Root Protocol - Grant Proposal Dora Grant Round 5

Dora Grant DAO
1

Root Protocol

What is Root?

Root is a platform providing institutional-grade market-making strategies to retail DeFi users on Solana. Users can perform liquidity provisioning on on-chain orderbooks like Phoenix and Openbook via just few clicks on our app.

Why is Root important?

The next generation DEXs such as Phoenix and Openbook on Solana involves active liquidity management. To perform profitable market-making on these exchanges, users are requires to build their own trading system and quantitative finance knowledge. There's also a lot of demand from retail users to provide liquidity to DEXs as they're looking for on-chain yields. There's clearly a gap in the market.

The Solution

Root provides users with:
  • Latest market data
  • Sophisticated risk management
  • Gas-free and efficient rebalancing of portfolio

With all of these, our goal is to build a platform, where anyone can become a profitable market maker.

Roadmap

  1. We currently have a market making strategy running on SOL-USDC market on Phoenix. We're using it internally and are looking to publicly launch in the upcoming weeks.
  2. In the next 6 months, we want to launch such strategies for multiple such markets on Solana and achieve consistent and predictable returns.

Experienced Solana team

I'm an experienced builder with more than 2 years building in the Solana ecosystem. Previously I worked on Solvent Protocol, an NFT liquidity protocol on Solana. We facilitated liquidity provisioning for more than 10,000 NFTs.

Grant Ask

USD $50,000

Grant Usage

  1. 2 Full stack engineers
  2. Smart contract audits
  3. Servers and maintenance costs

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