ERIS is a leading Cosmos LST provider, speciality vault builder and protocol designer.   In April ERIS approached both @osmosis and @OsmosisGrants with the idea to develop “slow burn arbitrage” vaults to maintain the stability of liquid staked assets on Osmosis. The reception of the proposal was well received by Osmosis team and OGP members.   ERIS submitted a formal grant request to OGP in April but has never heard back from OGP. This past week Osmosis announced that it will be releasing a near identical product to that proposed by ERIS.   Osmosis contributor @JohnnyWyles87 writes: “Trialing a Slow Burn Arbitrage vault to enhance liquidity and stability” (xitter.cf/JohnnyWyles87/status/1…)   A Twitter search shows “slow burn arbitrage” being almost exclusively used in discussion of ERIS vaults: xitter.cf/search?q="slow%20burn%20arbitrage"&src=typed_query   We at ERIS are extremely frustrated and disappointed at the apparent lack of professionalism of Osmosis/OGP.   • Were details of the ERIS proposal shared with other teams?   • Why was an OGP member, who is also a contributor to a competing LST provider, involved in this process?   • Does OGP typically respond to unsuccessful grant applicants?   Projects and builders in Cosmos should expect more from a leading and otherwise respected ecosystem like Osmosis. Discussing a project proposal with Osmosis/OGP, only to discover another team receives funding to build the exact same product, is surprising.   Teams may legitimately wonder whether Osmosis/OGP are sharing proposals from one team with another team.   We have been part of the Cosmos Ecosystem long enough (4 years) to understand how grant systems work. We know multiple teams often apply to build similar products, and we accept that funding may go to different teams for similar ideas.   However, this is the first time we've seen a grant request ignored, then published with the same language and idea for a different team.

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