Optimism Grant for RangoExchange the first cross-chain DEX and Bridge aggregator

Project Name: Rango exchange

Author name and contact info:


Telegram ID: @Rango_marketing

Discord: Martin_Rangoexchange#7542

E-mail: Marketing@rango.exchange

I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes

L2 Recipient Address:

Which Voting Cycle are you applying for? Cycle-11

Grant category: Tooling / DeFi

Is this proposal applicable to a specific committee?

Project description:

Rango is the leading cross-chain DEX and bridge aggregator that unlocks seamless interoperability between more than 50 different blockchains, including many EVM chains, Cosmos-based chains, ZK Rollups like Starknet, Solana, and UTXO. Our B2C solutions empower users to easily transfer assets across diverse blockchain networks without any friction, reducing the complexities that come with multi-chain operations.
In addition to our B2C solutions, we offer an SDK/API that provides developers with the tools they need to create custom cross-chain solutions. With Rango’s technology, other projects can now access our infrastructure and expand their liquidity and user base with ease, enabling a new era of interoperability within the blockchain industry.

Project links:

Dapp site: Rango Exchange - Swap everything everywhere, Eth, Bsc, Terra, Poly

Relevant Usage Metrics: (TVL, transactions, volume, unique addresses, etc.)

Unique wallet: +130,000

Total volume TXs: $ 2.27 B

Total successful swap: 1.01 million

Supported chains: 53

Supported DEXes & DEX Aggregators: 51

Supported bridges: 20

Relevant Usage Metrics in Optimism:

Total transactions from other blockchains to Optimism: $44.87 Million in 1 year.

Total transactions from Optimism to the other blockchains: $89.27 million in 1 year

Competitors, peers, or similar projects:

All DEX and bridge aggregators such as: Socket, Lifi, Rubic ,Via, etc.
Rubic and Via use Rango’s SDK.

Is/will this project be open sourced?
Open source and audited contracts, can be found in our Github

Date of deployment/expected deployment on Optimism: Feb 2022

Ecosystem Value Proposition:

For users, Rango provides a simple and secure way to swap and transfer their assets from other chains to Optimism. Users can choose from a variety of supported chains, such as Bitcoin, BSC, Starknet, Polygon, Osmosis, Solana and more. By using Rango, users can enjoy the benefits of Optimism without having to deal with complex technical details or compatibility issues. Rango also offers a SDK that can be integrated into any DApp built on Optimism, allowing users to interact with other chains within the same interface.

For the ecosystem projects and dApps, Rango offers a powerful and flexible way to connect with other blockchains and networks. dApps and ecosystem projects can use Rango’s API and SDK to build custom cross-chain solutions that suit their specific needs and goals. By using Rango, dApps can leverage the full potential of Optimism’s Layer 2 technology and unlock new business opportunities, increase efficiency and reduce costs. Rango also helps dApps maintain security by ensuring that all cross-chain transactions are verified and audited.

Rango currently supports a variety of protocols deployed on Optimism, including but not limited to:

Bridges: Optimism Bridge, Across Bridge, CBridge, MultiChain, Hop Protocol, Hyphen, Synapse, Orbiter, Stargate, RouterProtocol, XYFinance

DEXes: 1inch, OpenOcean, ParaSwap

Other projects that integrated Rango’s SDK: Via, Rubic, Pangolin, THORWallet, InfinityWallet, MeanFinance, etc.

Has your project previously applied for an OP grant?

Number of OP tokens requested:
250,000 $OP

Proposal for token distribution:

As a leading DEX and bridge aggregator, Rango is committed to simplifying the process of onboarding to Optimism. We understand that cross-chain interoperability is critical to the growth and success of the blockchain industry, which is why we want to offer gamified incentives and marketing campaigns to encourage users to get started on Optimism and engage with the ecosystem project.
Additionally, we want to provide incentives and technical support to projects seeking to enable bridging to Optimism through Rango’s API/SDK. Our goal is to make it as easy as possible for both users and projects to onboard and leverage the benefits of Optimism’s Layer 2 technology.

How will the OP tokens be distributed?

1. Marketing campaign (50%):

We have launched a unique marketing campaign that incorporates gamification to attract more users and volume. The campaign is called the “Badge Quest” and has proven to be very successful in achieving our goals.

You can find more details about the “Badge Quest

We want to create Badges for Optimism and launch 3 campaigns in 1 year where users start the cross-chain bridge and swap into the Optimism.

2. Support projects to integrate our SDK that they want to build on Optimism.(50%)

We’re dedicated to expanding the reach of the Optimism ecosystem by incentivizing and providing support to projects that facilitate cross-chain interoperability. As part of this commitment, we want to offer grants to projects that seek to integrate with Optimism, with funding ranging from smaller amounts (<8k) for straightforward SDK/widget integrations to larger sums for more intricate integrations that involve cross-chain contract calls. Our priority is to work with projects deployed on Optimism that are looking for the feature to bridge from other chains or projects that are deployed on other chains and want to move to Optimism.
Alongside incentive and support, we’re also providing technical hands-on dev support and content marketing assistance to both small and large projects. Our ultimate goal is to make it effortless for projects of all sizes and complexity levels to connect with Optimism and onboard users from other chains, ultimately resulting in a more dynamic and thriving ecosystem.

Additionally, we’ll be organizing trading campaigns for projects to further promote cross-chain interoperability and adoption within the Optimism network.

3. We also will integrate with Velodrome (largest Optimism DEX wrt TVL) and UniSwapV3 on Optimism. (Free of charge)

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

For marketing campaign:
We need to send awards to users one week after we announce winners.

For B2B side:
The estimated distribution period is approximately 6-12 months, but this may be subject to change based on various external factors, such as market development, adoption rates among developers and users, and the pace of project integrations.

Please list the milestones/KPIs you expect to achieve for each initiative, considering how each relates to incentivizing sustainable usage and liquidity on Optimism. Please keep in mind that progress towards these milestones/KPIs should be trackable.

For marketing campaigns:

  • Number of new users acquired through the Badge Quest
  • Number of unique wallets that will join into the Badge Quest
  • Total trading volume generated during the campaign period

For B2B:

  • Number of projects granted funding for integrating with Optimism via Rango
  • Total amount of funding granted to projects for integration

Why will the incentivized users and liquidity remain after incentives dry up?

There are several reasons why incentivized users may remain active after the incentives dry up:

  1. Improved user experience: By onboarding and moving in the ecosystem through our website or integrated ecosystem projects, users may find that their trading experience is smoother and more efficient than other ecosystems. This could incentivize them to continue trading and activity on optimism even after the incentives dry up.
  2. Supported dApps that build/deploy on Optimism will continue creating value and attract users to the blockchain.
  3. Community engagement: We strive to build an engaged and supportive community around our platform. This can help to create a sense of belonging and loyalty among users, which could encourage them to continue using our platform even without incentives.
  4. Network effects: As more users join our platform, it becomes increasingly valuable to stay active and engaged. This is because users can benefit from network effects, such as increased liquidity and more diverse trading options.
  5. Brand recognition: By participating in the incentivized campaign, users may become more familiar with Optimism and our brand and develop a positive association with it. This could lead to increased brand loyalty and continued usage of Optimism dApps and ecosystem projects.

Overall, while incentives can be a powerful tool for attracting new users and liquidity, there are many other factors such as ease of use and user experience that can encourage users to continue using Optimism dApps and services even after the incentives dry up.