Project name: MUX Protocol
Author name and contact info (please provide a reliable point of contact for the project):
Jean - Head of Marketing TG: @Jean_MUX Discord: JeanM# 3365 Jayden - Head of Communication TG: @mcb_jay Discord: JClan# 3025
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: Yes
L 2 recipient address: 0 x 7 C 8126 ef 43 c 09 C 22 bf 0 CcdF 7426180 e 6 c 48068 A 5
Which Voting Cycle are you applying for?: Season 3 , Cycle 10
Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Growth Experiment Grants
Project description (please explain how your project works): The MUX Protocol Suite is a complex of protocols with features that will offer optimized trading cost, deep liquidity, a wide range of leverage options and diverse market options for traders. MUX’s goal is to become the all-in-one platform for on-chain leveraged tradingKey components in the MUX Protocol Suite:MUX Leveraged Trading Protocol - A decentralized leveraged trading protocol that offers zero price impact trading, up to 100 x leverage, no counterparty risks for traders and an optimized on-chain trading experience. Traders will trade against the MUX native pool (MUXLP pool) on the Leveraged Trading Protocol.MUX Leveraged Trading Aggregator - A sub-protocol in the MUX protocol suite that automatically selects the most suitable liquidity route and minimizes the composite cost for traders while meeting the needs of opening positions. The aggregator can also supply additional margin for traders to raise the leverage up to 100 x on aggregated underlying protocols and can optimize liquidation prices.
Website: https://mux.network/
Twitter: https://twitter.com/muxprotocol
Discord/Discourse/Community: MUX Protocol
Other relevant links (including any demos): Telegram: Contact @muxprotocol
Additional team member info (please link): Head of marketing - Jean - https://twitter.com/ 0 x_jeanm, Head of Product - Dumbird - https://twitter.com/realdumbird, Head of Communication - Jayden - https://twitter.com/jclan 0 x
Please link to any previous projects the team has meaningfully contributed to: No applicable
Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Metrics as of Feb 1 st, 2023 Total trading volume: $ 2 , 276 , 742 , 603 Total unique addresses: 5 , 823 Total protocol income: $ 2 , 330 , 926 Total transactions: ~ 200 , 000 TVL - MUXLP pool: $ 11 , 300 , 066 You can see an overview of MUX protocol metrics from the following public sourcesMUX stats page - MetabaseToken Terminal - MUX (MCB) - Key metrics | Dashboard | Token TerminalDefiLlama - MUX Protocol: TVL and Stats - DefiLlama
Competitors, peers, or similar projects (please link): GMXGains NetworkMyceliumCap Finance
Is/will this project be open sourced?: Yes
Optimism native?: No
Date of deployment/expected deployment on Optimism: 2 / 15 / 2023
What is the problem statement this proposal hopes to solve for the Optimism ecosystem?: In DeFi space, on-chain leverage trading has always been a popular track with tons of players, especially now. However, as the protocols proliferate at a rapid pace, obstacles start to appear along the way: 1 . The liquidity is scattered on different protocols, leading to liquidity underutilization. 2 . While the liquidity is fragmented on different chains, there isn’t a native approach to utilize the cross-chain liquidity. 3 . The differences between pricing mechanisms and margin parameters on each protocol are vast; traders can’t easily access the optimal pricing and trading experiences. In the Optimistic ecosystem, there is a lack of seamless user experiences of leveraged trading and enough liquidity for leveraged traders.
How does your proposal offer a value proposition solving the above problem?: MUX protocol has just launched the first ever leveraged trading aggregator, which acts as the all-in-one entrance for leveraged trading with best-in-class trading experiences. Currently, MUX has integrated with GMX and has a MUX native pool. Traders can save the hassle of figuring out which protocol to choose, which chains to move assets to by using MUX one stop access for leveraged trading. MUX aggregator provides the smart liquidity routes to the protocol with optimized trading cost. Besides, MUX also enables leverage booster with which, for example, traders can trade on GMX and other upcoming protocols with up to 100 x leverage.
With all those features combined, we have gained sustainable growth since launch in the past two months.
Why will this solution be a source of growth for the Optimism ecosystem?: With these solutions of on-chain leveraged trading, MUX will attract a constant flow of traders towards Optimism. Leveraged trading can generate huge trading volume as well as users adoption since it’s one of the most widely adopted ways of trading. With both of the smooth trading experiences and the unified liquidity, MUX protocol will be able to grow to be one the key players in the DeFi leveraged trading space. Moving forward, we are integrating with more protocols to diversify markets and liquidity sources. So traders can stay in the Optimism ecosystem to enjoy liquidity and markets among all chains MUX integrated.
Has your project previously applied for an OP grant?: No
Number of OP tokens requested: 500 , 000
Did the project apply for or receive OP tokens through the Foundation Partner Fund?: No
If OP tokens were requested from the Foundation Partner Fund, what was the amount?: Not applicable
How much will your project match in co-incentives? (not required but recommended, when applicable): Not applicable
How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving.): We propose that the distribution of OP token is divided into two segments: 1 ) as liquidity funds, 2 ) as a trading incentive.Liquidity Funds We propose that 30 ( 150 k OP tokens) will be added in the MUX Pool as Protocol Owned Liquidity (POL). Instead of using funds as traditional liquidity incentive, we will directly put these OP token into our MUXLP pool on Optimism, which brings several positive effects:These OP funds will significantly improve the initial liquidity of MUXLP pool, which further improves the trading experiences on Optimism.With our universal liquidity and MUX aggregator, traders will enjoy deep liquidity and smooth trading experiences. The volume generated by users will further improve the MUXLP revenue, raise LP APY and attract more users to provide liquidity on MUX LP pool.This positive loop is more sustainable than purely liquidity mining incentive. The OP token will not be paper handed, which decrease the inflation pressure of OP. 2 . Trading Incentive The other 70 % ( 350 k OP tokens) will be used as trading incentives. Currently, the trading fee on MUX protocol is 0 . 08 % and no leverage booster fee is charged. The fee model is very competitive in the DEFI space. The OP will be used as trading incentives and the mechanism in which we will distribute the rewards can be found below: Traders will receive 20 % of their trading fee as rebate. The rebate will be calculated based on the trading fee that users paid. The distribution time will depend on the trading volume as well as price of OP. But we are targeting around 6 months. For example, If the average daily trading volume of the first month is $ 15 M, the trading fee in total will be $ 8000 , then the first month consumption of OP will be 36 , 000 (assuming the price of OP is at $ 2 . 0 ).The trading incentive will be a strong factor to maximize traders on Optimism since MUX protocol on Optimism will be the cheapest among all chains and traders are cost sensitive.
Over what period of time will the tokens be distributed for each initiative? Shorter timelines are preferable to longer timelines. Shorter timelines (on the order of weeks) allow teams to quickly demonstrate achievement of milestones, better facilitating additional grants via subsequent proposals: For the liquidity Funds initiative, it will stay in the protocol owned liquidity permanently, except that the governance makes decisions to change it. MUX aggregator has only been live for no more than two months and has achieved $ 10 M of daily trading volume. On optimism network, we are setting these targets which we believe are very achievable with our current traction: 1 st month: $ 5 M / day 2 nd month: $ 10 M / day 3 - 6 month: $ 20 M / day
Please clearly define the milestones you expect to achieve in order to receive milestone based installments. Please consider how each milestone relates to incentivizing sustainable usage and liquidity on Optimism. Progress towards each milestone must be trackable: Combined the two distribution plan, the launch of MUX protocol on Optimism will form the model of a sustainable positive loop - increase of trading volume and liquidity organically in the long term.TVL is targeted at $ 10 M Trading volume: 1 st month: $ 5 M / day 2 nd month: $ 10 M / day 3 - 6 month: $ 20 M / day
Why will incentivized users and liquidity on Optimism remain after incentives dry up?: Both of the initiatives are designed in a way of sustainable growth. The liquidity funds will stay in the MUXLP Pool for a long term to provide necessary liquidity. The trading incentive is to motivate traders to move to the OP ecosystem. As long as traders get used to the MUX User experiences / UI, they will tend to stay. In the longer term, The fee model, with the UX and low slippage, MUX is one of the best choices of leveraged trading in the DeFi space.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): Aggregator contracts: https://docs.mux.network/protocol/contracts/contracts-aggregator, MUX trading protocol contracts: MUX Leveraged Trading Protocol Contracts - MUX
Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions
The post outlines a project called MUX Protocol and provides contact information. It explains the project's objectives, components, and how it aims to solve challenges in the DeFi space with leveraged trading. The proposal offers a detailed value proposition, growth potential for the Optimism ecosystem, requested OP tokens, distribution plan, achievable milestones, and sustainability measures. The project plans to improve trading experiences, attract traders to Optimism, and enhance liquidity.
GFXlabs: GrantsOps:
Number of OP tokens requested: 500,000
There is currently a strong recommendation for grants to not exceed 250,000 OP. To increase the chances of a successful application, we recommend revising this number down to no more than 250,000 OP, and making sure your proposed plan is still effective at those lower levels.
Thank you.
GFXlabs: GrantsOps:
We propose that 30 (150k OP tokens) will be added in the MUX Pool as Protocol Owned Liquidity (POL). Instead of using funds as traditional liquidity incentive, we will directly put these OP token into our MUXLP pool on Optimism, which brings several positive effects:
Can you clarify whether these tokens would be owned by (and eventually returned to) Optimism governance, or is this a direct grant of property to MUX? If this protocol-owned liquidity is to be owned by MUX, what is the reasoning for it to be a grant rather than a loan, as is sometimes used with traditional market makers?
Thank you.
Project name: MUX Protocol Author name and contact info (please provide a reliable point of contact…
Project name: MUX Protocol Author name and contact info (please provide a reliable point of contact for the project): Jean - Head of Marketing TG: @Jean_MUX Discord: JeanM# 3365 Jayden - Head of Communication TG: @mcb_jay Discord: JClan# 3025 I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes I understand that I will be expected to following the public grant reporting requirements outlined here: Yes L 2 recipient address: 0 x 7 C 8126 ef 43 c 09 C 22 bf 0 CcdF 7426180 e 6 c 48068 A 5 Which Voting Cycle are you applying for?: Season 3 , Cycle 10 Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Growth Experiment Grants Project description (please explain how your project works): The MUX Protocol Suite is a complex of protocols with features that will offer optimized trading cost, deep liquidity, a wide range of leverage options and diverse market options for traders. MUX’s goal is to become the all-in-one platform for on-chain leveraged tradingKey components in the MUX Protocol Suite:MUX Leveraged Trading Protocol - A decentralized leveraged trading protocol that offers zero price impact trading, up to 100 x