Optimism announced a new era for their retroactive rewards program.
Now rebranded as Retro Funding, the collective has allocated 850M OP (∼$3.3B) to the program that rewards impact across the Superchain.
Previously operating as a broad, annual event, the rewards program will now be segmented into four distinct categories, each with its own deadlines.
The goal of these changes is to refine the OP allocation process by narrowing the focus of each round, providing participants with a clearer understanding of what impact will be rewarded.
If you’re an artist or builder, keep in mind that the deadline is May, 2024.
Today we're introducing a new era of clarity for Retro Funding!
The Collective has allocated a total of 850M OP to incentivize impactful work across the @Optimism Collective and the Superchain.
The Collective has allocated a total of 850M OP to incentivize impactful work across the @Optimism Collective and the Superchain.
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This post will be included in Invest in Music's Retroactive Public Goods Funding proposal for Optimism.
Invest in Music is sponsored by Coop Records - an onchain record label.
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To share your songs - email demos@cooprecords.xyz.
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What Should I Know?
There are four categories in the Retro Funding program:
If you’re an artist, creator or builder, you should submit under the ‘Onchain Builders’ category, with deadline in May, one month from now.
This round rewards builders growing Optimism's reach and impact by attracting new users, amplifying network effects, and increasing protocol engagement across the Superchain.
Although these guidelines don’t go into the specifics on how impact will be measured under this category, we’re confident that Optimism will share more details soon.
From their announcement:
“Every Base project is eligible for Retro Funding, every Mode project is eligible for Retro Funding, every Zora project is eligible for Retro Funding, every Farcaster project is eligible for Retro Funding, every sound.xyz project is eligible for Retro Funding, every OP Chain is eligible for Retro Funding, everyone, anywhere putting the work in to improve Optimism is eligible for Retro Funding.”
Keep an eye out for Optimism updates!
Why Should I Care?
Retro Funding offers a new opportunity to be recognized for your contributions to the Optimism collective, across Base, Zora, and OP mainnet.
After distributing over 200M OP through airdrops, retros, and grants, Optimism began to actively involve artists and creators in RetroPFG III.
Culminating in the launch of the ‘We <3 the Art’’ competition, and Airdrop #4, both targeted at artists and creators.
With the deadline just one month away, we encourage artists and creators to seize this opportunity and participate, even if they were not rewarded in previous rounds.
As Optimism continues to iterate based on community feedback , remember that we will be participating in governance from Invest in Music.
If you have ideas or feedback, please join the chat, and consider delegating your voting power to us.
Good luck with the Retro Funding, and stay tuned for upcoming updates!
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Disclaimer: The content of this announcement is published in the United States of America and persons who access it agree to do so in accordance with applicable US law. Coop Records Management LLC (“CRM”) is not a wallet provider, exchange, broker, financial institution, money services business, or creditor.
The Invest in Music podcast, newsletter or other materials from CRM (collectively, “Content”) is for informational purposes only, and should not be construed as legal, tax, investment, financial or other advice. Nothing in this post or in any Content constitutes a solicitation, recommendation, endorsement, or offer by CRM or any third party service provider to buy or sell any securities or financial instruments or products. All Content is information of a general nature and does not address the circumstances of any particular individual or entity. CRM is not a fiduciary by virtue of any person’s use of or access to Content. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of Content before making any decisions based on such Content.
You should not treat any opinion expressed by Cooper Turley or others with respect to the Content as a specific inducement to make a particular NFT purchase or follow a particular strategy, but only as an expression of opinion. Before acting on information based on the Content, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own legal, tax, investment, financial or other advisors. CRM or its affiliates or clients may, directly or indirectly, have a financial interest in Content discussed.
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Join the Community
Collect the Invest in Music Pass and join the Collector Chat.
Subscribe: Newsletter | Spotify | iTunes | YouTube | RSS Feed
Follow: Twitter | Instagram | TikTok | Warpcast
Disclaimer: The content of this announcement is published in the United States of America and persons who access it agree to do so in accordance with applicable US law. Coop Records Management LLC (“CRM”) is not a wallet provider, exchange, broker, financial institution, money services business, or creditor.
The Invest in Music podcast, newsletter or other materials from CRM (collectively, “Content”) is for informational purposes only, and should not be construed as legal, tax, investment, financial or other advice. Nothing in this post or in any Content constitutes a solicitation, recommendation, endorsement, or offer by CRM or any third party service provider to buy or sell any securities or financial instruments or products. All Content is information of a general nature and does not address the circumstances of any particular individual or entity. CRM is not a fiduciary by virtue of any person’s use of or access to Content. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of Content before making any decisions based on such Content.
You should not treat any opinion expressed by Cooper Turley or others with respect to the Content as a specific inducement to make a particular NFT purchase or follow a particular strategy, but only as an expression of opinion. Before acting on information based on the Content, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own legal, tax, investment, financial or other advisors. CRM or its affiliates or clients may, directly or indirectly, have a financial interest in Content discussed.
