Content creator⚙️ Aleo Ambassador 🚀 Optimism Ambassador🔴
Content creator⚙️ Aleo Ambassador 🚀 Optimism Ambassador🔴
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NataliiiiiiStep-by-Step Guide: How to Run an Aleo Node
Aleo is a privacy-focused blockchain that leverages zero-knowledge proofs (ZKPs) to enable private smart contracts. Running a node allows you to participate in testnets, mining (Prover), and transaction validation. Below is an up-to-date guide for setting up an Aleo node on Ubuntu 20.04/22.04.1. Server RequirementsTo run an Aleo node efficiently, you’ll need a dedicated server (VPS/Bare Metal) with:Minimum:CPU: 16 coresRAM: 16 GBSSD: 128 GBOS: Ubuntu 20.04/22.04Recommended:CPU: 32 coresRAM: 3...
NataliiiiiiOstium: welcome to Vooi
Today there is good news in the Vooi community, the Ostium testnet is now with us!What is Ostium? It is a decentralized platform for trading perpetual contracts (perps) on real-world assets (RWA) like commodities (oil, gold), indices (S&P 500, Nasdaq), and forex pairs (EUR/USD), built on Arbitrum (Ethereum L2). Hmmm commodities on blockchain…sounds interesting. Do you remember that Vooi’s goal was to create a single platform where you can trade all types of assets? So this is one of the signi...
NataliiiiiiRedstone - world of GameFi on OP Stack
GameFi is one of the innovative trends in the field of cryptocurrency technologies. In 2023, projects combining game mechanics, NFT and DeFi are rapidly developing. The main reason for their growth is new earning opportunities for investors and ordinary players, as well as attention from large companies.What is GameFi?This term is formed from two words – Game and Finance. It is used to refer to blockchain projects that allow you to monetize the gaming experience. The essence of the idea boils...
NataliiiiiiStep-by-Step Guide: How to Run an Aleo Node
Aleo is a privacy-focused blockchain that leverages zero-knowledge proofs (ZKPs) to enable private smart contracts. Running a node allows you to participate in testnets, mining (Prover), and transaction validation. Below is an up-to-date guide for setting up an Aleo node on Ubuntu 20.04/22.04.1. Server RequirementsTo run an Aleo node efficiently, you’ll need a dedicated server (VPS/Bare Metal) with:Minimum:CPU: 16 coresRAM: 16 GBSSD: 128 GBOS: Ubuntu 20.04/22.04Recommended:CPU: 32 coresRAM: 3...
NataliiiiiiOstium: welcome to Vooi
Today there is good news in the Vooi community, the Ostium testnet is now with us!What is Ostium? It is a decentralized platform for trading perpetual contracts (perps) on real-world assets (RWA) like commodities (oil, gold), indices (S&P 500, Nasdaq), and forex pairs (EUR/USD), built on Arbitrum (Ethereum L2). Hmmm commodities on blockchain…sounds interesting. Do you remember that Vooi’s goal was to create a single platform where you can trade all types of assets? So this is one of the signi...
NataliiiiiiRedstone - world of GameFi on OP Stack
GameFi is one of the innovative trends in the field of cryptocurrency technologies. In 2023, projects combining game mechanics, NFT and DeFi are rapidly developing. The main reason for their growth is new earning opportunities for investors and ordinary players, as well as attention from large companies.What is GameFi?This term is formed from two words – Game and Finance. It is used to refer to blockchain projects that allow you to monetize the gaming experience. The essence of the idea boils...
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On March 22, the list of new grant recipients was announced. It was 40 elected grantees from the 106 finalists of Cycle 19.
And I admit that among them there are very interesting projects for which we are in a bullish mood. Let’s focus on those projects that, in our opinion, look particularly bullish.
You can join here
Ether.fi is a platform for staking on Ethereum. One of the distinguishing features of ether.fi is that stakers control their own keys. The ether.fi mechanism also allows for the creation of a node services marketplace where stakers and node operators can register nodes to provide infrastructure services.
