We’re very excited to share that Velodrome has onboarded 5 new protocols from the start of the grant cycle on the 29th.
On week 1 we onboarded Threshold Network, and in August we onboarded another 4 projects: Gravita, Pendle, Across and Davos Protocol.
We have therefore achieved our critical milestone to onboard 5 new protocols ahead of schedule given we our timeline was to achieve this within 12 weeks of receiving grant funds and these funds were received several weeks after the start of the grant cycle.
We have another 5 protocols confirmed for onboarding in the next 1-2 weeks including VitaDAO, Astrava, Shapeshift, Ether.Fi and Vela Exchange.
All projects onboarded have either had community calls conducted e.g. Across and Davos or awaiting confirmed dates.
Lastly our very first community proposal was published just yesterday to onboard Connext Network as well as another 2 proposals awaiting submission for Collab.Land and Blockswap. We are continuing to see strong interest in members of the community to refer new projects and/or draft proposals and our remaining OP grant funds will continue to be used to reward these individuals.
Thanks for the update @alexcutlerdoteth! Please not that all Missions will be able to showcase their work tomorrow during a dedicated Mission demo day on September 28th, at 16:00 GMT on the Discord mainstage!
I wanted to report back on our progress here and propose a repurposing of some of these grant funds.
This was an experiment of if we could get individuals to go out and recruit new projects and with the exception of Connext, this ended up not working very well. Most of the projects we have been onboarding come directly to our team and from b2b outreach efforts rather than from individuals going into communities and recruiting them to come to Optimism. Good lesson for the future.
So as a result, most of our partner onboarding, of which we smashed all of our milestones (as seen in our new applications on charmverse) came from the team. We were able to extend our last growth grant for 20 weeks but given the governance timelines for this cycle, we would like to repurpose some OP from this grant to the incentive programs that have been working for partner onboarding. Our Tour de OP program has a proven track record of delivering the results this program was trying to achieve. Repurposing these funds would allow us to continue to fund the Tour de OP at 10k OP a week for another 6 weeks or so until the resolution of this grant cycle concludes.
Without these funds, we’d have to suspend the program until the outcome of the governance process which could endanger some of the projects we are working with relationships with Optimism. In the midst of large incentive programs on other chains, these are critical incentives to keep flowing. You can read more about the Tour de OP and see our results in our newest growth council application.
Thanks for this update. Could you give an update as to how the milestones are going? If all of the critical milestones are as good as normal, these use of grant funds will be a lot easier to sort out.
Hi there @PGov thanks for the fast response. Yes, we met the Critical Milestone for this project.
For partner onboarding, here is the update from our current grant applications that we shared and you can also see more info on the linked Dune Dashboard.
3. Onboard 5 new projects to the Optimism Ecosystem to utilize incentives on Velodrome/Show 300 new daily active users from the protocols we onboard.
Velodrome onboarded 20 new projects to the Optimism ecosystem during these two grant periods which have consistently brought 400-3K DAU’s to the ecosystem (see chart below).
Of the 20 projects onboarded, 13 have deployed contracts that have been mapped to Dune as of February 2024, so actual DAU metrics are likely to be significantly higher. The other projects include TokenDAO, Metapool, Etherean OS, Glo Dollar, Vita DAO, unshETH as well as a renewal of LIDO’s incentive programs.
Dan, it seems like you’re referencing this milestone correct? Could you respond in this forum please detailing all the milestones the team has completed (with proof). Apologies for the confusion but wasn’t sure what you were referencing at the start. The team will review shortly.
@PGov Sorry, I’m a little confused. Are we talking about the milestones for this grant or for our other growth grant that is the program we want to repurpose?
For that previous report, which was LST focused. You can see the different LST pools we incentivized here in addition to the chart above. The partner onboarding portion of this grant is displayed in what I pasted above.
