Applicant Name or Alias: Krunal Amin
Project Name: UniDex Aggregator

Project Description:
UniDex is the everything aggregator in DeFi, allowing users to find efficient routes for their swaps, perp trades, and even other aggregators. Our bottom line is to save as much money and time for users when trading across any network.

Team Members and Qualifications:
Krunal Amin | Developer
Arthur Woytna | Developer
Gor Shipaktsyan | Developer
Vladimir Hovsepyan | Developer
Vinayak | Developer
Syed Ahmed | Growth

Project Links:
Website: https://www.unidex.exchange
Twitter: https://twitter.com/UniDexFinance
Telegram: Telegram: Contact @unidexfinance
Discord: UniDex Community
Mirror: UniDex Exchange
Medium: https://unidexfinance.medium.com
Swap Aggregator: https://app.unidex.exchange
Perp Aggregator: https://leverage.unidex.exchange


Requested Grant Size: 75,000 ARB

Grant Breakdown:
50,000 ARB - Trades routed through UniDex’s Perp Aggregator ONLY to GMX
12,500 ARB - 1 Month long trading competition (During the starting month of grant)
12,500 ARB - 1 Month long trading competition (The following month)

Funding Address: 0x4aa7e6634d67a49d179dbfc6f5353de7a833922e

Funding Address Characteristics: 2/3 Gnosis Safe multisig secured by Hardware wallets and key team members.

Incentivized Contract Addresses: N/A



  • Increase aggregator adoption across Arbitrum.
  • Increase our presence on Arbitrum as the place to trade through trading incentives.
  • Provide a gamified reason to trade through the use of trading competitions.

Key Performance Indicators (KPIs):

$560,000 TVL supplied across various different chains for just-in-time liquidity (8% of this is on Arbitrum)

$570,000 Daily Average Volume on perps
$845,000 Daily Average Volume on swaps

Our goal here with these incentives is to at least achieve a daily average volume of $2,000,000 on perps from both native + aggregated trades. GMX grant incentives should greatly help with this as routing into GMXv2 will become much cheaper than routing into hyperliquid and or our own native pools making for highly efficient trading setups.

How will receiving a grant enable you to foster growth or innovation within the GMX ecosystem?:
As the leading perp aggregator by routing efficiency, we can factor in ongoing incentives for trade routes. So this means more trades routed to GMX over other perp dexs that will also be running incentives in the Arbitrum ecosystem.

Justification for the size of the grant:
UniDex has been a very long term partner of GMX since very early XVIX days and has integrated and supported every iteration of the protocol from XVIX, Gambit, GMXv1, and GMXv2. As the leading perp aggregator by routing efficiency, we believe that by having this grant we can increase the usage of both GMX + Arbitrum traders at the same time. Our traders are primarily optimism focused and this could push them to a better ecosystem to trade.

Execution Strategy:
50,000 ARB will be allocated towards covering the remaining fee rebate that GMX will already be offering. Note, trading fee rebates will ONLY apply when routing to GMX and not JIT liquidity or external perp routed trades.

The remaining 25,000 ARB will be used in a 2 part monthly trading competition. Since right now UniDex is aiming to gather our large size traders from OP and FTM onto ARB. This trading competition will be purely based on PnL gain or loss. The competition will be split into 2 different rounds. All trades will need to be opened and closed within each round to count so a user cant get a good entry in round 1 and win that round without closing it, and continue holding a high PnL position in round 2 to win that one as well.

Grant Timeline:
Whenever grant streaming starts, thats when the trading comp and trading rebates will also start.

Fund Streaming:


What date did you build on GMX?:
Since inception of all iterations of GMX

Protocol Performance:
UniDex has contributed over +$1,000,000,000 in trading volume across perps and spot markets. There are several dashboards and endpoints to view the data over time but we can use DeFiLlama as it recently started tracking aggregated perp volume (https://defillama.com/derivatives-aggregator/unidex). Outside of general usage numbers, other key achievements include being the first meta-aggregator on Arbitrum, the 1st perp aggregator in DeFI & Arbitrum, and the first limit order platform on Arbitrum.

Protocol Roadmap: N/A

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 we already have made preparations.

Does your team agree to provide bi-weekly program updates on the GMX Forum thread?: Yup we can easily provide a weekly report of all traders and their rebated PnL including their trading strategy if so desired.

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

Please note: Labs and the Grants Committee retain the right to approve, disapprove, or subsequently disqualify any grant from the programs they are administering at their sole discretion.

Hey @KrunalMoltenNetwork, Thanks for submitting your grant application.

We added some milestones and projections for what this grant will allow us to do. I think this will help clear up some expectations with milestones given they werent included in the original post.

These milestones assume incentivized trading would start on July 1st
Milestone 1: ~10,000,000 GMX Routed Volume - July 20th - 16,000 ARB
Milestone 2: ~20,000,000 GMX Routed Volume - Aug 10th - 16,000 ARB
Milestone 3: ~40,000,000 GMX Routed Volume - Sept 10th - 18,000 ARB

Methodology is lower barriers + amounts at the start as we pick up marketing and attention on our campaign. Later stages get higher ARB allocation between dates to synergize with the trading comp + our much greater arbitrum only push.

[UniDex] Grant Bi-Weekly Update

Date: [07/11/2024]

I. Executive Summary:
Some progress has been made on the volume front despite the lower incentive to trade at the moment. Roughly $300,000 of volume has been traded since our initial communication of the GMX fee subsidy on July 1st. Formal announcement of our trading competition shall be starting on the 14th.

a) Roadmap Progress
Our key to volume will be the upcoming trading competition which will have 2 parts each lasting 1 month. This first competition will start this on the 14th which should not only provide a good boost in volume, but also attract more attention to using only GMX routes for our aggregated trades.
b) Milestone/KPI Achievements
We have yet to hit milestone 1 however, we believe that with the upcoming trading competition starting soon, this can be much closer to hitting our initial goal. We are heavily focusing on arbitrum usage with our own protocol upgrades which should allow more volume flow for the later 2 milestones as well.
c) Dune Dashboards
Will edit with working SQL query of volume breakdown + share of volume per user. Current data can be verified and pulled from public subgraphs if this is being viewed within the 1-2 hours im still editing the query.

II. Current Progress:
There have been formal announcements about the trading fee rebate however the UI change to is set to ship live this monday which will make the trading fee rebate much more clear.

The trading competition page has already been completed also which will go live when the competition starts next week.

III. Community Engagement:
In terms of attracting activity we believe the upcoming UI changes should help get more people to trade specifically only routing to GMX. Had all volume been routed to GMX since July 1st, our milestone 1 would be completed already for reference.

We have 8 scheduled tweets over the next 2 weeks reminding users about the ongoing competition and trading fee rebates. We believe this can help attract more attention not just from existing traders in our community, but also those that havent used our platform before and thus GMX by proxy.

IV. Partnerships and Collaborations: