[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:
N/A