Dear TickDAO team,
As stated in this forum post we are introducing new measures to ensure transparency and accountability around GIPs funded by the GnosisDAO.
Accordingly, we are asking the teams who authored GIPs and received funding to provide updates about their work. Please use this template as a guideline. Additionally we have some GIP specific questions for you.
In your proposal you mentioned the following advantages over other protocols:
-
This effectively creates a built-in liquidity aggregator, allowing us to have deeper liquidity than any other exchange, centralized or not, subject only to our capital availability.
-
Leveraging better mechanisms, we completely nullify this obstacle to be in a uniquely strong position among challengers. With lower transaction costs, we can generate more value for our users, allowing more efficient portfolio rebalancing, dynamic hedging, and short-term speculation. By providing deep liquidity in a non-custodial setting, we can help accelerate the migration of trading volume to DeFi.
-
We are initially focusing on short-term, high leverage custodial futures trading. This allows us to get early user feedback from a target market that we consider very valuable in the long run, at the same time validating our market mechanism. Since transaction costs are crucial for them, we will have a strong competitive advantage in this niche.
-
At the same time, we are working to release a non-custodial spot market. We will protect users from frontrunning, reduce gas fees dramatically compared to Uniswap, and offer an orderbook that can be deep as (or even deeper than!) than that of centralized exchanges such as Binance or FTX.
From the first experience of your beta testers, please comment on whether your assumptions were met or not.
The community is invited to ask questions about the status of your project that should be addressed. Please make sure to monitor your post and respond to questions from the community.
We are looking forward to learning about the progress of your project. Moving forward we would appreciate it if you could give updates on a regular basis.