Funding Breakdown to Date
In June, the Osmosis Grants Program approved five grants for a total of $189,000 in funding. This brings the total funding amount to ~$3.9M distributed among 78 different projects, after having received 500+ applications:
In our latest batch of grants, we approved two grants aimed at improving Osmosis' Supercharged Liquidity UX for both retail and sophisticated traders:
- The Hummingbot connector will improve the trading infrastructure available for sophisticated market makers and LPs as it will allow them to connect with and run advanced strategies on Osmosis.
- Notifi will provide real-time notifications directly on the Osmosis frontend. This will include many different notification types, from new token listings to critical LP position updates.
The batch also included some grants aimed at improving token and community management tooling for apps deploying on Osmosis. The DAO DAO deployment will provide the necessary tooling to set up token governance and treasury management, and Genie's integration will facilitate token distribution campaigns by abstracting away the technical implementations.
Total funding by category remains largely unchanged from our previous report. Infrastructure remains the most funded category to date by dollar amount, having received 32.3% of the total funding approved by the OGP to date.
The share of grants received by Protocols increased by 3% since last month, while the share of all other categories either stayed the same or decreased, since we mostly funded Protocols in our latest batch of grants.
In addition to the comprehensive RFP list on our website which is meant as inspiration for applicants before applying, our current outstanding RFPs include:
Apply for a grant if you're interested in working on any of the projects listed above. There will also be more RFPs published soon, so stay tuned!
Communication and Transparency
We continue to be transparent with the community and communicate on a regular basis through various channels, such as monthly transparency reports, Twitter Spaces with select grantees, and Discord Office Hours.
In June, we had Nabla and Notional join us on Updates from the OGP to chat about Cosmoswap and Fee Abstraction. Both have completed their grants; they're now working with the core team to deploy them on a number of different chains.
We welcome any feedback from you to understand what's going well and what could be improved on the communication and transparency front. If you have any questions or concerns, please reach out!
The following grantees have completed their projects over the past month:
Our agreement with Oak Security for an initial 12 weeks worth of audits has now been completely used up. Projects that received an audit include Cron Cat, Phase, Streamswap, IBCX, Membrane, CALC Finance. Zodiac Protocol and Prism Protocol's Osmosis LP refracting contract were also included in this package, though their audit reports have yet to be published.
Numia has completed the initial version of the Lenses, an Osmosis analytics dashboard which includes novel data on Osmosis revenue, wallet activity, wealth distribution, and more!. The dashboard also includes a contact form for feedback so make sure to fill it out if you have any feature requests or find any bugs.
Below we share some updates from active grants projects.
Antoine has finished the first draft of the paper, which covers 1) the negative externalities of MEV, 2) the case for threshold encrypted mempools, 3) the limits/drawbacks of threshold encryption, and 4) what Osmosis should be thinking about in particular. He's now working on polishing a few final things and incorporating some of our feedback before publishing it on Arxiv.
Mystic Labs has completed the Snap for the Metamask integration. They're now finishing up some manual tests with a temporary UI to ensure it's working as expected. If there are no issues found during the tests, the codebase will going to audit and the team will start working on a production-ready UI that will serve to interact with the Snap itself.
Alles Labs has all of the final milestone features ready, though they're yet to be merged into production. These include support for Osmosis pools (which was delayed to make sure it will still work once the v16 upgrade goes through), local chain support (currently wrapping up on the documentation and guide for developers), and a UI for uploading contract proposals and whitelisting addresses. The team expects to have all of these new features merged by the end of this week.
The DAO DAO team has posted a proposal on-chain asking the community to grant them the ability to upload CosmWasm contracts to Osmosis without seeking further governance approval for each upload. If the proposal is approved, they'll upload the initial deployment for membership based DAOs (multi-sigs).
Hathor Nodes and Chaos labs plan to resubmit the incentives optimization proposal sometime this week with a few major updates, which include generalized constraints so that the model can accommodate constraints of any kind (e.g. TWAP oracle manipulation constraints for Mars), more competitive slippage targets, as well as support for stableswap pools.
The Margined team has completed their core contracts and we're working with Oak Security to schedule them in for an audit. As soon as the audit is completed, including relevant fixes, the Margined team will approach Osmosis governance to deploy their contract on Osmosis mainnet.
Confio is working on finishing the Mesh architecture docs, which means they're about to finish Milestone 1. They've already added the IBC specification to the docs and have the integration tests working for full IBC-enabled end-to-end testing of staking and unstaking, which means the Mesh backend should now be feature complete.
Josef is making great progress working alongside DesignDAO; they expect to have an MVP ready sometime in the next two weeks. UI progress is on the way as most pages are finished – he just needs to connect it to the contracts. He's also working with Confio right now to get some mock stuff running soon as well as CI codegen.
The Osmosis team is working closely with Notifi on the addition of notifications to the Osmosis frontend. They're on track to go live by the end of this week, pending final touches and review. Tune in to Updates from the Lab today to hear the latest updates from the Notifi team on the upcoming integration.
Serotonin worked with the Osmosis team to announce the introduction of OSMO 2.0’s tokenomics upgrades. A sample of media coverage that we secured in support of this announcement from the likes of The Block, Crypto News, and other media outlets. Serotonin also secured podcast interviews for Sunny and Aaron on the 0xResearch Podcast and the Crypto News Podcast respectively.
Anmol has completed the integration of Starship with OsmoJS, and is now working on integrating Starship with test cases in OsmoJS. Check out his explainer video that goes through the milestone delivery. Anmol is also making great progress on Starship's integration with Mesh Security, which is already being used to test out some Mesh features.
The Zodiac team has now fixed or acknowledged all the issues raised in the two audits, and is waiting on Oak Security to review the fixes and publish the audit report. They're also revisiting their frontend implementation and tokenomics before posting a proposal to upload their contracts to Osmosis mainnet.
No projects were discontinued in June.
Current State of the OGP
We share a breakdown of our current assets, liabilities, and expenses below.
- Total OSMO: 2,709,043
- Total USDC: 3,088,014
- Total funding approved: $3,904,290
- Total funding paid out: $2,229,942 or 57% of total funding approved
- Funding due on grant completion: $1,674,348, or 43% of total funding approved
The table below details our June operating expenses: