[READY] [GF: Phase 1 Proposal] ParaSwap

ARCHIVED & OLD Missions Governance Fund: Phase 1
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@Oxytocin can you please provide a TG handle or other point of contact so we can get in touch with you about grant distribution?

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Hey everyone, as requested by the Milestone Council ( cc @PGov ), the following is an update on how the grants have been used since and the planned next steps.

In the initial proposal, 450 000 OP were allocated in the following categories:

  • 15% (67 500) allocated for DexLib integrations. This refers to integrations of new liquidity sources onto optimism using the DexLib libraries of ParaSwap
  • 35% (157 500) allocated towards protocol-owned liquidity on Optimism.
  • 50% (225 000) for grants in dApp and app development using ParaSwap and Optimism integrations

After the proposal was approved, ParaSwap DAO was charged with allocating the OP accordingly. The DAO passed various proposals , including the deployment of PSP and a PoL pool on optimism ( Snapshot ) and enabling multichain staking for PSP( Snapshot ).

While these grants deployed almost all of the liquidity for PoL on optimism and created some proposals around development, the ParaSwap Foundation noticed that only one proposal had been pushed related to development, and all of the DexLib allocation was still available. Feedback from developers noted that they preferred working with the Foundation directly as opposed to going through the DAO process, which is why a proposal was passed to enable to Foundation to facilitate incentives. Five months after, an update was shared by the foundation regarding the developments and integrations done since the facilitation.

As of the time of writing, the final allocations of the grant left are as follows:

  • 70,237 OP are still available for Facilitation by the Foundation. These will be focussed on continuing integrations using DexLib and Development in Optimism mainnet.
  • 18 000 OP remain earmarked by a DAO grant application for gas cost reduction ( Snapshot )
  • 29 764 are reserved for Protocol-owned liquidity portion of the grant.

ParaSwap will continue to work on utilization of the grant in the most effective ways possible, and only consider additional grants from the Token House were it to be for uses not covered by the previously earmarked categories.

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