[READY] [GF: Phase 1 Proposal] OptiChads NFT Project

đź“ś Grant Proposals Governance Fund: Phase 1
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Project name: OptiChads

Author name: Dicaso on behalf of OptiChads

L2 recipient address: 0x10850762bac0dc6660630c1effe188a7cbfddc88

Grant category: NFTs & Gaming

Number of OP tokens requested: 50,000

Is/will this project be open sourced? Yes. We are CC0.

I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes

Is this proposal applicable to a specific committee? Yes

Project description: A 10K PFP project encouraging Health & Wellness in Web3 and beyond. 50% of mint / royalties donated to public goods funding! (Over 6E so far!)

Project links: https://linktr.ee/optichads

Additional team member info: Our dev, Distractionboy, is the cofounder of Optimistic Bunnies and is well known within the OP NFT community.

Relevant usage metrics:

1,738 Unique Holders

4,994 Trades

20E Trading Volume

6E+ Donated to Public Goods

Smart Contract:

Optimism native? Yes.

Date of deployment: August 2, 2022

Ecosystem Value Proposition:

Our focus is improving Health & Wellness in Web3 through our art. We have a very active and passionate community of Chads focused on self improvement in and out of the gym. Through community efforts such as giveaways and fitness challenges, we have grown to be one of the top NFT projects on Optimism by trading volume. As we scale we plan to introduce more and more benefits to our holders such as fitness and wellness/mental health counseling, discounts on protein products, etc.The art was hand drawn by myself with attention to detail in mind - with the goal of bringing more normal users, as well as degenerates into Optimism. As far as street cred is concerned, Vitalik has liked some of our posts regarding our donations to RPGF, and we are the only project on Optimism followed by Opensea. At our core we are a community of like minded fitness lovers and are working to bring more users into Optimism with our existing relationships and by building new ones. Optimism cannot succeed without a vibrant NFT community. NFTs bring new entrants into the ecosystem, hype, and stickiness. These are things we need to develop and foster together!

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Proposal for token distribution:

We’ve partnered with https://quest3.xyz/ a Web3 Quest and event platform, and will use their service to do a series of fitness related contests where we can reward our NFT holders OP provided they completed the tasks. The Quest3 incentives would be the first of their kind, essentially the NFT community’s equivalent to DeFi’s incentivized liquidity mining as I see it. For verification we are able to review submissions manually through the platform before rewards are dispersed.We plan to use some of the funds to set a reward of 1 OP for users who follow our social media channels.This direct marketing approach is a more effective and efficient use of capital by leveraging Web3. The result should be exponential growth and awareness, and a positive network effect. We would like to have a series of weekly quests over a period of 2 months, beginning with a contest that rewards holders who have done a certain amount of steps, followed by a pushup challenge the next week, etc.

We would allocate 100% of our OP allocation to these quests. We will be using our own NFTs and Eth from royalties after the incentives are complete to continue these challenges and keep our community swole.We already have a strong following and track record of Discord and Twitter challenges. So we hope to use the funds strategically, as we’ve done before to drive volume to Optimism. NFT projects such as OptiChads in turn benefit Public Goods funding and the ecosystem as a whole.

co-incentives: 50 NFTs to the top addresses with the best completion rate

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Well written and thought out proposal. I support this 100%

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Exciting! Can’t wait to get the communities reaction to this!

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Love to see an NFT project that follows the trend of supporting public goods, and the focus on health & wellness is something we don’t see enough of in web3.

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I support it.
This can boost nft community on optimism.
but also, use this 50% of it to airdrop to the early believer in the project as well.

As 90 percent to fitness challenges seems that team has motive to get hold of all the funds.

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Thanks for the comment! I think rewarding active holders will be more adventageous because it will allow us to iterate based on participation and feedback. We could airdrop OP to our users as many DeFi protocols have done, but with what we are asking for (50,000 OP) we can only airdrop 31 OP between all of our holders before quickly depleting the funds. Getting this proposal passed would be huge for the OP NFT Community like you said, so we wanted to be precise and realistic with what we were asking for and how it would be given out. I am curious what other people think about this, but it’s not possible to do a meaningfull airdrop with only 50,000 tokens and I am fine with that number for challenges and to get the ball rolling for the NFT community. As far as “the team holding all the funds” we kind of have to in order to disperse them to the community with the Quests. With the donations we have already made to RPGF we have established a lot of credibility in the Optimism community already, and we aren’t exactly asking for a Lambo so the incentive is high for us to keep building.

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thanks for the comment, appreciate the support!

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thanks exciting what this can do for the nft community!

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appreciate it! hopefully Optimism NFTs can see the same sort of volume that Solona NFTs are seeing as more and more people get priced out of Ethereum Layer 1.

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This project is full of new things, and will continue to grow along with the quixotic market, and also I’m sure every project from optimism network will be more and more popular. :smiling_face_with_three_hearts:

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im here working for everyone

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I like the idea of using real events to keep the holders and community to remain active which can also indirectly increase the value of the NFT itself.

Although, I’m a bit curious on how to manually check to verify the participants to see who are eligible for the rewards. I’m not sure if all those health applications can be tricked to count false steps without actually walk such as using a fake gps app. So, it would be great if you can clarify on the verification process.

Also, I don’t think it’s a good idea to reward $OP for random users who just follow your social media channels. People can create multiple social accounts to follow to receive $OP. It’s just a way to increase followers who may not care about the community and will probably unfollow after they receive $OP. Perhaps, giving $OP to verified NFT holders might be a bit better, however, I don’t see the benefit to the community in the long run by just giving $OP like this, even to the NFT holders.

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Hi thanks for the feedback. We will try to tailor the rewards to avoid sybil. We can require video submission for some tasks. Things like steps can be faked but the rewards are going to be per holder that meet a threshold not per step and will be extremely conservative with distribution. With our current holders we can do 4 OP per week initially and increase rewards depending on the percentage of active users.

We only planned on allocating a small number of the tokens (500 - 1,000) to direct marketing. I think if we set multiple assignments (follow us on Twitter, Discord, retweet this post etc while requiring a unique address it it will prevent sybil, or at least make it extremely time consuming since the reward is so small) Again this is an experimental form of marketing but I do think it is more effective than most other forms (like paid shills) given the amount of capital we are allocating to it. I would add that to even claim the OP they would need to have bridged Eth to Optimism for the gas and signed up to the platform so it should attract more real users than fake ones. It’s a very minute and experimental concept that we added to the proposal but it is ceartinly not the focus, and we can remove it without affecting our core idea which is fitness based rewards. I would be curious what other people think about it since it can also have huge benefits as well. It really depends on what kind of people follow us and whether or not 1,000 more followers would cause a network effect down the line.

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Thanks for the clarification. A video should be one way to prove, though I might have my friends record their video when they do fitness and send it to me cause I’m kind of a sloth-type person lol (kidding). Oh well, maybe it’s time for me to consider exercise regulary TvT.

Also, I think providing $OP for people who follow social media channels is ok if you consider that they must do other quests like bridging ETH to Optimism that you mentioned as well as joining OptiChads guild or something like that. Providing $OP to a person who retweet post or creating Chads meme with the most likes may be one of the ideas. :slight_smile:

:muscle: :muscle: :muscle:

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Lol Ironically I have gained weight spending months to make the collection but have gotten back into shape a bit recently thanks to my own propoganda, so I can definitely relate. The last idea is ingenious I can actually incorporate that using Quest3 as their platform is very flexibile!

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Here is an example Quest. Hopefully this can help people understand the platform.

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Hey Dicaso,

Thanks for submitting a proposal. I like the concept of what you plan to do a bit hard to police thou.
I’m concerned with the 10% allocation, I believe “fixed costs such as domain/ipfs hosting…” is not what this fund is for as it would require you to sell.

Is it possible for OptiChads to continue paying its fixed cost and exclude it from this proposal?

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Hi thanks for the feedback. We can use 100% of the funds for rewards and continue to fund the project with our own capital. I will edit the proposal to reflect this. I agree that its difficult to police but our focus is to increase community engagement. They will have to be holders and we will do additional filtering like requiring a twitter account per user to make sybil extremely difficult.

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Very exciting proposal. With the adoption of mainstream coming, I am looking forward to see this space move forward. It is good timing for an onboarding initiative in the Optimism NFT sector.

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Thank you! I believe NFTs will bring a crazy amount of volume into Optimism in the near future, but its up to creators to build that ecosystem. I think this would be the first NFT proposal to get approved should it pass.

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