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Thales Protocol has submitted a grant application to the Arbitrum community, aiming to incentivize the growth of Thales products on the Arbitrum Network. While the proposal has received largely positive feedback, some community members have expressed concerns about the allocation of the grant and the perceived insufficient Total Value Locked (TVL) created by the grant amount received in Optimism.
Thales Protocol, represented by Padzank, has submitted a grant application to the Arbitrum community1. The grant, amounting to 500,000 ARB with a matching grant of 200,000 THALES, is intended to incentivize the growth of Thales products on the Arbitrum Network1. Thales Protocol is a fully on-chain and permissionless liquidity and AMM solution for any type of Exclusive Outcome Markets1. The team has developed five novel Automated Market Makers (AMMs) that have driven a total buy volume of $39M across products and attracted approximately 24,000 unique users1.
The community's reaction to the proposal has been largely positive. Matt_StableLab confirmed that the revised submission now met all requirements for consideration in a snapshot vote6. Jayref, ArbUSER, Svenska, IZUMi_Finance, and SEEDGov have expressed their support for the proposal5,7,8,15,16. MotusCM praised Thales' innovative AMM architecture and expressed support for their grant proposal, but requested more clarity on how decisions about specific product incentives would be made3. CastleCapital also supported the proposal, but suggested that it could be improved by providing more details on how the grant will be used among specific products and by providing performance metrics related to Arbitrum-specific activity12. ITUblockchain, while acknowledging the uniqueness of Thales' AMM products, initially decided to abstain from voting due to concerns about the allocation of the grant and the perceived insufficient TVL created by the grant amount received in Optimism17. However, after a detailed explanation from Padzank, ITUblockchain thanked them for making the proposal clearer19.
The grant proposal is seen as a positive move as it aims to incentivize the growth of Thales products on the Arbitrum Network, potentially increasing the adoption of the network1. Thales has shown stronger growth metrics on competing Layer 2 (L2) networks due to an early deployment and receiving network grants1. The proposed Arbitrum (ARB) grant could incentivize better growth of the Arbitrum deployment, attracting unique users and showcasing superior growth metrics compared to other L2 deployments1. Thales' innovative AMM architecture has also been praised by the community3.
Some community members have expressed concerns about the allocation of the grant and the perceived insufficient TVL created by the grant amount received in Optimism17. However, Padzank clarified that TVL growth is not a KPI that determines the success of Thales products due to their unique collateralization and AMM architecture18. They also highlighted that the performance of their products should be evaluated by onchain activity such as unique users, fee accrual, and volume18.
Posted 2 months ago
Last reply 2 months ago
Summary updated 24 days ago
Last updated 03/12 08:01