Atom Accelerator DAO (AADAO) Grant Announcement Card - in Blank
Amount Asked: $211,500
Status: Rejected

Euclid Protocol ATOM Liquidity Provision

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Euclid Protocol is a unified layer infrastructure that allows unifying liquidity across the entire blockchain ecosystem, starting from Cosmos to EVM etc… As we all know the Cosmos Hub is the most liquid blockchain in Cosmos and has a huge untapped store of value that can be used to offer liquid routes for assets across Cosmos and beyond. Euclid Protocol allows to access the ATOM token from the entire ecosystem either through routes to reach USDC or any other Cosmos asset or to trade directly and access ATOM from any ecosystem without the need to bridge.

The goal is to create a stable pool for ATOM that can be used to generate fees for the protocol (AADAO can handle adding liquidity to the pool and handle the LP fees and redirect them back to the community pool) to bring value to the ecosystem and enable access to ATOM from anywhere in the ecosystem. Pairing to USDC makes the most sense as it is paired with a fairly used stable token to maximize fee generation for the Hub. This allows as well in the future (as TVL increases) for the Hub to become a Liquidity Hub as well where most routes pass through for liquidity (potentially finding one part of PMF for the Hub and the asset).

Current Status: Rejected
Funding Program: Regular Grants
Funding Category: Uncategorized / Other

Amount Requested: Amount in their initial application, or for RFPs, their first quote or that of the nearest competitor $211,500

Date Applied: Aug 23, 2024
Date Rejected: Generally includes time spent doing interviews, rescoping or amending the application, and due diligence Sep 05, 2024 (13 days)

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