I went ahead and changed it back to Draft and added the “not-passed” flair. We’ll give you news soon and update the original post with our advancements when ready.
I don’t think there is an issue with having a gambling platform on Optimism. Someone will build one, but it’s a question whether it is worth providing a 100k grant to a product that attracts a small user base.
Gambling is for a very small user base, and other gaming or NFT projects might be more attractive for a larger user base. Reducing the grant size heavily and amending token distribution might make this a bit more favorable.
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Thanks for the input!
For the 75k OP bankroll part, we originally viewed it as “match our current funds” type of deal since we are nearing 50 ETH. I totally think we can learn a lot from this past cycle for sure, including reducing the grant size and reworking the distribution.
Going back to the OP Bankroll question that we asked above, we have noticed QiDao offers an OP collateral vault: QiDao. This vault basically lets you deposit OP that you can draw MAI from if you stay above 150% collateral ratio.
Would the council agree for nice2win to lock the “bankroll section” of granted OP in this vault to draw MAI then swap it to ETH to add to our current existing ETH bankroll? Of course, we would do so with a very high Collateral to Debt Ratio % to avoid any risk of liquidation.
This seems like a neat idea to us because it would avoid us from selling the OP and would promote ecosystem usage between projects.
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Good question there has been some debate about allowing protocols to borrow against their $OP funding.
@lavande, @OPUser, or @jackanorak might have more insight on this one but I do not believe that practice is expressly prohibited at this point.
Personally, I don’t have an issue with it as long as it is stated in the proposal, backed by sound logic, and is done responsibly
That’s right, there’s currently no explicit guidance on whether to use OP as collateral. It’s a slippery slope, and from my perspective if anything it calls out the need to consider alternative forms of distribution to grantees.
Using OP for a bankroll is kind of tough because the idea is that it’s evergreen and grows, and it’s also initially capital inefficient as a grant due to the need for overcollateralization and liquidation risk.
Tell me this, actually - have you modeled out your expected bankroll growth given different use scenarios (imagine there’s a house edge or some rev generation)? There might be some very interesting possibilities here.
The best thing to do would ofc be to facilitate OP use for the app itself but idk what sort of dev lift that would entail.
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@Jrocki Thanks for the link!
Tell me this, actually - have you modeled out your expected bankroll growth given different use scenarios (imagine there’s a house edge or some rev generation)? There might be some very interesting possibilities here.
The house edge already being 1%, the current plan is to grow the bankroll aggressively, taking no profits, until the bankroll is solid enough to fulfill more type of bets. For example, in the current ETH pool, 100 ETH sounds achievable within the next year if we manage to take off. We don’t have any type of models yet but we are working on some Dune queries to give us some more insight on growth and analytics.
Using OP for a bankroll is kind of tough because the idea is that it’s evergreen and grow
Not only that, but you can’t pay gas with OP. For a simple user experience, ETH makes more sense as our primary crypto of choice to bet with because if you’re going to play 100 games per day, you’ll be charged on the same currency AND you’ll be managing your gas spending implicitly. On top of that, OP is likely to be more volatile than ETH in the next years which adds more risk to “simple” users swapping for a set crypto amount to play within let’s say a month, then recharge if needed.
The best thing to do would ofc be to facilitate OP use for the app itself but idk what sort of dev lift that would entail.
I’m not sure I understand the statement fully, however, if you’re talking about betting with OP strictly or any other crypto, it is definitely on the roadmap and is definitely achievable.
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Messed around with Dune Analytics today, go take a look 
Dune Analytics: https://dune.com/nice2win/nice2win-web3-casino
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