Firstly, thank you for your proposal and your evident commitment to the Arbitrum ecosystem.
Introduction and Rationale
Synapse is seeking a grant of 2,000,000 ARB to enhance their asset bridging capabilities on Arbitrum. Already a strong presence with 40% of its TVL on Arbitrum, Synapse aims to make asset transfers faster and more cost-effective. Their proven track record of facilitating $8bn in total volume and engaging around 200,000 users on Arbitrum speaks volumes. We believe the proposal aligns well with Arbitrum’s broader goals, offering tangible benefits like gas and fee rebates to new users and developers.
Concern Regarding Grant Size
The grant request is on the high side given the current budget constraints
Our recommendation for change: Consider lowering the grant request to better align with available funding and other initiatives within the Arbitrum ecosystem.
Castle Capital values the efforts Synapse has put forth and the services it offers to the Arbitrum ecosystem. We are inclined to support the proposal, contingent upon the lowering of the grant size to better fit within the current budget constraints.
Our recommendations can be summarized as follows:
Consider lowering the grant request
We hope our feedback helps fine-tune your proposal and that it’s received as constructive input for the benefit of everyone involved in Arbitrum’s growth.
We would like to support this proposal, which is meticulously designed to inject vibrancy and liquidity into the Arbitrum ecosystem.
Synapse, already a key player in the ecosystem with significant volume and user base, is uniquely positioned to achieve these objectives.
Synapse, proving to be one of the biggest contributors for the ecosystem continuing to provide mining rewards on Arbitrum and supporting the ecosystem with 4M+SYN in the past year, requests the proposal focusing on mainly 2 objectives: supporting faster and cheaper bridging, and supporting Arbitrum partners. Even though the requested budget amount is remarkably big, considering the sustainable outcomes and the possible future contribution for the ecosystem makes it reasonable.
Based on these reasons, ITU Blockchain voted in favor of this proposal.