Author name and contact info (please provide a reliable point of contact for the project.):
L2 recipient address:
Which Voting Cycle are you applying for?:
I confirm that I have read the landing pages for the Builders 6 and Growth Experiments 9 Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee:
I understand that Growth Experiments grants are subject to a “no sale rule,” as explained in this post 4, and I have read the terms of the rule:
What are you building?:
https://Bi.Social a Web3 Social Networking Services Platform. We are a social media network service that offers a comprehensive solution that is similar to Lens + ENS + Mirror + Twitter. Currently, we have 55k DID Users and over 150k Registered Users. There are many web3 social media platforms but we are best in class in terms of UI/UX usability. We believe we can bring value to Optimism’s network with our Users as well as our site’s features. Thank you for the opportunity to collaborate.
Why do you believe what you are building is going to succeed?:
- Our team expierence and dedication towards building the largest web3 SNS.
- We believe that Web3 Social Media that is open and easy to use is critical infrastructure to on-board the next billion users on to crypto.
How many users does your project have currently?
150k+ Registered Users on our platform
55k+ DID registered Users
How will receiving a grant enable you to further the mission of maximizing the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism:
We will use this grant to directly incentivize the on-boarding of users to Optimism by registering on Optimism our BI DID. It will be required to use Optimism to earn any OP incentive.
This DID will be multi-chain interoperable and open for any dapps and wallets to use and connect with. Currently our main content creation protocol uses Mirror.xyz which is a native to OP. Users who are comfortable posting content on a twitter like platform will find that our platform is simple and easy to use.
Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them.:
First we plan on targeting web3 native users who use social media regularly but are concerned with the security
How would these users interact with Optimism? For how long?:
Our platform is designed to be used regularly.
Our Feed service gives updated user posts from mirror.xyz and updated transactions for any accounts followed (“smart money accounts” or “NFT traders”). This creates a user expierence that is tailored to each individual and creates a reason to visit often.
Our Post service will allow for users to monetize their content via subscriptions / tips / collecting of pages using Mirror.xyz which is built on OP.
We will be continually adding more features to enhance user expierence.
Provide us with links to any of the following for the project:
Technical/Economic Documentation: Bit islands – Medium
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.): NA
Who are your competitors, and are they on Optimism?:
Any Web3 related Social Media Networks are our partners, not competitors.
Our competitors are: Twitter / Meta / Discourse / Discord / Telegram
Please link to code audits (if any):
Who are your founders?:
Senior strategy and big data expert at Nasdaq listed Top US Tech Firm
Founder of one of the biggest blockchain media and community.
CTO of a Nasdaq Listed Asian Logistics Company, lead a tech team of 400+ employees
Ex-Chairman of Top Asian Company’s algorithm Committee
Tech leader at Top Asian Company
Due to privacy concerns, additional data can be provided to the team.
What makes your team well-suited to carry out the project described in this proposal?
Based on the background provided for the founder and CTO, it is clear that the team has significant experience in the technology industry, including senior leadership roles at major companies, and a track record of successful technology development.
Specifically, the founder’s expertise in big data and blockchain technology, coupled with their experience leading a large and successful blockchain media and community, suggests that they have a deep understanding of the underlying technology and its potential applications.
Meanwhile, the CTO’s extensive experience leading large tech teams, including a 400+ employee team at a Nasdaq-listed logistics company, as well as their previous role as Chairman of a top Asian company’s algorithm committee, demonstrate their technical expertise and ability to oversee complex projects.
Is this your first Web3 project?:
Yes, although the founder was in Web3 Media previously.
If not, what else have you built? (Share links, Github repository, or any other useful information.):
What is the size of the grant request? (250k OP max):
How do you justify the size of the grant?:
We want to incentivize users to register a Decentralized ID by rebating an estimated amount of OP to cover registration and gas fees.
25k OP will allow over 100k users to register their personal DID for free.
Roadmap and Distribution Plan
Describe in discrete steps how you will successfully implement your grant plan:
How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc. See the no sale rule here 4):
- Integrate OP into Bi.Social’s components like Feed, Search and Post
- Deploy Bi DID’s contracts on OP
- Cross marketing promotion for free personal DID for all OP users
- On-board 100k OP Bi DID users to the platform.
Over what period of time will the tokens be distributed for each initiative?:
Developer time to complete steps 1 and 2 will require 2 months.
We believe it will take another 2 months to on-board 100k users with the OP incentives.
A total of 4 months.
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. Do not use distribution of the grant itself as a milestone:
Each step above could be a critical milestone.
If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?:
Initially the OP can be used to incentivize users to try out our platform, but ultimately it is up to us to keep them returning regularily. This is our goal and with the initial kickstart of the incentives we believe we can achieve regular users even after incentives dry up.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.):
Feel free to reach out if you have any other questions.
Does your project solve a problem for the Optimism ecosystem? If so how?:
Bi.Social wants to create the largest Web3 Social Media Service that will create consistent and regular use of the Optimism ecosystem.
Why will this solution be a source of growth for the Optimism ecosystem?:
Bi.Social is not a stand alone social media service, we integrate other parts of the web3 ecosystem into our platform like ENS / Lens / Mirror all in efforts to grow the entire ecosystem including but not exclusive to the Optimism ecosystem.
Is your project Optimism Native?:
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]: