PIP- 41 : Grant application : Institution onboarding of Cobo Argus into the Paraswap ecosystem

[Cobo]

Abstract

This proposal aims to integrate Cobo Argus into the ParaBoost Social Escrow system and requests funding support. To achieve this integration, we request 5,000 USD (Paid in ARB) and 10,000 USD (Paid in PSP, which will be converted to sePSP2). If this proposal is approved, Cobo will implement the integration of Cobo Argus into the ParaBoost Social Escrow system and lock the necessary funds to support this integration.

Goals & Review

Cobo Argus is a secure and efficient cryptocurrency asset management solution that supports role-based access control, DeFi investment strategies, and a range of other functionalities. With a current Total Value Locked (TVL) of 150 million USD, Cobo Argus offers a comprehensive suite of cryptocurrency asset management solutions designed to simplify DeFi operations and enhance returns while minimizing risk.Farming, Withdrawal bots are executed using the Paraswap API.
The primary objectives are to boost security and efficiency with Cobo Argus, known for its secure asset management. Additionally, the integration aims to introduce DeFi investment strategies with authorized access control to empower users in navigating the DeFi landscape effectively. This integration offers diversified tools, including simplified multisignature operations, automated DeFi bots, and strategy authorization. Success metrics include a smooth integration process, user satisfaction, and valuable community feedback. In summary, this integration seeks to provide ParaBoost users with advanced cryptocurrency management capabilities and maintain a leading position in the DeFi ecosystem.

Means

Request 5,000 USD in ARB tokens to cover the operational costs of integrating Cobo Argus.
Request 10,000 USD in PSP tokens to support the lockup of funds for Cobo Argus.

Implementation Overview
If this proposal is approved, the following high-level steps will be taken to implement the integration:

1. Cobo Argus Integration Planning:Collaborate with the Cobo development team to plan the integration of Cobo Argus into the ParaBoost Social Escrow system.

2. Development: Develop, test, and deploy the integration, ensuring it meets security and performance standards.

3. Marketing and Adoption:Promote the integration solution within and outside of the ParaBoost community to encourage user adoption.

4. Feedback Collection: Gather feedback from users and stakeholders for necessary adjustments and improvements.

5. Maintenance and Future Considerations: Ensure the continued functionality and security of the integration while exploring potential enhancements for the future.

The estimated timeline for implementation will vary based on specific circumstances.

This proposal aims to enhance the functionality of the ParaBoost Social Escrow system and provide additional cryptocurrency asset management options to meet the community’s needs. We hope that this proposal receives your support and contributes to the development of ParaBoost and Cobo Argus.

Thank you very much.

[stikers]

Hello,

Our DAO is always very happy to receive partnership proposals. That being said.

You created your profile 15 hours ago.
You have randomly liked replies and posts. You have even sent replies to some without any real interest.

You don’t introduce yourself as a specific person, your proposal doesn’t really have a specific subject (I admit I read it diagonally) and you’re asking for an amount similar to what we accept at the moment.

I’m sorry, but I have my doubts about the veracity of your statements.
Looking forward to hearing from you

Sincerely yours

[Cobo]

Hello,

Yesterday, due to some technical issues, I was unable to change my personal profile picture and edit my personal profile in a timely manner. The relevant team members were very efficient in resolving the errors today, allowing me to successfully complete my personal edits. Below is my introduction: https://www.cobo.com/

Cobo is a leading global digital asset custody solutions provider.
Founded in 2017 and headquartered in Singapore, Cobo is one of the largest digital asset custodians globally, trusted by over 500 institutional clients across Asia, Europe, the Middle East, and North and South America, with billions of dollars in assets under custody.
Cobo offers a comprehensive suite of custody technologies from full custody (HSM-based), to co-managed custody (MPC-based), and fully decentralized self-custody (smart contract-based). In addition, Cobo provides Wallet-as-a-Service, SuperLoop (off-exchange settlement network), and Argus (on-chain DeFi strategies and tools with role-based access controls).
Cobo Argus Unlock your DeFi potential with Cobo Argus – the future of frictionless institutional DeFi investments. Experience automated strategies authorization, customizable DeFi bots, and parameter-level access controls, empowering you to navigate the DeFi landscape with ease and security.

This proposal is to secure funding support from the DAO, combined with Paraswap with Cobo Argus to advance the development of more sophisticated automated bots for an enhanced DeFi experience.

Thank you.

[stikers]

Who are you ? What your job in the Cobo team ?

“This proposal is to secure funding support from the DAO, combined with Paraswap with Cobo Argus to advance the development of more sophisticated automated bots for an enhanced DeFi experience.”

