[READY] [GF: Phase 1 Proposal] Raptor

Hi @krzkaczor, thank you for taking the time to review this proposal.

Public goods such as validators can be fairly compensated for provided security. Otherwise there would be little incentive to do so. Validator client software is open-sourced and staking is a public good for the Ethereum ecosystem. The Ethereum foundation states that here.

Project: Raptor is supporting the network by providing decentralized nodes hosting validators. This is different to staking pools like Lido and Rocketpool. Both are important, however in order to improve decentralization of the network, there should be multiple types of clients and systems to reduce the chance of systemic attack.

We believe this modest grant will help signal to other communities that rely on Ethereum, they are willing to support the network. Whether this is through our grant request or through a retroactive airdrop to incentivize/reward validators, that’s for the OP community to decide. In return for this grant, we would use 50% of the validator rewards to buyback and burn OP tokens indefinitely.

Team: The core team of Raptor is comprised of talented individuals with backgrounds in crypto, cyber-security, UX, behavior, and gaming. I have a solid reputation online and I am a contributor to other protocols, as explained in an earlier reply here. You can find more information on the team in the Raptor gitbook available in the proposal.

In regards to anonymity, I have been part of the crypto “scene” when there was only bitcoin. Well before Ethereum existed and place a high premium on remaining anonymous for obvious reasons. It is interesting to see a new wave of crypto adopters who prefer people doxx themselves and others, both of which have never been on the receiving end of a coordinated hack or a wrench attack.

Token amount: The amount requested changed as a result of OP tokens losing half its value within the time this proposal has been live.

Token “dump”: Tokens are used as security for a collateralized loan to fund the validators. This means no OP is sold or “dumped”.

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Thanks for a quick reply!

Re team: anon team is not a problem at all (I just stated a fact), the problem is the lack of verifiable track record (think about YFI’s banteg vs a random anon).

Re token “dump”: ah, got you. However, it’s not clear if there is a defi protocol right now that would allow you to borrow using OP as collateral and have sufficient liquidity :thinking: Also by doing so you’re making a bet on ETH/OP price ratio in the future.

No worries. Interesting thing about your example is that when I bought into Yearn back in 2020 banteg and the other anon devs we’re not well known :grinning: however I appreciate your point of view. All the best

Snapshot vote - Not passed