[Verified USD] LTIPP Application - FINAL

Applicant Name:

Benjamin Stani
Jamie Wang
Joshua Ng

Project Name:

Verified USD (USDV)

Project Description:

USDV is a pioneering stablecoin, merging CeFi and DeFi advantages. It’s anchored in tokenized Real World Assets, primarily backed by the Short Term Treasury Bill Token (STBT), linked to U.S. short-term Treasury Bills. This dual-layer of pegging structure, combined with ERC-20 compatible Omnichain technology, allows for seamless cross-chain transactions and a high degree of stability and reliability.

Verified USD, also known as USDV, is a native omnichain stablecoin backed by tokenized real world assets of short-term US T-bills & Repos. The novel stablecoin combines the best of DeFi and CeFi, building upon LayerZero’s Omnichain Fungible Token (OFT) and ColorTrace technology, while tapping into Matrixdock’s access to best-in-class Real World Assets.

Read more on:

  1. Introductory Deck: DocSend
  2. Website: https://usdv.money/
  3. Docs: https://docs.usdv.money/
  4. Coinmarketcap: Verified USD price today, USDV to USD live price, marketcap and chart | CoinMarketCap
  5. Coingecko:https://www.coingecko.com/en/coins/verified-usd-usdv#markets
  6. USDV Dune: https://dune.com/matrixdock/usdv-dashboard
  7. DefiLlama: https://defillama.com/stablecoin/verified-usd

Team Members and Roles:

USDV is owned and managed by the Verified USD Foundation, an independent and non-profit organisation committed to nurturing USDV’s ecosystem of contributors, developers and users globally.
Verified USD Foundation is led by Matthew Commons - President), who is ex CFO of Algorand Foundation and CEO of Cambridge Blockchain.
The project is supported by Matrixport and LayerZero - covering all aspects including real world asset management, tokenization, smart contract development and ecosystem growth.

USDV PICs for Arbitrum are Benjamin Stani, Jamie Wang and Josh Wu.

Project Links:

  1. Introductory Deck: DocSend
  2. Website: https://usdv.money/
  3. Docs: https://docs.usdv.money/
  4. Coinmarketcap: Verified USD price today, USDV to USD live price, marketcap and chart | CoinMarketCap
  5. Coingecko:https://www.coingecko.com/en/coins/verified-usd-usdv#markets
  6. USDV Dune: https://dune.com/matrixdock/usdv-dashboard
  7. DefiLlama: https://defillama.com/stablecoin/verified-usd

Contact Information

Point of Contact

stB3n

Telegram

@jamieweb3 @josh_usdv @b_tc_21

Twitter

@jamie_web3 @benjaminstani

Email

jamie.wang@matrixport.com
joshua.ng@matrixport.com
Benjamin.stani@matrixport.com

Do you acknowledge that your team will be subject to a KYC requirement?:

Yes, we acknowledge that we need to be subject to KYC.

# SECTION 2a: Team and Product Information

Team’s Experience and Achievements:

The USDV team is comprised of professionals from both traditional finance (TradFi) and the cryptocurrency industry, collectively bringing a wealth of experience to the stablecoin project. The team has successfully bridged the best of Centralized Finance (CeFi) and Decentralized Finance (DeFi), creating a stablecoin that is always native, fully backed by best-in-class tokenized real-world assets (RWAs), and offers decentralized minting and yield through its innovative ColorTrace technology.

Matthew Commons: LinkedIn Link

Recent achievements include:

  • USDV is live on 8 of 10 top DEXes by volume (soon 9 with onboarding of Camelot)
  • Top 10 most traded token on PancakeSwap
  • Vetted and approved by Chainlink and Binance for price feed oracle deployment
  • Over 250K unique addresses and over 1.3M transactions since launch
  • The current market cap for USDV is approximately $25M, with a growth rate (CAGR) of approximately 520%

Product State and Audience Segments:

USDV is designed to empower ecosystem contributors by providing access to real-world yield (RWY) and facilitating seamless transactions across multiple blockchains without the need for wrapping or bridging. It is built upon the ERC-20 compatible Omnichain Fungible Token (OFT) Standard, ensuring that it remains fungible across various platforms.
The product targets multiple audience segments, including:

  • DeFi users looking for attractive faming opportunities.
  • Institutional and retail investors seeking exposure to tokenized RWAs without sacrificing liquidity
  • Ecosystem contributors, including developers and projects, looking for a stablecoin with cross-chain capabilities and transparent operations to share yield passively based on circulation contribution

Impact of Incentives on Long-term Growth and Sustainability:

USDV is the only stablecoin with omnichain design and passive yield sharing properties. To clarify, yield sharing is done at a project level. By accepting USDV liquidity, DeFi projects unlock a new passive stream of income at zero cost, effectively providing Arbitrum projects more funds to grow. For example, USDV can co-create and incentivize liquidity pools on Camelot (DEX), the yield generated by USDV sitting in Camelot’s pools will be passed to the team, allowing them to re-invest natively, better fund its own operations or deploy elsewhere.

