Optimism Governance
@OptimismGov
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The official Optimism Governance account. Supported by the Optimism Grants Council: @OptimismGrants
Joined April 2022
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Over the past few weeks, we’ve been reflecting on Season 3. Now, we’re preparing for Season 4 with the first round of Special Voting Cycles kicking off this Thursday at 19:00 UTC.
Vote at !
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Introducing the new Optimism Governance Portal, built by
@nounsagora
. 🏛️
This is the first step toward transitioning to fully on-chain voting and will also serve as our delegate registry.
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May 31 marks one year since the Optimism Collective was introduced along with the OP governance token that enables the community to actively participate in shaping the direction of the ecosystem.
Join us in wishing a happy first birthday to the Optimism Collective! 🥳
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It’s been a busy few weeks for Optimism Governance, and we wanted to share a Season 3 update with our community about recent happening and upcoming milestones.
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The nomination window for RetroPGF Round 2 is officially open! ✨
This is your chance to put forward the projects you’ve seen create positive impact for the Optimism Collective over the past year.
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When we first launched the OP token, we announced that the total supply would inflate at a rate of 2% per year. However, when we deployed the contract, the rate was mistakenly set to 20%. Later today, we’ll be updating the contract logic to the intended 2%.
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Optimism's third season of Governance Fund Grants begins on Jan 26.
Two committees this Season:
🛠 Builders Committee – goal to maximize the number of developers building on Optimism
🚀 Growth Experiments Committee – goal to maximize the number of users of apps on Optimism
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An update from Optimism Governance as we head in to the holidays:
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✨🔴 calling all Optimistic meamers 🔴✨
20k OP is up for grabs in the 1st ever OP meme competition!
✔️ Make memes about OP governance
✔️ Submit up to 3 for consideration
✔️ Tweet memes using hashtags
#L222
#OPgov
#Optimist
#OPMemeSzn
#OPMeamTeam
⏲ Deadline: July 4th, 5PM UTC
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OP Gov Update
#1
just dropped 🔴✨
Follow along for the latest in OP Governance: what’s up for a vote, what’s in discussion, and what’s next.
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OP Governance starts today. Follow along for updates on voting cycles, proposal discussion, and delegates.
Learn & discuss:
Apply for funding:
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✨📣🔴 Governance Update 🔴📣✨
Voting Cycle
#1
has officially ended. All Phase 0 governance proposals have PASSED.
This means that ~36mm OP tokens will be released across over 25 unique incentive programs meticulously constructed by projects on Optimism.
Let OP Summer begin!
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The Optimism Collective, in partnership with
@syndicateio
, is excited to launch co-granting in Season 4!
Now you can support the work being done by the
@OptimismGrants
Council and build an onchain record of your contribution to the Collective.
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The Optimism Foundation has proposed the first protocol upgrade to the Optimism Collective: Bedrock. 🛏️🪨
See the full proposal here:
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Heads up: today we’ll be transferring ~32m of investor-owned OP from multisig escrow wallets to their respective Coinbase custody accounts.
This is not an unlock and the token vesting schedule hasn’t changed. For a refresher on OP token allocations, see:
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Want to change who your OP is delegated to?
allows you to do just that!
Nothing better than seeing builders taking the initiative and fulfilling community requests. Thank you
@DanieleSalatti
for the great work! 🥰
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Heads up: later today, on-chain protocol delegations will be executed, transferring 5M OP to sub-wallets delegated to each protocol. This is not an unlock or release of funds.
Welcome to Optimism Governance, Protocol Delegatees! ❤️🏛️🤓
ICYMI: Season 3 of Token House governance introduces a new Protocol Delegation Program.
This temporarily delegates a portion of idle OP from the Governance Fund to protocols across the ecosystem, allowing more projects and communities to participate in Optimism governance.
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RetroPGF 3 Voting Badge Distribution. 🌱🗳️
In the current iteration of the Citizens’ House, badgeholders decide how to allocate RetroPGF.
Badgeholder distribution criteria for RetroPGF 3 has been updated following the learnings from Round 2:
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Retro Funding is getting a glow up.
Get the latest from
@JonasSFT
here 👇
Retroactive Public Goods Funding is transitioning from broad-scoped rounds (where all contributions to Optimism are rewarded) to more narrowly scoped rounds (where a specific category of contributions is rewarded)
🧵This change comes as a direct result of r3 learnings, thread
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ICYMI: Season 3 of Token House governance introduces a new Protocol Delegation Program.
This temporarily delegates a portion of idle OP from the Governance Fund to protocols across the ecosystem, allowing more projects and communities to participate in Optimism governance.
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There was, and will be, zero impact to the planned token supply as a result of this fix. Inflation of OP does not begin until next year. No new tokens have been minted or moved, and no tokens were ever at risk.
