[Copin.io] GCGP-Bridge Grant Bi-weekly Report - Week 10

Archived Grants Report
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1. Executive Summary

This report covers the progress made over the last two weeks, focusing on roadmap developments, key analytics, event results, and rebate-fee distributions.

  • Roadmap Progress

    • Significant strides have been made towards integrating additional on-chain trader sources for copy-trading. The overall infrastructure has been expanded to support more decentralized perpetual exchanges (perpDEXs).
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  • Key Analytics

  • Competition Event

    • We held a decentralized copy-trading competition, and here are the results:
      • Top 1: 0x6D3b5a608e5e502A5B0e8C893651a37098dbd8d9
      • Top 2: 0x4851C353450d1a2b216604B04E5b36B97939D87b
      • Top 3: 0x95689620c6be1596e4300795029CA38552Fc119A
      • Top 4: 0x6BcD55c491106057eD94dE274791314e02D80eb7
      • … (full top 20 list can be referenced in the attached competition results)
    • For more details on the competition, see the event page: Decentralized Copy-Trading Competition on gTrade.

  • Rebate-Fee Distribution

    • A total of 3,939.5 $ARB has been distributed out of the allocated 10,000 $ARB for users who utilized copy-trading through gTrade. The rebate fee details can be found here.

2. Strategies

We have implemented several key strategies to improve and grow the copy-trading experience:
Expansion of On-Chain Trader Pool: Users can now copy traders from 14 different perpDEXs to gTrade, providing more choices for liquidity sources:

  • GMX v2** [Arbitrum]
  • Kwenta** [Optimism]
  • gTrade** [Arbitrum]
  • Avantis** [Base]
  • Equation** [Arbitrum]
  • Polynomial** [Optimism]
  • DexToro** [Optimism]
  • CyberDex** [Optimism]
  • Apollox** [BNB]
  • HMX** [Arbitrum]
  • Kiloex** [opBNB]
  • Mummy** [Fantom]
  • Rollie** [Scroll]
  • Vela** [Arbitrum]

3. Challenges

The overall crypto market has remained stagnant, and trading signals from on-chain traders across perpDEXs have been inconsistent. As a result, there is a lack of continuous, high-quality options for copiers to follow.

4. Impact

  • User Participation: 97 users participated in the competition.
  • Trading Volume: A total of $7.1M in copy-trading volume was achieved, reflecting strong engagement from the users despite market conditions.

5. Financial Summary

  • Funds Received: A total of 20,000 $ARB was received:
  • Expenditure Breakdown:
    • Distributed 10,000 $ARB to the top 20 copiers: Spreadsheet Link
    • Rebate Program: Distributed 3,939.5 $ARB out of 10,000 $ARB for the rebate-fee program. The remaining 6,060.5 $ARB will be returned to the gTrade DAO as per the grant agreement.

6. Lessons Learned & Takeaways

  • This was the first time organizing a copy-trading competition and rebate program using gTrade as the primary liquidity source. Initially, Copin had integrated only 5 on-chain traders from perpDEXs, but now it has grown to 14.
  • The current market conditions have led to low open interest across perpDEXs, making it difficult to find standout on-chain traders for copiers to follow. This has limited the choices available to users.
  • The marketing and collaboration efforts with other projects have not yet reached their full potential, which impacted the overall campaign’s effectiveness.

7. Proposals

  • Integration of Direct Copy-Trading Interface: Introducing a direct copy-trading interface on gTrade could leverage the diversity of on-chain traders across the 23 integrated perpDEXs on Copin, enhancing user engagement.
  • Campaign Continuation: Continue similar campaigns to attract and retain users while building habits around copy-trading through gTrade.
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Copin still has 6,060.5 $ARB remaining, which was not distributed for the rebate fee program. Therefore, Copin will return 6,060.5 $ARB to the gTrade DAO as per the Copin grant proposal.