Apologies for the delay everyone. Here is the revised proposal I have edited.
PIP-XX : Integration of ParaSwap on Cobo Custody and Cobo Argus
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.
Request 15,000 USD in PSP tokens to cover the development effort to implement the test integration of paraswap aggregator in Cobo Argus.
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.