Orderly Network LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/orderly-network-ltipp-application-draft/21832

Council - 3/5 Yes Votes

Feedback

Wintermute Feedback) Orderly Network’s application was pretty good. It was well-written and provided a good amount of information for all relevant sections. Their infrastructure and product are unique and promote network effects within the Perp DEX space. The justification of the grant size is okay, but rather ambitious in their end goal. The main concern with this application is that there are very few first-order or second-order effects that are captured by Arbitrum as all trading is done on their app-chain (which is built on the OP Stack). So the main benefit for Arbitrum is that their users can deposit into a vault and earn yield. Given these concerns, we don’t think this initiative is worth funding and do not support this application.

GFX Feedback)

The applicant requests a moderate amount of funding, has a clear and easy-to-monitor execution plan and milestones, and appears to be modestly growing without the grant. We believe the grant funds requested are appropriately sized to try to double down on recent growth. We recommend this grant be funded.

Karel Feedback) "Vote AGAINST Orderly Network's proposal.

Comprehensive proposal that ranked well in the rubric (distribution, strategy, etc.). Grant size is sized well when taking into account the moderate traction they've seen to-date. Milestones/KPIs are lofty to ~4x+ TVL and 3.5x their DAU throughout span of the LTIPP. Agreed with Wintermute's comments on effects being driven to their app-chain which is built on OP Stack. Given this and their differentiation at the product and end user experience level vs. other perp DEXs on Arbitrum, don't think this meaningfully contributes to supporting Arbitrum's competitive position in the market."

GMX Feedback) The proposal submitted by Orderly Network is comprehensive, revealing a well-thought-out strategy for achieving growth and innovation within the Arbitrum ecosystem. Their clear roadmap, detailed execution plan, and specific KPIs demonstrate a commitment to achieving tangible results. By offering competitive APRs and incentivizing user participation in various products such as Deposit Vaults, Quantum Pools, and Algo Trading Tools, Orderly aims to attract new users and increase TVL on Arbitrum significantly. The proposed grant will enable them to implement these initiatives effectively, ultimately driving adoption of Arbitrum among diverse user segments and enhancing the overall ecosystem's vitality. We would be supporting the proposal.

404 Feedback) Orderly Network presented a very complete application and they have seen impressive growth over since launch. Overall, they had detailed milestones with trackable success metrics, detailed KPIs, and a clear execution strategy. We were concerned about the long term and 2nd order benefits Arbitrum would see from this grant since Orderly operates its own app chain. However, we believe they have sufficiently justified their grant request and will be supporting their application.