[DRAFT(2)] [GF: Phase 1 Proposal] Sonne Finance

ARCHIVED & OLD Missions Grants Council Cycle 10-11
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i buy sonne at 0.3$ lol ;))))

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Update Following the Successful Audit and Initiation of OP Token Distribution

Dear Optimism Community,

Here is the further update for the grant distribution and incentivization going on Sonne Finance:

  1. Total Value Locked (TVL): With the increased engagement we are seeing on our platform, we aim to achieve substantial growth in our TVL. Our targets are as follows:
  • $40M TVL within one month, by around July 20, 2023. ✓
  • $70M TVL within three months.
  • $100M TVL within six months.
  1. Number of Wallets Staking SONNE: We aimed to stimulate increased staking of SONNE tokens in individual wallets. The milestones we were targeting are already reached:
  • 2,000 wallets staking SONNE within one month. ✓
  • 4,000 wallets staking SONNE within three months.✓
  • 8,000 wallets staking SONNE within six months.
  1. Total Borrowing Activity: Our objective is to maintain Sonne Finance as the top protocol for total borrowing activity on the Optimism network. We’ve set the following targets for ourselves:
  • $100M total borrows within one month, by around July 20, 2023.
  • $130M total borrows within three months.
  • $160M total borrows within six months.
  1. Liquidity of SONNE on Velodrome: In our effort to reduce slippage, we aim to enhance the liquidity of SONNE on Velodrome. Our aims are:
  • $1.2M within one month by around July 20, 2023 ✓
  • $1.5M within three months ✓
  • $1.8M within six months.

We’d again like to take this opportunity to thank the Optimism community for the ongoing support. As the first and only native liquidity market on Optimism, we are committed to contributing to the network’s success and we are excited to share our journey with you.

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