Grant Proposal: DefiLlama <> CowSwap Integration

CoW Grants Program Funded Grants
1

Grant Title:
DefiLlama <> CowSwap Integration

Author:
GitHub: 0xngmi
Twitter: 0xngmi

About You:
At DefiLlama we are working on an aggregator of DEX aggregators, which CowSwap will be part of.

Additional Links:

Grant Category:

  • Integrations and protocol order flow
  • Decentralization

Grant Description:
We’ll integrate CowSwap into defillama completely free of charge, but would like to tap into some conditional grants in case we reach certain volume milestones. I feel like this aligns best the objectives of everyone, if our product completely flops then we’ll get no payout, while if it succeeds, we receive some tokens.

Grant Goals and impact:
Increase CowSwap usage by integrating it into our product, where people can compare multiple aggregators.

Grant Timeline:
Aggregator will be live shortly in our site.

Funding Request:
Volume milestones*:

$10M volume: 60k COW
$50M volume: 120k COW
$200M volume: 240k COW

*Volume milestones must be surpassed by December 31, 2023 to be eligible for grant funding.

All COW tokens granted will be subject to 12 months of vesting. Vesting will be done through LlamaPay contracts

Budget Breakdown:
We’ll just use the COW tokens to cover defillama costs.

Gnosis Chain Address (to receive the grant):
0x08a3c2A819E3de7ACa384c798269B3Ce1CD0e437

Terms and conditions:

By applying for this grant, I agree to be bound by the CowDAO Participation Agreement and the COWDAO Grant Terms and Conditions .

This grant used the shapeshift grant proposal as a template, in order to avoid having to go through the same governance process as it seems that the community likes these terms. Hope that is okay, if not I’ll change it.

3 Likes
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Hey @0xngmi welcome to the forum and thanks for your proposal!
I think this is a cool proposal that is aligned with CoW DAO and the Grants Program goals.
Few things I’d appreciate if you can elaborate on the proposal:

  • Defi Llama structure and product focus as a general background
  • Defi Llama’s DEX product roadmap and USPs
  • How the CoW integration is going to fit into the DEX product?
  • Is it going to be used by default?
2 Likes
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Defi Llama structure and product focus as a general background

We are mostly a TVL aggregator but we are launching this DEX aggregator because we think it’s a good product that will be useful to many people.

Defi Llama’s DEX product roadmap and USPs

We’ll just keep improving the product through user feedback, right now we don’t have a strict roadmap for it.

How the CoW integration is going to fit into the DEX product?

You can test it now, it will be one of the DEX aggregators that users can choose to swap through.

Is it going to be used by default?

No, users will choose whether they want to use CowSwap or something else like 1inch

2 Likes
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Great to see this proposal!

DefiLlama would show the price quote of CoW Swap after fee and display 0 gas costs, and then compare this against all other DEXes price quote + gas costs?

I think it would be good to keep the COW token vesting for long term incentive alignment, not necessarily to cover the development costs. I would propose to add some DAI payment to the proposal, that is at least partially to be used for joint advertisement campaigns, eg a fun launch video (like we did for the yearn solver launch here)

We can probably make the milestones a bit more ambitious. What’s the expected total monthly volume for DefiLlama?

1 Like
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Yes

What’s the expected total monthly volume for DefiLlama?

To be honest I don’t know and don’t know how to estimate it either. I just copied the volume milestones directly from Shapeshift where community seemed to have agreed on them, but I have no problem changing them, happy to change them to any numbers you like.

1 Like
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In order to accommodate @Anna’s feedback I’d propose the following:
10M volume: 60k COW
50M volume: 120k COW
200M volume: 240k COW

This makes the targets more ambitious, but also makes the reward 20% larger
LMK if that makes sense or anyone wants to make a different proposal

*actually on a second thought, I have an idea of structuring the goals as a % of total CoW Protocol volumes which will make it more generic also in the future
Anyway this will take me a bit of time to come up with.

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Yeah let’s change the goals to that then, I’d edit the original post to change them but for some reason the forum won’t let me

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That’s alright. Make the amendments in a follow-up reply and we can go from there.

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I’ve added the changes to the OP
I would like to soon propose this grant for approval.
Since there is no transaction to execute at approval time, we plan to use a new snapshot strategy to approve this grant. Will post here once it is live

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@0xngmi

Sorry for the delay in getting back to you, we recently had a CowDAO renewal proposal that also covered volume-based partner rewards. You can see the recent vote passed here.

Conveniently, we are now authorized by the DAO for the funding that you requested. I think there’s general consensus amongst the committee for this integration, and as such, can you please move this to our snapspace and we’ll get the voting done on this!

mfw

3 Likes