leverage, no counterparty risks for traders and an optimized on-chain trading experience. Traders will trade against the MUX native pool (MUXLP pool) on the Leveraged Trading Protocol.MUX Leveraged Trading Aggregator - A sub-protocol in the MUX protocol suite that automatically selects the most suitable liquidity route and minimizes the composite cost for traders while meeting the needs of opening positions. The aggregator can also supply additional margin for traders to raise the leverage up to 100 x on aggregated underlying protocols and can optimize liquidation prices. Website: https://mux.network/ 34 Twitter: https://twitter.com/muxprotocol 17 Discord/Discourse/Community: MUX Protocol 1 Other relevant links (including any demos): Telegram: Contact @muxprotocol Additional team member info (please link): Head of marketing - Jean - https://twitter.com/ 0 x_jeanm 3 , Head of Product - Dumbird - https://twitter.com/realdumbird 1 , Head of Communication - Jayden - https://twitter.com/jclan 0 x 3 Please link to any previous projects the team has meaningfully contributed to: No applicable Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Metrics as of Feb 1 st, 2023 Total trading volume: $ 2 , 276 , 742 , 603 Total unique addresses: 5 , 823 Total protocol income: $ 2 , 330 , 926 Total transactions: ~ 200 , 000 TVL - MUXLP pool: $ 11 , 300 , 066 You can see an overview of MUX protocol metrics from the following public sourcesMUX stats page - Metabase 3 Token Terminal - MUX (MCB) - Key metrics | Dashboard | Token Terminal 1 DefiLlama - MUX Protocol: TVL and Stats - DefiLlama 2 Competitors, peers, or similar projects (please link): GMXGains NetworkMyceliumCap Finance Is/will this project be open sourced?: Yes Optimism native?: No Date of deployment/expected deployment on Optimism: 2 / 15 / 2023 What is the problem statement this proposal hopes to solve for the Optimism ecosystem?: In DeFi space, on-chain leverage trading has always been a popular track with tons of players, especially now. However, as the protocols proliferate at a rapid pace, obstacles start to appear along the way: 1 . The liquidity is scattered on different protocols, leading to liquidity underutilization. 2 . While the liquidity is fragmented on different chains, there isn’t a native approach to utilize the cross-chain liquidity. 3 . The differences between pricing mechanisms and margin parameters on each protocol are vast; traders can’t easily access the optimal pricing and trading experiences. In the Optimistic ecosystem, there is a lack of seamless user experiences of leveraged trading and enough liquidity for leveraged traders. How does your proposal offer a value proposition solving the above problem?: MUX protocol has just launched the first ever leveraged trading aggregator, which acts as the all-in-one entrance for leveraged trading with best-in-class trading experiences. Currently, MUX has integrated with GMX and has a MUX native pool. Traders can save the hassle of figuring out which protocol to choose, which chains to move assets to by using MUX one stop access for leveraged trading. MUX aggregator provides the smart liquidity routes to the protocol with optimized trading cost. Besides, MUX also enables leverage booster with which, for example, traders can trade on GMX and other upcoming protocols with up to 100 x leverage. With all those features combined, we have gained sustainable growth since launch in the past two months. Why will this solution be a source of growth for the Optimism ecosystem?: With these solutions of on-chain leveraged trading, MUX will attract a constant flow of traders towards Optimism. Leveraged trading can generate huge trading volume as well as users adoption since it’s one of the most widely adopted ways of trading. With both of the smooth trading experiences and the unified liquidity, MUX protocol will be able to grow to be one the key players in the DeFi leveraged trading space. Moving forward, we are integrating with more protocols to diversify markets and liquidity sources. So traders can stay in the Optimism ecosystem to enjoy liquidity and markets among all chains MUX integrated. Has your project previously applied for an OP grant?: No Number of OP tokens requested: 500 , 000 Did the project apply for or receive OP tokens through the Foundation Partner Fund?: No If OP tokens were requested from the Foundation Partner Fund, what was the amount?: Not applicable How much will your project match in co-incentives? (not required but recommended, when applicable): Not applicable How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving.): We propose that the distribution of OP token is divided into two segments: 1 ) as liquidity funds, 2 ) as a trading incentive.Liquidity Funds We propose that 30 ( 150 k OP tokens) will be added in the MUX Pool as Protocol Owned Liquidity (POL). Instead of using funds as traditional liquidity incentive, we will directly put these OP token into our MUXLP pool on Optimism, which brings several positive effects:These OP funds will significantly improve the initial liquidity of MUXLP pool, which further improves the trading experiences on Optimism.With our universal liquidity and MUX aggregator, traders will enjoy deep liquidity and smooth trading experiences. The volume generated by users will further improve the MUXLP revenue, raise LP APY and attract more users to provide liquidity on MUX LP pool.This positive loop is more sustainable than purely liquidity mining incentive. The OP token will not be paper handed, which decrease the inflation pressure of OP. 2 . Trading Incentive The other 70 % ( 350 k OP tokens) will be used as trading incentives. Currently, the trading fee on MUX protocol is 0 . 08 % and no leverage booster fee is charged. The fee model is very competitive in the DEFI space. The OP will be used as trading incentives and the mechanism in which we will distribute the rewards can be found below: Traders will receive 20 % of their trading fee as rebate. The rebate will be calculated based on the trading fee that users paid. The distribution time will depend on the trading volume as well as price of OP. But we are targeting around 6 months. For example, If the average daily trading volume of the first month is $ 15 M, the trading fee in total will be $ 8000 , then the first month consumption of OP will be 36 , 000 (assuming the price of OP is at $ 2 . 0 ).The trading incentive will be a strong factor to maximize traders on Optimism since MUX protocol on Optimism will be the cheapest among all chains and traders are cost sensitive. Over what period of time will the tokens be distributed for each initiative? Shorter timelines are preferable to longer timelines. Shorter timelines (on the order of weeks) allow teams to quickly demonstrate achievement of milestones, better facilitating additional grants via subsequent proposals: For the liquidity Funds initiative, it will stay in the protocol owned liquidity permanently, except that the governance makes decisions to change it. MUX aggregator has only been live for no more than two months and has achieved $ 10 M of daily trading volume. On optimism network, we are setting these targets which we believe are very achievable with our current traction: 1 st month: $ 5 M / day 2 nd month: $ 10 M / day 3 - 6 month: $ 20 M / day Please clearly define the milestones you expect to achieve in order to receive milestone based installments. Please consider how each milestone relates to incentivizing sustainable usage and liquidity on Optimism. Progress towards each milestone must be trackable: Combined the two distribution plan, the launch of MUX protocol on Optimism will form the model of a sustainable positive loop - increase of trading volume and liquidity organically in the long term.TVL is targeted at $ 10 M Trading volume: 1 st month: $ 5 M / day 2 nd month: $ 10 M / day 3 - 6 month: $ 20 M / day Why will incentivized users and liquidity on Optimism remain after incentives dry up?: Both of the initiatives are designed in a way of sustainable growth. The liquidity funds will stay in the MUXLP Pool for a long term to provide necessary liquidity. The trading incentive is to motivate traders to move to the OP ecosystem. As long as traders get used to the MUX User experiences / UI, they will tend to stay. In the longer term, The fee model, with the UX and low slippage, MUX is one of the best choices of leveraged trading in the DeFi space. Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): Aggregator contracts: https://docs.mux.network/protocol/contracts/contracts-aggregator 1 , MUX trading protocol contracts: MUX Leveraged Trading Protocol Contracts - MUX 2 Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions
GFXlabs: GrantsOps:
Number of OP tokens requested: 500,000
There is currently a strong recommendation for grants to not exceed 250,000 OP. To increase the chances of a successful application, we recommend revising this number down to no more than 250,000 OP, and making sure your proposed plan is still effective at those lower levels.
Thank you.
GFXlabs: GrantsOps:
We propose that 30 (150k OP tokens) will be added in the MUX Pool as Protocol Owned Liquidity (POL). Instead of using funds as traditional liquidity incentive, we will directly put these OP token into our MUXLP pool on Optimism, which brings several positive effects:
Can you clarify whether these tokens would be owned by (and eventually returned to) Optimism governance, or is this a direct grant of property to MUX? If this protocol-owned liquidity is to be owned by MUX, what is the reasoning for it to be a grant rather than a loan, as is sometimes used with traditional market makers?
Thank you.
GrantsOps:
Number of OP tokens requested: 500 , 000
There is currently a strong recommenda…
GrantsOps:
Number of OP tokens requested: 500 , 000
There is currently a strong recommendation for grants to not exceed 250 , 000 OP. To increase the chances of a successful application, we recommend revising this number down to no more than 250 , 000 OP, and making sure your proposed plan is still effective at those lower levels.
Thank you.
GrantsOps: Number of OP tokens requested: 500 , 000 There is currently a strong recommenda…
GrantsOps: Number of OP tokens requested: 500 , 000 There is currently a strong recommendation for grants to not exceed 250 , 000 OP. To increase the chances of a successful application, we recommend revising this number down to no more than 250 , 000 OP, and making sure your proposed plan is still effective at those lower levels. Thank you.
Hey GFXlabs, this is Jean from MUX Protocol. yes we would love to amend the grant size to 250 , 00…
Hey GFXlabs, this is Jean from MUX Protocol. yes we would love to amend the grant size to 250 , 000 .
Token distribution will be as following:
We propose that the distribution of OP token is for trading incentive.
Currently, the trading fee on MUX protocol is 0 . 08 % and no leverage booster fee is charged. The fee model is very competitive in the DEFI space.
The OP will be used as trading incentives and the mechanism in which we will distribute the rewards can be found below:
Traders will receive 20 % of their trading fee as rebate. The rebate will be calculated based on the trading fee that users paid. The distribution time will depend on the trading volume as well as price of OP. But we are targeting around 6 months.
For example,
If the average daily trading volume of the first month is $ 15 M, the daily trading fee in total will be $ 12 , 000 , then the first month consumption of OP will be 24 , 000 (assuming the price of OP is at $ 2 . 0 ).
The trading incentive will be a strong factor to increase and maximize the number of traders on Optimism since MUX protocol on Optimism will be the cheapest among all chains and traders are very cost-sensitive.
Hey GFXlabs, this is Jean from MUX Protocol. yes we would love to amend the grant size to 250 , 00…
Hey GFXlabs, this is Jean from MUX Protocol. yes we would love to amend the grant size to 250 , 000 . Token distribution will be as following: We propose that the distribution of OP token is for trading incentive. Currently, the trading fee on MUX protocol is 0 . 08 % and no leverage booster fee is charged. The fee model is very competitive in the DEFI space. The OP will be used as trading incentives and the mechanism in which we will distribute the rewards can be found below: Traders will receive 20 % of their trading fee as rebate. The rebate will be calculated based on the trading fee that users paid. The distribution time will depend on the trading volume as well as price of OP. But we are targeting around 6 months. For example, If the average daily trading volume of the first month is $ 15 M, the daily trading fee in total will be $ 12 , 000 , then the first month consumption of OP will be 24 , 000 (assuming the price of OP is at $ 2 . 0 ). The trading incentive will be a strong factor to increase and maximize the number of traders on Optimism since MUX protocol on Optimism will be the cheapest among all chains and traders are very cost-sensitive.
Here comes the update of the proposal -
The proposed distribution of payment : 30 % - 30 % - 40 …
Here comes the update of the proposal -
The proposed distribution of payment : 30 % - 30 % - 40 %, total token requested : 250 , 000
75 , 000 OP token paid upfront
End of March - Target average trading volume of March - $ 2 M/day, Total target of onboarding traders: 500
End of April - Target average trading volume of April - $ 5 M/day, Total target of onboarding traders: 1500
(Completion of milestone 1 , 75 , 000 OP token paid)
End of May - Target average trading volume of May - $ 10 M/day, Total target of onboarding traders: 2500
(Completion of milestone 2 , 100 , 000 OP token paid)
End of June - Target average trading volume of June - $ 20 M/day, Total target of onboarding traders: 3500
(Completion of milestone 3 )
Source of the trading volume, unique users and other statistics -
https://stats.mux.network/public/dashboard/ 13 f 401 da- 31 b 4 - 4 d 35 - 8529 -bb 62 ca 408 de 8
Here comes the update of the proposal - The proposed distribution of payment : 30 % - 30 % - 40 …
Here comes the update of the proposal - The proposed distribution of payment : 30 % - 30 % - 40 %, total token requested : 250 , 000 75 , 000 OP token paid upfront End of March - Target average trading volume of March - $ 2 M/day, Total target of onboarding traders: 500 End of April - Target average trading volume of April - $ 5 M/day, Total target of onboarding traders: 1500 (Completion of milestone 1 , 75 , 000 OP token paid) End of May - Target average trading volume of May - $ 10 M/day, Total target of onboarding traders: 2500 (Completion of milestone 2 , 100 , 000 OP token paid) End of June - Target average trading volume of June - $ 20 M/day, Total target of onboarding traders: 3500 (Completion of milestone 3 ) Source of the trading volume, unique users and other statistics - https://stats.mux.network/public/dashboard/ 13 f 401 da- 31 b 4 - 4 d 35 - 8529 -bb 62 ca 408 de 8 1
This proposal looks good if you edit the above post to include the 250 k OP tokens.
