Profile of Exosphere in Optimism
Posts by Exosphere
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L2DAO Investigation: Summary
by Exosphere - No Role
Posted on: March 27, 2023, 10:55 p.m.
Content: Layer 2 DAO’s response to the accusations of grant misuse can be found here: Layer 2 DAO Statement Regarding OPIncubator Grants 4 and 5 ?Monitoring Dear Optimism Community, We are writing to express our appreciation for the Optimism Foundation’s engagement with us regarding the issue surrounding the grants awarded to NFT Earth and LFGrow as part of our OPIncubator program. Some members of the community perceive the transfer of OP tokens to NFT Earth and LFGrow, and the subsequent conversion to USDC to pay for the costs of launching their projects on Optimism as a violation of the underlying Optimism Governance Round 0 grant’s terms. This …
Likes: 2
Replies: 0
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Layer2DAO Statement Regarding OPIncubator Grants 4 and 5
by Exosphere - No Role
Posted on: March 27, 2023, 10:53 p.m.
Content: Dear Optimism Community, We are writing to express our appreciation for the Optimism Foundation’s engagement with us regarding the issue surrounding the grants awarded to NFT Earth and LFGrow as part of our OPIncubator program. Some members of the community perceive the transfer of OP tokens to NFT Earth and LFGrow, and the subsequent conversion to USDC to pay for the costs of launching their projects on Optimism as a violation of the underlying Optimism Governance Round 0 grant’s terms. This is due to those projects being viewed as affiliates of Layer 2 DAO because of the overlap in multisig control between the projects and Layer 2 DAO. As such, they should not have disposed of the OP funds to USDC to pay developers or contractors. Once the aforementioned projects have been identified as affiliates, their status as such would preclude the use of funds for the purpose of compensating developers, AWS, GCP or any off-chain vendor. We note, however, that our team held the view that certain individuals who participated in said projects did so in their capacity as community members of Optimism, and not as part of Layer 2 DAO. As such, they may not be considered affiliates and would not be subject to the aforementioned restriction on the use of funds. We apologize for any actual or perceived misuse of the Optimism Phase 0 grant we received. We assure you that our focus was on the growth of the Optimism community, and we acted in good faith in continuing to provide funds for different needs on Optimism. We would like to emphasize that this should not reflect negatively on the recipients of other OPIncubator grants or the larger Layer 2 DAO community. We also want to highlight that we are not aware of anyone directing funds to their personal wallets for any purposes aside from covering external hard costs to their projects, and the funds were appropriately expended in building the projects. We have requested that the grant recipients provide detailed accounting to the Optimism community to disprove any misuse of grant funds. We remain committed to the growth and adoption of Optimism and the larger L 2 ecosystem and appreciate the community’s attention to this matter.
Likes: 8
Replies: 1
Replies:
- alexcutlerdoteth: Exosphere:
regarding the issue surrounding the grants awarded to NFT Earth and LFGrow as part of our OPIncubator program.
Exosphere:
This is due to those projects being viewed as affiliates of Layer2DAO because of the overlap in multisig control between the projects and Layer2DAO.
Can you provide any evidence as to the existence of LFGGrow DAO? Is there a Discord? Any record of DAO governance? Snapshot votes? Who were the decision makers in moving all funds from the multisig to 20 different wallets and for what purpose were they moved?
It is documented that L2Earth and LFGGrow have the same multisigs signers and the Layer2DAO team itself said they control them. Why are you referring to them as “affiliates” if your organization controlled the mutlsigs? Why are you suggesting you need to request the “grant recipients provide detailed accounting” if multisigs controlled by your team were the ones who made the transactions?
Can you please formally document the signers on the L2DAO / NFTEarth / LFGrow multisigs to help us understand the composition of each team / multisig? Can you help us understand what it literally meant that these wallets were controlled by L2DAO?
Exosphere:
We also want to highlight that we are not aware of anyone directing funds to their personal wallets for any purposes aside from covering external hard costs to their projects, and the funds were appropriately expended in building the projects.
Can you explain why any payments to individuals covering costs would require funds to be moved through multiple wallets before hitting the Coinbase account used by Weston? Can you explain what costs were expended specifically for LFGGrow a project with no discoverable footprint or product?
You mention “compensating developers, AWS, GCP or any off-chain vendor”, but Weston mentions explicitly above these funds were NOT meant to support the “NFTEarth = Exchange”. What developer costs, AWS costs, and GCP costs did LFGDAO have? And why were NFTEarth devs being paid from LFGrow?
Can you explain the purpose and justification for the other activities these wallets engaged in?
Can you explain why only two signers sign multi-sig transactions? And the evidence that suggests they may both be wallets controlled by @0xWeston?
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L2DAO Investigation: Summary
by Exosphere - No Role
Posted on: March 27, 2023, 6:55 p.m.
Content: Layer 2 DAO’s response to the accusations of grant misuse can be found here:
Layer 2 DAO Statement Regarding OPIncubator Grants 4 and 5 ?Monitoring
Dear Optimism Community,
We are writing to express our appreciation for the Optimism Foundation’s engagement with us regarding the issue surrounding the grants awarded to NFT Earth and LFGrow as part of our OPIncubator program.
Some members of the community perceive the transfer of OP tokens to NFT Earth and LFGrow, and the subsequent conversion to USDC to pay for the costs of launching their projects on Optimism as a violation of the underlying Optimism Governance Round 0 grant’s terms. This …
Likes: 2
Replies: 0
No replies yet.
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Layer2DAO Statement Regarding OPIncubator Grants 4 and 5
by Exosphere - No Role
Posted on: March 27, 2023, 6:53 p.m.
Content: Dear Optimism Community,
We are writing to express our appreciation for the Optimism Foundation’s engagement with us regarding the issue surrounding the grants awarded to NFT Earth and LFGrow as part of our OPIncubator program.
Some members of the community perceive the transfer of OP tokens to NFT Earth and LFGrow, and the subsequent conversion to USDC to pay for the costs of launching their projects on Optimism as a violation of the underlying Optimism Governance Round 0 grant’s terms. This is due to those projects being viewed as affiliates of Layer 2 DAO because of the overlap in multisig control between the projects and Layer 2 DAO. As such, they should not have disposed of the OP funds to USDC to pay developers or contractors.
Once the aforementioned projects have been identified as affiliates, their status as such would preclude the use of funds for the purpose of compensating developers, AWS, GCP or any off-chain vendor. We note, however, that our team held the view that certain individuals who participated in said projects did so in their capacity as community members of Optimism, and not as part of Layer 2 DAO. As such, they may not be considered affiliates and would not be subject to the aforementioned restriction on the use of funds.
We apologize for any actual or perceived misuse of the Optimism Phase 0 grant we received. We assure you that our focus was on the growth of the Optimism community, and we acted in good faith in continuing to provide funds for different needs on Optimism. We would like to emphasize that this should not reflect negatively on the recipients of other OPIncubator grants or the larger Layer 2 DAO community. We also want to highlight that we are not aware of anyone directing funds to their personal wallets for any purposes aside from covering external hard costs to their projects, and the funds were appropriately expended in building the projects. We have requested that the grant recipients provide detailed accounting to the Optimism community to disprove any misuse of grant funds.
We remain committed to the growth and adoption of Optimism and the larger L 2 ecosystem and appreciate the community’s attention to this matter.
Likes: 8
Replies: 1
Replies:
- alexcutlerdoteth: Exosphere:
regarding the issue surrounding the grants awarded to NFT Earth and LFGrow as part of our OPIncubator program.
Exosphere:
This is due to those projects being viewed as affiliates of Layer2DAO because of the overlap in multisig control between the projects and Layer2DAO.
Can you provide any evidence as to the existence of LFGGrow DAO? Is there a Discord? Any record of DAO governance? Snapshot votes? Who were the decision makers in moving all funds from the multisig to 20 different wallets and for what purpose were they moved?
It is documented that L2Earth and LFGGrow have the same multisigs signers and the Layer2DAO team itself said they control them. Why are you referring to them as “affiliates” if your organization controlled the mutlsigs? Why are you suggesting you need to request the “grant recipients provide detailed accounting” if multisigs controlled by your team were the ones who made the transactions?
Can you please formally document the signers on the L2DAO / NFTEarth / LFGrow multisigs to help us understand the composition of each team / multisig? Can you help us understand what it literally meant that these wallets were controlled by L2DAO?
