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Optimism as the primary L2 for LRTs
Delegate Mission Request Summary: Bolster presence of LRTs on Optimism as the primary L2 for hosting LRT liquidity. LRTs cumulatively have a TVL of $11Bn+, mostly concentrated on Mainnet.
S6 Intent : Intent 3a: grow application devs on OP Mainnet
Should this Mission be fulfilled by one or multiple applicants: Upto 6 (Maximum 120K OP for each applicant)
How will this Mission Request help accomplish the above Intent?
Currently more than $10 Billion in liquidity is locked as LRTs on Mainnet. Shifting even a fraction of this liquidity to Optimism from Mainnet will be significant.
LRT liquidity is still nascent on most of the L2s, which means they are still in process to expand to L2s, giving Optimism an opportunity to be an early mover L2 in this space.
Increased liquidity on Optimism, will help for further structured product integrations within Optimism, increasing developer concentration.
Mission funding specifically for LRT projects with staking tokens, and not defi protocols that use the tokens of these projects
What is required to execute this Mission Request?
Grantees must launch their proposed project by the half time mark of the Mission period, which in this case is 3 months.
The grant to the project should be used to incentivize users to use the project and not for development/deployment to Optimism.
How should governance participants measure impact upon completion of this Mission?
Milestones: Milestones should represent tangible progress towards the deployment of the tool or application, and also also clearly define the features that will be complete and useable by the end of the grant period.
Active Restaking infrastructure from the grantee project along with the rewards/incentives/points system that is also available on mainnet
Milestones tied to the total liquidity that the projects bring on Chain
Metrics: Did the project succesfully deploy? Is the project useable end-to-end as described in the application? Is the project reaching it’s desired users?
Metrics to be measured in terms of the verifiable Token supply and number of users, using Optimism block explorer as a source of truth
Impact: How many users did the grantee bring on with their project? How large is the design-space in applications unlocked by this project? How has this project contributed to developer growth?
Has anyone other than the proposer contributed to this Mission Request? No
Which metric will the success of this Mission Request be evaluated against?
The North star metric against which this Mission Request should be evaluated is TVL, because the initiatives outlined above aim to attract an influx of additional assets. This metric was suggested by the foundation and approved by the Grants Council.
Delegate Mission Request: Optimism as the primary L2 for LRTs
Application Link
Make sure you’re logged in with Farcaster, and make sure you choose the correct S6 Mission field (this will be the same name as the title of this Mission Request).
If you're having trouble joining the Optimism Grants Council space, join via this invite link.
Optimism as the primary L2 for LRTs
Delegate Mission Request Summary: Bolster presence of LRTs on Optimism as the primary L2 for hosting LRT liquidity. LRTs cumulatively have a TVL of $11Bn+, mostly concentrated on Mainnet.
S6 Intent : Intent 3a: grow application devs on OP Mainnet
Proposing Delegate/Citizen: Boardroom (Grants council)
Total grant amount: 600,000
Should this Mission be fulfilled by one or multiple applicants: Upto 6 (Maximum 120K OP for each applicant)
How will this Mission Request help accomplish the above Intent?
What is required to execute this Mission Request?
How should governance participants measure impact upon completion of this Mission?
Has anyone other than the proposer contributed to this Mission Request? No
Which metric will the success of this Mission Request be evaluated against?
The North star metric against which this Mission Request should be evaluated is TVL, because the initiatives outlined above aim to attract an influx of additional assets. This metric was suggested by the foundation and approved by the Grants Council.