[OPEN GRANT APPLICATION] GMX <> Tortle Ninja

Grants
1

SECTION 1: APPLICANT INFORMATION

Applicant Name: Javi B.

Project Name: Tortle Ninja

Project Description: Tortle Ninja revolutionizes DeFi investments with a pioneering visual programming language. Our platform empowers users to devise, execute, and refine investment strategies using intuitive logic and data-driven insights. Launched in June 2021, Tortle Ninja has evolved into a dynamic ecosystem, enabling seamless exploration and innovation in DeFi. Our integration with GMX stands out, offering users tools to automate and strategize their investments through a user-friendly visual interface.

Team Dynamics: Our 12-member team, drawing from a decade-long collaboration at Glue Digital, brings a wealth of experience in security, cryptography, and software development. Esteemed clients like eBay, Securitas, and Carrefour have trusted our expertise. Our contributions to notable projects and recognitions from Laus Awards and the German Design Council underscore our commitment to excellence.

More Information: LinkedIn Profile

Contact Information:

  • TG: Javibth
  • Twitter: @tortle_ninja

SECTION 2: GRANT INFORMATION

Requested Grant Size: 100,000 ARB

Grant Matching: 153,000 TORTLE

Grant Utilization Plan:

  1. GMX V2 Integration: Upgrading Tortle to seamlessly interact with GMX V2.
  2. Educational Outreach: Producing engaging content to demystify DeFi strategies, complemented by a comprehensive marketing campaign.
  3. Futures Trading Competition: A promotional event to showcase the capabilities of our platform, focusing on derivatives and GMX.

Funding Allocation: The grant will bolster our runway, enabling us to focus on product development. We plan to inject the funds into bootstrapping liquidity on GMX’s preferred DEX and pairing it with Tortle tokens, ensuring a robust ARB/TORTLE liquidity pool. This strategic move, managed by a reputable third party, will fortify our position in the DeFi landscape.

SECTION 3: GRANT OBJECTIVES AND EXECUTION

  • Milestone 1 Completion: January 31st, 2024
  • Milestones 2 and 3 Completion: Q1 2024, no later than March 31st, 2024

SECTION 4: PROTOCOL DETAILS

GMX Integration Date: May 2023

Resources:

SECTION 5: DATA AND REPORTING

To maintain transparency and track progress, we will issue bi-weekly progress logs aligned with our development sprints. Additionally, a comprehensive Dune Board will be created, showcasing key performance indicators like daily user metrics, volume, active strategies, and Total Value Locked (TVL).

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Hey @Javi_TortleNinja, Thanks for applying for the GMX grants the team will shortly start reviewing your application.

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Thanks, consider it an open document, any ideas, suggestions are totally welcomed

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Hi, thank you for the proposal.

  1. GMX V2 Integration: Upgrading Tortle to seamlessly interact with GMX V2.

Can you go into more detail about what the ARB allocation would be used for? It is unclear if the funds will be used as direct on-chain incentives or if they will be used for funds to build. Also could you describe what the integration would look like?

  1. Educational Outreach: Producing engaging content to demystify DeFi strategies, complemented by a comprehensive marketing campaign.

Can you explain more what you mean by this? Seems more broadly related to DeFi then GMX V2.

  1. Futures Trading Competition: A promotional event to showcase the capabilities of our platform, focusing on derivatives and GMX.

How much of the allocation would be used for these?

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We plan to use the ARB allocation primarily for payroll expenses. With Tortle gearing up for a token launch, we aim to allocate our existing funds towards further development. And use the grant to have liquidity on a DEX, in this way we can focus our current runway on development, rather than on launch costs.

A key aspect of our plan involves the integration with V2, which will be graphically represented as shown in the attached image. This integration is pivotal as Tortle introduces a logical layer over GMX positions, enabling users to automate their investment strategies effortlessly.

Captura de Pantalla 2023-11-22 a las 20.24.14
Captura de Pantalla 2023-11-22 a las 20.24.141296×845 97.5 KB

In the realm of content production, our team consistently generates informative materials. Our recent video (linked here: (https://www.youtube.com/watch?v=NbpMu4j1-pA)) is a testament to our commitment to educating our community. We aim to delve deeper into the nuances of Derivatives and GMX, and how they can be effectively combined with Tortle’s offerings. This initiative is geared towards empowering our community with advanced knowledge and skills for operating with derivatives.

Regarding point 3, while it is not entirely finalized, we are exploring the possibility of hosting a series of competitions. These competitions would focus on strategies related to perpetual contracts, with a total prize pool of $30K. This initiative is expected to engage our community actively and foster a deeper understanding of the practical applications of our platform.

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thanks for your grant application!

i think one major area of concern is a lack of specification of the deployment of funds; what amount or % is being dedicated to onchain activity vs funding the team directly, and other applications (trading comp) would go a long way in building confidence for this proposal

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Hello, let me clarify and ammend the Funding allocation part:

We will finally request 95,000.00 ARB and add 256,000.00 TORTLEs from our treasury.

  • 95,000.00 ARB and 156,000.00 TORTLEs will be allocated to a Liquidity Pool in one of the top Arbitrum DEXs, preferably Camelot, to create deep liquidity. This liquidity will be renounced by the Tortle team and cannot be withdrawn.
  • 50,000.00 TORTLEs will be allocated as rewards for users in several trading competitions, scheduled for launch in Q1/Q2 2024. These competitions will focus exclusively on strategies using GMX.
  • 50,000.00 TORTLEs will be airdropped to all our early users who create, share, or execute strategies related to GMX, with the launch also planned for Q1/Q2 2024.
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Hello Tortle Team,

We want to thank you for applying to the GMX grants program. The window for applications has recently closed. In the interest of clarity, and to ensure continued lines of collaboration, we want to notify that your grant did not muster full support from the community to move on to approval. Such developments tied only to the STIP grant program are not the end of GMX working with you all. We understand that the opportunity presented by the grants program might have left you in the middle of some developments - we are more than happy to find other ways outside the grants program to see these developments through to a productive end, or to adjust scope accordingly in the interest of such ends.

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