Exosphere:
We also want to highlight that we are not aware of anyone directing funds to their personal wallets for any purposes aside from covering external hard costs to their projects, and the funds were appropriately expended in building the projects.
Can you explain why any payments to individuals covering costs would require funds to be moved through multiple wallets before hitting the Coinbase account used by Weston? Can you explain what costs were expended specifically for LFGGrow a project with no discoverable footprint or product?
You mention “compensating developers, AWS, GCP or any off-chain vendor”, but Weston mentions explicitly above these funds were NOT meant to support the “NFTEarth = Exchange”. What developer costs, AWS costs, and GCP costs did LFGDAO have? And why were NFTEarth devs being paid from LFGrow?
Can you explain the purpose and justification for the other activities these wallets engaged in?
Can you explain why only two signers sign multi-sig transactions? And the evidence that suggests they may both be wallets controlled by @0xWeston?
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Request for Community Input: Decentragora’s Stance on L2DAO Allegations
by Exosphere - No Role
Posted on: March 22, 2023, 11:58 p.m.
Content: We posted our response to the lies by the Velodrome / OptiChads teams in this thread: Layer 2 DAO response to allegations from Velodrome / OptiChads [March 2023 ] ?Monitoring [Note: I’ve updated this post with additional detail provided by Train (Layer 2 DAO co-founder). My original post remains below this.] Overview of the OPIncubator program Layer 2 DAO’s Phase 0 governance grant was to create an incubator program (OPIncubator) via a grant of 27 , 500 OP tokens to six different projects. Those who wanted to participate would purchase an NFT to be able to vote on the incubation. The goal of this was to increase the usage and grow the Optimism ecosystem. Once the NFT an…
Likes: 2
Replies: 0
No replies yet.
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Investigation into potential L2DAO OP Mismanagement: Findings
by Exosphere - No Role
Posted on: March 22, 2023, 11:57 p.m.
Content: Our response to these lies can be found in this thread: Layer 2 DAO response to allegations from Velodrome / OptiChads [March 2023 ] ?Monitoring [Note: I’ve updated this post with additional detail provided by Train (Layer 2 DAO co-founder). My original post remains below this.] Overview of the OPIncubator program Layer 2 DAO’s Phase 0 governance grant was to create an incubator program (OPIncubator) via a grant of 27 , 500 OP tokens to six different projects. Those who wanted to participate would purchase an NFT to be able to vote on the incubation. The goal of this was to increase the usage and grow the Optimism ecosystem. Once the NFT an…
Likes: 2
Replies: 0
No replies yet.
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Layer2DAO response to allegations from Velodrome / OptiChads [March 2023]
by Exosphere - No Role
Posted on: March 22, 2023, 11:56 p.m.
Content: I just updated this post to include additional detail by Train, co-founder of Layer 2 DAO. This also includes all transaction history for the OPIncubator program.
Likes: 2
Replies: 2
Replies:
- Dicaso: Nice it will take a lot of work to look at these but I just opened the NFTE wallet and found the same fraud that has been pointed out multiple times in these forums. We know on chain that 55,000 OP has been embezzled already. I am wondering why the “team” you “allocated” these funds to with your 2/5 multisig market dumped, transferred the funds into new wallets and purchased NFTs from their own exchange, $NFTE, other altcoins, and performed day trades. Are these the sort of transactions that your “dao” allocated the funds for?
- Dicaso: I find it strange that my posts that have been up for hours are only flagged after the the L2DAO team shows up. This is clearly an attempt by the team to manipulate information. Optimism governance should be a censorship free zone.
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Request for Community Input: Decentragora’s Stance on L2DAO Allegations
by Exosphere - No Role
Posted on: March 22, 2023, 7:58 p.m.
Content: We posted our response to the lies by the Velodrome / OptiChads teams in this thread:
Layer 2 DAO response to allegations from Velodrome / OptiChads [March 2023 ] ?Monitoring
[Note: I’ve updated this post with additional detail provided by Train (Layer 2 DAO co-founder). My original post remains below this.]
Overview of the OPIncubator program
Layer 2 DAO’s Phase 0 governance grant was to create an incubator program (OPIncubator) via a grant of 27 , 500 OP tokens to six different projects. Those who wanted to participate would purchase an NFT to be able to vote on the incubation. The goal of this was to increase the usage and grow the Optimism ecosystem.
Once the NFT an…
Likes: 2
Replies: 0
No replies yet.
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Investigation into potential L2DAO OP Mismanagement: Findings
by Exosphere - No Role
Posted on: March 22, 2023, 7:57 p.m.
Content: Our response to these lies can be found in this thread:
Layer 2 DAO response to allegations from Velodrome / OptiChads [March 2023 ] ?Monitoring
[Note: I’ve updated this post with additional detail provided by Train (Layer 2 DAO co-founder). My original post remains below this.]
Overview of the OPIncubator program
Layer 2 DAO’s Phase 0 governance grant was to create an incubator program (OPIncubator) via a grant of 27 , 500 OP tokens to six different projects. Those who wanted to participate would purchase an NFT to be able to vote on the incubation. The goal of this was to increase the usage and grow the Optimism ecosystem.
Once the NFT an…
Likes: 2
Replies: 0
No replies yet.
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Layer2DAO response to allegations from Velodrome [November 2022]
by Exosphere - No Role
Posted on: March 21, 2023, 4:11 p.m.
Content: [This message was originally posted on Optimism Discord #gov-general on Nov 9 2022 . Replicating it here per the request of Lavande] We have been working with the OP Foundation and provided them with all requested information and will continue to work with them as needed. All assets have been returned to Optimism and all OP tokens repurchased. As noted by @lavande :sparkles::red_circle: there was not a no-sale policy in place when we received our grant and at the time. That being said, we had no intentions of moving any OP assets off chain under normal circumstances. To clarify, this is the event that caused our team to jump into action and move all our assets: Optimism Token Flash Crashes 10 % on False Rumors of a Major Hack 6 At the time DAO team members reached out to the Foundation and other members in the community and received very little information or understanding of what was happening. While the exploit proved to be false, no one knew it as it was happening nor the extent to which it would affect the chain. We reacted quickly in the moment while also continuing to follow through on our governance proposal. It was decided to protect the assets in order to compete the original proposal should there be a larger issue with the chain. Hindsight is 20 / 20 and our team agrees that once the dust had settled the tokens should have been repurchased in the days following. Instead, we move asset back bit-by-bit and continued to build out the NFT and the OPIncubator program during this time with great success. We also launched two other NFTs on OP and continued to build on the chain. As a DAO we are focused on driving TVL and usage to L 2 s, and Optimism is a big part of our focus. As I explained in my post on the gov forum earlier, we’ve been steadily buying back OP since the initial sale in order to fulfill the proposal obligations (and we were going to continue that until all OP was repurchased). We also have been distributing those tokens as part of fulfilling our proposal. 91 , 050 OP as of 11 / 9 / 22 has been spent in accordance with the proposal and the balance remains in the multi-sig as you have already seen. Last week we awarded an additional 27 . 5 k OP tokens in our second round of the OPIncubator program that will go out shortly to the grant recipient project. There continues to be a dialogue that somehow Layer 2 DAO made a $ 200 k profit in this process. The statement in categorically false and the narrative is being pushed while knowingly being false in order to harm Layer 2 DAO as part of a personal vendetta by Velodrome team members against one of our team members (as they confirmed on the governance call yesterday). The attached spreadsheet shows all the transaction amounts, as well as the delta in value of the ETH opposed to OP. The drop in value of ETH is roughly 30 % and the drop in OP token value between sale and repurchase was 32 . 27 %. As you can see from the repurchasing line items it was often down at a loss to the original sale value as ETH dropped faster in value up until October. It has always been our intent to repurchase all tokens and fulfill our obligations to our governance fund proposal. The spreadsheet does not include bridging and swap fees, which have been substantial. op-trades 1280 × 663 87 . 1 KB We have continued to develop new projects in the OP space and will continue to do so. The intimidation and fear mongering towards other protocols by Velodrome team members seems counter productive to the Foundation’s goals for OP governance and the health of the community. We really hope the larger governance community and the OP Foundation can see through this and stop OP governance from being turned into a playground for bad faith actors who want to use it for carrying out their personal vendettas. Our goal is to be positive contributors to the Ethereum Layer 2 community, and have been cooperating with the OP Foundation every step along the way and provided complete transparency. I am happy to answer any further good faith questions directly.
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