Incentive support from the chain is critical for attracting liquidity and growing TVL. The goal is for USDV liquidity on Arbitrum to reach critical mass, so that TVL and APR reaches balancing point to ensure long term sustainability.

Incentives play a critical role in USDV’s strategy to drive adoption and enhance its ecosystem. The project has introduced innovative mechanisms, such as the ColorTrace system, allowing ecosystem contributors to earn yield based on their contribution to USDV’s circulation. This model is designed to:

  • Encourage the minting and usage of USDV across various platforms and applications, increasing its circulation and utility.
  • Attract and retain users by offering tangible rewards for their contributions to the ecosystem, fostering a loyal community.
  • Support the sustainability of the project by aligning the interests of users, developers, and investors with the long-term success of USDV.

With a new stream of passive income generated via yield share, protocols integrating USDV are better positioned to achieve profitability and reach the ultimate goal of self-sufficiency. USDV shares 50% of the underlying yield and charges partner protocol zero fees for integration.

Example
PancakeSwap on BSC has reached a stable TVL of $8M - of which ~50% is USDV = $4M.
$4M * 5% APR * 50% / 12 = $8,000/month. USDV charges zero fees.

Off-chain business:

The USDV foundation is an non-profit organisation registered in the Cayman Islands. The Foundation operates as an orphan special purpose vehicle (SPV), a unique legal construct designed to isolate financial risk and to hold complete legal ownership of all reserve assets unencumbered.

What novelty or innovation does your product bring to Arbitrum?

USDV introduces several innovative features to the Arbitrum ecosystem, including:

Decentralized Minting and Yield: USDV is the first stablecoin that enables ecosystem contributors to mint and access real-world yield (RWY) directly. This is powered by the ColorTrace technology, which allows for decentralized minting for verified minters, making it accessible to any user.

Omnichain Fungibility: Built upon the ERC-20 compatible Omnichain Fungible Token (OFT) Standard, USDV eliminates the need for wrapping and bridging, ensuring seamless transactions across multiple blockchains, including Arbitrum.

ColorTrace Technology: A novel token marking algorithm that attributes USDV circulation precisely to each contributor, enabling fair yield distribution. This technology ensures that USDV tokens are fully fungible regardless of their “color,” allowing users to transact interchangeably and permissionlessly across ecosystems.

As USDV permeates across the Arbitrum ecosystem, every project has the opportunity to enjoy new passive income pro-rated based on their contribution to the circulation - all at zero cost.

There is zero cost for projects to integrate USDV, just need to add USDV token address.

Is your project composable with other projects on Arbitrum?

USDV is designed for high composability within the Arbitrum ecosystem and beyond. Its use of the ERC-20 compatible OFT standard and the innovative ColorTrace technology ensures that USDV can easily integrate with various DeFi protocols, lending platforms, DEXs, and other blockchain-based applications. This compatibility fosters a collaborative environment where USDV can enhance liquidity, facilitate cross-chain transactions, and contribute to a more interconnected DeFi landscape.

Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains?

USDV is a tokenized RWA backed stablecoin. The token is ERC-20 compatible - like USDC and USDT. USDV is unique on two aspects

Omnichain: Built on LayerZero’s OFT standard, USDV is the only omnichain stablecoin in the market as of writing.

Passive, equitable yield sharing with protocols: Leveraging ColorTrace, USDV allows every and any protocol within Arbitrum’s ecosystem to own a color. USDV passing through the protocol will be colored accordingly. The more USDV circulation attributable to one’s color, the more yield one gets.

There may be some other protocols with retail yield sharing (ie USDM, USDY), backed by crypto assets (DAI, USDe) - but none omnichain.

How do you measure and think about retention internally? (metrics, target KPIs)

Internally, USDV measures retention and success through several key performance indicators (KPIs), including:

Total Value Locked (TVL): Tracking the growth in TVL provides insights into the adoption and usage of USDV within the DeFi ecosystem.

