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.
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.
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.
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.
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 canāt 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 Ā· GitHub
Thank you for sharing this proposal. Iāll 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 donāt feel that another larger distribution makes sense yet in Phase 1.
Hello it would be remiss if i didnāt 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 hereā¦
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 donāt think anyone would say it is working very well (the process in place).
Iām 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 itās 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.
We are voting no on this proposal, reasons are: funds received in phase 0, itās 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 Thalesā 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 itās launching on Optimism! If thatās not conducive to bringing in new users, I donāt know what is.
Moreover, Phase 0 rewards havenāt 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.