Link to Application

https://forum.arbitrum.foundation/t/primex-finance-ltipp-application-draft/21806

Council - 2/4 Yes Votes

Feedback

Karel feedback) "Vote FOR Primex's proposal.

Good proposal that scored decently on rubric. Interesting model allowing you to leverage + hedge LP through lending markets and like the achievement (points) system to gamify activity. Current levels of adoption is lacking. It's a somewhat large requested grant size which is at par to current TVL to-date on Arbitrum and relative to their activity. Objectives are lofty (boosting TVL to $2.2M - ~24x what it is today on Arbitrum) but could be a worthwhile investment for the DAO to help bootstrap them the protocol. Will receive grant only if they achieve KPIs. For bringing this to the DAO."

404 Feedback) Primex provided very little links for the council to verify the data presented, but after looking through their app, we see that’ve begun to get some traction on Arbitrum. The grant ask is a little high relative to their current usage and we would have appreciated more granular details around how they plan to raise their utilization across some of their targeted pools. Overall though we were pleased with their execution strategy and milestones and believe this should move to a DAO vote, given the relatively low ask and current traction starting to increase.

GFX Feedback) The grant proposal could have been significantly strengthened by identifying a past success, presenting data on the cost effectiveness of that mechanism, and then utilizing the grant funds to scale or replicate that prior success.

GMX Feedback Firstly, while the requested grant size seems justified based on the outlined incentive program, the objectives and execution strategy lack specificity and clarity. The proposal lacks detailed plans for achieving the stated goals, such as boosting liquidity and increasing trading volume, within the specified timeline. We are not generally supportive of Primex Finance’s application. The DEX space is heavily saturated and it’s not clear to me what exactly Primex brings that’s new to the space.

Wintermute Feedback: Conflict of interest