Grant Request by Entropyfi

[Fleabag]

Submission Date
December 21, 2021

Project Links

Twitter: https://twitter.com/entropyfi
Discord: Entropyfi
Website: https://www.entropyfi.com/
Telegram:Telegram: Contact @entropyfi
Medium: Entropyfi

Project Description

Entropyfi is building a gamified yield platform. Entropyfi can provide users a more engaging staking experience and provide projects a more sustainable locking mechanism. In addition, as the staking mechanism becomes a central part of DeFi, we think Entropyfi can create a lot of synergy with other DeFi projects on the Polygon ecosystem.

Entropyfi 2.0 will soon launch in January 2022. Entropyfi 2.0 will bring users fun ways to stake their $ERP tokens, play interesting games, and earn stable coins and $ERP income, funded by an Entropyfi Endowment. The games can come from a wide range of topics, such as predicting whether Metamask will issue a token or not, or something funny as to whether Vitalik Buterain will change his Twitter profile picture or not. We believe that Entropyfi 2.0 can incentivize many users to stay engaged in the web3 conversation, regardless of the market condition.

In addition to Entropyfi 2.0, Entropyfi will soon launch its Entropyfi PRO service in Q1 2022. Entropyfi PRO is a program designed for our partners to run sustainable staking programs. We believe that Entropyfi 2.0 can contribute to Polygon ecosystem by providing a useful service that can increase the token utility for the partners.

Amount requested

50,000 USD

Milestones

Stage 1: In stage 1, Entropyfi PRO should have distributed its first half of the grants ($50k) to 2 to 3 different partners’ Endowment programs. Each Partner will receive $15k ~ $25k in subsidy for their endowment program, which will support the rewards for approximately 6 weeks. Each partner’s endowment will have attracted at least $500k of TVL, by the end of the first stage; $25,000

Stage 2: In stage 2, as the previous stage shows the effectiveness of Entropyfi PRO, we anticipate that there will be more partner projects applying to our Entropyfi PRO program. We will distribute the second half to the grants ($50k) to about 5 partners’ Endowment programs. By the end of the stage 2 distribution, the entire Entropyfi PRO platform should have attracted approximately $15m in TVL; $25,000

[laurent]

Grant Request Status

Allocated to the team

[dddddch]

Hi everyone, we have confirmed partnerships with QiDao and VESQ for our upcoming release, and we wish to update the amount requested and the milestones for the grants applied.

@Fleabag

Amount requested

10,000 USD

Milestones

Partition A: In Partition A, Entropyfi should have distributed half of the grants ($5k) to users depositing MAI (QiDAO’s stablecoin) and participating in MAI prediction pools. The $5k of grants will be distributed to participants as an additional reward to prediction market players. The goal for this stage is to attract at least $250,000 TVL for the MAI prediction pools.

Partition B: In Partition B, Entropyfi should have distributed half of the grants ($5k) to users depositing VSQ (VESQ’s reserve asset) and participating in VSQ price prediction pools. The $5k of grants will be distributed to participants as an additional reward to prediction market players. The goal for this stage is to attract at least $250,000 TVL for the VESQ prediction pools.

The combined expectation for this grant is to push Entropyfi Polygon TVL to $1.5m within a month.

[Kouros]

Hi!

After carefully assessing your project the team has decided not to award the requested grant at this stage.

I would also like to take this opportunity to thank you for thinking about Polygon and I wish you all successes with your project.

Kind regards.