Arbitrum incentive program launched, Wintermute recommended 5 projects and reasons for support

Author: Callen

Translator: Deep Tide TechFlow

Wintermute announces plans to support the following applicant projects in the first round of the Arbitrum short-term incentive program.

Incentive Selection Criteria

Our selection process is based on the following core criteria. Selection criteria:

• Bitcoin’s new proposal BitVM interpretation Bitcoin Turing complete without the need for fork
• Inventory of 16 Israeli concept coins worth paying attention to, with infrastructure and DeFi as the main force.
• Is Grayscale’s September report too optimistic? A study of Bitcoin’s on-chain performance in September.

• Alignment with STIP incentive program goals – Applications should align with the goals of the program;
• Innovative incentive design – Innovative incentive design is a plus, as it will provide new data and insights;
• Reasonable incentive scale – Given the short timeframe, the incentive scale must be reasonable and have a clear token distribution outline;
• Potential long-term benefits – The incentive design has the potential to bring long-term benefits.

However, projects do not necessarily need to meet all of these criteria.

Selected Applicants

We have selected the following 5 protocols to support once the first round of voting begins:

1. Vertex Protocol – 1.8 to 3 million ARB;
2. Balancer – 1.2 million ARB;
3. Socket – 1 million ARB;
4. RabbitHole – 1 million ARB;
5. Angle Protocol – 200,000 to 700,000 ARB.

Reasons for Selection

Vertex Protocol

Vertex Protocol has proven its ability to attract users, liquidity providers, and trading volume on Arbitrum by providing a highly professional trading experience. The incentive amount is high, but we like that it expands with the success of the plan and any unused funds will be refunded. Overall, the incentive goal aligns with the goals of the short-term incentive program; cost reduction will position Vertex ahead of CEX competitors and is expected to attract users; the democratization of incentive order book LPing adds another piece of infrastructure to Arbitrum’s already successful protocols.

We look forward to supporting Vertex’s funding application!

Vertex Protocol Summary Statistics:

• The fourth-largest derivatives DEX by cumulative trading volume – 8 billion USD;
• The eighth-largest protocol by 30-day fees – 485,000 USD;
• A total of 6,203 unique depositors.

Balancer

As the fifth-largest protocol and the third-largest DEX on Arbitrum by total value locked, Balancer has proven its value in the ecosystem. We appreciate Balancer’s continued focus on promoting collaboration within the ecosystem, such as the ve8020 incentive program, yield pools, bonuses, and the veBAL economy, which brings value to Arbitrum. The outlined incentive goals align with the goals of the short-term incentive program, and we believe that the migration and increased participation of veBAL will potentially increase the total value locked, trading volume, and user base in the long term.

Balancer Summary:

• The fifth-largest protocol by total locked value – $96.51 million;
• The second-largest DEX by total locked value – $96.51 million;
• The 20th entity by user count in the past 30 days – 386,000;
• The 16th-largest entity by transaction count in the past 30 days – 1.88 million.

Socket

Socket has proven to be one of the core components of Arbitrum’s infrastructure, serving as one of the protocols with the most users, transactions, and trading volume on Arbitrum. The incentive distribution of the overview will provide valuable information and data on the effectiveness of incentive infrastructure projects and their value to the Arbitrum ecosystem. We expect the refund of cross-chain fees, improved user onboarding experience, and the integration with partners to increase user acquisition and total locked value on Arbitrum.

Socket Arbitrum Summary:

• The 12th entity by cumulative user count – 854,000;
• The 17th entity by cumulative transaction count – 2.8 million.

RabbitHole

RabbitHole’s mission aligns directly with the goals of short-term incentive programs, and it has successfully driven user acquisition and transactions on Arbitrum. The tasks gamify the exploration of the Arbitrum ecosystem by users, and more importantly, provide infrastructure for new protocols to increase their growth by offering task rewards. We appreciate the clear and specific key performance indicators and the inclusiveness of the incentive program.

RabbitHole Summary:

• Total of 1.5 million task requirements;
• Total of 213,000 unique task wallets;
• Average of 7.4 tasks completed per wallet.

Angle Protocol

Angle Protocol adds diversity to the DeFi ecosystem through the Euro stablecoin and advanced liquidity mining implemented through Merkle. The incentive goals outlined align with the objectives of short-term incentive programs, aiming to foster collaboration between native protocols on Arbitrum. Additionally, Angle focuses on driving adoption of stEUR, providing important data and insights for the demand for RWA on Arbitrum.

Angle Protocol Summary:

• The largest Euro stablecoin in DEX trading volume since May 2022 – 64.4% in September;
• Ranks fourth in market capitalization and largest decentralized stablecoin – $20 million.

Translated:

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