Proposal Number & Name
PIP-XX: Enable ParaSwap Foundation to facilitate $ARB and $OP incentives
ParaSwap DAO received 450 000 OP destined for Development grants, OP-PSP liquidity, and DexLib integrations as part of the OP grants program. Despite this, a large portion of the grant remains unutilized: for example, 100% of the DexLib portion is still available, and only one proposal has been related to Development.
To facilitate the use of these grants for the development and betterment of the protocol, this proposal requests to enable the Foundation to allocate the remaining portion of the $OP grants for the uses initially assigned in the Grant Application, as well as leveraging the $ARB grant for the uses of Research and Development.
Goals & review
Of the initial OP Grant application, 75% of it was allocated for Grant and Integrations, with 15% of this being specific to DexLib integrations. Despite this, as of the time of writing, a total of 0 OP have been requested for DexLib grants, and only one application has been made related to the technical development of the protocol. This contrasts greatly with the amount of Pull Requests being submitted and collaborated with on the GitHub repo, where over 500 requests have been made, many of which are being initiated by people currently not involved in the ParaSwap Core Team.
One year after the approval of the grants, we have identified that the current method of requesting Grant Amounts through the DAO has the following limitations, which make it less attractive to developers:
- Slow turnaround time from initial request to implementation
- Challenging navigation through the DAO proposal procedure, with most developers preferring to interact with a traditional BD team
- Difficulty working on projects currently in the process of Research and/or Development, as they are not ready for public presentation to the DAO.
If the ParaSwap DAO wishes to remain accountable and eligible for future grants from other DAOs, it is essential to be able to allocate the remaining grants for the relevant purpose as soon as possible.
The DAO can quickly resolve all the issues listed above by using the ParaSwap Foundation as a facilitator of development-related grants. Not only is the foundation obligated to follow the scope outlined in this proposal, but they will also be able to directly navigate applicants through the process, facilitating the onboarding process to bring more talent to improve the protocol.
The following proposal enables the ParaSwap Foundation to become a facilitator for the remaining 268,756 OP assigned for Development and DexLib and the remaining 242,597 ARB.
The foundation will be able to facilitate these balances for grants related to the following purposes:
- Maintenance of DexLib integrations
- Research and Development for solutions to further Decentralize the ParasSwap Protocol
- DAO tooling and automation solutions