To all the esteemed members of the Klaytn Governance Council and the dedicated KLAY holders who are driving the vision of Klaytn forward, we extend our gratitude and respect.
Swapscanner proudly stands as not only the leading DEX aggregator on the Klaytn network but also as an active member of the Governance Council. Our consistent top position in terms of traffic and swap volume is a testament to our commitment and unwavering belief in Klaytn’s potential.
With our two-year journey, deeply immersed within the Klaytn ecosystem, we’ve identified areas of growth and potential enhancements. We have distilled these insights into a proposal that we believe can further propel the Klaytn community to greater heights.
We humbly seek your support and encouragement to continue our contributions to the Klaytn ecosystem. We urge you to take a moment to delve into the details of our proposal, which have been crafted after extensive thought and deliberation.
They have been sincere about the Klaytn ecosystem so far and have great influence in the defi sector.
swapscanner’s functions are being used not only by ecosystem participants but also by various organizations, and I believe it is desirable to support the continued development of these services.
Additionally, when looking at the SwapScanner team’s proposal,
I understand that staking volume for liquidity supply and GC maintenance is usually supported in the form of rental.
I think we need a clear answer to this.
Other teams were busy selling the invested KLAY, but SwapScanner stood out by not selling KLAY and prioritizing the survival of the Klaytn ecosystem. Such teams should be encouraged to stay and supported within the Klaytn ecosystem
No, it doesn’t. The SwapScanner team will not sell the KLAY they receive in KCF, but they will sell the KLAY they already have maybe. The difference is that they don’t sell immediately, but only for a minimal operating cost and they are already running a important service. This can be reasonable. However, Klaytn users know the importance of swapscanners team and service, so it would be nice to have a discussion about the appropriateness of size and support method.
This is an important proposal and I hope to see a lively discussion by users and GCs
As an SCNR holder, I would like to see SwapScanner receive KLAY, but the SwapScanner protocol revenue is not reaching $80/day. Is there any plan to increase the protocol revenue if supported, and if so, what percentage of the projected revenue will go to the support? 6.8M klay seems like too much.
@KaiaGovernance
The 14-day discussion period has passed, and we have discussed the relevant proposal at the GC monthly meeting, so we would like to initiate the vote.
We would appreciate it if you could proceed with the necessary procedures at your earliest convenience.
@sj_p We will share the meeting note from our November GC Meeting yesterday soon. Swapscanner proposal was one of the agendas. @Jay_Swapscanner Can you please answer the questions from the community here?
Thank you for your insightful comments and understanding regarding our proposal. We are heartened by the support and recognition of Swapscanner’s contributions to the Klaytn ecosystem. As outlined in our proposal, Swapscanner has been a dedicated contributor to the Klaytn ecosystem, and we plan to continue enhancing our impact in the future.
Our request for grant funding stems from an immediate need for operational expenses. This grant from the Klaytn Community Fund (KCF) is crucial for maintaining our short-term service operations and for furthering our long-term goals.
The grant received from KCF will be primarily allocated for staking to maintain Governance Council (GC) qualifications and for supplying liquidity to GCKLAY. This strategy ensures that the grant will not be sold in the market, thereby safeguarding the ecosystem’s stability.
Our team is committed to using these funds responsibly. We plan to utilize our own resources, supplemented by the grant, to sustain our services for the next year and achieve significant milestones. Following this, we will consult with the GC members on the best course of action—whether to continue utilizing the grant for service development or to retain it within the ecosystem.
We value the Klaytn ecosystem and believe that our collaborative efforts will lead to substantial growth and innovation. We look forward to your continued support and guidance as we embark on this journey together.
Thank you for your interest and support for Swapscanner. We understand your concerns regarding the current protocol revenue and the requested grant from Klaytn’s KCF.
It’s important to note that judging our contribution to the ecosystem solely based on the current snapshot of revenue may not provide the full picture. During times when Klaytn’s trading volume was higher, Swapscanner generated revenues close to $8,000 per day. This highlights our potential in favorable market conditions.
We are also in the process of implementing various revenue models within Swapscanner, which we expect to activate within the next month. These models are designed to significantly boost our revenue streams.
Additionally, in terms of transaction fees alone, Swapscanner is currently the third largest contributor to the Klaytn ecosystem. This is a significant achievement and a testament to our commitment and impact. We plan to further enhance and grow this contribution in tandem with Klaytn’s growth.
It’s crucial to understand that directly correlating revenue with eligibility for a grant is a narrow perspective. If this were the case, many ecosystem participants would be ineligible for support. Grants are intended to foster growth and innovation, which sometimes transcends immediate financial returns.
We have detailed in our proposal the qualitative and quantitative contributions Swapscanner has made and continues to make across various sectors of the ecosystem. We encourage you to read it thoroughly to understand the depth and breadth of our commitment to Klaytn.
We hope this addresses your concerns and we remain open to further discussion and feedback.