This proposal looks good if you edit the above post to include the 250 k OP tokens.
GrantsOps:
We propose that 30 ( 150 k OP tokens) will be added in the MUX Pool as Protocol O…
GrantsOps:
We propose that 30 ( 150 k OP tokens) will be added in the MUX Pool as Protocol Owned Liquidity (POL). Instead of using funds as traditional liquidity incentive, we will directly put these OP token into our MUXLP pool on Optimism, which brings several positive effects:
Can you clarify whether these tokens would be owned by (and eventually returned to) Optimism governance, or is this a direct grant of property to MUX? If this protocol-owned liquidity is to be owned by MUX, what is the reasoning for it to be a grant rather than a loan, as is sometimes used with traditional market makers?
Thank you.
This proposal looks good if you edit the above post to include the 250 k OP tokens.
This proposal looks good if you edit the above post to include the 250 k OP tokens.
GrantsOps: We propose that 30 ( 150 k OP tokens) will be added in the MUX Pool as Protocol O…
GrantsOps: We propose that 30 ( 150 k OP tokens) will be added in the MUX Pool as Protocol Owned Liquidity (POL). Instead of using funds as traditional liquidity incentive, we will directly put these OP token into our MUXLP pool on Optimism, which brings several positive effects: Can you clarify whether these tokens would be owned by (and eventually returned to) Optimism governance, or is this a direct grant of property to MUX? If this protocol-owned liquidity is to be owned by MUX, what is the reasoning for it to be a grant rather than a loan, as is sometimes used with traditional market makers? Thank you.
Hey GFXlabs,
Thanks for the feedback. But we actually have amended the token distribution - all of …
Hey GFXlabs,
Thanks for the feedback. But we actually have amended the token distribution - all of the token will be used as trading incentives. So there will be no tokens going to the POL(Protocol Owned Liquidity). Thank you!
Hey GFXlabs, Thanks for the feedback. But we actually have amended the token distribution - all of …
Hey GFXlabs, Thanks for the feedback. But we actually have amended the token distribution - all of the token will be used as trading incentives. So there will be no tokens going to the POL(Protocol Owned Liquidity). Thank you!
Edited version of the proposal seems much better and suitable for both parts. There will be no POL …
Edited version of the proposal seems much better and suitable for both parts. There will be no POL $OP so no need to discuss if there will be a refund i got it but i think it would be more effective to add some LP on MuxLP to incentive more volume. But that’s up to Optimism.
Dividing compensation as 3 milestones seems more reasonable too. Those are my thoughts about the proposal but i want to mention more about how it would help to Optimism on below.
Perp trading is in hands of Arbitrum rn. I love to trade on Arbitrum however i don’t like to see the chain all itself might became a monopoly on perp trading. I believe even those volumes should be distrubuted amongs other chains. What makes Arbitrum as perp hub is just the GMX hype around and i believe Optimism could take some volume from Arbitrum easily.
