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The 'Relay Chain: James Bot' project, built in Rust, aims to position Arbitrum as the premier bot trading platform, with a grant request of 400,000 ARB. However, the community has mixed reactions, with concerns about the high grant amount for a not-yet-live project, misuse of funds for non-permitted activities, and lack of clarity on how the grant will foster growth or innovation.
The discussion revolves around a project named 'Relay Chain: James Bot' introduced by Christian1. The bot, built in Rust, is a native telegram bot to Arbitrum with custom indexes and Vela integration for perpetual traders1. The project team has requested a grant of 400,000 ARB, with a plan to match grant funds through a 1% fee on all James Bot transactions1. The grant will be distributed with 75% going towards Telegram Bot Incentives and 25% towards Discord Bot Incentives1. The primary objective of the project is to position Arbitrum as the premier bot trading platform1.
The community reaction to the proposal is mixed. Matt_StableLab pointed out that the grant funds can only be used to incentivize Arbitrum contracts and not for integrations or deploying a platform on Discord2. Flindy criticized the proposal for not clearly articulating why the grant will foster growth or innovation within Arbitrum4. Whereismymind defended the grant proposal for Relay, citing their proven track record in bringing value to ecosystems6. ITUblockchain expressed concerns about granting a high amount of tokens to a project that has not gone live yet15.
The proposal is seen as a positive move as it aims to position Arbitrum as the premier bot trading platform1. The team behind the project has a proven track record, with Relay Chain facilitating bridging for over 2 years, with more than $1 billion in trading volume, serving 25 chains, 15 bridges, and 31 exchanges, and reaching a peak TVL of over $100 million1. The project also plans to match grant funds through a 1% fee on all James Bot transactions, which could potentially increase the value of ARB tokens1.
The negative aspects of the proposal include concerns about the high amount of tokens being granted to a project that has not yet gone live15. There are also concerns about the grant funds being used for integrations or deploying a platform on Discord, which is not allowed2. The proposal has also been criticized for not clearly articulating why the grant will foster growth or innovation within Arbitrum4.
Posted 2 months ago
Last reply 2 months ago
Summary updated a month ago
Last updated 05/12 01:14