Trading Volume: Measure of USDV Demand and utility

Market Cap: Overall liquidity within an ecosystem

APR: Perceived risk of our asset, and returns required for user liquidity provisioning

Incentives efficiency: Dollar TVL growth per dollar incentives deployed

Liquidity depth: USDV liquidity at key venues, supporting trades and liquidations

List of DEX and Lending partners: Number of venues allowing users to access, trade, borrow, lend, farm USDV

Peg integrity: How closely USDV stays pegged with USD, critical for user trust and stability

These metrics and KPIs guide USDV’s strategies for user acquisition, retention, and ecosystem development, aiming for long-term growth and sustainability within the Arbitrum ecosystem and the broader blockchain landscape.

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, we agreed to remove team-controlled wallets from all milestone metrics.

Did you utilize a grants consultant or other third party not named as a grantee to draft this proposal?

We do not have a grant consultant, we speak to the Arbitrum Foundation directly.

# SECTION 2b: PROTOCOL DETAILS

Is the protocol native to Arbitrum?

Built on LayerZero’s OFT standard, USDV is the only omnichain stablecoin in the market as of writing. USDV is always native on each chain that it is deployed on, avoiding the risks & inconvenience of wrapped and bridged versions that have hampered ecosystems in the past.

Token contract address on Aarbitrum: 0x323665443CEf804A3b5206103304BD4872EA4253

While USDV is not exclusively native to Arbitrum, it has been developed with a strong focus on integration and optimization for the Arbitrum ecosystem. The deployment of USDV on Arbitrum is a testament to our commitment to leveraging Arbitrum’s advanced layer-2 solutions for enhancing transaction efficiency and scalability. Our team has closely collaborated with the Arbitrum community and its developers to ensure that USDV seamlessly integrates with Arbitrum’s unique features, such as its low transaction fees and high throughput.

This collaboration underscores our dedication to the Arbitrum ecosystem and its users, aiming to contribute significantly to its growth and to offer a stable, reliable, and versatile stablecoin option within its ecosystem. By choosing Arbitrum as one of the primary blockchains for USDV, we aim to strengthen our relationship with the Arbitrum Foundation, demonstrating our mutual interest in advancing the blockchain industry and supporting the broader adoption of DeFi solutions.

Our proactive engagement with the Arbitrum community and ongoing efforts to ensure compatibility and seamless functionality on Arbitrum highlight our commitment to being a valuable and integrated part of the Arbitrum ecosystem. We are eager to deepen our collaboration with the Arbitrum Foundation, leveraging our innovative solutions to drive mutual growth and to provide unparalleled value to users within the Arbitrum network.

On what other networks is the protocol deployed?

USDV is currently deployed on:

Arbitrum
Ethereum
Avalanche
Optimism
Avalanche
Polygon
Viction

What date did you deploy on Arbitrum mainnet?

USDV is deployed on Arbitrum on November 14th, 2023

Do you have a native token?

Yes, link to tokenomics docs can be found here: DocSend

Past Incentivization:

So far we have deployed two liquidity programs on Arbitrum

  1. TraderJoe Arbitrum

One pool: USDV<>USDC
Monthly budget of $10,000 USDV, matched 1:1 by TraderJoe
Link: Trader Joe XYZ | Leading Decentralized Exchange

  1. Uniswap Arbitrum

Three pools: USDV<> USDC, WETH and USDT
No incentives, direct LP by us to facilitate on-chain liquidity

Link:

Current Incentivization:

USDV incentivizes its partners and users on four fronts

  1. Emissions co-incentivization

USDV funds emissions / vote-bribing to DEX partners to incentivize user LP. Usually some level of matching by partner protocol.

  1. Liquidity provisioning

USDV / partner MM provides direct LP to key liquidity pools to provide trading depth. Only for stablecoin pairs.

  1. Education campaign sponsorship

USDV funds third party crypto education providers to create quests at partner venues i.e bridging, swapping and holding USDV.

  1. Yield sharing

USDV provides additional yield sharing to support lending partners and create a more attractive deposit/borrow environment using USDV as an asset.

These current incentivization strategies underscore USDV’s commitment to building a robust and sustainable ecosystem. By offering compelling incentives for users and liquidity providers, USDV aims to increase protocol adoption, enhance liquidity, and establish USDV as a preferred stablecoin across the DeFi landscape.

