[OPEN GRANT APPLICATION] SafeYields DAO

[FilipeLeonor]

SECTION 1: APPLICANT INFORMATION

Applicant Name: Filipe Leonor

Project Name: SafeYields DAO

Project Description: A decentralized one-click solution for AI powered trading on GMX and automated DeFi strategies

Team Members and Qualifications:

Team

Filipe L. (Founder) - Entrepreneur, Decentralized Foundation co-Founder and DeFi investor since 2016, leading teams for 10+ years and business owner since 2018.

Alexander I. (Solidity Developer) - Passionate DeFi builder. Experience in Smart Contracts since 2016, Gas optimizations, Scripts (BOT) and security vulnerabilities.

Mark S. (Community & Communication) - Crypto veteran and a people person with a passion for creative writing, which ultimately led to the path of community and project management within the crypto space.

Carlos C. (Frontend Developer) - Software developer with experience in frontend since 2019, backend and mobile applications.

Talissa F. (UI/UX & Branding) - Experienced UI/UX designer, having been involved in projects for major European companies.

Advisors

Bogdan I. (Fintech) - Co-Founder and CEO of AlphaCube. Building AI solutions for algorithmic trading. 12 years as a quantitative researcher and AI/ML engineer.

Diogo C. (Legal) - Founder of DPC - Legal Services and registered with the Portuguese Bar Association, focuses his activity on the areas of Web 3.0 & Fintech.

Dima I. (Strategy) - Building digital companies since 2014. Founder with 2 exits. Ex-Managing Partner at NEAR Ecosystem VC Fund. Advisor in Strategy, Product, Growth, and Fundraising.

Project Links:

Landing Page: www.safeyields.io

Teaser Deck: https://safeyields.io/safeyields_teaser_deck.pdf

Whitepaper: https://safeyields.io/safeyields_whitepaper.pdf

Github: Safe Yields · GitHub

X: https://x.com/SafeYields

LinkedIn: LinkedIn Login, Sign in | LinkedIn

Contact Information:

TG: FilipeLeonor

Twitter: @safeyields

Email: filipe.leonor@safeyields.io

SECTION 2: GRANT INFORMATION

Requested Grant Size:
100.000 $ARB from Open Grants

Grant Breakdown:

• 42.000$ to integrate Emma AI trading technology on GMXv2
• 31.000$ for smart contract development and integration on GMXv2
• 27.000$ for smart contract audit by Three Sigma

Funding Address: 0xb7eCbD7262a9250A44EaA040A2B2a184536F3861

Funding Address Characteristics: GnosisSafe Multisig ¾ on Arbitrum

SECTION 3: GRANT OBJECTIVES AND EXECUTION

Objectives: The 100.000 $ARB granted from Open Grants will be used to integrate our already live technology Emma AI trading on GMXv2, set to be available to the public by the end of Q1 2024 which aims to reach 15M TVL by the end of 2024, bringing not only TVL for GMXv2 but generating around 720.000$/year in GMXv2 trading fees.

Key Performance Indicators (KPIs):

Dec 2023: Smart contract upgraded and integrated with GMXv2, ready to host Emma AI trading.

Jan 2024: Emma AI integrated on GMXv2 and Alpha-testing finished. Smart Contract is audited by Three Sigma

Feb 2024: Initial liquidity of 100.000$ is opened on GMXv2 for an Emma AI strategy portfolio, using BTC-ETH-LTC.

Mar 2024: Beta-testing finished.

Apr 2024: Emma AI trading on GMXv2 launches to the public through SafeYields DAO dApp.

How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?:

SafeYields DAO is a one-click solution for AI powered trading on GMXv2 and automated DeFi strategies, the protocol focuses on providing simple solutions from the most casual to experienced users not only for web3 but web2 crypto enthusiasts.

The protocol is set to make Emma AI available by the end of Q1 2024 on our dApp, users will be able to stake their tokens and take advantage of our technology in a fully decentralized way through GMXv2, ultimately bringing new users to GMXv2 and generating more trading fees as SafeYields DAO scales.

