Applicant Name: Silvio Busonero
SECTION 1: APPLICANT INFORMATION
Project Name: Tide
Project Description: Tide helps web3 businesses distribute incentives in a data driven way.
Every web3 business adopts token distribution and direct user incentives as a growth strategy. Most of the proposals for STIP are indeed budget request for liquidity mining programs.
However, liquidity mining can be hugely improved:
- It is not data driven, making it easy for sybil and short term speculator to profit. Ideally this programs should be designed to attract effectively the best users
- It is not optimized for engagement. Users are not (only) looking for better APR. Including mechanics popular in games such as reward randomization can boost campaigns by 10x
- It is not sybil protected. There is a huge discrepancy between real daily active users and airdrops / quest participants. We need ways to boost human participation
Tide wants to solve these problems and has already relevant traction (and paying customers) in web3 (worked with the likes of LIFI, socket, 1inch, NFTperp).
Moreover, tide team recently joined the an incubation program sponsored by a US blue-chip company as it is looking to bring quest-based marketing to the broader web2 market. The announcement of this partnership will be next week.
Team Members and Qualifications:
Silvio - CEO. Former quant at Oliver Wyman (banking / aerospace)
Vincenzo - Chairman. Law background and experience in private equity
Paolo - CTO. 10+ years of experience managing technical team
Engineering team. 4 ultra competitive hackers with past experience in defi and web3
Project Links:
Contact Information
TG: silviobusonero
Twitter: silviobusonero
Email: silvio@fiveelementslabs.com
Do You Acknowledge That Your Team Will Be Subject to a KYC Requirement?: Yes
SECTION 2: GRANT INFORMATION
Requested Grant Size: 80k ARB
Grant Matching: No matching grant
Grant Breakdown: Using the funds to launch an acquisition and retention campaign on Tide
Funding Address: arb1:0xe199d0CA24306cFA5BAee371b821fE5B1edF3456
Funding Address Characteristics: Multisig 2/3
Contract Address: ERC20 factory. 0xfB51d25c88819E25EEA78933c82D3985835Eda95
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Objectives: Grant will all be used to incentivize users’ participation in the various campaigns related to the Arbitrum Ecosystem. Up to now, incentives have often been misallocated, especially when involving quests based campaigns. Below we describe how Tide can ensure to reward authentic and engaged users only.
Key Performance Indicators (KPIs): [Specify the KPIs that will be used to measure success in achieving the grant objectives]
- 250k New active users (with no previous arbitrum transactions)
- 100+ campaigns
- Integration of quest widget and SDK in 5+ projects
- Grant of 40k OP to distribute tokens
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?:
Tide can help the Arbitrum ecosystem acquire and retain users with a new approach. The relatively small size of the grant can help us running A/B tests in quests and develop more sustainable ways to incentivize users in web3.
The grant will be used to fund a program of campaigns mainly focused on incentivizing on-chain activity and only accessible to relevant wallets based on their on-chain history . Each Tide campaign releases tokens (raffles and First come first served), NFT or souldbound rewards.
Tide program will feature some key differentiators:
- Allowlists: Campaigns will be accessible only to users with a relevant on-chain history to mitigate bots and make sure authentic users are onboarded. (e.g. active users, advanced dex users, lending protocol users).
-
Gitcoin passport Integrating minimum gitcoin score allows to have more relevant users and to expand the campaigns reach
-
On-chain actions: The goal is to bring direct value to Arbitrum dApps and on-chain activity is the best way to do it. With Tide, it’s possible to automatically monitor any on-chain event (e.g Deposit 1000$ for 30 days in a pool, perform X swaps ) with no-coding requirements. Sophisticated on-chain tasks will also make sure only interested users will participate and further reduce interaction of bots). Projects are already building on-chain action quest themselves
- Analytics suite: Our analytics and performance suite will be used to understand the impact of the campaigns & the kind of users that are participating. With this information, it will be easier to iterate on the campaigns and adjust them to maximize their efficiency.
- Social actions: Tide support tracking of twitter and discord engagement to merge web3 activity with web2 social
The program be held in partnership with various projects of various size (Pendle, Unstoppable, 1inch, Socket, Magpie, Lyra).
Justification for the size of the grant: We request a relatively small grant to show positive results and iterate on next grant cycles. The average campaign size with ERC20 rewards is 1k $, as we are working with 10-15 projects over a 4 months period, we aim to do at least 50 campaigns.
Campaign example:
- Allowlist: of polygon, op users not active on arbitrum. Bridge at least 1k on arbitrum via socket. Get raffle tickets for 1k ARB tokens
- Allowlist: Gitcoin holders, telegram quest bot users. Swap on 1inch or Uniswap on Arbitrum
- Allowlist: perpetual protocols users with no past GMX experience. Open a Gmx position
- Allowlist: relevant twitter accounts. Task: retweet and reply to campaign post. Get rewarded based on number of followers
All campaign will be displayed in a whitelabel branded space for Arbitrum.
Execution Strategy:
The grant will be used over a 4 months period to create innovative on-chain campaigns to drive usage and traffic to the Arbitrum ecosystem.
Grant Timeline: We can get started 1 month after receiving the first funds
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 4: PROTOCOL DETAILS
Is the Protocol Native to Arbitrum?: No. Arbitrum was the first chain we deployed to and where we had some of our most successful campaigns (NFTperp, Arbitrum Odissey v2)
On what other networks is the protocol deployed?: Ethereum, Polygon, Optimism
What date did you deploy on Arbitrum?: September 2022
Protocol Performance:
50k MAU
60k NFT distributed to real users
100+ campaigns
20 active projects using tide campaigns and analytics
Protocol Roadmap:
Our roadmap for the next months is focused on:
- Tide SDK and widget for branded quests
- Telegram quest bot
- Improve token distribution
- Redo design system and application
Audit History: We haven’t done audits yet. We are not a complex defi protocol. Our contracts are open source and pretty straightforward.
SECTION 5: 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 for your incentive program?: Yes
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread? Yes, we have strong in house analytical capabilities and we will provide periodic insights to Arbitrum forum
Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program’s funding stream?: Y
