DeltaPrime
DeltaPrime: A DeFi margin protocol that allows up to 5x collateral borrowing on Arbitrum and Avalanche for enhanced capital utilization and increased project TVL.User Review
AI Review
A1
Reviewed on 19 Feb 2024 02:57 PM
The project must be building on Arbitrum.
DeltaPrime is a DeFi margin protocol on Arbitrum.
The project must have a live product or be in active development.
The project has a live product available through its website.
The project must benefit the Arbitrum and/or GMX ecosystem.
DeltaPrime directly benefits the GMX ecosystem by enabling over $320mm in GLP mint/redeems on DeltaPrime.
The project must show evidence of growing Arbitrum's or GMX's userbase.
By facilitating margin trades and leveraging DeFi protocols, DeltaPrime is likely attracting and growing the user base of Arbitrum and GMX.
The project must not be malicious, a rug pull, or operated by bad actors (to the best knowledge of the GMX DAO and given evidence).
There is no clear public evidence of malicious intent, rug pull, or operator misconduct; however, without thorough due diligence, we cannot be certain.
The project must provide its smart contract’s address or ENS name.
DeltaPrime's smart contract is presumably verifiable as it is a publicly accessible DeFi platform; however, the exact address or ENS name is not stated in the project description.
The project must have a functional website.
DeltaPrime has a functional website at https://deltaprime.io.
The project must have a public team or have public endorsements from other known entities.
The project's description does not explicitly mention a public team or endorsements, requiring further review to ascertain this criterion.
The project must provide an update every three months at a minimum.
Based on the provided GitHub activity data showing regular commits and issue handling, DeltaPrime is likely to be providing updates in at least three-month intervals.
The project must be transparent with what the grant funds will be used for.
The project description does not specify how they would use the grant funds, so their plans for fund usage are not transparent at this stage.
The project must be willing to collaborate with other projects in the Arbitrum and/or GMX ecosystem.
Given that DeltaPrime already works with GLP mint/redeems which are part of the GMX ecosystem, they appear to be willing to collaborate with other projects.
The project’s co-founders/team must not have been involved in projects that have rug pulled or otherwise scammed users in the past.
Without in-depth background checks, it is not possible to verify the history of DeltaPrime's team's involvement in past projects.