Have you received a grant from the DAO, Foundation, or any Arbitrum ecosystem related program?

No

Protocol Performance:

The performance of the USDV protocol has been exemplary, showcasing significant growth and achievements since its inception. Key metrics highlight USDV’s rapid ascension in the DeFi space:

  • Live on 8 of 10 top DEXes by volume (soon 9 with onboarding of Camelot)
  • Top 10 most traded token on PancakeSwap
  • Vetted and approved by Chainlink and Binance for price feed oracle deployment
  • Over 200K unique addresses and 1M transactions since launch

Protocol Roadmap:

Over the next 12 months, USDV is committed to expanding its ecosystem and enhancing its offerings. While specific roadmap details were not directly mentioned in the documents, based on the achievements and the strategic direction of USDV, the following milestones can be inferred and proposed:

  • Expansion of DeFi and CeFi Partnerships: Continue to build relationships with leading institutions in both DeFi and CeFi globally to increase USDV’s adoption and liquidity.

  • Enhancement of ColorTrace Technology: Further develop the ColorTrace technology to enhance its yield distribution mechanism, making it more efficient and beneficial for USDV holders.

  • Cross-Chain Integration: Focus on strengthening USDV’s omnichain capabilities, aiming for seamless functionality and integration with additional blockchains beyond Arbitrum, Avalanche, BNB Chain, Ethereum, and Optimism.

  • User Base Growth: Implement strategies to significantly increase the active user base by targeting specific segments within the DeFi and CeFi markets, including retail and institutional investors.

  • Introduction of New Use Cases: Expand USDV’s utility in various sectors such as e-commerce, GameFi, NFT marketplaces, and cross-border remittances, aiming to further increase TVL and liquidity.

These milestones are designed to solidify USDV’s position as a leading stablecoin in the DeFi space, drive long-term growth, and enhance the overall value proposition of USDV to its users and the broader cryptocurrency ecosystem.

Specifically on Arbitrum, USDV has the following milestones

Q2 2024:

Listing and pool creation on Camelot, Arbitrum’s #1 native DEX

Deployment of USDV Chainlink Oracle on Arbitrum

Collateral listing and borrow/supply creation on Radiant, Arbitrum’s leading Lender

Launch of USDV Points Program → linking user behavior on Arbitrum with potential USDV governance token airdrop

Q3 2024:

Collateral listing and borrow/supply creation on AAVE, Compound

Collateral on top perps ie GMX, Hyperliquid

Q4 2024 - Q1 2025:

Ongoing integration with key DeFi, Gaming, NFT and Payments projects built on Arbitrum

Audit History & Security Vendors:

USDV places a strong emphasis on security and has engaged with several prominent security vendors and advisors to ensure the integrity and safety of its protocol. The security framework of USDV is underpinned by comprehensive audits and a proactive approach to identifying and mitigating potential vulnerabilities.

Please refer to our audits and risk assessments at Security | USDV

Audits: Paladin, Zellic and OtterSec + Risk assessment: Chaos Labs

USDV also utilizes Chainlink’s Proof of Reserves for its underlying assets, and has been approved to deploy its oracle price feed on Arbitrum.

USDV does not have a bounty program.

Security Incidents:

No, USDV has never been exploited.

# SECTION 3: GRANT INFORMATION

Requested Grant Size:

260,000 ARB tokens

The grant will be used for 1) unlocking Arbitrum-based crypto<>real world payment channels and 2) growing USDV liquidity to support such payment utility.

1. Crypto<>Real World payment

USDV is in talks with two major Arbitrum-based payment players: MugglePay and Fiat24. USDV wishes to get grants to support adoption with these players. It is common practice to incentivize users to transact by offering rebates.

a/ MugglePay

Cryptocurrency payments API built on Arbitrum
https://www.mugglepay.com/

Rebate calculation: USDV volume* Recommended % rebate

Recommended % rebate = 4% (same level as provided by other mainstream stables according to MugglePay)

Cumulative USDV txn volume milestones shall be met as a condition for releasing ARB grants.

b/ Fiat24

Cryptocurrency card issuer targeting European markets, backed by Visa›

Rebate calculation: USDV volume* Recommended % rebate

Recommended % rebate = 2% (recommended)

Cumulative USDV txn volume milestones shall be met as a condition for releasing ARB grants.

