Profile of danftz in Optimism
Posts by danftz
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RetroPGF 3: Conflicts of Interest & Season 5 Citizens
by danftz - No Role
Posted on: Jan. 23, 2024, 4:15 p.m.
Content: First of all: I also think it would be worthwhile to consider a temporary suspension or warning for @lightclients here, as this is not really a case of malicious intent. lightclient: Beyond arguing language semantics, there needs to be reasonable caps on what constitutes being associated with an organization for income purposes (the SEC says 10 % ownership is an insider.) My split percentage is 0 . 88 %. I don’t think under any traditional framework I would be considered an insider. But for arguments sake, what if my split was 0 . 01 %? Does this still constitute self-deal? What if I am a rainbow user with XXX points and I voted for Rainbow kit? That said, I don’t find the argument convincing that just because your split percentage is quite low, it shouldn’t be considered a conflict of interest. RetroPGF’s Endgame is to create an investment market around public goods projects participating in RPGF Rounds, basically making public goods an investable “asset class” for VCs and angels. This would necessarily entail that some public goods projects have agreements entitling angel investors to x% of the RPGF earnings of a project. Now, is it really okay for an angel investor who is also a badgeholder to allocate OP to the project they have invested in? Even if their share is only 1 %? I don’t think so, and while the relation of Lightclient <> PG is obviously in many ways different, the financial upside to the individual for allocating an outsized OP amount is the same in both scenarios.
Likes: 4
Replies: 0
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RetroPGF 3: Conflicts of Interest & Season 5 Citizens
by danftz - No Role
Posted on: Jan. 23, 2024, 11:15 a.m.
Content: First of all: I also think it would be worthwhile to consider a temporary suspension or warning for @lightclients here, as this is not really a case of malicious intent.
lightclient:
Beyond arguing language semantics, there needs to be reasonable caps on what constitutes being associated with an organization for income purposes (the SEC says 10 % ownership is an insider.)
My split percentage is 0 . 88 %. I don’t think under any traditional framework I would be considered an insider. But for arguments sake, what if my split was 0 . 01 %? Does this still constitute self-deal? What if I am a rainbow user with XXX points and I voted for Rainbow kit?
That said, I don’t find the argument convincing that just because your split percentage is quite low, it shouldn’t be considered a conflict of interest.
RetroPGF’s Endgame is to create an investment market around public goods projects participating in RPGF Rounds, basically making public goods an investable “asset class” for VCs and angels. This would necessarily entail that some public goods projects have agreements entitling angel investors to x% of the RPGF earnings of a project.
Now, is it really okay for an angel investor who is also a badgeholder to allocate OP to the project they have invested in? Even if their share is only 1 %? I don’t think so, and while the relation of Lightclient <> PG is obviously in many ways different, the financial upside to the individual for allocating an outsized OP amount is the same in both scenarios.
Likes: 4
Replies: 0
No replies yet.
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[Temp Check] Burn surplus RetroPGF (+ monetary policy proposals)
by danftz - No Role
Posted on: Jan. 5, 2024, 11:27 a.m.
Content: polynya: However, after nearly 2 years in, only 40 million, or ~ 4 . 7 % would have been distributed. Current projections are radically different, calling for only 140 million OP to be distributed by the end of year 5 . This is only 16 % of the initial projections, despite the 1 extra year. To be clear, this is a more reasonable projection than the ones initially offered, but that leaves a massive overhang of 700 million $OP tokens. My understanding of the data in the OP Token Unlock spreadsheet 2 is a bit different: The forecast for FY 2 is 38 M OP distributed via RPGF, another 60 M in FY 3 , 100 M in FY 4 and an additional 140 M in FY 5 . This adds up to a total amount of ≈ 340 M OP, which will be distributed via RPGF by April 2027 . This still leaves an “overhang” of ≈ 520 M OP, but this is significantly lower than the 700 M OP mentioned. That said, it might be worth burning some of that 520 M OP overhang, but I haven’t really formed an opinion on it yet and may comment here again later when I have. Screenshot 2024 - 01 - 05 at 12 . 08 . 442544 × 350 100 KB
Likes: 5
Replies: 0
No replies yet.
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[Temp Check] Burn surplus RetroPGF (+ monetary policy proposals)
by danftz - No Role
Posted on: Jan. 5, 2024, 6:27 a.m.
