Today we are announcing the OGP’s ninth batch of funding, and first since the program re-launched! In this batch, we've approved six grants for a total of $501,800 in funding. We share more info on each grant below, including specific milestones, team backgrounds, and value-add to Osmosis.
The multi-sig transition has been successfully completed, and our new Osmosis and Ethereum addresses have been added to our website. We can now move forward with any outstanding payments to grantees after having had to halt all payments due to the renewal process.
We've also added the live grants dashboard to our website, which gives insight into our applications and funding process.
Bankless Promotion
50,000 USDC
Bankless
50,000 USDC
To cover the full cost of the Osmosis promotion campaign with the Bankless podcast and newsletter, which will run from January 1st -15th 2023.
The aim of this sponsored advertisement campaign is to acquire new users for the Osmosis DEX, educate the wider crypto ecosystem on Osmosis and the broader Cosmos ecosystem, and grow the number of Osmosis community members. Bankless is a leading crypto podcast focused on the Ethereum ecosystem, and has one of the largest audiences of Ethereum users.
Bulk Audit Purchase
$346,800 (in OSMO)
Oak Security
$115,600 (in OSMO)
$115,600 (in OSMO)
$115,600 (in OSMO)
To block audit slots in Oak Security's backlog in advance so Osmosis ecosystem projects do not have to wait for 12 weeks for a start date. These projects will also receive a 15% discount on the typical audit fee. As part of this bulk audit purchase, Oak Security has offered a package of 12 weeks, with a minimum consumption of 1.5 weeks/month (1.5-weeks is the average duration per audit), starting January 1st 2023, until these weeks are consumed. Oak Security will also record a video that outlines at which stage an audit makes sense, what to expect from an audit, and how to best prepare for it.
It's important for Osmosis ecosystem projects to be audited before deploying on mainnet. This grant will allow a number of ecosystem projects to get audited in a timely manner to speed up the deployment process on Osmosis. Oak Security is a leading CosmWasm smart contract auditor and has worked on relevant projects, such as Axelar, Lido, and Mars Protocol in the past.
Validator Management Dashboard
$20,000 (in OSMO)
PFC Validator
$5,000 (in OSMO)
$15,000 (in OSMO)
To create a validator management platform, which will include features such as creating a validator, submitting on-chain governance proposals, IBC relaying (via Osmosis). The aim of the tool is to remove the need for a validator to use the command line to do their day to day operations.
PFC Validator runs several validator nodes, such as on Terra, Kujira, and Injective. They have already built a beta version of the validator management dashboard which they will be iterating on as part of this grant.
Testnet / Mainnet Price Parity
50,000 USDC
Defiant Labs
10,000 USDC
10,000 USDC
15,000 USDC
15,000 USDC
Defiant Labs is tasked with ensuring that the liquidity pool spot prices on the official Osmosis testnet match the prices of the corresponding liquidity pools on Osmosis mainnet. The arbitrage software will establish the market price of any given token pair (e.g. OSMO/JUNO) on the Osmosis mainnet and force the testnet spot price(s) to match that price. Defiant has committed to run the off-chain arbitrage software for 1 year and maintain it for 3 years. Milestone 1 = faucet module; Milestone 2 = open-source off-chain arbitrage software; Milestone 3 = to host the software for 1 year to match testnet and mainnet prices, and to support/maintain the software as needed for 3 years.
Testnet/mainnet price parity will make it far easier for other projects/testers to develop against Osmosis in the future, as testing on testnet will become much more accurate. This will encourage testing against the testnet instead of mainnet, and reduce the risk of things going wrong for mainnet deployments. Defiant Labs is a repeat grantee who has already built a number of tools for the Cosmos ecosystem.
Fix LUNC IBC Connection
$35,000 (in OSMO)
Notional
$35,000 (in OSMO)
Retroactive grant for having fixed the Osmosis Luna Classic IBC connection, and having coordinated the relaunch of Luna Classic on the Osmosis DEX. A significant amount of LUNC funds have been stuck on Osmosis since the IBC channel was interrupted during the Terra crash. This is an effort to make users whole, and give them a chance to have access to their tokens.
Notional is a repeat grantee and long-time contributor to Osmosis and the Cosmos ecosystem at large. They have already completed this project.
