katie
March 24, 2023, 10:57pm
2
Hello and thank you for your proposal! Throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period. Please note that the cutoff for modifications is Monday.
At this stage, applications are mainly being reviewed for completeness, and nothing at this stage should be construed as support or opposition by any members of the Grants Council.
Metalswap:
Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone:
1 - Create a testnet to test and adapt our product’s smart contracts on the Optimism network.
2 - Bridge our governance token XMT onto the Optimism network.
3 - Create tutorials and documentation to enable our community to learn about and operate with Optimism.
4 - Publish an editorial calendar with the most important use cases of our product.
5 - Achieve the first 1000 transactions on our product within 3 months from the start of distribution
6 - Achieve 3000 transactions by the end of the 6-month distribution plan. After the distribution plan of OP and XMT, the distribution of our governance token XMT will remain active.
7 - After the distribution of OP is completed, the distribution of XMT will continue. During the 6 months of distribution, XMT will receive the buyback of the fees generated by our system. In fact, 80% of the fees collected by our system will generate a buyback.
Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone:
1 - Deploy our product’s smart contracts on the Optimism network, adapting the smart contracts to the XMT and OP distribution system.
2 - Provide initial liquidity to enable trading with the three token pairs: ETH/USDC, WBTC/USDC, and OP/USDC.
3 - Monitor and update our product based on community feedback and Optimism network developments
Please update your milestones to include measurable KPIs with timelines. Additional information on milestones can be found here .
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