I think it’s worth noting that the expected amount to be “extracted” to L1 is far less than the amount that Velodrome directly airdrops to veVELO lockers (~500,000 OP). These airdrops provide no direct value to the Optimism ecosystem and are essentially a subsidy to boost the price of VELO.
Indeed, the majority of OP funds requested by Velodrome directly benefit Velodrome development with no direct benefits to the Optimism ecosystem more broadly. For example, 600,000 OP are allocated to “protocols that integrate Velodrome’s liquidity layer” and another 600,000 are allocated to developing a “vote delegation and autocompounding feature that is directly built into Velodrome”.
By contrast, distributing OP tokens to LPs (as in this proposal) incentivizes liquidity on Optimism, a direct benefit to the ecosystem.
Given these details, it’s hard to avoid the conclusion that Velodrome is trying to push a double standard to “lock out” their perceived competitor.