Fluid Submits 500K Arbitrum Grant Proposal to Support Trading Volume and User Growth
Fluid, a decentralized finance (DeFi) company, has submitted a grant application to the Arbitrum DAO requesting 500,000 Arbitrum tokens. The company plans to use the funds to support its initiatives aimed at increasing trading volume, liquidity, and user acquisition on its platform over a 12-week period.
Fluid's primary product is a GMX trading tool integrated with the Telegram messaging app, which allows users to access DeFi trading. The company operates on the Arbitrum One network, utilizing its features such as scalability, lower gas fees, and faster transaction speeds.
Prior to this grant application, Fluid had already received a grant from GMX, a decentralized exchange, which significantly contributed to their growth. The company received 100,000 Arbitrum tokens from GMX, which they distributed through acquisition programs and by reimbursing keeper fees. This previous grant helped Fluid establish a strong foundation and achieve notable growth in trading volume and user acquisition.
Building on the success of the GMX grant, Fluid has high hopes for the Arbitrum grant proposal. The company believes that the additional funding will enable them to further enhance their DeFi trading tools, attract more users, and contribute to the overall growth of the Arbitrum ecosystem.
In addition to the Telegram bot, Fluid is working on other products, including a Simplified AI Trading Assistant (SATA) and an API as a Service offering to help DeFi platforms integrate GMX DEX perpetual liquidity. The Fluid team consists of developers, business managers, and marketing experts with experience in the crypto and blockchain industry.
Fluid's grant proposal outlines a plan to allocate the requested 500,000 Arbitrum tokens over three phases, spanning 12 weeks. The funds would be used for various incentives, such as fee rebates on high-volume trades, trading competitions, affiliate programs, and refunding bridging fees, with the goal of attracting new users and encouraging user retention.
The company has set key performance indicators (KPIs) to gauge the success of the grant objectives, which include achieving a specific increase in trading volume, month-over-month growth in new users, and an increase in transactions on the Arbitrum network.
Fluid believes that the grant will contribute to the Arbitrum ecosystem by enhancing user experience, promoting adoption, and encouraging community engagement. The company has committed to providing regular updates on the Arbitrum Forum and a final closeout report to maintain transparency throughout the program.
If awarded the grant, Fluid intends to leverage the funds to expand its DeFi trading tools, attract more users to the Arbitrum network, and build upon the success achieved through the previous GMX grant. The company's approach to DeFi trading and its focus on the Arbitrum ecosystem make it a noteworthy applicant for the grant program.
As the industry continues to evolve, it will be interesting to observe how Fluid's initiatives, if funded, contribute to the growth and maturity of the Arbitrum network and the broader DeFi ecosystem.
