[DRAFT][GF: Phase 1] Giottus

[GFXlabs]

Thank you for submitting this grant application! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period.

At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.

@GrantsOps

How do you justify the size of the grant?: 50% will be used to integrate the mainnet (dev cost and maintenance cost),

Just to confirm, these OP tokens are not to be sold by the grant recipient (Giottus). If you can confirm the tokens will not be sold to cover expenses, that would be helpful.

@GrantsOps

Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone:

1. General awareness about Optimism protocol among the Indian investor community.
2. Since we are the one and only exchange to have integrated Optimism in India, we can create good buzz using giveaways and trading competition.
3. Our marketing strategy will create incentives to transact Optimism tokens.
4. Also, we will nudge users to use the Optimism network for transactions.

We recommend more specificity, since these milestones will be how the community will judge your grant plan as a success or failure. A possible benchmark milestone could be “Promote awareness about Optimism among the Indian investor community by publishing 3 articles and 1 YouTube short no later than X. Links to the articles and short will be published on this thread by the same date.”

@GrantsOps

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:

1. Since it’s the first time we are going to do a mainnet integration other than Ethereum, it’s tough to estimate the critical milestone. But to be practical, we are aiming for more than 1000 deposits through OP mainnet in the initial phase of the plans.
2. Number of users buying OP tokens (as a way to gauge the reach) will be between 5,000-50,000.

While benchmark milestones are “soft” and are not tied directly to unlocking grant funds, critical milestones must be met to unlock funds not provided in the initial tranche of the grant. For your own benefit, we recommend they be clear and unambiguous. An example might be, “Giottus receives at least 1000 deposits through Optimism no later than X date. Giottus will provide the Grants Council with data to easily verify this.”

Further guidance on milestones can be found here: Milestone Assessment

Thank you, and GFX Labs or other Grants Council members will follow up here with any further questions throughout the process. Do not hesitate to ask questions here (tagging whichever Council Member a question is for, or @GrantsOps generally, will increase the speed of response).