Optimism Governance Fund
As an active protocol on the Optimism network, we were included in the very first round of OP grants. Layer2DAO received a 300,000 OP allocation to be used to grow the Optimism ecosystem. We created the following plan to deploy our allocation:
Layer2DAO’s stated mission as a DAO is to expand the Ethereum L2 ecosystem and invest in L2 ecosystem projects. As such the DAO aims to use part of its Optimism Fund grant to incentivize high-impact Optimism protocols.
Layer2DAO is going to use 240,000 OP tokens to create the OPIncubator project that will incentivise projects that run on Optimism. The first high-impact project that Layer2DAO selected for this initiative was Thales Protocol. In addition to sending Thales 27,500 $OP tokens to provide economics support, the Layer2DAO community has also hosted Thales in the community Discord and will be working on continuing to find ways to help support Thales be successful. We intend to sell this NFT for OP tokens. We are aiming for access to the first round of voting to be economically neutral for a portion of our Early Adopter user base. (The NFT launched and has since been used as the mechanism for voting (by holding in a user's wallet, leading to nearly 100% voter participation on Snapshot.)
Layer2DAO identified an Optimism native NFT project and developer and used 2,000 $OP tokens to support the artistic design and a community member created the NFT for Layer2DAO. Six successful projects will be awarded 27,500 OP each over six separate funding rounds (thus completing the 165,000 OP distribution).
We intend the sale of the NFT to be economically neutral for our early adopters by incentivizing them to participate and vote in the six projects.
Liquidity Mining incentives are a tried and true way to build large pools of liquidity, and the intent is to use tokens to incentivize the further adoption of the $L2DAO token and protocol.