SECTION 1: APPLICANT INFORMATION
Applicant Name: sm0le
Project Name: Modular Wallet
Project Description: Modular is a self-custodial mobile wallet with modular framework, built natively on Arbitrum and powered by the MOD token.
Team Members and Qualifications:
sm0le - BSc. Telecom Engineering - Project Lead
m0nkey patcher - BSc. Computer Engineering - Smart Contract Dev
TheSwissAlpaca - Industrial Engineer - UX/UI Lead
0xQuokka - Dev at Core - Sr. React Native Dev
z3nd4 - Social Media Manager
- Website: https://modular.pk
- Twitter: https://twitter.com/modular_wallet
- Telegram: Telegram: Contact @ModularW
- Dune: https://dune.com/0xpibs/modular-wallet
SECTION 2: GRANT INFORMATION
Requested Grant Size: 100K ARB
Grant Matching: The Modular Team will match ARB incentives with its own native token (MOD) within app features.
Grant Breakdown: The GMX-STIP ARB incentives allocated for Modular will be mostly distributed alongside users that interact with our mobile wallet using the Arbitrum Blockchain. Among many things, users are able to send, receive, swap and invest their Arbitrum tokens on one-tap, in a completely decentralized way.
On the other hand, a second audit will be done particularly on the new GMX V2 module.
Funding Address: 0x073d2Bc41C7aF3Ca6E310C14AcE603Ff445bAe9a
Funding Address Characteristics: 2/3 multisig with private keys securely stored
Distribution Contract Address: ModularRouter Address - 0xb1c1d392e36ed339d1cc67f9fefb390098b08e72
Incentivised Contract Addresses: ModularRouter Address - 0xb1c1d392e36ed339d1cc67f9fefb390098b08e72
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Objectives: This grant will be used to incentivize user adoption and retention in the Arbitrum ecosystem. In the particular case of the GMX Margin Trading Module - which is currently live and working - users will be able to trade and receive their trading fees and gas rebates back in ARB. In that way, current and new users will find it more appealing to start trading in a self-custodial way. Moreover, a GMX v2 integration will be done before the Arbitrum STIP timeframe period ends.
Key Performance Indicators (KPIs):
|Incentivize users to download Modular Wallet and start trading within GMX Module, granting fees and rebates back in ARB.
|10 to 15K new active wallets created
|Amount of volume transacted over features. Particularly, GMX.
|Completed with major security risks
How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?:
As an Arbitrum native mobile app, Modular allows newer and more experienced users to start using dApps in a native way, using a simple UI. One of the most noticeable examples is the GMX Margin Trading which is currently live on both Android and App Stores (TestFlight).
If Modular gets grant funding allocation, 100% of the ARB tokens are going directly to users that are interacting with the Arbitrum Network on a daily basis. In that sense, users are being incentivized to use Arbitrum, which enables organic growth.
Justification for the size of the grant:
We believe our grant request is reasonable at this stage of our product. The Modular team has been building for several projects on the Arbitrum ecosystem without having any particular incentives for the last 12 months, specially using the GMX stack. Moreover, we believe incentivizing users with ARB tokens will foster new ways of network adoption, using 100% of the funds for distributing among users and their security.
Execution Strategy: If ARB funds are allocated to Modular Wallet, we will immediately start:
|Deploying and boosting incentives on the GMX-V1 Margin Trading Module for existing and new users.
|20k ARB to onboard at least 10k new unique wallets to Modular Wallet
|Development and update of GMX-V2 mobile
|40k ARB to incentivize and boost traders who Open/Close positions using GMX-V2 Module
|Security Audit for current and new developments.
|25k ARB for top-tier firm to secure mobile app as a whole.
15k ARB allocated for external bounties.
In order to reach top-tier mobile security.|
Modular will cover all the costs of running, optimizing and reporting on all the campaigns.
- December: ARB incentives for current features such as GMX-V1 for existing and new users.
- January: GMX-V2 closed beta with incentives for whitelisted addresses.
- February: Final Audit + Public Release of GMX-V2.
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
What date did you build on GMX?: February 2023
Protocol Performance: Since Modular Wallet went live on Arbitrum we’ve reached the following milestones:
Over 5K unique wallets created on Modular App
More than 4M traded volume within the app (both Modular Router and GMX Volume)
More than half a million USDC deployed on our launchpad (IWO)
All the relevant information can be found within our Modular Wallet Dashboard.
GMX V2 Development
On/Off Ramp for FIAT
Security Audit publication
GMX V2 Feature Public Release
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