[Ready] [GF: Phase 1] Rocket Pool

Hi @langers I was thinking a more about this proposal considering potential rejection due to high amount.

Now I believe reducing amount to (by example) 600k in a time lapse of 4 month, this would be enough to later push for a next (2nd) proposal to focus on lending vaults, and continue with the appropriate growth. Let us know what do you think.

Can you clarify if there is any particular strategy in which you plan to carry this out?

1 Like

Hi @DeFi_LATAM_Joxes, thanks for your feedback. We have been workshopping how we could amend our proposal in light of the feedback from the community here. We are considering a simplification of the scope of our proposal to focus on rETH/ETH liquidity, which would be a more efficient use of incentives. Additionally, given that Rocket Pool is likely unable to offer matched incentives, we are open to considering a reduction in the requested amount of $OP, as a reasonable compromise.

By focusing on rETH/ETH liquidity, we should still be able to use a smaller grant request in an impactful way to foster rETH adoption on Optimism.

@langers might have some further thoughts to share regarding this, and we will be sure to keep you updated.

1 Like

Thank you everyone for their feedback.

We have taken on board the feedback and discussed at great length with our community.

We have decided to:

  • Not provide co-incentives
  • Because of this we will be reducing our application to 600k rather than 1mil
  • Review the liquidity allocations

We have chosen to allocate $OP to Balancer/BeethovenX and Velodrome because we feel these options give us the best chance of long-term sustainable liquidity on Optimism. Balancer/BeethovenX is also best suited technically to how rETH works - because of its metastable pool feature.

We look forward to bringing value to Optimism. This grant will go a long way to developing the liquidity required for integrations and thus rETH utility on Optimism.

5 Likes

I appreciate you taking the feedback. With the lower grant request, I would approve this as Rocket Pool gives a good alternative staked ETH besides Lido and promoting competition is healthy. The DEX choices seem perfectly fine to me as it also diversifies staked ETH liquidity among the DEX’s available on Optimism

2 Likes

I would love to see some deep liquidity for rETH/ETH and maybe even some ways to use rETH in DeFi on Optimism. It would be great to have a first mover advantage over the much larger (and less healthy to the staking ecosystem in general) Lido.

2 Likes

Voted:- Yes

Reason:-

  1. supporting this will boost liquidity of rETH on OP chain
  2. Distribution period is reasonable

Cons:-
No co-incentives but its clear from @valdorff comment in this tread that team does not have sufficient fund to do so.

3 Likes

I missed the comment period so won’t make any recommendations, but will support the proposal given the team was responsive to right-sizing the proposal and I generally think Rocketpool is a positive force for the ecosystem / staking as a service offering.

As alluded to by others, it would be great to see future grants more focused on incentives for or marketing of rETH DeFi / general use cases on Optimism so users can earn yield on rETH and do more with the assets (which hopefully drives dedicated users to rETH and to Optimism).

3 Likes

Voted yes - This proposal will drive ecosystem growth. I would prefer if there were matching incentives but I appreciate you reducing the amount requested. Thank you for the well thought out proposal and incorporating feedback!

2 Likes

Access to Ethereum staking on Optimism is essential, and the concession made in $OP requested in lieu of co-incentives is reasonable, easy For. Somewhat unrelated to this proposal, would still like to see some liquidity on Uniswap V3, though.

3 Likes

I’m voting yes on this proposal. I like that Rocket Pool is open source, non-custodial, and already has 1200+ permissionless node operators. I also like that there will at least be a governance vote to potentially provide co-incentives.

2 Likes

Vote: Yes

Rocket pool has a large name and known for being open source and their staking pools. This is a great way to support liquidity in the op ecosystem. The duration of 6 months is a suitable amount of time too.

1 Like

I am going to be voting yes on your proposal.

Pros

  • took on the feedback from the delegates and adjusted the proposal down to 600k OP tokens
  • Rocketpool is a very good project, that tries to promote decentralized non-custodial staking.
  • opensource

Cons

  • Lack of co-incentives, but I find the explanation on the why (no budget for it) sufficient. And really appreciate the transparency.
2 Likes

Voting Yes since Rocket Pool is a quality project and it enables users on Optimism to tap into Eth yield

Value-add: Good
Amount: Okay
Op distribution: Okay
Co-incentives: None

more info given already above in another comment.

1 Like

We voted yes on this proposal. The Rocket Pool team is well established, and we believe this proposal will help grow the Optimism ecosystem by making staking more accessible.

3 Likes

Rocket pool’s success is Ethereum’s success. I have voted yes for it.

2 Likes

thats good awsome project

My vote is FOR
I LOVE ROCKET POOL also if this proposal pass I will create a video content that describes how to make some OP by depositing your rETH and WETH into liquidation pools on Optimism. they are helping individuals also Ethereum

[Final]

Voting: Yes

Currently we see it as reasonable to support initiatives that indirectly diversify the current state of staking options in Ethereum, and Rocket Pool is a good example. Liquidity Bootstrapping is an obvious step and we are grateful that Rocket Pool has taken our considerations into account to adjust the amount requested.

  • Contribution: Positive
  • OP distribution: Appropriate
  • Co-incentives: Not confirmed
  • Impact in LATAM: Neutral

Tips: maintaining rETH liquidity over time in favor of new integrations and use cases is a clear challenge, let us know how we can help (with due pros and cons) in this regard.

3 Likes

Hi fam
Thank you for sharing this :hugs:

YES

  1. Would like to see Rocket Pool gain traction as a competitor to Lido’s sETH as Rocket Pool is much more decentralized as of now. competition is good

  2. Agree that incentivizing rETH will eventually lead to enough liquidity on OP to use as collateral. Additionally OP could become the place to be for taking out rETH loans as liquidity begets liquidity

  3. Hopefully this good faith vote inspires Rocket Pool’s token holders to vote to match incentives

2 Likes