Content:
polynya:
However, after nearly 2 years in, only 40 million, or ~ 4 . 7 % would have been distributed. Current projections are radically different, calling for only 140 million OP to be distributed by the end of year 5 . This is only 16 % of the initial projections, despite the 1 extra year. To be clear, this is a more reasonable projection than the ones initially offered, but that leaves a massive overhang of 700 million $OP tokens.
My understanding of the data in the OP Token Unlock spreadsheet is a bit different: The forecast for FY 2 is 38 M OP distributed via RPGF, another 60 M in FY 3 , 100 M in FY 4 and an additional 140 M in FY 5 . This adds up to a total amount of ≈ 340 M OP, which will be distributed via RPGF by April 2027 .
This still leaves an “overhang” of ≈ 520 M OP, but this is significantly lower than the 700 M OP mentioned.
That said, it might be worth burning some of that 520 M OP overhang, but I haven’t really formed an opinion on it yet and may comment here again later when I have.
Screenshot 2024 - 01 - 05 at 12 . 08 . 442544 × 350 100 KB
Likes: 5
Replies: 0
No replies yet.
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[Temp Check] Burn surplus RetroPGF (+ monetary policy proposals)
by danftz - No Role
Posted on: Jan. 5, 2024, 6:27 a.m.
Content:
polynya:
However, after nearly 2 years in, only 40 million, or ~ 4 . 7 % would have been distributed. Current projections are radically different, calling for only 140 million OP to be distributed by the end of year 5 . This is only 16 % of the initial projections, despite the 1 extra year. To be clear, this is a more reasonable projection than the ones initially offered, but that leaves a massive overhang of 700 million $OP tokens.
My understanding of the data in the OP Token Unlock spreadsheet 2 is a bit different: The forecast for FY 2 is 38 M OP distributed via RPGF, another 60 M in FY 3 , 100 M in FY 4 and an additional 140 M in FY 5 . This adds up to a total amount of ≈ 340 M OP, which will be distributed via RPGF by April 2027 .
This still leaves an “overhang” of ≈ 520 M OP, but this is significantly lower than the 700 M OP mentioned.
That said, it might be worth burning some of that 520 M OP overhang, but I haven’t really formed an opinion on it yet and may comment here again later when I have.
Screenshot 2024 - 01 - 05 at 12 . 08 . 442544 × 350 100 KB
Likes: 5
Replies: 0
No replies yet.
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Optimism Grants Changelog
by danftz - No Role
Posted on: Dec. 8, 2023, 11:18 p.m.
Content: Below is a summary of recent changes and upcoming deadlines related to the grant programs of the Optimism Collective. For more detailed information, visit optimismgrants.io 1 . Dec 2 - Dec 8 , 2023 Dec 4 , 2023 → Submissions for RFP: Superchain Safe are now closed! Dec 7 , 2023 → RetroPGF 3 voting ended! The voting period for RetroPGF Round 3 ended on December 7 . In total, more than 100 Lists were created during the one-month voting period and 502 projects (out of 643 ) reached the quorum of 17 votes. Dec 8 , 2023 → Submissions for RFP: Proof of Attendance Testnet Faucet are now closed! Upcoming: Dec 15 , 2023 19 : 00 GMT → Submission deadline for RFP: Superchain Bridge Jan 11 , 2024 → Announcement of RetroPGF 3 results Jan 17 , 2024 → Deadline for drafting Delegate Missions 3
Likes: 2
Replies: 0
No replies yet.
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Optimism Grants Changelog
by danftz - No Role
Posted on: Dec. 8, 2023, 6:18 p.m.
Content: Below is a summary of recent changes and upcoming deadlines related to the grant programs of the Optimism Collective. For more detailed information, visit optimismgrants.io.
Dec 2 - Dec 8 , 2023
Dec 4 , 2023 → Submissions for RFP: Superchain Safe are now closed!
Dec 7 , 2023 → RetroPGF 3 voting ended!
The voting period for RetroPGF Round 3 ended on December 7 . In total, more than 100 Lists were created during the one-month voting period and 502 projects (out of 643 ) reached the quorum of 17 votes.
Dec 8 , 2023 → Submissions for RFP: Proof of Attendance Testnet Faucet are now closed!
Upcoming:
Dec 15 , 2023 19 : 00 GMT → Submission deadline for RFP: Superchain Bridge
Jan 11 , 2024 → Announcement of RetroPGF 3 results
Jan 17 , 2024 → Deadline for drafting Delegate Missions
Likes: 2
Replies: 0
No replies yet.
