A quick look at the distribution of 36 million OPs in the Optimism Governance Fund

In Optimism’s 230 million OP governance fund, 36 million OP will be allocated to 25 ecological projects in phase 0, and the proposed allocation plan has been voted on.

In addition to Optimism’s valuable airdrop, tokens that accounted for 5.4% of the total initial token supply (about 230 million pieces) were allocated to the governance fund, which was divided into two stages: Phase 0 and Phase 1, in which the governance fund Voting for all 25 projects in Phase 0 has been passed, and a total of approximately 36 million tokens will be distributed.

Governance Fund Phase 1 will allocate the remaining nearly 200 million tokens to projects in the Optimism ecosystem until the governance fund is exhausted, the first set of voting in this phase has also been opened, and this round of proposals has been approved by a clear representative of the project Including ParaSwap, Optimistic Railway, dForce, GYSR, Mean Finance, Raptor, Balancer and BeethovenX, Summa, WardenSwap, Pickle Finance. In addition, Ooki Protocol, Infinity Wallet, Beefy, 0xHabitat, Thales have also submitted proposals but are currently not approved by explicit representatives.

This article will summarize the specific token distribution methods of these 25 projects in the Statistical Governance Fund Phase 0 . In phase 0, the number of tokens obtained by each project is based on the snapshot taken at 12:00 UTC on April 1, 2022 and obtained through on-chain indicators such as lock-up amount, 30-day average daily transaction volume, etc., divided into There are three levels of 300,000 OP, 1 million and 3 million OP, and native projects that exist only in Optimism (or in Ethereum and Optimism) can get a triple multiplier.

A quick look at the distribution of 36 million OPs in the Optimism Governance Fund

Among them, Perpetual Protocol and Synthetix received the most tokens with 9 million each, Lyra also received 3 million, and Chainlink, Uniswap V3, Hop Protocol, Stargate Finance, Celer and Synapse all received 1 million.

A quick look at the distribution of 36 million OPs in the Optimism Governance Fund

Band Protocol and LayerZero did not appear in the voting cycle in the chart above.

Synthetix (9 million OP)

Synthtix can allocate a total of 9 million OPs, which will be distributed within 6 months. Among them, 2 million are planned to be used as grants, 3 million are used for sUSD liquidity and bridge incentives, and 4 million are used for to incentivize the SNX/sUSD pool on Optimism. The OP token distribution proposed by Synthtix governance is primarily intended to incentivize SNX stakers to migrate from the Ethereum mainnet to Optimism.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-synthetix/1381

Perpetual Protocol (9 million OP)

Perpetual Protocol plans to distribute these 9 million OPs for dinner in 4 months to 1 year. Perpetual Protocol said that its token holders recently passed new token economic proposals, including three plans for liquidity acquisition, liquidity mining and builder grants. Among the liquidity mining plans, Perpetual Protocol plans to pass The vePERP model deploys OP incentives, has already formed an initial partnership with Frax and Terra to incentivize the use of FRAX and UST on OP, and plans to replicate this to build and incentivize an ecosystem of different mortgage types on OP system, so it is recommended to allocate 8 million tokens in this regard.

In addition, Perpetual Protocol also plans to continue to expand its grant program and have partners join Optimism, specifically, grants (allocating 500,000 OP) for projects that integrate and build tools etc. on top of Perpetual Protocol, and also Will support the guidance of partners in terms of lock-up amount (distribution of 500,000 OP).

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-perpetual-protocol/201

Lyra Finance (3 million OP)

Lyra is a Synthetix ecological second-layer option agreement. Among the 3 million OPs allocated, it is planned to be distributed to Lyra builders (600,000), Lyra liquidity providers (1.7 million), traders ( 500,000) and the ecosystem (200,000). The exact number of allocations in each category has not yet been finalized.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-lyra-finance/202

Celer Network (1 million OP)

Celer Network plans to use 650,000 tokens for the liquidity mining plan of the cBridge pool based on Optimism, 150,000 tokens to reduce the user threshold cost, and 200,000 tokens to be used for cross-chain DApp builder grants to help Improved UX and Optimism growth.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-celer-network/1749

Hop Protocol (1 million OP)

Hop Protocol’s OP distribution proposal stated that the allocated 1 million OPs will be distributed to each user who joins the Optimism network using Hop Protocol, and 80% of the gas fee, AMM LP fee and bonder fee will be refunded in the form of OP tokens (excluding AMM rates). In addition, users who regularly bridge funds will receive OP rewards.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-hop-protocol/944

Stargate Finance (1 million OP)

Stargate, a stablecoin cross-chain bridge based on the cross-chain interoperability protocol LayerZero, plans to create a liquidity mining program with 700,000 OP rewards at Optimism to help attract users to bring liquidity to Optimism, and will also provide integration Eligible partners of the Stargate widget offer 300,000 OP tokens.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-stargate-finance/721

Synapse Protocol (1 million OP)

Synapse Protocol is also a cross-chain communication network, and plans to distribute the allocated OP tokens to developers in the Synapse ecosystem (150,000 OP), its stablecoin pool liquidity providers and users on Optimism (450,000 OP) and token holders (400,000).

On the developer side, Synapse Protocol will use part of the OP to fund any community tool or application to help users on other chains connect with Optimism, and to help existing Optimism projects make better use of cross-chain liquidity. On the token holder side, the proposal proposes to create a new SYN/stablecoin pool on Curve Optimism, which will direct a portion of the OP to incentivize the pool to ensure proper liquidity.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-synapse-protocol/928

Chianlink (1 million OP)

Chianlink will award OP tokens to Chainlink Node Operators (NOPs) and other ecosystem participants over time to support and encourage building on Optimism.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-chainlink/1701

Uniswap (1 million)

The Uniswap Grants Program (UGP) will continue to support these projects and initiatives of the Optimism Uniswap ecosystem, 20% of which will be used to fund Optimistic-Uniswap builders; the remaining 80% will be used as liquidity mining incentives, and specific implementation will be released later proposal.

Proposed allocation proposal: https://gov.optimism.io/t/gf-phase-0-proposal-uniswap/2133

Rubicon (900,000 OP)

Rubicon is a DEX with an order book model, and currently only Optimism is live. Rubicon plans to use these OPs to incentivize liquidity providers (540,000 OPs), reward early users (135,000 OPs) through airdrops, and launch a Rubicon grant program for Optimism-based developers (135,000 OPs), with an additional 9 10,000 coins will be used in the OP liquidity pool to ensure the depth and liquidity of the OP order book during OP Summer and beyond.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-rubicon/794

Zipswap (900,000)

ZipSwap is a native DEX of the second-layer network of the Optimistic Rollup scheme. It will allocate 70% of the OP allocation as a gas fee return to traders on Zipswap (full or partial return), and the other 30% will be used to motivate liquidity. At the same time, the introduction of Improved token economics.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-zipswap/1131

Thales (900,000)

Thales is a Synthetix ecological derivatives protocol, which will allocate 360,000 OPs to Thales product users, and 135,000 tokens will be awarded to protocol users who are also THALES pledgers. In addition, Thales will distribute 315,000 tokens to THALES/ETH liquidity providers in 20 weeks.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-thales/1078

Aelin Protocol (900,000)

Aelin Protocol is a decentralized financing protocol that will distribute 40% of the OP allocation to LP stakers (AELIN/ETH) and 60% for the pool incentive program.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-aelin-protocol/1157

Polynomial Protocol (900,000)

Polynomial Protocol is a DeFi derivatives protocol on Optimism, which will allocate 180,000 OPs to Polynomial Earn Vaults users, 450,000 OPs will be used as liquidity mining rewards for new users, and the rest will be used as grants, etc.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-polynomial-protocol/1625

Kwenta (900,000 pieces)

Kwenta will focus on using OP to attract traders from other chains to Kwenta on Optimism and rewarding DAO contributors.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-kwenta-protocol/1122

Pika Protocol (900,000)

Pika Protocol is Optimism’s native decentralized perpetual contract protocol, which will reward original supporters (30%) and future traders (70%) with 150,000 OPs; 600,000 tokens will be used as liquidity Incentives, of which 20% are given to early supporters and 80% to future users; 150,000 OPs are used as grants.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-pika-protocol/1103

Connext (300,000)

Connext is a cross-chain protocol that will reward 250,000 OPs to its stable exchange AMM LP on Optimism, and another 50,000 tokens will be put into Sponsor Vaults as a gas subsidy for transfers to Optimism.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-connext/851

Layer2DAO (300,000)

Layer2DAO is expanding the Ethereum L2 ecosystem and investing in L2 ecosystem projects, will use its treasury to invest in high-impact L2 protocols and ecosystem games, and provide diversified venture funds.

Layer2DAO proposes to use 240,000 OP to create an incubator “OPIncubator”, which will invest in projects running on Optimism, and the remaining 60,000 tokens will be used as incentives for users to participate in the new L2DAO/OP LP.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-layer2dao/1198

Clipper (300,000 pieces)

Clipper is a decentralized trading platform built by Shipyard Software for retail traders. It plans to allocate 35% of OP to incentivize trading, 20% to restricted liquidity mining, and 15% to incentivize builders to integrate and support Clipper. Marketer structure, 20% is allocated to Clipper’s Adventure Series, and the other 10% is airdropped to users or gas compensation who have previously traded or deposited liquidity on Clipper’s CLP (on Optimism).

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-clipper/1322

1inch Network (300,000)

1inch will incentivize the usage and growth of 1inch Network on Optimism, such as airdrops for top wallets that top up the 1inch Wallet App in Ethereum or Optimism.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-1inch-network/655

Slingshot (300,000)

Slingshot will use OP allocation to incentivize trading volume and trading users in Optimism, and will create a tiered incentive plan.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-slingshot/1326

Gelato Network (300,000)

The Gelato Network Ethereum smart contract automation tool will subsidize the use of the Gelato infrastructure network with 250,000 OP tokens, and another 50,000 will be used as a Gelato/OP Builder bounty.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-gelato/873

Aave (300,000)

Aave expects that 2/3 of OP’s allocation will be used for builder rewards to build and grow the OP ecosystem on Aave V3 Optimism; 1/3 will be used for activities focused on the Optimism ecosystem, such as sponsoring DeFi events or distributing as prizes For hackathon builders.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-aave/1712

WePiggy (300,000)

WePiggy is a multi-chain lending protocol, hoping to use these OPs to stimulate the long-term construction and governance of the Optimism ecosystem, as well as reward WePiggy early supporters and attract more liquidity to the Optimism ecosystem. Specifically, WePiggy will airdrop 60,000 OP to users who deposit funds into WePiggy (Optimism Branch) in the early period (November 15, 2021 to April 27, 2022), and the reward will be based on the liquidity provided by users. Proportional distribution; another 240,000 tokens will incentivize long-term depositors.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-wepiggy/437

0x (300,000)

The proposal states that the 0xAPI, which has achieved $27 million in trading volume since its deployment to Optimism, would allocate the full OP to the 0x grant program for those seeking to combine 0x’s deep and easily accessible liquidity with the Optimism architecture. project.

Proposed distribution proposal: https://gov.optimism.io/t/gf-phase-0-proposal-0x-zeroex/1299

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/a-quick-look-at-the-distribution-of-36-million-ops-in-the-optimism-governance-fund/
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