Without mincing words I’ll come right out and say it.
The price is egregious and I’m struggling to understand how the costs are this high. Your proposal is asking for over $1.5 million dollars. For a DEX
Every single L2 right now has a dex, and most of them are self funded or funded through minor ecosystem grants. Almost every single DEX is a fork of one of the major dexes, and in some cases there’s licensing agreements but nothing this high. On top of providing this massive grant, the DAO receives only 50% of revenue. As an extra kicker there’s going to be a TGE for this, which the DAO doesn’t have full control of.
DEXes are literally a dime a dozen and considered a commodity product at this point. Just like L2 chains. We just had an RFP for an L2 chain and I don’t see any reason why we can’t have one for a DEX. If we offer up $1,000,000, which is an insanely large number by the way, as a bounty for a completely DAO owned dex with a TGE that is fully controlled by the DAO I’m willing to bet we would have 10s of application minimum. For a fraction of the cost we can have a fruitful partnership with one of the other DEXes.
I’m really sorry if this sounds harsh but this feels like an insane cash grab to me. You could prove that I’m completely off base here by giving more insight into the costs. I’m seeing no novel web3 development because you’ll be using SushiSwap and standard token contracts. Just some development for the token logic. There are entire novel web3 products that receive seed funding of less than $1,500,000. This isn’t a novel product.
To summarize: I think we should do an RFP. If we don’t, even if we don’t fund a DEX, I’m certain a team will automatically come and build one because it’s a profitable endeavour. They get to keep the profits. If we pay $1,500,000 for a commodity product, and only get 50% of revenue and don’t fully control the TGE, I feel like I should rethink my bull market multiplier on product development costs 
EDIT: I just re read your old proposal. There you ask for 39,000 APE (when APE was around 5) which was about $200,000. The same proposal is now 7x more expensive?