Rabbithole Grant Bi-Weekly Update #7

GMX Grants Reports
1

Rabbithole Grant Bi-Weekly Update #7

Date: February 21, 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 11
Quests:

  • Conquest Campaign
    • Whitelist: Historical Optimism Perps Users.
    • Total Allocation: 750 ARB.
    • Maximum Claimers: 250.
    • ARB per Claimer: 5 ARB.

Week 7/8/9/10/11

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 0.50 0.657514659812033 5153.602909063590 25000 8185.400000000000
2 2024-01-13 2024-02-13 22500 28791 7500 5459 2000 2250 0.33 0.7670105241221220 16369.49065316310 25000 22083.000000000000
3 2024-02-14 2024-03-14 45000 15000 4000 4500 0.33 0.0 6070.871988123650 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:

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] 2024-02-20 2024-02-21 1000 1.5 1000 1000 0.075 219.1223595 0.1838897185 537.2572633 0.3216520945 939.7463781 0.505541813 1477.003641 0.580541813 1696.126001 1500 1
[Open Position on GMX] 2024-02-19 2024-02-20 1000 1.5 1000 1000 0.075 215.931972 0.1649665744 474.9386609 0.2922282893 841.2769777 0.4571948637 1316.215639 0.5321948637 1532.147611 1500 1
[Open Position on GMX] 2024-02-18 2024-02-19 1000 1.5 1000 1000 0.075 209.5733745 0.1307369593 365.3074926 0.2399589302 670.441779 0.3706958895 1035.749272 0.4456958895 1245.322646 1500 1
[Open Position on GMX] 2024-02-17 2024-02-18 750 1.5 750 750 0.05625 157.1862555 0.1262248881 352.7908747 0.2062312617 576.336752 0.3324561498 929.1276267 0.3887061498 1086.313882 1125 1
[Open Position on GMX] 2024-02-16 2024-02-17 1000 1.5 227 227 0.017025 48.04118775 0.0415911871 117.3371789 0.0802286151 226.3750243 0.1218198022 343.7122032 0.1388448022 391.7533909 340.5 0.227
[Open Position on GMX] 2024-02-15 2024-02-16 750 1.5 180 180 0.0135 37.7305185 0.03739410905 104.6872023 0.0725694106 203.0695407 0.1099635196 307.756743 0.1234635196 345.4872615 270 0.24
[Open Position on GMX] 2024-02-14 2024-02-24 250 5 207 207 0.015525 42.4534995 0.03707542723 101.6749171 0.07404842388 202.9574542 0.1111238511 304.6323713 0.1266488511 347.0858708 1035 0.828
[Open Position on GMX] 2024-02-14 2024-02-15 1000 1.5 242 242 0.01815 48.54706125 0.0449572067 120.8078203 0.0878418959 235.866672 0.1327991026 356.6744923 0.1509491026 405.2215536 363 0.242
[Open Position on GMX] 2024-02-13 2024-02-14 1000 1.5 140 140 0.0105 27.860301 0.0310500545 82.36774904 0.05996368421 159.0954582 0.09101373871 241.4632072 0.1015137387 269.3235082 210 0.14
[Open Position on GMX] 2024-02-12 2024-02-13 1000 1.5 186 186 0.01395 34.99941075 0.0394211301 99.47620354 0.07179966975 180.9258092 0.1112207999 280.4020127 0.1251707999 315.4014234 279 0.186
[Open Position on GMX] 2024-02-11 2024-02-12 1000 1.5 710 710 0.05325 133.9875803 0.1393673232 350.6784711 0.2437568498 613.0495727 0.383124173 963.7280437 0.436374173 1097.715624 1065 0.71
[Open Position on GMX] 2024-02-10 2024-02-11 1000 1.5 164 164 0.0123 30.7085715 0.0433362546 108.200267 0.0802213919 200.2795446 0.1235576465 308.4798117 0.1358576465 339.1883832 246 0.164
[Open Position on GMX] 2024-02-09 2024-02-11 10 2 10 10 0.00075 1.8685125 0.0064338756 16.02846588 0.011186875 27.87131091 0.0176207506 43.89977679 0.0183707506 45.76828929 20 1
[Open Position on GMX] 2024-02-09 2024-02-19 250 5 11 11 0.000825 2.0196015 0.0049393389 12.09797041 0.0088556147 21.68732296 0.0137949536 33.78529336 0.0146199536 35.80489486 55 0.044
[Open Position on GMX] 2024-02-09 2024-02-19 250 5 220 220 0.0165 43.014561 0.06171614057 157.6779194 0.1124825633 288.247814 0.1741987039 445.9257334 0.1906987039 488.9402944 1100 0.88
[Open Position on GMX] 2024-02-09 2024-02-10 1000 1.5 41 41 0.003075 7.4568135 0.0184424673 44.72175069 0.0310230056 75.22519968 0.0494654729 119.9469504 0.0525404729 127.4037639 61.5 0.041
[Open Position on GMX] 2024-02-08 2024-02-09 1000 1.5 123 123 0.009225 22.40109 0.04456082 108.215988 0.0789572879 191.7400954 0.1235181079 299.9560834 0.1327431079 322.3571734 184.5 0.123
[Open Position on GMX] 2024-02-07 2024-02-08 1000 1.5 1000 1000 0.075 177.8239088 0.2184516358 518.1281846 0.3130586655 742.1262527 0.5315103013 1260.254437 0.6065103013 1438.078346 1500 1
[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 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
[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

III. Community Engagement:

Twitter Post: 5
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.
  • RabbitHole parters with GMX for Conquest Campaign.