Project name: OP Name Service
Author name and contact info (please provide a reliable point of contact for the project):
Polly - firstname.lastname@example.org
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: Yes
L2 recipient address: Will provide on acceptance
Which Voting Cycle are you applying for?: Cycle 10
Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Builders Grants
Project description (please explain how your project works): Building on Optimism, OP Name Service is a universal name service for all web3 interactions (crypto addresses, information, social media ++) via a single decentralized identifier.
OP Name Service is an open-source, decentralized and chain agnostic naming service, letting users register a .op or .optimism name on the Optimism Chain for use with any chain.
We replace a users complex address with a human-readable identifier for all their web3 interactions, as a .op or .optimism domain name owned by holding an NFT.
Users can use their .op or .optimism name as their web3 identity, linking their crypto wallets across any chain to a single identifier to send and receive crypto, link social accounts, and even use their name as a domain name for a website eg.(optimism.op or optimism.optimism)
Additionally, 30% of sales of .op and .optimism names will be used to buy and burn OP on the Optimism chain.
We are not only building for use on Optimism, but by any user, community or project that wants a cool .op or .optimism name as their web3 identity, or websites that want to use a .op or .optimism name as their website domain eg.(opname.op or opname.optimism)
Additionally, in the future we plan to enable anyone to register there own custom domain endpoint eg.(.chain, .anything and etc…) which can be used by a project or community to establish their own unique identifier and on-chain branding. Which projects would be able to set their own usage, monetize and decide how they distribute their custom domain to their community.
Website: In development
Other relevant links (including any demos):
Additional team member info (please link): We are a European team with 2-7 years experience in the space. The team has a background in development, user experience and marketing with 5-15+ years experience in our respective fields.
Please link to any previous projects the team has meaningfully contributed to: Our team has past experience working at GoDaddy, Microsoft and other web2 based companies. Additionally some members of our team have experience freelancing to web3 projects (Smart contracts, DApps, Dexs, NFTs and more)
Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Not applicable as currently in development and looking to launch around May 2023. We are aiming to achieve over 50,000 .op and .optimism domains registered within the first year.
Competitors, peers, or similar projects (please link): Competitors would be other naming services, however on the OP chain there would be no fully native competitors offering the same currently. We would be focusing on both OP and none OP users, communities and platforms for .OP and .OPTIMISM domain names for usage for payments, web3 ID, and also as a website domain all completely decentralized!
In the future we would be looking to develop further usage and utility, as well as form a DAO for governance and developments.
Is/will this project be open sourced?: Yes
Optimism native?: Yes
Date of deployment/expected deployment on Optimism: 5/20/2023
What is the problem statement this proposal hopes to solve for the Optimism ecosystem?: - Blockchain addresses are extremely hard to remember or verify;
- No native OP solution;
- Lack of a .op or .optimism domain to showcase OP alignment, as a web3 ID to connect communities and users;
- Ethereum native solutions are prohibitive/expensive to use;
- Other solutions provide limited chain support and utility;
- No custom domain support to enable individual communities to create their own unique domain eg(.anything);
How does your proposal offer a value proposition solving the above problem?: OP Name Service lets users create a web3 identity usable for all things web3! As a native Optimism naming service users will be able to create .op and .optimism domains, as well as in the future custom domain names for communities and platform users needs. All fully decentralized and on-chain provided on Optimism.
Users, communities and platforms will be able use their domain name as their web3 Identity, letting them easily use a human readable name to receive and send payments, link wallet addresses, link information and social accounts, and even be used as a domain or redirect domain for a website! Additionally, for any platform or community it will make it far easier for users to identify them, rather than using long hard to read and verify chain addresses.
As a .op and .optimism name service provider it will unite the Optimism community under a unique and memorable name. With also future custom domains held on optimism it will drive constant usage and value to the Optimism chain.
Why will this solution be a source of growth for the Optimism ecosystem?: As an Optimism Native naming service it will enable OP users, DApps, NFTs and communities to identify and support as part of the Optimism ecosystem. Additionally, it will provide continuous awareness to Optimism via the domains driving users to explore Optimism and Optimism ecosystem, while providing ongoing value as a native Optimism service that looks to expand to support custom domains in the future and bring a range of additional utility. As well as drive further usage of the Optimism network through minting and transferring OP native domains, and trading them on Optimism NFT platforms.
We are already in contact with some projects regarding support of .op and .optimism names on launch. We have received confirmation from a couple projects that will support on launch. Additionally, we will be looking to collaborate with the Optimism ecosystem and provide each platform with a certain amount of free .op or .optimism names to airdrop to their community and other events, while also reserving Optimism project names for top projects and projects that take part in events.
Has your project previously applied for an OP grant?: No
Number of OP tokens requested: 50000
Did the project apply for or receive OP tokens through the Foundation Partner Fund?: No
If OP tokens were requested from the Foundation Partner Fund, what was the amount?: None
How much will your project match in co-incentives? (not required but recommended, when applicable): We will be contributing 30% of each domain sale to buying and burning OP (eg. 10 million OP in sales would be 3 million OP burned)
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.): OP won’t be used for incentives, as we are applying for builder grant.
Over what period of time will the tokens be distributed for each initiative? Shorter timelines are preferable to longer timelines. Shorter timelines (on the order of weeks) allow teams to quickly demonstrate achievement of milestones, better facilitating additional grants via subsequent proposals: As a builder grant the OP will be locked for 1 year and released after that period. We would request 20% upfront to help with some expenses, although appreciate if that is not possible.
Please clearly define the milestones you expect to achieve in order to receive milestone based installments. Please consider how each milestone relates to incentivizing sustainable usage and liquidity on Optimism. Progress towards each milestone must be trackable: We would be launching our OP Name Service on Optimism to let anyone register a .op or .optimism domain name, and we will be partnering with Optimism projects and wallets for integration in their platforms.
Why will incentivized users and liquidity on Optimism remain after incentives dry up?: As a builder grant we would have no OP for incentives, although after launch we will look to apply to the growth experiment to help grow Optimism.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): Smart contracts are currently in development and will be shared on launch, as for organization wallet address this will be provided on acceptance.
Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions