Steer LTIPP Council Recommended Proposal
AI summary
This proposal asks the Arbitrum DAO to approve a grant for Steer Protocol, a platform that helps manage liquidity on decentralized exchanges (DEXs). The grant is part of the Long-Term Incentive Pilot Program (LTIPP) and aims to support Steer's growth and user adoption. Steer Protocol offers innovative strategies, including integrating Real World Assets (RWAs) to generate yield for liquidity providers, providing an alternative to traditional liquidity mining incentives.
If passed, Steer Protocol will receive a grant from the Arbitrum treasury, though the specific dollar amount is not mentioned in the proposal body. This could increase competition in liquidity management services on Arbitrum, potentially benefiting users through better cost points. Steer Protocol and its users would benefit from the funding, while the Arbitrum treasury would see a reduction in its funds.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Link to Application
https://forum.arbitrum.foundation/t/steer-protocol-ltipp-application-draft/22089
Council - 3/3 Yes Votes
Feedback
GFX Feedback) Steer is operating in a crowded field (liquidity management on DEXs) but in a niche with large TAM and growing adoption over the past few months. We would like to see dropped from this grant plan any subsidies for pools with competing chain tokens (e.g. wAVAX), and the size of the grant is large for a relatively commoditized space. Nevertheless, we recommend approving this grant based on the demonstrated early growth in user adoptio…