Rabbithole Grant Bi-Weekly Update
Date: December 13, 2023
I. Executive Summary:
Rabbithole was funded with 100K ARB to develop the infrastructure and deploy Quests on behalf of GMX.
RabbitHole received it’s initial 25K ARB grant from the GMX Grant multisig on December 11, 2023.
To date, Rabbithole has created 2 active quests.
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 the first Quests on Twitter.
- December 12, 2023: Rabbithole deployed the first 2 GMX Quests.
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 (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
- Trade on GMX (New + Existing Users)
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
| Phase 1 (Experiment) | Phase 2 (Iterate) | Phase 3 (Scale) | |
|---|---|---|---|
| KPI | Month 1 | Month 2 | Month 3 |
| Transactions or Actions Driven | 17,500 | 22,500 | 45,000 |
| Monthly Unique Addresses | 5,000 | 7,500 | 15,000 |
| New GMX Addresses | 1,500 | 2,000 | 4,000 |
| Reactivated Users | 1,750 | 2,250 | 4,500 |
| Grant Distributed | $25k | $25k | $50k |
Performance To Date
Pending completion of the first quest we will begin tracking this with full data.
c) Dune Dashboards
The Rabbithole community dashboard is available here: https://dune.com/rabbithole/quest-protocol-gmx-quests.
We are currently updating this dashboard to remain consistent with data needs.
II. Current Progress:
- Rabbithole received the ARB from GMX on Dec. 11, 2023.
Current Quest Progress:
- Trade on GMX (New + Existing Users)
- Completions: 315/5000
- ARB Distributed: 250.4/4000 ARB
- Trade on GMX (New Traders)
- Completions: 1457/2500
- ARB Distributed: 1456/2500 ARB
III. Community Engagement:
Twitter Post: 1
Email Promotions: 1
IV. Partnerships and Collaborations:
N/A