[READY] [GF: Phase 1] Hundred Finance

The OP emission schedule seems cumbersome, is it not easier to simply setup a mutli-sig wallet, and add an OP community rep to release the funds that way?

Hi @TerraBellus , thank you submitting your proposal.

You TVL on OP chain is $410K and token request is around $150K which seems reasonable, this might give your platform a jump start with liquidity.

Help me understand this, you will only distribute second weeks 25K OP token when first week TVL is achieved, right ? What are you planning to do with the OP token when the said TVL is not achieved during that time frame?

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This plan incentivizes usage and liquidity. It also holds itself accountable through milestones. @TerraBellus - If you don’t hit your TVL targets, will you return the tokens? I would support this regardless of your answer simply because noone else is making promises like this, so i wouldn’t want to hold you to a standard above others. However, if your answer is yes, than the structure of this proposal is easily the most aligned with the best interests of Optimism. (in this small token holders’ opinion).

Thank you for bringing this up (you too, @Justin).

If the TVL target for the first four-week period is not met within that period then we would not begin distributing the next tranche of 25k OP. If we got over $1m USD TVL during that period (at any point according to DefiLlama), then the next tranche would be released. This approach would be maintained during each subsequent four-week period.

The way we look at it, unless the OP emission is contributing to key performance indicators then we don’t see that maintaining the distribution would have merit. In which case, we’d reach out to the Optimism team to discuss returning the OP.

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@TerraBellus That’s great! Solid proposal, looking forward to voting for this!

The way we look at it, unless the OP emission is contributing to key performance indicators then we don’t see that maintaining the distribution would have merit. In which case, we’d reach out to the Optimism team to discuss returning the OP.

Just from this alone I can see a lot of integrity in your team and am inclined favorably towards your proposal.

The ask sounds reasonable for your TVL and it seems it will all be used as emissions to incentivize LPs in in 12 tranches over a whole year, right?

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Thank you for the explanation. You will have support, will write a proper response to all my approval/rejection by Monday.

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Yes, this is approximately correct, though 48 weeks total (12 x 4 weeks) rather than the 52 weeks that make up a year. I’ve updated the “Over what time period…” answer to reflect this and avoid potential confusion.

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this is not live for voting in this phase, right ?

We moved it to [READY] on the 24th so we’re hoping for it to be voted on in the next cycle.

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Voting in favor. Reasonable ask and hundred finance is a relatively proven protocol - this should help them establish solid usage on Optimism. Good chance users stick around as HND emissions will be ongoing.

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I am going to be voting in favor.

I like the targets the team has set, the ethos of the proposal (setting performance indicators which if not met they will return the OP) and the fact the amount is quite reasonable for the TVL and duration (2 years)

Also the fact it has co-incentives by the team.

Voted: Yes
Usually I am not a big fan of just LP rewards but this proposal is also applying different approach just like Kromatika.

  1. Milestone based incentive
  2. Duration of distribution is good with respect to number of token requested
  3. Co-incentive are provided

Suggestion:
For proposal focusing on LP, I would encourage them to match the incentive 1:1

I will be voting YES, I like the approach to the milestone incentives and the distribution plan seems okay.

1 Like

I like that the incentives are based on KPI results, hope more projects consider it. Checks all the other boxes - reasonable ask, longer term outlook, co-incentives etc. However, I’d argue 12%-30% APRs is more of a sign of lack of adoption - I hope to see higher TVLs and APRs stabilize at a sustainable rate.

I am not a delegate, but I am an active member of the DefiLATAM and OptimismESP community.

Overall the proposal is reasonable and the distribution of OP tokens based on TVL and metrics seems very transparent to me. Also the protocol in a period of about 3 months has acquired a TVL of +$380k in Optimism, this gives me the guideline that they are doing a good job and surely with the allocation of OP tokens they will do so as well.

I’m voting yes on this proposal. There is already some traction and I really like that there are TVL milestones for the distribution of funds. This is a setup I would like to see more projects include in their proposals.

Vote:Yes

The hundred finance team aligns themselves greatly with optimism and they have shown this behavior with their promise to return the OP tokens if they identify that the extra OP tokens aren’t contributing to an increased TVL.

It is a reasonable request of 300k tokens and they have been active on Optimism for a few months. Albeit there is only $400k on Optimism they have shown signs of success and this grant can help boost TVL.

I voted YES :white_check_mark: for this proposal.

Project value: Strong, the team shows strong integrity and alignment with OP from the proposal. Although never used Hundred Finance I have heard of it so seems to be a proven project

Amount: Good, amount requested is reasonable for the size of the project

OP distribution: Good, I like the tiered milestone system :+1:

Piling on to say that we’ve worked with this team, and the quality and thoroughness of this proposal match the thoughtfulness with which they build and partner with others. Wouldn’t have expected anything less.

Think this is an obvious proposal to support.