GMX GRANT PROPOSAL
Applicant Name or Alias:
Fluid is enhancing cryptocurrency trading efficiency through our Integration of GMX on social networks such as Telegram. Fluid aims to streamline the trading process, reduce financial risks, and foster community engagement by integrating with GMX, a leading decentralized trading platform.
This integration seeks to address the inefficiencies of traditional crypto trading interfaces. Our first product is a Telegram based trading bot that has integrated GMX V2 to reach over 700 million Telegram users worldwide. We are the first to integrate V2 liquidity into an easy to use TG bot.
A few of the already implemented features include:
- Quick Trades
- Create and save trades for later use, great for times when every second counts
- Quick trades can be executed in under 15 seconds
- Market and Limit order execution
- Easily open a new position directly from the bot under 30 seconds
- Easily set a stop loss and / or take profit for each open position
- Order and Liquidation Notifications
- Get notifications when orders and liquidations have been triggered
- PnL Referral Cards
- Each open position can be shared via our PnL cards that users can generate for each of their positions
Team Members and Qualifications:
Liquid Legend - Development - Co-founder
Backend developer specializing in smart contracts and Python, with over seven years in the crypto space and six years in blockchain development. Has effectively advised multiple projects, invested in various blockchain startups, and built an extensive network of industry experts.
Alpha Perpetua - Development - Co-founder
Experienced business manager with 8 years in the field, coupled with 7 years of expertise in crypto and blockchain development. Has a track record of providing valuable guidance to numerous projects, investing in blockchain startups, and establishing a wide-ranging network of industry experts.
Jay - Business Development - Co-founder
Has a decade of experience in the cryptocurrency industry, with a track record of being an early-round investor at the venture firm level. Over the past six years, he has served as an advisor to multiple projects, specializing in business development and market growth. Bringing a wealth of knowledge and insights to the table.
Uosof Ahmadi - Marketing Manager - Core Contributor
Marketing expert with over 10 years experience that has worked with over 30 global brands as a self titled creator exceeding a billion views across all platforms. Held CMO/BD/Advisory positions for over 6 years in the crypto space working with dozens of startups and crypto unicorns.
Jesse - Marketing Manager - Core Contributor
Marketing Manager with a strong background in software lifecycle management, business analysis, and BPR. With 3 years of subject matter expertise and 6 years of experience in reengineering processes, he has successfully collaborated with global clients in sales, HR, and client delivery and advisory on multiple software projects.
- Documentation: Fluid Documentation
- Website: Fluid
- Telegram: Fluid Trading Portal
- Twitter: FluidToken
- Medium: FluidTrade on Medium
- Fluid GMX V2 Telegram Bot: FluidGMXBot
- Twitter: @fluidtoken
- Email: firstname.lastname@example.org
Requested Grant Size:
- Supplementing Trading Contests:
- We will run monthly trading contests and will match ARB rewards with ETH from our own treasury.
- Supplementing Trading Contests and Fee Reimbursement: 60k Arbitrum
- We will run monthly trading contests and will match ARB rewards with ETH from our own treasury. We plan to analyze the viability of tracking and reimbursement of trading fees to our users. Research is still ongoing atm for fee reimbursement.
- Development: 15k Arbitrum
- These funds will go to further develop our initial product which is live and already sending volume to GMX V2.
- Marketing / User Acquisition: 15k Arbitrum
- We will be using this to fund marketing strategies to promote greater adoption of our GMX V2 based trading bot. They will range from more traditional Web2 marketing strategies to purely Web3 focused marketing.
- Security / Audits / Testing: 10k Arbitrum
- These funds will be used to help pay for any necessary audits going forward as well as ongoing research into more complex security methods such as Account Abstraction.
Funding Address Characteristics:
2/3 gnosis safe multisig via hardware wallets from 3 core team members in 3 different geographic locations.
Distribution Contract Address:
Incentivized Contract Addresses:
GRANT OBJECTIVES AND EXECUTION
GMX Integration and Fluid’s Strategic Focus:
Streamlining the Trading Process
- Objective: Enhance user experience by making trading more intuitive, efficient, and responsive.
- Implement cutting-edge technologies and user-friendly interfaces to simplify trading actions.
Incentivizing Community Engagement
- Objective: Foster a dynamic and involved community around our platform.
- Implement engagement programs such as rewards, trading contests, interactive forums, and feedback channels to keep the community active and invested.
Enhancing Accessibility through GMX Integration
- Objective: Make our trading platform more accessible and user-friendly.
- Integrate seamlessly with GMX, offering an intuitive interface and streamlined trading experience.
Directing Volume to GMX V2 Pools
- Goal: Channel significant trading volume into GMX V2 pools.
- Creation of Fees: The increased volume in V2 pools generates more fees.
- Reinvestment for Growth: These fees are reinvested to spur growth within the GMX ecosystem.
- Value to GMX: This strategy provides direct value to GMX by ensuring consistent trading volume.
Key Performance Indicators (KPIs):
- Month 1 Targets:
- Weekly Average Volume: Achieve a weekly average volume of $5 million to $10 million.
- User Engagement: Attract and engage a significant number of users in the initial month.
- Target: 500 total users
- Explanation: In the first month, our focus is on establishing a strong foundation for our project by achieving a substantial weekly average volume of financial activity. Additionally, we aim to attract a substantial user base to the platform.
- Month 2 Targets:
- Weekly Average Volume: Increase the weekly average volume to a range of $10 million to $20 million.
- User Growth: Expand the user base significantly.
- Target: 500-2500 total users
- Explanation: In the second month, we aim to build upon the initial success by doubling the weekly average volume while continuing to attract more users to our platform.
- Month 3 Targets:
- Weekly Average Volume: Exceed $20 million in weekly average volume.
- User Expansion: Continue the growth trend and achieve a substantial increase in the number of users.
- Target: 2500-5000 total users
Summary of KPIs:
By the third month, our goal is to surpass the $20 million weekly average volume mark, demonstrating sustained growth and stability. Concurrently, we will actively work on expanding our user base.
These KPIs provide a clear picture of our project’s progress and growth over the next three months. They are concise, measurable, and align with the objectives of the grant proposal.
Justification for the size of the grant:
The full 100k ARB grant is justified based on the development, testing, and marketing needs for successful integration and addition of new features.
Please refer to the Objective, KPIs and Roadmap sections.
Our intuitives are planned to extend the full length of the STIP program (Jan 31st or longer if STIP program is extended).
We accept the funding of our grant to be streamed linearly for the duration of the grant proposal.
Testnet Launch on GMX:
October 16th, 2023
Mainnet Launch on GMX:
November 15th, 2023
Since the launch of the Mainnet product, we have generated over $1.5 mil in volume towards GMX V2. That has been within less than a week as of time of this writing.
Q3-Q4 2023 Achievements: Successfully completed all KPIs for this period. Key developments include:
- Launch of the Telegram GMX V2 Perpetuals Bot, marking our emergence from stealth mode.
- Initiation of fundraising and affiliate partner programs, laying the groundwork for future growth.
- Seamless Quick Trades Feature: A revolutionary feature allowing users to execute leveraged trades within seconds through Telegram. This ensures real-time market responsiveness, a critical advantage in volatile trading environments.
- Enhanced Security Features: Implemented advanced security protocols to safeguard user accounts, transactions and data.
- Revenue-Sharing Plan: Introducing a revenue-sharing model to incentivize and reward our user community.
Q1-Q3 2024 Roadmap:
- Trading Options Expansion: Broadening our trading services to all supported pairs and swaps.
- Marketing Push: Implementing a comprehensive marketing strategy to enhance visibility and user acquisition.
- Advanced Community Engagement: Engaging more deeply with our user base to foster community growth.
- DeFi Integrations: Incorporating decentralized finance elements to enhance our service offerings.
- Integration of V2 Liquidity Stats: To provide users with enhanced insights into liquidity metrics.
- Integration of V2 Open Interest (OI) Stats: Offering detailed open interest statistics for better trading decision-making.
- User Profit and Loss (PnL) History Stats Integration: Enabling users to track their trading performance over time.
- Addition of Remaining V2 Pools: Expanding our pool offerings to include all V2 pools.
- V2 Pool Swaps Addition: Introducing the ability to swap between different V2 pools for greater flexibility.
- Integration of GMX V2 leaderboard (Fluid bot and native GMX positions)
Audit History (if any):
We are currently utilizing GMX’s audited smart contracts to ensure immediate security and compliance. We are committed to conducting further audits for significant future updates to maintain high security standards. This approach reflects our dedication to user safety and platform integrity within the DeFi ecosystem.
DATA AND REPORTING
Is your team prepared to create Dune Spells and/or Dashboards for your incentive program?:
Does your team agree to provide bi-weekly program updates on the GMX Forum thread?:
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?: