Project Name: Polynomial Protocol
Author Name: Salman
Defillama TVL (at snapshot): $ 0 M (approx $ 2 m)
Transactions/day (at snapshot): 150
Tier: 3
Optimism native: Yes
Revisions to metrics used:
At the time of the snapshot, Polynomial had just launched their product, and there was no DefiLlama page; therefore on the spreadsheet - it shows up as $ 0 TVL; it is up now and can be accessed by everyone at
Polynomial Protocol: TVL and stats - DefiLlama 57
Number of OP tokens to claim: 900 , 000
L 2 Recipient Address: 0 x 59672 D 112 d 680 CE 34 C 20 fF 1507197993 CC 0 bA 430
Proposal for token distribution (under 1000 words):
Polynomial provides automated option strategies for its users. As an Optimism native project, Polynomial has a direct interest in the overall success of Optimism. By receiving an allocation from the $OP governance fund, Polynomial will seek to benefit its users and the adoption of the entire Optimism ecosystem.
Goals
Polynomial has the following goals in mind:
1 . Bring more users into the Optimism ecosystem.
2 . Improve accessibility/visibility to our vaults
3 . Increase TVL
Q) How will the OP tokens be distributed?
:stopwatch: Retroactive Airdrop
Amount : 180 , 000 $OP
Criteria : Existing users of Polynomial Earn Vaults
1480 × 796 54 . 4 KB
:pick: Liquidity Mining
Amount : 450 , 000 $OP
Criteria : Future users of Polynomial Products
To incentivize the product usage on optimism, we will be giving liquidity mining rewards to future vault users of Polynomial.
We have four Earn vaults, and plan to release v 2 versions of these vaults along with Lyra’s Avalon update. We plan to distribute $OP tokens to these vaults equally for approx ~ 1 - 2 months following TGE. Before TGE, if more vaults are released, the tokens will be distributed amongst them too.
Allocation to a vault = total OP allocation * (vault capacity / total capacity of all vaults).
Newer vaults get a small multiplier (~ 1 . 5 - 2 x).
:man_genie: Grants
Amount : 128 , 580 $OP
Criteria :Contributors / Bug Bounty / Tooling / Hackathons( 20 % for early builders and 80 % for future rewards)
Polynomial will reward the grants for bug bounties, toolings(i.e: Dune Analytics, Zapper), content creations and hackathons. Several volunteer community members have been building and creating with Polynomial for the past few months, and with these grants, we look forward to having more people build with Polynomial.
:brick: Building blocks
Amount : 72 , 000 $OP
Criteria : Be an LP in Lyra
The capacity of Polynomial Vaults is directly proportional to the liquidity in Lyra.
Currently, Polynomial Vaults are almost operating at full capacity due to the inability to increase the vault size. Incentivizing LP’ing in Lyra will help us raise the vault capacity and help us bring more users to Optimism
:family: Frens of Polynomial
Amount : 69 , 420 $OP
Criteria : Be our fren
We love Optimism and are optimistic about the derivative ecosystem being built here.
We would love to pay it forward to the core devs of Optimism Native Derivative Projects :
Synthetix, Lyra, Perp, Pika, Kwenta and Thales
:person_raising_hand: Questions
Q) How will this distribution incentivize usage and liquidity on Optimism?
Polynomials bring users to Optimism which stays as long term as Optimism. Since Polynomial is still at its day 1 , we want to incentivize root level growth that can profoundly impact the Optimism ecosystem. We are also an OP native project. Hence our growth is directly aligned with OP.
Polynomial is built on top of Synthetix and Lyra. Hence all incentives will drive growth for the underlying protocols as well.
Q) Why will the incentivized users and liquidity remain after incentives dry up?
:fuelpump: Gas :
We are trying to onboard the next-gen users to web 3 ; most new users find the gas in L 1 relatively high. Hence being on OP helps drive user growth more than L 1 .
1456 × 445 69 . 1 KB
65 % of users are depositing under $ 100 . Combined with the low gas fees experienced when transacting on Optimism, this presents a relatively accessible option for onboarding new users to the option vaults.
:busts_in_silhouette: User Retention
1480 × 796 51 . 4 KB
Polynomial Earn Vaults have amassed a sizeable amount of sticky users - Unique addresses deposited against withdrawals since launch show that 78 % of the users are still in the vaults, even after the considerable selloff in the crypto markets in May.
The vaults have operated at near capacity for most of the weeks it has been live.
Q) Over what period of time will the tokens be distributed?
We intend to distribute the tokens within a 6 month timeframe, liquidity mining will be done in 1 - 2 months.
Q) How much will your project match in co-incentives?
