Strategy:
The distribution will be dependent on the number of points and the position on the gamified leaderboard. While the points themselves will be backend-driven, their components will be traceable on-chain. Users will be rewarded points for the following aspects (the precise system is currently in preparation):
- Providing liquidity on Arbitrum
- Generating volume on the DEX
- Quantity of $SPARTA tokens in staking
- Progress in the game
Increase DAU from 1500 to 5000
This will be executed via the marketing plan along side our large KOL base. But, it will be backed by the tangible aspect, that the senate yield boost will be in effect, and, additionally, the gamified leaderboard underscoring the necessity to play described below in the execution strategy.
Increase monthly volume from $10-$15 million to $20-30 million
Our plan to increase the monthly volume from target a to b, will be throughout our
launchpad proposal. Newest project on the market are looking where to place their liquidity, and we can directly offer them such. Consider; Star Heroes, just launched, has ROIâd 40x and now had liquidity on Spartadex increasing the volume. This is our game plan.
Increase TVL by approximately $3 million
I will refer back to stop point, speaking of DAU, as the same strategy will kill two birds with one stone.
Marketing > Fulfillment of development involving leaderboard + yield boost and thereby incentivizing more liquidity to enter Spartadex.
Increase the quantity of $SPARTA tokens in staking from $9.5 million to $12 million
We have throughout our meetings thoroughly discussed the matter to reduce staking
periods from 110 days. But so far, the market is accepting this strategy. I do not see the
need to sugarcoat the simplicity of how we will increase the staking amount.
Better launchpad offering and private offerings = higher amount in staking.
The grant will be fully allocated to rewarding users from the gamified leaderboard, with its components being liquidity, volume, staking, and progress in the game.
We donât want to be another project that rewards tokens exclusively to whales; we want to target a broad base of individuals. Therefore, an important component will be progress in the game, which will account for 40% of the entire basket. The game is impossible to âbot,â as progress in it also requires adding liquidity and is somewhat dependent on it. The game progression system, dependent on liquidity, is outlined in our documentation at the following link: Experience | SpartaDEX Whitepaper
Itâs worth noting that no progress can be made in the game without adding at least $100 to liquidity. A person who adds $10k to liquidity, fully utilizing their time, is able to make progress at least three times faster.
For 25% of the components, added liquidity will be responsible, for 20% transaction volume, and for the remaining 15%, single asset staking of $SPARTA tokens, which we aim to incentivize activity on our launchpad.
This way, we aim to reach every audience group, focusing on onboarding as many new individuals as possible.
What mechanisms within the incentive design will you implement to incentivize âstickinessâ whether it be users, liquidity or some other targeted metric?
Gamification of DeFi is our mission that we aim to continue. The presented plan will be the first season of the gameplay with a gamified leaderboard. After the conclusion of the first season, we will continue and expand on this idea, utilizing $SPARTA tokens for further development.
To encourage users to engage with the protocol for an extended period, even after 12 weeks, we will propose a system where rewards in $ARB tokens will be distributed in two parts. After each season lasting a month, users will receive only 50% of the due rewards, while the remaining 50% will be further gamified and distributed after another 6 months. During this time, all users who qualified for rewards from Season one will compete to maintain their position on the leaderboard. Improving oneâs position relative to other qualifying users will result in a boost of up to 100%, while dropping in position will result in a loss of a portion or all of the remaining pool. This way, we will create significant motivation to utilize all of our products.
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 on Spartadex
- TVL on all pools on arbitrum
- DAU (in our game)
- Amount of $SPARTA tokens in staking
Grant Timeline and Milestones:
Grant will be used within 12 weeks. The distribution will take place on average every week. This 12-week period will be referred to as the first Season, with the aim of generating maximum interest in the event and attracting as many users as possible.
- Week 1-2: Integration of Gamified Leaderboard
- Milestone: Launch and integration of the gamified leaderboard within the Spartadex ecosystem. Increased volumes by 30%, increased DAU by 45%, increased total number of transactions by 50%.
- KPIs: Measure user engagement, track the increase in daily active users (DAU), total number of transactions, volume and new liquidity added.
- $ARB unlock: 0 tokens
- Week 3-6
- Milestone: Adapting the leaderboard points system based on user feedback and tailoring it to achieve our goals.
- KPIs: Maintaining at least the same rate of growth in Daily Active Users (DAU), total number of transactions, volume and new liquidity added.
- Goals:
DAU: 3,500
Transactions: +50%
Volume: $25m (monthly)
New liquidity: +$1m - $ARB unlock: 0 tokens
- Week 7-12
- Milestone: Introducing new scoring elements such as individual achievements in the game, volume generation, and liquidity addition on newly added pairs, as well as participation in events like AMA sessions and marketing contests into the scoring system.
- This will be the creative phase aimed at maximizing long-term user loyalty to SpartaDex. The key performance indicator (KPI) will be the continued increase in the number of users, with particular attention to retaining those who joined since the start of the campaign.
- Goals:
DAU: 5,000
Transactions: +25%
Volume: $30m (monthly)
New liquidity: +$3m
Staked $SPARTA tokens: 12,000,000 (~$10m)
As this is the final stage of the leaderboard campaign and all of the metrics are embedded into it, we can expect the KPIs to skyrocket at this specific stage.
- $ARB unlock: 125,000 tokens for the final leaderboard rewards and 125,000 put into the vesting for eligible participants.
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?
Securing the grant will enable us to contribute to the growth of the entire Arbitrum ecosystem. We offer a unique product ecosystem, gamifying the entire DeFi space, believing it to be the best way to attract new users and lower entry barriers. Our goal is not to create another project that will be tested by hundreds of thousands of wallets focused on airdrop farming or bots; instead, we prioritize the quality of these users and building relationships. Receiving the grant will allow us to create a significant incentive for participation in the first season with a gamified leaderboard, which will then continue independently of future grants.
Where does someone new to DeFi want to go? 3 Different protocol to achieve what
SpartanDEX has all-in-one? We point to the fact, that we offer what both (i) Amateur wants as well as (ii) Experts wants. All-in-one roundabout with the greatest opportunities to excel while staying in one protocol.
Example:
User A is new to DeFi, and doesnât find Spartadex. Then wanders the space and perhaps:
finds Arbitrum best for small caps, finds ethereum best for yield services and Solana best for gaming.
User B is also new to DeFi, finds Spartadex, sees that the total offering and value
proposition is exactly what is required to thrive maximally in the space, and stays with the option to explore other Arbitrum protocols in which we launch, collaborate with and so forth.
User C is a DeFi expert, but is tired of getting drained on weird niche protocols, having to bookmark 8 different projects and ensuring their team hasnât been hacked, protocol
exploited and community still alive.
Spartadex solves the issue of complexity in the space with incentives, not only for us, but the user.
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 42. 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.
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread that reference your OBL dashboard?
Yes.
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.
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.