Thanks for including a link to Tarot’s new proposal. It now focuses exclusively on direct incentives within Tarot, for borrowing activity (OP-based, and other Optimism pairs) and lending (OP, ETH, and USDC).
This last monday we held our 6th Governance Call in Discord to discuss about our decisions on cycle #7. We continue sharing our experience as delegates and part of governance committees. This call was made just after Devcon week.
Participants: +17. Duration: 2h 12min.
A summary about our performance during Cycle #7
As we said, this cycle happened during Devcon week (particularly during delegate feedback and voting weeks), in this case we work with our contributors to realize our tasks at time, but for example, some final coordination problems caused a delay at delivering all the tooling committee recommendations at time.
Our voting procedure
Continuing with our process explained in previous governance calls, we discussed the present proposals, ratifying once again the one taken into account by the governance committees or expressing our own rationale otherwise.
As result, our vote for cycle #7 has been as follows:
- Abracadabra Money: Against.
- Overtime Markets: Against.
- Overnight dot fi: Against.
- Sushiswap: Against.
- Tarot: For.
- Alchemix: Against.
- Dope Wars: Against.
- Otterspace: For.
- Rainbow Wallet: For.
- Karma (Delegate Dashboard): For.
- Karma (Discourse forum plugin): For.
- Safe: For.
- Li Fi: For.
- Yearn: For.
Some notes about our presence on Ethlatam and Devcon
With great joy, members of DeFi LATAM community between Optimism Español and Layer 2 en Español joined forces to have a presence all day in various stands during the Ethlatam event held on October 10 at the same venue prior to the Devcon.
Also, our community participated in the following talks:
- Erik Suazo “How to participate in DAO governance” disscusing about the state of Optimism Collective and how contribute. Full video here.
- Joxes and Axl “Introduction to Optimism”, a talk to explain how Optimism works and future with bedrock. Full video here.
The rest of Devcon week we were attending EthBogotá, Rollup Day and Devcon, talking at the Optimism booths as well as meeting various governance delegates and our committee team members. We’re very happy that the whole Ethereum community had a great time in our continent, South America.
We’re always posting our procedures and activities, so this monday 11/7 we had our 7th Governance Call in DeFi LATAM in collaboration with Optimism Español to discuss the proposals of last voting cycle (#8). We continue to share our experiences as delegates and part of the governance committees in this season 2. This call was one of the longest we had and with a lot of debate about the proposals. We also had the pleasure of having the delegate @olimpio in our discussion with the community.
Our voting procedure
Our procedure remains intact as the previous governance calls, we encourage our members interested in Optimism and its ecosystem to express their opinion and be an active part of the final decision-making, as a way to absorb the experience, criteria and preferences of all in one voice. During this round we were able to observe more participation/discussion from our community members.
As a result, our vote for cycle #8 has been the following:
Following DeFi committee A recommendations. In the previous period Alchemix received important feedback and they moved forward by resubmitting the proposal. Our community saw the changes applied by the Alchemix team very positively
Arrakis Finance: Against
The three points considered by Committee A were well considered by our community. Also, the intentions of helping new illiquid projects on Uniswap V3 are noble, but it is appropriate to give more details of this approach and avoid gambling incentives, or else start low to judge the results later. Happy to see an improvement to the proposition, as boosting Uniswap liquidity is a positive for the broader ecosystem, more often than not.
Symphony Finance: Against
Committee A showed two important points to correct and our community also agreed. The Latam community is convinced that Symphony adds value to the ecosystem, it’s popular among the members of our community. However, a more focused proposal is expected.
Homora V2 x Ironbank: Against
Our community voted against the recommendation of the Defi C committee. The reasons are those expressed by several governance delegates, HomoraV2 in close source and the biggest beneficiary of the proposal is Iron Bank. Homora is a protocol used by members of our community, some members also collaborate with their community.
Angle Protocol: For
Following DeFi C committee recommendations, forex currencies like agEUR are a space worth boosting for asset diversity in the Optimism ecosystem. Also, Angle’s track record is respectable so far, which is why our community leaned towards this proposal.
Following DeFi C committee recommendations. The insurance protocols aren’t widely used among members of the community or ecosystem in general, for various reasons such as their lack of efficiency in a good fit to the DeFi ecosystem and complexity of understanding, but organic growth demonstrated so far, the coverage of a large number of protocols within Optimism and the KPIs proposed by the team, were essential for the decision made by the community.
