{"signature": "0xaa575785ed4a60e1d5d956c6bfab9c49e7f37555b98309ce73382ecfb673715b7fe1af1a41975f1d0e84b927657c5cda43983c9aa687ebb009fd88faf99b2d4e1b", "application": {"round": "0xd755dc81c6874e4977685eeade82833d241fa51a", "answers": [{"type": "email", "answer": "eric@caval.re", "hidden": true, "question": "Email Address", "questionId": 0}, {"type": "short-answer", "answer": "EricForgy", "hidden": true, "question": "Telegram Handle", "questionId": 1}, {"type": "link", "answer": "https://discord.gg/VA6MhZ8cVb", "hidden": false, "question": "What is your project's public community chat link?", "questionId": 2}, {"type": "paragraph", "answer": "Pre-seed closed in Jan 2023 with $1M in SAFE notes.", "hidden": true, "question": "What funding sources have you secured to date?", "questionId": 3}, {"type": "dropdown", "answer": "Yes", "hidden": true, "question": "Confirm that you have read and agree to comply with the ethical standards and Gitcoin's Quid Pro Quo Policy (https://support.gitcoin.co/gitcoin-knowledge-base/gitcoin-grants/general-questions/what-is-our-quid-pro-quo-policy)", "questionId": 4}, {"type": "paragraph", "answer": "Our project supports all 3 focus areas:\n\n1. Build essential DeFi infrastructure and tooling on Avalanche\n2. Create innovative financial applications and protocols on Avalanche\n3. Improve DeFi user experience and accessibility on Avalanche", "hidden": true, "question": "Which of the listed DeFi focus areas does your project primarily address?", "questionId": 5}, {"type": "paragraph", "answer": "Multiswap is a next-generation AMM designed to handle any number of assets in a single pool while maintaining efficient and scalable pricing mechanisms. Unlike traditional AMMs that require fragmented liquidity across multiple pools, Multiswap consolidates liquidity, improving capital efficiency and reducing slippage for traders.\n\nFor the Avalanche DeFi ecosystem, this means:\n\n1. Deep Liquidity & Capital Efficiency – By enabling many assets in a single pool, Multiswap reduces liquidity fragmentation and makes Avalanche more attractive for large-scale DeFi activity.\n\n2. Dynamic & Fair Pricing – Multiswap’s novel pricing model ensures that prices adjust dynamically based on market conditions, providing fairer execution for traders.\n\n3. Native Support for Complex Asset Baskets – Multiswap is uniquely suited for yield-bearing assets, LSTs, stablecoins, and new token launches, making it a powerful tool for both institutional and retail users.\n\n4. Incentive Alignment through CAV – The protocol's incentive model, governed by CAV token holders, creates a self-sustaining ecosystem where liquidity providers, traders, and speculators are all aligned.\n\n5. Composability with Avalanche DeFi – Multiswap is designed to integrate seamlessly with Avalanche-native protocols, DEX aggregators, and lending markets, expanding the utility of assets across the ecosystem.\n\nBy introducing a fundamentally different approach to AMMs, Multiswap enhances Avalanche’s DeFi landscape with deeper liquidity, better pricing, and more sustainable incentives—attracting users, liquidity providers, and builders to the network.", "hidden": true, "question": "How does your project create unique value for the Avalanche DeFi ecosystem?", "questionId": 6}, {"type": "paragraph", "answer": "Multiswap is fully deployed on the Avaanche Fuji testnet, and we are preparing for mainnet launch on Avalanche. Our smart contracts have undergone extensive testing, and we are currently conducting a security audit to ensure robustness before opening liquidity provision to the public.\n\nRecent milestones include:\n\n- Smart Contract Development & Testing – The core AMM contracts, including the router, module manager, and incentive mechanisms, are complete and have passed all internal tests.\n- Integration with Odos – We’ve integrated with Odos, making Multiswap more accessible via DEX aggregators.\n- Incentive & Governance Model – Our staking contracts for LP token governance and CAV token emissions are finalized.\n- Launchpad Mechanism – The system for bootstrapping new tokens via the surplus model is implemented and ready for deployment.\n- Frontend & UI Development – We are actively working on the user interface to ensure a smooth experience for traders and liquidity providers.\n\nNext steps include:\n\n- Completing the security audit and implementing any necessary improvements.\n- Deploying to Avalanche testnet for final validation.\nLaunching on Avalanche mainnet with controlled access for early liquidity providers.\n- Expanding integrations with more DeFi protocols on Avalanche.\n\nMultiswap is nearly production-ready and set to become a major liquidity hub for Avalanche DeFi.", "hidden": true, "question": "What is your current development status?", "questionId": 7}, {"type": "paragraph", "answer": "Our adoption strategy focuses on incentives, partnerships, and integrations to drive liquidity and trading volume on Multiswap.\n\n1. Early Liquidity Incentives\n- LP Rewards: We will incentivize liquidity providers with CAV emissions, ensuring attractive yield opportunities for early adopters.\n- Protocol-Owned Liquidity (POL): We are exploring ways to seed initial liquidity through strategic partnerships and ecosystem grants to create a strong liquidity foundation.\n\n2. Trader & DEX Aggregator Integration\n- Odos Integration: We’ve already integrated with Odos to attract order flow from DEX aggregators, improving capital efficiency.\n- Arbitrage & MEV Opportunities: The unique design of Multiswap allows for natural arbitrage opportunities that will help bootstrap organic liquidity.\n\n3. Launchpad for New Tokens\n- Our surplus model creates a structured way for new projects on Avalanche to launch their tokens with deep liquidity from day one.\n- We plan to collaborate with up-and-coming projects looking for sustainable market-making solutions.\n\n4. Community & Governance Incentives\n- Staking & Governance: CAV holders will be able to stake their tokens to control emissions and earn a share of protocol fees, increasing engagement.\n- Target Weight Control: LPs who stake to specific assets will influence the pool’s target weights, creating a dynamic incentive model.\n\n5. Strategic Partnerships & Ecosystem Integrations\n- Collaborating with Avalanche-native protocols (money markets, lending platforms, yield aggregators) to integrate Multiswap as a liquidity backbone.\n- Engaging with institutional players and DAOs looking for efficient liquidity solutions.\n- Expanding Multiswap’s reach by integrating with Avalanche’s broader DeFi infrastructure (bridges, wallets, etc.).\n\nBy combining incentives, integrations, and partnerships, we aim to position Multiswap as a leading AMM on Avalanche with deep liquidity and sustainable adoption.\n\n", "hidden": true, "question": "What is your plan for growing user adoption and liquidity on Avalanche?", "questionId": 8}], "project": {"id": "0x31728b3a699382aa8b32ce518668d7b7aa190f54faa19395e255d0250113d1f8", "title": "CavalRe | Multiswap", "logoImg": "bafkreig7zntlphaswmdsjavhtdqzuc74brpu2lwcxu3hbo3gqdkkv5itiu", "metaPtr": {"pointer": "bafkreifr25bs7fwquzstbzk3bc7e2rgrbj4himeyrpzwk2zighoc6iel3m", "protocol": "undefined"}, "website": "https://caval.re", "bannerImg": "bafkreig7dx2yficmnqbubj2jtdopm5us37tlm5nmw3mvyxgow46eusshyu", "createdAt": 1739368767822, "userGithub": "EricForgy", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..CdrdKkvqs6gmthzwFD12g14WZCD-4UWNldaD-he6_VCgxjyFqTuWsMW7qQoiNl0iW75TtYUhEX0ByqyR29vjBw", "type": "Ed25519Signature2018", "created": "2025-02-12T13:41:22.997Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2025-02-12T13:41:22.997Z", "expirationDate": "2025-05-13T13:41:22.997Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x13691f8c51C6eB0C0C111d77C6a4053Ed074a5A9", "hash": "v0.0.0:TSXrH7mCUI4cVU9iQhxqocFpsQ4WEQZu6KqZqo7PQ0Y=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#CavalRe#8954730"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..rdAaCq3fOi07BOeuz5eXRqWNi0Ex2s9xg2zodnLhaVhqWGtywbh6-yWKUkuXvD0GgMwZZ3Xn8jXKekwcsvDgDA", "type": "Ed25519Signature2018", "created": "2025-02-12T13:40:05.429Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2025-02-12T13:40:05.429Z", "expirationDate": "2025-05-13T13:40:05.429Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x13691f8c51C6eB0C0C111d77C6a4053Ed074a5A9", "hash": "v0.0.0:3s20HzwlFhpc0f/nxqvbtN/Gw76Zqsz4+SlKafniaB0=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#TheCavalRe"}}}, "description": "The