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Thank you everyone for 10 weeks of incredible Twitter Spaces covering the Optimism ecosystem.
**Collect and own this episode as an NFT!
0.005 ETH mint, limited collection of 50 NFTs.
Proceeds are re-invested to grow the podcast and expand crypto education.
Dope Wars: Play to own NFT game. Submitted a proposal on the OP governance forum, requesting OP Funding.
If you own a Hustler, Dope Wars has a multi-player map.
Dope Wars started on Ethereum L1, and minted on L1.
People have since migrated their Hustler’s and gear to Optimism L2.
25% of tokens are to incentivize users to bridge their Dope Wars NFT onto Optimism. This is good for Optimism as it could increase users moving onto the network.
Also want to give OP tokens to users that have already bridged to L2 to pay people back for gas fees.
Looking to distribute 25% of tokens to metaverse experience as rewards for playing games.
Optimism Statistics from Dune Analytics:
Over 460,000 users / wallets that have used Optimism over time. This has more than doubled since April 2022.
Over 10 ETH in daily transaction fees generated on Optimism. 113X times lower than you would be saving on Layer 1.
Top 5 delegates on Optimism:
Nick Tong
Linda Xie
Quixotic.io
Polynya
Synthetix Ambassador Council
Big 4 layer 2 network bridgers ~ rough numbers
zkSync: 332,000
Arbitrum: 331,000
Optimism: 216,000
Starknet: 20,000
OP token holders: around 89,000
What does it mean to be a delegate? Jrocki is now a delegate! You can delegate OP tokens to him - Jrocki.eth
Keeping up with proposals and giving feedback on proposals in the governance forum.
Voting happens on Snapshot. Users can see how delegates are voting on Snapshot. Tied back to ENS name / delegate name.
They are on voting cycle 3 right now.
The more tokens that a delegate has, the greater weight that a delegate’s vote has.
Espresso and Jrocki both agree that Optimism has a great brand.
Aside from the positive connotation of the name itself, the support for Public Goods funding and beyond positions Optimism well to be an influential player in the crypto space.
Upcoming NFT Projects and Mints:
OP Bunnies still minting
Silly Seals minting July 16th
Odysseus and Abraxas are both working on Silly Seals.
Odysseus (founder) brought on Abraxas as a Community Manager
OptiChads end of month potentially
Cryptovania story submission July 27th
OptiChads: Dicaso
Chilling and Shilling
Hurt his thumb, taking a break from art for a little
Always use a VPN! Protect your computer
Dicaso is doing the drawing himself, by hand using a tablet.
Mint date: end of month maybe?
Why come to layer 2?
How will we attract people to Optimism Layer 2?
Is there a bit of a confirmation bias where we’re all involved in Optimism Layer 2 so we tend to support those prior beliefs about Optimism more heavily?
Many of the projects that have minted out are either free or some sort of Ape derivative.
We’re competing with Layer 1, where gas is pretty cheap right now during the bear market.
Many of our consumers tend to expect free mints
Web3Mark from Quixotic:
The NFT bridge from Quixotic will merge into the Optimism codebase.
They are being risk-averse and doing an audit for the bridge starting July 18th.
In mid-August, they want to launch support for bridging L1 NFTs on Quixotic.
You will be able to list on L1, but when you buy it, it will transfer to L2 in one single transaction with cheaper gas.
Works similar to any standard ERC-20 bridge with an escrow system.
They use the Layer 0 Oracle to send the message to Layer 1 requesting the NFT.
Filters and stuff will work the same.
Also working on batch transactions, where you can purchase multiple NFTs in one transaction.
Could it be that Optimism and Layer 2 are a bit of a different use case than Layer 1?
Perhaps gaming or some other use cases will be the adoption points of Layer 2 because of cheaper fees
Reputation and governance NFTs: POAPs have been super successful on Gnosis chain (sidechain to Ethereum)
They want to make it easier to issue badges for achievements.
They are moving their marketplace contract to use SeaPort, which is OpenSea’s marketplace exchange contract, and it is audited.
Quixotic has implemented direct fiat on-ramps for the marketplace, and always trying to add more.
If gas fees explode again on Layer 1, then Layer 2 is really well positioned for people who are into NFTs and want to keep it affordable.
We only need 4% listed on any given collection to have as much liquidity as on OpenSea.
Quixotic’s main goal is to help communities move from Layer 1 to Layer 2 and embrace scaling.
Outreach to L1:
Why are L1’s not exploring Optimism?
A lot of L1 projects just are not aware of Quixotic.
Binji from Optimism OP Labs joined us on the Space!
Huge fan of the energy
Speaks to new projects every day.
OP Labs members are out here to support us.
Once NFTs become ubiquitous, then the gas fees really matter. Think concert tickets, for example
“It's all community. It's built up by people like us. You want to be into NFTs with friends.
Is it for the art, or is it for the utility?
Many of us agree, these Twitter spaces are a highlight of the week.
All of the podcasts become NFTs.
Cryptovania: a fan fiction site where you can write and vote on stories.
Distraction Boy with OP Bunnies dropped 2 NFTs for each minted bunnies. 1 to 1 for Bunnies and Pixelated bunnies. 1 to 1 wallet for citizens… and that’s not the end of it yet! OP Bunnies are still minting, holding the record for the longest running mint on Optimism.
Dicaso sacrificed (burned) 33 humans to get 4 vampires in Cryptovania. He wrote the Saga of Bonquisha.
Abraxas paid 0.6 eth for his Cryptovanian peasant vampire. This is the top Cryptovania purchase ever so far. Abraxas also wrote his Cryptovania story in a rhyming / poetic way.
If you get the most upvotes for your story, there is a 0.2 ETH reward.
Abraxas shares his story of getting liquidated:
Last fall, Abraxas migrated from Layer 1 to Polygon then over to Fantom.
Lost money by depositing all of his ETH on polygon into Chee-Dao (spelling?) in MAI token.
Lost > $10,000 worth of coins. Value dropped 90%, while ETH is dropping as well. Lost ETH too.
Dicaso put 200K into pickle.finance, and locked it for 4 years.
Abraxas on Aggregation theory:
Ben Thompson coined the term “Aggregation Theory”.
Companies have ability to both aggregate the product as well as the consumer.
One of a big challenge for web3 is to compete with these large companies like Google that are big aggregators.
This is difficult to compete with. The real product is people.
Google and Twitter has aggregated the majority of people / majority of the internet.
How will blockchain fit into these existing large players in the market?
Etherscan feels like the Google of web3, where Etherscan indexes every transaction on the Ethereum Blockchain.
Can we build the future with Retroactive Public Goods Funding?
Cryptoglyphics:
Launching a music-related project on Algorand
Algorand is unique because it is enabling people to opt-out of getting airdropped NFTs. You don’t have to worry about people pushing things to your wallet if you don’t want them to.
Cryptoglyphics mentioned taking independent music venues and moving them to more decentralized places, giving them a communal voice for them to have leverage.
The lead architect of ADA just became the CTO of Algorand.
Thank you everyone for 10 weeks of incredible Twitter Spaces covering the Optimism ecosystem.
**Collect and own this episode as an NFT!
0.005 ETH mint, limited collection of 50 NFTs.
Proceeds are re-invested to grow the podcast and expand crypto education.
Dope Wars: Play to own NFT game. Submitted a proposal on the OP governance forum, requesting OP Funding.
If you own a Hustler, Dope Wars has a multi-player map.
Dope Wars started on Ethereum L1, and minted on L1.
People have since migrated their Hustler’s and gear to Optimism L2.
25% of tokens are to incentivize users to bridge their Dope Wars NFT onto Optimism. This is good for Optimism as it could increase users moving onto the network.
Also want to give OP tokens to users that have already bridged to L2 to pay people back for gas fees.
Looking to distribute 25% of tokens to metaverse experience as rewards for playing games.
Optimism Statistics from Dune Analytics:
Over 460,000 users / wallets that have used Optimism over time. This has more than doubled since April 2022.
Over 10 ETH in daily transaction fees generated on Optimism. 113X times lower than you would be saving on Layer 1.
Top 5 delegates on Optimism:
Nick Tong
Linda Xie
Quixotic.io
Polynya
Synthetix Ambassador Council
Big 4 layer 2 network bridgers ~ rough numbers
zkSync: 332,000
Arbitrum: 331,000
Optimism: 216,000
Starknet: 20,000
OP token holders: around 89,000
What does it mean to be a delegate? Jrocki is now a delegate! You can delegate OP tokens to him - Jrocki.eth
Keeping up with proposals and giving feedback on proposals in the governance forum.
Voting happens on Snapshot. Users can see how delegates are voting on Snapshot. Tied back to ENS name / delegate name.
They are on voting cycle 3 right now.
The more tokens that a delegate has, the greater weight that a delegate’s vote has.
Espresso and Jrocki both agree that Optimism has a great brand.
Aside from the positive connotation of the name itself, the support for Public Goods funding and beyond positions Optimism well to be an influential player in the crypto space.
Upcoming NFT Projects and Mints:
OP Bunnies still minting
Silly Seals minting July 16th
Odysseus and Abraxas are both working on Silly Seals.
Odysseus (founder) brought on Abraxas as a Community Manager
OptiChads end of month potentially
Cryptovania story submission July 27th
OptiChads: Dicaso
Chilling and Shilling
Hurt his thumb, taking a break from art for a little
Always use a VPN! Protect your computer
Dicaso is doing the drawing himself, by hand using a tablet.
Mint date: end of month maybe?
Why come to layer 2?
How will we attract people to Optimism Layer 2?
Is there a bit of a confirmation bias where we’re all involved in Optimism Layer 2 so we tend to support those prior beliefs about Optimism more heavily?
Many of the projects that have minted out are either free or some sort of Ape derivative.
We’re competing with Layer 1, where gas is pretty cheap right now during the bear market.
Many of our consumers tend to expect free mints
Web3Mark from Quixotic:
The NFT bridge from Quixotic will merge into the Optimism codebase.
They are being risk-averse and doing an audit for the bridge starting July 18th.
In mid-August, they want to launch support for bridging L1 NFTs on Quixotic.
You will be able to list on L1, but when you buy it, it will transfer to L2 in one single transaction with cheaper gas.
Works similar to any standard ERC-20 bridge with an escrow system.
They use the Layer 0 Oracle to send the message to Layer 1 requesting the NFT.
Filters and stuff will work the same.
Also working on batch transactions, where you can purchase multiple NFTs in one transaction.
Could it be that Optimism and Layer 2 are a bit of a different use case than Layer 1?
Perhaps gaming or some other use cases will be the adoption points of Layer 2 because of cheaper fees
Reputation and governance NFTs: POAPs have been super successful on Gnosis chain (sidechain to Ethereum)
They want to make it easier to issue badges for achievements.
They are moving their marketplace contract to use SeaPort, which is OpenSea’s marketplace exchange contract, and it is audited.
Quixotic has implemented direct fiat on-ramps for the marketplace, and always trying to add more.
If gas fees explode again on Layer 1, then Layer 2 is really well positioned for people who are into NFTs and want to keep it affordable.
We only need 4% listed on any given collection to have as much liquidity as on OpenSea.
Quixotic’s main goal is to help communities move from Layer 1 to Layer 2 and embrace scaling.
Outreach to L1:
Why are L1’s not exploring Optimism?
A lot of L1 projects just are not aware of Quixotic.
Binji from Optimism OP Labs joined us on the Space!
Huge fan of the energy
Speaks to new projects every day.
OP Labs members are out here to support us.
Once NFTs become ubiquitous, then the gas fees really matter. Think concert tickets, for example
“It's all community. It's built up by people like us. You want to be into NFTs with friends.
Is it for the art, or is it for the utility?
Many of us agree, these Twitter spaces are a highlight of the week.
All of the podcasts become NFTs.
Cryptovania: a fan fiction site where you can write and vote on stories.
Distraction Boy with OP Bunnies dropped 2 NFTs for each minted bunnies. 1 to 1 for Bunnies and Pixelated bunnies. 1 to 1 wallet for citizens… and that’s not the end of it yet! OP Bunnies are still minting, holding the record for the longest running mint on Optimism.
Dicaso sacrificed (burned) 33 humans to get 4 vampires in Cryptovania. He wrote the Saga of Bonquisha.
Abraxas paid 0.6 eth for his Cryptovanian peasant vampire. This is the top Cryptovania purchase ever so far. Abraxas also wrote his Cryptovania story in a rhyming / poetic way.
If you get the most upvotes for your story, there is a 0.2 ETH reward.
Abraxas shares his story of getting liquidated:
Last fall, Abraxas migrated from Layer 1 to Polygon then over to Fantom.
Lost money by depositing all of his ETH on polygon into Chee-Dao (spelling?) in MAI token.
Lost > $10,000 worth of coins. Value dropped 90%, while ETH is dropping as well. Lost ETH too.
Dicaso put 200K into pickle.finance, and locked it for 4 years.
Abraxas on Aggregation theory:
Ben Thompson coined the term “Aggregation Theory”.
Companies have ability to both aggregate the product as well as the consumer.
One of a big challenge for web3 is to compete with these large companies like Google that are big aggregators.
This is difficult to compete with. The real product is people.
Google and Twitter has aggregated the majority of people / majority of the internet.
How will blockchain fit into these existing large players in the market?
Etherscan feels like the Google of web3, where Etherscan indexes every transaction on the Ethereum Blockchain.
Can we build the future with Retroactive Public Goods Funding?
Cryptoglyphics:
Launching a music-related project on Algorand
Algorand is unique because it is enabling people to opt-out of getting airdropped NFTs. You don’t have to worry about people pushing things to your wallet if you don’t want them to.
Cryptoglyphics mentioned taking independent music venues and moving them to more decentralized places, giving them a communal voice for them to have leverage.
The lead architect of ADA just became the CTO of Algorand.
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