Following DeFi C committee recommendations. Curve is one of the most popular protocols among the members of our community, not only because of the incentives generated in Ethereum and other chains, but also because of its solid history without vulnerabilities and great developers teams that have behind. We expect to see the same traction on Optimism.
Pool together: For
Following DeFi C committee recommendations. Latam communities has shown a particular affection for PoolTogether, in addition to being widely used by members, many started in crypto via this protocol. It was also very positive to show the results of the grant received through the partner fund. We hope that Pooltogether will continue to insert users to crypto and especially to Optimism.
Following DeFi C committee recommendations. In cycle #7 our community had voted against, and then Overnight team made the expected changes and in this cycle it was voted in favor.
Following Tooling committee recommendations. In cycle #6 our community had voted against, then Socket team made the expected changes and in this cycle it was voted in favor.
Following Tooling committee recommendations. Without a doubt, EthernautDAO adds a lot of value to the Optimism ecosystem. Glad to know that some members of our community have been mentored by EthernautDAO and have provided positive feedback of it. In addition, the change made in the proposal has been seen as positive. Thanks to @Gonna.eth who has been on some of our governance calls, sharing his opinion with our community.
Tally Ho: Against
Although it was voted against, the recommendation of the tooling committee was considered for this decision.
Ambire Wallet: Against
Same situation as Tally Ho.
Following Tooling committee recommendations. Our entire community knows the product and Messari’s reputation, however we consider that it is being offered a “service” and not a “proposal” along with the Optimism ecosystem. We also believe that it should be dealt with by other governance processes.
Following Tooling committee recommendations. All members of our community voted in favor of this proposal. We know the work of the team and we use the tools provided by Defilllama on a daily basis.
Following the recommendation of the Tooling committee. The community believes that Agora’s value proposition is different from other governance tools. We await the development of the protocol to be tested by our community.
Our community voted against the tooling committee’s recommendation. We have voted for governance tools with proposals similar to Mochi’s, we want to see the impact of these tools on the ecosystem before approving this proposal.
Since there was no recommendation from the DeFi A committee, there was a lot of discussion about this proposal in our community. Velodrome is one of the most used protocols by members due to the incentives given. Which led to the question if Velodromo is sustainable without the incentives, there was no consensus among the members. The importance of the Velodrome team for the expansion of the Optimism ecosystem was also highlighted. Points for and points against were touched. Our members did not reach a general consensus, so we voted to abstain.
Some notes about our presence at LABITCONF
With great joy, our members of DeFi LATAM community, Optimism Español, Layer 2 en Español, Mujeres en Cripto and Builders came together to have a presence all day in a booth during the LABITCONF event held on November 10 and 11 in Buenos Aires where +5000 people attended during the 2 days.
@NicoProducto (leader of Optimism Español) gave a talk on the governance of Optimism in front of +200 people.
Between events where we present Optimism and season 2, it has been an intense few months and a lot of work for our community. However, our team was up to the situation and we were not only able to have a presence in all the presentations, but we also fulfilled our tasks within governance in a timely manner.
In the next few weeks we will be uploading our thoughts on the season 2 wrap up, season 3 start and the Council Grant.
Season 2 has come to an end! and with this we write here our thoughts of community and participants for the DeFi LATAM delegation for this governance.
First of all we want to clarify that this doesn’t represent isolated individual thoughts, but also a compilation of thoughts from members interested in the Optimism governance from our DeFi LATAM community delegation, as is described in our commitment as delegates.
Next we are going to express positives, negatives and other thoughts that we learned from season 2.
Internal work in DeFi LATAM
As we expressed in our participation in the two committees, as a team we managed to carry out our work in a timely manner. As a team of 4, the division of labor for each of the proposals in the queue according to the corresponding committee, based on the expertise, knowledge, and context of each proposal and the team behind it, was correct. Then these discussions ended internally among our team, supporting our independent line of thought. Happily we were able to gain experience in a shared way.
- More minds, better ideas.
- The determination of tasks and responsibilities for each one facilitated the development and delivery of reasoning in an orderly and formal manner, ready for discussion.
