I just wanted to share our experience on how amazing was our experience with Velodrome. Velodrome was the first project we dealt with when coming to Optimism, and not only they were super helpful in helping us understand better how to join the community, but they also been extremely supportive in brining $MIM liquidity.
If it was not for velodrome, I highly doubt we would have ever been able to deploy on Optimism!
On behalf of the Abracadabra team, I dont think there would be any proposal more appropriate than this.
I was talking about a future scenario if the proposal is approved, apologies if itâs poorly worded.
If the vote passes, I would expect significant increase in activity on Velodrome & the wider Optimism community versus what has come before. If all I see is status quo or mild growth, itâs not good enough for a repeat grant.
Perhaps better wording would be âit would have proven to not be good enough for a repeat grantâ
On behalf of the Lido Finance team I want to share how impressed we are by the level of detail provided by the Velodrome team in their proposal. Totally aside from the merits of the proposal (which we believe are significant) it is really exciting to see proposals taken so seriously be DeFi protocol teams. Iâll be sharing this one as an example to other protocols seeking grants and partnerships with Lido going forward.
Lido fully supports this proposal. As many have attested to, Velodrome has been a great advocate and resource for the Optimism ecosystem. Theyâve been super helpful to us as we planned the migration of wstETH to Optimism and have proven to be reliable, smart partners to us so far.
In case it is helpful - I offer Lido Analyticsâ Dune dashboard for wstETH on Optimism: wstETH on Optimism
We encourage the Optimism community to approve the Velodrome teamâs proposal and have faith that their work in supporting the growth of the Optimism network will be worth every penny.
This is a difficult vote and I am conflicted about it. I will be voting against it for now though I am quite torn.
Cons
The amount asked is huge. They are asking for $4m $OP
They already received $3m $OP back in July
We perpetuate the unsustainable cycle of yield hunting by making people move to optimism to get extra incentives with the foundation footing the bill.
Pros
The project is definitely a good one for optimism. Most protocols that have worked with velodrome have only good things to say about them
I have used velodrome. Pretty smooth experience. Definitely good for the ecosystem
They responded to most feedback here in the forums.
Just like @polynya stated I would like to see velodrome without incentives for a bit to see how such a protocol can stand on its own without someone else injecting artificial yield to attract users.
At some point we really need to consider sustainability of the ecosystem.
I think velodrome is really really cool, and this is a fantastic proposal, but I chose to vote against this proposal for similar reasons as Lefteris.
The main thing is that 4m $OP (even if it is broken into 2 parts) is just too large of a proposal, despite that, from the metrics, it is a totally legitimate ask. I think @polynya nails it here:
It would be good to see the $OP in our coffers focus more towards onboarding new projects with diverse users outside instead of bribing more LPs that will likely leave when the incentives dry up.
@tao can you provide a Telegram handle or other contact method so the Optimism team can get in touch about paying out this grant! Feel free to comment on this thread, DM, or email palash@optimism.io