APX Finance LTIPP Council Recommended Proposal
AI summary
This proposal asks the Arbitrum DAO to approve a grant for APX Finance as part of the Long-Term Incentive Pilot Program (LTIPP). APX Finance aims to bring its decentralized perpetual exchange, currently popular on Binance Smart Chain (BSC), to Arbitrum. The grant would fund incentives to attract users and liquidity to Arbitrum, with a goal of creating a $5 million liquidity pool and increasing trading volume. The plan includes a trading competition and strategies to combine liquidity from BSC with Arbitrum.
If passed, Arbitrum will allocate funds from its treasury to APX Finance to incentivize its expansion onto the Arbitrum network. This could benefit Arbitrum by attracting new users and increasing its Total Value Locked (TVL) and trading activity, potentially at the expense of other protocols competing for liquidity. The exact amount of the grant is not specified in the proposal body, so the financial impact on the treasury cannot be determined.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Link to Application
https://forum.arbitrum.foundation/t/apx-finance-ltipp-application-draft/21744
Council - 3/5 Yes Votes
Feedback
GFX Feedback We found it interesting that the applicant plans to combine the liquidity from BSC and Arbitrum (to Arbitrum’s benefit as the smaller market). The grant plan generally scored well all around. We recommend this grant be approved.
Karel Feedback Vote FOR APX Finance's proposal.
Strong proposal that scored well on rubric. Protocol has great traction on BSC and as evidenced in their various dashboards, and is an opportunity to draw a ne…