Project name: Rigoblock
Author name and contact info (please provide a reliable point of contact for the project):
Gabriele Rigo gab@rigoblock.com Telegram: Contact @gabrielerigo
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: 0x080f08076e8EAdC66006C3CbFEd28a34918A1fA6
Which Voting Cycle are you applying for?: 10
Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Growth Experiment Grants
Project description (please explain how your project works): Rigoblock is a multichain protocol for asset management, a tool for simplifying interaction with DeFi applications and organizing pools of tokens and token holders.
Website: https://rigoblock.com
Twitter: @RigoBlock
Discord/Discourse/Community: RigoBlock
Other relevant links (including any demos): https://app.rigoblock.com
Additional team member info (please link): NA
Please link to any previous projects the team has meaningfully contributed to: 0x DAO: 0x DAO AMA on Discord recap
Ethfinex: Ethfinex and Rigoblock Launch Decentralized Asset Management Network within Trustless Trading Portal
Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): 40 V2 pools: RigoBlock
One of the top staking pools on the 0x staking system
More than $50MM volume generated by Rigoblock liquidity on 0x on Ethereum mainnet. We are not able to produce a link to the relevant volume, but data are onchain and can be provided and publicly verified on request.
Competitors, peers, or similar projects (please link): https://safe.global/
https://enzyme.finance/
Is/will this project be open sourced?: Yes
Optimism native?: No
Date of deployment/expected deployment on Optimism: 10/24/2022
What is the problem statement this proposal hopes to solve for the Optimism ecosystem?: Dapp safety and usability
How does your proposal offer a value proposition solving the above problem?: By abstracting the token approval from a user’s wallet and removing of unnecessary approvals, a user experiences better UX and less necessary transactions for executing an operation. Rigoblock pools are deployed automatically without the user having to code its own smart wallet, with same address on each chain, making it easier to manage pools of capital across chains. A simple interface facilitates interaction with the protocol.
Why will this solution be a source of growth for the Optimism ecosystem?: The solution allows for using the security of L1 Ethereum for storing big amounts of tokens, and the cost/speed efficiencies of Optimism for executing swaps / providing active liquidity. Rigoblock pools are therefore a funnel of liquidity to Optimism, on top of improving user experience as the smart pool automatically pack batch transactions without needing the user a dapp-specific knowledge.
Has your project previously applied for an OP grant?: No
Number of OP tokens requested: 25000
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?: NA
How much will your project match in co-incentives? (not required but recommended, when applicable): 1:1 match in form of GRG token
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 tokens will be distributed to Rigoblock pools based on their GRG staking rewards, augmenting the pools’ rewards. Allocated tokens will be split by epoch (each Rigoblock epoch is 2 weeks long) and distributed to the pools on top of their GRG staking reward.
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: 8 weeks. Each Rigoblock epoch is 2 weeks long. Therefore, 1/4th of the total amount will be distributed each week, exhausting the amount after 2 months.
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: NA
Why will incentivized users and liquidity on Optimism remain after incentives dry up?: Users will move from Ethereum L1 and will find the ideal environment for trading and providing liquidity on Optimism. On top of being a cheaper alternative for swapping tokens, Optimism still has not experienced the vast liquidity of Ethereum L1, meaning that returns on liquidity on i.e. Uniswap on many major pairs are still high. Rigoblock pools will keep receiving GRG staking rewards after the OP enhanced rewards program ends.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): ProofOfPerformance: Contract Address 0x9e895962AaceE64e42b8fFFa1efF0AcD7F0B6794 | Optimism
StakingProxy: Contract Address 0xb844bdcc64a748fdc8c9ee74fa4812e4bc28fd70 | Optimism
RigoblockPoolProxyFactory: Contract Address 0x8DE8895ddD702d9a216E640966A98e08c9228f24 | Optimism
AUniswap: Contract Address 0xc1ad7e8ea82f2f5129428a46eb968d08cd40cb92 | Optimism
Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions