Ajna Launch on Avalanche, Including New Front-End, BD, Marketing
Request
Recieving Address: 0xA8344e5016423a6AC5b729bb1B047ADE9f4721F4
AJNA Amount: 1_000_000
Applicant and Team Information
Applicant Name: Sindermann, GoGoPool Team Member
Email: sindermann@multisiglabs.org
About
GoGoPool is a leading Avalanche native protocol, with deep ties and connections in the ecosystem - in the 6th rank (TVL) after less than a year from launch. The growth of Avalanche will be predicated on the coming launch of Subnets, which GoGoPool is focused on developing.
Currently, on Avalanche, there exist two borrow/lend markets: AAVE and Benqi. Both are permissioned markets with complex governance, making it difficult for new projects to list. There is a clear gap in the market, and we believe Ajna could become a leading borrow/lend market on this growing and dynamic chain.
GoGoPool is proposing to develop a front-end, as well as perform all the BD and Marketing necessary to get the Avalanche ecosystem onboard with the Ajna borrow/lend market - and to make this new product a leader in the market.
Project Information
What is it?
We view this project in two phases:
- Create a successful launch: deploy a front-end with high-quality UX on the C-Chain, perform all the BD required to develop strong integrations throughout the ecosystem, and marketing required to rally the community around this new borrow/lend market.
- Launch a second stage of front-end functionality: which is able to list subnet assets.
The grant we are requesting today will be used to finance phase 1.
What problem is being solved, how?
Avalanche currently lacks a permissionless lending market that could support medium-cap and longer-tail assets. At the same time, Avalanche’s (and GoGoPool’s) vision is to become a “hub” for hundreds of subnets, each potentially with its own token.
As such, there is a clear demand for borrowing against subnet and other high-quality but lower-market-cap tokens, but no protocol exists to meet this demand.
How will this project be a source of growth or success for Ajna? Please include a step-by-step summary of how you imagine the completed project will affect Ajna.
We anticipate that the existing demand + lack of competition could lead to Ajna acquiring substantial TVL on Avalanche, making it a de facto go-to lending protocol partner for anyone launching their subnet, as well as many tokens on the C-Chain.
GoGoPool will ensure sufficient liquidity and utilisation of the core markets through partnerships and direct/indirect incentives.
More TVL and utilisation means more Net Interest Margin and Origination Fees for the protocol.
What is/are the objective(s)?
Provide a curated and easy-to-access lending and borrowing experience for Avalanche users looking to earn additional yield on their tokens or borrow against them.
What is/are the deliverable(s)?
Successful launch of Ajna on Avalanche, including a new front-end dedicated to Avalanche users and DeFi integrations.
What is the timeline for completing the deliverables?
8-12 weeks for the first phase of the project, including deployment on Avalanche C-Chain and onboarding of the first partners and integrators.
Another 8-12 weeks for the second phase of the project.
What level of support do you anticipate needing through the duration of the project?
GoGoPool will handle the development of the front end, as well as BD and Marketing. We would appreciate Ajna community support to answer possible technical questions during build-out, and to participate on a few Spaces or marketing events.
How often will progress reports be published to the forum?
We will provide monthly updates on this forum and promptly communicate with the Ajna community throughout development.
What are the estimated costs associated with the full completion of this project?
The total completion cost for phase 1 is estimated to be on the order of 250K. GoGoPool will finance what the grant does not cover.
If applicable, How will the project be maintained after completion of the grant?
GoGoPool Protocol will maintain the front end at its own cost after the grant is completed.
Additional Information
How will you handle a delay in your project timeline?
GoGoPool has a top team of developers known for shipping high-quality projects with high velocity. If there are delays, we will reassess and add more talent to the deployment team as needed.
How will you handle a scenario where the project can’t be completed due to insufficient funding or other factors?
We have come to the conclusion that the funding required in this application, plus our internal resources will be sufficient to complete the project. If there are issues we will problem-solve, and find a way to launch.
How will you handle a scenario where the project is completed, but significantly under-budget?
If the project is completed significantly under budget, we’ll return the residual funds to Ajna.
GoGoPool Supplemental Information
To learn more about GoGoPool, refer to the link below:
- Website: https://gogopool.com