- Each member worked on the proposals where they liked to focus the most and with the greatest motivation.
- Participation in the forum was remarkably active as a group and individually.
- Coordination work is not easily achieved in the early stages.
Workflow between committees
We are one of the few delegations that formally work as a group, which implies that coordination for the rest of the fellow committee members must be well managed. In this sense, we need to issue a special thanks to the committee leaders @OPUser and @krzkaczor because we are happy with the trust received, as well as the rest of the members. We learned a lot in the process and we hope that you all have also felt comfortable with our participation.
- Good relationship between the members of the committees from the beginning and motivations to do what is right at all times in our internal work.
- The discussions about the evaluation of the proposals in themselves and according to the expertise of each member were learning for all.
- Consensus was reached in relativegood way and was never a reason for division.
- Communication is not always optimal.
- The lack of availability caused delays in some parts of the process, so it did not fit well with the timing of the governance processes.
Impact on season 2
Committees contributed at first to lighten the workload of the delegates to evaluate the proposals, but they quickly became a cause rather than a discouragement for the participation in the forum by delegates not involved in some form of committee, mainly. On the other hand, the presence of these committees as a “trusted source of consultation” for governance generated more friction and sometimes personal discussions that lost focus or turned the environment into a hostile one, for example, when some proposals were rejected.
Seen from the outside, the committees failed on several occasions in their communicative role of being up to date, accompanying the proposals until their evaluation. From our side, we are proud that the reports issued by our committees had a comprehensive and even sophisticated analysis for the understanding of all parties.
- Iterative governance generated interesting discussions regarding the scope of the Committees that are reflected in Season 3, with the Council of Grants.
- Helped show which delegates were really involved, even if they were not part of any committees.
- There was a dispersion of information between Discord and the Forum, making it difficult to follow the thread of certain conversations.
- Moderation in the Forum was non-existent.
- Too many backchannels and/or private communications, there was no open communication from the committees in general.
Final thoughts and conclusions
Organization in governance is not easy, even more so when we’re just starting out for a protocol of such prominence as Optimism itself. As a result, following governance is not an easy task and we need to revisit how to align incentives so that contributing participants are rewarded in some way.
Forum discussions are desirable but we note the need for a more moderated environment to stay on topic, fueled earlier by challenged action by committees, but surely in the future by action by the Grants Council.
We want to note that since Phase 0 significant sums of OP tokens have been delivered to numerous projects, it’s time to thoroughly analyze the current impact and assess KPIs where appropriate, or have protocols report performance.
On our side, our commitment to this governance remains the same as the first day and we remain committed to the Optimism ecosystem. We are going to continue working with our community and the entire ecosystem to continue representing Latam within this governance.
In the context of upcoming Season 3, we’re issuing our first thoughts about these new process and proposals and its impact to the governance. Read below:
The year 2022 is about to end, and this week we have decided to make our last governance call for the rest of the year, discussing our pending decisions, always in collaboration with Optimism Español, specifically to discuss the proposals of this last voting cycle (#9a) and sharing other important topics.
Participants: +33 attendees. Duration: 2hs.
Our voting procedure
Sticking to our way of making decisions, we explain to the community the current status of active proposals. Then, we carry out the respective votes with the following results:
- Grant Council: For
The feeling from us (as delegate + contributors) and the rest of the community is that a twist is needed to cover the gaps that the committees couldn’t fill last season. This new iteration looks reasonable, but it’s a big change for delegates to focus on now; if this proposal passes.
- Protocol delegation program: Against
Despite several of us and contributors expressing about various positive aspects of this proposal, in the final consensus with our community there were more doubts or questions about the purpose of the proposal, such as, for example, if there is not a clearer path to where we should go, how to guide protocol representatives to pursue the interest of the network and not a shock of conflicting interests.
About our committee and retroactive compensation
As everyone can note, this delegation received a total sum of 16695 OP. In terms of contribution received by each delegate, joxes.defilatam.eth is positioned as the Top 1 delegation in funds received, which makes us feel proud of all the effort made. In details, the rewards have been received for the following reasons:
Participation in DeFi Committee C: 4043 OP - 24%
Participation in Tooling Committee: 4652 OP - 28%
Season 1 and 2 retroactive delegate rewards: 8000 OP - 48%
As we know, this delegation has worked together since its inception through Joxes (me), our group of contributors and Latam community, accompanied by an initiative started from DeFi LATAM called Optimism Español. In order to honor the efforts of our community, we have decided to distribute said funds to everyone involved in the community to participate in governance and support Optimism in its own growth and future:
- Committee Contributors: who shared the responsibility of carrying out the work in both committees for season 2. Joxes, @Netrim @AxlVaz and @Jadmat – 7200 OP.
- Optimism Español: to support the group of contributors who helped this initiative in any meaningful way. @NicoProducto, @et_2244, Pacha, @CryptoChica, Candu, Lu, @eriksuazo, Gasm and @ahhsun – 4700 OP.
- SEED Latam: an allocation for the next initiative to insert people from the web3 ecosystem of latam in governance – 2295 OP.
- Community Airdrop: a distribution to those who frequently participated in our governance calls and contributed to governance discussion and decision-making, counted by POAPs, excluding the contributors listed above – 2000 OP. More details will be shared in the next few days.
Call for optimism
We love working as a collective intelligence and transparency, something that makes us feel identified with the ethos of the Optimism ecosystem. If we want Optimism to be the transformative engine of Ethereum and the future of the internet, we must start iterating ourselves as best we can. So far, we’re all very proud of what we’re doing to encourage the rest of the Optimism community to appreciate these efforts, and we invite other delegates to refine their own participation processes, if applicable.
For now, we are preparing for Season 3, Citizen House release and RetroPGF 2 to continue contributing to public goods and Ethereum ecosystem.
Sharing my thoughts on the citizen house and public goods
Finally the Citizen House has been announced for its first iteration. As we know, since its inception it has been thought to focus on the idea of funding public goods, as a way to potentially contribute to the future of the internet and free software, where Optimism and Ethereum are immersed.
As a second iteration of RPGF, the amount allocated by the foundation has been 10m OP ($9m today), and it will be focused on Optimism and its new release OP Stack, although it would be desirable if it’s also accompanied by Public Goods built for Ethereum base layer. Anyways, it’s also understandable that starting with public goods that help Optimism itself and not beyond is easier to align incentives and take note of lessons learned before being ambitious and later broading scope.
LATAM and public goods for Ethereum
In this part of the so-called “third world”, the Internet has always remained relatively distant or under the radar of a good part of Western and Eastern capitalism, mainly in finance. Coupled with our political and economic particulars, it explains why free software initiatives have been relevant, and most notably, Ethereum.
The role of Latin America for the Ethereum ecosystem has been important, as it happens in other regions. Despite the average low income, the masterminds have been at the start, in the formation of by example OpenZeppelin, MakerDAO, Hardhat, Flashbots, Decentraland and many other projects, not to make a long list. Different generations of builders have been contributing to the ecosystem and the different Ethereum communities in this region have accompanied and nurtured to impact Ethereum for good, including DeFi LATAM, with a remarkable degree of sophistication, recognized by Vitalik.
Funding in Latin America is not easy to find, but fortunately the region has had access to these new mechanisms to build public goods such as having its own category in the Gitcoin Grants rounds, and Quadratic Funding in recent times such as:
- Ethereum TGU Grants (12444 USD)
- EthLatam BA (25000 USD)
- EthColombia (292300 USD)
More than sixty projects have benefited, including open source contributions, communities and projects that try to solve problems in Latin America. In the process, many members of the ecosystem here have gained enormous experience on how to understand the proposed objectives, the selection process, voting, and how to improve it for future rounds. Our community members have been voters, applicants and even developers of some of these.
There are several members of the Ethereum ecosystem in our region that I think could also contribute to the process in a significant way with direct experience in said rounds (in the same order) such as crisgarner.eth, @CryptoChica and juandav.eth; but also others like Mariano Conti, @Gonna.eth and @NicoProducto. My suggestion is that if any badge holder (elected by OF or by snapshot) wishes to nominate a person with a focus on this geographic location, my suggestion is on these persons.
The values of this delegation and a wish list
I must thank @kaereste for nominating this delegation (and @lefterisjp for keeping an eye out that we had a nomination), very excited by this. Elected or not, I will be looking closely at all infrastructure proposals with some priority as it is the key before building novel things on top of any form of Optimism.
