[READY] [GF: Phase 1 Proposal] WardenSwap

đź“ś Grant Proposals Governance Fund: Phase 1
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Project Name : WardenSwap

Author Name: Panas

Number of OP tokens requested: 300,000

L2 Recipient Address: 0xc146a672c85b408a9a7bc00f74ad567b7684134c

Overview of WardenSwap:

WardenSwap is the real-time best rate DEXes aggregator using AI Power to deliver the very best swap rates and lowest gas price from all markets in one place on wardenswap.finance.

WardenSwap is proposing the idea of a sustainable ecosystem alongside the pillar of creating a strong community. WardenSwap launched MetaWarden, a NFT project which is aimed to boost the circular economy and community around the WardenSwap ecosystem. Furthermore, with 3 types of SDK for dApp developers to operate WardenSwap elsewhere.

WardenSwap is live on Optimism, building on top of the concept of Data optimization method to pull out smaller data stored on Ethereum which causes lower gas cost by introducing compression techniques to make the Calldata smaller using “Address Table” and “Data Serialization”. ( WardenSwap 2.0 on Optimism)

Relevant Usage Metrics

Here are our metrics, all number is on the time of writing (17 June)

Transaction
Total Transaction: 1,113,100 tx
Total Optimism Transaction: 11,097 tx (Since 19 April, 60 days)

Volume
Total trading volume: $4,276,184,771 (All Chains)
Total Optimism volume: $3,392,877 (Since 19 April, 60 days)

Unique address
Total unique address: 70,119 addresses
Unique address on Optimism: 2,293 addresses

Optimism alignment

WardenSwap hopes to encourage growth within the Optimism ecosystem by using subsidies, we hope to support the integrations and developments within L2. In addition, we want to sustainably boost Optimism and run with a good level of liquidity in order to migrate more of our activities to Optimism in the future.

  • WardenSwap will automatically locate the best swap rates and best gas across multiple pools for swappers on the Optimism network, providing them the best pricing. With the WardenSwap 2.0 Bloodstone upgrade, our splitting feature can split the trading volume to be as small as 1% in trading size in order to get a better price (the previous minimum trading size was 10%). This means the more it splits, the better price users will get

  • WardenSwap allows for community integrations by providing SDK which can freely integrate with WardenSwap by using our open-source (See gitbook for more information).
    3 types of SDK we provided effortless and friendly to our community

  1. Library For developers
  2. Customizable UI Kits that we ensure it is easy to implement
  3. Referral link program for both dApp and users
    These 3 SDK construct as another monetization strategy to earn the profit sharing from trading fees.
  • WardenSwap is supporting the Optimism ecosystem including NFT collection and product. We propose the use case of NFT on Optimism through a discount of trading fee. It is now shown that 40% of users on the Optimism chain in WardenSwap owned Optipunk.

To summarize:
WardenSwap aims to build a community by providing both of the best trading experience for users on Optimism and adopt the ecosystem of Optimism at the same time.

Proposal for token distribution

How will the OP tokens be distributed? Currently, the following distribution will be proposed:

Builders (25%) :building_construction:

On top of WardenSwap, we have shown what can be done with our SDK tool for dApp developers, WardenSwap will create a thriving Optimism ecology and encourage the builders who successfully integrate WardenSwap in the Optimism ecosystem, with all support and a bonus plan depending on the metrics. Further by the Grants Program or Hackathon, WardenSwap aims to back up dApp developers to fund the project, selecting by community which is Optimism related. These are examples of our vision to dedicate ourselves for public goods that benefit the entire community and align with the Optimism ideal.

Traders (20%) :money_with_wings:

$OP will be incentive directly to the users of WardenSwap on Optimism as an opportunity to early adopter, active users, along with new users to increase the activity of trading in WardenSwap on Optimism. However, we believe that experience that traders will get from Optimism is absolutely valuable, and it will attract more activity on its own.

Referral Program (10%) :link:

WardenSwap will also distribute $OP to referral programs users which benefit referrers who use referral link programs on Optimism through WardenSwap to spread the power of Optimism.

Marketing: Ecosystem & Optimism Representing (35%) :studio_microphone:

$OP will be used as a part of marketing campaigns targeted on Optimism, including the events for the WardenSwap community that make impact on Optimism, the competition which can take in many forms for different contributors such as researchers, and content creators. Also incentive to influencers that help the WardenSwap community on Optimism to create marketing programs and promotion.

Development & Maintenance (10%) :houses:

$OP will be dedicated to cover the development and maintenance cost of Optimism related project

How will this distribution incentivize usage and liquidity on Optimism?

More users will be enticed to join WardenSwap as a result of these distributions, giving the protocol more usage. In combination with the developer subsidies it would strongly encourage developers to switch to Optimism.

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

We build things that last long
WardenSwap knows that incentive programs will never last long, but we have absolute trust in smart contracts that are built on Optimism will be long lasting.WardenSwap always carry on our mission to deliver the best swap rates and best gas across multiple pools, which will stay to benefit WardenSwap users on Optimism to brings about a better outcome (Yes, save users’ money).

How much will your project match in co-incentives?

We are currently unable to co-incentivize, but we may work on it in as a campaign that is related to Optimism, also we do believe in the future of Optimism that there is a lot of opportunity, WardenSwap will move along forward to work with other Optimism’s partners which help Optimism to strengthen their community.

Over what period of time will the tokens be distributed?

According to WardenSwap’s plan, the $OP tokens will be distributed within a 1 year period.

62 Likes
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Thank you, Panas, for putting this proposal together. WARDEN’s spirit of boosting the Optimism ecosystem and incentivizing the users is admirable.

However, I propose that the budget for incentivizing users and builders be separated in order to preserve the “Public Good Funding” ethos of Optimism and transparency. A high priority should be given to the projects that build on top of WARDEN’s SDK. Optimism’s ecosystem will be more sustainable as a whole.

9 Likes
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great, I agree with this idea.

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4

Hi! Your “traders & builders” section includes at least 4 different groups to incentivize: retroactive traders; future traders; referrers; and builders. Can you provide more detail on what % of the tokens you would allocate to each of those 4 groups?

I am generally interested in marketing activities - can you provide any more detail on what type of promotional campaigns you intend to engage in?

1 Like
5

I second this. I think the distribution for traders and builders should be separated. Builders should be prioritized in order to expand Optimism ecosystem as well as Warden itself.

For Metawarden, not sure if the team has plan to release a collection specifically on Optimism network? Perhaps providing a privilege for the original Metawarden like a whitelist for minting would be a good idea to attract those NFT holders to Optimism. An idea to be able to bridge Metawarden to OP is interesting as well.

4 Likes
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Wow. Warden is the best

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7

Is it possible to break this into two section? one for users and other for dev?

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8

I really love wardenswap and I like this idea.

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9

+1 for this. 55% is the majority portion, so would be great to see how the breakdown.

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10

good job :grinning: i love warden

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11

Thank you @investgineer, we also see the point that you have mentioned. We will continue to collect all feedback and keep going forward. :star_struck:

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Hi @Justin, thank you for your feedback. We will elaborate more detail in the Incentivization part.

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Hi @OPUser, Thanks for your feedback. As we also see that it is really important to elaborate more in those section. We will fix this ASAP :face_with_monocle:

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14

Support this project :ok_hand:

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15

I always swap here every chain

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16

I definitely agree with you. Support this project.

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17

Warden is the best and Mwad is so beautiful.

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18

support this warden is such a creative DEX

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19

Agree. I like to use warden for swapping.

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20

Love this :sparkling_heart: Warden is the fantastic DEX. The 55% for traders & builders sounds awesome :star_struck:

1 Like