Grant request for Crypto<>Real World Payment portion

2. USDV liquidity to support on-chain transactions and payments

USDV seeks support to grow USDV<>USDC liquidity to $5M and USDV ARB liquidity to $1M.

a/ USDV<>USDC liquidity
USDV seeks higher-than-market APR to promote initial liquidity growth with native USDC.

ASK: Emission support

Emission support calculation
Target TVL * support APR * duration
Target TVL = $5M (across multiple venues)
Support APR = 30% (USDC/USDT stable pairs are at 15% APR)
Duration = 12/52
$5M * 30% * 12/52 = $350K

Current status: $500K TVL USDV<>USDC pool on TraderJoe.

b/ USDV<> ARB liquidity
Competitive APR to support ARB liquidity

ASK: Emission support

Emission support calculation
Target TVL * support APR * duration
Target TVL = $1M (across multiple venues)
Support APR = 200% (ARB/USDC pairs are at 120%-300% APR)
Duration = 12/52
$1M * 30% * 12/52 = $70K

Current status: No USDV<>ARB pools live yet.

Grant request for Liquidity growth portion
image

The following TVL milestones shall be met as a condition for releasing ARB grants.

USDV may setup pools in more than one DEX (i.e. TraderJoe, Camelot and Uniswap). TVL milestones are based on total TVL across different venues (i.e sum of TVL of a specific USDV pair in different DEXes).

Reference growth - BSC
USDV liquidity grew from $4M to $11M in three months by partnering two DEXes: PancakeSwap and THENA.

USDV contribution: ~$50K incentives/month and $4M own LP. This was achieved with zero incentive support from BSC Foundation.

USDV incentive support has been reducing over time because of performance. For example - this March, Our USDV<> ETH pair with THENA developed into a profit-making pool requiring zero incentives. Ie THENA is making pool fees plus passive yield.

Grant Matching:

Baseline: USDV shares yield with its ecosystem partners. Assuming an average of $10M USDV TVL at current T-bill APR, this implies $500K p.a yield generated, of which 50% is returned to our ecosystem partners. Ie $250K generated for Arbitrum.

For lending protocols, we provide greater yield sharing where the dollar value varies depending on the market borrow/supply conditions, but also expected to be in the hundreds of 1000s range.

Essentially the cumulative yield generated for the Arbitrum ecosystem will evolve to par or be greater than the funds requested in this grant.

Additional: Irrespective of DAO and Foundation support, USDV has been providing direct liquidity and monthly incentives to grow Arbitrum’s ecosystem.

This includes but is not limited to $1M in own LP and monthly incentives of $40,000/month distributed across partners.

Grant Breakdown:

Funding Address:

arb1: 0x58f65DDD908c64905d29AB4ce67C16f068eb9EFA
2 of 3 multisig

Treasury Address:

eth: 0x4f4c55B3a41Ab09B7a34CC2810bFC7cD4b061b3d

Contract Address:

arb1: 0x7e34cFFB4159d9A3eFa95e2f336Ffa41CBbE386E

# SECTION 4: GRANT OBJECTIVES, EXECUTION AND MILESTONES

The primary objectives of the USDV grant proposal are to:

  • Enhance Liquidity: Significantly increase the liquidity of USDV on key Arbitrum-based DEXes (Camelot, Trader Joe, Uniswap) to facilitate smoother transactions and more stable pricing.
  • Expand Use Cases: Collaborate with strategic partners (Fiat24, MugglePay) to explore and develop new payment use cases for USDV, driving its adoption beyond traditional DeFi applications.
  • Drive Adoption and User Growth: Implement targeted marketing and community engagement strategies to grow USDV’s user base within the Arbitrum ecosystem.
  • Strengthen Ecosystem Integrations: Foster innovation and utility by supporting projects and developers integrating USDV within the Arbitrum ecosystem through ecosystem grants.

Execution Strategy:

  • Token Distribution Method: The grant will support liquidity incentives through farming, staking, and potentially new mechanisms like referral programs to encourage long-term holding and usage of USDV.
  • Incentivizing Key Pools: Specific allocations will be made for liquidity pools on Camelot, TraderJoe, and Uniswap, focusing on USDV and other eligible assets to enhance depth and reduce slippage.
  • Use of Funds: Allocations will cover liquidity incentives, marketing campaigns, community events, and ecosystem grants, with a keen eye on risk management to ensure sustainable growth.

What mechanisms within the incentive design will you implement to incentivize “stickiness” whether it be users, liquidity or some other targeted metric?

To ensure “stickiness” of users and liquidity, USDV will:

Implement a tiered rewards system, encouraging longer-term staking or liquidity provision.

