Rabbithole Grant Bi-Weekly Update #5

RabbitHole · February 7, 2024, 4:29am

Rabbithole Grant Bi-Weekly Update #5

Date: February 7, 2023

I. Executive Summary:

Rabbithole was funded with 100K ARB to develop the infrastructure and deploy Quests on behalf of GMX.

RabbitHole received its initial 25K ARB grant from the GMX Grant multisig on December 11, 2023.

On February 6, 2024 RabbitHole initiated the transfer of the second funding tranche of 25K ARB.

To date, Rabbithole has created 32 quests on behalf of GMX’s STIP grant and 1 quest with an NFT Reward for RabbitHole’s Holiday Quest. RabbitHole has driven significant traffic to Arbitrum using quests. RabbitHole network performance has performed dramatically, including the protocol as one of Arbitrum’s top contracts in January

a) Roadmap Progress

Development of the GMX plugin (I.e. GMX integration on Rabbithole) was completed prior to receiving the grant, in the weeks leading up to December 12, 2023.
December 12, 2023: Rabbithole received 25K/100K ARB from GMX.
December 12, 2023: Began development of a Dune Dashboard for the GMX community to use in tracking the effectiveness of the granted ARB.
December 12, 2023: RabbitHole announces first Quests on Twitter.
January 20, 2024: RabbitHole launches support for GMX V2 Perpetual Swaps.

RabbitHole has continued to refine its GMX quests to support GMX V2 exclusive quests, in addition to further development towards perpetual swap plugin support and “Open Position” action types.

Our analysts have launched Open Position quests allowing for consistent quest completion rates around 1.5 ARB per quest reward. We will continue to adapt our reward rate according to market conditions.

Week 7/8/9

Transition to daily Perpetual Quests.

Quests:
- Open Position on GMX
  - Total Allocation: 1,125 ARB.
  - Maximum Claimers: 750 ARB.
  - ARB per Claimer: 1.5 ARB.

Week 6

The Quest breakdown for the sixth week of GMX Quests is as follows:

Quests:
- Trade on GMX V2
  - Allow List: Historical GMX Users.
  - Total Allocation: 1,125 ARB.
  - Maximum Claimers: 750.
  - ARB per Claimer: 1.5.
- Trade on GMX V2
  - Allow List: New Users.
  - Total Allocation: 900 ARB.
  - Maximum Claimers: 750.
  - ARB per Claimer: 1.2.
- Open Position on GMX V2
  - Allow List: New Users.
  - Total Allocation: 300 ARB.
  - Maximum Claimers: 100.
  - ARB per Claimer: 3.
- Open Position on GMX V2
  - Allow List: New Users.
  - Total Allocation: 300 ARB.
  - Maximum Claimers: 100.
  - ARB per Claimer: 3.

Week 5

The Quest breakdown for the fifth week of GMX Quests is as follows:

Quests:
- Trade on GMX V2
  - Allow List: Historical GMX Users.
  - Total Allocation: 1,125 ARB.
  - Maximum Claimers: 750.
  - ARB per Claimer: 1.5.
- Trade on GMX V2
  - Allow List: New Users.
  - Total Allocation 3,000 ARB.
  - Maximum Claimers: 2,500
  - ARB per Claimer: 1.2.

Week 4

The Quest breakdown for the fourth week of GMX Quests is as follows:

Quests:
- Trade on GMX V2
  - Allow List: New Users.
  - Total Allocation: 1,500 ARB.
  - Maximum Claimers: 1,000
  - ARB per Claimer: 1.5.
- Trade on GMX V2
  - Allow List: New Users.
  - Total Allocation 3,600 ARB.
  - Maximum Claimers: 3,000
  - ARB per Claimer: 1.2.

Week 3

The Quest breakdown for the third week of GMX Quests is as follows:

Quests:
- Trade on GMX V2
  - Allow List: New Users.
  - Total Allocation: 2,250 ARB.
  - Maximum Claimers: 1500.
  - ARB per Claimer: 1.5.
- Trade on GMX V2
  - Allow List: New Users.
  - Total Allocation: 4,800 ARB.
  - Maximum Claimers: 4000.
  - ARB per Claimer: 1.2.

