Governance Weekly Recap

Week of September 19, 2022

Summary

Well here we are in the final, voting week of Cycle #6. There was a flurry of activity (and some confusion) as teams got their proposals ready to be included in the Roundup and the newly formed Governance Committees got to work. Some proposals didn’t make it in time for this Cycle, but you can still take a look at what’s being put forward for the next Cycle.

Proposals

Summaries of the dHedge and Otterspace proposals were in included in last week’s recap (see above); here are summaries of the remaining eight:

Across Protocol claims to be “the fastest, cheapest and most secure bridge between L1 and L2s.” With this proposal Across asks for 750k OP, 75% of which will be used to “subsidize bridge fees for users that would like to transfer assets to Optimism.” The remaining portion will be allocated as a reward to anyone who operates a relayer on Optimism. Across will also provide up to 320% ACX as a co-incentive for those bridging to Optimism. Across believes that the proposed incentive programs could create from $500m to $1b of volume on Optimism.

Bankless Academy describes itself as a “free-to-access, open-source, education hyper-structure seeking to empower internet society with the information and tools necessary to achieve financial self-sovereignty.” The Academy does this by creating lessons or “quests” that guide the user through the experience of using progressively more complex web3/crypto tools and platforms. This proposal asks for 33,000 $OP, 60% of which will be distributed to contributors building the lessons for onboarding Academy users to Layer 2s (including Optimism); the remainder will go to the community treasury to support future development of the Academy.

Interest Protocol, from GFX Labs, ****is as a “fractional reserve, overcollateralized borrowing protocol.” Deployment to Optimism is predicted in the “immediate future” should the grant be approved. Importantly, “Interest Protocol is designed to allow tokens held as collateral to still be able to participate in governance via delegation controlled by the user,” meaning OP holders could use the protocol without losing their ability to participate in Optimism governance. The proposal requests 31,764 OP to provide 50% of estimated developer costs to deploy the protocol on Optimism. Interest Protocol would then be able to accept OP as collateral, creating a “demand sink” for the token without sacrificing the token holder’s ability participate in governance.

The Kromatika dApp was first active on Optimism in December of 2021 and is one of the few (if not the only) DEX protocols with automated limit orders and a swap aggregator on Optimism. As the proposal states, “DEX trading is complicated, expensive and is limited in terms of convenience when compared to CEX trading. Kromatika hopes to solve this problem for the Optimism Ecosystem.” Kromatika’s goal is to make “DEX trading simple, accessible, and affordable on Ethereum L1 and L2’s.” The proposal asks for 300k OP.

OptiChads is focused on “improving Health & Wellness in Web3 through our art. We have a very active and passionate community of Chads focused on self improvement in and out of the gym.” The proposal asks for 50k OP, 100% of which will be used to incentivize health and wellness behaviors through the use of Web3 quests. As a co-incentive, 50 OptiChad NFTs will be given to the addresses with the highest completion rate.

The Revert Compoundor, created by Revert Labs, automates the compounding of fees for liquidity providers on Uniswap V3 — a function that can substantially improve returns for the user. The proposal asks for 240k OP to incentivize users to bring liquidity to Uniswap on Optimism (estimated to increase by ~20m USD) via the Compoundor. 100% of OP incentives will go to Compoundor liquidity providers over the course of three months.

Socket is an interoperability protocol for secure & efficient data and asset transfers across chains.” The project aims to create “seamless user onboarding,” which is, as the proposal describes in detail, often complicated, onerous, and expensive. One million OP are requested, 60% of which would be used to subsidize 90% of fees for every user that onboards to Optimism via Socket. The remaining 40% is allocated to builders that integrate Socket into their UX or their dApps.

Tarot is a decentralized lending and leveraged yield farming protocol that has been on Optimism since May of 2022. This proposal, which was initially introduced in mid July, requests 600k OP, 90% of which will be “allocated to liquidity bribes and incentivization mechanisms on Velodrome, Beethoven X, and/or other major DEXs on Optimism to incentivize TAROT-based liquidity.” The remaining 10% is allocated to the Tarot team, which will pair the OP with TAROT to provide initial liquidity on Optimism for a minimum of 12 months.

:speaking_head: Check out the Governance Committee Recommendations concerning the above proposals:

:speaking_head: Vote now! — voting is live only until September 28, 7PM GMT. That’s Wednesday.

In the Forums

Shadow Governance Committee: DeFi Committee B, which is not an official Governance Committee, has posted its recommendations, which are “just suggestions that we hope are coming from a helpful, informed perspective.” This has been, unsurprisingly, controversial.

