Project Name: rotki
Author Name: Lefteris Karapetsas
Number of OP tokens requested: 190770 (See the budget - work outline section.)
L2 Recipient Address: 0x9531C059098e3d194fF87FebB587aB07B30B1306
Relevant Usage Metrics: Over 10k users, 146k downloads, 88 code contributors … birds love us!
Optimism alignment (up to 200 word explanation): One of the stated intentions of Optimism is to fund public goods. rotki is a public good, as it’s the only opensource portfolio tracker + accounting tool for crypto that protects your privacy and lets you own your data.
rotki at the moment does not support optimism in any way or form. We want to change this and would like to support optimism to the same extent as we support ethereum mainnet portfolio tracking, human readable transactions and PnL report. This will be of great benefit to all optimism users as they will finally have a privacy-first, local-first solution for portfolio tracking and accounting.
Proposal for token distribution (under 1000 words):
How will the OP tokens be distributed?
100% development work of the opensource software. See the budget - work outline section.
How will this distribution incentivize usage and liquidity on Optimism?
It will incentivize usage since users will now have an opensource solution for portfolio tracking and accounting and will be able to benefit from the human readable transactions decoding of rotki also in optimism and have PnL analysis of optimism defi activity and not just mainnet.
As a bonus other optimism projects can check our code and our work and incorporate whatever they need in their project (so long as they respect our opensource license – AGPLv3).
Why will the incentivized users and liquidity remain after incentives dry up?
My favorite question. Because rotki is not a freaking ponzi. We are a useful local application that solves a problem. All our users use us because we are of use to them and they stay because they love us.
Over what period of time will the tokens be distributed?
Since this is for development work we would sell them to cover expenses, but only on a need to pay-basis. We would also be totally fine if the tokens were given to us in batches after completing milestones but in that case the token amount would have to be adjusted for the $ value of work done.
How much will your project match in co-incentives?
Our project has no token or any other ability to provide co-incentives.
In this section I would like to give a detailed budget spending proposal as we are asking the tokens for development and the optimism community should know how they are going to be spent and why.
We are going to be using $ value here.
We assume a weekly dev salary of $2,084.
All these estimates also include a 40% markup on top for any extra work we may need to do, research but most importantly all other expenses these will incur for us such as taxes. rotki is incorporated in Germany and pays taxes there.
Backend: 2 devs 4 weeks
Backend: 2 devs 2 weeks
Frontend: 1 dev 2 weeks
Implement transaction decoder system for optimism and some sample decoders for biggest optimism defi protocols
Backend 2 devs, 4 weeks
Frontend: 1 dev, 3 weeks
Backend: 2 devs 3 weeks
Frontend: 1 dev 3 weeks
23341 + 17506 + 32094 + 26259 = $99,200
With an $OP price of $0.52 (time of this post) then this would mean 190,770 $OP tokens.
rotki github: GitHub - rotki/rotki: A portfolio tracking, analytics, accounting and tax reporting application that protects your privacy
rotki discord: (has captcha verification – so have DMs open): Rotki
rotki twitter: https://twitter.com/rotkiapp
- This proposal is only for the initial development and specifically for what is outlined in the budget proposal.
- Further support, bugfixes, and development/upgrade of relevant future is not included. We will naturally support rotki further and help users but we will not be under any special obligation after the initial development is done. This is not an SLA agreement between optimism and rotki.
- We reserve the right to request for more funds if the OP prices skews too low and no longer meets the budget requirements or if our estimates were way way off.
- We also reserve the right for further optimism related rotki funding proposals in the future assuming this one goes well and the users of optimism appreciate our work!