Ether.fi recently raised 23m$ from various investors. Token has already been released and you can check your eligibility for airdrop here:
1 April Ether.fi celebrates 939k ETH, $3.40B and only 61k away from 1M.
Now you can participate in Season 2
Season 2 is on from March 15 to June 30
Users who stake longer get 💪 rewards
Season 2 allocation is 5% of total ETHFI supply
You can learn more here:
https://etherfi.gitbook.io/etherfi/season-2-stakerank
Visit website ether.fi.
Connect your Ethereum wallet (Metamask or Rabby Wallet).
Stake ETH.
You can stake eETH minting from OP Mainnet.
Since it is built on the EigenLayer platform, you will also start earning EigenLayer points as well as ether.fi bonus points.
And don’t forget about ecosystem partners:
We have already told you about Pendle and RedStone in Newsletter #…., you can find details there.
Also you can use Omni for triple rewards. Base users everywhere will enjoy access to leading LRTs like EtherFi thanks to Omni’s interoperability advancements.
Join here
Kelp DAO is focused on building Liquid Restaking Solutions for public blockchain networks. The Kelp DAO is currently building an LRT solution, rsETH, on EigenLayer for Ethereum. rsETH is a Liquid Restaked Token (LRT) issued by Kelp DAO designed to offer liquidity to illiquid assets deposited into restaking platforms, such as EigenLayer. It aims to address the risks and challenges posed by the current offering of restaking.
Kelp DAO doesn’t have their own governance token but has launched a points program called Kelp Miles and hinted at rewarding users. To start earning Kelp miles and EigenLayer points, stake ETH or other LSTs like stETH or provide liquidity to the rsETH pools. Users who collect Kelp Miles will likely get an airdrop if they launch their own token.
Step-by-Step Guide:
Visit the Kelp DAO website.
Connect your Ethereum or Arbitrum wallet.
You will need ETH or other LSTs like stETH, ETHx or sfrxETH.
Now stake it on Kelp DAO.
You will get Kelp DAO’s liquid staking token rsETH.
You will now start earning yield as well as Kelp Miles and EigenLayer points.
Also, click on “DeFi” and provide liquidity to one of the available rsETH pools to earn more Kelp Miles.
Go to “Dashboard” and refer your friends to earn 10% Kelp Miles from each referral.
They’ve also launched a non-governance token called “KEP” for users to convert their EigenLayer points to a tradable token. For more info regarding KEP, see this tweet.
They don’t have a governance token yet but have hinted at rewarding users who collect Kelp Miles.
So, the users who collect Kelp Miles will likely get an airdrop if their token goes live.
You could also become eligible for the EigenLayer speculative airdrop for earning EigenLayer points.
On their proposal KelpDAO are saying that 40k OP will be allocated to grow liquidity. So we should expect them on Velodrome.
We can see 3 proposals by Velodrome:
1. Growth Experiment: 200k OP distributed like this during 10weeks: 20k for incentivizing voting incentives 5k as lock bonus
2. Velodrome Dex: 100k OP Slipstream (which is already live) will see some pools incentivized in order to vampire attack Uniswap volume. During 10 weeks.
Velodrome released Slipstream, a novel implementation to Concentrated Liquidity pools powered by Velodrome’s incentives, in the first week of March 2024. Slipstream aims to generate 4–5 times more trading volume and fees per TVL than current pools. It is designed for high-volume, lower volatility token pairs and will complement existing pools to expand Velodrome’s tools for acquiring volume.
Slipstream have several key features that will make Velodrome an ideal platform to support perp DEX trading:
Tick Spacing Refinements: with Slipstream, VELO emissions incentivize liquidity to build around the active price range, deepening pools and allowing wider tick spaces to outcompete fee-only DEXes. Wider tick spacing will maintain the user friendliness for LPs, reducing the need for liquidity rebalancing.
Oracle Updates: providing cutting-edge on-chain data to facilitate integration with the broader ecosystem.
Custom Fee Algorithm: algorithm dynamically adjusts fees, ensuring maximum rewards for veVELO voters and LPs under various market conditions.
Optimized Fee Structure: balancing reward generation for veVELO voters while maintaining low fees remain competitive.
3. LST support: 100k OP During 10 to 15 weeks. 15% to 20% voting incentives matched using a max of 12k OP per week
Velodrome Onboard one new LST provider to Optimism and increase adoption of LST’s on Optimism/Velodrome
Velodrome's program increased LST TVL on Velodrome by around 75% during this grant program, from a base of $20M in August 2023 to $35M in February 2024.
In the same period, Velodrome onboarded Metapool, unSHETH and Etherfi from ETH mainnet to Optimism, with the latter two planning to deploy a pool and incentives in the following weeks.
Velodrome in close touch with several other LST protocols, including Stader, Origin, Renzo, Ankr, Genesis, Inception, Stakewise and Redacted Cartel. However, several of these projects have repeatedly mentioned that the incentives made available in other L2s, especially Arbitrum, have made it more attractive as networks in which to prioritize deployment as part of their expansion to Layer 2s.
Velodrome has several advantages to supporting sUSD liquidity. sUSD was previously incentivized by Synthetix with what is equivalent to around $3K in OP/week today and was easily able to achieve close to $15M in liquidity. However, this liquidity decreased once the pool was no longer incentivized and activity on sUSD dried up which poses a barrier to onboarding new users to Synthetix specific perps.
Synthetix is a decentralized protocol providing liquidity and derivative infrastructure for onchain derivative protocols on Optimism, featuring Synthetix Perps as its flagship product.
This platform facilitates a range of DeFi applications, including but not limited to Kwenta Perps, Polynomial Perps, dHEDGE / Toros Vaults, Valio Vaults, and facilitating atomic swaps with 1inch/Curve. As a pioneering protocol on Optimism, Synthetix was the first to launch, demonstrating a strong commitment to the network's growth and stability by betting early on its success.
Synthetix Growth Grant
Synthetix aims to align with the objectives of the Optimism Growth Grants by enhancing user acquisition, increasing capital inflow and migration from CEXs, and boosting the overall economic activity on Optimism Mainnet (and across the Superchain). The strategy involves leveraging the incentivization of Synthetix Perps to attract and retain users. Furthermore, the inherently composable and permissionless nature of Synthetix allows developers to create and integrate their DeFi applications, facilitating a broader utility and adoption of the Optimism network. This approach is designed to directly contribute to the expansion and diversification of Optimism's ecosystem by encouraging the development of new applications and the influx of new users and capital.
Receiving this grant will directly enhance the user experience, with a structured approach focusing on improving liquidity, reducing costs for onboarding traders, and supporting gamified competitions to facilitate a community among traders.
The purposes of Synthetix:
Enhancing sUSD Liquidity: The grant will bolster the liquidity of sUSD, Synthetix's primary stablecoin. Enhanced liquidity makes it easier for perpetual futures traders to use sUSD for margin trading, thereby increasing the accessibility of trading on Synthetix Perps. Greater sUSD liquidity on Optimism also prevents traders from bridging back to Ethereum Mainnet in order to swap in and out of other stablecoins.
Mini-Trading Competitions: To gamify the trading experience, and incentivize trading activity, the grant will also utilize OP to fund user mini-trading competitions. This will help to gamify the trading experience, and allow for marketing to increase user acquisition, bringing short bursts of increased activity and awareness of Optimism as a destination for DeFi traders.
By allocating Optimism rewards to bolster sUSD liquidity across platforms like Velodrome and Curve, they aim to resolve the sUSD liquidity bottleneck, facilitating a smoother onboarding experience that can support whale and fund traders.
Synthetix Mission for Perps DEX
Proposal includes the creation of an advanced orderbook, various order types such as take profit, stop loss, open-source relayer, and relayer infrastructure that will enforce these advanced trading rules.
The features include:
An open-source order matching engine operated by relayers.
An on-chain settlement contract that will incorporate matched orders as Synthetix v3 positions, allowing users to trade through relayers or AMM at any time.
Advanced order types, including take profit, stop loss, trailing stop, and one-cancels-other.
Metrics of Synthetix:
Synthetix TVL - 678m total with 257m on Optimism and 435m on Ethereum Mainnet. Synthetix represents about 26% of the TVL on Optimism. Users are now able migrate staking and debt to Optimism.
Total Perps Volume - $45b+
Unique Perps Traders - 60K+
Total Perps Trades - 760k+
Total Perps Fees - 35m+
Total Sequencer Revenue: 915 ETH
Staking on Optimistic Ethereum
Transfer SNX to a Compatible Wallet: Use wallets like MetaMask, Frame, Trezor, Ledger, Coinbase Wallet, Rainbow Wallet, or other Wallet Connect-supported wallets.
Bridge Your SNX to Optimistic Ethereum: Transfer SNX from Ethereum Mainnet to Optimistic Ethereum using the Optimism Bridge.
Visit the Staking Site: Go to staking.synthetix.eth.limo and connect your wallet.
Connect to the Optimism Network: Ensure your wallet is connected to Optimistic Ethereum. Visit https://chainlist.org/ to add the network.
Bridge Ethereum for Gas Fees: Bridge Ethereum through the Optimism Gateway for fees on Optimism.
Stake Your SNX on Optimism: Use the "Stake & Borrow More" button on the Synthetix Staking app to stake your SNX.
Which plans Gearbox has?
Step 1: Launch Trading dApp on Optimism called PURE, see here:
Step 2: As soon as the first OP distribution is received, they will activate the farming and referral incentive programs, to amplify usage and trading activities
Step 3: Launch Farming on Optimism
Step 4: Work with Optimism protocols to enable and co-grant different teams and devs on Optimism to build basis trading strategies, no-liquidation leverage farming, and other ideas.
They will distribute 80% through the Farmer Program and 20% through the Trader Referral Program. Key performance indicators will be the growth of TVL and the number of users.
From receiving this grant, Thales Protocol will instantly kickstart the planned incentive programs that will be designed as such to leave no room for riskless passive farming of rewards, but instead are only accrued by organic usage and behavior beneficial for long term growth. Examples of these programs will include: Fee Rebates, Gas Tank subsidies for Account Abstraction, Loss Rebates for AMM Liquidity Providers, Active Usage Incentives and Event-based incentive buckets.
After all the incentive frameworks are put in place, the OP reward programs will start.
With this grant, Thales Protocol will target sports fans (Thales Sports Markets), option traders (Thales Digital Options) and crypto day traders (Thales Speed Markets). This grant will also passively grow the acquisition of additional integrators on Optimism that will use Thales API to build dapps and as such be eligible for OP rewards.
These users would interact with Optimism directly via all frontends supporting Thales Protocol contracts. The most notable frontends and applications are Overtime Markets, Thales Markets, Speed Markets, BookieBot, Spongly, among others.
Thales Sports Markets: A revolutionary permissionless AMM-based Sports Markets architecture which is fully open sourced and easily integratable for anyone looking to build their own Sports Markets application
Thales Digital Options: The original Thales product, a unique AMM-based Digital Options platform for all major crypto assets and supported commodities
Speed Markets: The newest addition to the suite of Thales products, allows for a unique and fun way of fast paced trading BTC and ETH intraday price movements secured by Pyth Benchmark oracle infrastructure
We can see that 30% of Grant allocation will be used for Active Usage Incentives buckets aimed towards volume drivers and one more 30% for Event-based reward buckets that aim towards incentivizing traders of certain events, such as large volume-driving sporting events for Sports Markets (2024 March Madness, 2024 Olympics, 2024 UEFA Euro etc.), trading competitions for Digital Options and Speed Markets and user-acquisition referral campaigns.
How to get a grant you can read here: https://community.optimism.io/docs/governance/get-a-grant/
On March 22, the list of new grant recipients was announced. It was 40 elected grantees from the 106 finalists of Cycle 19.
And I admit that among them there are very interesting projects for which we are in a bullish mood. Let’s focus on those projects that, in our opinion, look particularly bullish.
You can join here
Ether.fi is a platform for staking on Ethereum. One of the distinguishing features of ether.fi is that stakers control their own keys. The ether.fi mechanism also allows for the creation of a node services marketplace where stakers and node operators can register nodes to provide infrastructure services.
Ether.fi recently raised 23m$ from various investors. Token has already been released and you can check your eligibility for airdrop here:
1 April Ether.fi celebrates 939k ETH, $3.40B and only 61k away from 1M.
Now you can participate in Season 2
Season 2 is on from March 15 to June 30
Users who stake longer get 💪 rewards
Season 2 allocation is 5% of total ETHFI supply
You can learn more here:
https://etherfi.gitbook.io/etherfi/season-2-stakerank
Visit website ether.fi.
Connect your Ethereum wallet (Metamask or Rabby Wallet).
Stake ETH.
You can stake eETH minting from OP Mainnet.
Since it is built on the EigenLayer platform, you will also start earning EigenLayer points as well as ether.fi bonus points.
And don’t forget about ecosystem partners:
We have already told you about Pendle and RedStone in Newsletter #…., you can find details there.
Also you can use Omni for triple rewards. Base users everywhere will enjoy access to leading LRTs like EtherFi thanks to Omni’s interoperability advancements.
Join here
Kelp DAO is focused on building Liquid Restaking Solutions for public blockchain networks. The Kelp DAO is currently building an LRT solution, rsETH, on EigenLayer for Ethereum. rsETH is a Liquid Restaked Token (LRT) issued by Kelp DAO designed to offer liquidity to illiquid assets deposited into restaking platforms, such as EigenLayer. It aims to address the risks and challenges posed by the current offering of restaking.
Kelp DAO doesn’t have their own governance token but has launched a points program called Kelp Miles and hinted at rewarding users. To start earning Kelp miles and EigenLayer points, stake ETH or other LSTs like stETH or provide liquidity to the rsETH pools. Users who collect Kelp Miles will likely get an airdrop if they launch their own token.
Step-by-Step Guide:
Visit the Kelp DAO website.
Connect your Ethereum or Arbitrum wallet.
You will need ETH or other LSTs like stETH, ETHx or sfrxETH.
Now stake it on Kelp DAO.
You will get Kelp DAO’s liquid staking token rsETH.
You will now start earning yield as well as Kelp Miles and EigenLayer points.
Also, click on “DeFi” and provide liquidity to one of the available rsETH pools to earn more Kelp Miles.
Go to “Dashboard” and refer your friends to earn 10% Kelp Miles from each referral.
They’ve also launched a non-governance token called “KEP” for users to convert their EigenLayer points to a tradable token. For more info regarding KEP, see this tweet.
They don’t have a governance token yet but have hinted at rewarding users who collect Kelp Miles.
So, the users who collect Kelp Miles will likely get an airdrop if their token goes live.
You could also become eligible for the EigenLayer speculative airdrop for earning EigenLayer points.
On their proposal KelpDAO are saying that 40k OP will be allocated to grow liquidity. So we should expect them on Velodrome.
We can see 3 proposals by Velodrome:
1. Growth Experiment: 200k OP distributed like this during 10weeks: 20k for incentivizing voting incentives 5k as lock bonus
2. Velodrome Dex: 100k OP Slipstream (which is already live) will see some pools incentivized in order to vampire attack Uniswap volume. During 10 weeks.
Velodrome released Slipstream, a novel implementation to Concentrated Liquidity pools powered by Velodrome’s incentives, in the first week of March 2024. Slipstream aims to generate 4–5 times more trading volume and fees per TVL than current pools. It is designed for high-volume, lower volatility token pairs and will complement existing pools to expand Velodrome’s tools for acquiring volume.
Slipstream have several key features that will make Velodrome an ideal platform to support perp DEX trading:
Tick Spacing Refinements: with Slipstream, VELO emissions incentivize liquidity to build around the active price range, deepening pools and allowing wider tick spaces to outcompete fee-only DEXes. Wider tick spacing will maintain the user friendliness for LPs, reducing the need for liquidity rebalancing.