Delegate communication. @polynya has updated their thread, outlining their approach to the new season.

Another delegate commitment. @Tjark, on behalf of a collective of PoolTogether community members, has laid out their delegate case.

A grant update from PoolTogether, “the front door to defi on Optimism,” has been posted by @Leighton.

Proposals for retroactive public goods funding. @Jonas has posted some recommendations for the next experiment.

In Discord

Lots of discussion in #gov-general about seeking delegate feedback and approval.

Formally signaling that a proposal is ready for the voting cycle is not an indication of a delegate’s endorsement of the proposal itself.

Should Governance Committee recommendations be posted earlier in the voting cycle?

In the future, Governance Committee recommendations may be linked to in Snapshot.

New and improved Gov docs have been put out there, incorporating feedback.

:speaking_head: Check in on the #gov-temp-check channel to respond to proposals looking for feedback.

On Twitter

This week in Optimism.

OP Radio is a weekly Twitter Spaces event “covering a wide range of topics in the Optimism ecosystem” — every Wednesday at 3PM GMT.

Optimism Docs are now available as an app for mobile and desktop.

Claim your Delegatooor.

A proposal tracker, courtesy of @OPGovWatch.

Governance Calls

:speaking_head: Join the next call (Discord event link) — which is sure to be lively — on September 27, 5PM GMT. Call details and agenda items are in this forum post.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

8 Likes

Week of September 26, 2022

Summary

We’re in Week 1 of Voting Cycle #7, and coming up on Week 2, which begins on Thursday, October 6 at 7PM GMT. Week 2 is Governance Committee review week.

There have a been a few small but important changes to the Operating Manual, summarized here. These include an update to Governance Committee operations. In particular, “proposals that are not included” in the Roundup thread (see below) by the end of Week 1 (October 5, 7PM GMT) “will not be reviewed by Committees.”

Proposals

Seven of the 10 proposals from Voting Cycle #6 passed. See them at a glance by selecting the “passed” tag in the forum and scanning for “cycle-6.”

Remember: only those proposals that have “received explicit approval comments from two delegates with >0.5% voting power” will be included in the Cycle #7 Roundup thread.

:speaking_head: Take a look through all the proposals tagged “cycle 7,” ask some questions or leave some comments if you are so moved.

In the Forums

Delegate communication threads have been updated to include voting rationales.

There’s a good exchange about self-delegation, started by @jackanorak, which led to clarification of ambiguity in the grant proposal template.

Governance fund accountability: @OPUser has started a thread to provide a “low level overview” of funds “usage and impact on OP ecosystem.”

There’s a new delegate commitment from @iover2020

Create a subDAO for OP holders to explore governance?

Anyone want to meet up at Devcon?

In Discord

Should you delegate to yourself?

Still issues for some voting through Snapshot.

:speaking_head: Check in on the #gov-temp-check channel to respond to proposals looking for feedback.

On Twitter

When your protocol service provider contract comes with governance tokens there’s a “clear first mover advantage,” @francisgowen says. How to handle it?

Why retroactive public goods funding (RPGF) matters, by @binji_x.

This week in Optimism.

OP Radio, a weekly Twitter Spaces event “covering a wide range of topics in the Optimism ecosystem.” Wednesdays at 3PM GMT.

ETHonline Optimism Hackathon winners announced.

Optimism Kovan testnet will be fully decommissioned on October 5.

Governance Calls

A thorough and helpful recap of the last call has been provided by @Michael, who also hosted and moderated.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

8 Likes

Week of October 3, 2022

Summary

We’re coming to the end of week 2 in Voting Cycle #7. Proposals included in the Roundup thread will soon be receiving assessments from Governance Committees and will be posted to Snapshot for Week 3, which is voting week. Week 3 begins this Thursday, October 13, at 7PM GMT and will end on Wednesday, October 19, 7PM GMT.

:speaking_head: Optimists are at ETHBogotá and Devcon from the 7th-14th; you can see where they’ll be and check out the project prize list here.

Proposals

:speaking_head: Look over the 16 (!) proposals in the Roundup thread.

There are already several proposals drafted and tagged for Voting Cycle #8.

In the Forums

Continuing thoughts about how to bring “no coiners” into Optimism, via a university or a curriculum, from @TheDoctor.

A conflict management guide, courtesy of Gravity DAO via @juankbell, following up on the idea of a conflict committee.

Is OP overlooked in social media? asks @Ovetta.

