Project Name: Raptor
Trading Volume on Uniswap (30d): <$1M. MCap: ~35M. We just launched on Uniswap! (fair launch).
This proposal seeks to realize Optimism’s Vision in supporting public goods such as Validators Nodes which benefits Optimism, Ethereum, and the Collective as a whole. This is why Optimism is Granting 100% of centralized sequencer profits to Ethereum protocol development, because it is a core part of Optimism’s ethos.
Raptor is an Ethereum infrastructure DAO focused on maintaining ETH2 Validator Nodes, an essential public good, by supporting the infrastructure to onboard the next wave of users into Web3. We believe the open source roots of Ethereum encourage communities to support each other and support the network.
Optimism is a layer 2 chain, meaning it functions on top of the Ethereum mainnet (layer 1), and as such will rely upon this infrastructure once Ethereum 2.0 rolls out. As a Validator we are responsible for storing data, processing transactions, and adding new blocks to the blockchain. This keeps Ethereum secure for everyone and in return earns ETH.
ETH will be used to buy back Optimism Tokens from the open market on an quarterly basis, using 50% of the Ethereum Validator rewards.
We believe our project aligns itself with the Optimism ethos that healthy public goods create a thriving and valuable ecosystem.
We will use the allocation to help fund 10 Ethereum 2.0 Validator Nodes. We are seeking support from other communities to help us grow a network of Validator Nodes funded by the wider Web3 community. We believe this is an important step in ensuring Ethereum stays a truly decentralized network.
We will buy back Optimism Tokens from the open market on an quarterly basis, using 50% of the Ethereum validator rewards, and use the other 50% to fund more validators. We will verifiably burn the OP tokens and report these activities on a quarterly basis which will be available in our Gitbook.
Over time, the process of burning OP Tokens will reduce circulating supply, impacting its value. As the token value increases it will drive more usage and liquidity on Optimism.
As long as the Ethereum network is active, ETH Validator rewards will be ongoing, and used to buyback and burn Optimism tokens.
Last year, Ethereum implemented a transaction fee-burning mechanism which removed 1.3 million ETH from the network making ETH a deflationary currency, which will increase in value over time. As ETH appreciates, we will be able to acquire more OP tokens to burn, courtesy of all Ethereum network users.
This activity will reduce the OP token supply over time, impacting price and encouraging more users into Optimism.
We don’t. The $OP is being collateralized into a loan that will fund the Validators. We expect these Nodes to be running within 3 months.
We are seeking funding from other communities, however at the moment we aren’t able to monetarily co-incentivize or we would have already! We believe providing Ethereum Validator Nodes are an essential public good and seek Optimism’s help in achieving this. We look forward to your support.