My One Year in this collective movement!!!
What a journey, learned a lot, tried my best to contribute with my time and limited knowledge, we had some up and down but I remain bullish and looking forward to new challenges.
A successful first iteration of RPGF, Base building on top of Optimism and client diversity by a16z and Karl taking role of CEO, good vibes all around.
During second season of gov, I, along with other delegate and community member, were asking for on-chain report on usage and impact of fund distributed to projects. Goal was to understand the loose end, look at short coming, learn from them and apply those learning in upcoming season. Stopped following up on my Goverance Fund Accountability - An overview thread because of lack of Dune knowledge and support from project.
But we have support from OPLab team and they published there detailed report on monthly basis, Apr 2023 - Governance Call OP Rewards Analytics Update , Mar 2023 - Governance Call OP Rewards Analytics Update I encourage everyone to read them. Liquidity mining impact was short lived, as anticipated by other delegate, even for project with multiple grant approved by the collective. For example, Pooltogetherhas a clear decline in tvl [defillama] even with multiple grant approved and same goes with most, if not all, protocols. Seems we are burning oil just to keep the fire alive. I was in favor of PT second proposal because the ask was relatively low and their impact from first grant to visible and seemed sustainable, at least at that time, which is not the case. In retrospective, there are much to learn here -
- we should not approve multiple proposal from same project, might be an exception when second proposal is completely different from the first one
- there must be some gap between first and second, few weeks at least
There has been lot of proposal so far, some were successful, for others we need to wait for couple more months while rest were not fully disaster as we learned something from them. Going forward, my request from collective would be to pull back a little from granting funds to existing project and rather focus on new project bringing new ideas and innovation, we have some good, positive hype going on because of RPGF and we should use it to foster and incubate new innovative protocol, invite developer from different region, fund and support them.
Two of my personal favorites domain which need more support and encouragement are privacy and gaming. Privacy is one major pillar of blockchain, even EY is building a private chain, and i wish to see more project building around it, natively on Optimism. Firn could not make it to final list of grant recipient, and with aztech moving towards their own chain, I hope they will come back stronger in next round. Look around, Polygon is building with Immutable, Starknet is collaborating with unstoppable games, Nike is bullish on Metaverse and list goes on, onchain gaming and metaverse has huge potential, an unexplored domain full of challenges, uncertainty and opportunities.
1- Mention of pooltogether should not be treated a targeted comment on them or any other project.
2- I invited Firn to submit their proposal and was helping them with gov related queries, I dont have any connection with them. Just personally motivated to support privacy protocol.