Week 2

The Quest breakdown for the second week of GMX Quests is as follows:

Quests:
- Trade on GMX V2
  - Allow List: Historical Users.
  - Total Allocation: 3,000 ARB.
  - Maximum Claimers: 2,000.
  - ARB per Claimer: 1.5.
- Trade on GMX V2
  - Allow List: Historical Users.
  - Total Allocation: 4,800 ARB.
  - Maximum Claimers: 4,000.
  - ARB per Claimer: 1.2.

Week 1

Rabbithole has agreed to release the ARB granted in the form of weekly quests. The Quest breakdown for the first week of GMX Quests is as follows:

Quests:
- Trade on GMX V2
  - Allow List: New GMX users (excludes current GMX users)…
  - Total Allocation: 250 ARB.
  - Maximum Claimers: 250.
  - ARB per Claimer: 1.
- Trade on GMX (New + Existing Users)
  - Allow List: New & existing GMX users.
  - Total Allocation: 4,000 ARB
  - Maximum Claimers: 5,000
  - ARB per Claimer: 0.8
- Trade on GMX (New Traders)
  - Allow List: New GMX users (excludes current GMX users).
  - Total Allocation: 2,500 ARB
  - Maximum Claimers: 2,500.
  - ARB per Claimer: 1.0

b) Milestone/KPI Achievements

Target Objectives

Objective	Description	KPI
Objective #1	Drive new users to GMX and create sustainable ecosystem growth. We’ll use allowlist targeting functionality such as whitelist/blacklist to accomplish this objective.	7,500 new wallets
Objective #2	Drive incremental usage to GMX by engaging existing users and reactivating dormant ones.	27,500 monthly unique wallets, 8,500 re-engaged wallets, 85,000 transactions driven to GMX
Objective #3	Provide GMX a detailed CPA (cost per action) & fees generated for each quest as well as the overall program to measure efficacy of the effort.	Dune Dashboard
Objective #4	Create a GMX Plugin to deploy quests to specify minimum amounts and specific tokens, which can be used by anyone in GMX community	GMX Plugin for Quest Protocol

Target KPIs (Adjusted)

	Phase 1 (Experiment)	Phase 2 (Iterate)	Phase 3 (Scale)
KPI	Month 1	Month 2	Month 3
Transactions or Actions Driven	15,000	10,000	20,000
Monthly Unique Addresses	5,000	3,333	6,667
New GMX Addresses	1,333	889	1,778
Reactivated Users	1,500	1,000	2,000
Grant Distributed	25,000	25,000	50,000

Performance To Date

phase	start_date	end_date	target_actions	actual_monthly_total_actions	target_addresses	actual_monthly_unique_addresses	target_new_addresses	target_reactivated_addresses	target_avg_cpa_arb	average_monthly_cpa	total_network_fees_usd	target_arb_distributed	total_rewards_claimed_arb
1	2023-12-12	2024-01-12	17500	12449	5000	4666	1500	1750	0.5	0.6575146598	5153.602909	25000	8185.4
2	2024-01-13	2024-02-13	22500	28791	7500	5459	2000	2250	0.33	0.7670105241	12939.87014	25000	22083
3	2024-02-14	2024-03-14	45000		15000		4000	4500	0.33			50000

Performance details available on Dune here.

c) Dune Dashboards

The Rabbithole community dashboard is available [here]([ https://dune.com/boost_xyz/quest-protocol-gmx-quests).

The RabbitHole STIP dashboard is available here: https://dune.com/boost_xyz/stip.

