ScaleWeb3 - Delegate Communication Thread

[ScaleWeb3]

This thread is intended to provide an insight to ScaleWeb3, a record of ScaleWeb3’s voting, reasoning for each vote and a collection of important comments across the Optimism forum & proposals.

Name: ScaleWeb3
Delegate Address (ENS): 0xA56DfbE8010a8830a9Fe5B56e8efF7236e277120 (Superdelegate.eth)
Websites: scaleweb3.com, blockchain-comparison.com, defi-reporting.com
Forum Activity: Profile - ScaleWeb3 - Optimism Collective

ScaleWeb3 is a company specifically created to support quality projects (l1s, l2s, DeFi, Web 3) with

• ecosystem building incl. strategy input, stakeholder onboarding, education, value-adding tools & apps for all kinds of Web 3 stakeholders (users, investors, projects, etc.)
• input to products
• input to governance governance.

We leverage blockchain-comparison.com, defi-reporting.com and more channels to distribute quality info.

PS: We have had issues with our l1 multisig voting on Optimism after voting cycle #2 due to a security change from Snapshot. Pls redelegate from ScaleWeb3.eth to Superdelegate.eth!

[ScaleWeb3]

Our Delegate Committment

Delegate Commitments

Name : ScaleWeb3 Address or ENS: ScaleWeb3.eth [old, unusable] → Superdelegate.eth [NEW] Discord username : ScaleWeb3#7123 Verification (Tally profile or tweet): Optimistic Tweet; Tally Profile for ScaleWeb3.eth I have read and understood the Delegate Commitment Process: Yes. I understand that becoming a delegate is a significant commitment: Yes, that’s why we founded a specialized company. We focus on governance, ecosystem building & tools around top Web 3 projects. My reasons for wanting…

[ScaleWeb3]

Our votes in cycle #1

Voting Cycle #1: Roundup

We shared a short Twitter thread on the governance process, voting cycle 1 & our voting behavior/reasoning. We also submitted a forum post to 1inch (needs to be approved), asking them to engage with their official account and explain in more detail how they will support Op ecosystem development, specific products and adjust the distribution of Op tokens to grow the optimistic ecosystem. Ps: Fantastic Delegate Voting Power Dashboard Delegation is still possible and we’re just below the…

For better readability, see summary below:

• Voted YES on the batch vote (pre-screened by Optimism Foundation)
• Voted YES on Uniswap (late submission) and 0x (use funds 100% for grant distribution) as both proposals are value-adding to the Op ecosystem.
• Asked 1Inch in their forum to add more details on Op engagement & adjust distribution of Op tokens before voting - which a.o.t. led to them ending up in the batch vote again.

[ScaleWeb3]

Our votes in cycle #2

Voting Cycle #2: Roundup

Here are our votes for the current cycle. Brief reasoning is given below the project proposals. Proposal A: Optimistic Railway - No Proposal B: dForce - Yes Proposal C: GYSR - No (Changed vote from Abstain to No) Proposal D: Mean Finance - Yes Proposal E: Raptor - No Proposal F: Balancer & BeethovenX - Yes Proposal G: Summa - No Proposal H: WardenSwap - No Proposal I: Pickle Finance - Yes Proposal J: Ooki Protocol - No Proposal K: Infinity Wallet - No Proposal L: Beefy - No Proposal…

[ScaleWeb3]

In voting cycle 2 we came up with the following assessment criteria for proposals:

Value-add: Very small - Very high (Project Size, Product importance for Op, User/TVL Onboarding)
Amount: Reasonable - Too much (compared w/ value-add, use of funds)
Op distribution: Bad (internal development, venture funding) - Good (long-term, unique, value-add…)
Co-incentives: None - Great

@ScaleWeb3

Overall, we were criticially looking at spending vs. potential return. We wanted to see some detail in proposals, clear value-add & alignment with the Optimism ecosystem. Consequently, there are projects we like but didn’t vote for this time, and we look forward to slightly adjusted proposals in the next Phases.

[ScaleWeb3]

Our votes in cycle #3

Voting Cycle #3: Roundup

The good news: Our votes in this cycle match the current results 100% and wouldn’t have changed the result. A: Superfluid: Yes B: Kromatika: No C: Hundred Finance: Yes D: Biconomy: Yes E: Dope Wars: No F: Infinity Wallet: No G: Dexguru: No H: Overnight: No I: Saddle Finance: No The bad news: We created our Gnosis Safe on the Ethereum network and were able to vote on the first 2 proposals but we were not able to vote this time. Due to a vulnerability, Snapshot has changed their settin…

[ScaleWeb3]

Please redelegate from ScaleWeb3.eth to Superdelegate.eth

Delegated votes to ScaleWeb3.eth cannot be used anymore. Manual redelegation is required.

Explanation below

@ScaleWeb3

We created our Gnosis Safe on the Ethereum network and were able to vote on the first 2 proposals but we were not able to vote this time. Due to a vulnerability, Snapshot has changed their settings last week for security reasons and is only allowing votes from safes on the same network from now on.

@ScaleWeb3

Solution - Manual redelegation is needed!
As currently delegated tokens can not be used to vote on proposals anymore(!), we have created a new account that we will use from now on to vote on Op proposals. We ask the Op team to change our delegate address to the new address to make sure no new votes are delegated to our old address.

We tried to solve this over the span of 2 weeks and had been in contact with Snapshot, Gnosis Safe and other delegates but due to the sudden Snapshot change & our setup of the l1 mulsitig we are not able to use the address on Optimism and for Optimism governance voting anymore.

Voting Cycle #3: Roundup

This is the process we went through: We voted with our Safe deployed on Ethereum mainnet the first 2 voting cycles. Then Snapshot changed their settings, now requiring voters to be on the same network to vote (Op governance → Optimism). We needed to gain access to our Safe address on Optimism. We checked how to recover funds / redeploy gnosis multisig on other networks (Gnosis Safe guide) Our hopes got up as we saw that our case is covered (Safe version 1.3.0) and we …

Please redelegate from ScaleWeb3.eth to Superdelegate.eth

[ScaleWeb3]

Our votes in cycle #4 (Pls redelegate from ScaleWeb3.eth → Superdelegate.eth for cycle #5)

Voting Cycle #4: Roundup

Here are our votes for the current cycle. Brief reasoning is given below in project proposal threads. A: Rocket Pool - Yes B: Boardroom - Yes C: dHedge - Yes D: xToken & Gamma - Yes E: Byte Mason - Tending to No, waiting for clarification F: GARD - No G: Beefy - Yes H: BarnBridge - No I: QiDAO - Yes Overall, we mainly looked at alignment with Optimism and potential to grow Optimism (vs. costs). The Asks seemed rather large from most teams compared to last rounds. The proposal quality d…

@ScaleWeb3

Overall, we mainly looked at alignment with Optimism and potential to grow Optimism (vs. costs). The Asks seemed rather large from most teams compared to last rounds. The proposal quality did improve though and we belief most projects can add significant value to Optimism (with these proposals).

[ScaleWeb3]

Our shared Proposal for a DeFi committee
with @OPUser @MinimalGravitas @DeFi_LATAM_Joxes @Dhannte

Can’t wait to get more engaged w/ Op projects & DeFi proposals which should ultimately show

• great alignment with Optimism,
• real value-add for user/project onboarding AND retention through clever incentive design;

as these 2 factors are criticial to bootstrap growth & achieve lasting success as Op-Eth-Web3 ecosystem.

We plan to also share some blogs on interesting, unique, potentially sticky liquidity mechanisms, short- & long-term ecosystem/DeFi strategies incl. KPIs worth optimizing for. Hence, it would be nice to have the comprehensive proposal assessments, and research proposal claims (KPIs) vs. actual results!

[DRAFT] S02 Committee Proposal: DeFi

Committee Proposal Committee Category: DeFi Committee Our focus is on making the proposal process straightforward for DeFi projects by providing a clear framework and support along the way. Our approach of engaging with proposers, performing solid due diligence & sharing qualified assessments, should help proposers make stronger proposals, facilitate decision-making for other delegates and strengthen the Op ecosystem. We consider all kinds of DeFi applications and liquidity mining schemes to…