SECTION 1: APPLICANT INFORMATION
Applicant Name or Alias: Alfred Capital LLC
Project Name: Alfred Capital
Project Description:
Alfred Capital is a simple tool with a unified dashboard, unique filters, and a button to copy. Based on GMX, Alfred is a user-friendly, on-chain copy trading platform that makes it super easy for anyone to dive into the market. Whether someone has a web3 wallet or just a Gmail account, anyone can join GMX and start trading with almost ZERO friction.
What truly sets us apart at Alfred Capital is our ability to attract a diverse audience to the GMX community. Our standout copy trading feature acts like a magnet, pulling in everyone from non-traders and seasoned crypto traders to copy trading veterans familiar with platforms like eToro and even existing GMX traders. This inclusivity means that anyone can tap into the expertise of top traders, benefiting not just on an individual level but also contributing to the vitality and growth of the entire GMX ecosystem.
In short, Alfred Capital is more than a platform; it’s a catalyst for communal success and advancement within GMX.
Team Members and Qualifications:
Ankur Maheshwari (Founder & CEO) - LinkedIn
Tanuj Soni (CTO) - LinkedIn
Project Links:
Website link: https://alfred.capital/
Medium: Alfred.Capital – Medium
Discord: Alfred
Twitter: https://twitter.com/alfred_capital
YouTube: https://www.youtube.com/@Alfred.Capital
Contact Information:
TG: @alfred_capital
Email: majid@alfred.capital
SECTION 2: GRANT INFORMATION
Requested Grant Size: 71,000 ARB
Grant Matching: Alfred Capital, as a software platform, currently has no tokens in circulation that could be used for grant matching purposes. Our project has been entirely bootstrapped to this point and has cash burned around $500K. As a result, we are in need of financial support to get our smart contracts audited and get Alfred to the market. This grant from the GMX community is critical for us to sustain our development efforts and realize the full potential of Alfred Capital on GMX V2.
Grant Breakdown:
Security and Audits: $82,000
- Comprehensive audits of smart contracts for GMX V1 and GMX V2 integrations.
- Collaboration with cybersecurity firms for ongoing monitoring and protection.
- Ensuring the platform’s security and integrity to protect user assets and data.
Funding Address: 0x34045C99BAcCAD16502a7D52BA49456a91F892F0
Funding Address Characteristics: This is an MPC wallet with private keys securely stored.
Distribution Contract Address: N/A
Incentivized Contract Addresses: N/A
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Objectives: Alfred Capital, already operational on GMX V2, aims to partner with CertiK and ensure the robustness and security of the Alfred Capital platform. By leveraging CertiK’s industry-leading expertise in blockchain security, we aim to instill confidence in our users and provide a secure environment for their copy trading activities.
We have received a quote from CertiK for their services, and the execution of this objective is straightforward — payment of their fee. Securing the necessary funds from this grant will allow us to promptly engage CertiK’s security services. This collaboration will encompass a full smart contract audit, our team KYC, a bug-bounty program, penetration testing and access to CertiK’s Skynet, ensuring that Alfred Capital adheres to the highest standards of security and trustworthiness.
Key Performance Indicators (KPIs):
| Objective | Description | KPI |
|---|---|---|
| Security Partnership with CertiK | Ensure robust security and efficiency of the copy trading platform through comprehensive smart contract audits, penetration testing, team KYC, and access to CertiK’s skynet services. | Launch of Alfred’s GMX V2 integration by the end of Jan, 2024. |
How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?
Alfred Capital’s Public Launch with GMX V2 will:
- Boost Trading Volume: Enhanced data analytics and robust infrastructure will attract more users, increasing trading volume and fees.
- Attract New User Segments: By offering advanced copy trading features, we will attract both novice and seasoned traders to GMX V2.
- Ensure Security and Reliability: Through comprehensive smart contract audits, we assure users of a secure and reliable trading environment.
Grant Allocation:
- 71,000 ARB for CertiK’s Services: We opted for CertiK’s $71,000 ARB smart contract audit over Chain Security’s $2,84,211 option due to CertiK’s proven expertise, cost-effectiveness, and commitment to multiple iterative assessments. CertiK’'s specialized knowledge and comprehensive approach provide a thorough security evaluation at a reasonable cost, ensuring a robust and cost-efficient solution for us.
Grant Timeline:
- 71,000 ARB in January 2024: For conducting the smart contract audit. (To be paid directly to CertiK)
Fund Streaming:
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 streamed grant at their discretion at any time?
Yes
SECTION 4: PROTOCOL DETAILS
Deployment on GMX:
Alfred Capital’s journey on the GMX platform began with the development of our foundational copy trading protocol in late Q1 2023.
Prior to this, our team had been focused on refining our core technology and algorithmic strategies, a process that spanned several months. This preparatory phase allowed us to build a robust and efficient platform, drawing on insights and best practices from the broader decentralized finance (DeFi) landscape.
Protocol Performance:
Alfred Capital has successfully concluded its private beta phase on GMX V1, demonstrating promising outcomes for pre-beta users. The results, reflective of the platform’s potential, have been markedly positive. Here is an example of the performance metrics from one of our users during the beta:
The results from the private beta showcase the platform’s capability to deliver substantial returns through its copy trading feature, setting a strong precedent for public rollout on GMX V2.
Protocol Roadmap:
-
Q4 2023:
- Complete and integrate advanced data pipelines for GMX V2 trader analytics.
-
Q1 2024:
- Initiate comprehensive security audit to ensure the integrity and safety of our platform.
- Launch the updated version of Alfred Capital based on GMX V2, and focus on user acquisition.
-
Q2 2024:
- Post-launch, continuously optimize the platform based on user feedback and trading data.
- Focus on expanding Alfred Capital’s features and capabilities within the GMX ecosystem.
Audit History:
Alfred Capital is gearing up for its first comprehensive security audits in January 2024. This will be complete package offered to Alfred Capital by CertiK, ensuring security and reliability.
SECTION 5: DATA AND REPORTING
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
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