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If you’d like to be considered for Council Lead, you’ll need to post a Council Intent Budget Proposal and receive 4 approvals from delegates with >0.25% of the votable supply before Wednesday, April 26th at 19:00 UTC. Reviewer elections would be in Special Voting Cycle
#12b
.
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Special Voting Cycles are an important part of our iterative governance process as they allow us to reflect on past experiments and approve the new experiments so the Collective can continuously evolve.
Vote this Thursday on !
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Co-granting is an important contribution to the Collective, so co-grantors will receive an NFT for their efforts. They will also receive an Optimism Attestation at a later date, providing an onchain record of their impact.
You can co-grant now at
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sup gov nerds!
Special Voting Cycle
#12a
just concluded. The Grants Council and Protocol Delegation Program, Season 3 experiments, were renewed for an additional Season!
If you’d like to be a Council Reviewer, please nominate yourself by next Wednesday, May 17th at 19:00 UTC.
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As a reminder, inflation of OP is initially set at 2% annually. Any future changes to this rate must be made through governance.
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Distributing the remainder of the airdrop directly will allow core teams to focus on other smart contract work and future airdrops. Thank you for your patience.
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Tomorrow, October 5th there will be a planned movement of ~230M OP. These are core contributors’ tokens which are being moved to an institutional custodian for security purposes.
We're sharing this information as a heads up to the community.
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RetroPGF is an ongoing experiment. Each round, the Optimism Collective learns from and iterates on the previous round’s system design.
Learn more about how the Collective iterated on Round 2 learnings and what’s being introduced in Round 3. 🌱
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ICYMI: Season 3 of governance introduces a Grants Council to review grants in two categories:
1/ Builders
2/ Growth Experiments
Congrats to
@lund_dane
for being selected as Council Lead!
The Token House has elected the following committee members to review and approve grants:
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Nominations are open from January 17th to January 31st.
Instructions for how to nominate can be found here:
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This will distribute 48M OP to just over 88,000 unique addresses. Distribution began today at roughly 16:00 UTC. We expect it to complete within 12 hours.
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The Protocol Delegation Program was piloted in Season 3 to enable protocols, some of our most important stakeholders, to participate in governance.
The program temporarily delegated up to 5M OP from the Governance Fund to top protocols on OP Mainnet.
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Going forward, all Token House votes will occur on-chain through the Governance Portal.
A test vote has been implemented and will run until February 16th, ahead of voting for the Bedrock Protocol Upgrade.
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Delegates will vote to renew the Protocol Delegation Program for a final Season:
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Season 4 aligns the entire community around Collective Intents, or shared goals. Each Intent is equipped with a budget that must be approved by the Token House.
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Huge shout out to Optimism grant recipient
@nounsagora
for making the Optimism Governance Portal a reality!
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@odosprotocol
,
@VelodromeFi
,
@PoolTogether_
, and
@beethoven_x
to the Protocol Delegation Program!
These and other protocols building on Optimism are among its most important stakeholders and this initiative ensures they continue to have a voice in the ecosystem’s development.
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We've entered a Reflection Period in preparation for Season 5 of Optimism Governance. There are a lot of exciting new experiments coming down the line, including the 1st ever joint house vote!
See the Complete Guide to Season 5 or read on for a summary:
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Never got around to claiming your tokens from OP Airdrop
#1
? Fret not, they remain claimable!
Head over to our claims page to check your eligibility:
Remember to always stay safe and be vigilant online, especially when making onchain transactions.
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As a reminder: on May 31st, OP circulating supply will increase. In the two weeks leading up to this date you may notice large onchain transfers. These are planned txs in preparation for distributions.
View estimated circulating supply allocations here:
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None of this would be possible with our incredible delegates, who will receive retro rewards in appreciation for their hard work in Season 3.
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Welcome to SEASON 4 of Optimism Governance.
If you are looking for a way to join the Optimism Collective and get started building, now is your moment.
Read on for the best ways to contribute ⤵️
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Since the start of Season 3, the
@OptimismGrants
Council has been running a transparent, community-driven grants program. At the conclusion of Cycle 11, the Token House will determine if the Council should continue.
Learn more here:
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Hi delegates! There was some confusion about the end of Special Voting Cycle
#12a
resulting from variable blocktimes & the display on our voting UI.
To make sure everyone has a chance to vote, we've extended the voting cycle by 24 hours. Please vote by May 11th at 19:00 UTC. 🙏
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🚨Calling all Optimists!
The first wave of Mission grant applications are open until February 21st 🎉
Check out the Mission grants you can apply to on github here👇
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Last, big shoutout to the exceptional community members who have stepped forward as Token House delegates. 35mm OP of voting power has been delegated to dozens of individuals and groups across the ecosystem.