Here are some metrics on how much GMXv2 trading fees are generated from integrating one of Emma AI strategy portfolios:

Justification for the size of the grant:

• 42.000$ for Emma AI trading technology to be integrated for GMXv2
  • 1 Senior AI/Machine Learning engineer (18.000$)
  • 2 Java developers (22.000$)
  • 1 Server allocation (2.000$)
• 31.000$ for smart contract development and integration on GMXv2
  • 2 Senior Solidity developers (25.000$)
  • 1 Frontend developer (6.000$)
• 27.000$ for smart contract audit by Three Sigma

Grant Timeline: 100.000 $ARB from Open Grant to be granted upfront or divided in two tranches: one upfront (36.500$) allowing SafeYields to start the integration process and (63.500$) in December 2023 to finish integrations and start the audit with Three Sigma.

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?: Still integrating our technology on GMX, although we have been live on Arbitrum since March 2023

Protocol Performance:

SafeYields DAO has raised around 80.000$ through X campaigns which allowed us to keep building and testing our mvp Emma AI for early users in the past 8 months. SafeYields DAO has also been organically gaining traction, having 80 active wallets, 600 Discord users, 1700 X followers.

We’ve granted early access to Emma AI for NFT holders and have been distributing rewards since April 2023.

Protocol Roadmap: The road map can be seen in detail in our Whitepaper, however here are some high level milestones for 2024:

Q1 2024

• Emma AI is integrated on GMXv2 and available to the public through SafeYields DAO dApp;
• Emma DeFi Automated Strategies for Concentrated liquidity and looping go live;
• Audit with Three Sigma to protect users against smart contract exploits;
• Legal liability on a global scale to protect the protocol and users in the long term, becoming a fully decentralized entity.

Q2 2024

• Particle network wallet integration (DeFi wallet generation and login using socials account);
• Ramp network on/off ramp fiat/crypto solution, allowing users to deposit and withdraw assets with credit/debit card, google pay, apple pay and SEPA transfer
• Emma AI is able to chat about anything crypto related and generate personal portfolios according to the user’s risk appetite, becoming a true all around one-click solution.

Q3/Q4 2024

• Scale the protocol to a minimum of 15M TVL

Audit History (if any): DefiMoon - https://www.safeyields.io/safeyields_audit.pdf

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

[KJS_SafeYields]

Mark from SafeYields here.
Ready to answer any and all questions regarding the proposal.

[Saurabh]

Hey @FilipeLeonor, thank you for submitting your application for GMX DAO Grants. The team will start reviewing your application shortly. If you can share your Telegram for faster communication, it will be great.

[FilipeLeonor]

Hi @Saurabh as per our call here is the info:

Milestone and Timeline table

For our protocol performance please refer to the graph from our original proposal, if you’re looking for Emma AI trading specifically here are our results from our Binance account which is where the tech has been tested:

5Y Performance

1Y Performance

3Mo Performance

Binance beta account PnL (last 3mo)

I’ll also leave here a reference on how fast our tech actually evolves and is constantly adapting to new market conditions with updated portfolios:

Hope this helps, let us know if there is any other info you need.
Thanks!

[Saurabh]

Thanks appreciate your response!

[Saurabh]

Unfortunately, we have to reject the application for the Type of innovative protocol we want to build on GMX. The project is still in its initial stages we cannot support the project.

[FilipeLeonor]

Thanks for getting the time to analyze it, we are wondering if there’s any other chance for us to discuss SafeYields DAO with the committee?

We are dedicated to continuing our work and expansion on GMX and are keen on aligning our project with the grants program’s expectations. We understand our application was not successful this time, and we believe that your feedback is invaluable for our growth and improvement.

Could you please provide us with more detailed feedback on the areas of our application that could be improved? Additionally, we would appreciate any specific guidelines or criteria we should focus on for future submissions.

We are also interested in understanding the timeline for resubmission. Knowing the review cycle would greatly assist us in preparing a revised application that meets your standards.

We are committed to making the necessary improvements and look forward to the possibility of resubmitting our grant application.

Thank you for your time,

Filipe Leonor

[Saurabh]

Hey FilipeLeonor,

Thanks for getting back. One of our team members from the ecosystem team will reach out to you and provide detailed feedback on the GMX STIP proposal you recently submitted.