[Builders Cycle 11] Inverter Network: Conditional Streaming Protocol on Optimism

Basic Details

Project name: Inverter Network

Author name and forum name (please provide a reliable point of contact for the project):
Alp Ergin, Telegram: @erginalp
Ataberk Casur, Telegram: @metaberk
Dora Celebi, Forum name: dckid34

L2 recipient address:
Oeth: 0x7878AefB660AF2B0928b6E1A8AcD2b97ECB37C2c

Which Voting Cycle are you applying for?:
Season 3, Cycle 11

I confirm that I have read the landing pages for the Builders 29 and Growth Experiments 31 Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Builders Sub-Committee: [Yes/No]:

Project Details

What are you going to build?:

We are deploying our conditional streaming protocol to have Optimism as the main operational chain for all the dApps that will be built on top of Inverter protocol, such as Inverter’s flagship dApp. See more about the protocol here.

Inverter dApp enables funders and projects to coordinate streamlining of milestone/KPI based grant & investment funding with integrated processes of one-stop funding management, active feedback loops, automated multi token funding & liquidation, and project & credentials database. All the manual steps described in the Builders application is currently a feature being built for the dApp.

An example interaction on Inverter dApp:

Each project has a project contract that can receive funding from multiple funders with multiple currencies, and from different chains. It then disburses these funds to a project team in their preferred currency based on the completion of milestones (conditions of milestones are customizable for different use cases). The sitting funds on locked milestones can be plugged into other financial protocols for automated treasury operations.

The aim is to enable automated milestone-based contracts between teams and multiple funders in multiple networks and payment tokens to reduce the administrative overhead of managing these operations- accountability, payments, joint funding, token issuance, team compensations, capital utilization, etc. Apart from editing the project contract, or a funder deciding to withdraw funds from the project, a funder will not need to coordinate a multi-sig transaction while they continuously engage with a project.

Why is what you are going to build going to succeed?:

Inverter dApp streamlines the whole project funding process from treasury generation, project roadmap building, organizational registry/KYC, grant and investment operations to milestone-based token/equity distribution in one flow.

Its main goal is to enable;

(1) Projects (DAOs, Social Enterprises, Startups, etc.) to easily apply for grant and investment funding to distribute the ownership based on their milestones and success metrics.

(2) Funders (L1s, Infrastructure Protocols, Incubators, Development Agencies, etc.) to easily create Ecosystem Funds to complement grant programs with investment programs;

  • Target small to medium sized organizations/startups to start building on Inverter dApp by applying grants and investment programs while managing their treasuries, team compensations, and token and/or equity issuance.
  • Onboard Incubator Programs, L1s and Infrastructure protocols to carry out incubation programs on Inverter while managing their treasuries to apply milestone/KPI based investments.

Is your project likely to bring new builders to the Optimism ecosystem? If so, please describe how:

Yes, firstly, every project that is building on top of the Inverter Protocol will be operational on Optimism. Currently, we have 4 confirmed integrations partners that are co-building with us - projects like Wonderverse, West, Lunapark, and Earthist. As a result these builders will build on optimism and contribute to the OP Stack. Our goal is to have minimum 10 integration partners to build on Inverter protocol, therefore, Optimism.

Our goal is to onboard minimum 50 Projects (DAOs, Social Enterprises, Startups, etc.) and 20 funders (L1s, Infrastructure Protocols, Incubators, Development Agencies, etc.) to start operating on Inverter. This will mean that all these organizations will operate their treasury operations on Optimism.

Is your project likely to improve the quality of developers in the Optimism ecosystem? If so, please describe how:

Yes, Inverter aims to improve the quality of developers in the Optimism ecosystem by providing an accountable and transparent way to evaluate and fund projects and track their progress.

Inverter brings accountability and transparency to funding operations by automating the unlocking of funds based on the successful completion of milestones and KPIs.

The increased scrutiny and accountability will drive developers to prioritize quality, transparency, and accountability in their proposals and deliverables, ultimately raising the overall quality of developers in the Optimism ecosystem.

Furthermore, by providing a platform for developers to showcase their skills and experience, the Proposal Dashboard and User Profiles with automated recording of contribution activity also has the potential to attract high-quality developers to the Optimism ecosystem, further enhancing its overall quality.

Is your project likely to improve the commitment of developers in the Optimism ecosystem? If so, please describe how:

Inverter aims to increase accountability, transparency, and collaboration for both funders and project owners. This attracts capital and creates a flywheel effect, where more projects build on Optimism and attract more funders, leading to more builders being onboarded and sticking with Optimism.

Moreover, Inverter’s protocol supports a myriad of use cases that will attract new developers to build different applications. Since Inverter will deploy on Optimism as its base chain, these developers will be joining the Optimism ecosystem to build their projects.

