Hello @apoorv9 thank you for your application! Your submission meets all requirements to be considered for a snapshot vote.
Proposal looks great overall. Excited to also explore supporting GNS and gDAI pairs on Stella
Stella’s grant request is very reasonable compared to many other applications, with well-defined goals, and solid ROI if approved. Hope to see RDNT/ETH Camelot v3 leverage up and running shortly!
A project with an innovative approach, from what I’ve seen. I’d be in favour of this reasonable grant request.
We’ve worked with the Stella team quite closely on the integration of Pendle assets. Needless to say, they are solid builders in the space and this proposal will serve the Arbitrum community well.
I’m always amazed by the level of their mathematical skills. The optimal swap equation on Uniswap V3 LP is a great testament to their expertise that no one in crypto world can match. A true innovator.
The 186k ARB grant is reasonable.
We at Trader Joe have worked closely with the Stella team, and they have shown consistent commitment to the Arbitrum ecosystem. This proposal is balanced, fair and beneficial to the eco.
Stella rebranded from the original Alpha Venture DAO, but is essentially the same team. Why should the Arbitrum DAO fund a team that has an open issue in regards to user funds being “stuck” with no resolution at hand and no active communication?
Thank you for your question. Stella is indeed the same team as Alpha Venture DAO.
However, there are a few important points that the Stella team would like to clarify:
Stella is a completely separate product from Alpha Homora. Stella operates on a new contract, and user funds on Stella are not affected by the actions taken by Iron Bank, an integrating partner on Alpha Homora that upgraded their contract to freeze users’ funds.
When the incident took place in 2021 and hacker stole the funds, Alpha Homora and Iron Bank had agreed on how to resolve the bad debt. And this is the resolution that had been executed until Iron Bank froze users’ funds. Pls see more details on the agreement here:
AHv2Repayment | Address 0x141e0541d87c6cbdbf2a6a8104248b4b922f629e | Etherscan.
As for the user funds that are stuck in Iron Bank, users voted to proceed with legal case again Iron Bank. Separately, Alpha Homora setup a goodwill fund for depositors and have an active bounty for any whitehat who can help recover funds stolen from hacker.
The Stella platform introduces innovation to Arbitrum by offering users the opportunity to access leveraged strategies. Stella is the first protocol to enable leveraged positions in Penpie pools, integrating with our wstETH pool from Lido and enhancing potential opportunities and benefits for users. The Magpie ecosystem supports Stella with their STIP application, and we believe that by receiving these incentives, the platform can boost user adoption and engagement within Arbitrum.
Stella team has demonstrated history and experience of running leveraged strategies products and the grant request is also reasonable with clear end use of the grants. We are in full support of the proposal and look forward to working with the Stella team to bring more innovative strategies to the ARB ecosystem.
Hello @apoorv9 ,
Now that your application has been marked eligible, please be advised of the remaining steps in the application process to be completed prior to the Review Period Deadline:
Please complete the following steps required for your application to proceed to Snapshot:
To change your proposal to final, please tag an Arbitrum Foundation Forum Moderator (@ stonecoldpat @ cliffton.eth @ eli_defi) by the Review Period deadline to notify them of your proposal’s readiness to proceed from [Draft] to [Final] status.
Once notified, the Arbitrum Foundation Forum Moderator will adjust your title from [Draft] to [Final] status. Once marked as [FInal], your application post will be locked by moderators and you will no longer be able to edit your proposal.
Stella’s been innovating a new space with it’s product and It will be a whole chain reaction that boosts liquidity for a bunch of projects on arbitrum.
Stella deserves this grant.
We wholeheartedly support Stella’s proposal. The team’s energy, the project’s innovation, the amazing work they done, and the transparent grant allocation have impressed us. There are lots space we can explore with Stella, looking forward to seeing a thriving eco on Arbitrum with izumi and Stella!
Post has been marked FINAL and locked.
Very fair proposal which, if passed, will bring tangible benefits to Arbitrum in terms of deeper liquidity and wider utility for ecosystem tokens and projects. Has my support!
Michigan Blockchain supports this proposal with the requested amount being justified given the sustainable benefits to the Arbitrum ecosystem and having conducted an in-depth reviewal process of all submitted STIP proposals. We appreciate Stella’s effort in delivering a promising proposal and working with the community throughout the process.
Stella’s prepared proposal is technically appropriate. It is also evident that they have made developments on Arbitrum with an innovative DeFi approach and a well-known team. Additionally, we believe that the mentioned incentive amount could be suitable incentives to add more traction to both Stella and Arbitrum, and we find the amount to be sufficient.