OP Grants Stack: Di Well of Cryptoeconomics Wey Dey Regenerate | Layer 2 Review
My pipu,
We bin ship our last tori for July, wey don too tey, so we dey happy to yarn say from dis tori wey we dey do, we go dey give una Layer 2 Review every two weeks! Every two weeks, una go fi see di short gists and hot links wey una sabi.
Make we talk true, with all di development wey dey happen for Layer 2s, we go need di extra tori for dis month. Make una see aw August dey hot! Since di last time wey we drop mata, we don dey live for Base world, as Coinbase OP Stack-powered Layer 2 scaling solution don dominate di space. Why we no go follow am? With Onchain Summer wey dey buzz wella, no other place dey to to see all di tins wey dey happen for Ethereum's newest playground.
Di groove for Base start for late July with pre-launch enjoyment for pipu wey like shitcoins. Friend.tech, wey be crypto-native social app wey fi be di SoFi wey we don dey wait for, e come out for Base three weeks later and e don dey all di news since den. Weda you like am or you no like am, friend.tech don bring plenti attention to Base. So, even tho today na di last day for official Onchain Summer, di action for Base just dey start.
As per say Base dey built with di OP Stack, discussions dey go on inside di Optimism Collective about how Base fi join di ecosystem, including aw dem go share tokens and badges for voting. As Base don show face, now na beta taim make you sabi di OP Tech Stack, with di OP Grants Stack join. For example, you sabi say apart from di regular funding rounds wey dem dey do for public goods, di Optimism Collective get four types of proactive grants for work wey dey move di mission of di Collective forward. For dis tori editorial, we go give you small, short explanation about how di Collective dey give grants wey fi give you chance to earn. Make you stay strong, stay Based, and we hope say you enjoy Onchain Summer well. We go see again in two weeks, my pipu.
Contributors: Warrior, jengajojo, Tonytad, thinkDecade, trewkat, HiroKennelly
✅ Action Items
🌀 Take a deep dive into Rollups are Real — Rollup Economics 2.0.
🗳️ Vote on the latest onchain Arbitrum vote to fix protocol mechanics.
🌶️ As E Dey Hot
Starknet Upgrade Comot Pipu Access to Dia Funds, Dem Later Restore Am
Solidity guru foobar talk sumtin about Starknet:
E no too tey after:
🥶 Update
Zora’s Layer 2 Worth Am
If you neva reason Zora Layer 2, no waste taim again as Zora get amazing art and clean interface tocreate ERC-721s and 1155s, with airdrops join. Wetin burst head pass, na say e dey integrate with Nouns Builder wey go help creators build onchain organizations. And all of dis na with shikini gas fee wey dey possible with Optimism tech stack. Reason Zora, mint some art, create NFT, send am give your guys. Layer 2-enabled Zora dey give creators power to continue to dey do wetin dem enjoy to dey do more and more.
🏛 Governance
⭐ Onchain Vote
AIP-7: Arbitrum One Governance Control Setting Corrections
Three different kasala don show for di Arbitrum One Governance system wey need sharp answer:
1. Dem gats update di airdrop distributor fee sweep address make e match di address wey dey di DAO Treasury.
2. Dem gats set how dem wan return di moni wey dem collect for sequencer gas fee.
3. L1 Core Governance Timelock scheduleBatch Bug wey gats fix.
Afta dem don yarn for di forum, di vote waka pass di normal Snapshot temp check, and e dey open for onchain voting now."
💬 Proposals wey Dem dey Talk About
Arbitrum
September na Arbitrum #GovMonth! Pipu wey get ARB token fi help design di future of Arbitrum DAO if dem gada join hand set plan for wetin dem wan do, di vision, and values, plus to decide where dem go share grants and to help di pipu wey dey build inside di ecosystem. We dey share 200k ARB, so chook eye for Arbitrum #GovMonth make you see how you dem fi pay you to govern!"
Optimism
"Base just yarn for Optimism Forum on how e go take join hand help di Collective and support public goods, but e still dey beg make di Collective yarn how Base fi put hand well well for di Collective. Big ups to Jesse Pollak. 👏
Starknet
Starknet don finally dey ready to waka go di direction of delegated governance! Dem don dey gada profiles since last December, but e no too late to become delegate! If you dey interested to join Starknet governance, drop note for di profile Forum post.
Celo
Anoda alt Layer 1 don decide to waka enter as Layer 2 scaling solution. Make we welcome Celo, na blockchain wey don dey since, and e fi bring beta beta tins to di Ethereum ecosystem. Make you check di vote wey get nearly 100% approval below:
🪂 Airdrop Station
📈 Data
Total Value Locked on L2s don go Reduce to $9.6 billion!
Top Ten Projects by Total Value Locked:
🔭 Project Watch
Arbitrum
Top Projects by TVL
NFT Collections wey dey Hot
Which Projects Pipu dey Rush?
