We’re thrilled to unveil batch 28, which includes 2 grants for a total of $32,100 in funding. You can learn more about each grant below, including details about the specific projects and funding.
Magma Vaults (Audit) Oak Security
$30,600
Magma team & Oak Security
This grant funds the audit required to launch Magma, a decentralized permissionless concentrated liquidity vault provider. The Magma team is led by Don Cryptonium (https://x.com/DonCryptonium), who provided most of the funding for development. The vault product is inspired by Charm Finance and features the ability for users to create and manage their own vaults permissionlessly, allowing other users to deposit to their vaults. All vaults created using Magma feature a 3 position strategy that splits liquidity into full range, base (concentrated) range, and limit (single sided) range positions. Magma vault performance fees will be competitive with existing vault solutions on Osmosis: a 5% fee for the platform, and a configurable fee for the vault manager (usually 1-5%). The audit is expected to take approximately 1 week, followed by a remediation period. The vaults will be ready to launch on Osmosis shortly thereafter.
Permissionless vaults bring something unique to the concentrated liquidity position management landscape on Osmosis. By opening up opportunities for third parties to earn management fees for developing profitable strategies on Osmosis, Magma vaults act as a powerful BD / Distribution tool for Osmosis. DeFi Influencers and professional market makers alike now have a strong incentive to drive liquidity to Osmosis. Additionally, this product greatly opens up the competition space for vault providers on Osmosis. Forcing vaults to compete with each other maximizes capital efficiency on Osmosis pools and minimizes management fees.
FlixFest 2024 Sponsorship Omniflix
$1,500
Omniflix
FlixFest is a Cosmoverse side event that has been running every year since Cosmoverse 2022. Hosted by the Omniflix team, the event is a mixer with over 200 expected attendees from across the Cosmos ecosystem. Public tickets sold out within 4 hours of launch, in line with stellar attendance for previous years.
This is the lowest tier of the sponsorship package, and it comes with: 5 Tickets to the event for members of the Osmosis team / Osmosis branding on all official event materials and advertising / A merch table for distribution of Osmosis / Polaris merch (Osmosis foundation will be providing the merch).