Provide us with links to any of the following for the project:

Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.):

Inverter measures its success by Total Value Enabled (TVE) and the amount of organizations onboarded.

  • Inverter already has over 10 registered Social Enterprises on its platform, including:
    • AGRA, Earthist, and Needsmap.coop (2nd biggest NGO in Turkey that enables crypto donations)
  • Additionally, small and medium-sized organizations such as:
    • Blockscience, Prime DAO, Avano DAO, MetaGame, Earthist DAO, Push Protocol, and many others have also registered on Inverter.
    • In total, Inverter has over 30 organizations in its pipeline to be onboarded soon.
  • Inverter has established partnerships with well-known organizations in the blockchain space, including Gitcoin, Giveth, Push Protocol, and Ceramic.

Who are your competitors?:

Our direct competitors are mainly on the web2 sector. Such as OurCrowd and Leverist.

Our indirect competitors (hoping for interoperability via our Data Commons initiative) are grant management platforms, web2 crowdfunding platforms, and web3 organizations such as Questbook.

What differentiates you from your competitors?:

Inverter differentiates itself from traditional grant management programs and web2 crowdfunding platforms through its focus on leveraging web3 technologies to provide a more flexible, customizable, and transparent funding & investment platform. In comparison to web2 crowdfunding platforms, Inverter offers milestone-based investment with on-chain governance, multi-asset funding, and automated liquidation to a single asset. Furthermore, Inverter’s integration with on/off-ramp services allows for seamless conversion between fiat and cryptocurrencies, further expanding its utility beyond existing competitors.

Will your project be composable with other projects on Optimism? If so, please explain:

  • Module composability: Inverter’s smart contract architecture is designed to be modular and composable. Inverter supports an ever-evolving library of modules that serve the specific business logic a user or dApp desires to apply to their use case.
  • Protocol interoperability: Inverter modules can easily integrate with other organizational and financial protocols in the blockchain ecosystem.

To give a set of examples we are pursuing with our partners:

  • Enabling KPI-based funding with community disputes via UMA Optimistic Oracles.

  • Automated contributor compensation management for the project funding inflows via 0xsplits.

  • Automated on/offramp via Mover and Yellowcard.

  • Generating yield for the locked assets in future milestones via Aave.

  • On-chain compliance and verification via Polygon ID.

  • Governance agnostic: Any organization or collective using a governance protocol can set their funding policies internally and use Inverter to automate the execution of their policies in a dynamic data-driven way.


Who are your founders?:
Alp Ergin



Ataberk Casur



What makes your founders well-positioned to accomplish your goals with this project (1-2 sentences on each)?:

The Inverter team is led by co-founder Alp Ergin, who has extensive experience in web3 and has contributed to the development of several major projects, including Prime DAO, Gitcoin DAO, Celo Network, and many more as advisors. He also founded a startup that provided solutions to local farmers to turn food waste into nutritious snacks and worked with NGOs that operate operations for European Union Horizon Grants program and UN SDG Programs. Ataberk Casur co-leads the Product Chapter and Mechanism Design for Inverter and is passionate about building regenerative systems that empower individuals and local entities. The team relies on his approach that leverages Web3 protocols to create a more resilient network.

Tell us about the rest of your team (if there are more teammates):
Carlo Mallone: Advisor at Inverter

Ex-CTO of Molecule


Baran Canbaloglu: Co-Head of Product & Product Owner at Inverter

Solution Designer at Vodafone


Marvin Kruse: Head of Backend Development at Inverter

CEO and Founder at Byterocket; developed with Kollektivo and PrimeDAO


Elif Nisa Polat: Lead Program Manager & Advisor at Inverter

Consultant at World Bank


Lea Filipo: Head of Design at Inverter

DAOStack/Genesis, Gnosis DAO, Glassnode

Bora Baloglu: Backend Developer at Inverter

Oktay Senkan: Front End Developer at Inverter

Is this your first Web3 project?:


If not, what else have you built? (Share links, Github repository, or any other useful information.):

I understand that Builders grants are subject to a 1 year lock-up, as explained further in this post 3: [Yes/No]:


Is your project funded? If so, provide an estimate of how many months of funding runway your project has:
Inverter has been funded with grants, angels, and self-funding. Our current runway covers 15 months of development.

Grant Request

What is the size of the grant request? (50k OP max):
50K OP

How do you justify the size of the grant?

We are committed to building on Optimism and have Optimism become an Inverter Guardian to be able to participate in the protocols future roadmap and governance. We are asking for this amount to be able to incentivize our protocol integration partners to integrate to Inverter protocol and build new SDK modules on top of Inverter, therefore, on top of Optimism. Parts of the grant will be used for module incentivisation where part of it will be used to onboard startups and social businesses to web3 to maintain their funding operations on Inverter dApp.