Again, the objectives of this RPGF are clear: to help Optimism and its OP Stack in their degree of sophistication as a competitive framework that developers prefer to use over others. Some interesting things to see are communication between OP chains, consensus mechanisms for them, new L2 clients of Optimism and focused on being the most optimized possible, infrastructure to enable other data availability schemes, VMs and innovative fraud proof systems, and of course, true education initiatives without value extraction to attract more developers and users to Optimism. Additionally, if any initiative is also matchable for the development of the Ethereum base layer in some way, it would be considered as a plus and not to be ignored.
Lastly, although it’s not detailed yet, we expect Citizen House to have their own chat channels open prior to the launch of RPGF 2, including allowing them to iterate the process if there’s anything worth tweaking prior to the round. Excited for what’s to come!
Happy Citizen House!
About Badgeholder Nomination Voting
A total of 19 delegates were nominated to be part of Citizen House for this second iteration of RPGF. Regarding the voting decision, I have decided this time to receive an opinion from our main contributors about who could be the 10 most suitable for this round. It’s definitely not an easy task because all the nominees have demonstrated commitment to Optimism ecosystem and governance, and experience in public goods.
As a result, the following people who we have voted for and who we believe can truly contribute to this next iteration are: Linda Xie, Bobbay (vía Stablenode), Lefteris, OPUser, Polynya, Scott Moore, Dhannte, Minimal Gravitas, Kris Kraczor and Jack Anorak.
As promised, we have decided to distribute a total of 2,000 OP tokens to our participants in governance calls throughout the year, being our first community airdrop. This was never intended until the announcement of the retractive rewards for Season 1 and 2. As a result, it allowed us to do a very simple fair distribution among those who listened and discussed our decision making for Optimism.
The rules were: have claimed at least 2 POAPs from our governance calls (out of a total of 8 editions).
A total of 35 eligible, under the following distribution and by number of addresses:
- 8 POAPs = 120 OP (2)
- 7 POAPs = 95 OP (3)
- 6 POAPs = 85 OP (2)
- 5 POAPs = 75 OP (3)
- 4 POAPs = 60 OP (1)
- 3 POAPs = 50 OP (6)
- 2 POAPs = 40 OP (18)
*This excludes all 13 contributors between DeFi LATAM and Optimism Español.
These distributions and others can be followed watching my ENS, being also our delegation address (joxes.eth or joxes.defilatam.eth).
ICYMI – we’re postulating to Grants Council for Season 3 in Growth Experiment Sub Committee. An interesting thing, we’re proposing participate as a group, with Joxes (me) as leader and responsible to the vacant, but working as a group composed by 4 contributors.
Read our entire proposal here: Grant Council Reviewer Nominations - #7 by DeFi_LATAM_Joxes
And, yes! Happy new year 2023!
The last year we have publishing all our activities, and this year we’re keep doing the same and making things better. So, this Monday 01/16 we had our 9th Governance Call in DeFi LATAM in collaboration with Optimism Español to discuss the proposals of this special #9b voting cycle.
As a reminder, we continue to improve internally the way our contributors and rest of our community reach consensus on decision making within the Optimism Collective.
Our evaluation was shared among the contributors and then taken to the community to reach a consensus among the enthusiasts of the OP ecosystem.
We have decided to vote for the following 8 protocols as most voted:
- BeethovenX & Balancer
- Li. Fi
- QiDao Protocol
- 2Pi Network
These are a mix of protocols of which the community in some way reflects a preference regarding usability, appreciation or recognized builders behind it.
After a great debate about some considerations, mainly because our application to this council sub-committee, we have decided to vote 5 of most properly candidates:
@Bobbay_StableLab: their good level of participation and experience as a group (StableNode) and working with other protocols/DAOs. Bobbay has reproduced this for Optimism governance.
@GFXlabs: in the same line, this group has been in DeFi with a large experience in DAOs and helping to build and grow protocols.
@katie: good commitment and highly recognized in the space for her contributions. Expertise is also well known.
Joxes | DeFi LATAM: we’re generally against voting for ourselves (even before code of coduct was established), leaving the rest of governance to faithfully express their preferences for us, as by example in committee and badger holders elections. In this case OP foundation allowed the applicant delegates to vote for themselves as long as we chose 4 others and the community agreed to take this step. It should be noted that some of our contributors didn’t fully agree with this.
