OP Michael
@opmichael_eth
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Superchain | Aligning Incentives | Poker
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Here's a fun fact:
Pretty much all of Ethena's assets are with Binance, Bybit, OKX, and Deribit.
The current weighted funding rate? -33%
Their ETH position alone is losing $368 Million per year right now
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Just did a swap on
@VelodromeFi
on
@Optimism
for $0.0028... thats less than 1/3 of one cent.
MOMMA WE MADE IT 🔴✨🫶
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Ethena funding rates are now -9% for ETH and just 2% for BTC meaning that sUSDe holders are losing $$$.
Meanwhile, USDC is earning 10%+ on Aave/Optimism.
Where can I short $ENA?
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I just discovered that the hex code for the
@optimismFND
logo color is
#FF0420
LMAO they are too good
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Yesterday, OP Stack chains put together a total OP Collective contribution of 44.42 ETH ($101,401).
Annualized, thats 16,213 ETH ($37 million) that will presumably go into RetroPGF and to builders across the Superchain.
And that number is only growing.
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Starting to see the promises of the OP Stack in plain sight. Why was it easier for Optimism to make the blobs upgrade?
* Modularity
* Minimal diff from gETH
* Multiple *stronk* core dev teams(OP+Base)
These benefits will only continue to compound
(p.s. fault proofs are coming)
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$OP is the best token right now to play the rise of Base.
Base has literally sent the Optimism Collective over 2,380 ETH ($8,132,805) so far and will continue to send 2.5% of txn fees.
$OP may be a Useless-Governance-Token™ at the moment, but what happens when that changes?
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The one benefit of the $OP price pump is that I see a lot of people asking “why Optimism”.
It seems like almost no-one outside a core subset of Superchain people actually understand the potential of OP Stack & Superchain, not to mention Ether’s Phoenix
Hoping that changes.
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If you still don't have a technical understanding of what a "blob" is, you should watch this before March 13th:
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It's awesome seeing more and more projects hit the threshold for RetroPGF 3.
I'm going to be finishing up my ballot today, please shill me good projects that have not yet met the threshold!
They can be your projects or just ones you think deserve it.
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Great to see more RWA players come to the Superchain.
I know some of the team at
@ChintaiNexus
and they've been building for a LONG time making sure they do things right from a regulatory standpoint, no shortcuts.
Welcome to the Optimism family 😎🔴🔵🟡🟢🟣
Chintai, Coinbase, working together to bring RWA’s onto Base.
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It's official, I am now rebranding to "OP Michael". You can find me at opmichael.eth.
The youtube channel will keep it's current name (the blockchain guy) but everything else is now OPMichael.
Why?...
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2024 grants playbook for protocols:
1) Launch on Chain A, grow users on Chain A using Chain A's money
2) After depleting your share of Chain A's treasury, launch on Chain B
3) Funnel users from Chain A into Chain B using Chain B's money
4) rinse and repeat w/next L2
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Here is your weekly reminder:
@worldcoin
is Optimism
@base
is Optimism
@farcaster_xyz
is Optimism
@ourZORA
is Optimism
@modenetwork
is Optimism
@friendtech
is Optimism
@viamirror
is Optimism
@VelodromeFi
is Optimism
La gente está durmiendo, papi 😴
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Finally listened to V Buterin and I can confirm it is a bop
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This is your reminder that Optimism still has 570 million $OP tokens set aside for airdrops
That is:
7.8x the value of the $JITO airdrop
12.8x the value of the $TIA airdrop
8.3x the value of the $BLUR airdrop
How to qualify?
* use the Superchain
* delegate (link in bio)
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Starting a new series of Superchain characters.
Introducing: Basi 💙
Mint free on Zora!
More to come 👀🔴🟡🟢🟣🌞
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If you're bullish on any of the following projects or their teams, you're bullish on the Optimism Collective:
@Optimism
@base
@ourZORA
@worldcoin
@VelodromeFi
@aerodromefi
@modenetwork
@latticexyz
@LiskHQ
@farcaster_xyz
@synthetix_io
@soundxyz_
@gitcoin
@friendtech
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I am extremely grateful to all the badgeholders who voted for me in RetroPGF3.
As I've stated before, RetroPGF has allowed me to work full time & independently to bring the Optimistic Vision to reality, and it remains my main personal and professional goal.
In the last few
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Just recently, "Span Batches" by
@testinprod_io
went live on Optimism mainnet! This is amazing for a few reasons... (short thread)
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Optimism
Base
Mode
Lisk
Lyra
And now Frax…
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For all the RPGF3 recipients, some advice:
This is not a zero-sum game
Don’t focus on the results of other submissions, except in the context of how we can improve the fairness of RetroPGF in the future.
