Season 6: Chain Delegation Program Amended

Season 6: Chain Delegation Program Amended

This is an amended version of the original Chain Delegation Program approved in Season 5. This will become the authoritative version in the case the Season 6 proposed Amendment is approved.


OP Chains play an incredibly important role in the Superchain future. Welcoming Base to the Collective was an exciting first step. The next step in building the Superchain future is ensuring a broad range of OP Chains are represented in the Token House. See here for more information on our approach to Onboarding OP Chains to Optimism Governance. The Chain Delegation Program is expected to play a meaningful role in our plans to onboard the next ~15 OP Chains.

The Chain Delegation Program, approved in Season 5, allowed OP to be delegated to OP Chains to enable them to actively participate in Optimism’s governance in Seasons 5 and 6. This program pertains only to L2’s as governance controls protocol parameters at the L2 level.

Please note: The Foundation will not facilitate OP Chain membership in the Citizens’ House. Badgeholders represent individual members of the Optimism Collective; they should not represent a project or company in their capacity as badgeholders. Furthermore, in the near future, the criteria required to become a Citizen will be determined by Citizens’ and approved via governance.


The Chain Delegation Program temporarily delegates a portion of idle OP from the Governance Fund to value-aligned OP Chains based on the criteria outlined below. Delegations will be made as additional Chains qualify.

A total of 20M OP is reserved to support the first ~15 OP Chains in their first year of governance participation, using idle tokens in the Governance Fund. Delegations will be made as OP Chains qualify, on a rolling basis until, the first 15 qualifying OP Chains have gone through the program.

OP Chain Qualification Criteria:

  • OP Chains that meet the below criteria will be eligible for 250k OP in delegation:

    • In the Superchain Registry (or similar)

    • Committed to contribute revenue back to the Collective and generating > 1 ETH / month in sequencer revenue, for at least 2 consecutive months

  • Additionally, chains the meet the below requirement will be eligible for an additional 750k OP in delegation:

    • 1M in transaction volume per month, for at least 2 consecutive months (qualifying Chains will be re-assessed on this metric at the beginning of each Season.) This metric more closely ties to private grant milestones, replacing the previous revenue generation metric (in part due to the impact of 4844).
  • Chains operating Standard Blockspace would be eligible for an additional 500k OP in delegation (a total of 1.5M OP for these chains.)

  • Qualifying Chains will be re-assessed on these metrics at the start of each Season.

  • OP Mainnet will not be eligible for this program

Delegation:

  • OP Chains will not be added to this program until they opt-in and verify they are able to uphold the below participant expectations:

    • OP Chains must maintain a >70% voting participation rate during the Season, calculated at the start of each Season, or their delegation will be removed at the start of the next Season

    • Delegates should set an ENS Primary Name to their delegation address and create a delegate statement on vote.optimism.io. It is also recommended to set an ENS avatar with the logotype of the OP Chain.

    • Chain delegates should identify a point of contact that will be responsible for this delegation. It is recommended that this delegate attend community governance calls, hosted bi-weekly.

    • Chain delegates will be top 100 delegates, which mean they are eligible to provide approvals on proposal drafts and should be active in the governance forums.

  • All delegations made through this program will be capped at the point at which an OP Chain reaches 3M in delegation (including Partner Fund grants able to be delegated), at the time of opt-in.

Accountability:

  • Any OP Chain delegate found to be violating the self-dealing section of Optimist Expectations will have their Chain Delegation Program delegations removed for the remainder of the program.