[OPEN GRANT APPLICATION] GBC Trading <> GMX

Grants
1

SECTION 1: APPLICANT INFORMATION

Provide personal or organisational details, including applicant name, contact information, and any associated organisation. This information ensures proper identification and communication throughout the grant process.

  • Applicant Name or Alias: XM
  • Project Name: GMX Blueberry Club (GBC)
  • Project Description: GMX Blueberry Club (GBC) is a web3 project based on an NFT collection, which enables real ownership, utility in detaining assets, and interoperability in the crypto and NFT space. The GBC collection celebrates the GMX community.

Over the past year and a half, as part of this drive to strengthen ties with GMX, GBC has launched a competition format called GBC Trading. All participants can take part in this competition, and each month a redistribution is made according to ranking. This grant is intended to support the development of GBC Trading, a competition where everyone has an opportunity to win.

  • Team Members and Qualifications:

    • XM (Founder and CEO): Directs strategic decisions and optimizes resource allocation.
    • Vee (CMO): Orchestrates marketing strategies to bolster brand presence.
    • feedthem (COO): Enhances team performance by overseeing processes.

  • Project Links:

  • Contact Information:

    • TG: @ xm_gbc, @ vee_GBC, @ feedthemGBC
    • Twitter: @ XM_GBC, @ vee_GBC, @ feedthemGBC
    • Email: contact@findgbc.com

SECTION 2: GRANT INFORMATION

Detail the requested grant size, provide an overview of the budget breakdown, specify the funding and contract addresses, and describe any matching funds if relevant.

  • Requested Grant Size: 50k $ARB

  • Grant Matching: N/A

  • Grant Breakdown:

    • The initial cash prize for each competition is funded based on the trading volume generated with our referral code on GMX.io during that competition. 80% of the referral revenues are redistributed to the top traders. In addition to these revenues, we aim to boost the competition with the grant in the following way:
      • Each competition lasts for 1 month, and we plan to distribute the ARB tokens over 3 competitions: 10k $ARB (first month), 15k $ARB (second month), 25k $ARB (third month) to be won by the top-ranked GBC Trading users.
      • Top 1: 50% of total each month (5k $ARB for the first month, 7.5k $ARB for the second month, and 12.5k $ARB for the third month).
      • Top 2: 25% of total each month.
      • Top 3: 10% of total each month.
      • Top 4-10: 15% of total each month.

  • Funding Address: 0xaD1B3c906C11407b8bdE7280442dBBfc3733e63e

    • Funding Address Characteristics: (2/3 multisig with private keys securely stored)

  • Distribution Contract Address: N/A

  • Incentivised Contract Addresses: N/A

SECTION 3: GRANT OBJECTIVES AND EXECUTION

Clearly outline the primary objectives of the project and the Key Performance Indicators (KPIs) used to measure success. This helps reviewers understand what the project aims to achieve and how progress will be assessed.

Objectives:

  • Encourage active participation in our trading competition.
  • Boost transaction volume on GMX through competitive events.
  • Expand the user base by attracting new participants.

Key Performance Indicators (KPIs):

  • Growth in the number of competition participants
  • Enhanced trading volume generated through the competitions

How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?
Receiving this grant will enable us to significantly enhance the attractiveness of our competitions by offering higher cash prizes. This will drive higher participation rates, increase trading volumes, and ultimately contribute to the growth and vibrancy of the GMX ecosystem.

Justification for the size of the grant:
The requested grant size is essential to provide substantial incentives over three months, ensuring that we can attract a broad and diverse range of participants. This initial boost will help establish a strong foundation for sustained engagement and growth.

Execution Strategy:

  • Resources: Allocation of 50k $ARB, with 10k $ARB (first month), 15k $ARB (second month), 25k $ARB (third month).
  • Products: Enhanced trading competition prize pools to attract more participants.
  • Use of Funds: Direct distribution as competition rewards.
  • Risk Management: Continuous monitoring and adjustment based on participation and engagement levels.

Grant Timeline and Milestones:

  • Milestone 1: Trading leaderboard live on GMX V2 and tailored for grant integration - 10k ARB
  • Milestone 2: Trading Volume: 75 million - 15K ARB
  • Milestone 3: Trading Volume: 100 million - 25K ARB
  • Monthly Review: Assess impact and adjust rates and strategies as needed.

Fund Streaming:
We accept the funding of our grant streamed linearly for the duration of our grant proposal, and acknowledge that the multisig holds the power to halt our streamed grant at their discretion at any time.

SECTION 4: PROTOCOL DETAILS

Provide details about the protocol requirements relevant to the grant. This information ensures that the applicant is aligned with the technical specifications and commitments of the grant.

  • What date did you build on GMX: 05/12/2021
  • Protocol Performance: $3.11B traded through BLUEBERRY referral and around $400k rewarded to users (through competition cash prizes)

REFCODE
REFCODE2466×568 68 KB

  • Audit History (if any): N/A

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 Spells and/or Dashboards for your incentive program?: Yes.
  • Does your team agree to provide bi-weekly program updates on the GMX Forum thread?: Yes, we are able to provide this update work on the GMX forum, as we already do on our discord about our products.
  • 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.
1 Like
2

Hey @XM_GBC, thank you for submitting your grant application!

1 Like