Yield farming / staking tokens while maintaining voting rights: At least a couple of projects are working on this.

In Discord

The Uniswap Foundation has posted a request-for-comments in their forums to get feedback on the structure of the liquidity mining program for which they were granted $1m OP during Phase 0 of the Governance Fund.

What if a proposal changes significantly after having received delegate approval?

How flexible or rigid should we be about Voting Cycle rules?

:speaking_head: Check in on the #gov-temp-check channel to respond to proposals looking for feedback.

On Twitter

“¡que tal nerdos!” It’s this week in Optimism.

OP Radio Featured a conversation with PoolTogether.

Voter participation in Optimism has increased, according to this thread by @flipsidegov.

Governance Calls

The next call is on Tuesday, October 11 at 5PM GMT, hosted by @lavande.

:speaking_head: Check out the agenda and keep your eyes peeled for the Zoom link.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

8 Likes

Week of October 10, 2022

Summary

We’re in the third week of Cycle #7, which is voting week. We’ve got until October 20 (7PM GMT) to submit our votes for this Cycle. Community feedback week of Voting Cycle #8 begins thereafter.

Proposals

I’m not including synopses of the (14) proposals this time around since they have been collected and thoroughly assessed by the various parties noted below. And it would make this a very lengthy post. (If you have a different take, let me know.)

Here’s the Voting Cycle Roundup thread for Cycle #7. Note that the Curve, EthernautDAO, and Homora V2 proposals listed there did not make it to the Snapshot this time.

:speaking_head: Check out the Governance Committee Recommendations concerning this Cycle’s proposals:

:speaking_head: Vote now! — voting is live only until October 20, 7PM GMT. That’s Thursday.

In the Forums

DeFi Shadow Committee recommendations for Cycle #7 are posted in this thread.

Governance Committees are now expected to publicly identify their assigned proposals by the first day of week 2, and post their recommendations by the last day of week 2.

Additionally, as @lavande writes following discussion during a community call, if something isn’t spelled out in Governance Committee procedures, the committees have discretion over their own operations.

See the delegate communications category for updates from @ScaleWeb3 — and more likely forthcoming.

Delegate areas of interest. There’s more discussion about updating this page.

Community Mottos: Check out the brainstorm and contribute something pithy that captures the spirit of community interaction we’re looking for.

In Discord

Reminder: Governance Committees are a Season 2 experiment. Debates in #gov-general have been heated.

When DAO funding proposals go wrong — chills.

:speaking_head: Check in on the #gov-temp-check channel to respond to proposals looking for feedback.

On Twitter

Modular Rollup Theory through the Lens of the OP Stack, a talk by @kelvinfichter at Devcon.

Social coordination in DAOspressing issues.

Optimism NFT bridge. Official, via @qx_app.

This week in Optimism.

Governance Calls

Community Call #6 (last week) was hosted by @lavande and is summarized here.

:speaking_head: Join the next call, on Tuesday October 25 (5PM GMT).

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

5 Likes

Week of October 17, 2022

Summary

Eleven out of 14 proposals passed in Cycle #7. Rough math: 13-14K wallets voted on each proposal, which is significantly more than Cycle #6, which itself outpaced Cycle #5. That’s amazing. :sparkles:

We’re now coming to the end of week 1 of Cycle #8.

:speaking_head: Get those delegate approvals and move your proposal to the Roundup thread.

This is the last Voting Cycle of Season 2. We’ll be having an off season and reflection period.

Proposals

The Voting Cycle #8 Roundup thread has already started, with three entries as of today having received the needed delegate approval.

:speaking_head: You can view all Cycle #8 proposals — in “draft,” “review,” or “ready” states — by filtering with categories and tags.

In the Forums

Community Mottos brainstorm: there are a few more ideas and contributions — check them out.

The delegate updates category includes the latest reflections and recommendations from @GFXlabs, @OPUser, @polynya, @Bobbay_StableLab, and @Joxes.

“Incentives aren’t having much of an effect in incentivizing user growth,” says polynya, and suggests Governance Committees “start considering the results of previous incentives in greater depth” so as not repeat ineffective approaches.

Synthetix and Phase 0 delegation: @MattL explains the current stance of the Synthetix Ambassadors.

Don’t make Quest a large criteria for airdrop 2,” says @bangrygoose.

In Discord

Do delegates have to explain when they vote against a Governance Committee recommendation?

Resubmitting a proposal for Cycle #8 after changes have been made requires getting delegate approval again.

