[Mission Request] Optimism Full Financial Audit

Mission Grants 🏹
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Delegate Mission Request Summary

This mission requests a full audit of all of Optimism Collective’s financials so that the DAO can better understand the current financial state of Optimism: how much in assets the DAO currently holds, the breakdown of these assets, the DAO’s annual burn rate, where this burn is going, what value the sources of this burn are driving back to the DAO, and more. This research will then tie to the other mission request our team shared titled [Mission Request] Optimism Treasury Diversification Research. This research into Optimism’s financials will be necessary before making any recommendations regarding the Optimism treasury.

A model report by the team at r3gen Finance was completed earlier this year for Arbitrum. Links to that report can be found here:

S6 Intent

Intent 3A

Proposing Delegate/Citizen

Anthias Labs

Total grant amount

20,000 OP

Should this Mission be fulfilled by one or multiple applicants?

One

How will this Mission Request help accomplish the above Intent?

The goal of the relevant intent to this mission is to get more developers building on the Superchain. By understanding the current expenses and incomes of the collective, we can more effectively utilize incentives and other programs to bring more developers to the Superchain.

What is required to execute this Mission Request?

  • A financial analysis of Optimism Collective, likely completed in collaboration with members of the Optimism Foundation and OP Labs
  • The analysis should cover trailing 12 months revenue and expenses for the DAO as well as forecasts for the next 12 months
  • The analysis should provide clear insight into the assets, liabilities, and cash flows of the Optimism Collective
  • The analysis should provide insight into estimations of token price impact based on OP sell pressure due to DAO expenses
  • The analysis should walk through each expense and then provide frameworks for estimating the value these expenses are returning to the DAO, especially for any incentives given out or DAO service providers paid

How should governance participants measure impact upon completion of this Mission?

  • Milestones
    • First research team funded
    • First research piece reviewed
  • Metrics
    • Amount of expenses that can be adjusted after report
  • Impact
    • Growth of Optimism treasury (post-implementation of research)

Has anyone other than the proposer contributed to this Mission Request?

No

Which metric will the success of this Mission Request be evaluated against?

The North star metric against which this Mission Request should be evaluated is The North star metric against which this Mission Request should be evaluated is TVL as this Mission Request will help understand the current financial status of Optimism and grow current Optimism TVL.

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Hey, @AnthiasLabs do you know if this will require actions from The Foundation or Op Labs? Mission requests can’t request support or any action from them.

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It should not require this as all transactions should be on-chain. It will be a matter of following all DAO service proposals, contract agreements, on-chain payments, etc.

The note around “collaboration with members of the Optimism Foundation and OP Labs” is just a suggestion but should not be necessary.

If this cannot be done without The Foundation of OP Labs, it would not be a good look…

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It’s not about whether it would look good or bad, the question is whether it can be done at all without their input

It would be exceedingly difficult to tease out the various pieces without their input, and the question is whether this MR is actionable at all without their participation

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Is it doable? Would be great to clear uncertainty and get proper audit though.

Supported.

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Yea, I’m really struggling with which way to go on this one. I like the idea of more financial transparency, but if it’s not possible then I don’t want to vote to assign 20k OP to it!

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There’s a clawback right? If they are unable to achieve what they set out to achieve? With this in mind I think it’s worth a shot. Financial auditing of the collective is incredibly important, and even if it’s not feasible, the collective saying they are willing to spend this amount to make it happen sends a powerful signal as well.

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Can Bitwave assist with this mission request?

We collaborate closely with the finance teams at the foundation and lab entities. Feel free to send a dm on TG (@Powerfullape) or email me at alberto.depablo@bitwave.io

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Hi @PowerfullApe! You can create an Application in Charmverse. Remember to select this Mission Request in the “Details” section of the Application.

If submitted before Tuesday 24th 19:00 GMT, it will be considered for the current Cycle (otherwise it will be part of Cycle 29). Here is the full Calendar.

PS: If when trying to join the space you get some kind of error, you can use this link.

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Hi @PowerfullApe - as Superchain Eco, we would love to collaborate on this research. I will shoot you a DM!

2 Likes