[READY] [GF: Phase 1 Cycle 3 Proposal] Infinity Wallet

@linda from the voting guideline it mentions that a 51% YES proportion is required, meaning abstaining has the same effect as voting NO in diluting this yes %. If my interpretation is accurate then your voting of abstain would be the deciding factor since you flipped from majority YES of over 51% to now 42% yes.

I had assumed that abstain would not be counted in the voting total, I will check with the Optimism team on how this is counted as my intention was not to sway this in a direction.

I also don’t think it’s fair for you to say that many of these delegates above voted no because of wrong info or lack of review. For example, you specifically stated that @lefterisjp voted no because he is biased with his own project when they are doing separate things. I’m not a fan of this accusatory style of communication toward others and hope that we can work towards having a more open conversation with constructive feedback.

I am not referring to only this proposal, I am talking about the majority of proposals. There is a clear issue of delegates not researching, showing a lack of understanding or simply not asking questions before voting, leading many to vote based on an incomplete or assumed basis. As an example I will point out on this project alone some cases:

  • Quixotic reason “Proposal K: Infinity Wallet - No, we’d like to the Optimism integration happen first.” - Their decision was to vote NO because they thought this project didn’t support OP when it does. I actually downloaded the wallet to try it a few days back and it does support OP. An example of not asking questions, reviewing correctly and presuming.

  • lefterisjp - He has a direct conflict of interest with this project as his project is similar to it in terms of what it offers (Portfolio Dashboard, Transactions, NFTs, Stats and etc…). This is why his decision to put NO is biased, then to add on top they replied to him and he ignored their reply which defunct his own comment.

In this project alone if you changed Quixotic which voted based on wrong information and lefterisjp if he done the correct thing and abstained, then this project would be 9.5 million YES to 2.4 million NO. This is just based on 1 delegate presuming and another having a conflict of interest.

My point is that many delegates have based their decisions off of presuming, showing a clear lack of reviewing proposals or asking projects questions. The other issue is that there are far to many projects applying and its only going to grow, leading to even more of these issues. There needs to be a committee in place to decide on proposals that are ready and also there needs to be rules set out which can be enforced to ensure delegates are kept to standards.

1 Like

Quick update from the Optimism team in Discord:

"Ok – Operating Manual was drafted with the assumption that there would be no option to explicitly vote “abstain” reflected in snapshot totals. We will push a minor version update to the Manual today to clarify:

Approval Threshold (minimum % of votes cast to approve relative to total votes cast)
to
Approval Threshold (minimum % of votes cast to approve reletave to total non-abstaining votes cast)

In the meantime, you can leave your vote as-is. Votes where yes votes make up 51% of yes+no votes will be considered passing."

1 Like

Infinity Wallet is a non-custodial wallet where your seed phrase is your wallet. You can generate your seed phrase while offline or import it from/to other non-custodial wallets such as Trust wallet or Metamask, and it is stored locally on your device encrypted. Additionally you can access all your private keys in your wallet to export those for use in another wallet if desired. Your seed or keys never leave your device which you can easily verify by monitoring the wallets network usage.

We respect your preference to only support open source projects, however your comment that Infinity Wallet is a custodial wallet is incorrect.

Hi linda, thanks for your feedback.

We would like to ask have you tried the Infinity Wallet? We are the first platform of our kind on Desktop to provide access to the world of DeFi and Web3, with the majority of our users coming over from Web3 browser extension wallets and loving our much more user friendly experience.

Regarding provable metrics/evidence of Infinity Wallets success, please see the following:

Regarding not being open source, this is quite normal for premium platforms focusing on innovation and user experience. Being open source is far from a guarantee that the platform is safe to use, and comes with additional problems such as enabling cloning and phishing, working against our goal to provide the most user friendly and safe environment for all kinds of users. Additionally I don’t think this would be a disadvantage to our proposal as we have already integrated Optimism support and are not asking for funds for development, but to grow the Optimism ecosystem with additional awareness and providing rewards to developers that build on optimism and integrate with us.

1 Like

Thank you to all that provided your feedback and/or support for our proposal!

The first vote was very close and it was great to see the vast majority of delegates voting Yes, with only a few large delegates flipping the vote in the last hours. We have taken on everyone’s feedback and have updated the proposal with additional information, provable metrics and clarity, which we hope will satisfy any previously uncertain delegates into voting Yes in the next cycle.

Since the initial proposal we have also launched live and announced our Optimism support, and we welcome everyone to try out our unique experience with their favorite Optimism DApps. Remember, as a non-custodial wallet you can easily import your existing wallet via its seed phrase from most other wallets.

We have left the title as “READY” as we have had support from multiple delegates, and also have over 0.005% OP delegated to ourselves. If there is anything else required to be entered into the next cycle please let us know.

3 Likes

Hey @InfinityWallet I hope that in future they will give us an option to see the edited changes but as of now I dont know what has changed from last proposal.

Could you please share the changes you have done in form of a comment? Just to make it more visible to all of us. Thanks.

1 Like

Snapshot vote - Not passed

I voted YES :white_check_mark: for this proposal

Project value: Strong, wallets are the building blocks for the entire space and the main factors for chain and cross-chain usage. Another plus is they are providing a unique wallet solution, this project can drive long term value to OP :+1:

Amount: Good, for the size of the project and usage of funds

OP distribution: Good, majority is for dapp developers integrating on OP and the amount for incentives will bring awareness to OP and like Biconomy rewarding bridging will incentivize more people to onboard to OP.

Btw @InfinityWallet you have my deepest respect in regards to how you handled last round with the behaviour of some delegates

2 Likes

Forgot to chime in here during the last vote it seems but I’ll vote Yes (again). Distribution of incentives seems aligned to further the growth and usage of Optimism in my view.

2 Likes

Hello @OPUser, I have added to the bottom of the proposal some notes regarding improvements/changes to the proposal. Additionally, you should be able to see the edits by clicking the orange edit icon in the top right of the original post.

1 Like

As per the last round I will be voting against this proposal.

Optimism should not support a closed source project. And with half a million $OP no less!

1 Like

Thanks for the feedback. Although as an electron project you can actually quite easily view the source code!

Also this proposal is not about supporting the Infinity Wallet but about supporting the growth of the Optimism ecosystem in line with the Optimistic vision. Restricting Optimisms avenues of growth based on arbitrary preferences, rather than judging each individual proposal based on its prospect for growing the ecosystem could be seen as counter to this goal.

Open-source, closed-source or partially open-source really should have no effect since the proposal is not to fund our development.

TIL. Thanks.

Voted: Yes like last time.

1 Like

It’s for development of your community/user and integrations and features in Optimism of your product. Quoting your proposal:

I don’t want to support a closed source project and I strongly believe that Optimism should not be supporting closed source projects which is why I voted as I did.

Please don’t DM me asking me why I voted against. The entire discourse should be public.

I disagree with your assertions on what you think Optimism should fund and as a delegate I am entitled to vote according to my beliefs.

1 Like

@lefterisjp dude, your conflict of interest with this proposal is on fire :fire:

I downloaded your platform and it offers similar stuff to this project, the fact you have not ABSTAINED and that the comments you are making towards it are on the offensive/attacking is not a good look.

Btw Optimism outlined what the aim of the funds is for, and this phase is not only for open source projects which actually fall more under the Retroactive Public Goods Funding as public goods. The actual aim of the current phase is to spur sustainable growth and activity on the Optimism network to kick start the ecosystem with strong projects and companies.

1 Like

I will be voting YES again for the same reason as previously.

I do not have a conflict of interest with the proposal. At this point you are simply making things up.

I am not going to be engaging with you any longer in the forums since you have a combative attitude if the counterpart of the conversation does not agree with you. If you don’t like how I vote don’t delegate to me and ask people to not delegate to me.

2 Likes

What does “unparalleled security” mean exactly? Is there sth to back that statement?

Checked the page and didn’t find any detailed info - googled a bit and found Closed Application · Issue #1483 · ethereum/ethereum-org-website · GitHub which doesn’t answer any questions as well.

On a side note @Cryptoz, the conflict of interest accusation against lefterisjp is a bit weird.
Last time i checked https://rotki.com/ is not a wallet and does not allow you to do any transaction.

1 Like