Future of   \nGlobal Capital Markets\n\nFebruary 2025\n\n# Mission Statement\n\nCavalRe is on a mission to bring all capital markets onchain for the next trillion in TVL. Traditional finance is broken, and DeFi is plagued by fragmentation and unsustainable Ponzi schemes. CavalRe is leading a revolution in DeFi, pioneering institutional-grade capital management principles while enabling emerging products to scale from zero to one.\n\n# Executive Summary\n\nMultiswap is not just another AMM. It is a new DeFi primitive designed to replace traditional exchanges and reshape global capital markets. Unlike existing automated market makers (AMMs) that rely on constant product formulas or fragmented liquidity pools, Multiswap introduces a first-principles approach to onchain trading, liquidity management, and asset allocation.\n\nDeveloped by CavalRe, Multiswap is engineered with institutional-grade financial principles, advanced numerical models, and modular architecture, enabling capital efficiency, dynamic market structures, and deep liquidity without fragmentation.\n\n# Three Core Products\n\nMultiswap introduces three core products that work seamlessly together to create a coherent incentive-aligned experience for traders, liquidity providers and CAV holders alike:\n\n## 1\\. Multiswap (DEX)\n\nAt the core of the ecosystem, Multiswap enables capital efficient, low-slippage trading of unlimited assets in a single pool. By supporting dynamic weights and post-trade price execution, it provides deep liquidity while protecting LP wealth. The unified liquidity model activated all trading pairs automatically with no fragmentation of liquidity.\n\n## 2\\. Staking Rewards (Dual Governance)\n\nOur new staking reward model is designed to combat mercenary farmers and ensure fair distribution of protocol rewards to active loyal participants. For Multiswap, we've adopted the staking reward model to create an innovative dual governance model, where liquidity providers (LPs) and CAV token holders have distinct roles.\n\nLPs stake LP tokens to pool assets to control target weights, directly influencing liquidity distribution, while earning real yield in that asset.\n\nCAV holders stake CAV tokens to pool assets to control reward distributions and earn yield in CAV.\n\nAligning incentives between liquidity providers and CAV holders fostering sustainable participation.\n\n## 3\\. Launchpad\n\nDesigned for new token launches, the Launchpad integrates seamlessly with Multiswap to provide a fair and transparent mechanism for bootstrapping liquidity. The surplus-based model ensures that early buyers contribute to the ecosystem without artificial inflation, allowing new tokens to transition smoothly into organic trading within the Multiswap pool.\n\n# What Makes Multiswap Different?\n\n* A New Primitive: Moves beyond the constant product curve to eliminate value leakage for LPs.  \n* Dynamic Weights: Enables extremely capital-efficient trades for both stablecoins and volatile tokens in the same pool.  \n* Unified Liquidity: Supports an unlimited number of tokens in one pool, activating all possible trading pairs and eliminating liquidity fragmentation.  \n* Surplus-Based Launchpad: A new way to distribute tokens that prevents distortions and enables fair price discovery, while organically growing a teams treasury.  \n* Beyond Spot Markets: Lays the foundation for fixed income and derivatives, which are the bedrock for all onchain capital markets.\n\nMultiswap isn’t just an improvement—it’s a fundamental shift in DeFi. By combining innovative trading mechanics with governance and launch infrastructure, Multiswap is positioned as a complete DeFi ecosystem for both traders and token projects. The future of global finance starts on-chain—and it starts with Multiswap.\n", "lastUpdated": 0, "projectGithub": "CavalRe", "projectTwitter": "TheCavalRe"}, "recipient": "0x13691f8c51C6eB0C0C111d77C6a4053Ed074a5A9"}}