[GF: Phase 1 Proposal] Rubicon

📜 Grant Proposals Grants Council
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Grants Council,

I’d like to make a friendly bump for visibility to my proposal (cc @Gonna.eth ) and request your comment. As stated, I think this is a win-win for Optimism and Rubicon and it affords us more time to effectively leverage allocated OP for growth.

Thank you for your comments @labelred @rubiconfun. There is an incentive for those earning in the contest today to push for a faster pace of rewards so they can earn more themselves. By extending the contest and slowing the rate of distribution we allow more users, including future ones, the opportunity to participate and earn OP.

Looking forward to the Council’s comment! Please let us know if we can provide any additional information or be helpful.

All the best,
Benjamin

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People will loose trust on Optimism and Rubicon if rules are changed in middle of the event after 17 days of events passed and few days remaining for competition .People will also loose trust on upcoming similar events organised by any other dapps .It would be nice if rules are not changed for October month and Rubicon has still have 30k OP allocated for last month which they can utilised and distribution 2500 OP reward every month in future.

Team need to decide whether Trust and commitment have more importance or it has no value .

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Update on Epoch Duration and Rate Adjustments for Maker Program Portion of Grant

Dear Optimism Community,

In the spirit of maintaining a transparent record and clarity in communication, we’re providing an update on the recent adjustments to the Rubicon project’s incentive epochs within the Optimism ecosystem, as discussed in this thread. This is a follow-up post to the discussion above that aims to provide clarity and closure.

Duration Extension: After thoughtful deliberation, we’ve extended the last two epochs to five months each, resulting in a revised operational timeline of 10 months. This extension includes the month of October, during which we implemented a modified rate — carefully crafted to uphold the previously advertised rates for the first half of the month and transitioning to the new terms in the latter half. This approach was chosen to avoid the retrospective rate shifts that previously caused concern within the community. After discussions with OP, it was determined that this is a discretionary shift that the Rubicon Team could elect to make and manage with our community, as we have.

Honoring Commitments: We have taken these steps to ensure that all previous commitments are honored, allowing us to distribute rewards in a manner that underpins the long-term success of both the Rubicon and Optimism ecosystems. This decision was made at our discretion, with the community’s prosperity at the forefront of our strategy.

Community Engagement and Transparency: We believe in open dialogue and have kept a detailed record of our discussions with the community, which can be found on the Rubicon Discord. Moreover, discussions with Optimism Grants stakeholders can be found in the Grants channel of the OP Discord. We are committed to remaining accessible and responsive to community feedback and are active in these areas.

Looking Forward: As we implement these updates, we extend our gratitude to the community for your adaptability and support. Your engagement is crucial as we continue to work together to build a free and open financial system for the world.

Thank you for your ongoing participation and support.

Best,
Benjamin on behalf of The Rubicon Team

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Request for Approval - Grant Milestones Successfully Surpassed

Dear Optimism Community and Governance Team,

We are pleased to announce that our grant program has far exceeded the required milestones and we are now formally requesting the release of the remaining 60k OP funding to continue our successful Maker Rewards program.

Milestone Achievement Summary: Our commitment was to generate at least $100k in ERC20 trading volume for each epoch. We have proudly surpassed this target:

  • Epoch 1: Over $5.5 million in ERC20 trading volume
  • Epoch 2: Over $15 million in ERC20 trading volume
  • Epoch 3: Over $16 million in ERC20 trading volume

This trading volume was accompanied by thousands of on-chain transactions, underscoring the dynamic participation within the Optimism network.

Impact and Recognition: Our program has been recognized in an Optimism incentives analysis as a top performer in promoting on-chain activity, showcasing our drive and positive influence within the ecosystem.

Transparency and Verification Sources:

Continuation of Program and Reward Distribution: We are eager to continue with the distribution of rewards, particularly for October, which awaits the approval of our milestone achievement. While we hadn’t initially realized the need for formal milestone approval, we understand this protocol now and acknowledge our role in the subsequent payout delay to our community. We hope this note serves to inform our users of the cause of delay and as an additional motivator for a swift approval from your end.

Funding Release Request: With the clear success and impact of our program, we respectfully ask for the Optimism team to greenlight the next tranche of 60k OP. This funding is essential for us to maintain the momentum and extend the benefits of our Maker Rewards program.

We are committed to enriching the Optimism ecosystem and look forward to the continued support that allows us to do so. Moreover, we greatly appreciate the benefit that Optimism Grants has given us to accelerate our mission of building an open financial system for the world.

For any further information or support needed from our end to expedite this process, we are on standby to assist. Please let us know how we can be helpful.

Thank you for your consideration and the opportunity to contribute to such a vibrant community.

Best regards,
Benjamin | rubicon.finance

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