Project name: RabbitHole
Author name and contact info (please provide a reliable point of contact for the project.): Brian Flynn (@flynnjamm on Telegram)
L2 recipient address: 0xbD72a3Cd66B3e40E5151B153164905FD65b55145
Which Voting Cycle are you applying for?: 11
I confirm that I have read the landing pages for the Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee: [Yes/No]: Yes
I understand that Growth Experiments grants are subject to a “no sale rule,” and I have read the terms of the rule: [Yes/No]: Yes
What are you building?: RabbitHole is a token distribution platform that enables users to earn ERC20 tokens for completing on-chain tasks in various protocols. RabbitHole makes it easy for protocols to distribute tokens in quick, ad-hoc quests, all on-chain through its Quest Protocol.
Why do you believe what you are building is going to succeed?: We’ve already demonstrated success through Quests, and want to use the grant to supercharge efforts.
How many users does your project have currently? Please include how you arrived at this estimate: We’ve driven 22,000 unique wallets to do 36,000 t/xs on Optimism over the past two weeks, and have 197,000 unique wallets across all networks just in the two weeks since we’ve launched V2. This data is verifiable on-chain with a Dune query.
How will receiving a grant enable you to further the mission of maximizing the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism:
- RabbitHole will create daily on-chain tasks for the top protocols on Optimism, distributing tokens evenly across a fixed time period.
- The protocols that will be incentivized are as follows: PoolTogether, Superfluid, Velodrome, Sonne, and Mirror.
- RabbitHole will seek to find price equilibrium which will maximize the efficiency of token spendings to drive certain actions in each of these protocols.
Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them.:
- We plan on targeting users that are sensitive to gas fees and want to discover Optimism applications in a safe and easy way.
How would these users interact with Optimism? For how long?:
- Users will interact with Optimism on a daily basis over the course of seven weeks.
Provide us with links to any of the following for the project:
- Demo: rabbithole.gg
- Website: rabbithole.gg
- Twitter: @rabbithole_gg
- Discord/Discourse/Community: rabbitholegg
- Github: https://github.com/rabbitholegg/quest-protocol
- Technical/Economic Documentation:
Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): You can see Optimism metrics here: (https://dune.com/0xRob/rabbithole-v2/1935b513-4909-4183-bd9a-5cabe8303f64)
Who are your competitors, and are they on Optimism?:
Please link to code audits (if any): Audits can be found in Quest Protocol GitHub repo
Who are your founders?: Brian Flynn
What makes your team well-suited to carry out the project described in this proposal? RabbitHole has been running quests for two years and have helped major projects like ENS, Uniswap, Gnosis Safe, dydx, and others to grow their project through quests. We’ve helped projects distribute millions of tokens and drove hundreds of thousands of users. We’ve recently built RabbitHole V2 so protocols can quickly spin up quest opportunities in a matter of minutes.
Is this your first Web3 project?: No
If not, what else have you built? (Share links, Github repository, or any other useful information.): The team has worked at Dapper Labs, OpenSea, Coinbase, among other various crypto projects.
What is the size of the grant request? (250k OP max): 248,500
How do you justify the size of the grant?: We already are distributing OP tokens from our own treasury, and plan on catalyzing these efforts through an OP grant, which we plan on distributing over the course of seven weeks.
Roadmap and Distribution Plan
Describe in discrete steps how you will successfully implement your grant plan: See below
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. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc.:
|Week 1||Week 2||Week 3||Week 4||Week 5||Week 6||Week 7||SUM|
|Unique Users Per Week||40,000||44,000||48,400||53,240||59,096||65,006||70,862||380,605|
Total Distributed: 243,405 OP
The tokens will be distributed to quests across the following projects:
- PoolTogether (Deposit)
- Velodrome (Swap)
- Sonne (Lend)
- Mirror (Collect/Publish)
- Lyra (Swap)
- Agora (Delegate)
Over what period of time will the tokens be distributed for each initiative?: The tokens will be distributed over a period of 7 weeks.
Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone: We will scale the number of tokens being distributed via quests linearly to ensure that users are transacting on Optimism according to our estimates. Each week will be a new milestone for grant, to ensure a quick feedback loop with the community.
Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone: Each week refers to its own milestone. Please refer to the table above for the appropriate milestones. Data from the quest protocol can be verified on-chain directly.
If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?: We’ve found that users will come back if there is a daily reward to stay engaged with the protocol. We can condition repeat behavior through daily quests. We plan on doing this efficiently so the economics make sense for the Optimism Network long-term, and that substantial fees are being generated.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.):
You can track completion of Optimism Quests at our contract address here: 0x52629961f71c1c2564c5aa22372cb1b9fa9eba3e
Does your project solve a problem for the Optimism ecosystem? If so how?: RabbitHole is not only a platform for users to discover crypto applications, but it is also a tool for projects to experiment with incentives. We hope that projects in the Optimism ecosystem will use RabbitHole to A/B test token incentives and maximize efficiency of token spendings through small-scale, rapid experimentation of Quests. We hope to demonstrate the effectiveness of the tool by dogfooding it ourselves with a grant and show results to the community. Over time, we also plan on integrating Attestation Station as one potential way to filter users for quests.
Why will this solution be a source of growth for the Optimism ecosystem?: We’ve already demonstrated that RabbitHole V2 can drive tens of thousands of users to the Optimism Ecosystem in just two weeks, we expect to multiply those numbers through the grant.
Is your project Optimism Native?: Yes (Only deployed on Mainnet, Optimism, and Goerli)
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: [Yes/No]: Yes
I understand that I will be expected to following the public grant reporting requirements outlined in the Public Reporting Requirements for Grantees: [Yes/No]: Yes