Basic Details
Project name: Passage / GYSR
Author name and contact info (please provide a reliable point of contact for the project.): Zac Choi (Twitter: @ w3bzac), Josh Peters (@ joshpeters_), Devin Conley (@ devinaconley), Alex Jebb (@ jebbathehut)
L2 recipient address:
Optimism multisig wallet: 0x462cc7EA60a364410FeF8c621b73a1f1c78De513
Which Voting Cycle are you applying for?: Cycle 11
I confirm that I have read the landing pages for the Builders 25 and Growth Experiments 24 Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Builders Sub-Committee: [Yes/No]: Yes
Project Details
What are you going to build?:
We are going to build a deep integration between GYSR’s upcoming v3 functionality and Passage Protocol to provide membership tooling on Optimism. We will integrate the GYSR protocol with Passage products to enable loyalty rewards, community incentives, and other new membership capabilities. Passage and GYSR will provide a seamless end-to-end tech stack and launchpad for web3-enabled projects, memberships, and communities.
More specifically, the diagram below outlines the planned integration between GYSR pools and the Tollbooth membership framework:
Why is what you are going to build going to succeed?:
Passage is the leading membership protocol for web3 communities and projects, and GYSR is a mature DeFi tooling platform that has processed over $1.5B in transactions over the past two years. GYSR has also recently invested in and seen rapid growth on Optimism. Overall, we believe there’s exceptional product-market fit in terms of expanding Optimism’s reach and presence for memberships, NFTs, and community incentives.
Is your project likely to bring new builders to the Optimism ecosystem? If so, please describe how:
Yes, both Passage and GYSR have a strong existing presence across a variety of L1 and L2 networks. By integrating with various Passage products, engaging both Passage and GYSR resources, and expanding this fullstack membership toolkit to Optimism, we expect to attract more new builders and users to the Optimism ecosystem.
Is your project likely to improve the quality of developers in the Optimism ecosystem? If so, please describe how:
Yes, by expanding to various Passage products and engaging both Passage and GYSR resources, this will attract more quality developers to the Optimism ecosystem. Additionally, with GYSR being a no-code, secure, launch platform, this helps raise the bar for quality projects on Optimism while reducing burden on development teams.
Is your project likely to improve the commitment of developers in the Optimism ecosystem? If so, please describe how:
Yes, we believe the GYSR+Passage+Optimism experience will be an intuitive, enjoyable, valuable experience for developers. GYSR has recently joined forces with Passage protocol, so we are working arm in arm to build a seamless user experience.
Provide us with links to any of the following for the project:
- Demo:
- Passage Tollbooth: www…loom.com/share/b2f401ccfefe467eb1a170f6d0dba842
- GYSR v2 demo: www…youtube.com/watch?v=dCNlTnqCm-M
- GYSR NFT staking: www…youtube.com/watch?v=JKyq5Zgz7kU
- Websites:
- www…passage.xyz/
- www…gysr.io/
- Twitter:
- Passage: twitter…com/passageprotocol
- GYSR: twitter…com/gysr_io
- Discord/Discourse/Community: https:// discord.gg/74SnuTM8
- Github: www…github.com/gysr-io/
- Technical/Economic Documentation: www…docs.gysr.io/
Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.):
GYSR has seen a spike in Optimism activity over the past several months and we expect the advanced capabilities from GYSR+Passage integrations to help to continue this upward trajectory. Some overall GYSR metrics include:
- Project TVL: $3M (down from high ~$50M)
- Transactions: To date, GYSR has handled over $1.5B in transactions and $26M in rewards across all networks (mainnet, polygon, optimism)
- Users: ~6k overall, 225 on Optimism (up from just 13 Optimism users in December 2022)
- Reference:
- www…thegraph.com/hosted-service/subgraph/gysr-io/gysr
- www…thegraph.com/hosted-service/subgraph/gysr-io/gysr-polygon
- www…thegraph.com/hosted-service/subgraph/gysr-io/gysr-optimism
Who are your competitors?: xToken Terminal (only in Uniswap v3 LM)
What differentiates you from your competitors?:
The end-to-end tech stack of Passage - where the project’s overall ambition can be comprehensively solutioned, instead of piecemeal task solutions - and the foundation of the GYSR platform combine to bring a unique and highly complementary combination of incentive and membership capabilities spanning both DeFi and NFT use cases. The two groups have worked together closely for over a year as technology partners and just formalized the relationship by having GYSR become a part of Passage Protocol. Prioritizing building solutions on Optimism would be a win-win-win solution for all parties.
Will your project be composable with other projects on Optimism? If so, please explain:
Yes! Passage and GYSR are each focused on tooling to enable other projects and communities, so building more solutions on Optimism will inherently benefit other projects on Optimism.
Moreover, both GYSR (incentives/distribution/rewards) and Passage tollbooth (subscriptions/memberships/superfluid) are already composable tools for many projects and use cases in the Optimism ecosystem. By integrating them, we will continue to expand this flexibility and provide a larger variety of robust solutions.
Team
Who are your founders?: Zac Choi, Meral Arik, Josh Peters (Passage) + Devin Conley, Alex Koren (GYSR)
What makes your founders well-positioned to accomplish your goals with this project (1-2 sentences on each)?:
Strong experience in overall project/company execution, integrations, web3 partnerships, marketing/sales/growth.