The pie is increasing for everyone. Stay Optimistic. Keep building. ❤️
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🤫🔴✨
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Love it when we work together.
@OffchainLabs
should apply for RPGF now. 😂
Today, we disclosed two serious vulnerabilities in the recently released OP Stack fraud proofs.
We coordinated closely with the OP Labs team on this disclosure. We’re all on team Ethereum, and happy to lend resources to make Ethereum safer for everyone.
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Optimism’s RetroPGF is not free money falling from the sky, and you are not entitled to it.
It’s a piece of a new economic system, and it’s *earned* through making a tangible impact to the Optimism Collective.
No tangible impact, no RetroPGF.
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its out
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Are you farming the points, or are the points farming you?
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Dear anon,
Don't sleep on
@modenetwork
.
They launched with WAY less resources than most other L2s, but had a golden idea: build growth into the network.
It's working.
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Test in Prod (
@testinprod_io
) literally built & now maintain OP-Erigon, are an OP Stack core developer, but are only on 8 ballots right now.
IMO they are one of the clearest cases for RetroPGF.
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"I've always thought there was too much tribalism in crypto, but the thing about working with the Superchain is that it's a different animal, we're all working together".
Such a great quote from
@Metal_L2
because it's so true.
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RetroPGF isn't communism, it isn't socialism... it's Optimism.
Projects don't "deserve" more because they have less money.
Projects "deserve" more by having a positive impact to the ecosystem.
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Thinking about applying for a grant from Optimism?
Here is a walkthrough with everything you need to know and do, plus all the relevant links!
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Pretty soon we will see a Cambrian explosion of chains on the Superchain.
Study blockspace charters
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Bedrock is the biggest thing to happen to
@optimismFND
since its inception. But what is it actually, and why is it so important?
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Optimism’s grants council treats all applications equally
We spent A LOT of time developing impartial processes and rubrics to give everyone a fair chance
Trashing the council because a “famous” protocol didn’t get auto-approved is such a weird attempt at a putdown
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To all my Optimism badgeholder friends 🔴✨:
In celebration of the start of RPGF2, I made a video that overviews *every* nominee in the education category.
The goal is to provide some context before you start your own research.
I hope it's helpful!
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So there's this thing called the OP stack, right? And its open source and modular, right? So anyone can come along and contribute to it, and now the homies at
@o1_labs
want to add fault proofs, right? Which could eventually make OP Mainnet a zk-rollup, right? how cool is that??
O(1) Labs is excited to submit a proposal to
@optimismFND
for the application of our zero knowledge proof stack to OP Stack fraud proofs. This application is built on the groundbreaking MIPS zkVM we’re building as part of the
@minaprotocol
roadmap: 1/4
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I'm very confident that we'll get to a point where 90%+ of new web3 users are onboarded directly to the Superchain
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Very excited about my submission to the We Love The Art Contest
"As The Phoenix Rises" is a dynamic NFT that updates every single day based on the total Superchain contribution to the OP Collective.
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Sure, it's fun to complain about RetroPGF for clout, but here's a quick reality check.
These are the top 36 projects actually being funded by RetroPGF... what would you change?
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Other L2 users watching Superchainers swap for less than a penny
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Absolutely massive step.
Congrats to the team and onward towards further decentralization!!! 🥳🥳🥳
🚨 FAULT PROOFS & STAGE 1 HAVE ARRIVED 🚨
Open source, permissionless fault proofs are live on OP Mainnet, and with them the OP Stack arrives at Stage 1 decentralization.
This is a major step forward for the Superchain!
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It honestly amazes me how much people are sleeping on this.
Optimism team gave us Optimistic Rollups. They gave us OP Stack. They deliver on the big innovations, and the next one will be interop.
The Superchain is soon becoming one.
We'll be bringing a unified experience for transferring assets, building apps, and UX with chains or apps across the Superchain.
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The people in crypto work really really hard. Way harder than in any other industry I've seen, by an order of magnitude. Weekends, evenings, all the time.
And on top of all that some of them are even intelligent as well.
Clear eyes, full hearts, can't lose.
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Excited that I will be the delegate for this beautifully Optimistic noun this month!
I can’t wait to learn from Nouns governance and to bring my own perspective from my governance work at Optimism. 🔴✨
Thank you
@toady_hawk
for the opportunity and for being my nouns sherpa!
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Very excited about GovNFTs! They offer an opportunity for grant recipients with locked OP to participate in governance at Optimism.
I've been working with the
@VelodromeFi
team to design incentives and a program that will help the initial batch of recipients become active and
GovNFTs are live on
@Optimism
🔴
We are proud to announce the release of GovNFT, an open-source public good to be employed by the Optimism Collective and protocols receiving vesting grants.
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As it stands, RetroPGF is not sustainable.
Current onchain revenue (fee margin) for Superchain chains is ~$40k daily or ~$15million per year.
Assuming 15% of that goes to RetroPGF, we are current at ~$2.2 million of annual RetroPGF funds.
Here's the issue...
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@RyanMarino
She’s inviting you on a podcast as an authority about a subject where you are an expert with listeners who probably have a misinformed view. These are the exact people you need to be reaching… why are you so proud of rejecting the offer?
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If you have $ZK tokens and love Optimism, consider me as a ZKsync delegate.
My main goal is to be a bridge for ideas between these two governance systems and help both to improve.
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The beautiful thing about this round of Optimism's Retrofunding being metrics based is that there is an order of magnitude less drama.
When tearing down another project does nothing to improve your own reward, why start beef on twitter?
Really loving this round's experiment.
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Insanely smart move, and even better that the whole Superchain will be supporting it. 🔴🔵🟢🟤🟡🟠
🔴 BREAKING NEWS 🔴
The
@Optimism
Collective introduces the Superchain Developer Console.
The Superchain is the best place for app developers to build and scale their businesses, and we make it super-mega easy to accelerate development and lower overhead costs.
Get access 👇
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In honor of Celo deciding to launch on OP Stack L2, we've created a new Superchain Friends character!
Introducing: Celu
Mint for free on Zora ✨💛
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So I'm officially in Medellin for the next few months and would love to get to know the crypto scene here.
Any good groups/people I should meet?
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So proud of my team (their first web3 hackathon) and of the project we built!
ChooseADelegate is coming to a farcaster feed near you!
🔴✨ The SuperHack 2024 finalists are:
🐣 Tamayoshi
🏛️ ChooseADelegate
🤖 Century Pay
📂 EthDrive
🤗 QuickPay
💋 Kiss or Slap
🖼️ HomeBase
✏️ Draw dash
Dive in to see some of the amazing projects built at the edge of the
@SuperchainEco
👇/🧵
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The most bullish thing about the Superchain is that it keeps delivering. I still remember the announcement of the base partnership.
Since then, it feels like every single month gives us another huge reason to be bullish on the dream actually becoming reality.
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Unfortunately not going to make it to ETH Denver this year 😢
Was planning on going, but after traveling so much the last few months and catching every cold & flu imaginable, just want to focus on staying healthy for now.
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The best, most predictable, highest paying airdrop that you can farm. Oh, and you are also actually contributing to the world too.
Announcing RetroPGF Round 3! 🌱✨
This fall, 30M OP will be distributed to builders, creators, and educators who have provided positive impact to the Optimism Collective.
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It’s pretty obvious that OP Stack / Superchain is empirically the best place to launch an L2 if you want to achieve reasonable success.
Base, Zora, and now Mode.
What other L2 tech stack has produce an L2 even close to these?
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Now that
@ethena_labs
has hit $3B TVL, maybe its time to talk about some of the risks that the vast majority of users are unaware of.
$ENA, $sUSDe, and $USDe holders take note.
3 months
2 tokens
1 dream
0 doubts
$3,000,000,000
Ethena
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Ethena says they're transparent about their risks... but most users have no idea. I've done a deep dive over the last couple days pulling together risks that most people don't know about. Here is part 1:
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OP Airdrop 4 goes to those who created NFT collections.
The Superchain has really solidified itself as the best place for artists to be onchain.
If you have OP you haven't delegated yet, do it now! I'd be happy to be your delegate if you're looking for one (link in bio). 🫶
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@Blast_L2
Umm... should you have the protocol engineers *before* you take everyones money for the protocol?
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From the beginning Linda has been one of the most thoughtful and measured delegates.
Her presence and experience helped shape the early stages of Optimism Governance.
I can't wait to see where she takes bountycaster!
After 2 years as an
@Optimism
delegate, I'll be stepping down on the Token House side. I'm grateful to have supported Optimism governance in the earliest years
I'll be contributing full-time to the Optimism ecosystem by building Bountycaster as well as being a Citizens' House
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Any project getting RetroPGF is basically getting a % of Optimism txn fees
That’s kind of like referral rewards for those eligible
Literally everyone is eligible to earn RPGF
Therefore…
Optimism has the largest referral program in all of crypto 👀🔴
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The Game: Repeated
The Funding: Retro
The Stack: OP
The Chain: Super
In honor of Round 4 of Retrofunding, I present to you this beautiful Oppy + Sunny NFT free to mint on Zora!
Link below 👇
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Hey Everyone, I'm excited to announce the RetroPGF Podcast! If you'd like to earn some RetroFunding while learning about core members of the OP community, this podcast is you.