Delegates to submit solutions to GitHub: See @lavande’s post detailing an experiment to have delegates submit PRs for solutions to the last-minute-change-to-an-already-approved-proposal problem.

Can OP received via governance fund grants be sold to fund development and R&D, if so stated in a proposal?

Snapshot issues persist for some voters. Here’s the Optimism Foundation’s position.

:speaking_head: Check in on the #gov-temp-check channel to respond to proposals looking for feedback.

On Twitter

Play OPCraft!

This week in Optimism.

OP Radio: Autonomous World Building with Lattice.

Governance Calls

There’s a community governance call on Tuesday, October 25, (10am PT / 1 pm ET / 7pm CET) hosted by yours truly. All are welcome.

:speaking_head: Join in to reflect on Cycle #7 and help shape Optimism governance. Agenda-in-formation posted here.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

7 Likes

Week of October 24, 2022

Summary

Happy Halloween Optimists! :ghost:

We’re nearing the end of week two of Voting Cycle #8. Governance Committees will be issuing their recommendations for all the proposals that will be up for voting beginning on Thursday, November 3 at 7pm GMT. Keep your eye on delegate communication threads as well.

The #gov-general channel in Discord exploded last week, until @lavande stepped in and provided guidance. The Optimism Foundation is working on an “enforceable delegate code of conduct”; in the meantime, we should be adhering to the Discord and forum codes of conduct.

Proposals

:speaking_head: Check out all the proposals in the Voting Cycle #8 Roundup Thread. Voting begins later this week.

In the Forums

Season 2 Feedback Thread. Contribute constructive thoughts here ahead of the upcoming Reflection Period. Lots of insight shared already.

Discursive health of DAOs. Here’s a brief research survey to complete, about governance.

Synthetix and Phase 0 delegation. This continuing thread is both contentious and important for OP governance. Take a read.

Concerns about OP governance. @ScaleWeb3 provides some thoughts and an analogy: “The lack of meaningful governance activity in this governance delegate model and the cartelization/oligopoly around grants reminded us of a good old article: Lisk - the mafia blockchain.”

In Discord

If you have the capacity, dive into the #gov-general exchanges from this week. Then go outside and touch grass.

:speaking_head: Check in on the #gov-temp-check channel to respond to proposals looking for feedback.

On Twitter

Optimists at ETHSanFranciscosee here.

This week in Optimism and @jinglejamOP on this episode of OP Radio.

What are the top apps on Optimism?

15k OP up for grabs in this metaverse hackathon.

Governance Calls

A recording of the most recent Governance Call can be found here. There was an excellent presentation by @haonan and @MSilb7 dissecting the effectiveness (or lack thereof) of the Governance Fund so far.

:speaking_head: The next call is scheduled for November 8. Keep your eyes on this calendar for all things Optimism governance.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

5 Likes

Week of October 31, 2022

Summary

We’ve got 18 proposals up for voting; several were added late by Governance Committees, which had the discretion to do so.

Proposals

:speaking_head: Vote on Snapshot, if you haven’t already. We have only until Thursday, ~20:00 UTC.

Here are links to the Governance Committee recommendations:

Several delegates have updated their threads to detail their votes and reasoning or otherwise provide thoughts on Cycle #8: @Bobbay_StableLab; @polynya; @OPuser; @ScaleWeb3

In the Forums

The Season 2 feedback thread remains active — contribute here.

An old voter apathy thread has been resuscitated with some interesting observations, and a new one has been started. Take a look at both.

The governance accountability thread is updated by OPUser.

Support for partial delegation from new user @S4t0sh1.

A badge for Governance Committee members?

A new delegate commitment from @0x000.

In Discord

The OP Foundation to “open-sourcetheir thinking on Season 3 ahead of schedule.

An idea for tagging interested delegates on proposals, from @Gonna.eth

On Twitter

Vitalik presents an updated Ethereum roadmap diagram.

This week in Optimism.

OP Radio #6: Social Metaverse project Atlantis World. ****

What’s next for DAOs: with Optimism, GnosisDAO, Superfluid, and Snapshot.

Governance Calls

:speaking_head: The next call will be hosted by @Michael and is on Tuesday, November 8, 18:00 UTC. Call details in this post.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

6 Likes

Week of November 7, 2022

Summary

We’ve reached the end of Voting Cycle #8 — and Season 2. Thirteen out of 18 proposals were approved in this last round. We’re now in the “Off Season,” which ends on November 16.

