Abstract
KnightSafe is seeking 100,000 ARB to drive the trading volume and the adoption of GMX V2. The primary objectives of KnightSafe’s grant application are to enhance user engagement on the GMX platform, provide a secured management platform to participate in GM pool, and contribute to the overall growth and adoption of the GMX ecosystem.
Section 1: Applicant Information
Provide personal or organizational details, including applicant name, contact information, and any associated organization. This information ensures proper identification and communication throughout the grant process.
Applicant Name or Alias: KnightSafe
Project Name: KnightSafe
Project Description:
KnightSafe is a non-custodial smart contract management platform. As an open-source and decentralized digital asset self-custody service, KnightSafe is specifically designed to address the need for seamless interaction with DeFi protocols under customizable role-based access controls, and custody issues faced in traditional digital asset management. It is served as the managed account platform for traders to trade on GMX for clients and/or for themselves.
Team Members and Qualifications:
Development Team:
Our team consists of five full-time developers proficient in front-end, back-end, and smart contract development. Our tech management team who used to manage a team of 200, equipping with over ten years’ experience in general-purpose programming languages as well as in solidity, is the perfect candidate to lead the development of KnightSafe.
Business Development Team
Our team members are from senior positions from different backgrounds, including hedge funds, crypto funds, investment banks, and asset management, with a solid track record in developing DeFi protocols and product development.
Project Links:
Website: https://www.knightsafe.io
Twitter: https://twitter.com/KnightSafeTeam
GitHub: Knight Safe · GitHub
Contact Information:
Twitter: @KnightSafeTeam
Email: support@knightsafe.io
Section 2: Grant Information
Requested Grant Size: 100,000 $ARB
Grant Matching: N/A
Grant Breakdown:
[Please provide a high-level overview and pro forma of the budget breakdown and planned use of funds]
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100% of the grant will be used to incentivize the trading (including mints and redeems) volume on GMX v2.
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The grant will be distributed across 12 weeks, with equal portions each week. Traders will get a volume-weighted average portion of the $ARB rewards based on the volume they traded on GMX v2 through KnightSafe.
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The grant is designed to attract at least an additional $5 million to GM pools, and additional $15 million trading by providing extra incentives for the trading on GMX v2.
The full grant will be used to incentivize GM pools that are currently integrated on KnightSafe and incentivize traders and institutional clients who have GMX v1 positions to migrate and trade in GM pools.
Funding Address:
TBD.
Funding Address Characteristics:
2/3 multisig SAFE wallet. Each private key is held by core team member and is securely stored.
Distribution Contract Address:
TBD.
Incentivised Contract Addresses:
TBD.
Section 3: Grant Objectives and Execution
Objective:
- Attract new traders and institutional clients to KnightSafe to participate in GM pool and facilitate adoption of the GMX ecosystem;
- Incentivize existing KnightSafe users who have GMX v1 positions to migrate and trade in GM pools; and
- Increase trading volume and TVL for at least an additional $5 million by providing extra incentives for the trading on GMX v2.
Key Performance Indicators (KPIs):
| KPI | Description | Target |
|---|---|---|
| TVL in GM Leverage Vault | Measures the total inflow of capital into GM pools | $5 million+ |
| Total Trading, Mints, Redeems Volumes | Measures the trading volumes of new users attracted by the program | $15 million+ |
| Number of unique addresses | Measures the number of new users attracted by the program | 100+ |
How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?:
With this grant, we aim to attract at least an additional $5 million TVL to GMX through KnightSafe which will be done by incentivizing the trading, mints and redeems in GMX v2.
This initiative will significantly benefit the GMX ecosystem by attracting more institutional clients and traders equipped with non-custodial smart contract management platform.
There are numerous traders who are running their market neutral strategy on GMX through KnightSafe, by offering additional $ARB incentives, we would expect meaningful capital inflow from traditional clients will be lured to earn the attractive yield and participate in GMX v2. Investors who are risk averse could leverage KnightSafe to avoid counterparty risk while earning the attractive returns from GMX related strategies. The extra $ARB incentive serves as an additional layer of encouragement to traders to explore further on GMX ecosystem.
Furthermore, with our endless efforts in building KnightSafe a better platform for traders and institutional clients, the grants would enhance our business development ability and continue to contribute significantly to the GMX ecosystem.
Justification for the size of the grant:
The funding is pivotal for the development of our KnightSafe protocol by incentivizing traders to engage in GMX ecosystem through KnightSafe. The requested grant size is justified by the meaningful Total Value Locked (TVL) and the trading volumes the existing traders contributed.
Execution Strategy:
- The grant will be distributed across 12 weeks, with equal portions each week. Traders will get a volume-weighted average portion of the $ARB rewards based on the volume they traded, minted, and redeemed on GMX v2 through KnightSafe.
- KnightSafe will claim the funding each week from the third-party protocol (subject to the distribution method that GMX opts for), and transfer the $ARB amount to the claim contract weekly.
- Users could then claim their eligible amount which is based on their volumes weekly from the contract.
Grant Timeline:
Start date: TBA (Depending on the approval date by the Grant Committee)
Duration: 12 weeks
Claiming period: From the start date until 2024-03-31, and subject to adjustment after the start date confirmation.
Fund Streaming:
Yes we accept the terms.
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?:
September 2023.
Protocol Performance:
KnightSafe TVL: $20 million
KnightSafe on GMX v1:
Total Trading, Mints, Redeems Volume: $100 million+
Some of our KnightSafe users addresses:
0xD00F2c96C07b35AC6269ED87308e98cb44Aae74f
0x8d77fa0058335CE7dA21F421fA5154feeB0aBFdE
0x29fb2fb5d567e8173f393861ce9c62e07d5e65d0
0x7ab4a8f775dcb88476f9322f2d273e966dc9a146
0x34612ddd3fd27d4762c856e585d5b08d705775aa
0xf27B28b8434fC345BE47a6e8dD0a5F936E45c859
0xf13891426ECC002D9B3c9C293bCc176E3CEB04E7
0x612d615b65a87c1e8cabe1947462cba33df93ff6
Audit History:
N/A
Protocol Roadmap:
Phase 1 (Q3 – Q4 2023)
- KnightSafe Wallet launched
- KnightSafe supports
Phase 2 (Q1 – Q2 2024)
- KnightSafe Analytics launch
- KnightSafe Administration launch
- Smart contract audits
Phase 3 (Q2 – Q3 2024)
- KnightSafe Marketplace launch
- Release transaction authorization policy integration for KnightSafe Wallet
- Extend KnightSafe compatibility to non-EVM chains
Phase 4 (Q3 – Q4 2024)
- KnightSafe mobile app launch
- Release customizable analytics and dashboards for KnightSafe Analytics
- Release Automated Trading SDK
Phase 5 (2025 & beyond)
- Release programmable security rules and advanced policy engine optimization for KnightSafe Wallet
- Gas / storage optimization
- Partnership for KnightSafe Marketplace and ecosystem expansion
Section 5: Data and Reporting
Is your team prepared to create Dune Spells and/or Dashboards for your incentive program?:
Yes, we will create the Dune Spell reporting the TVL, trading, mints and redeems volumes through our analytics dashboard.
Does your team agree to provide bi-weekly program updates on the GMX Forum thread?:
Yes, we agree.
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.