Could you be more specific. Why Paraswap need your service? How will you help us specifically?

[Cobo]

We are actually a blockchain custody service provider. After several years of effort, we launched the Cobo Argus product. This has provided both individual and corporate users with a better experience in DeFi.

For individual users: Multiple hardware wallets combined with Safe{Wallet} multisignature and Argus single-signature authorization can be used to securely manage assets.

For enterprise users: Specific DeFi protocols and functions can be authorized to operators, allowing employees to operate only within authorized parameters. They cannot use unauthorized DeFi protocols or transfer principal funds. This capability is similar to the sub-account feature found in centralized exchanges (CEX). By restricting the permissions of an address, even if the private key is compromised, the potential harm is limited.

Building upon the DeFi authorization feature, Cobo Argus has introduced a robot feature, allowing users to authorize specific DeFi protocol permissions to robots, which can then perform automated operations. For example, automatic reward claiming, selling, and reinvesting, as well as automatic withdrawal.

Cobo Argus has already been adopted by numerous high-value individual investors whether it is a DeFi fund manager, market maker, or Web3 project founder. It not only improves DeFi efficiency but also strengthens asset security. In times of DeFi crisis, tools like Cobo Argus can be of great assistance.Cobo Argus has launched a Withdrawal Bot feature. Users can customize risk indicators such as LP Token weight, Deposit Ratio, and TVL fluctuation range. By monitoring real-time on-chain data, the bot will automatically withdraw funds for investors when user-defined indicators are triggered, such as sudden drops in TVL or sharp increases in LP Token ratios. This is particularly valuable in cases of hacks and large asset outflows, which can lead to a significant drop in TVL (Total Value Locked).

If this proposal is approved, we will take two actions to assist Paraswap:

1. Powered by Paraswap’s API, Argus could provide the end users with efficient and secure DeFi investment solutions, making Paraswap’s a proven essential DeFi product with real life potential. We will share a post on social media platforms and official websites to showcase the integration between Paraswap and Cobo Argus, and how Paraswap’s API enhances the capabilities of our Argus solution.

2. We will also list PSP token, by which it will incentivize PSP holders to deposit their tokens into our interest-bearing product. This will encourage the long-term holding of PSP tokens and reduce potential selling pressure.

Thank you.

[stikers]

More clear for me.

Thanks you for your response.

Did you have already some sepsp2 ?

How long will you lock your potentiel new sepsp2?

How long does this partnership last on this basis? Is it a lifetime contract?

[stikers]

Right, then. I think you’re going to have to rethink the way you present your proposal.

There are deadlines to be met and discussions to be held.
Our DAO is not in the habit of keeping interesting proposals waiting.
But we’re not in the habit of accepting just anything either.

I suggest you remove your active vote and reread the basics of our rules.

Sincerely yours

[Albist]

Hello,
It’s always nice to see centralised actors interested in the benefits of ParaSwap.

@Cobo

Cobo Argus Integration Planning:Collaborate with the Cobo development team to plan the integration of Cobo Argus into the ParaBoost Social Escrow system.

@Cobo

Powered by Paraswap’s API, Argus could provide the end users with efficient and secure DeFi investment solutions, making Paraswap’s a proven essential DeFi product with real life potential. We will share a post on social media platforms and official websites to showcase the integration between Paraswap and Cobo Argus, and how Paraswap’s API enhances the capabilities of our Argus solution.

@Cobo

We will also list PSP token, by which it will incentivize PSP holders to deposit their tokens into our interest-bearing product. This will encourage the long-term holding of PSP tokens and reduce potential selling pressure.

Could you be more specific about the integrations you’re talking about?

• The listing of the $PSP on your platform is clearly described.
• The use of ParaSwap as an aggregator for swaps carried out on your platform too?
• Does the proposal include offering your customers PSP staking (single and 80/20)?

@Cobo

If this proposal is approved, Cobo will implement the integration of Cobo Argus into the ParaBoost Social Escrow system and lock the necessary funds to support this integration.

Cobo intends to be a $PSP staker ? How the saking fo the funds will support this integration ?

Your proposal contains several stages with no clear deadline.
Are you prepared to spread the payment over the milestones you indicate?

Finally, on the subject of form, you have just posted your proposal on the DAO snapshot “pending” just one day after introducing the subject on the governance forum.

The DAO rules state that voting should be active as close to Tuesday as possible, and that the community should be notified by a ‘temp check’ (a simple message informing the community that discussion of a proposal has ended and that the proposal is about to be put to the vote) 48h before the vote goes live.
I suppose we’ve got some work to do to make these rules clearer to the various external players arriving on the forum.

