9 Polls Ending July 20
Proposal A: Superfluid
Summary: This proposal would disburse 150,000 OP to Superfluid, which provides tools to stream payments such as salaries. The funds would be used to incentivize some movement to Optimism as well as some grant funding around Superfluid on Optimism.
Recommendation: Vote Yes. The request is modest and Superfluid provides utility through a service. Given the size and nature of the request, this is easy to approve.
Proposal B: Kromatika
Summary: This proposal would disburse 300,000 OP to Kromatika, a DEX that provides the capability to place automated limit orders. The majority funds would be used for marketing, with a breakdown of categories provided in the proposal, with around 20% for user incentives, and 10% for an airdrop to past users.
Recommendation: Vote No. While it’s nice to see a DEX with more than vanilla utility, the heavy use of OP on influencers seems difficult to justify. It’s acceptable (and intended in many ways) for OP to be sold by grant recipients, but influencers’ impact is ephemeral and not a good use of Optimism funds.
Proposal C: Hundred Finance
Summary: This proposal would disburse 300,000 OP to Hundred Finance. The OP would be released over multiple tranches, each connected to a milestone of TVL.
Recommendation: Vote Yes. Given the modest size of the request, and the schedule linked to milestones, this seems reasonable. It would be best if Hundred Finance offered some novel utility that is lacking or scarce in the Optimism ecosystem, but bringing a Compound fork to Optimism is acceptable given the relatively small funding request.
Proposal D: Biconomy
Summary: This proposal would disburse 750,000 OP to Biconomy. 250,000 OP would be earmarked for liquidity mining, while 500,000 OP would be earmarked for migrating existing usage to Optimism.
Recommendation: Vote Yes. The request is fairly large, but a modest liquidity incentives program coupled with migration of existing usage seems accretive to the Optimism ecosystem.
Proposal E: Dope Wars
Summary: This proposal would disburse 1,000,000 OP to Dope Wars, a play-to-own metaverse project that is a Loot fork. 45% of the tokens would be sent to the Dope Wars treasury, with the remaining OP earmarked for various types of user incentives.
Recommendation: Vote No. It is inappropriate to request funds for general purposes. These grants are to increase utility and depth of the Optimism ecosystem, not to seed a treasury. We recommend the applicant reapply for a smaller amount, and without the treasury component.
Proposal F: Infinity Wallet
Summary: This proposal would disburse 500,000 OP to Infinity Wallet. Note that this proposal is substantively the same as one that just failed a vote in the previous cycle.
Recommendation: Vote No. This is basically the same proposal that failed last cycle. We don’t wish to encourage repeatedly pushing the same proposal each cycle until it passes. Until a cooldown period is required formally, we will simply vote against any proposal that was already defeated in the preceding cycle.
Proposal G: DexGuru
Summary: This proposal would disburse 300,000 OP to DexGuru, a data platform. 100% of the request is earmarked for grants around DexGuru’s ecosystem.
Recommendation: Vote No. There is not an obvious alignment between the suggested use of this grant and the Optimism ecosystem.
Proposal H: Overnight.fi
Summary: This proposal would disburse 250,000 OP to Overnight.fi. OP tokens would be used to incentivize LP pairs on Velodrome.
Recommendation: Vote No. This would not provide any unique utility to Optimism, and benefits accrue primarily to Overnight and Velodrom users. The applicant should consider a strategy to incentivize users to migrate to Optimism, or provide a novel service for the Optimism ecosystem.
Proposal I: Saddle Finance
Summary: This proposal would disburse 500,000 OP to Saddle Finance. Tokens are earmarked as liquidity incentives for various stablecoin and ETH pools.
Recommendation: Vote No. This grant would not fund any unique utility for users of Optimism, nor is it directed at migrating new users to Optimism.
NB: GFX continues to have difficulty voting on Snapshot. Finding an alternative platform for Optimism governance seems urgent.