Podcast Summary
This podcast episode features Anton from Pendle and Corey Kaplan from Dolomite, discussing their respective platforms and their applications for Arbitrum grants. Anton, who leads the ecosystem growth side of Pendle, talks about their aim to deepen liquidity and incentivize yield trades. Corey, the CEO and co-founder of Dolomite, discusses their lending protocol on Arbitrum and their proposal for grants. Both Pendle and Dolomite have seen significant growth and are looking to further expand their platforms through the Arbitrum grants.
Key Takeaways
Arbitrum Grant Applications
- Pendle and Dolomite’s Grant Requests: Both platforms applied for Arbitrum grants, with Pendle asking for 2 million ARB and Dolomite asking for 1 million ARB. These grants are intended to help the platforms overcome growth limitations and increase utility.
- Constraints on Grant Requests: The overall size of the budget for stip grants constrained the amount that Pendle and Dolomite could ask for. The Arbitrum incentives working group had guidelines for maximum grants based on metrics like time live and TVL, with a maximum of 2 million ARB tokens.
- Future Grant Applications: Pendle hopes to prove the effectiveness of their incentive mechanism to potentially apply for higher grants in the future. The short-term incentives program aims to distribute tokens as quickly as possible within three months, encouraging usage across different protocols.
- Community Support: Pendle and Dolomite relied on their brand recognition and established goodwill within the Arbitrum ecosystem to gain support for their grant applications. The voting process was more about awareness than lobbying.
- Grant Distribution: The distribution of ARB tokens will be allocated to Pendle pools, with the amount depending on the voting weight per pool. This incentivizes users to vote for Arbitrum pools and encourages participation.
Platform Growth Strategies
- Pendle’s Growth Strategy: Pendle aims to attract users by offering unique features like trading yield. They have been working closely with other protocols like Dolomite and GMX to create a synergistic ecosystem on Arbitrum.
- Dolomite’s Growth Strategy: Dolomite provides a lending market for PT tokens and is the first to list a YT token for borrowing against. Their proposal aims to drive more lendable assets into their platform.
- User Engagement: Pendle has implemented a campaign tab, which offers task-based quests to gamify user interaction with the platform. These quests aim to familiarize users with the Pendle interface and mechanism.
- Future Plans: The focus for the next three to four months will be on Arbitrum, with plans to deploy to other networks in the future. Dolomite aims to become a hub for connecting the DeFi ecosystem and is looking for networks with organic and unique DeFi activity.
Sentiment Analysis
- Bullish: The podcast host expresses optimism about the success of the short-term incentive program and suggests that if it becomes a huge success, more seasons of similar programs can be expected in the future. The host also emphasizes that the growth of the Arbitrum ecosystem will attract not only DeFi protocols but also other types of protocols.
- Neutral: The host acknowledges that there may be nuances and challenges in the program, such as protocols being good or bad fiduciaries and the impact on the ecosystem after the program ends. The host also notes that some proposals missed the deadline or didn’t meet certain requirements, but they can participate in the second round and improve their proposals based on feedback.
- Bearish: No bearish sentiment was expressed in the podcast.
