Grant Application: Twitter and Discord Bot (Stats)

CoW Grants Program Rejected Grants
1

CoW Twitter & Discord Bots (Stats)

Grant Title:

CoW Twitter & Discord Bots (Stats)

Author:

@bleu

About You:

bleu collaborates with companies and DAOs as a web3 technology and user experience partner. We’re passionate about enhancing the interaction between blockchain and web3 users.

In this project we would have mostly two people involved: José Ribeiro (co-founder at bleu with Fábio from Balancer Labs), and Pedro Yves. Both worked in a similar bot for Balancer (@BalancerStats).

Additional Links:

We developed several tools for the Balancer Protocol, such as Vault Internal Balances Manager, Pool Simulator Dashboard], and Pool Metadata. However, the most relevant one for this grant application was a similar bot live on Twitter (@BalancerStats) and on the #metrics channel of the Balancer Discord.

Grant Category:

CoWmunity growth

Grant Description:

The goal is to create a Twitter and Discord bot that increases awareness of CoW statistics. The Twitter bot is the primary deliverable, and if there’s interest we could also work on a Discord bot. The bots will use templated messages to post updates on protocol metrics. We’ve thought of the following metrics (but are open to community suggestions):

  • High-level metrics (daily): Trading Volume, Total Traders, New Traders, and User retention.
  • Solver metrics (weekly): Top 3 solvers in batch amount, volume, and gas per trade.
  • Tokens metrics (daily): Top 3 tokens traded in volume and $COW price.

Grant Goals and Impact:

The grant aims to improve the community’s comprehension of the CoW protocol and its metrics, thereby strengthening the bond between current members and attracting new ones to come on board.

Milestones:

Milestone Due Date Payment
Milestone 1 - Twitter Bot 2 weeks $4000 USD
Milestone 2 - Discord bot 2 weeks $4000 USD

Milestone 1 - Twitter Bot

A Twitter account that shares real-time metrics at various intervals based on templated messages. It is accompanied by a monitoring and error reporting system that guarantees the bot’s consistency and dependability.

Milestone 2 - Discord Bot

A bot has been posting similar messages on both Twitter and a Discord channel. The Discord commands have been set up so that the bot replies with the current information. Additionally, there is also a monitoring and error reporting system.

Funding Request:

We’re requesting funding of $4000 USD to be paid for each milestone, summing up to a total of $8000 USD. This funding also covers the maintenance of the bot for 1 year.

Budget Breakdown:

The budget includes the hourly rates of two developers during the development phase and maintenance costs for a year. Additionally, the funding covers the expenses incurred during the deployment process.

Gnosis Chain Address (to receive the grant):

0x554866e3654E8485928334e7F91B5AfC37D18e04

Terms and Conditions:

By submitting this grant application, I acknowledge and agree to be bound by the CoW DAO Participation Agreement and the CoW Grant Terms and Conditions.

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We demonstrated the bot’s functionality by automating a daily report on @CoWSwapStats (Twitter). You can view the first tweet from the bot by checking out the link.

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Hi there, I like this concept, although I am not sure if it will provide ROI to CowDAO. Do you have any metrics available from previous engagements to show that similar investments have benefited their communities?

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Hey @netrunner.eth! Great point that you mentioned. In our previous experience with the Balancer bot, we implemented event-tracking tweets to entice new liquidity providers for various pools. These events were triggered when someone initiated reward token streams for a pool or when LPs would receive significant protocol fees due to governance voting.

Now, we can apply a similar strategy to pick interest and drive trades within the CoW Protocol. One idea that crossed my mind is monitoring TWAP orders. By doing so, we can send alerts that encourage swaps in the opposite direction, promoting token exchanges within the batch. We’re open to suggestions here, but our overarching goal is to generate direct ROI through event tracking and indirectly by elevating CoW’s statistics within the community’s awareness.

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Interesting, thanks for your proposal. Do you have actual metrics like Netrunner asked about? For the rest I agree with what Netrunner said, the proposal has a rather high cost and the lack of direct metrics makes it hard to appreciate how it might provide a good ROI at all…

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Hey, sorry for the delay. We thought about adding a referral link that goes to the CoWSwap frontend on each tweet to track trades made after the tweets, I’m checking on the CoW discord channel to set this link. Even so, I see this project’s goal is more to consolidate users than to attract new transactions.

Adding more background to this proposal, we would not be focused on growing the Twitter user, since our focus isn’t on marketing actions. The similar Balancer project that we worked on was more focused on awareness than ROI.

Regardless of this, our main goal with this grant is to start to work with CoW protocol, since we are aware of your partnership with Balancer, and seems a good transition for us. So, one of the goals of this project is to understand more about the CoW protocol and start to contribute. However, I fully understand your points and even if this grant isn’t executed we’ll keep checking your open RFPs and thinking about new projects.

1 Like