II. Current Progress:

Rabbithole received the ARB from GMX on Dec. 11, 2023.
1600×196 35.5 KB

Boost Title	start_time	end_time	total_claims_allowed	reward_per_claim_arb	unique_questors	num_claims	total_claim_fees_eth	total_claim_fees_usd	total_claim_tx_fees_eth	total_claim_tx_fees_usd	total_action_tx_fees_eth	total_action_tx_fees_usd	total_network_fees_eth	total_network_fees_usd	total_fees_eth	total_fees_usd	total_rewards_claimed_arb	completion_percentage
- Open Position on GMX	2024-02-07	2024-02-08	1000	1.5	256	256	0.0192	45.31257375	0.0535718706	126.5063634	0.0859810485	204.3655984	0.1395529191	330.8719618	0.1587529191	376.1845355	384	0.256
- Open Position on GMX	2024-02-06	2024-02-07	1000	1.5	1000	1000	0.075	172.485474	0.1361371576	313.0959481	0.2319189549	533.3992089	0.3680561125	846.4951569	0.4430561125	1018.980631	1500	1
- Open Position on GMX	2024-02-05	2024-02-06	1000	1.5	1000	1000	0.075	171.845112	0.107661824	246.6780851	0.1903827248	436.1997488	0.2980445488	682.8778339	0.3730445488	854.7229459	1500	1
- Open Position on GMX	2024-02-04	2024-02-05	1000	1.5	1000	1000	0.075	172.333941	0.1070592982	246.0107986	0.1905426549	437.8124934	0.2976019531	683.823292	0.3726019531	856.157233	1500	1
- Open Position on GMX	2024-02-03	2024-02-04	1000	1.5	1000	1000	0.075	173.553987	0.1401369655	324.3076307	0.235685454	545.3373481	0.3758224195	869.6449788	0.4508224195	1043.198966	1500	1
- Open Position on GMX	2024-02-02	2024-02-03	750	1.5	750	750	0.05625	130.1676848	0.1190714155	275.5278671	0.198203995	458.5720394	0.3172754105	734.0999065	0.3735254105	864.2675912	1125	1
- Open Position on GMX	2024-02-01	2024-02-02	1000	1.5	206	206	0.01545	35.1311445	0.03824329571	86.99013108	0.0717585141	163.2053996	0.1100018098	250.1955307	0.1254518098	285.3266752	309	0.206
- Open Position on GMX	2024-01-31	2024-02-01	1000	1.5	1000	1000	0.075	175.8152565	0.1681589455	394.1904114	0.2374587816	557.3561369	0.4056177271	951.5465483	0.4806177271	1127.361805	1500	1
- Open Position on GMX	2024-01-30	2024-01-31	1500	1.5	291	291	0.021825	50.82935475	0.05242981171	122.1144688	0.09461489554	220.2769613	0.1470447073	342.39143	0.1688697073	393.2207848	436.5	0.194
- Open Position on GMX	2024-01-29	2024-01-30	1000	1.5	1000	1000	0.075	169.4568548	0.1003985512	226.8584988	0.1802861803	407.2492099	0.2806847315	634.1077087	0.3556847315	803.5645635	1500	1
- Open Position on GMX	2024-01-28	2024-01-29	1000	1.5	1000	1000	0.075	170.1663758	0.0960096329	217.831628	0.1852832903	420.3764537	0.2812929232	638.2080817	0.3562929232	808.3744574	1500	1
- Open Position on GMX	2024-01-27	2024-01-28	1000	1.5	1000	1000	0.075	170.305611	0.1041706388	236.5448655	0.1942142301	440.9526932	0.2983848689	677.4975587	0.3733848689	847.8031697	1500	1
- Open Position on GMX	2024-01-26	2024-01-27	1000	1.7	1000	1000	0.075	166.4080065	0.1501919981	333.2360411	0.250303203	555.4668149	0.4004952011	888.702856	0.4754952011	1055.110863	1700	1
- Open Position on GMX	2024-01-25	2024-01-26	750	1.5	750	750	0.05625	124.8661125	0.0972687958	216.0147456	0.1903178684	422.8228978	0.2875866642	638.8376434	0.3438366642	763.7037559	1125	1
- Open Position on GMX	2024-01-24	2024-01-25	750	1.5	750	750	0.05625	125.2286588	0.0888959722	197.8553329	0.1649178859	367.1298224	0.2538138581	564.9851554	0.3100638581	690.2138141	1125	1
- Open Position on GMX	2024-01-23	2024-01-24	750	1.5	750	750	0.05625	131.9551193	0.0770306792	180.703281	0.1366764486	320.6216931	0.2137071278	501.324974	0.2699571278	633.2800933	1125	1
- Open position on GMX V 2 on Arbitrum	2024-01-19	2024-01-21	250	1.25	250	250	0.01875	46.6573365	0.0334057521	83.11874005	0.0631485351	157.0936991	0.0965542872	240.2124392	0.1153042872	286.8697757	312.5	1
- Open position on GMX V 2 on Arbitrum	2024-01-19	2024-01-21	250	2	250	250	0.01875	46.63745175	0.039383539	97.95901134	0.0641369919	159.5311913	0.1035205309	257.4902026	0.1222705309	304.1276544	500	1
- Open position on GMX V 2 on Arbitrum	2024-01-19	2024-01-21	100	3	100	100	0.0075	18.67154775	0.0195412002	48.65460602	0.0345169685	85.95333331	0.0540581687	134.6079393	0.0615581687	153.2794871	300	1
- Trade on GMX V2	2024-01-17	2024-01-23	750	1.2	750	750	0.05625	141.2636985	0.1521001667	382.9018612	0.2668975038	672.2061543	0.4189976704	1055.108015	0.4752476704	1196.371714	900	1
- Trade on GMX V2	2024-01-16	2024-01-23	750	1.5	750	750	0.05625	141.709173	0.1584551693	399.193765	0.2468002958	621.7614939	0.4052554651	1020.955259	0.4615054651	1162.664432	1125	1
- Trade on GMX V2	2024-01-10	2024-01-16	2500	1.2	2071	2071	0.155325	394.8152768	0.351463514	890.9726459	0.6152231088	1558.696221	0.9666866228	2449.668867	1.122011623	2844.484144	2485.2	0.8284
- Trade on GMX V2	2024-01-09	2024-01-16	750	1.5	750	750	0.05625	141.9142178	0.1359400833	343.4463855	0.229879402	579.6753279	0.3658194852	923.1217133	0.4220694852	1065.035931	1125	1
- Trade on GMX V2	2024-01-03	2024-01-09	3000	1.2	600	600	0.045	101.8570575	0.1083896174	244.6515313	0.2052067186	463.3870797	0.313596336	708.0386109	0.358596336	809.8956684	720	0.2
- Trade on GMX V2	2024-01-02	2024-01-09	1000	1.5	169	169	0.012675	28.611426	0.03368249215	76.10560281	0.06263933617	141.5758014	0.09632182832	217.6814042	0.1089968283	246.2928302	253.5	0.169
- Trade on GMX V2	2023-12-27	2024-01-02	4000	1.2	522	522	0.03915	90.77039925	0.09648517952	224.4835554	0.1812718634	421.6100623	0.2777570429	646.0936177	0.3169070429	736.8640169	626.4	0.1305
- Trade on GMX V2	2023-12-26	2024-01-02	1500	1.5	196	196	0.0147	33.8243295	0.0313358755	72.23472049	0.05933768321	136.7639754	0.09067355871	208.9986959	0.1053735587	242.8230254	294	0.1306666667
- Trade on GMX V2	2023-12-19	2023-12-26	4000	1.2	750	750	0.05625	126.6077048	0.404380851	905.2771687	0.3988581379	892.9680646	0.8032389889	1798.245233	0.8594889889	1924.852938	900	0.1875
- Trade on GMX V2	2023-12-19	2023-12-26	2000	1.5	201	201	0.015075	33.995943	0.1023166953	229.2636347	0.1020073115	228.6628002	0.2043240068	457.9264349	0.2193990068	491.9223779	301.5	0.1005
- Swap on GMX V2 on Arbitrum	2023-12-15	2023-12-19	250	1	250	250	0.01875	42.07262325	0.1576066467	353.7599077	0.1491809866	334.8108574	0.3067876333	688.5707651	0.3255376333	730.6433883	250	1
- Trade on GMX	2023-12-12	2023-12-19	5000	0	286	286	0.02145	49.1720355	1.476937812	3388.164742	0.0886808316	203.2361536	1.565618644	3591.400896	1.587068644	3640.572931	0	0.0572
- Trade on GMX	2023-12-12	2023-12-19	5000	0.8	286	286	0.02145	49.1720355	1.476937812	3388.164742	0.0886808316	203.2361536	1.565618644	3591.400896	1.587068644	3640.572931	228.8	0.0572

III. Community Engagement:

Twitter Post: 4
Email Promotions: 1

IV. Partnerships and Collaborations:

RabbitHole included GMX in its Holiday Quests to drive an additional 935 Questors to GMX.
RabbitHole is partnering with GMX on an exploratory quest.

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Rabbithole Grant Bi-Weekly Update #5