Project name: Pass On
Author name and contact info (please provide a reliable point of contact for the project): Alastair Band - 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: 0x1da561742296Bf572404c920157257c38785d21d
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): Pass On is a gamified referral engine for Web3 that works for ANY on-chain protocol looking to increase their users through revenue sharing with verified on-chain data. Pass On offers a risk free, plug and play referral solution that is Sybil resistant as rewards are based on actual revenue generated for the protocol.
Other relevant links (including any demos): https://twitter.com/PassOndotio
Please link to any previous projects the team has meaningfully contributed to: www.bosonprotocol.io
Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): We’re aren’t live yet
Is/will this project be open sourced?: In the Future
Optimism native?: Yes
Date of deployment/expected deployment on Optimism: 3/31/2023
What is the problem statement this proposal hopes to solve for the Optimism ecosystem?: There are 2 major barriers to the growth of Web3, User Experience and User Acquisition. Pass On aims to solve the latter.
User growth so far in the web3 ecosystem has been focused on airdrops and giveaways, and while these work in the short term they are open to farming and individuals / groups who grind for the reward and then move on to the next project.
How does your proposal offer a value proposition solving the above problem?: We will offer a plug and play, web3 native referral marketing solution for all projects being built on Optimism. This will allow them to incentivise their current users to bring new users into the ecosystem, this is a win-win-win scenario for OP, projects built on OP and Pass On.
Rewards are paid out on transactions made and trigger events based on actual usage of protocols and projects within the OP ecosystem, creating a sybil resistant user acquisition and retention tool.
More users and retained users will boost the whole ecosystem.
Why will this solution be a source of growth for the Optimism ecosystem?: In theory, Pass On can trigger an exponential network effect of new user growth through incentivising early adopters to bring in new users. Each party refers 10 new people, and those refer 10 new people we can see huge user growth across the whole OP ecosystem.
Has your project previously applied for an OP grant?: N/A
Number of OP tokens requested: 20,000
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?: N/A
How much will your project match in co-incentives? (not required but recommended, when applicable): N/A
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.): Rewards 20% We will boost the Dust Fund lottery pool with OP tokens to greater incentivise users as we grow and make the prize pools more appealing.
Marketing 30% While we are primarily a B2B solution, we will use a portion of the funds for marketing purposes to reach as many projects as possible and integrate our solution with them, allowing them to start incentivising their users across the ecosystem.
Development 50% This is our primary concern right is to accelerate the development of our solution and get a significant market share as quickly as possible.
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: Rewards - within 4 weeks of product launch
Marketing - within 4 weeks of receiving the grants
Development - As soon as we find the right team members to join us (3-4 weeks from receiving the grant)
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: Deliver MVP on Optimism - 6-8 weeks
Integrate with 10 partners in the ecosystem - 12 weeks
Expand product offering and have an admin console for partners - 16 weeks
Integrate with 50 partners in the ecosystem - 36 weeks
Why will incentivized users and liquidity on Optimism remain after incentives dry up?: Incentives will increase as the number of users increases, these are calculated based on fees generated from using protocols (DEXs, marketplaces etc). Each referrer, and referred party, will earn a reward for every transaction with the opportunity to claim their reward or leave them on the protocol to enter the Dust Fund lottery and win a larger prize.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): N/A
Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions