(Swapr) - H1 2023 budget

2023 H1 Swapr Budget V3

Covering Swapr squad.

Spreadsheet Link: Swapr Guild Budget v3

Budget request length: 6 months (January 1 - June 30 2023)


The document will outline the 6 month budget request for the Swapr Guild. It will document the vision, objective, and responsibilities, contributor roles and compensation, as well as other pertinent expenses to be reviewed and approved by the DAO as a whole.

Guild Structure

Networks: Ethereum, Gnosis Chain

Platform: DAVI Soulbound

Guild governance members:

Member Soulbound % Address
Zett 17%
Venky 15%
Adam 15%
Violet 12%
Leo 10%
Diogo 8%
MilanV 8%
Velu 5%
Paolo 5%
Vance 3%
Mirko 2%

Governance Rules :

  • Cannot earn additional governance power past 20%
  • One month of full-time contributions to Operations guild earns 1% of soulbound governance power in the Swapr Guild
  • Need 2% to submit a proposal

Vision and Mission


DXDao always put decentralisation and privacy over anything else. Thats why, Swapr was built to be no user analytics, zero fee decentralised frontend for all AMMs and a vision to be the go-to platform for users seeking a secure, private and fully decentralised dapp that offers access to the best possible routes across various dexes and networks.


*Our mission is to build a user-friendly, feature-rich and intuitive dapp that prioritises decentralisation, privacy, and security, making it easy for anyone to access and participate in the world of decentralised exchange and liquidity provision.

Overall Guild Milestones and goals

The guild will aim to increase the usage of Swapr

  • By integrating more networks,
  • Integrating more aggregators
  • By integrating more dexes
  • Have a pivot for Swapr and remove all the other tangential or less used features.
  • Unifying the swap experience
  • Release LP Zapping.

The guild will also work closely with “Voice” guild and “Operations” guild to find the value of what is being built and delivered and for timely onboarding of resources. Swapr squad is in a state of transition for this half year with some key members undergoing reduction in the time availability for Swapr.

Some features that the squad will continue to develop:

  • Token list picker 2.0
  • Expeditions
  • Advanced trading mode
  • Charts
  • Limit orders / conditional orders

Swapr squad, along with caneyfork and the Voice guild will look at expanding the SWPR governance ecosystem and research into ways how to drive value to SWPR token.

Budget summary

This proposal approves the following future expenses as summarized below and further detailed in the accompanying spreadsheet.

The 3 month budget for Swapr is not a 50% of the 6 month budget as there is a lot of resource reduction from February. The budget spreadsheet is updated with all the calculation and kindly reach out to me if you have any questions.

And a comparison to a year ago looks like below:

Squad Metrics

From the previous proposal, Swapr has identified a reluctance in being aggressive with the expansion. So, instead this is a mellowed expansion where we will try to have one priority list for Swapr.

The goals and OKRs are for the upcoming 6 months and are aimed at increasing the amount of users using Swapr. We will aim to go about this by expanding to new networks, aggregators and dexes. We will also bring the focus of the dapp to one thing and one thing only, making swaps easier. All the less used features will be removed from the dapp and will be spin out as a separate product. We also aim for Swapr to find its own revenue source and not depend primarily on the protocol fees.

Key Milestones and Goals:

  • Unify Swapbox and improve swap experience
  • Reduce the clutter and remove less used features.
  • Maintain and improve the current featureset.
  • Extend to new networks, dexes, aggregators and bridge integrations
  • Find revenue generating sources for Swapr dapp through grants / fee share with aggregators.
  • Remove irrelevant features that are not a “swap” feature away from Swapr.
  • Research to see if we can seperate out AMM from Swapr and rebrand as a seperate product with minimal updates to existing contracts.
  • Release zapping as a feature in Swapr.
  • Investigate if Zapr could be split out as a seperate product if it finds a PMF within Swapr. (If this finds a PMF, a seperate funding proposal would be initiated)

Objectives and Key Results:

Expand Swapr presence

Key Results
Expand to 3 new networks
Add support for 5 new dexes
Add 1inch and 2 more aggregators
Add 2 bridge integrations

Improve swap experience

Key Results
16M USD 6 month volume. (current projected volume is 7M USD)
Atleast 500K volume (?) in 6 different networks
Retention? How to measure?

