Week of October 28th, 2024
Recent Proposals
No on-chain proposals last week
Forum Highlights
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In the “Cycle 29 Final Roundup” forum post, it is announced that all milestones for Cycle 29 have been successfully achieved, marking a significant period of accomplishment with an increase in audit requests and the approval of a record 12 applications. Newly whitelisted audit service providers include Chainsecurity and OpenZeppelin. Noteworthy grants were awarded to Kroma, Derive (Take 2), and Polynomial. The Developer Advisory Board was commended for its timely reviews. As Cycle 29 concludes, attention shifts to the final phase of Season 6, with submission deadlines approaching and plans underway for Retro Funding 6. Additionally, several applications have either been approved or declined, reflecting ongoing efforts to bolster Optimism’s ecosystem through strategic grant allocations. Key applications approved include those from projects like Idle - Credit Vaults III and WakeUp Labs.
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Retro Funding 6: Badgeholder Manual
The Retro Funding 6: Badgeholder Manual discusses the logistics and details surrounding the sixth round of retroactive public goods funding within the Optimism network. This round includes specific voting periods and operates within defined criteria to effectively allocate resources to deserving projects. The post has engaged community members, evidenced by its 9 posts, 140 views, and 16 likes, but also highlights a discrepancy in the listed voting period, which initially noted dates erroneously as October instead of the intended November timeframe. Through this manual, the aim is to ensure clarity and alignment across badgeholders participating in the funding protocol.
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RetroPitches: Showcasing Retro Funding Round 6 Projects
Introducing RetroPitches, a new platform designed to support Retro Funding Round 6, aimed at showcasing the innovative contributions of public goods creators in governance infrastructure, analytics, and leadership on Optimism. This initiative, with a funding pool of up to 3.5M OP, will feature friendly competitions where contributors present their projects to demonstrate their impact and drive governance innovation. The event kicks off with the first session this Thursday at the Optimism Town Hall and will be followed by additional sessions next week. Alongside, RetroPolls is introduced as an onchain impact evaluation system to amplify participation from various community members. Participants are encouraged to join the onchain Respect Game, which enhances networking and helps in evaluating contributions, affecting RetroPolls voting. This engaging format aims to provide visibility and recognition for impactful projects while enriching the Optimism ecosystem.
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Analysis of Voting Data for Retro Funding 5
The recent analysis of voting data for Retro Funding 5 reveals a significant shift towards a flatter reward distribution among projects. The top project, geth, received 235K OP, while the median and lowest-ranked projects received 93K and 37K OP respectively, marking an improvement for “average” projects compared to past rounds. This trend reflects voters’ preference for more equitable distribution, challenging the traditional power law distribution where a few projects receive the majority of funding. Additionally, the voting behavior varied significantly between experts and non-experts, sparking discussions about the appropriate composition of voters. The report, enriched with data visualizations and methodological insights, also invites further exploration and discourse during upcoming workshops.
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The Collective Feedback Commission: The Next Iteration
The Collective Feedback Commission (CFC) is evolving as part of the Optimism Collective’s strategy to develop robust governance. Initially piloted in Season 5, the CFC aims to gradually transition governance responsibilities to the community, with metagovernance as the final responsibility to be transferred. The CFC acts as a ‘Core Governance Program’, similar to Core Development Programs, preparing members for future governance roles. The program is iterative, with each phase expanding member responsibilities and participant numbers. For Season 7, starting November 4th, the commission undergoes expansion, focusing on shared governance insights, collaboration with the Foundation, member specialization, and enhanced agency in design decisions. Despite delaying the open contribution path component, the CFC continues to prioritize refining core governance aspects. Participants will engage in distinct tracks, with clear roles and responsibilities, under the guidance of Foundation Leads. The initiative underscores a commitment to inclusive feedback and evolving governance frameworks within the Optimism ecosystem.
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Reallocating Pre-Approved And Unused Grants - Rubicon Phase 0 + Phase 1
The forum post proposes reallocating approximately 110,000 OP tokens from previously approved but unused sources to enhance the Rubicon Grants Fund. This includes 60,000 OP initially allocated for Rubicon Pools V2, a project that has been discontinued, and over 50,000 OP in unclaimed rewards from an early user airdrop. The aim is to utilize these idle tokens to further develop the Rubicon protocol, including the launch of the RUBI governance token, benefiting both the Rubicon and the broader Optimism ecosystems. By doing so, the proposal seeks to maximize token utility, support Optimism’s ecosystem growth, and accelerate the launch of RUBI while leveraging Rubicon’s proven track record in executing grants effectively on the network.
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