However, it’s strange to freeze your proposal without waiting for a proper discussion to take place.

[dseeker]

Welcome to Paraswap DAO. Personally, the news of a new partnership especially in relation to the Social Escrow System always gladden my heart. That said this proposal is lacking in many fronts. As an institution with a TVL of $150M USD, one would expect a more detailed proposal with clearly stated deliverables.

For instance, the success metrics mentioned in the abstract is completely omitted in the main proposal. Even in the abstract that it was mentioned, the said metrics has no consideration for Paraswap DAO.

Also, while the requested funding of $5k in ARB is justified as a way to fund the integration, I see no justification for the $10k PSP. Was the PSP payment intended as some sought of bribe?

There are simply too many red flags in this grant proposal

I want to suggest a complete rewrite of this grant proposal if we are to take this serious.

[Cobo]

Apologies for the delay everyone. Here is the revised proposal I have edited.

PIP-XX : Integration of ParaSwap on Cobo Custody and Cobo Argus

Abstract:

This proposal aims to enable listing for ParaSwap (PSP) tokens on Ethereum, BNB, Polygon, and Optimism chains within the Cobo Custody platform, in order to enhance the liquidity and accessibility of PSP. Additionally, we have provided ParaSwap aggregator options for the customized bots on Cobo Argus. Furthermore, this proposal includes plans to publish a promotional article highlighting the partnership between ParaSwap and Cobo.

Goals & Review:

Cobo is a leading global digital asset custody solutions provider.Founded in 2017 and headquartered in Singapore, Cobo is one of the largest digital asset custodians globally, trusted by over 500 institutional clients across Asia, Europe, the Middle East, and North and South America, with billions of dollars in assets under custody.Cobo offers a comprehensive suite of custody technologies from full custody (HSM-based), to co-managed custody (MPC-based), and fully decentralized self-custody (smart contract-based). In addition, Cobo provides Wallet-as-a-Service, SuperLoop (off-exchange settlement network), and Argus (on-chain DeFi strategies and tools with role-based access controls).

The first goal is to facilitate the listing of ParaSwap (PSP) tokens on Ethereum, BNB, Polygon, and Optimism chains within the Cobo Custody platform. This will significantly improve the liquidity and accessibility of PSP trading for Cobo existing customers include:Bitget,Mexc,Deepcoin,Wootrade etc.For new customers with this integration, clients won’t need to invest additional efforts in developing support for PSP on various public blockchains. It will streamline the process and allow developers of all kinds to easily utilize Cobo wallet as a service on their platforms, enabling seamless use of PSP tokens.

The second objective is to integrate the ParaSwap aggregator into our withdrawal bots, farming bots, and customized bots in Cobo Argus. Cobo Argus is a self custody platform featuring role-based access control, DeFi investment strategies, and a variety of other features built based on Safe. It currently has a Total Value Locked (TVL) of $150 million, with approximately $90 million being utilized by our bots. These bots include withdrawal bots, farming bots, customized bots, and readily available authorization strategies.This integration ensures that when clients use the withdrawal bot, it will automatically utilize ParaSwap to swap tokens during withdrawals. Similarly, for clients using farming bots to provide liquidity, these bots will assist in yield farming and will default to using the ParaSwap aggregator for token swap. Additionally, clients will have the flexibility to customize their bots while having the option to incorporate the ParaSwap aggregator into their setups.

The goal of this initiative is to enhance the visibility and recognition of the partnership between ParaSwap and Cobo Custody, along with Cobo Argus. This will be achieved through the publication of a PR article. The success of this goal will be evaluated based on the level of awareness and positive reception generated within the crypto and DeFi communities regarding the collaboration between ParaSwap and Cobo Custody and Cobo Argus.

The success of this proposal will be evaluated through several key metrics: Firstly, the adoption rate of ParaSwap (PSP) token listings on Ethereum, BNB, Polygon, and Optimism chains within Cobo Custody will be monitored, analyzing transaction volumes and liquidity enhancements post-listing. Secondly, user engagement with the integrated wallet-as-a-service platform will be assessed, tracking activities, wallet creations, and PSP token usage. Thirdly, the extent of integration of the ParaSwap aggregator into withdrawal bots, farming bots, and customized bots will be measured. Additionally, the performance of DeFi bots in increasing profits and optimizing risk management, as well as any growth in Total Value Locked (TVL) within Cobo Argus, will be evaluated. Furthermore, the impact of the PR article highlighting the partnership will be analyzed in terms of community awareness and sentiment. These metrics collectively aim to demonstrate the successful outcomes resulting from the collaboration between ParaSwap and Cobo Custody and Cobo Argus.