Optimism
Top Projects by TVL
NFT Collections wey dey Hot
Top Projects by Interaction
Top Projects by New Users
zkSync
Top Projects by TVL
zkEVM
Top Projects by TVL
OP Grants Stack: Di Well of Cryptoeconomics Wey Dey Regenerate
Author: HiroKennelly
For di past few months, Bankless Publishing and oda teams inside BanklessDAO don dey work togeda to yarn awa audience about di main principles wey hold di Optimism Collective, like di Optimistic Vision and di Impact=Profit way of thinking.
For those of una wey just dey catch up, di Collective na di name wey dem give to describe Optimism’s ecosystem, including users, contributors, builders, founders, projects, protocols, and capital. We fi talk say di ultimate goal of di Collective no be just to find out how dem fi sustainably fund public goods for web3, but how dem go also solve some of di big coordination problems wey dey di fiat world. E dey ambitious, yes, but e no dey impossible.
Di Collective dey guided by di Optimism Foundation, and dey work togeda with di Token and Citizens’ Houses. If you wan sabi more about how di Collective take form, you fi check dis artikul wey I publish afta Optimism launch dia token.
Di work wey dem dey do for BanklessDAO, e get support from grant wey dem collect from di Collective, and e be one of many initiatives wey dem fund to spread awareness of di Optimistic Vision. No be di first time BanklessDAO projects don get funding for dia Optimism-related work. In fact, some teams wey dey produce content for di DAO don dey promote Optimism for more dan one year, and dem don collect grants wey relate to dat work.
Di Collective third retroactive public goods round dey come soon, and proactive grants still dey available. As we don receive both retroactive grants and proactive grants, we think say e go make sense if we reason una small overview of di grants programs wey di Collective dey run.
Optimism Get Plenti Grants Funding Mechanisms
When e reach grant mata, Optimism na beta example for retroactive public goods funding — na di real-life way wey Optimistic Vision show face, wey dey carry di main thesis for mind: Impact=Profit. Dis idea talk say pipu wey create value thru public goods suppose collect moni reward for dia efforts.
But retroactive grants no be di only way wey di Collective dey use to fund projects. Apart from funding work wey don already contribute to di network success, di Collective also get proactive grants program wey dey set grantees up ahead of time with various goals wey di Optimism Foundation prioritize.
Na four types of Collective Grants dey (we go talk more about dem later), but di one wey dey progressive pass, na Collective Intents. Dis na governance experiment wey di Optimism Foundation don start. For example, under Intent 3: Spread Awareness of DI Optimistic Vision, BanklessDAO (as part of an Alliance) don seek and receive support to create Global Campaign to Spread di Optimistic Vision (di Mission).
If we join di two parts of di Optimism grants program togeda, e create one model wey dey reward those wey don do great work to push forward di Collective mission. E don also ginger those wey dey inside di Collective to contribute dia expertise to important goals. For di process, all of us dey participate for one big experimental playground to learn how we fi collectively govern individuals, small teams, big organizations and ecosystems join.
Retroactive Public Goods Funding Na Impact=Profit
To sabi aw Optimism dey reason about grant funding, you gats chop inside your head di idea say Impact=Profit. Dis one just mean say pipu wey add value to di collective good (impact) suppose receive funding (profit) wey match di importance of dia work.
We don yarn wella about Optimism's belief for retroactive public goods funding (RetroPGF) for Bankless Publishing and Layer 2 Review, but we neva talk plenti about how di process dey work. Make we use RetroPGF Round 2 as example, but make we start from high level.
Optimism don identify three main parts for RetroPGF:
Impact Scoping: Wetin di Collective suppose fund? How dem take screen am and choose?
Impact Scoring: How Citizens' House dey evaluate impact? Which metrics, process, or tools dem dey use?
Impact Settlement: How di voting dey work?
Di Optimism Foundation as e dey now dey define both di scope of RetroPGF round and how voting dey work, but dem get plan to later give dat power to di Collective. For now, Citizens' House dey allocate OP tokens within di guidelines wey di Foundation set, but as part of dat process, dem dey work on impact scoring. For example, during di review of RetroPGF Round 2, di Collective drop one artikul wey dem call "RetroPGF2: Learnings & Reflections" — e get 20,000-word 'summary' of wetin dem learn. As you fi imagine, e get plenti detail, but e still dey easy to understand. Di summary be say Optimism don identify four main wahala wey dem go work on for RetroPGF Round 3:
How di Collective fi collect beta quality data wey go serve as "proof of impact" for di evaluation and voting by badgeholders? Wetin be di structured data wey fi make badgeholders do less impressionistic evaluations?
How impact evaluation go fi expand to cover not just di personal experience and impression of badgeholders, but di evaluation of all di impact wey dem don observe inside di collective?
How we fi provide beta mental models and definitions for impact evaluation? How we go fi support badgeholders make dem fi collaborate more effectively? How we go take communicate di core mechanics of retro funding for one way wey go still give badgeholders dia own control?
How di Collective fi provide beta voting experience for Badgeholders? How di Optimism community fi create tools wey go improve di RetroPGF system for evribodi?
Dis na governance wey dey evolve for action, and e be wetin dey make di work wey Optimism dey do sweet.
