[FINAL] Velodrome: Spread Awareness Through Direct Outreach and Onboarding

S4 Intent: Spread Awareness of the Optimistic Vision (Intent 3)

Proposed Mission: Spread awareness of the Optimistic Vision among protocols and their communities not yet deployed on Optimism (and onboard them to Optimism!)

[Proposal Tier](Collective Trust Tiers - #2 38): Phoenix

Please verify that you meet the qualifications for your Tier: Velodrome Finance is a Partner Fund grant recipient

Baseline grant amount: 100,000 OP

% of total available Intent budget: 10%

Alliance: Velodrome Finance team

Alliance Lead: Alexander

Contact info: Telegram - @wagmiAlexander; Discord - alexander.#4210

L2 recipient address: 0xb074ec6c37659525eef2fb44478077901f878012

Please list the members of your Alliance and link to any previous work:

  • Alexander: Background in politics, technology, and consulting, including time working for the Obama campaign, Apple Inc, and consulting with numerous Fortune 500s.
  • Tao: Background in economics and finance; experience as strategy lead for a large asset manager in Switzerland and at Big Three consulting firm.
  • Jack: Optimism delegate and growth council member
  • Stas: Open Source contributor to Ubuntu, Mozilla, WordPress. Tech lead and maintainer of multiple open source projects on Github. Prior to Velodrome I led the architecture and integrated able.com with multiple banking/fintech services and wrote their initial US tax calculator.
  • ZoomerAnon: Software developer working in crypto on dapps, analytics, and open source tools since 2019. Maintaining free wallet tracking software and publicizing information about smart contract exploits.
  • GuyWithKeyboard: Long background in both traditional finance and decentralized finance, former financial advisor and large asset manager whoMast built a $1.2b practice.
  • Nick: Military aviation background, now investor with Spaceship and Onchain Angels, erstwhile developer and growth strategist.
  • Methodic: Enterprise tech sales background; experience across the full sales cycle, sales development team management and recruitment.
  • Dan: Data strategist with experience in the U.S. education sector at public, non-profit and private organizations. Educational background in economics and public policy.

Previous projects:

Open source projects we contributed to (PRs):

  • multicall.py (OP support, performance optimizations)
  • Dune Spellbook (pricing data)
  • Rainbowkit (Gnosis Safe connector)
  • Rabby Wallet (hardware wallet support)
  • smatcontracts/Simple Optimism Node
  • alchemy-web3.js (RPC retries support)

Our own open source projects:

  • API written from scratch (backwards compatible with Solidly forks)
  • Discord bots for trades, bribes and deposits
  • Sugar project (easiest way to build on top of Velodrome)
  • Protocol documentation

Our repository changes from Solidly:

  • Solidly dApp fork: ~497 commits, 120 files changed, 4768 insertions(+), 6690 deletions(-)
  • Solidly contracts fork: ~414 commits, 45 files changed, 3660 insertions(+), 1483 deletions(-)

Please explain how this Mission will help accomplish the above Intent:

  • As Optimism’s largest and most prominent native protocol, Velodrome has a demonstrated track record of successfully spreading the Optimistic Vision across a variety of channels:
    • We currently have 233.9k followers on Twitter and produce content on a daily basis focused on highlighting Optimism, its vision, and its broader ecosystem
    • We are frequently tapped to represent the vision on Twitter spaces, podcasts, and panels with partners and crypto outlets like Bankless (average 1-2 per week)
    • We host blogs with technical (Velodrome Development Journal) and strategic (Velodrome (🚴,🚴) – Medium) thought pieces aimed to educate users, emerging builders, and established protocols to Optimism
    • Our business development efforts are entirely focused on direct outreach to protocols and builders across DeFi, sharing the broader vision with the goal of onboarding valuable protocols to the ecosystem, attracting value-aligned users and builders.
  • What we have found in this work is that the best ways to drive awareness of the Optimistic Vision and the opportunity it represents for builders (and their users) is to drive actual trial and usage of network and ecosystem: deploying their token, building liquidity on it, engaging with other ecosystem projects, getting engaged in governance, etc. It makes the Optimistic Vision tangible and gets projects (and their users) invested in it. Protocols have a choice of where to deploy and Velodrome and matching our efforts with targeted incentive programs provide the most compelling case for a focused investment in the Optimistic vision.
  • That is why we believe that to grow awareness and engagement with the Optimistic Vision, we need to employ every avenue at our disposal to get access to those builders that could be of interest to Optimism. And in our experience, no amount of words or guides alone can compare with direct, in-person engagement. This grant would support Velodrome’s own considerable efforts to grow the ecosystem and provide the tools to continue to attract the best and brightest in Web3 and get them invested in the Optimistic Vision.
  • We propose 100,000 OP to be used as bounties to incentivize individuals in the Optimism community to surface and introduce new protocols to Velodrome to onboard to the Optimism Collective. We would target bounties of roughly 2k per referral. Bounties would not go to people currently employed by Optimism Labs, the Optimism Foundation, or any affiliates, nor would they go to currently titled and compensated people on the Grants Council.
  • We will pair these incentives with our ongoing efforts to promote the Optimistic Vision and ecosystem through our official comms channels (Twitter, Discord, etc), our business development activities (50+ protocols onboarded to date), and our partnership support that helps projects get engaged in governance and connect with other ecosystem builders.
  • This grant request is about equipping those already doing the work of spreading the Optimistic Vision with the demonstrated effective tools they need to be successful.

