We are an officially recognized Tooling Governance Committee, responsible for assessing proposals related to tooling and infrastructure (wallets, bridges etc.).
To begin with, for this proposal we identified a possible conflict of interest between our team member (@cryptotesters involved in Hop protocol) and thus that individual was excluded from assessing this proposal.
2. About the project
There is plethora of bridges of various designs out there**.** There is also vast amount of tokens, some with native cheap bridging solutions. Bridge aggregators try to find the best path to move (and possible exchange) tokens from one chain to another and are important primitive.
In a nutshell, LiFi works in a way that a centralized backend provides routing information that is fed to and executed by decentralized smart contract system. LiFi itself doesn’t operate a bridge but rather aggregates already existing solutions.
LiFi supports Optimism for a while now. As far as we can tell, there are no plans for LiFi token.
Similar OP Governance proposals:
3. About the following
Proposal was posted back in August and recently updated to fit new template. LiFi team was quick to answer any additional questions asked by community members.
4. About the proposal valuation
In this part, we focus on the following aspects:
Added value (good to bad): good. Bridge aggregators are the best products to use for many types of users.
Impact or expected usage (high to low): medium. Aggregators are important but it’s a crowded space with many competing solutions.
Current Status [Development stage/¿Open Source?] (early to ready): ready.
Expenditure plan and distribution (appropriate to inappropriate): standard. Funds will be used to subsidize product usage as well as fund more integrations. This is quite in line with similar proposals.
Amount requested (high to low): low/medium
5. KPIs and impact tracking
We suggest tracking following KPIs:
- Users bridged
- Users who bridged and stayed active
Same KPIs should apply to subsidised integrations. Further more, gas stipends should be monitored to detect any sybil-like behaviour.
6. FINAL RECOMMENDATION: Yes
We apologize for the delays during this cycle. Our work was mostly done on time but we had delays with the final confirmation from each member to properly publish our recommendations with the proper consensus (this was due to devcon week, but we recognize this is not an excuse). We promise that this situation will not happen again and we will carry out the respective improvements of the process and we will share our learnings received during this cycle.
Thank you for patience.