Describe in discrete steps your plan for accomplishing your project:

  1. We will deploy Inverter Protocol on Optimism latest by end of May.
  2. We will make sure to build the features necessary to have Optimism create a profile to run a pilot grant & investment program during Inverter dApp’s beta launch latest by end June.
  3. We will make sure to onboard 50 organizations that run their treasuries on Optimism by the end of Q4.
  4. We will enable native OP token holders to participate in Optimism grant & investment program run on Inverter dApp.
  5. We will iteratively build new modules and protocol integrations in sprints based on stakeholder feedback and the broader vision of easing the funding process for multi-entity coordination for digital and on-the-ground community adaption.
  6. We will release our SDK to for other platforms to integrate our protocol and Optimism.
  7. We will create an incentivized process for other developers to contribute to Inverter’s module development.

Please provide any additional information that will facilitate accountability:(smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.)
Foundation wallet: 0x10666d9c6295E838d3b8B84ffcC97d62EF7e6120

Does your plan depend on the receipt of OP tokens?:

No it doesn’t. We have enough runway to maintain building on top of Optimism and enab

What is your plan for the use of the OP token after the 1 year lock-up?:

Our aim is to incentivize projects integrated on Inverter protocol & optimism to build modules. And allow applications that have established their project on Inverter dApp to on top of inverter for different use cases.

Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project during the 1-year lock-up period.

Milestone Type Milestone Source of Trurh
Benchmark Minimum 10 integration partners to build on Inverter protocol, therefore, Optimism. Inverter Website and Documentation of Integrated Partners
Benchmark Minimum 50 Projects (DAOs, Social Enterprises, Startups, etc.) on Inverter dApp to operate their treasuries on Optimism Inverter dApp + Dune Analytics will be built for reporting
Benchmark Minimum 100 project contributors to maintain their compensation management on Optimism. Inverter dApp + Dune Analytics will be built for reporting
Benchmark Inverter’s Data Commons for Interoperable Project and Organization activity registry for Contributors. Inverter Network SDK
Benchmark Next Modules that we aim to build for the next year:
  1. Enable KPI based grant funding with community participation for optimistic oracle disputes
  2. Automated contributor compensation management for project teams
  3. Funding in Multiple Currencies and Liquidating Payments in the project team’s desired currency
  4. Automated On/Offramp to Bank accounts
  5. Integration with KYC and compliance verification provider
  6. Integrating with a Multi-Chain solution
  7. Enabling Token/NFT issuance per milestone
  8. Enabling milestone based investments with SAFT/SAFE integration|Inverter Network Github|

Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards.

Inverter Protocol

Milestone Type Milestone Source of Truth
Critical Inverter Protocol will be deployed on Optimism latest by end of May, 2023. Inverter Network Github / contract
Critical Minimum of 10 projects will be integrated to Inverter protocol therefore having Optimism as their main operational chain. Project Github will be shared
Critical Make Optimism an Inverter Guardian for continuous maintenance, testing and community support for years to come. Release of Inverter Governance Documentation + Guardian NFTs

Inverter dApp

Milestone Type Milestone Source of Truth
Critical Create a funder profile for Optimism to run Grant & Investment programs on Inverter dApp Inverter dApp + Dune Analytic will be built to analyze
Critical A minimum of 50 Organizations to operate their funding operations on Inverter dApp Inverter dApp

Optimism Relationship

Does your project solve a problem for the Optimism ecosystem?:

Accountability: OP community members have expressed concerns about the lack of accountability for the grants distribution. Optimism recently brought on milestone-based funding as a response. Yet, the system is manually handled and still siloed away from easy observation by the OP community throughout this process. Couple examples from the Optimism community are here, here, and here.

Transparency: Feedback from the Optimism community has highlighted concerns around community participation and a lack of clarity in the application process. References can be found here, and here.

Milestone Management: Each sub-commitee has customized milestone based payment programs, with different funding unlocks at various periods that are run manually.

Collaborative Funding: Collaborative funding is hindered by a complex landscape, causing administrative burdens. Contributors face various challenges, including dealing with different DAO payment schemes, paperwork, and governance processes, resulting in less time for building.

Conviction Funding: No system exists for efficient funding coordination among Optimism’s treasury and interested parties. A subcommittee’s funding of a proposal can set standards and attract new funding applications from stakeholders contributing to the Optimism ecosystem.

Enriched Attestations: To scale, attestations need automated and verifiable activity. Current solutions only record transaction-based activities on Attestation Station. For a social layer of the P2P economy (e.g., reputation systems, impact certificates), we need a way to effectively record creative activities, such as skill trees, verifiable contribution history, loans, and voucher systems.

How does your proposal offer a value proposition solving the above problem?:

  1. Accountability: Inverter holds projects accountable by setting specific milestones and KPIs that require proof documentation. As milestones are completed, funding is progressively unlocked and progress is transparent to the community. Funders can withdraw funds if progress is unsatisfactory.

  2. Transparency: Inverter provides transparent Funder and Project dashboards, promoting community participation and reducing communication issues. Teams can use one proposal for multiple organizations, accommodating specific needs, and saving time.

  3. Milestone Management: Inverter simplifies customization of milestone-based payment programs for Optimism sub-committees, enabling automation of funding disbursement based on different KPI/milestone requirements. This allows sub-committees to focus on funding policies, while Inverter executes them dynamically.

  4. Collaborative Funding: Inverter makes it easier for multiple organizations to collaborate on funding a project by creating a single project contract that can pool funding from multiple funders and manage payments to the team. This simplifies the process for contributors, who no longer have to track payment schemes from different entities, and can automate a customizable stream of funds to every contributor working on the project from the project pool.

  5. Conviction Funding: Inverter enables different funder groups to collaborate and fund projects based on the conviction model, which uses prior engagement to signal support. Automating the model reduces coordination costs and optimizes funding allocation, and funders can receive high-quality funding applications.

  6. Enriched Attestations: Inverter enables automated registry of funding and contribution activity by organizations and contributors. This information can enrich Optimist NFT profiles of organizations and users and grow the use-cases of building on-chain DIDs through Attestation Station.

Why will this solution be a source of growth for the Optimism ecosystem?:

It is stated under Optimism’s vision (The Optimistic Vision) that Optimism expects that as the collective grows the collective public goods will also grow. Inverter is an infrastructure that can help facilitate this experimentation process by streamlining customized funding processes with reduced overhead and support Optimism’s existing subcommittee-based governance structure, along with other key stakeholders, to establish a sustainable ecosystem for project and public goods funding.

Bullet Points

  • Optimism can streamline its grant & investment programs transparently while onboarding its community to participate in the decision making & validation process.
  • Optimism can build a culture around the reporting of funded project milestones and deliverables. This, in turn, will generate a healthy cultural environment that will incentivize a network effect for building quality.

As we onboard more projects and organizations to Inverter protocol and the dApp, we will be onboarding them to Optimism therefore increasing the amount of developers and organizations that operate on Optimism.

How committed are you (and your team) to building on Optimism?:

We have been talking with multiple Optimism Business Development team members for the last one year to participate in the ecosystem. We chose our main operational chain to be Optimism on day one. We are committed.

Is your project Optimism Native?:

Yes, Inverter is Optimism Native.

We chose Optimism as our main base because

  • It enables cheaper and faster transactions on Ethereum, making it ideal for targeting communities in the Global South.
  • Many projects we collaborate with are deployed or planning to deploy on Optimism.
  • We aim to become a multi-chain protocol while avoiding technical debt.
    • Will integrate with other protocols on our base chain and use cross-chain bridge solutions like Connext and Axelar to serve users on other chains.


I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: [Yes/No]:


I understand that I will be expected to following the public grant reporting requirements outlined here: [Yes/No]:



Hello @dckid34 ! giving you a heads up that this will be the formal comms channel with the grant council builders subcommittee, which consists of @Gonna.eth @kaereste @danelund.eth, and myself. We’ll make sure we’re around to address any questions you have in this process.

Milestones look good.


Hi @jackanorak. Thanks for the heads up, we are here to answer any questions from the builders subcommittee and the Optimism community :seedling::nazar_amulet:

1 Like

@dckid34 - I’m one of the members of the grants council evaluating your grant milestones. Can you please provide an update on your progress?

1 Like

Hey @mmurthy , thank you for your support.

This is Uzi from the Inverter Core Team. I’m excited to bring you up to speed on some major developments:

While building the Inverter dApp as promised in our initial proposal, we realized that by pivoting our focus towards enhancing our protocol architecture, we could unlock significantly greater value for both Inverter and the Optimism ecosystem. This strategic shift, we believe, focuses on our strengths more and better serves the purpose of this grant.

Following our conversations with Mark Gerhart and considering the strategic evolution of the Inverter Network, we would like to change our original proposal to better reflect our new roadmap, focus, and goals.

Here is the updated proposal:

Reasoning behind the change

Up until May 2023, our efforts were concentrated on developing a dApp that was built on our modular architecture. Our primary objective was to enable a platform where funders and projects can efficiently coordinate and distribute milestone/KPI-based grants and investments.

