Integral Insights April ‘24
May 9, 2024
April proved to be a dynamic and fruitful month for our team, marked by exciting wins and the completion of several significant development milestones. Here’s a comprehensive recap:
Arbitrum LTIP Grants
We proudly secured an impressive 124 million $ARB votes to win the Arbitrum LTIP (Long-Term Incentive Program) grant. Our proposal for 225,000 $ARB in funding is a testament to our strong community engagement and commitment to the ecosystem. A significant portion of this grant will be distributed as liquidity incentives to our valued users. Meanwhile, developers who integrate our liquidity on Arbitrum will also receive rewards.
We deeply appreciate the overwhelming support from the Arbitrum community and are enthusiastic about working together to enhance trading on the platform. According to the Arbitrum Foundation, the LTIP campaign will kick off in early June, when we’ll provide new guidelines on farming programs and other key initiatives. Stay tuned for more details on this exciting journey!
Protocol Metrics
Our protocol metrics show a steady increase in engagement and trading volume. Here are some highlights:
Volume: Overall trading volume remains robust on both Ethereum mainnet and Arbitrum, reaching a new all-time high on May 1st, 2024, at 3.63 million USD on Arbitrum alone.
Average Daily Volume: The combined average daily volume across Ethereum and Arbitrum is now at 8.8 million USD, a remarkable 22% increase compared to last month.
DEX Rankings for Bluechip Pairs: Our DEX is the second-highest in trading volume for several bluechip pairs (after Uniswap), such as RPL <> ETH, LDO <> ETH, and MNT <> ETH, UNI <> ETH. Although trading volume for MKR <> ETH and LINK <> ETH is relatively lower, ranking fifth, we aim to improve our position in the coming months.
Revamping the Pool Page
April saw the successful completion of the revamped pool page, offering enhanced insights into pool performance and user experience. These improvements were guided by community feedback and data-driven insights, ensuring a more seamless, informative interface for all. Read more here.
Multi-Hop Upgrade
A significant technical advancement has been the imminent rollout of our TwapRelayer upgrade. This upgrade supports multi-hop trading, where tokens can now be swapped along whitelisted paths involving one or more pairs. For instance, the new USDC-WBTC path enables trades between these tokens via the existing WETH-USDC and WETH-WBTC pairs. This upgrade is currently being tested on testnet and will soon be deployed to Layer 2. This improvement empowers users with greater flexibility, enhancing trading possibilities.
Looking Forward
With the grant funding secured and technical upgrades nearly complete, we are entering an exhilarating phase of growth and innovation. Our team is focused on making our platform the premier destination for trading and liquidity provision on Arbitrum. Stay tuned for the exciting updates coming in June!