What makes your Alliance well-suited to execute this Mission?

  • Our Alliance’s combined experiences make us well prepared to execute on this Mission
    • Velodrome is the single largest protocol on Optimism and the largest DEX on Layer 2 Ethereum, it is the most prominent public advocate for the Optimistic Vision across the DeFi landscape
    • Velodrome has a proven record of persuading builders and users to embrace the Optimistic vision, attracting, onboarding, and retaining protocols / builders / and their communities to Optimism (50+ and counting)
    • Velodrome has a demonstrated track record of running successful grant programs and delivering results, holding ourselves accountable to the metrics we lay out

Please list a critical milestone. The critical milestone should be a measure of whether you’ve made best efforts to execute what is outlined in this proposal or not. If you fail to achieve your critical milestone, your grant may be clawed back.

  • Onboard 5 new protocols to Optimism within 12 weeks of the receipt of grant funds.
  • Kept records of distributions and reasons for such distributions.

How should Token House delegates measure progress towards this Mission: These should focus on progress towards completion. Including expected completion dates for each is recommended.

  • Onboard 1 new, unreached protocol by week 4, 2 protocols by week 6 and 5 protocols by week 12 of 5 new projects to Optimism (or 10% of existing opportunities in biz dev pipeline)
  • Recorded Twitter space or community call with each newly onboarded protocol to spread the Optimistic Vision across their community of users

How should badgeholders measure impact upon completion of this Mission? These should be focused on performance and may be used by badgeholders to assess your Misson’s impact in the next round of RetroPGF.

  • Any performance beyond the above specified metrics
  • Positive feedback or testimonials from onboarded protocols
  • Records of additional composability with Velodrome or enhanced protocol activity

Breakdown of Mission budget request:

  • We propose 100,000 OP to be used as bounties to incentivize individuals in the Optimism community to surface and introduce new protocols to Velodrome to onboard to the Optimism Collective.
    • We would target bounties of roughly 2k per referral, but bounties could scale based on the quality on onboarded protocols participation in Optimism
    • Bounties would not go to people currently employed by Optimism Labs, the Optimism Foundation, or any affiliates, nor would they go to currently titled and compensated people on the Grants Council

I confirm that my grant will be subject to clawback for failure to execute on critical milestones: Yes

I confirm that I have read and understand the grant policies: Yes

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

8 Likes

Great proposal! I am an Optimism delegate with sufficient voting power and I believe this proposal is ready to move to a vote.

4 Likes

Good to see experimentation with direct onboarding incentives. While it’s a fair chunk of this Intent’s allocation, Velodrome has a large enough audience, so I’m happy to support this.

I am an Optimism delegate with sufficient voting power , and I believe this proposal is ready to move to a vote.

4 Likes

Love this approach!

Couple of questions

Given veledromes is the largest protocol on Optimism can you clarify please the term ‘affiliates’ as it could have either a very broad or narrow application. Where does the proposal intend to draw the line in terms of affiliation?

Does new protocols include existing opportunities in biz dev pipeline? How best to prevent overlap with existing opportunities?. Is the intention to return any unallocated incentives or to retain provided the critical milestones are achieved?

Hi @alexcutlerdoteth! Wanted to make sure you were aware of the Optimism Season 4 Pitching Sessions to help find the 4 delegate approvals you’ll need by this Wednesday at 19:00 GMT for your proposal to move to a vote.

These sessions are happening in Discord on Monday, 26.06 2pm ET / 6pm GMT / 8pm CET and Tuesday, 27.06 11am ET / 3pm GMT / 5pm CET.

You can sign-up here!

I am one of the Synthetix Ambassadors, and a Optimism Badgeholder. I am an Optimism delegate [Delegate Commitments - #65 by mastermojo ] with sufficient voting power, and I believe this proposal is ready to move to a vote

1 Like

Liquidity is crucial to building a strong ecosystem. This proposal makes a lot of sense!

1 Like

Hey @alexcutlerdoteth I would like to see the same questions that @lee0007 asked here: [DRAFT] Velodrome: Spread Awareness Through Direct Outreach and Onboarding - #4 by lee0007 answered

That said I guess going to vote is good enough for this proposal as it’s to be used as bounties to get new protocols to optimism and velodrome.

So with that said, I am an Optimism delegate with sufficient voting power and I believe this proposal is ready to move to a vote.

As an Optimism delegate with voting power above the required threshold I believe this proposal is ready for vote. Delegate Commitments - #71 by MoneyManDoug

1 Like

Apologies for the delay. A bit overwhelmed at the moment with the V2 launch and migration. Will follow up here soon.

I am one of the Synthetix Ambassadors, and a Optimism Badgeholder. I am an Optimism delegate [Delegate Commitments - #65 by mastermojo ] with sufficient voting power, and I believe this proposal is ready to move to a vote.

1 Like

Sorry for the delay here.

I don’t we intend to draw the affiliation line harshly, as in members of governance or ecosystem protocols could certainly qualify. We just know from a legal standpoint, it is important these funds don’t end up back in the hands of employees of the foundation or labs in one form or another.

Yes, these metrics could include protocols in the existing pipeline if they become successfully onboarded, though they would likely not qualify for the actual reward. This grant is really about juicing the already highly successful ecosystem biz dev efforts and building an even larger pipeline to sustain the ecosystem for months to come.

1 Like

I know Velodrome has pulled many projects into optimism and helped some get liquidity and remain optimism native.

I would love to see those KPIs here to understand how valuable and impactful was this until now without bounties.

I would also like a bit more detail on how the bounties will be structured, and who’s in charge of saying pass or fail on a bounty.

This caught my attention, I’ll try an affiliate definition:

  • Op team
  • Op foundation
  • any member elected by token or citizen house
  • mission recipients, grant recipients, RPGF recipients

Is this correct? I’m trying to make the affiliate’s line as clear as possible to avoid future problems. Who’s going to track this?

Can you clarify the source of truth of all these milestones you are setting? will it be a forum post or a Twitter thread or both?

1 Like

I’m voting yes on this proposal. I’m supportive of working towards onboarding new protocols to Optimism.

I am voting yes on this proposal as mentioned above to get new protocols to optimism.

Thanks for clarifying.

Full support for this approach to

  • rewarding business devs
  • performance based incentives
  • intent 3 and ecosystem growth

Look forward to hearing about the growth results in due course.

1 Like

I voted in favour of this proposal, Velodrome has been a key entity on the development and history of Optimism. I am supportive of testing direct bounties for referral onboarding, hoping to see positive results.

From what I understand this proposal is about referring new protocols. I have questions… Are these protocols must be well-known or prototyping stage is OK? How can I submit or get in contact with your team?

Hi @alexcutlerdoteth!
As Season 4 draws to a close this week, we’re so excited to see how you’ve executed on your Mission! Please post an update for the community here outlining the milestones you’ve met this Thursday (9/20) by 19:00 GMT. Please include links to any final work products as we’ll create a final roundup linking to all Mission deliverables.

We also encourage you to sign-up for RetroPGF Round 3. You’ll be able to describe the impact of your Mission when you sign-up: RetroPGF Round 3 Applications Are Open

Thanks again for being part of this experiment and helping us build the Collective :heart: