SECTION 1: APPLICANT INFORMATION
Applicant Name: Cameron Conrad
Project Name: Torque
Project Description: An automation protocol to streamline saving. It unifies the finest, non-custodial yield and loan opportunities to satisfy the key components of wealth generation while reducing friction, increasing transparency, and guaranteeing self-custody.
Team Members and Qualifications:
Project Links:
Contact Information:
SECTION 2: GRANT INFORMATION
Requested Grant Size: 75,000 ARB
Grant Breakdown:
- 20% (15,000) to acquire additional audits
- 80% (60,000) to enable liquidity incentives
Funding Address: 0x177f6519A523EEbb542aed20320EFF9401bC47d0
Funding Address Characteristics: 2/3 multisig via SAFE smart account
Distribution Contract Address: A modified version of our RewardUtil (to be updated)
Incentivised Contract Addresses: To be updated at completion of additional audits
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Objective:
- Improve security/further confidence through additional audits
- Increase total value routed through Torque’s Boost product
Key Performance Indicators (KPIs):
-
Security audit KPIs
– Pass SourceHat/Secure3
– Address all findings -
Increase TVR KPIs
– Achieve $250k TVR
– Achieve $500k TVR
How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?: Receiving this grant will enable Torque’s Boost product to become more attractive to savers. This, in turn, will empower Torque to drive increased adoption of V2 GM pools.
Justification for the size of the grant: Torque has high potential to attract significant liquidity due it catering not only to crypto natives, but also to the crypto curious with idle assets on CEXs/in cold storage who are interested to save and earn onchain.
Execution Strategy: We have received quotes from the specified auditors and are ready to proceed upon acceptance. Once passed, we’ll finalize CAs and kick off the campaign, which should be spread out over an estimated period of 60-90 days.
We’ll assess impact and adjust rates accordingly every other week.
Grant Timeline:
- 20% released post acceptance/approval
- 40% released upon achieving $250k TVR
- 40% released upon achieving $500k TVR
SECTION 4: PROTOCOL DETAILS
What date did you build on GMX?: March 20th, 2024
Protocol Performance: Not meaningful yet. With the foundation laid, we’re now prepared to dedicate great energy on the product distribution side. Becoming competitive with ARB incentives ensures that Torque’s proposition is attractive.
Protocol Roadmap: At this time, the only officially remaining item in Torque’s roadmap is the Torque SDK currently under development. Additional assets become supported periodically and community governance should drive the protocol forward.
Audit History: Listed here and contract addresses listed here. Just before our March 20th release, we held a security competition and addressed findings at this PR.
SECTION 5: Data and Reporting
Is your team prepared to create Dune Spells and/or Dashboards for your incentive program?: Yes, a detailed dashboard will be provided.
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