Means:

Request 15,000 USD in PSP tokens to cover the development effort to implement the test integration of paraswap aggregator in Cobo Argus.

Implementation Overview：

If this proposal is approved, we will initiate the listing process of ParaSwap (PSP) tokens on the Ethereum, BNB, Polygon, and Optimism chains within the Cobo Custody platform to enhance PSP liquidity and accessibility. This process is expected to be completed within several weeks.

Secondly, we will integrate the ParaSwap aggregator into our withdrawal bots, farming bots, and customized bots to ensure that when clients use these bots, they can seamlessly use the ParaSwap aggregator for token swaps. Additionally, we will provide clients with the option to customize their bots and incorporate the ParaSwap aggregator into their setups. This integration work is expected to be completed within several months to ensure high quality and security.

Lastly, we will prepare and publish a promotional article aimed at enhancing the visibility and recognition of the collaboration between ParaSwap and Cobo Custody, as well as Cobo Argus. This will involve the creation, approval, and publication of PR content, as well as collaboration with the ParaSwap team. It will be completed within several weeks to promptly showcase the partnership to the crypto and DeFi communities.

Future considerations include ongoing maintenance and optimization of PSP token liquidity on our platform, continued support for the aggregator in our various bots, and further expanding the impact of the collaboration between ParaSwap, Cobo Custody, and Cobo Argus through additional cooperation and promotional activities.

[Albist]

Hey,
thanks for your update, if I can recap:

• $PSP listing on your platform (500 institutional clients) ← is there also retail customers ?
• inttegrating ParaSwap agregator as the only dapp for your bots to swap ← do you have an historical volume for this bot feature?

Highlighting ParaSwap and $PSP is always a good thing, it’s just important to have an idea of the impact of such a partnership, hence my two questions above.

[Cobo]

@Albist

is there also retail customers ?

This relates to a category that excludes retail customers. The group of 500 institutional entities includes exchanges, quantitative teams, venture capital firms, and other B2B clients. Additionally, we offer another wallet known as “Cobo Wallet,” which is accessible for download on both the App Store and Google Play Store. This wallet is designed for use by B2C which is for retail customers.

@Albist

do you have an historical volume for this bot feature?

1. The following represents the aggregator historical data made available for use through the bot.
   
   

2） This is a brief overview of data related to our bot operations.

[Cobo]

I believed it would be most suitable to release the temporary check now. Just wanted to inform you that I’m planning to publish this proposal next week!

[stikers]

I’m having trouble getting my head around it. Sorry about that. But the bot in question, how long are we talking about? 10 years to make 1m of volume? or 2 days?

[Cobo]

@stikers

10 years to make 1m of volume? or 2 days?

Hello, as I explained earlier, we have both farming bots and withdrawal bots. The 1 million volume can be generated based on users providing liquidity in DeFi projects and then swapping their earnings into other token through bot. On the other hand, the volume generated by withdrawal bots occurs when tokens depeg. So, the withdrawal bots won’t execute unless there is depeg in the liquidity pool. Under stable conditions, the volume will primarily come from the farming bots.

The image I posted above shows the bot’s swap volume from June 13, 2023, to October 11, 2023.

[Cobo]

Hello everyone!

The voting for this proposal will live tomorrow at 8 PM. We welcome everyone to click the link and participate in the vote.

https://snapshot.org/#/paraswap-dao.eth/proposal/0x7ed38ea298480fcea63666d070ccbafc4de7cf75295ab33c3485733b7bb6918b

[Lup]

Thanks guys for the updated proposal. I think that it will be great to split the amount in tranches for better accountability. I propose this:

• use sePSP1 instead of PSP
• agree on a PSP amount instead, I think 530k sePSP1 is fair since it’s close to $15k today.
• splitting the payment into 3 tranches based on objectifs that Cobo can provide and validated by Troppers or GovCo members: 130k initial, 200k a month later, 200k 2 months later.

Looking forward to hear your thoughts!

[Cobo]

@Lup

• use sePSP1 instead of PSP
• agree on a PSP amount instead, I think 530k sePSP1 is fair since it’s close to $15k today.
• splitting the payment into 3 tranches based on objectifs that Cobo can provide and validated by Troppers or GovCo members: 130k initial, 200k a month later, 200k 2 months later.

Thank you for your valuable suggestions. Your input is greatly appreciated, and we accept your proposed changes.

[Cobo]

Proposal is now live: Snapshot

[enerow]

Can you please update the forum proposal with the new terms?