[READY] [GF: Phase 1] Thales

I am counting both, so approx 3M, as its still not distributed.

they haven’t been distributed yet, so there’s no point in debating that further. If so, we should shut down all Phase 1 applications over the next many months.

yes, you are right. As long as their last fund is still left(may be they can submit when 20% is left to give them some time prepare a proposal ), they should not be allowed to submit a new proposal.

There’s a chicken-and-egg issue associated with looking at current users to determine grant size.

No, its not. Its pretty simple and clear from where I see this.

o I suggest we look at the existing and upcoming products and why they may or may not bring in newcomers to Optimism

Thanks you for mentioning this as I am looking and that why I am against it. This proposal has huge room for improvement.

Ultimately, the question we need to ask ourselves is whether we believe Thales’ products and their associated OP incentives will draw in substantial users to Optimism

Like I said, I am willing to discuss this but not now. Not in current scenario.

Anyway, proposal is already live, its clear where I will vote. I am looking forward to learning from comments of other users and delegates.

I agree projects should not be proposing additional funds until the original funds have been spent.

I have noticed some delegators posting proposals and I don’t think this should be allowed or if it is allowed they should withdraw from taking part in the vote.

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Thank you supporting my view.

They will, this a common practice, if a delegate has any relationship with a proposal, they will abstain themselves from voting.

I’ll add additional details when I have more time, but wanted to say I FULLY SUPPORT this. Thales is rolling out new features and products that are truly industry firsts and I see massive potential here not just for Thales but the entire Optimism eco. Everything is and has been based on Optimism and this plan to use Phase 0 as well as Phase 1 OP rewards would be extremely valuable to accelerate adoption. In the very near term Thales will be releasing products such as Overtime that will very likely change a multi-billion dollar industry, but will require mainstream adoption of blockchain to reach the truly stratospheric levels, but can be done. This will result in unprecedented volume flowing in to Optimism. Thales/Exotic Markets/Overtime are just the base layer and just getting going. These are some of the most innovative and well planned protocols out there. Plus, the most decentralized and in-line with the ethos of Optimism. I am in full support and expect this to be a major catalyst for Optimism.

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Take advantage of the World Cup to shine!

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This is a strong proposal, but I’ll be voting No until we see some results from the Phase 0 funding. Definitely hope to vote for Thales in the upcoming phases, and hope to see normies onboarded to Optimism in the interim.

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Voted: No.

There is already a thread related to this, So I dont think I need to write the same thing again.

Will be happy to support this in next phase.

Requesting your view and opinion on this :

This proposal fits into Gov Fund Phase 1 but Ask is high considering Phase 0 Funding: Voting No

Value-add: Good - Users adopting Optimism
Amount: High
Op distribution: Ok, a bit THALES-token oriented
Co-incentives: Good

We see Thales as a good early adopter of Optimism but would like to see first results from phase 0. Also, liquidity (mining) incentives are one way to grow the ecosystem in the short-term but we do not see much value-add in co-incentivizing a specific project pair.

Nonetheless, we like the detailed proposal, look forward to sticky liquidity incentive designs around your (new) products, to specific co-incentives & co-marketing in the next phases or outside the program.

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Thank you for the constructive feedback! All fair points.

Just to clarify a bit around liquidity incentives:
Drect guidelines from Optimism team for Phase 0 proposals were to focus mostly on liquidity mining incentives (to draw in liquidity to the Optimism network) and usage incentives (to draw in real users). I decided to follow those same alignment guidelines for Phase 1 proposal also, as Optimism deems those two points as the best value add.

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The proposal is good, but it would be nice to see actual usage of the phase 0 funds before accepting for phase 1 funding to be able to judge if additional funds will be used correctly or bring value.

As Thales will receive 1m $OP tokens from phase 0, we do not feel that it is appropriate to give out another 2m until we have seen effective use of the 1m tokens. It was an informative proposal but we are going to be voting no.

We look forward to seeing the launch of Overtime Markets.

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Unlikely to pass the snapshot vote,I think Thales should request fewer OP token, 0.5M-1M is more reasonable.

I am voting NO on this proposal.

Reasoning:

  1. It has already received 1m $OP (~$520,000) from Phase 0 and too little time has passed to be able to judge if that has been put to good use.
  2. It is asking for a very big amount of tokens 2m $OP (~$1,040,000) to push even more incentives into using the app/protocol.

Things I liked but still can’t push me to vote for it. I noticed (and may be wrong here) that not only your contracts but also your UI code is opensource which is something I really like: thales-markets · GitHub

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Thank you for sharing this proposal. I’ll have to agree with a number of what other delegates wrote here that given there was already a substantial OP token distribution from Phase 0, I don’t feel that another larger distribution makes sense yet in Phase 1.

Hello it would be remiss if i didn’t point out that the vote for distributing Phase 0 $OP tokens was passed a long time ago. (Maybe a month now or so) - but they have NOT - been sent to the team. As in, 0 $OP tokens have been sent to the Thales protocol yet. It literally takes a click of a button to accomplish this so at this point I really have no idea as to what to issue is from the administrative side of things getting the $OP tokens sent.

Not only this but in the time that has since passed, Thales could have been using the $OP tokens to produce some powerful results IMO.

I have subscribed to real-time alerts for this specific wallet address that Thales reauested their original allocation be sent to on Optimism using Forta, and with 100% certainty I can tell you there has not been a distribution to them.

There appears a serious disconnect between the voters/protocols/users/Optimism when you think about what I am sharing here…

Anyways, my post was just to make sure you were indeed aware of this fact and hopefully we can find a better way to iterate on this process because at this point I truly don’t think anyone would say it is working very well (the process in place).

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I’m not involved in the payout of funds and would also like to see prompt payment to teams but my understanding is that the Phase 0 batch vote ended June 22 so it’s been 7 business days and I could see it taking a bit of administrative work/coordination for their first batch payment. I posted your comment in the governance Discord channel to raise awareness though.

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We are voting no on this proposal, reasons are: funds received in phase 0, it’s in our interest to see the impact of the project with this previous financing before deciding whether to approve more funds and to have better judgment on it.

I will encourage everyone to read through the Phase 0 and Phase 1 proposals and give Thales’ products a look. Phase 1 largely relates to a new product suite (Sports AMM) which is launching shortly and may as well have been released by a separate protocol.
It is the first chainlink-driven sportsmarket AMM ever, and it’s launching on Optimism! If that’s not conducive to bringing in new users, I don’t know what is.
Moreover, Phase 0 rewards haven’t even been received yet.
I understand the reasoning behind wanting to see the outcome of Phase 0 rewards before approving Phase 1, but it comes with a high cost to momentum. Launching the first Sports AMM ever with Phase 1 grants is a powerful way to bring new users over to Optimism.

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Following up on this that the Optimism team updated in Discord that “Phase 0 funds are expected to be delivered by EOD tomorrow for most projects”

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Snapshot vote - Not passed