Guild Personnel

Individual contributor lists, contributor level information per approved guidelines, and time commitment as percentage of full time. Swapr is going through a transformation, where a few personnel are only going to be available until Feb and will move on to other products. It would be wise for Swapr to have atleast 1 more full time developer that can take over frontend leadership from Adam.

Contributor Level Time commitment (hrs/ week) Role description
Zett 7 13.33 Guild facilitator, squad lead for liquidity.eth, UX lead and Product designer (60% till Feb, 20% from March to June)
Venky 7 24 Project lead, squad lead for Swapr dapp. Splits time between other squads within Swapr guild.
Adam 7 13.33 Dev lead (60% till Feb, 20% from March to June)
Violet 5 8 Frontend developer (available 60% till Feb)
Leo 4 24 Frontend developer
MilanV 4 16 QA (40% to Swapr guild and 60% to Carrot)
Velu 5 10 Frontend developer
Vance 5 10 Frontend developer
Mirko 5 10 Frontend developer (available 60% till Feb)
Total 134.66

We also request the DAO to release 1M SWPR linearly vested for a year to the guild personnel. A portion of this would also be allocated for Voice, upon successfully leading / directing and completing milestones related to Swapr.


Swapr Guild Budget v3


Hey, edited the proposal based on some feedback that was received. Mellowed down the aggression in the product expansion and work on best effort on the new areas while prioritising Swapr expansion and user growth in the first half of the year.

1 Like

Hey, updated the budget one more time.

  1. Added a short note on the intent to bring discussions around SWPR governance and discuss next steps around SWPR token.
  2. Updated budget to reflect the actual first 3 month budget
  3. Adjusted my time to split between Swapr and Carrot.

Thanks for putting this together and revising the scope to incorporate feedback from the community. Some broad comments:

Swapr is DXdao’s most complete product. It’s been worked on the longest (2.5 years), had the highest product development cost (~$1.5m) and also the highest revenue (~$150k) and the most visible product (most liquid DEX on Gnosis Chain, CoW partnership, etc).

And while I remain convinced exchanges are the most consistent source of fees in crypto, the AMM space is highly competitive. Uniswap has a 70% market share, Sushiswap with 1.7% and Swapr with around a 0.01% market share. Innovation in the space is also happening at a breathtaking pace.

I don’t think Swapr needs to beat Uniswap to be a success. Swapr can distinguish itself by being decentralized compared to Uniswap’s VC backers, and it can also be a profitable enterprise in a smaller, niche market. Blackrock and Vanguard are the world’s largest asset managers but there are thousands and thousands of others that make money and provide value. I think Swapr will need to figure out where it sits in the market landscape. As I’ve said before, DXdao and DAO treasury management could be an attractive market to expand into.

The front-end is a very useful tool right now that should be maintained and grown in order to capture a user base as well as partner liquidity sources. Outside of that, a primary focus should be on reducing costs until there is consensus on a long-term plan for Swapr. If DXdao is going to continue to invest resources into Swapr’s success, it is better to conserve them for their highest impact.

It is good to see that this budget proposal shows a reduction in the average monthly spend for Swapr. Over the last 6 months, Swapr’s average monthly spend was around $90k, compared to the $24k in regular costs in this budget. This cost could end up being a little higher than advertised. Swapr is going through a transition, so several contributors are receiving “regular costs” in Jan/Feb but then their potential replacements are listed under “Contingency costs”. So the average spend for Jan/Feb is closer to $35k.

$20-25k a month on Swapr Essential (maintenance plus front-end growth) seems like a good target until there is consensus on a revenue-generating, long-term plan for Swapr. There do seem to be a number of contributors at part-time, so perhaps in the transition over the coming months, the Swapr squad could consolidate, which might help save costs.

One other note, in regards to SWPR token. Caney Fork is listed as a very, very part-time contributor in this Swapr budget to explore the conversation around the SWPR token. I don’t have the answers to governance, value accrual, etc but I think it’s an important discussion that needs to take place in 1H2023.