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Received feedback from @griffgreen, @dmihal, @maxlomu & other delegates about bridges.
Synapse has been on Arbitrum for 22 months, $8B in volume, $40M in TVL, and used by 200k wallets. 50%+ of our TVL & volume is Arbitrum.
Arbitrum users bridging through Synapse have paid $10m+ in slippage. We're proposing this grant to bring concentrated liquidity to Arbitrum(Uni V2 -> Uni V3 bridge AMM).
This will save Arbitrum users millions in slippage and upgrade the whole chain's UX, giving confidence to new users onboarding into the ecosystem.
I understand the sentiment but hope delegates read our proposal and evaluate independently whether they think approving the proposal would be good for Arbitrum.
We'd love to answer any questions, DMs open.
Summary - x.com/synapseprotoco…
Proposal - forum.arbitrum.foundation/t/synapse-prot…
Synapse is asking Arbitrum for 2M ARB as part of STIP.
How will it be used?
1. Incentivise slippage-free bridging. Arbitrum will be the only chain with slippage-free bridging. Synapse concentrated liquidity efficiency is like going from Uni V2 to Uni V3.
2. Gas and fee rebates
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