Timeswap STIP Addendum

  1. Can you provide a link to your previous STIP proposal (round 1 or backfund)?
  2. How much, in the previous STIP proposal, did you request in ARB?

200,000 ARB

  1. What date did you start the incentive program and what date did it end?

Start: November 14, 2023
End: March 31, 2024

  1. Could you provide the links to the bi-weekly STIP performance reports and Openblocks Dashboard?

Bi-weekly STIP performance reports:

-Final update:

Openblock dashboard: OpenBlock Labs

  1. Could you provide the KPI(s) that you deem relevant for your protocol, both in absolute terms and percentage change, month over month, for the first of each month starting from October 2023 until April 2024, including the extremes?

Our metrics (TVL, DAU, volume) have been on an uptrend since the ARB STIP begun (pre-incentives to peak figures):

  • TVL: $4.97mn → $10.27mn (2.06x)
  • Unique users: 4,173 → 11,496 (2.75x)
  • Total volume: $20.4mn → $71.70mn (3.50x)

Overview of the relevant KPIs growth:

Screenshot 2024-05-03 at 8.30.47 PM

Incentives were live on 16 unique pools, 12 of which are not available as collateral outside of Timeswap.


  • ARB incentives started on November 14, 2024 and begun the uptrend
  • Our monthly average TVL reached a peak of $9.3mn at January 2024, which is a 7-fold increase prior to incentives
  • Minor declines on the following months, though still a 4-fold increase from our pre-incentives period

Screenshot 2024-05-03 at 8.33.03 PM


  • There is noticeable increase in our MAU since since the ARB STIP incentives begun
  • While our overall volume has increased steadily, it has also coincided with the increase of higher ticket size users

Screenshot 2024-05-03 at 8.36.40 PM

Monthly Volume

  • Our monthly volume reached a peak of $17.3mn at December 2023, which is a 4-fold increase prior to incentives
  • Minor declines on the following months, though still a 2-fold increase from our pre-incentives period

Screenshot 2024-05-03 at 8.45.42 PM

  1. Any lessons learned from the previous STIP round?**

We realized it’s much better to concentrate rewards in a fewer no of pools rather distributing it to multiple pools / partners, accordingly we plan to modify distribution of future rewards

New Plans for STIP Bridge

  1. How much are you requesting for this STIP Bridge proposal?
    200,000 ARB
  2. Do you plan to use the incentives in the same ways* as highlighted in Section 3 of the STIP proposal? [Y/N] N

We plan to employ the same model we did in our previous STIP distribution program except for the following changes wrt distribution to pools:

  • We distributed ARB to 15 partner protocols during STIP, based on the traction for respective pools plus community feedback we plan to concentrate the rewards to fewer pools that have performed well in previous cycle and discontinuing rewards to some other non-performing pools.
  • We expect to distribute rewards to 7-10 protocols, details of which will be shared during each biweekly update
  • No other changes planned

Screenshot 2024-05-03 at 8.54.25 PM

  1. Could you provide the addresses involved in the STIP Bridge initiative (multisig to receive funds, contracts for distribution, and any other relevant contract involved), and highlight if they changed compared to the previous STIP proposal?

Multisig to receive funds: 0x3B29b39b37afec28EC636f0f9e16290e28b5A377 (same â…” multisig as our STIP proposal)
Contracts for distribution: bi-weekly Merkle distributors, to be shared and stored upon setup (changes every distribution cycle)

  1. Could you share any feedback or suggestions on what could be improved in future incentive programs, what were the pain points and what was your general evaluation of the experience?

Information fragmentation on announcements, difficult to navigate through the whole governance process for non-governance savvy individuals.

Balancing the loads on various governance participants. In the original STIP, the delegates were solely responsible for the full voting process, which placed a lot of strain on them, which was not fairly compensated for. The LTIPP’s solution of appointing and compensating council members was fair, although a suggestion is to provide payment on a per-proposal basis (rather than allocating a cost and having excessive demand, hence excessive work) to the council members. The bridge program further lifted off this load by implementing an optimistic voting approach, which is interesting

Overall experience was pleasant as each team has the ability to craft/customise their distribution methods, as there is never a one size fits all approach for such.

Hello @ameeth ,

Thank you for your application! Your advisor will be Castle Capital @CastleCapital @Atomist.

Please join the LTIPP discord and ping your advisor in the general chat so they can create a new channel and start communicating with you.

1 Like