For a full breakdown, see:
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The OP Stimpack — aka Governance Fund Phase 1 — is open for applications. This 230mm OP grants program exists to fund builders and projects in the OP ecosystem.
Funding will be allocated by Token House vote. What kind of world does our community want to build?
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Missions are executed by *Alliances* – groups of contributors that temporarily work together to complete a Mission.
Alliances can submit Mission proposals based on Collective Trust Tiers, the first step towards an attestation-based reputation system.
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It’s been an amazing first year for Optimism Governance!
We’re grateful to all participants who continue to engage, learn, and make a meaningful impact in the Optimism ecosystem.
To learn more about delegation (and how to do it), see this docs page:
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The transfer of unclaimed tokens from Airdrop
#1
to a new contract will take place shortly - this is a planned transaction, so no cause for alarm.
Airdrop
#1
claims will be down for approximately one week, and we will share an update once they’re back online.
In the next few days, you will see a transaction that sends remaining tokens to the Optimism Treasury followed by another planned transaction that transfers these tokens to a new airdrop contract.
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We’re proud of the Optimism Collective’s accomplishments, and thankful to delegates, Grants Council members, and the community for sustaining and growing this ecosystem. ❤️
Season 3 ends April 5. Stay tuned for info about Season 4 of Optimism Governance and how to get involved!
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This is v0.1 OP Token House governance — the first step of a long journey towards novel human coordination at scale. We look forward to your involvement in shaping the future of decentralized governance.
Read the full OP Gov Update
#1
for more detail:
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Voting Cycle 11 has concluded. Two votes were brought to the Token House, and both have passed. Not only was this was the Collective’s first onchain vote using the new —it was also the first Protocol Upgrade.
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Welcome
@ensdomains
,
@thalesmarket
,
@Kwenta_io
,
@lyrafinance
,
@paraswap
,
@ConnextNetwork
,
@PolynomialFi
,
@dHedgeOrg
,
@UniswapFND
,
@LayerZero_Labs
,
@rubicondefi
,
@PikaProtocol
,
@0xProject
,
@HopProtocol
,
@NestedFi
,
@SocketDotTech
,
@viamirror
,
@CurveFinance
,
@Clipper_DEX
, ⬇️
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As circulating supply increases, so does the opportunity to increase votable supply within the Token House.
This presents an opportunity to drive delegation & we're helping to spearhead initiatives aimed at improving delegate discoverability.
More here:
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Approval to upgrade Optimism Mainnet to the Bedrock release represents a major milestone for the protocol. Voter turnout for this proposal was the highest of any in OP Governance history.
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As you know, iteration and improvement is a constant at Optimism and in Optimism Governance.
There are frequent discussions about ways to further increase the votable supply and distribute it to a broader range of Optimism ecosystem stakeholders.
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The Optimism Grants Council was renewed for a second Season, to be led once again by Council Lead
@lund_dane
! The Council will process grants in two categories:
- Builders
- Growth Experiments
The Council will also create specific Requests for Grants in each category.
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Voting Cycle
#2
begins Thursday (June 23) at 12pm PST / 7pm GMT and runs until Wednesday (July 6) at 12pm PST / 7pm GMT.
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Optimism’s bi-cameral governance system is designed to avoid the plutocratic pitfalls of governance that’s solely token-based.
While token holdings will continue to fluctuate, the Citizens’ House provides an important check on the governance power of the free market.
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OP’s Token House voting process will run in two-week cycles.
Voting Cycle 1 runs June 9 to June 22 and will vote on the GovFund Phase 0 proposals — millions in OP incentives for projects that have been driving growth on OP since day 1. 🥇
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And if you’re a builder or community organizer interested in submitting a grant proposal – Season 3 begins Jan 26, so think through your project and stay tuned for guidance from the new Grants Council.
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We are continuing to build a robust governance system designed to prevent capture and maximize efficiency.
Today marks the end of the Citizens House Veto Period, and we lean into the principal...
👇⚖️BALANCE⚖️👇
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There are two types of Missions:
1/ Proposed Missions can be submitted by anyone in the community to help achieve one of the Collective's Intents. The Token House will approval rank Proposed Missions until the budget for each Intent is fully allocated.
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Bedrock is one step closer to Optimism Mainnet!
@optimismFND
shared an updated proposal for Token House review - the first proposal for protocol upgrade to the Optimism Collective.
Voting starts Thursday.
You can read the full update here:
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Be sure to drop a link to your tweeted meme in the
#meme
-comp channel of the Optimism Discord.
Competition rules & details:
Rusty on Optimism's governance structure? Tune in to a walkthrough on Discord today at 5PM UTC.
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If you’re an experienced grant administrator who’s interested in acting as Council Lead, you can read more and apply by Jan 11 here:
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In other news, the governance app has been updated to allow a smoother re-delegation flow if you decide to change your delegate or want to delegate to yourself and participate directly!
Check it out at !
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1/ Special Voting Cycle
#16b
has ended. A few highlights:
⛓ The Law of Chains was ratified, paving the way for Superchain governance
🗳 A Chain Delegation Program was approved to welcome OP Chains to Optimism governance
🤝 18 Council Members were elected by the Token House!
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2/ Foundation Missions are akin to public Requests for Proposals. Any team in the community can apply to take on a Foundation mission during the specified window. Foundation Missions are defined by the Foundation and funded from the Partner Fund.
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The Optimism Collective and its governance continue to evolve.
To see the most recent version of governance process and proposal types, see the latest version of the Operating Manual:
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On May 31 we’ll see a substantial increase in OP token circulating supply with tokens being released from lockup.
These are not new token awards. You can read more about overall OP allocations here:
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Retroactive Public Goods Funding is not a charity.
The intention has always been to create a new economic system - one where there is an incentive to create positive impact.
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Votable supply, the number of OP delegated to a voter, also continues to increase. Optimism’s recent Airdrop
#2
rewarded users who delegated their OP tokens, and initiatives like the Protocol Delegation program also helped bring more participants into governance.
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Voting Cycle 2 runs June 23 to July 6 and will vote on new GovFund Phase 1 proposals.
Are you optimistic about the most Ethereum-aligned L2 and ready to migrate to a network with low fees and infinite vibes? Apply for funding ⤵️
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Voting Cycle
#13
has concluded & with it the experiments introduced in Governance Season 4!
ICYMI: Season 4 introduced Collective Intents & a handful of other foundational concepts upon which the Collective will be built.
Read the full guide to Season 4:
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This has been a bright year for Optimism Governance - and we’re just getting started. Thank you all for participating, and, as always, stay Optimistic! 🔴✨
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🛠️ Builders Committee:
@GonnaEth
,
@kaereste
,
@jack_anorak
🚀 Growth Experiments Committee:
@vander_meiden
,
@KatiegarciaEth
,
@labsGFX
,
@MattLosquadro
,
@TWlTTERGM
Congrats and thanks to these contributors for their help improving the GovFund grants process.
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Season 4 also introduces *Missions*
Missions are proposals for specific work to help achieve an Intent.
Just as there are many paths an arrow can take on the way to its target, there are many different Missions that can help accomplish an Intent.
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5M OP will be delegated to 23 different protocols.
The program will last two Seasons in total, at which point protocols will need to reaffirm their commitment to Optimism governance via their own treasuries.
The original proposal can be found here:
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These committees are staffed 100% by community members and delegates!
If you're interested in a role on either committee, you can nominate yourself by Jan 11 here:
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implement -> reflect -> iterate -> repeat
This is how we'll continue to improve upon our experiments governance--none of which would be possible without the continued thoughtful participation of the Optimism community.
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We’re excited to see
@itsamyjung
's is live!!
Captures, indexes, and archives moments from DAOs within
@ethereum
!
This open source project was built using the Collective DAO Archives to include 800 searchable records!
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Thank you once again for the participation in our experiments!
Read the OP Gov Update
#3
for full details and, as always, Stay Optimistic! ✨🔴
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Season 4 aligns the Collective around *Intents*
An Intent is a directional goal to focus the Collective. All work supported or executed by the Collective should be in pursuit of an Intent. Each Intent will have its own budget from the Governance Fund.
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Token House grants help bootstrap a profitable market for public goods while co-granting allows for support of a broader range of builders.
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🔥
@lalalavendr
’s talk at
@EthereumDenver
has been 🔥
Last year at
@EthereumDenver
she shared the Collective DAO Archives, an open source public good documenting the development of DAOs in the
@ethereum
ecosystem 👇
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It’s as busy as ever in the Token House, so now is a great time to join our amazing delegates in building the Collective.
Delegate or vote:
Run to be a Council Reviewer:
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Finally, 10 Token House delegates were elected as badgeholders for RetroPGF round 2!
For more information on RetroPGF and an updated timeline, see the governance documentation:
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The Grants Council will begin reviewing grant proposals on January 26th.
Interested in getting involved with Optimism Governance? Join the conversation on the forum:
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@Syndicateio
’s co-granting contracts allow you to contribute USDC to “match” the builders grants made by our Grants Council, providing up front capital to some of the most important grant applications, such as those innovating on novel use cases.
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Rest up for Special Voting Cycle
#12b
, which will begin May 18th at 19:00 UTC.
Delegates will vote to elect Grants Council Reviewers and may vote on our first ever Inflation Adjustment and Treasury Appropriation (Annual Foundation Budget) proposal types.
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