Retro Funding 4: Badgeholder Manual

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  • Voting period: June 27th - July 11th 19:00 UTC
  • Results announcement: July 16th
  • Participation: all badgeholder are expected to reserve 5 hours to participate in round 4.
  • Reward Amount: 10M OP, max reward per project 500,000 OP, minimum reward per project to be eligible is 1,000 OP.
  • Impact Period: October 1st, 2023 - May 31st, 2024
  • Voting Transparency: Votes will be public

Retro Funding 4: Onchain Builders

Retroactive Public Goods Funding (Retro Funding) is the mechanism by which the Optimism Collective ensures that its contributors are fairly rewarded for their impact. We imagine a future in which Optimism core development, governance contributions, developer tooling, onchain applications, and more, are sustainably rewarded for the impact they provide to the Optimism Collective.

Retro Funding 4 rewards onchain builders who have deployed their own contracts on the Superchain. These builders play a crucial role in driving the adoption of the Superchain and generating sequencer revenue. For this round, eligible chains are Base, Zora, Mode, Fraxtal, Metal and OP mainnet,. Impact generated between October 1st, 2023, and May 23rd, 2024 will be rewarded. You can find the full details of the round’s design and its components here.

Voting on impact metrics

:ballot_box: You can find the voting app here

The thesis behind this Retro Funding experiment is that by leveraging quantitative metrics, badgeholders are able to more accurately express their preferences for the types of impact they want to reward, as well as make more accurate judgements on the impact delivered by individual projects. This means within round 4, badgehodlers will not vote on individual projects.

  1. Vote by selecting and weighting metrics: You will vote by selecting and assigning weights to various impact metrics. Each metric comes with a description and a link explaining its calculation.
  2. Votes are public: As badgeholders are voting on metrics instead of projects, concerns about coercion and social pressure are reduced, which is why votes will be public following the voting process. The content of your ballot, impact metrics and their weights as well as OS multiplier, will be made public following the voting period.
  3. Results calculation via Median: Results will be calculated based on the median of the OP allocations assigned by badgeholders. You can see your OP allocation on the right side of the ballot page. Results will be normalized to match the round size.
  4. Max/Min allocation per project: The maximum you can allocate to a project, as a result of your weighted metrics, is 500k OP. If a project meets that limit, the excess OP are proportionally allocated to remaining projects. Following results calculation, all projects who receive less than 1,000 OP will not be eligible to receive rewards. This barrier exists due to the operational lift of distributing grants. The OP allocation of these projects will be proportionally allocated to remaining projects.

Impact Metric creation

Badgeholders shaped the creation and curation of impact metrics by participating in a workshop and multiple surveys. The opportunity to test the voting UI provide yet more feedback, ensuring the final metrics framework truly reflects the community’s values and preferences. You can find more about this process here.
The impact metric creation has been lead by OS Observer, who are leveraging public datasets, meaning anyone can verify the integrity of the source data. All of the code powering impact metrics is open source, allowing anyone to audit the models and query logic. To find out more about how impact metrics work, head here. For each metric, you will find a detailed description and a link to it’s calculation within the voting application.

Profit

Within this round, no grants, revenue or funding are deducted from projects’ Retro Funding rewards, as defined in the fallback profit definition. You can find the Ratification vote of the profit definition here.

Conflicts of Interest & Bribery policy

  • Within this round, it is not required for badgeholders to declare their conflicts of interest and badgeholders are free to vote using any impact metric.
  • It is required that Optimism badgeholders refrain from engaging in bribery. Please review the Retro Funding 4 bribery policy.

FAQ

Where can I find the recording of the R4 kick off call?

You can find the recording of the kick off call here

I need to change my badgeholder wallet address, how do I do that?

Please submit this form and the Foundation team will contact you

What is this “Metric Distribution” table and graphic about?

The Metric Distribution table shows you how projects performed against a particular metric. The percentage shows the share a project has of a given metric.

How does the OP Allocation model work?

The OP Allocation model on the ballot page shows you what results would look like applying your metrics and weight

Can I edit my ballot after submitting it?

Yes, after you have submitted, you can edit your ballot and submit again as long as voting is open

Where can I find the data used for the open source multiplier?

You can find the data which was used to classify projects here

Where can I find more information about the projects that applied?

You can see all projects that applied via retrolist.app

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