:speaking_head: Read and respond to the Optimism Foundation’s Guide to Season 3, which puts forward new ideas, approaches, and proposals concerning the delegate code of conduct, the Governance Fund charter, and retroactive delegate awards, among other things. (Proposals are covered below.)

Reflection Period: November 17 - December 7

Special Voting Cycle # 9a: December 8 - December 21

Proposals

Moving to a Grants Council: A draft proposal from the Foundation to “restructure the grants process to overcome the challenges faced by committees, improve the proposer experience, create accountability for grant recipients, and reduce delegate workload.”

Protocol Delegation Program: Another draft proposal from the Foundation to “allow protocols to have a voice in governance without self-delegating grants.”

:speaking_head: Both of the above proposals will be voted on in Special Voting Cycle # 9a.

In the Forums

Delegate communication. Voting Cycle #8 and seasonal updates from GFX Labs and @Gonna.eth.

Is it time for on-chain OP voting? @GFXlabs and @millie get the discussion started.

Retroactive delegate awards for Seasons 1 & 2 are explained here.

The Season 2 feedback thread continues.

Incentives to address voter apathy. The discussion continues.

Delegate accountability. Karma shares progress on its grant-funded dashboard — check it out.

In Discord

The #gov-monitoring channel has been created to “discuss the monitoring and oversight of Optimism governance.”

Here’s what to do if you had any issues voting on Snapshot during Cycle #8.

The allocation of retroactive rewards for Governance Committee members has been shared.

On Twitter

Here’s Optimism’s weekly update, which has a link to OP Radio #7 (Motorheadz Nostalgic NFT Collection).

How do you shuffle a deck of cards on the blockchain? A thread by @norswap.

Cycle #8 voting decisions laid out and explained, by @lefterisjp.

Governance Calls

  • Here’s a recap of last week’s community call, hosted by @michael, with a link to the recording if you missed it.
  • And here’s a recording of last Wednesday’s call with the Optimism Foundation about the Guide to Season 3: Course Correcting.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

6 Likes

Week of November 14, 2022

Summary

We’re reflecting. But only through December 7.

The Guide to Season 3 thread continues to see engagement; read up and contribute if you have something to say.

Proposals

—Still the same two we had last week. Discussion continues.

Moving to a Grants Council: A draft proposal from the Foundation to “restructure the grants process to overcome the challenges faced by committees, improve the proposer experience, create accountability for grant recipients, and reduce delegate workload.”

Protocol Delegation Program: Another draft proposal from the Foundation to “allow protocols to have a voice in governance without self-delegating grants.”

:speaking_head: Both of the above proposals will be voted on in Special Voting Cycle # 9a (December 8 - December 21).

In the Forums

Proposals are difficult to track on the forums. @GFXlabs calls our attention to this problem.

Where has the OP gone? @jackanorak has started a thread “loosely tracking” what happens to granted OP.

Delegate communication thread update from @Joxes.

Delegate pitch. @Juanbug_PGov of FranklinDAO describes the group’s approach.

Incentivizing OP delegation through quests. @jrocki.bedrock suggests a way this can be done.

Incentives to solve voter apathy. Discussion continues.

In Discord

Next snapshot of OP for the next round of voting: December 8, 19:00 UTC.

Retroactive delegate compensation has been updated.

On Twitter

Optimism Foundations sponsors season 7 of SheFi.

Governance Calls

The next community governance call is on Tuesday, November 22, at 18:00 UTC. See and contribute to the agenda here.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

7 Likes

Very concise and governance recap insightful.

1 Like

Week of November 21, 2022

Summary

We’re still reflecting — there’s much to consider.

In the meantime, here’s a screenshot of the schedule for the upcoming weeks and months. Further details can be found in the Guide to Season 3 thread (from which the screenshot is taken):

Proposals

Updates to the Grants Council proposal and Protocol Delegation Program proposal continue to be made. Stay current: voting will start on December 8.

In the Forums

What is votable supply? @diligit points to some guidance.

Karma’s delegate dashboard has been updated.

Rewards for users who didn’t sell everything after Airdrop #1 — and perhaps a punishment for those who did. This question has come up again.

In Discord

More information about the above proposals, voting processes, and Season 3 will soon be forthcoming from the Foundation (in the forums).

On Twitter

Quix is winding down, and going open-source.

This week in Optimism.

Beethoven X was on OP Radio

Governance Calls

Here’s @Michael’s excellent recap of call #9 on November 22; it includes links to the slides and the recording.