Regarding Builders, the community followed up with a good debate to choose the best 3 candidates, resulting in voting for:
- @Gonna.eth: several community members acknowledge Gonna.eth (Dhannte) and their work on EthernautDAO, we believe that he is ideal for this work.
- @kaereste: seems as a natural fit for this work also, well recognized in the community for his work on L2beat.
- @jackanorak and @OPUser: there was a technical tie for 3rd place. We see in Jack as likely to strongly contribute in this council based on expertise in protocols and analytics, demonstrated here in governance. In the other hand, we worked with OPUser in DeFi C committee and continues to maintain a longstanding dedication to governance, vision, and product. Without a clear consensus, we voted for both.
Season 3 will be quite different than previous iterations of Optimism governance. Council will occupy efforts that will no longer be the direct responsibility of the full set of OP delegates as was the case last year.With the new approach for grants, let’s see how the new council and foundation can improve the system of delivery of funds to reduce the waste of resources and increase the impact with short periods of time to guarantee the growth of the Optimism ecosystem.
This March 17th we held our 10th Governance Call in Discord to discuss about the RPGF2, the process and voting approach in community.
Participants: +30 attendees (32 collected; special thanks again to Pacha for the design).
Duration: 1hs 53min.
In this occasion we meet to discuss everything about the RPGF 2 and from the participation of SEEDLatam through joxes.eth as bagdeholder. To do this, we cover the following topics:
- What is RPGF
- Current scope of RPGF 2
- Experience of the onboarding and process as bagdeholder
- How is the voting process
- Reviewing some projects
- How to vote in the SEEDLatam poll
We were fortunate to have team members with Spanish-speaking members such as Proof of Integrity, web3beach, ETH México, Bankless DAO & Academy, WakeUp Labs, etc. We reviewed their applications, what they are doing and questions were answered. Very positive discussion.
We launched our snapshot page to experiment with community decision-making. Our snapshot page here.
In this occasion, we decided to grant the decision to allocate 20% of the voting power as bagdeholder for RPGF 2 in the hands of the community. You can check all the details in our voting rationale below. Please read.
We hope that our experience is useful for the collective and we look forward to see the results and what we learned in this round with the rest of the bagdeholders.
Hello OP users!
Participants: +50 attendees (49 collected; special thanks again to Pacha for the design).
Duration: 1hs 26min.
As usual, we conducted a 1 person 1 vote procedure with the participants of the governance call. The discussion about it in both proposals was fruitful and there was a lot of debate, mainly in the suspension of FractalVisions. Consensus is reached with the option preferred by the majority.
Results and rationale
Below our decisions and rational. Please read our post published in each related thread.
- Upgrade Proposal: Bedrock v2 - YES
- Delegate Suspension: Fractal Visions - YES
Bedrock is coming!
Season 4 is coming up and we have spent time reviewing the possible governance changes and giving our first impressions from the internal team of this SEED LATAM delegation.
We’re going to make our next governance call this coming Monday, May 1 at 9pm UTC in our SEED LATAM discord. If you understand/can speak spanish and want to participate in the discussion about everything that is coming up for Season 4, we are open to discuss and share ideas together. Open invitation to all. More about the details and formal announcement of this governance call soon.
Thx Fren, ill try to get to the call
Is there an Istanbul or Turkish community?
Hello OP users!
Participants: +50 attendees (48 collected; special thanks again to Pacha for the design).
Duration: 1hs 34min.
We had the opportunity to welcome @Pumbi as a new member of the Optimism Español team, who helped us with a review about the upcoming Season 4. As usual, Joxes as a delegate expressed his views regarding this new scope for governance, and we conducted a 1 person 1 vote procedure with the participants of the governance call.
Results and rationale
Our initial opinions were published in the last post. Please read our post published in each related thread. This was retified by the community members, so the decision made has been:
- Intent #1 Budget Proposal: Yes
- Intent #2 Budget Proposal: Yes
- Intent #3 Budget Proposal: Yes
- Intent #4 Budget Proposal: Yes
- Protocol Delegation Program Renewal: Yes
Yes! Bedrock is coming!
Hello, Joxes. This is a test. New profile here! Trying not to get our account suspended
We will soon publish a recap of this first year of participation in Optimism Governance.