Project name: Paçoca
Author name and contact info: Deejay: General Manager | @deejay
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes.
L2 recipient address: 0x0552e3a7BFAe95F1aE7Ceb1BEd4d7d5Eec38AE2A
Grant category: Tooling
Is this proposal applicable to a specific committee? Yes, Tooling Committee ([DRAFT] S02 Committee Proposal: Tooling Governance Committee)
Paçoca is a DeFi one-stop service. We provide a multi-chain portfolio manager to track users’ assets staked in different DeFi projects in EVM-based blockchains such as Ethereum, BNB Chain, Fantom, Polygon, Avalanche, and Optimism.
Our portfolio manager provides a broad and centralized view of DeFi assets across all chains. Users can track their vaults staking, LP details, borrowing- lending status, odd to win a lottery, NFT, tokens, and asset allocation within a single page.
Aside from a portfolio manager, Paçoca has an automated yield optimizer on the BNB chain and a multi-chain DEX, where users can trade with these best deals and rates across all markets.
Additional team member info:
Salt: BD and Marketing Director | Telegram: Contact @PacocaSalt
Relevant usage metrics:
Unique Addresses: 11,191
Integrations so far: 147 platforms across 6 blockchains
Is/will this project be open-sourced? The project is partially open source.
Optimism native?: No
Date of deployment/expected deployment on Optimism: We have already begun platform integrations.
Ecosystem Value Proposition:
Optimism has grown in the DeFi and NFT space, mainly thanks to its last phases of funding. With over 60 DeFi protocols and nearly $1bn in TVL, It lacks the choices in tooling options.
That’s where Paçoca comes in. We’re a free portfolio tracker that fosters partnerships with projects to optimize integration for their users. This BD-focused variation results in us working with all-scale projects. Whereas most portfolio trackers offer nothing to smaller projects, purely focusing on what’s the most popular and often not having the capacity or focus on Partnerships for more meaningful integrations. Paçoca boasts a strong Business Development team allowing for over 140+ partnerships so far.
For Moonpot, a DeFi no-loss lottery that provides APY, Paçoca shows your earnings waiting to collect and your odds of winning each lottery.
For Venus Protocol, Paçoca shows your portfolio and position so that you can check your liquidation status, borrow balance, and supply balance summarized on our dashboard.
We enrich the space. Having Paçoca on your chain is a positive synergistic element. We start by giving DeFi projects a quality partnership they can explore, resulting in more refined marketing opportunities and a helpful tool their community can use and dig.
Working together, Paçoca creates a foundation for deeper collaborations such as collaborating to build new tools such as with Apeswap to build their Apestats page (ApeSwap Partners with Paçoca to Launch New ApeStats Page | by ApeSwap.finance | Aug, 2022 | Medium) or providing introductions to other projects. With this approach, Paçoca is an aggregator of all DeFi projects on your chain and builds a network. This network acts as leverage to intro projects we’ve worked on in the past, facilitating partnerships that prolong the longevity of projects in the Optimism space.
Initially, a partnership starts by integrating the DeFi protocol into our Portfolio Tracking. Through our app, the project’s DeFi users can easily invest in multiple protocols without the hassle of having to go to each staking. On our website, you can review a holistic view of his portfolio, tracking even staked assets, staked NFTs, and many custom products such as Treasury Bills and others. This custom and personal attention to detail allow unparalleled tracking with built-in tools at 0 of the developer costs.
Paçoca will also be the source of growth for Optimism through its approach with the proposed Optimism grant. Instead of distributing free tokens as an incentive for staking, which often sees a lack in throughput of conversions to long-term and loyal users, Paçoca suggests an alternate solution. We plan on selling Optimism coins for PACOCA-BNB LP, meaning the tokens given to us will be bought by users, not given away for free, introducing more BNB users to Optimism through Paçoca. The Optimism coins will be offered at a discount but vested over time, providing a real opportunity for users to commit funds to explore the optimism chain. With this introduction, we will also primarily focus on Optimism integrations. Using the foundational partnerships proposed, our socials will be full of DeFi protocols on the newly-tracked Optimism chain. These integrations are paired with AMAs in our community, exposure on socials such as our Twitter, and teasers. With the introductions of other platforms, we can convert BNB chain users to Optimism more successfully.
Incentivizing them to buy Optimism coins at a discount rate
Exposing them to many DeFi protocols on the Optimism chain, providing them with a list of potential opportunities to invest in
Inviting Projects to come to our community and speak about their protocol, providing them with a stage for OP-rich users looking to invest their new Optimism coins.
Number of OP tokens requested: 150,000
How much will your project match in co-incentives? Not Applicable as our coin is on the BNB chain, and we will give rewards on the Optimism chain.
Proposal for token distribution:
- 30% (45k) will go to subsidizing integrations into our Portfolio tracker for projects, covering developer and BD efforts that go into these partnerships that the project partner usually burdens. Instead, the grant will subsidize the development costs and allow them to happen faster and on a bigger scale.
- 70% (105k) will be sold as treasury bills to BNB users. Treasury bills are purchased by swapping LP tokens on the BNB chain to receive discounted vested OP. These will unlock over time. Purchasers of these tokens are a more loyal audience to Optimism.
Over what period of time will the tokens be distributed for each initiative?
- 30% will be distributed over 8 weeks
- 70% will be distributed over 6 months
Please list the milestones/KPIs you expect to achieve for each initiative, considering how each relates to incentivizing sustainable usage and liquidity on Optimism.
Paçoca’s first KPI will be based on its integrations. We plan on integrating the top 30 DeFi protocols on Optimism and continue beyond the proposal to include as many as possible, including maintaining the database as these protocols evolve and staying up to date with the latest projects launching. We will then provide co-marketing for each integration and exposure to our community.
Paçoca’s second KPI is based on treasury bills sold. We plan on selling all 70% of Optimism coins to BNB users, easily to be tracked by how many treasury bills have been minted. By selling OP at a discount over a vested period, we’re offering an attractive offer to our existing LP stakers. They have an opportunity to earn more than their current APY by trading in their LP for these tokens. By buying them from Paçoca, they retain their perceived value; whereas incentivizing a vault would typically provide free tokens, the discounted tokens are included in the vesting period. It is assumed that users purchasing OP tokens this way are more likely to explore opportunities on the OP chain.
Why will incentivized users and liquidity on Optimism remain after incentives dry up?
Paçoca is effectively targeting users from two angles:
The first is the attractive offer of trading in LP tokens that they’ve been staking on our protocol for a chance to earn faster. We’ll sell OP tokens in a product called Treasury bills. These treasury bills will provide its holders with OP tokens over a vesting period. Purchasers of these represent an audience of primarily veteran DeFi users that explore liquidity providing rather than single asset staking. Additionally, by vesting OP tokens, purchasers spend a longer time on the Optimism chain. This is where we take advantage and lean on our educational mechanics to convert them.
These educational mechanics are our second vector for conversion. Part of the proposed tokens is subsidizing integrations into our portfolio tracking, done by partnering with projects. These integrations are followed by teasers, social media takeovers, giveaways, and AMAs, introducing a laundry list of DeFi Optimism projects that users can explore with their vested OP tokens as they become unlocked. Projects will be invited to speak about their opportunities to this highly segmented user base through AMAs and introduced to them through our social media.
Even after incentives finish, Paçoca will continue integrating more projects and maintaining the previous integrations, meaning that we’re here to stay with Optimism. As for treasury bills, this is an endeavor we can continue providing, given that the Optimism team is keen to continue.