:speaking_head: Keep your eyes peeled for details on the next call, which will be on December 6.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

7 Likes

Thank you for putting this together. I will be hosting the next call. Looking to put everything together for that call within the next day or so

3 Likes

Week of November 28, 2022

Summary

We’re nearing the end of the reflection period, with the next voting cycle just ahead of us (see below).

:speaking_head: On November 29 the Optimism Foundation posted information about Grants Council membership — so if you’re interested in being on the Council, check it out.

Proposals

The Grants Council and Protocol Delegation Program proposals continue to see active discussion ahead of Voting Cycle #9a, which begins on December 8.

:speaking_head: Voting Cycle #9a is coming up!

In the Forums

Reporting requirements for grantees. Suggestions from the Foundation.

The Karma delegate dashboard continues to be developed. Try it out and provide feedback.

Delegate communication. @Joxes presents a “compilation of thoughts” on Season 2, gathered from the DeFi LATAM community.

The delegate code of conduct has been updated.

In Discord

Council Reviewers. Here’s an exchange about how council members might keep delegates informed.

On Twitter

“How can we get them to fork us more?” One of @divine_economy’s favorite things about Optimism.

Vitalik on governance rights and token value.

Happy birthday beacon chain!

This week in Optimism, with OP Radio #9 featuring Lido.

Governance Calls

:speaking_head: The next call, led by @jrocki.bedrock, is coming up on December 6 (18:00 UTC). Keep your eye on this post for further details.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

6 Likes

Week of December 5, 2022

Summary

There are two important proposals up for voting. These two have seen record voter engagement so far, with over 20k wallets participating at the time of writing. Voting ends on December 21.

Also important: Optimism governance will be transitioning to on-chain voting for Season 3.

And even more important! The Optimism Foundation recently announced the first iteration of the Citizens’ House.

:speaking_head: Related: Token House badge-holder nominations are due by December 14 (20:00 UTC).

Proposals

Grants Council (Snapshot | Discussion). This proposal intends to establish a Grants Council — made up of a council lead working together with eight reviewers — to manage the Governance Fund proposal process. Governance Committees will no longer be in place; instead the Council “will have full decision making authority as to which grants are made.” If this proposal is approved, the Optimism Foundation will select the Council Lead while delegates will vote for the eight council reviewers (who must self-nominate). Reviewers on the Council will be split into two sub-committees: The Growth Experiments Sub-Committee and the Builders Sub-Committee. The Council will have a total seasonal budget of 5 million OP; budgets will need to be approved by delegates each season — if the Council itself proves a worthwhile evolution of Optimism governance.

Protocol Delegation Program (Snapshot | Discussion). This proposal seeks to address the controversial protocol self-delegation issue by temporarily delegating a certain amount of “idle” tokens from the Governance Fund to protocols according to a specific criterion. This criterion is “designed to be simple, objective, not easily gameable, and applicable across protocols”: total gas fees generated on Optimism during the preceding Season. Multipliers and certain other important conditions detailed in the proposal. The maximum amount of OP a protocol can be delegated is 2 million (e.g. if a protocol already has 2 million in delegated OP, they will not receive any more through this program). Up to 15 protocols will be selected according the above criterion. An additional eight protocols may self-nominate to receive delegated OP; those self-nominating protocols will be voted on in Voting Cycle #9b — should this proposal pass.

In the Forums

Delegate commitments. Six new ones have been posted since last week.

L2BEAT’s new Governance Delegate is @kaereste.

Voting power grant proposal. @Jadmat suggests a framework for proposers who want to self-delegate granted OP.

More on on-chain. @rshuel from a16z provides insight about on-chain governance.

In Discord

Data from a Dune dashboard will be used to identify the protocols eligible for the delegation program (see proposal above).

On Twitter

This week in Optimism. It was a big one.

Gitcoin hosted a Twitter Spaces convo about Optimism’s retroPGF round.

And a thread on the same RPGF Round 2 by the Optimism Foundation.

Governance Calls

:speaking_head: Check out the recap of last week’s call, together with a recording. Many thanks to @jrocki.bedrock for hosting.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

7 Likes

Week of December 12, 2022

Summary

Another week of exciting announcements from the Optimism Foundation, including the AttestationStation, a smart contract on Optimism that provides “a permissionless and accessible data source for builders creating reputation-based applications.”

:speaking_head: Voting for the three proposals below ends on December 21 ~1:30pm ET.

