Core Contributor: Researcher

CoW Grants Program Core-Contributor-Grant
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About me :

  • Studied at HEC Paris alongside a Bachelor’s in Fundamental Mathematics.

  • Currently pursuing a top Master’s in Economics, aiming for a PhD in Finance.

  • Gained deep insight into solver team issues during a 3-month internship.

Grant Description :

The goal of this grant is to collaborate with the core team to redesign the current reward and fee system within the solver competition, with the objective of making it strategy-proof and economically viable.

Grant Type : time-based.

Grant Goals and Impact :

I will dedicate six weeks to addressing how edge cases in CoW Protocol’s reward mechanism allow value to leak to solvers and users, creating significant overhead in monitoring the solver competition. The goal is to explore and design a new mechanism that enhances financial sustainability and builds a more robust, strategy-proof fee and reward structure.

I shall provide the Services to CoW DAO from October 20th to November 28th.

Milestones :

  • Milestone 1 : mathematically formalizing a new mechanism idea which aims to incentivize solvers to join the competition on new chains.

  • Milestone 2 : putting together a concrete implementation proposal for this idea.

Scope of Work :

I expect to work ~10h per week on the project.

Funding Request :

My fee is €45 an hour, with the maximum of €700 (“Fee”) per week inclusive of taxes.

Gnosis Chain Address :

0x3639e9b1E2Fd0BbA2a0EaFB10789AEFD488A09A0

Referral :

@AndreaC ; @felixhenneke

Terms and Conditions :

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I strongly support this grant application by @hchone.

I have worked with them during their internship where they helped with CIP-72 and more generally with analyzing and breaking our quote reward mechanism. Based on their previous work for CoW, I am confident that they can provide a meaningful contribution with this grant.

The grant is about helping with a particularly painful part of our incentive mechanism: solving the chicken and egg problem of

  • having solvers come to new chains because we have order flow on that chain and

  • having users generate order flow on a chain because we have a strong solver competition on that chain.

This and similar problems for other new features have previously been addressed on a case by case basis. Developing or more systematic approach would be quite welcome here. This grant can contribute to that goal.

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I agree with @felixhenneke and I also fully endorse this grand application

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@hchone the grants council is ready for you to submit this to Snapshot. You can follow the instructions here to do so!

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As planned, I devoted sixty hours over the six–week duration of the grant. @felixhenneke will provide a link to a largely non-technical document summarizing the work carried out and presenting the proposed mechanism. By way of reminder, the objective was to examine a mechanism intended to distribute an additional reward to solvers—a tool that can prove particularly useful when seeking to encourage their deployment on a newly supported chain.

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Thanks @hchone for your contribution in this grant. I can attest to the hours worked on the project.

Here is a link to the report: Fairly Distributing an Additional Reward

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