Project name: rotki
Author name and contact info (please provide a reliable point of contact for the project): lefteris@rotki.com, @lefterisjp in Twitter and TG
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: 0x9531C059098e3d194fF87FebB587aB07B30B1306
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): rotki is an opensource portfolio tracking and accounting tool that thanks to in large part an optimism grant supports Optimism chain completely. Among other things it detects all optimims token balances for all user addresses, pulls all transactions and decodes them into human readable format and then can create an accounting report with PnL for all addresses in a given time period. What’s more all this is done in a local application without storing your data in external server where they can be hacked/leaked or sold to the highest bidder.
Website: https://rotki.com/
Twitter: https://twitter.com/rotkiapp
Discord/Discourse/Community: Rotki
Other relevant links (including any demos): GitHub - rotki/rotki: A portfolio tracking, analytics, accounting and tax reporting application that protects your privacy
Additional team member info (please link): Contributors to rotki/rotki · GitHub
Please link to any previous projects the team has meaningfully contributed to: rotk is a long-running project since 2017 and the team has contributed to it for a long time. Other thant that, the founder (me - Lefteris) has also contributed in multiple ethereum projects since 2014.
Among them are: the C++ Ethereum client, solidity compiler, the DAO, raiden network etc.
Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): This is not a dapp, so there is no on-chain metrics
Competitors, peers, or similar projects (please link): There is no other opensource and local solution that does what rotki does. There is a ton of SaaS/webapps that do some parts of what we do. Zerion/zapper/debank etc. for portfolio tracking, cointracking, koinly etc. for the accounting part.
Is/will this project be open sourced?: Yes
Optimism native?: No
Date of deployment/expected deployment on Optimism: (Not really deployment but including in production): 2/3/2023
What is the problem statement this proposal hopes to solve for the Optimism ecosystem?: This proposal is for having opensource EVM transaction decoders for various Optimism protocols. Just like with ethereum, there is no opensource library/app/code that can take a bunch of transactions and decode them nicely into human readable format.
With such code available (and rotki is a good example for it) can feed it transactions and have them decoded into a common event format, suitable for human consumption.
So others too can see transactions as nicely as etherscan shows them, or even better depending on the decoded protocol.
How does your proposal offer a value proposition solving the above problem?: We propose to work on those decoders for various protocols (the biggest ones used in Optimism) and have them available in rotki for end-user consumption and also in our codebase in a modular way (that’s already there) so other devs can just use our code in their apps.
Why will this solution be a source of growth for the Optimism ecosystem?: We believe that having opensource code that solves the problem of decoding optimism transactions would help grow the Optimism ecosystem as developer would not need to reinvent the wheel.
Say you want to create a python app/webapp that processes Velodrome, or 1inch optimism transactions. You would need to create code to do that. But not if we implement the decoders.
If we do they can just go to rotki’s codebase and use them. Btw … important to note that we already have some decoders for optimism: rotki/rotkehlchen/chain/optimism/modules at develop · rotki/rotki · GitHub and a lot more for ethereum: rotki/rotkehlchen/chain/ethereum/modules at develop · rotki/rotki · GitHub
Has your project previously applied for an OP grant?: Yes. And it’s been completed: [READY] [GF: Phase 1] rotki - #57 by lefterisjp
In fact this application is building on top of that old grant.
Number of OP tokens requested: 40,000
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 – we do not have a 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.): 100% allocated to development
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 far as I understand since this is a builder grant there will be a lockup. Once lockup is done, we will use it to pay our developer salaries.
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: This is a continuous development grant. I would consider each milestone to be a full decoder module implemented, and code being in github.
We would ofcourse continue to support them, debug them, fix bugs and improve them as protocols change.
If I understand correctly since there is a lockup milestones do not really make sense here, but open to discussion with the commitee on what they think is best.
Why will incentivized users and liquidity on Optimism remain after incentives dry up?: there is no incentives. This is just to develop opensource code.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): The only accountability I can imagine in such a grant is the link to our github to see the work being done: GitHub - rotki/rotki: A portfolio tracking, analytics, accounting and tax reporting application that protects your privacy
Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions
EDIT: I have added some extra information regarding the proposal in the next post.
