SECTION 1: APPLICANT INFORMATION
Applicant Name: Wing
Project Name: Tradao
Project Description: Tradao is a Web3 Derivatives Portfolio Tracker that empowers traders with a comprehensive toolset and an innovative incentive system.
Team Members and Qualifications:
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Long (Product Manager)
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Samuel (Full Stack Developer)
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Patrick (Frontend Developer)
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Wing (Operations)
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Wan (UI/UX)
Project Links:
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Twitter: https://twitter.com/Tradaoperp
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Telegram: Telegram: Contact @tradaoperp
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TG Bot: Telegram: Contact @TradaoBot
Contact Information:
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TG: wingperp
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Email: wing@tradao.xyz
SECTION 2: GRANT INFORMATION
Requested Grant Size: 100k $ARB
Grant Matching: N/A
Grant Breakdown:
| Grant Breakdown | |||
|---|---|---|---|
| Subject | Details | Grant Allocation | Status |
| Trader Profolio Tracking | Integrate with GMXv1 & v2, users can check the status of the GMX trader by entering their address or on the Tradao homepage. The data including PnL, ROI, trading record, no. of trades, etc. | 10k $ARB | Completed |
| On-chain Data Dashboard | Integrate with GMXv1 & v2, users can check different aspect data of GMX, including OI, trading volume, liquidation level, liquidation amount of position and collateral, no. of liquidated traders, etc | 10k $ARB | Completed |
| Telegram Bot | Help users to check and track the trader status on telegram easily. Provide top trader ranking, trader tracking, whale alert of open/close and upcoming/liquidated position, etc | 10k $ARB | Completed |
| Copy-Trading | Beginners-friendly. Follow, copy, automate, and earn by copying the trades from GMX top traders based on their real-time PnL. | 20k $ARB | Processing |
| Audit | Reach out to popular and trusted audit firm to make sure the safety | 20k $ARB | Pending (To be started when copy-trading done) |
| Marketing | For holding different marketing campaign and reward the users, like trading competition, fee rebates, etc. | 30k $ARB | Pending (To be started when copy-trading done) |
Funding Address: 0x9aAb7A39e7e022666283454fbd0769F93D1e1d4e
Funding Address Characteristics: 2/3 multisig SAFE wallet with each key held by a core team member
Distribution Contract Address: 0x9aAb7A39e7e022666283454fbd0769F93D1e1d4e
Incentivised Contract Addresses: N/A atm
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Objectives:
The primary objectives of Tradao’s grant application are to enhance user engagement on the GMX platform, provide a suite of tools for effective derivatives portfolio tracking, and contribute to the overall growth and security of the GMX ecosystem.
Key Performance Indicators (KPIs):
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Transaction Goal: Achieve 4,000 transactions per month on our platform as a direct result of our tools and services.
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Trading Volume Target: Generate a trading volume of $5 million per month, indicating robust use and reliance on our platform within the GMX ecosystem.
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Monthly Active Users (MAU): Reach 1,000 monthly active users, showcasing the demand and continuous engagement with Tradao.
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New GMX Address Acquisition: Onboard 1,000 new addresses to GMX, demonstrating our platform’s effectiveness in attracting and retaining new users.
How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?:
The grant will facilitate the development of Tradao’s upcoming features, such as the copy-trading system and integration with GMX v2, which are anticipated to drive user engagement and trading volume significantly. It will also support the audit process, ensuring the safety and reliability of the services provided.
Justification for the size of the grant:
The requested grant size is justified by the extensive development efforts required to build and maintain advanced tracking and trading tools, the cost of high-quality security audits, and robust marketing campaigns to attract and retain a significant user base.
Execution Strategy:
The grant will be strategically allocated to the completion of ongoing projects like the copy-trading feature and to commence vital new ones like the security audit and marketing campaigns. Risk management will be upheld through rigorous testing, continuous monitoring, and the implementation of the 2/3 multisig SAFE wallet for fund security.
Grant Timeline:
We propose the following timeline for the grant, with a request for an initial batch of funds to cover completed subjects:
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Immediate Release for Completed Subjects:
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Trader Portfolio Tracking: Completed. Request release of 10k $ARB.
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On-chain Data Dashboard: Completed. Request release of 10k $ARB.
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Telegram Bot: Completed. Request release of 10k $ARB.
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Ongoing and Future Developments:
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Copy-Trading: In progress, expected completion by the end of Q4 2023. Future release of 20k $ARB upon completion.
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Audit: To commence post copy-trading feature completion, with an earmarked 20k $ARB for Q4 2023.
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Marketing: To begin alongside copy-trading in Q4 2023, with a gradual release of funds leading up to 30k $ARB by Q1 2024.
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The request for the first batch of the grant is based on the completion of initial subjects which have already started delivering value to the GMX ecosystem. The subsequent releases will be aligned with the completion of remaining milestones, ensuring accountability and progress tracking.
Fund Streaming: We request the first batch of the grant funds based on the completed subjects be released upfront to sustain the momentum of the project’s success. We agree to the remainder of the grant to be streamed as per the standard GMX grant streaming policy, and we acknowledge the multisig’s discretion in this process.
SECTION 4: PROTOCOL DETAILS
What date did you build on GMX?:
We began building on GMX in April 2023 and officially launched the GMXv1 Dashboard on May 15, 2023.
Protocol Performance:
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Developed a Telegram bot added to GMX’s unofficial trading group to assist users in checking the daily top traders, liquidation position & collateral, etc on GMX.
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Over 150 addresses are using Tradao’s follow function on the website.
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Daily Active Users (DAU) count exceeds 100.
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Attracted 30+ new user addresses to GMX, contributing over $8 million in trading volume.
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First to build a funding rate dashboard for GMXv2.
Some existing functions
Trader Portfolio
Liquidation
Funding Rate
Protocol Roadmap:
2023 Q2
GMX’s Trader Portfolio Dashboard
Follow Function
Liquidation Page
2023 Q3
Mobile Version (H5)
Open Interest(OI) Page
Integration with GMX v2
Funding Rate Page
Telegram Bot for checking top trader on GMX
2023 Q4
Support customized trader tracking on Telegram bot
Integrate with domain protocol to replace the address display
Support Social Login
Copy-Trading using GMX v2
2024 Q1
Support Backtesting
Build the Mini app on Telegram
Audit History (if any): N/A
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, we agree to provide bi-weekly updates on the GMX Forum. We are already accustomed to regular updates on Twitter, making it feasible to extend this practice to the GMX Forum and ensure transparent and consistent communication about our program’s progress.