[READY][GF: Phase 1 Proposal] Biconomy

I’m glad you find the Dfyn feature useful, it’s powered by Biconomy!

We’re open to partnerships with DEXes to have similar Gasless Swap features on Optimism, interested DEXes can get in touch with me, my twitter is linked in the Proposal. We also have something exciting coming on Hyphen in a week or so that’ll allow users to get OETH, keep your eyes on Biconomy twitter for the announcement!

For the Grant distribution, here’s the Biconomy DAO Grants page
The plan is to follow our Governance process for this distribution, you can find the process above.

I’m not sure how the Optimism Community can get involved with the grants. I’d think if this grant is passed to us, the ownership is on Biconomy to allocate as per own Governance process. Would like to know if you have any other ideas that may work well.

I voted YES :white_check_mark: for this proposal.

Project value: Strong, bridges are the building blocks for cross-chain and will allow easier onboarding of users.

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

OP distribution: Good, majority is for developers integrating on OP and the amount for incentives is going to a good use for gas fee rebates.

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Hey rhic with the 500/750k and a first look the proposal seems to match similar proposals from Hop so without having gone into too much detail into your protocol it would not seem like a difficult ask.

Would also be interested to see how could optimism governance help in grants dispersal. Though I do realize this may not be easy.

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I love how this is a very unique proposal of funds going to both incentives as well as gas grants for dapps.
It’s like a two-in-one.

What I want to know actually are a few points:

  1. What type of dapps would want gas grants? And why?
  2. What dapps have you given gas grants to before on other chains?
  3. How long would a gas grant to a dapp on Optimism last for?

Im pretty much in favour of this, just would love to know the above.

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Thank you, looking forward to your support on this!

On the Governance, I did spend some time thinking on it and in the various Optimism Governance channels. It seems Delegates already have quite a massive task on their hands with these grants, I don’t see how we can effectively involve them for Biconomy’s Distribution. Note that most of these will be relatively small grants that will be given out.

Let us know if you, or the Optimism team, have any thoughts on how we can involve Optimism governance in the further disbursal of these grants

Thank you, this proposal is very much aligned with how Biconomy has been doing grants and incentives, and I’m happy to see how similar a vision we share with the Optimism Community.

To answer your questions:

  1. Any dapp could use a gas grant. Dapps would seek a gas grant to try out Gasless without spending too much on it, before they decide their long term gasless strategy
    Gasless is a product that enables dapps to sponsor the gas fees for their users to give them a Gasless experience. This simplifies the UX, simplifies onboarding, and can be used as an incentive mechanism as well. I’ll give a few examples for what you can do with the product-
  • Decentraland have made their NFT Marketplace on Polygon completely gasless using Biconomy. This makes onboarding smooth for new users, and encourages more activity on the marketplace that generates profits for the Decentraland DAO.
  • Zed Run, using both Gasless & Hyphen has made it such that users can instantly bridge over their ETH from mainnet to Polygon and then play the game which is gasless, meaning their users never need to think about MATIC. Smoothest Onboarding experience.
  • Dydx enabled gasless onboarding from Ethereum to Starkware, incentivizing users to make large deposits to get gasless benefits. Perfect example of incentive mechanisms using gasless, and how you can enable gasless even on Ethereum mainnet
    None of these projects got gas grants, of course, and they paid for the gas costs of their users. What gas grants will enable Optimism projects to do is try out Gasless and see for themselves the growth such a feature can create for them, before committing to paying for it long term.
  1. We’ve given gas grants to Cask, Metapass, Method Metaguild, all on Polygon. There’s a few more projects who we’re working with on this.
  2. Our aim with gas grants has been to support ~20-40k transactions for the project with the grant. Our grants on Polygon have thus been quite small, but we’d need to give larger grants on Optimism due to higher gas costs. We expect adoption to pick up more after the Bedrock upgrade makes transactions cheaper, and more and more projects see the value in streamlining their UX by going Gasless.

I hope that answers your questions, please do go through some of the case studies I’ve linked, and try out some of the dapps using our infra, like Dfyn, as pointed out by @DeFi_LATAM_Joxes !

I am supporting Biconomy! This project built for the community + useful integration for crosschain interaction. +8k from me)

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Voted: Yes

  1. Most of fund are going towards bridging and ecosystem growth on OP
  2. Token distribution duration is good
  3. Liquidity mining + User incentives = 250k (33.33%)

Assuming they will us 50% of this LP reward, they are matching co-incentives with 150K Bico which is more in dollar value so happy to support this.

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Absolutely, with this update you will have my support too

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

It seems like a good value proposition to me, but considering that in Optimism there are some bridges with similar strategies like Hop and Connext (and more) I would reduce the requested amount to 450k. Great project Biconomy I didn’t know about it.

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I support this proposal.

Hyphen is my favorite solution when transferring assets.

The incentives mechanism sounds good to me

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Vote: Yes

Biconomy has a great track record and after diving deeper into your statistics and work with other protocols, it would be great to support this project. Even though the OP request is quite large, we feel that it is a suitable amount since a majority will be spent on the ecosystem and gas grants.

It would be great to see more of yours blogs similar to this in the future that showcase gas savings in projects that use your products as it would help highlight how the OP grant is helping users onboard.

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I’ll be voting yes on this proposal. While the amount requested is high, the team has a track record, it’s already on Optimism, and there is some traction that indicates this could be good for growing the Optimism ecosystem.

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i voted yes :smiling_face_with_three_hearts:
optimism :revolving_hearts:

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This is a reluctant yes for me.

CONS

  • amount is quite high

PROS

  • All of it used for grown of optimism ecosystem and bridging
  • They match co-incentives
  • Well known-team
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We voted yes on this proposal. The Hyphen and Gasless products are useful and already used in flagship products like Perpetual Protocol. Bringing great tooling to Optimism and rewarding developers is a great way to seed the ecosystem.

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[Final]

Voting: Yes

In consultation with our community, this proposal seems reasonable, particularly the gasless feature. Our community also reported being helpful, such as Decentraland, Dfyn. We expect Biconomy to enable such integrations into key dApps in the ecosystem.

  • Contribution: Positive
  • OP distribution: Appropriate
  • Co-incentives: Yes
  • Impact in LATAM: Neutral

Tips: Keep us informed about new gasless feature integrations and let the community express the desire for such integration in favorite dApps and have genuine use for Optimism.

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How about we bring it on Quixotic as well? :wink:

Thank you everyone for your responses and the overwhelming support in making this the most approved proposal in Optimism Governance!

I look forward to continue engaging with the community; DMs are always open to potential collaborations. Let’s make Optimism the L2 with the best UX using Biconomy infrastructure!

Snapshot vote - passed