Proposals

Badgeholder Nomination Voting (Snapshot | Discussion). The Optimism Foundation recently announced the initiation of its long-awaited Citizens’ House, which, together with the Token House, forms the bi-cameral governance structure of the Optimism Collective. As part of this initiation, voting badges for the Citizens’ House will be distributed to 90 community members; 10 of these community members will come from within the Token House, and are to be nominated and voted for by the community through this proposal. Requirements for nomination are listed in the originating post, and the final nominations are listed here. It is important to note that this is not “ranked choice” voting. I.e. any number of nominees can be voted for, but the 10 with the highest number of votes will be selected.

Grants Council (Snapshot | Discussion). See description in last week’s recap above.

Protocol Delegation Program (Snapshot | Discussion). See description in last week’s recap above.

In the Forums

New delegate commitments from @Catdl and @Heartistry.

Delegate communication updates from @Gonna.eth, @OPUser, and @Joxes.

Where has the OP gone? Analysis of Aelin and Singlshot grants by @jackanorak.

In Discord

Voting in Token House badge-holder elections isn’t ranked choice. You can vote for any number of nominees, and the top ten will be selected.

Just how many Citizens in the Citizens’ House?

Season 3 will be roughly nine weeks long, depending.

What happens if badge-holders from rPFG1 get elected for Citizens’ House badges?

On Twitter

See your Optimism Score, built by Flipside on Attestation Station.

AttestationStation Launch on Twitter Spaces.

This week in Optimism.

Supreme Optimist Kelvin Fichter on OP Radio #11.

Justine (@lavande) talks about the Protocol Delegation Program proposal with Boardroom.

Open-souricing the Quix NFT marketplace on Optimism, on The Web3 Experience Podcast with @jrocki.bedrock, web3mark, fucory, justsayuluvjo (live Space on Monday, December 19, 7pm ET).

Governance Calls

:speaking_head: The next call will be on December 20 (10am PT / 1pm ET / 7pm CET), hosted by @Michael, on Zoom. More details here.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

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Week of December 19, 2022

Summary

Governance Update #5 notes some important changes for Season 3 following from the success of the Grants Council and Protocol Delegation Program proposals (33k+ wallets voting in each!) and the distribution of voting badges to the first set of Citizens. Here are a few items from the Update:

Applications for all of the above are due by January 4, 2023 19:00 GMT. Voting on the Council Reviewers and the self-nominated protocols in the delegation program will take place during Voting Cycle #9b.

:speaking_head: Voting Cycle #9b: from January 5th 19:00 GMT to January 18th 19:00 GMT.

See Update #5 for more details on RetroPGF2 and an outline of “what to expect in Season 3” — which officially starts on January 26th.

Proposals

Voting Cycle #9a just ended. See above and Governance Update #5 for more info on the next Cycle.

In the Forums

:speaking_head: Requests for grants: Builders & Growth Experiments. Post your suggestions!

Delegate communication thread updates from @ScaleWeb3, @Joxes, @kaereste (L2BEAT), @GFXlabs, @Bobbay_StableLab, and @jackanorak (here).

Citizen House selection based on on-chain activity?

Some more discussion on the subject of the Synthetix Ambassadors Phase 0 delegation.

Enabling governance with OP that is used as collateral?

New delegate commitment from @Organicfruitjuice.

On Twitter

Happy holidays, nerds! The week in Optimism.

Optimism 2022: Year in Review (Mirror article). Also in Chinese, Polish, Russian, and Vietnamese.

Deep-dive stats for every project on Optimism, courtesy of Michael Silbering.

OP Radio #12, with Mirror.

Governance Calls

:speaking_head: The next call will be on January 3, 2023 10am PT / 1pm ET / 7pm CET. Details will be posted to the forum. Michael’s recap of the last one is here, together with the recording.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

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Week of December 26, 2022

Summary

Happy New Year, Optimists. :fireworks:

:speaking_head: Applications are due January 4th 19:00 GMT for the Grants Council Lead, for Grants Council reviewer self-nominations, and for protocol delegation self-nominations. (We have five Grants Council reviewer nominations so far, check them out.)

As noted last week: See Update #5 for more details on RetroPGF2 and an outline of “what to expect in Season 3” — which officially starts on January 26th.

Proposals

:speaking_head: Voting Cycle #9b takes place from January 5th 19:00 GMT to January 18th 19:00 GMT.

In the Forums

New delegate commitments from @0xMauri, @revmiller, @Oxytocin, @Benjamin.lens.

Delegate updates from @jackanorak and @Joxes.

Protocol delegation self-nominations are being added to this thread.