While developing our protocol architecture to build the Inverter dApp, we recognized that the Inverter Protocol had a unique potential to address a recurring problem. We realized that most applications that want to leverage blockchain-enabled technologies share common design patterns yet repeatedly face the challenge of reinventing solutions for their custom needs.

A typically observed design pattern includes a permissions structure to regulate asset flows, such as whitelisting wallets, as well as distinctive mechanisms for both asset inflow (e.g., staking) and distribution (e.g., split payments). Moreover, applications typically implement a specific business logic, such as milestone-based strategies, to govern how assets are used and the interaction among smart contracts. By transforming these patterns into a modular protocol infrastructure that offers a flexible, adaptable, and secure foundation, we could significantly reduce app development time and costs, from ~5 months and $200,000 to a fraction of that.

During the development of the architecture, as we sought feedback on our design, we realized a growing demand from various organizations and projects, from web3 startups to worldwide mechanism design agencies, from traditional banking applications to centralized exchanges to build and iterate on our protocol. Since then, it became clear that transitioning to a protocol infrastructure would necessitate a comprehensive reevaluation of our product, technological framework, and team. It was important to acknowledge that we could not focus on one application that utilized our protocol. Therefore, we decided to 100% concentrate on perfecting and expanding the capabilities of the Inverter Protocol that could power thousands of different applications. After May 2023, our strategic direction took a pivotal turn towards fully focusing on the potential of our protocol technology.

Ultimately, our main objective with the grant funding was to retroactively reward developers within the Inverter ecosystem and to sponsor bug bounties. Given our current focus on Inverter Protocol, this approach has become even more important. Now, if a developer contributes to a module that is later utilized by others, the developer will be rewarded retroactively to encourage further contributions.

Project Details

What are you going to build?:

Inverter is building a no-code platform with a unified network stack to offer ready-to-use, customizable, and quality solutions to configure custom Web3 protocols. Moreover, projects can expand functionalities with on and off-chain integrated solutions, all without needing to build anything from scratch. Our focus is to offer a high-quality, scalable, and upgradeable protocol infrastructure targeting real-world applications such as netting protocols, mutual credit, RWA tokenization & securitization, and ERP/NRP integrations.

At heart, Inverter offers the Inverter Open Library of Modules; reusable, upgradable, tested & audited repository of stand-alone smart contracts; that can be customized and composed into protocols and mechanisms. The core operator contract, called the Orchestrator contract, acts as the interoperability layer between Inverter modules and connects enabled modules for managing asset flows, authorizations, and other logic functionalities, allowing for low code interfaces to configure and dynamically operate smart contracts. Due to the design benefits of Inverter’s architecture, projects can immediately add and modify functionalities without any additional development or auditing costs.

Since transitioning from a dApp to a protocol stack, Inverter has developed 15 modules and implemented 6 workflows within just 6 months. Our pipeline includes 8 PoCs, ranging from a novel KPI-based staking contract to bonding-curve powered micro-lending; from impact-based autonomous payment systems to the issuance of community tokens. Furthermore, Inverter has formed several key design partnerships with highly reputable builders in the ecosystem, such as Informal Systems, Connext Network, Source Network, and ENS to enhance our stack’s capabilities and offer more integrated solutions for our users.

Why is what you are going to build going to succeed?:

By approaching the problem from an infrastructure technology level, rather than the typical toolkit offered by low-code solution providers, our technology not only reduces the barriers of integrating Web3 but also opens up a design space. It enables seamless integration of a composable Web3 stack according to custom requirements, akin to assembling LEGO pieces, ensuring system coherency even when components are replaced or modified, without needing to manually develop or even know the intricacies of blockchain technology. This way developers can simply focus on configuring and developing custom workflows without the burden of reinventing the rest of the architecture. This symbiotic relationship where our protocol evolves with more users is central to Inverter’s success.

Our goal is to open up and scale our protocol to external contributions by ensuring a trusted and consistent quality standard. Our strategic initiatives include the Inverter Security Standard with 0xMacro; and Starter SDK with ENS, Connext Network, and Source Network. Moreover, we are also building the Control Room, a Low Code Platform for builders to configure their protocol, simulate their token issuance and distribution flow, deploy it, monitor it, and then operate it without manually interacting with any smart contracts.

To conclude, Control Room will play a crucial role in increasing the adoption and usability of our protocol while expanding Inverter into a fully streamlined network stack. In the future, we are envisioning ad-hoc toolings such as widget APIs to integrate into custom UIs, automated indexing as well as a blockchain-abstraction stack (account abstraction, chain abstraction, compliance solutions, app-chain spin-ups).

Ideally, protocols that deploy on the Inverter architecture will drive innovative contributions to Inverter’s Open Library as custom modules to meet their unique needs. Since Inverter architecture embraces composability, these project-specific modules will further expand the Inverter library, becoming available for future use by other projects. This will foster an interconnected Inverter ecosystem where every protocol shares a compatible architecture, mutually benefiting from each another’s innovation.

Is your project likely to bring new builders to the Optimism ecosystem? If so, please describe how:

Yes, Inverter will enable new applications to deploy on Optimism easier and faster. Moreover, new developers will be encouraged to contribute since they will have access to continuous retroactive funding as their contributions are utilized.

We currently have 5 projects deploying on Inverter that will utilize Optimism as their operational chain and we haven’t even started to communicate our solution via any marketing effort. Our goal is to co-market our solution to attract at least 10 high-quality projects that will add value to Optimism as a whole.

Is your project likely to improve the quality of developers in the Optimism ecosystem? If so, please describe how:


Firstly, each new module built on Inverter protocol will be composable and readily accessible by all applications leveraging Inverter. This eliminates the need for custom smart contract development and makes every open-source contribution widely accessible by applications as a feature.

Secondly, every new module has to meet the “Inverter Security Standard”, which involves extensive testing coverage and a comprehensive security audit to ensure a high benchmark for security and reliability.

Through our ongoing initiatives, Inverter focuses on exploring and developing solutions that can introduce Optimism to real-world use cases in developing regions. To name a few, we are helping Topos Network to enable micro-credits in their remittance hubs in 5 countries in LATAM, Africa, and SEA in a Western Union-like structure; working with Informal Systems and Odeal (the largest payment processor in Turkey) to prototype a nationwide netting protocol; and working with Paribu (largest CEX in MENA) on an NFT Fractionalization project for a $30M valued art collection. Moreover, through initiatives like Starter Kit and Control Room, Inverter aims to onboard many developers and startups by abstracting away the technical complexity and development costs of innovation on the blockchain.

Is your project likely to improve the commitment of developers in the Optimism ecosystem? If so, please describe how:

Yes. Developers will no longer be required to write every custom smart contract from scratch and go through a new audit each time. They can simply rely on Inverter’s modular protocol architecture to configure their workflows and add specific features if needed. Furthermore, by sharing fees with developers for their contributions and ongoing maintenance, Inverter promotes a deeper commitment to the ecosystem.

Inverter aims to become an open-source protocol standard that can streamline the development process so builders can concentrate on creativity, real-world impact, problem-solving, and mechanism design.

Describe in discrete steps your plan for accomplishing your project:

  1. We will deploy the Inverter Protocol on Optimism by the end of May 2024.
    • We plan to deploy Inverter Protocol on the Optimism testnet in March, followed by the mainnet by the end of May 2024.
    • We plan to release the first version of the Control Room, a low code interface to configure and operate a custom workflow, during the testnet phase.
  2. We will release our SDK for other platforms to integrate our protocol and Optimism.
  3. We will create a continuous retroactive funding mechanism to encourage new developers to contribute to Inverter’s module development.
    • The fee sharing mechanism will be introduced during the launch.


New Milestones (Protocol Focus)

Old Milestones (dApp Focus)

Milestone Type Milestone Source of Truth *Notes
Benchmark Minimum 10 integration partners to build on Inverter protocol, therefore, Optimism. Inverter Website and Documentation of Integrated Partners, Dune analytics for the total value enabled We are on track to have 10 integration partners to Inverter Protocol
Benchmark Minimum 50 Projects (DAOs, Social Enterprises, Startups, etc.) on Inverter dApp to operate their treasuries on Optimism Inverter dApp + Dune Analytics will be built for reporting This was a benchmark for the dApp.
Benchmark Minimum 100 project contributors to maintain their compensation management on Optimism. Inverter dApp + Dune Analytics will be built for reporting This was a benchmark for the dApp.
Benchmark Inverter’s Data Commons for Interoperable Project and Organization activity registry for Contributors. Inverter Network SDK This was a benchmark roadmap feature for the dApp.
Benchmark Next Modules that we aim to build for the next year:1. KPI Based funding 2. Automated contributor compensation management 3. Multiple Currency Funding 4. Automated On/Offramp to Bank accounts 5. KYC module 6. Multi-Chain payment processor 7. Token/NFT issuance per milestone 8. Milestone based investments Inverter Network Github We have built 8 modules, but the module roadmap is not influenced by the dApp feature requirements. Rather, it is influenced by the dApps building on Inverter.
Milestone Type Milestone Source of Truth *Notes
Critical Inverter Protocol will be deployed on Optimism latest by end of May, 2024. Inverter Network Github / contract Inverter Protocol v.01 was kicked off in May, with full transition from the dApp.
Critical Minimum of 10 projects will be integrated to Inverter protocol therefore having Optimism as their main operational chain. Project Github will be shared On track to integrate 10 projects to Inverter protocol. Via our advocacy for Optimism, we are doing our best to direct projects to choose Optimism as their operational chain. However, the final decision rests with those projects (Currently we have a minimum of 5 projects that agreed to deploy on Optimism as their operational chain).
Critical Make Optimism an Inverter Guardian for continuous maintenance, testing, and community support for years to come. Release of Inverter Governance Documentation + Guardian NFTs
Critical Create a funder profile for Optimism to run Grant & Investment programs on Inverter dApp Inverter dApp + Dune Analytic will be built to analyze We are not working on the dApp as we transitioned to the protocol.
Critical A minimum of 50 Organizations to operate their funding operations on Inverter dApp Inverter dApp We are not working on the dApp as we transitioned to the protocol.