There are few perp protocols on Optimism such as Kwenta, Perp Protocol, Pika and OPX. 3 of them has competin on another type of perp protocol with their unique design and OPX is a fork of GMX. Mux’s perp aggregator might be a great fit on here to aggregate all those protocols and might attract more traders to Optimism Network.
Optimism as a network needs more diversified dapps imo. The network mostly built on top of Synthetix Protocol and has less diversified dapps. Adding Mux into the Optimism incentive program might help to get more dapps to expand here aswell.
MuxLP is also a good way to attract more TVL from other chains. It would help Optimism to gather more TVL and there is an opportunity to built vaults on top of MuxLP which also brings more TVL form other chains. GMX and Arbitrum gets lots of TVL via those “hedged” vaults (which is arguably hedged btw).
Mux Protocol is also launched on 4 different chains too. It might help Optimism to get direct exposure from other chains traders. It’s really easy to switch between chains and Optimsm can show how easy to trade on it’s network to those traders. I would rather to use protocol on Optimsm actually rather than Polygon or BNB network because of low fees + better security assumption + faster transaction and for the god sake no reorgs (yet). This is a gud way to show how Optimism is running smoothly to other users in a one multichain dapp.
Those all are my opinions and wanna talk more about them if u want to ask anything or you find something odd. Pls respond it.
Edited version of the proposal seems much better and suitable for both parts. There will be no POL …
Edited version of the proposal seems much better and suitable for both parts. There will be no POL $OP so no need to discuss if there will be a refund i got it but i think it would be more effective to add some LP on MuxLP to incentive more volume. But that’s up to Optimism. Dividing compensation as 3 milestones seems more reasonable too. Those are my thoughts about the proposal but i want to mention more about how it would help to Optimism on below. Perp trading is in hands of Arbitrum rn. I love to trade on Arbitrum however i don’t like to see the chain all itself might became a monopoly on perp trading. I believe even those volumes should be distrubuted amongs other chains. What makes Arbitrum as perp hub is just the GMX hype around and i believe Optimism could take some volume from Arbitrum easily. There are few perp protocols on Optimism such as Kwenta, Perp Protocol, Pika and OPX. 3 of them has competin on another type of perp protocol with their unique design and OPX is a fork of GMX. Mux’s perp aggregator might be a great fit on here to aggregate all those protocols and might attract more traders to Optimism Network. Optimism as a network needs more diversified dapps imo. The network mostly built on top of Synthetix Protocol and has less diversified dapps. Adding Mux into the Optimism incentive program might help to get more dapps to expand here aswell. MuxLP is also a good way to attract more TVL from other chains. It would help Optimism to gather more TVL and there is an opportunity to built vaults on top of MuxLP which also brings more TVL form other chains. GMX and Arbitrum gets lots of TVL via those “hedged” vaults (which is arguably hedged btw). Mux Protocol is also launched on 4 different chains too. It might help Optimism to get direct exposure from other chains traders. It’s really easy to switch between chains and Optimsm can show how easy to trade on it’s network to those traders. I would rather to use protocol on Optimsm actually rather than Polygon or BNB network because of low fees + better security assumption + faster transaction and for the god sake no reorgs (yet). This is a gud way to show how Optimism is running smoothly to other users in a one multichain dapp. Those all are my opinions and wanna talk more about them if u want to ask anything or you find something odd. Pls respond it.
Hi @JeanM! Can you provide a Telegram handle or other contact method so the Optimism team can get i…
Hi @JeanM! Can you provide a Telegram handle or other contact method so the Optimism team can get in touch about paying out this grant! Feel free to DM or email lavande@optimism.io
Hi @JeanM! Can you provide a Telegram handle or other contact method so the Optimism team can get i…
Hi @JeanM! Can you provide a Telegram handle or other contact method so the Optimism team can get in touch about paying out this grant! Feel free to DM or email lavande@optimism.io