Oracle Updates: providing cutting-edge on-chain data to facilitate integration with the broader ecosystem.
Custom Fee Algorithm: algorithm dynamically adjusts fees, ensuring maximum rewards for veVELO voters and LPs under various market conditions.
Optimized Fee Structure: balancing reward generation for veVELO voters while maintaining low fees remain competitive.
3. LST support: 100k OP During 10 to 15 weeks. 15% to 20% voting incentives matched using a max of 12k OP per week
Velodrome Onboard one new LST provider to Optimism and increase adoption of LST’s on Optimism/Velodrome
Velodrome's program increased LST TVL on Velodrome by around 75% during this grant program, from a base of $20M in August 2023 to $35M in February 2024.
In the same period, Velodrome onboarded Metapool, unSHETH and Etherfi from ETH mainnet to Optimism, with the latter two planning to deploy a pool and incentives in the following weeks.
Velodrome in close touch with several other LST protocols, including Stader, Origin, Renzo, Ankr, Genesis, Inception, Stakewise and Redacted Cartel. However, several of these projects have repeatedly mentioned that the incentives made available in other L2s, especially Arbitrum, have made it more attractive as networks in which to prioritize deployment as part of their expansion to Layer 2s.
Velodrome has several advantages to supporting sUSD liquidity. sUSD was previously incentivized by Synthetix with what is equivalent to around $3K in OP/week today and was easily able to achieve close to $15M in liquidity. However, this liquidity decreased once the pool was no longer incentivized and activity on sUSD dried up which poses a barrier to onboarding new users to Synthetix specific perps.
Synthetix is a decentralized protocol providing liquidity and derivative infrastructure for onchain derivative protocols on Optimism, featuring Synthetix Perps as its flagship product.
This platform facilitates a range of DeFi applications, including but not limited to Kwenta Perps, Polynomial Perps, dHEDGE / Toros Vaults, Valio Vaults, and facilitating atomic swaps with 1inch/Curve. As a pioneering protocol on Optimism, Synthetix was the first to launch, demonstrating a strong commitment to the network's growth and stability by betting early on its success.
Synthetix Growth Grant
Synthetix aims to align with the objectives of the Optimism Growth Grants by enhancing user acquisition, increasing capital inflow and migration from CEXs, and boosting the overall economic activity on Optimism Mainnet (and across the Superchain). The strategy involves leveraging the incentivization of Synthetix Perps to attract and retain users. Furthermore, the inherently composable and permissionless nature of Synthetix allows developers to create and integrate their DeFi applications, facilitating a broader utility and adoption of the Optimism network. This approach is designed to directly contribute to the expansion and diversification of Optimism's ecosystem by encouraging the development of new applications and the influx of new users and capital.
Receiving this grant will directly enhance the user experience, with a structured approach focusing on improving liquidity, reducing costs for onboarding traders, and supporting gamified competitions to facilitate a community among traders.
The purposes of Synthetix:
Enhancing sUSD Liquidity: The grant will bolster the liquidity of sUSD, Synthetix's primary stablecoin. Enhanced liquidity makes it easier for perpetual futures traders to use sUSD for margin trading, thereby increasing the accessibility of trading on Synthetix Perps. Greater sUSD liquidity on Optimism also prevents traders from bridging back to Ethereum Mainnet in order to swap in and out of other stablecoins.
Mini-Trading Competitions: To gamify the trading experience, and incentivize trading activity, the grant will also utilize OP to fund user mini-trading competitions. This will help to gamify the trading experience, and allow for marketing to increase user acquisition, bringing short bursts of increased activity and awareness of Optimism as a destination for DeFi traders.
By allocating Optimism rewards to bolster sUSD liquidity across platforms like Velodrome and Curve, they aim to resolve the sUSD liquidity bottleneck, facilitating a smoother onboarding experience that can support whale and fund traders.
Synthetix Mission for Perps DEX
Proposal includes the creation of an advanced orderbook, various order types such as take profit, stop loss, open-source relayer, and relayer infrastructure that will enforce these advanced trading rules.