Thanks for the detailed explanation @Uzi. With this pivot, it looks like you guys are focusing on something different from originally approved grant. We unfortunately can’t recommend the foundation to release the funds for the grant since the milestones are not complete and we didn’t hear back from you regarding the pivot until now. Our recommendation is to apply for a new grant this cycle. You can apply here under the builder grant here.

cc: @PGov

1 Like

Hi @mmurthy ,

I am Ata, one of the initiators of Inverter Network.

I would like to thank you for your diligence and address the concerns you raised regarding the direction and focus of our project with respect to the Builders grant and clarify our ongoing commitment to the original goals set forth in our grant application.

I would like to go over them point by point based on your message:

1. “Focusing on something different from the originally approved grant.”

To clarify, Inverter is not focusing on something different from the originally approved grant. We are still committed to the original grant objectives. Our focus on developing the Inverter protocol has not wavered. The Funding dApp, which we specifically named flagship dApp for this reason, was one application made possible by the technology that we were developing to demonstrate our protocol’s capabilities. And we have actually built the dApp, but decided not to release the front-end to maintain focus on a technology that we believed could have such a transformative impact in onboarding real world communities to Web3. However, we still released an early version of it to facilitate the aid efforts during the Turkish earthquake together with other ecosystem collaborators.

The evolution of Inverter builds upon the foundational technology we specified in our grant application, which we outlined in this paper. And we have been actively building on this protocol and the modules for applications that will be deploying with us with mainnet launch. You can see from our Github that we have been constantly building since the Builders Grant was approved, albeit in an extended timeframe as we had to accommodate new needs and responsibilities that came with becoming a protocol infrastructure.

Most importantly, as we tried to explain above, we realized that rather than building a single dApp, building the technology that allows anyone to easily build new dApps would be a much more important contribution to the ecosystem. Such that, anyone from Optimism community could launch this dApp using the Inverter protocol, and many different iterations of it, without needing to incur all the costs and efforts associated with the required smart contract development.

2. “The purpose of the grant”

We applied for The Builders primarily because we were seeking the development and expansion of the set of available modules and contributions for the Inverter protocol and its SDK with a community of open source developers. This goal remains unchanged. By expanding its module library and quality, we aim to enable diverse applications to access the features they need to onboard Web3.

To reiterate, every module contributed to Inverter’s module library is instantly accessible by all the applications that utilize Inverter protocol, allowing them to expand features without aggravating costs, and most importantly, enabling iterative development on Web3 possible.

3. “The milestones are not complete”

We acknowledge that this strategic transition resulted in a delay in our launch, but we are still on track towards progressing on our protocol milestones before the release of the grant by the end of May. And we will be documenting the progress for each milestone as we near mainnet deployment with the initial set of applications and products utilizing Inverter protocol.

4. “We didn’t hear back from you regarding the pivot until now.”

We have actually been reaching out to Optimism team members in an ongoing way (e.g. Binji, Palash, Mark). We have been more actively communicating this since last December with presentation and documentation, and requested guidance on how to formally report on our project’s evolution with respect to the Builders grant, and were recommended to submit a report on the changes and rationale for this pivot on a forum post, which we were going to share within the same days of your comment.

Our communication with the Optimism team has been ongoing, with efforts to provide updates and seek guidance since last December. The forthcoming forum post will detail this pivot and our progress, reaffirming our commitment to transparency and alignment with the Optimism ecosystem’s goals.


We would like to highlight that as part of the Builders grant, we would appreciate your understanding of how the building process itself can inform the evolution of the project. We have always believed in and committed to doing what is best for the ecosystem and blockchain’s impact on the world in our continuous building efforts.