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Optimism Grants Changelog
by danftz - No Role
Posted on: Dec. 8, 2023, 6:18 p.m.
Content: Below is a summary of recent changes and upcoming deadlines related to the grant programs of the Optimism Collective. For more detailed information, visit optimismgrants.io 1 .
Dec 2 - Dec 8 , 2023
Dec 4 , 2023 → Submissions for RFP: Superchain Safe are now closed!
Dec 7 , 2023 → RetroPGF 3 voting ended!
The voting period for RetroPGF Round 3 ended on December 7 . In total, more than 100 Lists were created during the one-month voting period and 502 projects (out of 643 ) reached the quorum of 17 votes.
Dec 8 , 2023 → Submissions for RFP: Proof of Attendance Testnet Faucet are now closed!
Upcoming:
Dec 15 , 2023 19 : 00 GMT → Submission deadline for RFP: Superchain Bridge
Jan 11 , 2024 → Announcement of RetroPGF 3 results
Jan 17 , 2024 → Deadline for drafting Delegate Missions 4
Likes: 2
Replies: 0
No replies yet.
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Optimism Grants Changelog
by danftz - No Role
Posted on: Dec. 1, 2023, 7:06 p.m.
Content: Below is a summary of recent changes and upcoming deadlines related to the grant programs of the Optimism Collective. For more detailed information, visit optimismgrants.io. Nov 18 - Dec 1 , 2023 Nov 24 , 2023 → First Mission Request draft was posted in the Forum! Gonna posted a first Mission Request draft (Real world data storage Mission Request 1 ). Other Top 100 Delegates can also create a Delegate Mission Request using this 3 template, drafts should be posted to the Forum with the tag mission-request by January 17 th. If you are not a Top 100 Delegate but have an idea for a Mission Request, post it here so that Top 100 Delegates can review it. If you haven’t yet read it, you may also want to look into the Missions v 2 : Season 5 post to get an overview of the new Missions process. Upcoming: Dec 1 , 2023 23 : 59 GMT → Submission deadline for Foundation Mission Request: Season 5 govNERDs 2 Dec 4 , 2023 19 : 00 GMT → Submission deadline for Foundation Mission (RFP) – Superchain Safe (ex. Gnosis Safe) Note: There are currently 0 applications for this RFP, so it is likely to be extended beyond the initial deadline. Dec 7 , 2023 → RetroPGF 3 voting ends Dec 8 , 2023 19 : 00 GMT → Submission deadline for Foundation Mission (RFP) – Proof of Attendance Testnet Faucet 4 Jan 17 , 2024 → Deadline for drafting Mission Requests 3
Likes: 3
Replies: 0
No replies yet.
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Optimism Grants Changelog
by danftz - No Role
Posted on: Dec. 1, 2023, 2:06 p.m.
Content: Below is a summary of recent changes and upcoming deadlines related to the grant programs of the Optimism Collective. For more detailed information, visit optimismgrants.io.
Nov 18 - Dec 1 , 2023
Nov 24 , 2023 → First Mission Request draft was posted in the Forum!
Gonna posted a first Mission Request draft (Real world data storage Mission Request 1 ). Other Top 100 Delegates can also create a Delegate Mission Request using this 4 template, drafts should be posted to the Forum with the tag mission-request by January 17 th. If you are not a Top 100 Delegate but have an idea for a Mission Request, post it here 1 so that Top 100 Delegates can review it. If you haven’t yet read it, you may also want to look into the Missions v 2 : Season 5 post to get an overview of the new Missions process.
Upcoming:
Dec 1 , 2023 23 : 59 GMT → Submission deadline for Foundation Mission Request: Season 5 govNERDs 2
Dec 4 , 2023 19 : 00 GMT → Submission deadline for Foundation Mission (RFP) – Superchain Safe (ex. Gnosis Safe)
Note: There are currently 0 applications for this RFP, so it is likely to be extended beyond the initial deadline.
Dec 7 , 2023 → RetroPGF 3 voting ends
Dec 8 , 2023 19 : 00 GMT → Submission deadline for Foundation Mission (RFP) – Proof of Attendance Testnet Faucet 4
Jan 17 , 2024 → Deadline for drafting Mission Requests 4
Likes: 3
Replies: 0
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