The features include:
An open-source order matching engine operated by relayers.
An on-chain settlement contract that will incorporate matched orders as Synthetix v3 positions, allowing users to trade through relayers or AMM at any time.
Advanced order types, including take profit, stop loss, trailing stop, and one-cancels-other.
Metrics of Synthetix:
Synthetix TVL - 678m total with 257m on Optimism and 435m on Ethereum Mainnet. Synthetix represents about 26% of the TVL on Optimism. Users are now able migrate staking and debt to Optimism.
Total Perps Volume - $45b+
Unique Perps Traders - 60K+
Total Perps Trades - 760k+
Total Perps Fees - 35m+
Total Sequencer Revenue: 915 ETH
Staking on Optimistic Ethereum
Transfer SNX to a Compatible Wallet: Use wallets like MetaMask, Frame, Trezor, Ledger, Coinbase Wallet, Rainbow Wallet, or other Wallet Connect-supported wallets.
Bridge Your SNX to Optimistic Ethereum: Transfer SNX from Ethereum Mainnet to Optimistic Ethereum using the Optimism Bridge.
Visit the Staking Site: Go to staking.synthetix.eth.limo and connect your wallet.
Connect to the Optimism Network: Ensure your wallet is connected to Optimistic Ethereum. Visit https://chainlist.org/ to add the network.
Bridge Ethereum for Gas Fees: Bridge Ethereum through the Optimism Gateway for fees on Optimism.
Stake Your SNX on Optimism: Use the "Stake & Borrow More" button on the Synthetix Staking app to stake your SNX.
Which plans Gearbox has?
Step 1: Launch Trading dApp on Optimism called PURE, see here:
Step 2: As soon as the first OP distribution is received, they will activate the farming and referral incentive programs, to amplify usage and trading activities
Step 3: Launch Farming on Optimism
Step 4: Work with Optimism protocols to enable and co-grant different teams and devs on Optimism to build basis trading strategies, no-liquidation leverage farming, and other ideas.
They will distribute 80% through the Farmer Program and 20% through the Trader Referral Program. Key performance indicators will be the growth of TVL and the number of users.
From receiving this grant, Thales Protocol will instantly kickstart the planned incentive programs that will be designed as such to leave no room for riskless passive farming of rewards, but instead are only accrued by organic usage and behavior beneficial for long term growth. Examples of these programs will include: Fee Rebates, Gas Tank subsidies for Account Abstraction, Loss Rebates for AMM Liquidity Providers, Active Usage Incentives and Event-based incentive buckets.
After all the incentive frameworks are put in place, the OP reward programs will start.
With this grant, Thales Protocol will target sports fans (Thales Sports Markets), option traders (Thales Digital Options) and crypto day traders (Thales Speed Markets). This grant will also passively grow the acquisition of additional integrators on Optimism that will use Thales API to build dapps and as such be eligible for OP rewards.
These users would interact with Optimism directly via all frontends supporting Thales Protocol contracts. The most notable frontends and applications are Overtime Markets, Thales Markets, Speed Markets, BookieBot, Spongly, among others.
Thales Sports Markets: A revolutionary permissionless AMM-based Sports Markets architecture which is fully open sourced and easily integratable for anyone looking to build their own Sports Markets application
Thales Digital Options: The original Thales product, a unique AMM-based Digital Options platform for all major crypto assets and supported commodities
Speed Markets: The newest addition to the suite of Thales products, allows for a unique and fun way of fast paced trading BTC and ETH intraday price movements secured by Pyth Benchmark oracle infrastructure
We can see that 30% of Grant allocation will be used for Active Usage Incentives buckets aimed towards volume drivers and one more 30% for Event-based reward buckets that aim towards incentivizing traders of certain events, such as large volume-driving sporting events for Sports Markets (2024 March Madness, 2024 Olympics, 2024 UEFA Euro etc.), trading competitions for Digital Options and Speed Markets and user-acquisition referral campaigns.
How to get a grant you can read here: https://community.optimism.io/docs/governance/get-a-grant/
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