Explore loyalty rewards for continuous participation in the ecosystem.

Leverage the ColorTrace technology to attribute rewards directly proportional to the contribution towards USDV’s circulation and utility.

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.

Success will be measured using the following KPIs:

Growth in Liquidity: Measured by the TVL in key USDV pools on Arbitrum-based DEXes.

User Base Expansion: Increase in active wallet addresses holding or transacting with USDV.

Adoption Rate: Usage metrics of USDV in new payment use cases developed with Fiat24 and MugglePay.

Community Engagement: Participation rates in marketing and community events.

These KPIs indicate the grant’s success by directly measuring the liquidity, adoption, and engagement objectives set forth.

Grant Timeline and Milestones:

Q1-Q2: Focus on liquidity incentives and initial marketing campaigns.

KPI: USDV reaches $10M. TraderJoe and Camelot live. Radiant live.

Q3: Launch of new payment use cases with Fiat24 and MugglePay. Mid-point KPI: Implementation of at least two new use cases and a 10% increase in transaction volume.

KPI: $15M TVL

Q4: Evaluation and expansion of successful strategies, additional ecosystem grants. Final KPIs: 50% increase in TVL, 30% increase in active user addresses, and successful integration of USDV in payment solutions.

KPI: $20M TVL

How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?

The grant enables USDV to significantly contribute to the Arbitrum ecosystem by enhancing liquidity, expanding use cases, and driving adoption. These efforts justify expected benefits through tangible improvements in usability, accessibility, and functionality of USDV, backed by data from similar past initiatives.

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, we accept the funding of our grant to be streamed linearly for the duration of the grant proposal, and that the multisig holds the power to halt the stream if necessary.

# SECTION 5: Data and Reporting

Is your team prepared to comply with OBL’s 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, our team is prepared to comply with OBL’s data requirements for the entire life of the program and for three months following, before handing off to the Arbitrum DAO. We understand the importance of accurate and timely data reporting to track the progress and impact of our initiatives within the Arbitrum ecosystem. We will ensure that our data collection and reporting mechanisms are robust and capable of meeting OBL’s specifications.

Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread that reference your OBL dashboard?

Our team agrees to provide bi-weekly program updates on the Arbitrum Forum, referencing our OBL dashboard. Our strategy for ensuring consistent and informative updates includes:

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.

We agree to provide a final closeout report no later than two weeks from the ending date of our program. This report will include comprehensive summaries of work completed, final cost structure, details on any funds returned, and lessons learned throughout the grant period. We will also include final estimates of acquisition costs for users, developers, or assets onboarded to Arbitrum chains, providing valuable insights into the program’s impact and efficiency.

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?

Yes (Y), our team acknowledges that failure to comply with any of the above requests can result in the halting of the program’s funding stream. We are committed to meeting these requirements and understand the implications of non-compliance.

This response outlines our commitment and plan to adhere to the requirements and expectations set forth by OBL and the Arbitrum DAO, ensuring a successful and impactful program.

2 Likes

Hello @stB3n ,

Thank you for your application! Your advisor will be SeedLatam Gov @SEEDGov

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.

2 Likes

Hi @stB3n Arbitrum LTIPP

1 Like

Hi @cliffton.eth we are final as well could I kindly ask you to update the title for us too pls?

Cheers

Hey there this proposal has been updated to show that it is FINAL. All the best!

1 Like

Great thanks Cliff for the support!

We at ACryptoS have integrated with USDV and launched automated vaults to manage their liquidity. It’s been a great experience working with them, very communicative team. The proposal looks good, looking forward to this bringing much value to Arbitrum. Good luck!

1 Like

Verified USD (USDV) offers a novel use-case backed by genuine innovation via the LayerZero ColorTrace algorithm. They’ve been live on Arbitrum for a number of months and at Trader Joe we’ve been happily partnered since their launch day.

This is a stablecoin that adds diversity and depth to the current offering of stablecoins on Arbitrum and one that the DAO should be very open and considerate towards supporting its further growth in the ecosystem.

1 Like

We would like to thank you for your strongly designed and prepared proposal. We totally support that stablecoins are key when we talk about DeFi. Moreover, it is quite significant to highlight that Verified USD has the ability to adopt RWAs to the ecosystem. Seeing Fiat24 and MugglePay as partners is also a promising point. With its transparently documented grant execution process, as ITU Blockchain, we will vote in favor of this proposal.

1 Like