Can we get a final list of the protocols that will be getting the delegated OP?

Rebalance delegate tokens for more decentralization? @Gonna.eth wonders.

In Discord

How to be included in Voting Cycle #10?

On Twitter

Crypto predictions for 2023, from @protolambda.

Governance Calls

:speaking_head: The next community call is Tuesday, January 10 at 10am PT / 1pm ET / 7pm CET. See the forum post for more info (and here’s the Zoom link).

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

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Week of January 2, 2023

Summary

Since the deadline for applications for Grants Council Lead, Reviewers, and protocol self-nominations was extended to January 11 , a number of new folks (and groups) have put themselves forward for the role of Reviewer. Too many to list here, but take a good look now as voting for Reviewers will begin this week. Similarly, protocol delegation self-nominations are coming in strong.

:speaking_head: If you have questions or comments, there’s a community governance call coming up tomorrow.

Proposals

:speaking_head: Voting Cycle #9b — for Grants Council Reviewers and protocol delegations — will take place from January 12th 19:00 GMT to January 18th 19:00 GMT.

In the Forums

Optimism en Español2022 Recap, thanks to @NicoProducto.

Eight new delegate commitments have been posted over the last week.

Delegate communication thread update from @MoneyManDoug.

Delegate rebalance debate — continues.

In Discord

The Snapshot of your (delegated) OP will take place on January 12, ahead of the voting cycle. Make sure your OP is where you want it to be.

On Twitter

First Optimism weekly recap of the year.

“This meeting could’ve been an email : This NFT could’ve been an attestation,” says Michael Silbering.

Governance Calls

:speaking_head: The next community call is tomorrow, Tuesday, January 10 at 10am PT / 1pm ET / 7pm CET. See the forum post for more info (and here’s the Zoom link).

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

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Week of January 9, 2023

Summary

Optimism’s Goerli testnet was upgraded to Bedrock! Mainnet next.

As shared during the last community call, hosted by @michael, @ben-chain is looking for feedback about what kind of protocol upgrade information the community would want ahead of an upgrade vote: “Mainnet upgrades need to go through the Token House.”

The Grants Council will soon be set and at work. Check out the two request-for-grants threads, which will inform the Council’s Growth Experiments and Builders sub-committees.

Proposals

:speaking_head: Special Voting Cycle #9b is under way — voting ends soon, on January 18, 19:00 UTC.

In the Forums

Delegate code of conduct was updated by @lavande with several additions/clarifications, including under what circumstances a delegate can vote for their own candidacy.

Delegate communication thread updates from @Gonna.eth, @ScaleWeb3, @GFXlabs, and @OPuser.

New delegate commitments — there are ~20 of them.

In Discord

The forum is being reorganized.

And also, forum spam seems to have increased lately.

On Twitter

RetroPGF2 nominations start on Tuesday (plus, a good meme).

This week in Optimism, and OP Radio is now a podcast too.

Governance Calls

:speaking_head: The next community governance call, hosted by @jrocki.bedrock, is tomorrow Tuesday, January 17th at 10am PT / 1pm ET / 7pm CET. The recap (link to recording) of last week’s call is here.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

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Week of January 16, 2023

Summary

The Grants Council Reviewers have been elected and the Council Lead chosen — congratulations to all! (See tweet thread here for details.)

Here’s a complete list of protocols participating in the delegation program for Season 3.

Season 3 of the Governance Fund begins on January 26.

Meanwhile, nominations are being submitted for RetroPGF2 in the education, infrastructure & dependencies, and tooling & utilities categories — nominations will be accepted through January 31. You can also provide your feedback on this round of RetroPGF.

Proposals

Special Voting Cycle #9b ended on January 18.

:speaking_head: Check out the proposals being submitted for Cycle #10.

In the Forums

You may have noticed that the forum has been reorganized; here’s a navigation guide.

Request for grantsGrowth Experiments, and Builders.

Delegate communication thread updates from @polynya, @Bobbay_StableLab, @jackanorak, and @Joxes.

Six new delegate commitments.

Grant proposal template has been updated.

On Twitter

Optimism in the World Economic Forum report on DAOs.

This week in Optimism, and Tally Ho on OP Radio.

If people think what you’re doing is grandiose and unrealistic….

Governance Calls

:speaking_head: The next community governance call will likely be on Tuesday, February 7th at 10am PT / 1pm ET / 7pm CET. (Details haven’t been posted yet.) The recap (and the link to the recording) of last week’s call is here.

Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom

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