SuperBoring from Superfluid
{"type": "project", "title": "SuperBoring from Superfluid", "logoImg": "bafkreidffd3ahhdzwumb5e2a5bxrdajjfyhaol24ouwbl5goidcq3fhhd4", "website": "https://www.superfluid.finance", "bannerImg": "bafkreiab7z52mw2o7phwsw2epq6ejgfxa75tcew3y3c5rvvfrc4ejd4kdu", "createdAt": 1710346430146, "credentials": {}, "description": "# **Uniswap-Arbitrum Grant Proposal**\n\n# **Project Title:** SuperBoring from Superfluid\n\n**SuperBoring is a new exchange which guarantees best price execution for long-term investors, eliminating MEV, and creating a new mode of passive investment.**\n\nPlease see [**application details here**](https://superfluidhq.notion.site/Uniswap-Arbitrum-Grant-Proposal-6ddcdb250fe9465993245e30a65d6a77)\n \n\n\n## Request for Proposal (RFP)\n\nUniswap on Arbitrum Ecosystem tools or products\n\n## Project Overview\n\nSuperfluid is a Token Infrastructure Protocol, enabling scalable onchain money streaming and distributions. Using Superfluid hooks, developers can create real-time financial apps. \n\nOur latest product, **SuperBoring, is a state-of-the-art Streaming DEX enabling Token Cost Averaging, which allows funds to be exchanged in a time continuous manner. Users’ streaming intents are pooled and then executed by solvers following the Uniswap TWAP price, eliminating MEV.**\n\nUsers send streams of tokens to the exchange, and periodically receive back their desired currency. Payouts to all users occur periodically, every time an arbitrageur settles the market. \n\n**SuperBoring’s incredible efficiency**\n\nThanks to its unique architecture (and unlike similar ideas like Paradigm’s TWAMM), SuperBoring can scale seamlessly to millions of users, with the frequency of payouts growing with volumes. We estimate that with as little as $100’000 in daily volumes, a pair would be able to payout every 5 minutes, while guaranteeing the user a deviation as small as 0.05% from the average price.\n\nAs users stream into the market, every few minutes the market will settle, paying all users straight into their wallet. This allows SuperBoring to operate on minimal TVL. Effectively “unlocking” capital.\n\nBeyond the fees paid by users to the protocol, the exchange leaks minimal value thanks to its MEV resistant architecture. This guarantees the best deal for all protocol stakeholders.\n\nMore on the design in the **[TOREX whitepaper](https://superboring.xyz/torexpaper)**\n\n## Requested Funding\n\n$150,000 in ARB\n\n## How We Will Use The Funds\n\n100% of funds will be used as early user incentives for public launch on Arbitrum.\n\n- SuperBoring is currently in private alpha with 2 currency pairs.\n- The grant will fund early user incentives to rapidly achieve the minimum volumes required to maintain high frequency settlement.\n- Arbitrum tokens will be distributed fairly to users, alongside SuperBoring’s native incentives.\n\n## Team\n\nThe team behind SuperBoring is Superfluid’s core team.\n\n- ZhiCheng Miao\n- Daniel Tok\n- Dietmar Hofer\n- Kaspar Kallas\n- Francesco Renzi\n- Joanna Szymendera\n- Vijay Michalik\n\nSuperfluid is a revolutionary asset streaming protocol, currently facilitating a streaming volume of $2.2 million / day (7th March 2024) by powering use-cases like Salaries, Grants, and Subscriptions. Our users have demanded a DCA solution, and that’s why we’re building one. \n\n## KPIs\n\nVolume per day\n\n## Milestones\n\nThe grant supervisor will be given access to the project team dashboard.\n\n1. Private Alpha (2 asset pairs in test) - Live already\n2. Public launch on Arbitrum - 4 weeks after UAGP early user rewards grant\n3. Annualised Volumes\n    i. $ 36,500,000 - 2 weeks after public launch on Arbitrum\n    ii. $ 182,500,000 - 4 weeks after public launch on Arbitrum\n    iii. $ 365,000,000 - 8 weeks after public launch on Arbitrum\n\n\n## Community and Ecosystem Impact\n\n1. **Growth in crypto adoption**\n    \n    Retail crypto investors and new crypto adopters are more risk-averse and less knowledgeable about crypto investing compared to professional traders. SuperBoring’s cheap and easy solution to token-cost-averaging will help them overcome risk and knowledge barriers and grow the web3 ecosystem.\n    \n2. **Reduced price volatility**\n    \n    In the long run, SuperBoring reduces market volatility by taking long-term buyers and sellers off the treadmill of spot markets, while guaranteeing them optimal price execution. \n    \n3. **Focus on retail adoption**\n    \n    DCA is a very popular investment strategy for new investors. It is advertised by many crypto influencers as the safest way to start. Integration with retail trading aggregators like wallets is a core focus for us, and distribution incentives are built into the business model. \n    \n4. **Growth of Superfluid activity**\n    \n    By making the Superfluid Protocol more useful, we’ll be able to attract more users to our existing use cases (Salaries, Vesting, Grants) on Arbitrum. \n    \n    Arbitrum is already our #1 chain by stablecoin volumes, but lagging behind on overall volumes (behind Optimism and Polygon). SuperBoring will bring Arbitrum to be our #1 chain by volumes, and create a positive impact on other Superfluid use cases. \n    \n    We expect SuperBoring to grow Superfluid’s payment volumes 10x (Salaries, Vesting, Grants).\n    \n\n## How this project fits in with Uniswap\n\n- SuperBoring’s TOREX (time weighted average price oracle exchange) will utilize Uniswap V3s TWAPs.\n- Upon Uniswap V4 release, a new version of SuperBoring could be built using hooks.\n- More on that in the **[TOREX whitepaper](https://superboring.xyz/torexpaper)**\n\n## Benefits to Uniswap in the Arbitrum Ecosystem\n\n- SuperBoring on Arbitrum will appeal to new users of Uniswap through its ‘stream and chill’ experience, targeting new crypto investors looking for the best value over time through a simple passive user experience.\n- Given the nature of SuperBoring, this volume is likely to be continuous and cumulative, driving long term engagement with Uniswap on Arbitrum network.\n- We chose Arbitrum for the public launch of SuperBoring because we believe it has the best fit from a technical and growth perspective:\n    - Uniswap V3 on Arbitrum has 4th the largest DEX volume, with 7.5% market share and the largest L2 Uniswap market, at 3x the second largest Uniswap L2 (7th March 2024).\n    - Uniswap V3 on Arbitrum averages $344 million / day (90 days average to 7th March 2024). We estimate we can grow that volume by 5% through SuperBoring’s token-cost-averaging, around $17 million/day = $523 million/month. Our objective is to capture 10% of that opportunity in the first 2 months since launch.\n\n## Is this project open-source?\n\n- Yes. After the public launch, the project will be open-source. Before launch, we will provide the Grant supervisor with access to the code in development.\n\n## Links\n\n- [**TOREX whitepaper**](https://superboring.xyz/torexpaper)\n- SuperBoring **[docs](https://docs.superboring.xyz/)**\n- Superfluid [**website**](https://www.superfluid.finance/)\n- Superfluid **[github](https://github.com/superfluid-finance)**", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "", "projectTwitter": ""}