Tell us about the rest of your team (if there are more teammates):
The broader team has combined decades of engineering, R&D, delivery, and product expertise across crypto, fintech, and consumer rewards.
Is this your first Web3 project?: No.
If not, what else have you built? (Share links, Github repository, or any other useful information.):
The GYSR team has built and deployed v1 and v2 of the GYSR platform, with v3 coming soon. Some Passage products include:
- Dynamic NFT API - Build custom membership NFTs that evolve with member engagement
- Customs - Add advanced wallet, token, and metadata verification to authentication and rewards
- Loyalty Ledger - Spin up a scalable on-chain point or badge system on any EVM-compatible network
- Tollbooth - Collect subscription payments & aggregate dues data across fiat, crypto, and NFTs
- Gridiron - Automate your membership program with web2-to-web3 workflows
- 3DP - Unify and activate on-and-off chain membership data for CRM, Telemetry, and Automations
I understand that Builders grants are subject to a 1 year lock-up, as explained further in this post: Yes
Is your project funded? If so, provide an estimate of how many months of funding runway your project has: ​​
No, GYSR is community driven and self-sustaining. The project is funded through usage of the platform and ecosystem grants
Grant Request
What is the size of the grant request? (50k OP max): 40k OP
How do you justify the size of the grant?
The sheer number of integration possibilities between GYSR’s v3 functionality and Passage’s suite of products offers a long roadmap of value to the Optimism ecosystem. We believe that investing in more established tooling capabilities will benefit the entire Optimism ecosystem, and see this as truly a co-investment of time and resources to drive the ecosystem forward.
Roadmap
Describe in discrete steps your plan for accomplishing your project:
- Build smart contract “actions” and callbacks framework for Tollbooth protocol
- Build smart contract controller for GYSR pool to set earning rate for a user as a function of membership status updates
- Build factory contracts for easy configuration of membership reward system
- Engage security auditor for review of new smart contracts
- Integrate membership reward system into webapp UI for easy usage
Please provide any additional information that will facilitate accountability:(smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.)
Optimism multisig wallet: 0x462cc7EA60a364410FeF8c621b73a1f1c78De513
Does your plan depend on the receipt of OP tokens?:
Yes - while GYSR v2 is already on Optimism and v3 will be, prioritizing the integrations and support work for building GYSR/Passage products on Optimism is largely reliant on receipt of OP tokens. This includes the costs of an audit to ensure and prove we are building safe, secure, reliable tools!
What is your plan for the use of the OP token after the 1 year lock-up?:
Our plan is to use the OP token to incentivize and reward those who contribute to our GYSR/Passage Optimism integrations and support. We support the 1 year lock-up of these tokens as we believe it will only help to ensure that projects are building solutions with the long term outlook of Optimism in mind and will lead by example in this regard. Additionally, the OP token will go towards subsidizing costs of the audits for our integrations.
We plan on using the grant to retroactively fund the activities required to deploy these integrations. Understanding that the OP funds from the grant come with a 1yr lockup, we believe that this fronting of the funds required to build these tools until after the lock up period ends shows our commitment to building on Optimism.
Our OP distribution would follow the below breakdown of the 40k OP:
- Audit - 50% (20k OP)
- Development (core dev, operations, testing) - 40% (16k OP)
- Marketing (social media campaigns, posts, documentation) - 5% (2k OP)
- BD (partnerships, strategic initiatives) - 5% (2k OP)
Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project during the 1-year lock-up period.
We will provide regular development updates on the integrations. We will leverage the active Optimism community to help us prioritize the value of product integrations, offer feedback as users and even beta testers, and continuously iterate to develop the best products possible.
Our benchmark milestones will be to:
- Provide public monthly status updates
- Offer private beta testing access for OP community
- Onboard 5 projects to begin integration by the 12mo mark
The benchmark milestones of private beta testing access for OP community and onboarding projects to begin integrations will both draw more developers to the Optimism ecosystem, while these milestones and the final products will draw both developers and end users to the Optimism ecosystem.
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.
Our critical milestones will be:
- 3 months: build actions framework for Tollbooth protocol, build smart contract controller action for GYSR pool - to be verified via source code
- 6 months: build factory contracts for simplified configuration - to be verified via source code
- 9 months: security audit - to be verified by publishing the audit
- 12 months: integrate membership reward system into webapp UI - to be verified via a deployed, usable webapp
Optimism Relationship
Does your project solve a problem for the Optimism ecosystem?:
Yes, similar to other ecosystems, Optimism is a young, rapidly evolving space. There is a massive demand for modular and reusable building blocks that can help to accelerate development speed, increase interoperability, and improve safety.
How does your proposal offer a value proposition solving the above problem?:
We solve these problems for projects by providing easy to use tools so that they can focus on their core missions. In particular, we believe the membership space is one of Optimism’s major growth opportunity areas and is one of our specialties.
Why will this solution be a source of growth for the Optimism ecosystem?:
The integration of GYSR+Passage on Optimism will help solidify Optimism as the preferred ecosystem for membership incentives, community growth, and overall as a hub for activity.
How committed are you (and your team) to building on Optimism?:
The GYSR team has enjoyed building on Optimism thus far, and is excited to invest more time and energy into the ecosystem while joining forces with Passage.
Is your project Optimism Native?:
GYSR is multi-chain, and supports Optimism native projects.
Confirmations
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: Yes