MIP 93 - Call for Grants

Governance
42

Thank you for this proposal. I am providing feedback on grant applications in the order they were received to assist delegates in their review.

Notes on this proposal:

LP tokens represent an interesting and under-represented class of collateral for lending markets. I look favorably on this proposal given StakeDAO’s substantial existing distribution ($100M TVL).

4 Likes
43

Thank you for this proposal. I am providing feedback on grant applications in the order they were received to assist delegates in their review.

Notes on this proposal:

One of the most ambitious TVL milestones I have seen in the list of projects submitted. While I have some questions about whether their distribution plan is achievable using Tycho, given that the team has already demonstrated experience working on the Morpho stack by winning prizes at the Uniswap Atrium hackathons, I look favorably on the proposal.

4 Likes
44

Thank you for this proposal. I am providing feedback on grant applications in the order they were received to assist delegates in their review.

Notes on this proposal:

While I understand that the limited scope of this grants program may make it challenging to cover the longer term costs of operating a sophisticated dashboard, I do not believe a one-month operational commitment is sufficient to justify a grant award. A borrower-centric dashboard is an interesting product, but I would prefer to see it include a self-sustaining business plan that does not require ongoing support from the Morpho Association. For example, this might include future plans to add borrower automation tooling, or a “premium” tier with enhanced analytics that uses a subscription model in addition to a core dashboard funded by the grant.

4 Likes
45

Thank you for this proposal. I am providing feedback on grant applications in the order they were received to assist delegates in their review.

Notes on this proposal:

Principal tokens are a large market opportunity, and in light of recent market events it is clear that more sophisticated pricing mechanisms would benefit both vault curators and Morpho users. Given the existing usage of Ojo on Morpho and the size of the opportunity, I am highly supportive of this proposal.

5 Likes
46

Thank you for this proposal. I am providing feedback on grant applications in the order they were received to assist delegates in their review.

Notes on this proposal:

Delegates should keep in mind that the Morpho DAO has already allocated funding to GFX Labs/Oku Trade to build an interface to support new chain deployments. That said, this proposal is meaningfully differentiated by its open source nature and focus on simplicity for prospective integrators. These factors may facilitate use by other types of integrators, for example curators who want to run their own interfaces for their Morpho vaults.

5 Likes
47

Thank you for this proposal. I am providing feedback on grant applications in the order they were received to assist delegates in their review.

Notes on this proposal:

The proposal is interesting and the budget reasonable for the scope. My main question is around distribution – given that there is not yet a live product from the team and the X profile has 14 followers, it’s not clear to me that there is an adequate distribution plan in place.

4 Likes
48

Thank you for this proposal. I am providing feedback on grant applications in the order they were received to assist delegates in their review.

Notes on this proposal:

  1. The team has a very strong track record of building similar products and the budget request is reasonable given the scope.
  2. Delegates should note that the Morpho DAO has already allocated funding to GFX Labs/Oku for a multichain UI solution. The key distinction is that the proposed product is fully open source, making it easier for integrators to build their own brand on top of the Morpho stack with more opinionated features.
  3. It’s not clear to me that subgraphs provide an adequate solution for indexing across the full set of permissionless markets.
3 Likes
49

Thank you for this proposal. Can you clarify what a quality of 8/10 refers to? It would also be helpful to provide some clarification about the level of usage observed on your previously created products, and how the impact of the product could be objectively measured.

4 Likes
50

Thank you for your proposal. I am reviewing grant applications in the order that they have been received.

Notes:

Very interesting proposal. Allowing users to “delegate” borrowing capacity in exchange for a chance to earn fees opens up a new dimension of activity in lending markets. The budget request is reasonable given the scope of work, as is the defined milestone. I look favorably on this proposal.

4 Likes
51

Thank you for your proposal. I am reviewing grant applications in the order that they have been received.

Notes:

While the size of the grant requested is reasonable for the scope of work, I question whether these is an adequate plan for distribution, including market demand to provide liquidity for the liquidation protection contracts.

4 Likes
52

Thank you for your proposal. I am reviewing grant applications in the order that they have been received.

Notes:

While I look favorably on the idea presented in this proposal given the requests I’ve heard elsewhere for an enhanced Morpho pretense on Telegram, it lacks clearly defined success metrics that would be used as criteria for administering the “success” part of the grant program. I would suggest revising the proposal accordingly.

4 Likes
53

I’m unable to determine from this post what is the intended scope of the grant.

4 Likes
54

Thank you for this proposal. A few notes:

  1. It seems that the twitter handle you posted does not exist.
  2. While AI transaction assistants are an interesting category, given that no website or other social media links were provided, I question whether there is a clear plan for distribution.
3 Likes
55

Thank you for your proposal. I am reviewing the submissions and providing notes to help delegates in the review process.

Notes:

Very interesting use case. While it’s frankly difficult for me to assess the likely demand, DeFiDude has a long track record in the industry and access to distribution channels. If the target metrics are achieved, the yield generated by deposits through Builda would greatly exceed the total grant request, so the scope appears reasonable.

3 Likes
56

Thank you for your proposal. I am posting reviews of each grant application in order to assist delegates in their decision making process.

Notes:

I consider borrower vaults to be a promising category in DeFi lending. The budget is reasonable given the scope of work. The part of the proposal I would question the most is the distribution strategy, given that More Markets has shown limited traction so far.

2 Likes
57

Thank you for your proposal. I am posting reviews of each grant application in order to assist delegates in their decision making process.

Notes:

I look favorably on this proposal given that UI and smart contract work is already complete, with only an audit needed. Unfortunately it does not specify clear success metrics (ie, TVL milestone or net yield generated on Morpho), and should be revised accordingly.

2 Likes
58

Thank you for your proposal. I am posting reviews of each grant application in order to assist delegates in their decision making process.

Notes:

I look favorably on this proposal given Anton’s strong track record of building on the Morpho stack, as well as the interesting potential for trust minimized, autonomous systems in DeFi lending risk management.

3 Likes
59

Thanks for your comments. Distribution is always challenging even with a large grant and a strong team, as in the initial periods of Oku which you referred to a few times in your comments. We have some additional clarifications to make:

  1. Our products to date revolved around permissioned private credits with a large off-chain component ie in SPV etc. Whilst we believe that the future for RWA onchain private credits is bright, crypto is not yet ready for this asset class as evidenced by the fact that most tokenized private credits projects have either pivoted or failed. What we proposed here is borrow optimisation on existing markets, building on our existing Credio infrastructure and our modelling capability which might not be directly comparable with private credits distribution.

  2. That’s said, distribution is indeed our focus for the upcoming products. We had track record working with large protocols such as Maker/Sky on distribution, until they themselves pivoted from private credits collaterals in 2022: https://forum.sky.money/t/untangled-finance-collateral-onboarding-risk-evaluation/12006

  3. For this product, some markets (with combined TVL greater than the milestone amount) have reached out to express willingness to work together to improve borrower access, costs and user experience. We believe that, just like Google’s premium listing or Morpho’s incentives on both supply and demand sides, we could work with markets to highlight additional borrowing incentives beyond the standard optimisation results to accelerate adoption/distribution.

1 Like
60

Thank you for your proposal. I am providing notes on the submissions to assist delegates in the review process.

Notes:
While I appreciate the idea of redirecting interest to humanitarian goals, the size of the demand seems unclear and I do not find a compelling distribution plan in the proposal.

2 Likes
61

Thank you for this proposal. Notes for delegate review:

  1. Zircuit’s liquidity bootstrapping program has so far attracted >$700M in TVL for the chain, making it an interesting opportunity for the MORPHO DAO, and deployment is planned there under the new lightweight deployments framework.
  2. While Elara’s existing TVL is modest at $4M, even this level of distribution would generate interest paid on Morpho exceeding the requested grant amount within a year, so I look favorably on the proposal.

Edit: Unfortunately, after further review I have discovered that Zircuit is missing two opcodes, MCOPY and TSTORE, which are required for Morpho deployment. While this may be fixed in the future, for now this proposal will not be viable.

2 Likes