We believe this path is much more valuable for the Optimism ecosystem in both the short and long term. The flagship dApp can always be built with the SDK we are building, and it will be possible because we decided to take the time and care to make this possible with our technology for anyone to be able to build what we have done, in their creative ways. This approach aligns with our mission to deliver lasting benefits and foster innovation within the ecosystem.

We appreciate you taking the time and care to read through our project’s evolution and how it relates to our original grant, and we would like to align with the Builders team on our pathway. We will be documenting our journey and milestones as we are getting ready for mainnet deployment, and we are looking forward to demonstrating our progress and the tangible benefits of our technology to the Optimism community.

We would be more than happy to set up a call to discuss this further, and happy to provide a response to any additional questions you may have. Thank you!

@ataberkcasur - Thanks for your detailed response. The milestone and metrics committee had a discussion regarding your project and status.

We fully understand your reasoning for changing your approach. But since there are significant changes to the original application and it wasn’t communicated to the grants council until now, it has to go through the approval process again. The grants council and foundation are separate so we aren’t able to see what you discussed with the foundation.

The best approach is to apply again this season (deadline is tomorrow for the current cycle) or apply for the next retropgf round.

We unfortunately will not be able to recommend the foundation to release funds for your project.

cc: @PGov @v3naru_Curia

@ataberkcasur Just wanted to follow-up once more and see if you have any questions about the suggested approach.

Hello @mmurthy,

I would like to transparently express that we were shocked to receive the initial response from you. We didn’t expect this outcome from the grant process, as we have not stopped the work but only expanded the work in a direction that we believed is a better contribution to the ecosystem. Our github is open sourced, and you can check all the work that has been completed. We anticipated that our evolution would be met with understanding, and have started reaching out to Optimism team to inform them and align on our direction in the last year. We believe that the journey of building is inherently iterative, where, as you iterate through the course of building, new problem spaces emerge, and perhaps new discoveries that guide the evolution of your project. Certainly, for Optimism builders as well, we believe that encouragement should be towards supporting projects throughout their evolution in a way that maximizes their contribution to the Optimism ecosystem.

While we understand the necessity of adhering to the governance structure, we also believe in governance that embodies flexibility and human understanding such that it can acknowledge the dynamic nature of startup development but also align with the long-term objectives of Optimism. In case you would like to punish contributions that have been strayed out of the initial scope of the grant, it makes sense to definitely cut half of the grant to show a lesson that projects do need to communicate more and consult this council on strategies regarding a project’s evolution. Even though we believe this type of rigidity might not fit the realities of agile and iterative startup building, we understand the governance requirements that fits better into the rubric on paper. However, we believe that governance is also about delegation than just rules to preserve the human touch in understanding what projects actually go through in their building journey, and how to accommodate an ever-changing world in a way that helps Optimism’s long-term goals the most.

It is from this perspective that we recommend revision of the decision on our grant. We do not see any reason for canceling the grant altogether, as even in the initial grant we have outlined our work towards the Protocol, and the purpose of the grant in expanding the available set of modules for the protocol to be able to support more applications that would like to build on Optimism. We believe we should still be considered for at least half of the grant. The work is there. While the decision to recognize this effort rests with you, we hope for a resolution that reflects a deeper understanding of the challenges and realities faced by projects. As we have no authority to argue against the council’s decisions, we can only point out what we observe as the defaults of the decentralized governance and a lack of place for equitability in it.

Before you make a final decision, we would like to have a floor to discuss this proposal further. We would appreciate joining a call with the Builders Council, or bring this up to the wider community, if this is the approach you recommend. We would like this proposal to be considered in itself stand-alone. We already applied for a new Builders grant as well, and will in the future apply to other grants in Optimism that align with our mission, but these will depend on new budget requirements and scoping rather than compensating for the old ones.

We look forward to a constructive resolution that aligns with the principles of innovation and positive-sum contribution in supporting projects for the growth and impact of the Optimism ecosystem.


Hello @ataberkcasur, please send a message to me on telegram @juanbugsun. The milestones committee have some questions and want to work quickly to sort this out if anything can be done. Thanks.

It’s impressive to see your comprehensive approach to streamlining funding processes within the Optimism ecosystem. I’m particularly intrigued by your plans to integrate with other protocols and platforms. Could you elaborate on how you intend to ensure seamless interoperability and collaboration with these external entities?

Hi everyone.

We would like to withdraw from our Cycle 11 Builders Grant application as our protocol’s evolution over the year has become incompatible with some of the critical milestones.

We have applied for the current cycle instead, you can see our application in this link https://app.charmverse.io/op-grants/migrate-inverter-network-10310452077197252

We would like to thank the Grant Council for their guidance and coordination in this process.