Project Name: GYSR
Author Name: Alex Koren
Number of OP tokens requested: 400,000
L2 Recipient Address:
Relevant Usage Metrics: (TVL, transactions, volume, unique addresses, etc.)
Transaction Volume: $1.5B
Unique addresses: 5,000+
Optimism alignment (up to 200 word explanation):
GYSR is a platform for on-chain incentives that’s compatible with any ERC-20 or ERC-721 tokens. As the Optimism chain is growing, we believe it’s extremely valuable to have open source platforms and no-code solutions for fair token distribution, liquidity incentives, and governance rewards.
Proposal for token distribution (under 1000 words):
GYSR’s goal is to help make Optimism an easy choice for developers and communities to deploy new projects or expand their current ecosystem beyond Mainnet. In addition, we need to ensure that the communities surrounding these projects have the correct incentives and confidence to move to Optimism to take advantage of the infrastructure. We’d like to use the allocation in four ways:
- Provide bonus incentives on top of deployed GYSR Pools
- Kickstart migration of GYSR over from our other supported networks to Optimism
- Cover minor development costs for client-side integration
- Offer small grants to projects deciding between our other supported networks and Optimism
How will the OP tokens be distributed?
- 35% to set up incentives for 3rd party Pools deployed on GYSR (on Optimism) for distribution over a year
- 35% to set up incentives for GYSR token migration to Optimism over a year
- 25% to cover development and maintenance cost of Optimism-specific GYSR tech
- 5% as incentives for projects to use Optimism over other networks as part of their deployment
How will this distribution incentivize usage and liquidity on Optimism?
GYSR is designed to make liquidity mining and other on-chain incentives extremely easy to set up. By offering side-by-side rewards and incentives specifically on Optimism it will make it encourage users to move their assets to Optimism for better return rates. Since GYSR acts as an add-on for many projects, this means that people coming to GYSR are not only leveraging the GYSR platform - They’re interacting with DEXs, liquidity protocols, and more. That means users having breadth of usage on Optimism, not just on a single dapp.
Why will the incentivized users and liquidity remain after incentives dry up?
The incentives we’ve described are only augmentation to the GYSR Pools that are created. Come for the OP and incentives, stay for the projects that you engage with along the way. GYSR is a hub for many projects to provide their distributions and users who come to GYSR use it as a source of discovery. Landing on the platform means connecting with projects you know and finding new ones to engage with as they launch which is not dependent on the OP being provided temporarily.
Over what period of time will the tokens be distributed?
We’ve planned for 1 year as we believe it’s a long enough time horizon to keep users engaged, but short enough to offer meaningful returns.
How much will your project match in co-incentives?
GYSR will be offering up 100K GYSR tokens in incentives for distribution through the GYSR platform on Optimism.