This grant will fund the development of a dYdX-specific cosmwasm smart contract to support Elixir market making vaults. Elixir vaults allow users to deposit capital and earn yield from their native delta neutral market making strategy, which in turn improves the liquidity and overall trading volume of the underlying dYdX markets. Since their vaults are proactively trading and quoting to maintain their strategies, we expect dYdX volumes and orderbook liquidity to grow as users deposit more capital.