Our first episode will be with the wonderful
@Reformed_Normie
this Thursday at 7pm ET. See you there!
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Today Optimism has an AMA on Blockspace Charters, the charters that define chains' configuration and upgradeability in the Superchain.
This is one of the most important concepts to get right and to understand the Ethereum/Superchain ecosystem.
Thread coming soon.
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Things Optimism has pioneered in crypto-land:
* Optimistic rollups
* RetroPGF
* Multiple airdrops
* Two-house DAO governance
* Modular L2 Stack
* The freaking Superchain
And there are still people betting against this team??? 🤔
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I feel bad for all the crypto people living outside the US that have to deal with the American SEC bullshit constantly impacting the market 🥲
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Fun onboarding idea 💡 :
- Buy small business with a storefront like a Boba Tea shop
- Offer massive discounts to those who pay using Superchain 🔴🔵🟡
- Track retention of onboarded users
- Apply to RetroPGF to make up difference from the discounts
Tell me why I shouldn’t do
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This is extremely important. I've found at least 2/3 of projects have almost immeasurable impact while a handful have massive impact. If the impact is massive, so should be the reward.
A pretty website that no one has used should not get a 30k OP consolation prize.
you will properly proportion heavy weights towards real impact and not minimize weights to top earners by excessively provisioning across a broader set of nominees to seem nice
and you (i) will be happy
please consider your weights carefully.
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"Badgeholders will not vote on individual projects but will rather vote via selecting and weighting a number of metrics which measure different types of impact"
Awesome experiment, and the ability to do this shows the power of splitting RPGF4 into category-specific rounds...
Details for Retro Funding Round 4 are here.
The Optimism Collective is allocating 10M OP to reward Superchain builders.
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@sugashane23
He actually waits to see the outcome of the play before tossing the flag. Unbelievable.
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If you want to hear a gringo struggling to discuss in spanish the existential human coordination problems we all face as a species, then come listen to this spaces 😂
Looking forward to it!
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Lock all the badgeholders on the boat until we reach unanimous agreement of allocations for RPGF4
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Lots of awesome projects here, I promise I will review every single one posted today. Keep them coming!
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Argentina is setting itself up to lead the world in this stuff. Amazing step!
BREAKING:
Ethereum and Solidity are now formally integrated into high school education programs in Buenos Aires
High schools students will learn to write
#Ethereum
smart contracts
Vamos Argentina! 🇦🇷
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New day, new Super Friend! Meet Zori.
No Superchain group would be complete without
@ourZORA
.
Can you guess what platform you can mint it on? 😂
Link below 👇. Free mint, 100 max.
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best dapp design in the game and it's not close
Just came across
@letsgethai
, I'm not sure what exactly they do, but their website designer cooked 🧑🍳
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don't panic friends, mercury is in retrograde right now.
bull market will come back August 28th 🪐🌠📈
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This is 100% true and the reason why I decided to dedicate my career to the Superchain over the last 1.5 years.
I had a lot of options; choosing Optimism was not an accident.
Retro funding is an attempt to upgrade capitalism. We have enough surplus to raise the standard of living of the world's median, we just cannot coordinate to make it happen. One day retro funding will break out of the circular crypto economy
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Anon, you’re watching the Superchain dream become a reality in real-time.
It’s beautiful 🥲❤️
Should come as no surprise to anyone at this point :)
Native interop between Base, World Chain, Celo, Zora, OP Mainnet, etc soon to come.
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Excited to have
@0xPumbi
on The RetroPGF Podcast tomorrow to talk about
@OptimismESP
!
Come stop by! Reminder 👇
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The best thing about red pilling people on Optimism 🔴✨ at devconnect is that it’s so easy once people actually realize everything going on in the ecosystem.
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Shoutout to my Venezuelan friends today, thinking of you all and hoping for the best 🙏 🇻🇪
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Optimism citizenship probably has the biggest cool-factor of any DAO governance membership.
I hope I can make it in this round 🥺✨❤️
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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how it feels looking for the good Optimism mission requests
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When atomic compatibility is turned on for the Superchain, it will be the biggest unlock since the launch of ethereum.
Introducing World Chain, a new blockchain designed for humans ⚪️
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-> Pull something negative out of your ass about Optimism Gov
-> Like, literally hallucinate something that never happened
-> Don't take 2 minutes to verify if your hallucination is true
-> Post said hallucination on twitter
????
profit
pendle = approved
A year ago Pendle asked Optimism governance for a 100k OP token grant to distribute as user incentives on their Optimism deployment - they were rejected. Today Pendle's TVL is 2.5x bigger than the TVL of the entire Optimism chain
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