How Dem Dey Run RetroPGF Rounds
Make we use RetroPGF Round 2 as example. Dem first announce di round thru Mirror post. Di process get six steps:
1. Dem select Citizens' House badgeholders based on criteria wey dem don set already. For RPGF Round 3, pipu wey wan express interest to become badgeholders fi show dia interest for dis Forum post.
2. Applications open, and anybody fi nominate person or project for RetroPGF. Self-nomination still dey allowed, and for Round 2, e bin necessary because plenti of di ecosystem's most important public goods projects no receive nomination from anoda pesin.
3. Nominated pipu and projects gats create one profile wey get complete information about dia project, di impact, and di team.
4. Badgeholders go review and vote on di nominated projects wey create profile. Dem go announce results, and di selected projects go jubilate!
5. Projects wey wan collect RetroPGF grants suppose complete one KYC process to collect OP tokens.
6. Di Collective go do thorough debrief and analysis, like how dem do am for RetroPGF Round 2 Learning & Reflections.
For RetroPGF Round 2, dem share 10 million OP tokens give 195 projects. For RetroPGF Round 3, di Collective wan share 30 million OP tokens for four categories: di OP Stack; Collective Governance; Developer Ecosystem; and End User Experience & Adoption.
Even tho dem never announce di exact dates for RetroPGF Round 3, you fi subscribe to Optimism's RetroPGF Newsletter so you fi get di latest updates! RetroPGF get di potential to change di world, but e go only apun if you support di effort by nominating projects wey deserve am, wey dey create public goods, and wey contribute to di collective economy.
Optimism Dey Fund Proactive Grants Too.
To add join dia famous RetroPGF rounds, di Collective get four different funding mechanisms for proactive grants:
1. Grants Council: Di Grants Council dey elected by di Token House and dem get responsibility to support Collective Intent 2: Innovate on Novel Applications. Inside dis, dem get two categories of grants wey dey open for builders and growth experiments. Dem dey evaluate applications for dis grants based on 5-week cycles wey we explain for dis artikul. More info on how to apply for dis type of grant dey for di Grants Council’s CharmVerse page.
2. Token House Missions: Token House Missions dey proposed by contributors to di Collective and dem suppose align with one Collective Intent. For example, BanklessDAO proposed Mission dey under Intent 3: Spread Awareness of di Optimistic Vision, but other eligible Intents na Intent 1: Progress Towards Technical Decentralization and Intent 4: Governance Accessibility. Na Grants Council dey run Intent 2 and e no dey part of di Token House Missions. Missions suppose dey completed within one Season. Dis video fi help you understand how to submit Mission proposal.
3. Foundation Missions: Foundation Missions no too big but dem still dey ongoing. You fi find list of ongoing Foundation Missions for dia GitHub. Applicants suppose reply as a comment for GitHub. Just like Token House missions, dis video fi help explain aw di Foundation dey evaluate Requests for Proposals/Missions. Foundation Missions get specific OP bounty wey dem attach to each Mission.
4. Di Partner Fund: Na di Foundation dey operate di Partner Fund, and e dey targeted at large grants for ecosystem partners wey don show success, including those wey wan get funding to scale or deploy on Optimism. Grants under di Partner Fund dey ongoing and applications dey open.
If you combine dis four grant programs togeda, dem dey work to push forward di Collective's mission thru one experimental and evolving approach to guided work. We fi expect di Collective to change some of di parameters for Season 5 based on wetin dem learn from Season 4.
E Dey Give us di Chance to Join Hand put for di greater good.
Di Optimism Collective don create one playbook wey get one big goal: solve di world's major coordination wahala thru one new kyn of economic model wey go reward pipu for di measurable positive impact wey dem make for di common good.
Dem base dis on Impact=Profit and proactive grants wey dey find new ways wey we fi experiment wey go dey on di edge of wetin we think fi apun. Di Collective don give us one clean slate wey we fi use imagine aw we go fi govern awaself, togeda. But di main tin wey dey inside all of dis na di members of di Collective wey suppose answer di call of Ether's Phoenix, wey be say dem suppose rise up and use di opportunities wey di Collective provide. Di Collective give us chance to contribute to di greater good, but di good go really become great when we, as one collective, decide to take action.
🔥 L2 Fees and Costs Update
Transaction Fees as of August 31, 2023:
Security Costs as of August 31, 2023:
🗞️ Ecosystem Updates
⛓️ Optimism Collective Welcomes Base
🆕 Immutable zkEVM Testnet Is Live
🔀 Thread: EVERYTHING You Need to Know About Base
➿ PancakeSwap DEX Live on Base
⚡ First-Ever Podcast NFT on BASE Featuring Jesse Pollak
⭕ Gitcoin Passport Stamps Land on OP Mainnet
📜 The Scroll Makeover Includes New Website and Documentation
📈 Check out this friend.tech Dune dashboard from cryptokoryo
🔮 Introducing Polygon Chain Development Kit
🧰 An Inside Look at MapleStory Universe, a Mega Web3 Project in the Games Industry
🏁 Revoke.cash Adds Support for Mantle Network