[DRAFT][GF: Phase 1] Giottus

Basic Details

Project name: Giottus

Author name and contact info (please provide a reliable point of contact for the project.): Kiran, kiran@giottus.com, +91 8870339969 (WhatsApp)

L2 recipient address: 0x0f81d768e5dc9c28A16a6adD5864F88588C650B8

Which Voting Cycle are you applying for?: Cycle 11

I confirm that I have read the landing pages for the Builders and Growth Experiments Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee: [Yes/No]: Yes

I understand that Growth Experiments grants are subject to a “no sale rule,” as explained in this post, and I have read the terms of the rule: [Yes/No]: Yes

Project Details

What are you building?: As we are one of the first Indian exchange to have listed Optimism (OP) token, we are looking to integrate the native network, the Optimism Mainnet, which will prove beneficial to our user base.

Why do you believe what you are building is going to succeed?: Because we believe Ethereum is going to be the leader in the Dapp ecosystem and their scaling solution will play a major role in it.

How many users does your project have currently? Please include how you arrived at this estimate: 1.2 million users (web+app). The numbers can be verified on the playstore while website users are internal data.

How will receiving a grant enable you to further the mission of maximising the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism:

Giottus, as an crypto exchange, has the following processes (tested strategies) ready to be executed to maximise the number of users interacting with Optimism.

Assuming the integration of mainnet is done:


  1. We will send an internal mail to our customer base announcing the successful integration of Optimism

  2. We will enable recurrent push notifications

  3. We will write articles about basics of Optimism, how the tokens can be purchased and how to use the Optimism mainnet for eth transfers (giottus official blog, third-party newsletter, medium article)

  4. Social media promotions (text, image, video posts through Youtube, Telegram, Twitter, Instagram, Facebook, LinkedIn)

  5. AMA with key people from Optimism

  6. Trading competition to create awareness and deposit campaigns (using Op mainnet) to be conducted


  1. We will collaborate with social media influencers
  • Top 5 Indian Regional Language (Hindi,Tamil,Telugu,Malayalam,Kannada)

  • Overview of Optimism Networks & Trading via giottus using INR

  1. Offline meet up in specific locations

  2. Twitter trending (like #GiottusOptimism)

Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them.:

We will target users predominantly from the Southern part of India because that’s where our presence is strong. Users fall between the age group of 25-40 who have an online presence on Twitter, Telegram and mainly Youtube (because we have a list of influencers with whom we collaborate often and they offer us high ROI on any action point we desire)

How would these users interact with Optimism? For how long?: They would mainly use it for transfers from/to our exchange. Given the nature of businesses, there would be a subset of users using the mainnet for transfers all the time.

Provide us with links to any of the following for the project:

Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Giottus trade volume and market listings | CoinMarketCap

Who are your competitors, and are they on Optimism?: No, no other Indian exchange has native mainnet.


Who are your founders?: Arjun Vijay and Vikram Subburaj

What makes your team well-suited to carry out the project described in this proposal? My team has been responsible for running the exchange successfully for 5 years which shows persistence in the game even when the regulatory clarity was still lacking and multiple crackdowns on Indian exchanges. Furthermore, we have strategically aligned our vision to be a wealth creating platform for our customers by launching various products like SIPs, Baskets, Staking, Fixed deposits etc which showcases our innovativeness.

Is this your first Web3 project?: No

If not, what else have you built? (Share links, Github repository, or any other useful information.):

Grant Request

What is the size of the grant request? (250k OP max): 3400 OP

How do you justify the size of the grant?: 50% will be used to integrate the mainnet (dev cost and maintenance cost), around 1700 OP (close to $5000) will be used to promote the OP ecosystem through a series of activities mentioned above.

Roadmap and Distribution Plan

Describe in discrete steps how you will successfully implement your grant plan:

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. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc. See the no sale rule here ):

Over what period of time will the tokens be distributed for each initiative?: 1 month

Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone:

  1. General awareness about Optimism protocol among the Indian investor community.

  2. Since we are the one and only exchange to have integrated Optimism in India, we can create good buzz using giveaways and trading competition.

  3. Our marketing strategy will create incentives to transact Optimism tokens.

  4. Also, we will nudge users to use the Optimism network for transactions.

Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone:

  1. Since it’s the first time we are going to do a mainnet integration other than Ethereum, it’s tough to estimate the critical milestone. But to be practical, we are aiming for more than 1000 deposits through OP mainnet in the initial phase of the plans.

  2. Number of users buying OP tokens (as a way to gauge the reach) will be between 5,000-50,000.

If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?: Our exchange has been fruitful in conducting businesses even in a bear market, so users would continue to use the OP ecosystem post the incentives drying up scenario.

Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): Since we are an CEX, you can visit our page on coinmarketcap.

Optimism Relationship

Does your project solve a problem for the Optimism ecosystem? If so how?: It doesn’t solve any problem per se.

Why will this solution be a source of growth for the Optimism ecosystem?: India, home to more than 15 million crypto users according to current sources, will likely continue to onboard the next 100 million onto the crypto space and us integrating Optimism will contribute a sizeable factor for the growth of the ecosystem.

Is your project Optimism Native?: Yes


I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: [Yes/No]: Yes

I understand that I will be expected to following the public grant reporting requirements outlined here: [Yes/No]: Yes


Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period.

At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.

Just to confirm, these OP tokens are not to be sold by the grant recipient (Giottus). If you can confirm the tokens will not be sold to cover expenses, that would be helpful.

We recommend more specificity, since these milestones will be how the community will judge your grant plan as a success or failure. A possible benchmark milestone could be “Promote awareness about Optimism among the Indian investor community by publishing 3 articles and 1 YouTube short no later than X. Links to the articles and short will be published on this thread by the same date.”

While benchmark milestones are “soft” and are not tied directly to unlocking grant funds, critical milestones must be met to unlock funds not provided in the initial tranche of the grant. For your own benefit, we recommend they be clear and unambiguous. An example might be, “Giottus receives at least 1000 deposits through Optimism no later than X date. Giottus will provide the Grants Council with data to easily verify this.”

Further guidance on milestones can be found here: Milestone Assessment

Thank you, and GFX Labs or other Grants Council members will follow up here with any further questions throughout the process. Do not hesitate to ask questions here (tagging whichever Council Member a question is for, or @GrantsOps generally, will increase the speed of response).


@kiranpaval.eth making sure you have seen the comments from GFX above.

1 Like

Hi @GFXlabs, thanks for responding to the proposal. To answer your questions, here’s a refined one:

  1. We (Giottus) will not sell OP tokens for expenses. It will be solely used for community purposes.
  • General awareness about Optimism protocol among the Indian investor community by publishing 30 image posts on Twitter, Instagram, Facebook. 5 videos on Youtube, YT shorts and on all socials.
  • Since we are the one and only exchange to have integrated Optimism in India, we can create good buzz using 3 giveaways and 2 trading competition.
  • Banners and coin buy button will be strategically placed to increase the likelihood of OP tokens.
  • We will make available OP mainnet option for transfers by highlighting low fees.
  1. We are aiming for at least 700 deposits through OP mainnet in not more than 4 months.
  2. Number of users buying OP tokens (as a way to gauge the reach) will be between 5,000-10,000.

Kindly review and let us know the status. Thank you @GrantsOps