We’re pleased to share the final results of Cycle 33, marking the successful completion of the first cycle under Season 7.
Key Outcomes
- Applications Approved: 7
- Applications Deferred to Cycle 34: 12
- Applications Declined on Final step: 8
- Approved Audit Applications: 3
Funding Overview
- Total OP Granted for TVL Growth: 4,700,000 OP
- Total OP Granted for Audits: 150,930 OP
- Remaining Budget: ~4.65M OP (to roll over for future cycles)
Many applications were pushed to the next cycle due to missing answers or the need for projects to adapt to interoperability requirements.
Cycle 34 Outlook
- 28 new applications for TVL Growth submitted
- 21 Audit Requests submitted
Process & Improvements
Thanks to the Developer Advisory Board (DAB) for their insights on all Final Review applications. No process or milestone was delayed during the entire cycle, a strong achievement for our first iteration.
We are making iterations to the rubric and application form, and GrantNerds will ensure applicants receive the necessary guidance.
Major Decision: Orange Chain Deployments
One of the biggest decisions this cycle was the mandatory requirement for projects deployed only on Orange Chains (based on the registry) to either:
Deploy on at least one Green Chain
OR
Add co-incentives to their grant request
We appreciate the efforts of all applicants, reviewers, and stakeholders in Cycle 33 and look forward to refining and scaling the process in Cycle 34! 
Here is the final list of Cycle 33:
| Velodrome Finance | Passed | 1,000,000 |
|---|---|---|
| Moonwell Core Markets (Base + OP Mainnet) | Passed | 200,000 |
| Aerodrome Finance | Passed | 650,000 |
| Kyo Finance on Soneium | Passed | 250,000 |
| Alchemix AAVE ETH/USDC Vault Grant | Passed | 100,000 |
| Morpho (Base) Grant Application | Passed | 500,000 |
| Spark Liquidity Layer and Savings Deployment on Optimism and Ink | Passed | 2,000,000 |
| Pendle x Ethena: Bootstrapping USDe/sUSDe TVL on Base | Pushed to Cycle 34 | 1,000,000 |
| BMX Grant | Pushed to Cycle 34 | 225,000 |
| Anzen - RWA backed stablecoin | Pushed to Cycle 34 | 500,000 |
| Extrafi S7 Grant Application | Pushed to Cycle 34 | 500,000 |
| f(x) Protocol deployment on Base | Pushed to Cycle 34 | 100,000 |
| Mode DeFAI Application | Pushed to Cycle 34 | 600,000 |
| Arcadia Finance | Pushed to Cycle 34 | 164,000 |
| iETH | Pushed to Cycle 34 | 50,000 |
| Morpho Incentives | Pushed to Cycle 34 | 1,000,000 |
| Neemo Finance application | Pushed to Cycle 34 | 100,000 |
| Sonus Exchange S7 Incentives Application | Pushed to Cycle 34 | 50,000 |
| WOOFi Superchain grant application | Pushed to Cycle 34 | 150,000 |
| InkyPump & InkySwap: Driving Sustainable TVL Growth on Superchain | Declined | 200,000 |
| The Deep: incentive engine to drive TVL for the Superchain | Declined | 600,000 |
| Infinex Grant | Declined | 600,000 |
| Overtime Grant | Declined | 299,998 |
| QuickSwap Application for OP Grant - Growing TVL on Soneium (Superchain) | Declined | 250,000 |
| Restaking Interoperability for Superchain / Mellow Protocol | Declined | 500,000 |
| Treehouse x Lido: Bringing tETH, wstETH TVL to Base | Declined | 600,000 |
| Uniswap on Base | Declined | 650,000 |