Project Name: Rebel
Author Name: Michael Boyle
Number of OP tokens requested: 650,000
L2 Recipient Address: Will add to next draft
Relevant Usage Metrics: (TVL, transactions, volume, unique addresses, etc.)
Rebel is still pre-launch but we are beginning our rollout in the first half of July.
Here are some helpful links for context:
Optimism alignment (up to 200 word explanation):
Rebel is a web3-native platform for communities and creators—imagine combining Patreon with Tumblr and then decentralizing it with a governance model similar to Optimism’s. For many communities Rebel will replace Discord, for others it will extend it.
We are launching all of Rebel’s native tokens on Optimism and intend to make Optimism the default, recommended L2 for our new communities. Optimism are forging a path in community ownership and governance and we believe our token model, while different in some ways, is in spirit aligned with how Optimism have structured the bicameral houses.
Proposal for token distribution (under 1000 words):
How will the OP tokens be distributed?
Community Fund - 500,000
Our community fund mirrors Optimism’s Phase 1 governance fund in that our reputation token holders will vote on how to distribute tokens to productive, exemplary communities over twelve months. We want to incentivize referring new communities, creating and curating great content and NFTs, and helping to facilitate a joyful, productive ecosystem. We want our most exemplary community leaders to direct how both REBEL and OP tokens are distributed.
Rebel Treasury - 100,000
100,000 tokens will be earmarked for optimism-related development costs over the course of a year.
Marketing - 50,000
50,000 tokens will be spent on producing an Optimism + Rebel explainer video targeted toward creators and community managers with the goal of explaining why L2s, and Optimism specifically, fix the problems they’ve associated with crypto and NFTs in general.
I personally Executive Produced the Dope Wars ETH Denver documentary which has been DW’s most effective storytelling device to date—many members cite this film as what got them interested in Dope Wars. We want to work with Optimism’s marketing team to develop and tell an amazing story to creators about Optimism + Rebel and begin taking back the creator narrative for those outside of crypto.
Look at the results of this research Patreon did with their creators and note the least-desired feature, crypto, is the only way to enable the top-desired functionality. This is a narrative problem as much as a product problem. Together we can fix that.
How will this distribution incentivize usage and liquidity on Optimism?
Usage will be incentivized by giving creators and community managers an OP bonus on top of the REBEL they’re already receiving if they choose to deploy their projects on Optimism vs any other chain.
Liquidity will be enabled in a myriad of ways but, very specifically, our Withdraw function converts 25% of every dollar Rebel makes into OP tokens (we stable half and keep the remaining 25% as ETH).
Why will the incentivized users and liquidity remain after incentives dry up?
Communities and creators will stick around because Optimism fundamentally enables them to do things they simply cannot do anywhere else—low fees, fast transactions, etc will form the basis of long, long requested features like tipping and novel NFT use cases.
Over what period of time will the tokens be distributed?
Rebel’s recommendation to our governance community will to be to distribute this initial supply monthly, over the first twelve months, based on different weightings for aforementioned incentives. If we are successful with this first batch of OP and can demonstrate a return on Optimism’s investment in this approach, we will likely post subsequent proposals to expand this program.
How much will your project match in co-incentives?
The vast majority of the this proposal’s requested OP will be deposited in our Community Fund along with 51% of Rebel’s total token supply. Our draft, to be ratified by our reputation token holders, will suggest that the total Rebel supply be distributed over the course of 8 years and that this initial OP supply be distributed over the first twelve months.