Polynomial doesn’t have a token but we’ll match bug bounty in USDC (capped at $ 50 K)
Polynomial Protocol, an Optimism native project, proposes a token distribution plan focusing on bringing more users into the Optimism ecosystem, enhancing vault accessibility and visibility, and increasing the Total Value Locked (TVL). The token distribution includes a retroactive airdrop for existing users, liquidity mining rewards for future product users, grants for contributors and builders, incentives for LP'ing in Lyra, and tokens for core developers of Optimism native projects. The distribution aims to incentivize usage and liquidity on Optimism long-term. Token distribution will take place over six months, and bug bounty rewards will be matched in USDC.
MinimalGravitas: salman:
128,580 $OP
Thought it was strange to see this odd amount until I read further to see why you wanted a specific amount for another category… nice.
I like the balance between encouraging users (e.g. liquidity mining) and encouraging builders (e.g. grants), both seem like they will be useful for the growth of Optimism. The focus on further strengthening other parts of the OE ecosystem seems pretty sensible as well, boosting Lyra to raise your capacity for example will presumably have positive overflow effects on the growth of the whole Synthetix based group of dApps.
1-2 months for the liquidity mining period seems fairly short, how do you intend to maximize the impact it has in terms of new users over that time?
Project Name: Polynomial Protocol
Author Name: Salman
Defillama TVL (at snapshot): $ 0 M (approx $ …
Project Name: Polynomial Protocol
Author Name: Salman
Defillama TVL (at snapshot): $ 0 M (approx $ 2 m)
Transactions/day (at snapshot): 150
Tier: 3
Optimism native: Yes
Revisions to metrics used:
At the time of the snapshot, Polynomial had just launched their product, and there was no DefiLlama page; therefore on the spreadsheet - it shows up as $ 0 TVL; it is up now and can be accessed by everyone at
Polynomial Protocol: TVL and stats - DefiLlama
Number of OP tokens to claim: 900 , 000
L 2 Recipient Address: 0 x 59672 D 112 d 680 CE 34 C 20 fF 1507197993 CC 0 bA 430
Proposal for token distribution (under 1000 words):
Polynomial provides automated option strategies for its users. As an Optimism native project, Polynomial has a direct interest in the overall success of Optimism. By receiving an allocation from the $OP governance fund, Polynomial will seek to benefit its users and the adoption of the entire Optimism ecosystem.
Goals
Polynomial has the following goals in mind:
1 . Bring more users into the Optimism ecosystem.
2 . Improve accessibility/visibility to our vaults
3 . Increase TVL
Q) How will the OP tokens be distributed?
:stopwatch: Retroactive Airdrop
Amount : 180 , 000 $OP
Criteria : Existing users of Polynomial Earn Vaults
1480 × 796 54 . 4 KB
:pick: Liquidity Mining
Amount : 450 , 000 $OP
Criteria : Future users of Polynomial Products
To incentivize the product usage on optimism, we will be giving liquidity mining rewards to future vault users of Polynomial.
We have four Earn vaults, and plan to release v 2 versions of these vaults along with Lyra’s Avalon update. We plan to distribute $OP tokens to these vaults equally for approx ~ 1 - 2 months following TGE. Before TGE, if more vaults are released, the tokens will be distributed amongst them too.
Allocation to a vault = total OP allocation * (vault capacity / total capacity of all vaults).
Newer vaults get a small multiplier (~ 1 . 5 - 2 x).
:man_genie: Grants
Amount : 128 , 580 $OP
Criteria :Contributors / Bug Bounty / Tooling / Hackathons( 20 % for early builders and 80 % for future rewards)
Polynomial will reward the grants for bug bounties, toolings(i.e: Dune Analytics, Zapper), content creations and hackathons. Several volunteer community members have been building and creating with Polynomial for the past few months, and with these grants, we look forward to having more people build with Polynomial.
:brick: Building blocks
Amount : 72 , 000 $OP
Criteria : Be an LP in Lyra
The capacity of Polynomial Vaults is directly proportional to the liquidity in Lyra.
Currently, Polynomial Vaults are almost operating at full capacity due to the inability to increase the vault size. Incentivizing LP’ing in Lyra will help us raise the vault capacity and help us bring more users to Optimism
:family: Frens of Polynomial
Amount : 69 , 420 $OP
Criteria : Be our fren
We love Optimism and are optimistic about the derivative ecosystem being built here.
We would love to pay it forward to the core devs of Optimism Native Derivative Projects :
Synthetix, Lyra, Perp, Pika, Kwenta and Thales
:person_raising_hand: Questions
Q) How will this distribution incentivize usage and liquidity on Optimism?
Polynomials bring users to Optimism which stays as long term as Optimism. Since Polynomial is still at its day 1 , we want to incentivize root level growth that can profoundly impact the Optimism ecosystem. We are also an OP native project. Hence our growth is directly aligned with OP.
Polynomial is built on top of Synthetix and Lyra. Hence all incentives will drive growth for the underlying protocols as well.
Q) Why will the incentivized users and liquidity remain after incentives dry up?
:fuelpump: Gas :
We are trying to onboard the next-gen users to web 3 ; most new users find the gas in L 1 relatively high. Hence being on OP helps drive user growth more than L 1 .
1456 × 445 69 . 1 KB
65 % of users are depositing under $ 100 . Combined with the low gas fees experienced when transacting on Optimism, this presents a relatively accessible option for onboarding new users to the option vaults.
:busts_in_silhouette: User Retention
1480 × 796 51 . 4 KB
Polynomial Earn Vaults have amassed a sizeable amount of sticky users - Unique addresses deposited against withdrawals since launch show that 78 % of the users are still in the vaults, even after the considerable selloff in the crypto markets in May.
The vaults have operated at near capacity for most of the weeks it has been live.
Q) Over what period of time will the tokens be distributed?
We intend to distribute the tokens within a 6 month timeframe, liquidity mining will be done in 1 - 2 months.
Q) How much will your project match in co-incentives?
Polynomial doesn’t have a token but we’ll match bug bounty in USDC (capped at $ 50 K)
MinimalGravitas: salman:
128,580 $OP
Thought it was strange to see this odd amount until I read further to see why you wanted a specific amount for another category… nice.
I like the balance between encouraging users (e.g. liquidity mining) and encouraging builders (e.g. grants), both seem like they will be useful for the growth of Optimism. The focus on further strengthening other parts of the OE ecosystem seems pretty sensible as well, boosting Lyra to raise your capacity for example will presumably have positive overflow effects on the growth of the whole Synthetix based group of dApps.
1-2 months for the liquidity mining period seems fairly short, how do you intend to maximize the impact it has in terms of new users over that time?
Project Name: Polynomial Protocol Author Name: Salman Defillama TVL (at snapshot): $ 0 M (approx $ …
Project Name: Polynomial Protocol Author Name: Salman Defillama TVL (at snapshot): $ 0 M (approx $ 2 m) Transactions/day (at snapshot): 150 Tier: 3 Optimism native: Yes Revisions to metrics used: At the time of the snapshot, Polynomial had just launched their product, and there was no DefiLlama page; therefore on the spreadsheet - it shows up as $ 0 TVL; it is up now and can be accessed by everyone at Polynomial Protocol: TVL and stats - DefiLlama 57 Number of OP tokens to claim: 900 , 000 L 2 Recipient Address: 0 x 59672 D 112 d 680 CE 34 C 20 fF 1507197993 CC 0 bA 430 Proposal for token distribution (under 1000 words): Polynomial provides automated option strategies for its users. As an Optimism native project, Polynomial has a direct interest in the overall success of Optimism. By receiving an allocation from the $OP governance fund, Polynomial will seek to benefit its users and the adoption of the entire Optimism ecosystem. Goals Polynomial has the following goals in mind: 1 . Bring more users into the Optimism ecosystem. 2 . Improve accessibility/visibility to our vaults 3 . Increase TVL Q) How will the OP tokens be distributed? :stopwatch: Retroactive Airdrop Amount : 180 , 000 $OP Criteria : Existing users of Polynomial Earn Vaults 1480 × 796 54 . 4 KB :pick: Liquidity Mining Amount : 450 , 000 $OP Criteria : Future users of Polynomial Products To incentivize the product usage on optimism, we will be giving liquidity mining rewards to future vault users of Polynomial. We have four Earn vaults, and plan to release v 2 versions of these vaults along with Lyra’s Avalon update. We plan to distribute $OP tokens to these vaults equally for approx ~ 1 - 2 months following TGE. Before TGE, if more vaults are released, the tokens will be distributed amongst them too. Allocation to a vault = total OP allocation * (vault capacity / total capacity of all vaults). Newer vaults get a small multiplier (~ 1 . 5 - 2 x). :man_genie: Grants Amount : 128 , 580 $OP Criteria :Contributors / Bug Bounty / Tooling / Hackathons( 20 % for early builders and 80 % for future rewards) Polynomial will reward the grants for bug bounties, toolings(i.e: Dune Analytics, Zapper), content creations and hackathons. Several volunteer community members have been building and creating with Polynomial for the past few months, and with these grants, we look forward to having more people build with Polynomial. :brick: Building blocks Amount : 72 , 000 $OP Criteria : Be an LP in Lyra The capacity of Polynomial Vaults is directly proportional to the liquidity in Lyra. Currently, Polynomial Vaults are almost operating at full capacity due to the inability to increase the vault size. Incentivizing LP’ing in Lyra will help us raise the vault capacity and help us bring more users to Optimism :family: Frens of Polynomial Amount : 69 , 420 $OP Criteria : Be our fren We love Optimism and are optimistic about the derivative ecosystem being built here. We would love to pay it forward to the core devs of Optimism Native Derivative Projects : Synthetix, Lyra, Perp, Pika, Kwenta and Thales :person_raising_hand: Questions Q) How will this distribution incentivize usage and liquidity on Optimism? Polynomials bring users to Optimism which stays as long term as Optimism. Since Polynomial is still at its day 1 , we want to incentivize root level growth that can profoundly impact the Optimism ecosystem. We are also an OP native project. Hence our growth is directly aligned with OP. Polynomial is built on top of Synthetix and Lyra. Hence all incentives will drive growth for the underlying protocols as well. Q) Why will the incentivized users and liquidity remain after incentives dry up? :fuelpump: Gas : We are trying to onboard the next-gen users to web 3 ; most new users find the gas in L 1 relatively high. Hence being on OP helps drive user growth more than L 1 . 1456 × 445 69 . 1 KB 65 % of users are depositing under $ 100 . Combined with the low gas fees experienced when transacting on Optimism, this presents a relatively accessible option for onboarding new users to the option vaults. :busts_in_silhouette: User Retention 1480 × 796 51 . 4 KB Polynomial Earn Vaults have amassed a sizeable amount of sticky users - Unique addresses deposited against withdrawals since launch show that 78 % of the users are still in the vaults, even after the considerable selloff in the crypto markets in May. The vaults have operated at near capacity for most of the weeks it has been live. Q) Over what period of time will the tokens be distributed? We intend to distribute the tokens within a 6 month timeframe, liquidity mining will be done in 1 - 2 months. Q) How much will your project match in co-incentives? Polynomial doesn’t have a token but we’ll match bug bounty in USDC (capped at $ 50 K)
MinimalGravitas: salman:
128,580 $OP
Thought it was strange to see this odd amount until I read further to see why you wanted a specific amount for another category… nice.
I like the balance between encouraging users (e.g. liquidity mining) and encouraging builders (e.g. grants), both seem like they will be useful for the growth of Optimism. The focus on further strengthening other parts of the OE ecosystem seems pretty sensible as well, boosting Lyra to raise your capacity for example will presumably have positive overflow effects on the growth of the whole Synthetix based group of dApps.
1-2 months for the liquidity mining period seems fairly short, how do you intend to maximize the impact it has in terms of new users over that time?
salman:
128 , 580 $OP
Thought it was strange to see this odd amount until I read further t…
salman:
128 , 580 $OP
Thought it was strange to see this odd amount until I read further to see why you wanted a specific amount for another category… nice.
I like the balance between encouraging users (e.g. liquidity mining) and encouraging builders (e.g. grants), both seem like they will be useful for the growth of Optimism. The focus on further strengthening other parts of the OE ecosystem seems pretty sensible as well, boosting Lyra to raise your capacity for example will presumably have positive overflow effects on the growth of the whole Synthetix based group of dApps.
1 - 2 months for the liquidity mining period seems fairly short, how do you intend to maximize the impact it has in terms of new users over that time?
salman: 128 , 580 $OP Thought it was strange to see this odd amount until I read further t…
salman: 128 , 580 $OP Thought it was strange to see this odd amount until I read further to see why you wanted a specific amount for another category… nice. I like the balance between encouraging users (e.g. liquidity mining) and encouraging builders (e.g. grants), both seem like they will be useful for the growth of Optimism. The focus on further strengthening other parts of the OE ecosystem seems pretty sensible as well, boosting Lyra to raise your capacity for example will presumably have positive overflow effects on the growth of the whole Synthetix based group of dApps. 1 - 2 months for the liquidity mining period seems fairly short, how do you intend to maximize the impact it has in terms of new users over that time?
amazing
great proposal from one of optimism’s most prominent ecosystem partners!
amazing
great proposal from one of optimism’s most prominent ecosystem partners!
amazing great proposal from one of optimism’s most prominent ecosystem partners!
amazing great proposal from one of optimism’s most prominent ecosystem partners!
This means Lyra LP provider will get $OP both from Lyra and Polynomial, Right?
This means Lyra LP provider will get $OP both from Lyra and Polynomial, Right?
This means Lyra LP provider will get $OP both from Lyra and Polynomial, Right?
This means Lyra LP provider will get $OP both from Lyra and Polynomial, Right?
Thanks for this project info. I have read it and cannot agree at this moment. Let me make a further…
Thanks for this project info. I have read it and cannot agree at this moment. Let me make a further research.
Thanks for this project info. I have read it and cannot agree at this moment. Let me make a further…
Thanks for this project info. I have read it and cannot agree at this moment. Let me make a further research.
