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KyberSwap, a DEX aggregator, is seeking a 1.5 million ARB token grant to boost liquidity on Arbitrum, aiming to double their TVL and trading volume, but faces mixed community reactions over the strategy and long-term benefits. The proposal, now marked FINAL, includes matching funds, detailed KPIs, and plans for liquidity partnerships, with a Snapshot vote upcoming to decide its fate.
KyberSwap, a multi-chain DEX aggregator and DEX that is part of the Kyber Network, has applied for a grant under the Lighthouse Grant category. They are requesting 1.5 million ARB tokens to fund liquidity mining incentives on Arbitrum, with the goal of doubling their TVL and increasing their trading volume. KyberSwap has been live on Arbitrum for over 9 months, with a TVL greater than $17M and a 30-day cumulative volume exceeding $120M. They propose to match the grant with 150,000 KNC and have outlined a detailed execution strategy for distributing the incentives across various liquidity pools over a three-month period.
The community's reaction is mixed. Some members, like Jonezee and EynSoph, support KyberSwap's commitment to Arbitrum and the potential positive impact on the ecosystem. Others, such as Flindy and Thatgovernanceguy64, express skepticism about the grant request, questioning the strategy and the benefit to the ARB ecosystem. Concerns were also raised about KyberSwap's long-term commitment to Arbitrum and the issue of "mercenary capital." Sasha_mai has responded to various concerns, offering a compromise on the grant amount and emphasizing KyberSwap's sustainability. The proposal has been updated to request 1.5M ARB and has been marked FINAL by [Cliffton.eth.
##) Why this is positive?
Posted 2 months ago
Last reply 17 days ago
Summary updated 11 days ago
Last updated 05/12 01:14