Pear Protocol
Pear Protocol offers a trading dApp allowing users to conduct leveraged pair trades on-chain, like long BTC/short ETH, and seeks a 100k $ARB grant to incentivize trading on its upcoming audited platform.User Review
AI Review
A1
Reviewed on 19 Feb 2024 02:56 PM
Pear Protocol has built an innovative trading dApp, which is live on Arbitrum Mainnet.
Pear Protocol is reported to be live with a trading dApp on Arbitrum Mainnet.
Users are able to trade long-short ‘pair-trades’ e.g. Long $BTC / short $ETH with leverage in a seamless, capital efficient, and composable way.
The project description outlines the ability for users to make pair trades with leverage, suggesting a good fit with GMX's liquidity pools.
We have currently built on top of the GMX v1 contracts and are in closed beta on Arbitrum Mainnet.
The project has built on GMX v1, and since it's in closed beta on Arbitrum Mainnet, they are engaged with the GMX ecosystem.
The primary use of the grant will be for trading incentives to incentivise users to make pair trades on our Isolated Margin product.
The requested grant is for trading incentives, which aligns with the GMX DAO Grants objectives.
We will distribute these at a rate of $33k / month for the 3 months once we go live with our fully audited platform (January 2024).
The distribution plan for the grant is clearly laid out and timed with the launch of their fully audited platform, demonstrating preparation and planning.
We intend to migrate our smart contracts to GMX v2 since the majority of liquidity will be housed in those GM pools.
The project's plans to migrate to GMX v2 shows a commitment to staying current with GMX's ecosystem developments.
Deliver over $100mm of traded volume to GMX by March 2024, routed through the v2 GM Pools.
Pear Protocol has set clear KPIs which include delivering significant traded volume to GMX, indicating potential for tangible benefits to the ecosystem.
Generate at least $101k in GMX v2 fees, thus making the grant proposal a positive ROI.
The proposal includes a projection of generating fees that exceed the requested grant amount, suggesting a financial benefit to GMX.
Does your team agree to provide bi-weekly program updates on the GMX Forum thread?
The team has agreed to provide bi-weekly updates on the GMX Forum thread, which meets the transparency and reporting requirements.
Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program’s funding stream?
The team has acknowledged the conditions for maintaining the funding stream, indicating an understanding of the terms.