Authors
Exosphere
Train
Weston
Summary
This LTIP proposes to the Layer2DAO community a vote conducted on Snapshot to signal support for holders of the L2StateOfMind NFT (a project evolved from the original plans around the OPIncupator vision) - to support and partner with Socket (the tech behind Bungee Exchange) The vote will be conducted via Snapshot. Thorough research of the current Optimism L2 landscape has identified several good candidates for L2DAO to select from, has been especially identified as a high-impact project for the L2 ecosystem that has demonstrated leadership in the L2 space and has also shown what L2DAO believes has the potential of continuing this leadership they have already demonstrated. The Proposal would entail formally engaging with the Socket team to discuss supporting Socket with 27,500 $OP tokens, and other potential synergies to align the interests of both protocols over the long-term.
Abstract
The L2DAO is laser-focused on expanding the Layer2 Ethereum ecosystem and demonstrating DAO leadership in this regard. Also, supporting and partnering with other Layer2 protocols in the space and enabling other protocols to thrive. This vote is in alignment with the overall vision and roadmap of many of the several initiatives the DAO is working on. We believe this will work as a catalyst for on-boarding more users to the Layer2 ecosystem. Important and unique to note about this vote: The criteria to be eligible to vote is you must hold an L2StateOfMind NFT as of the Snapshot proposal to vote, and every address that votes will receive a proportional share of the 10,000 $OP tokens that are being used to incentivize governance participation by voting on this LTIP.
The NFT that is required to be eligible to vote can be found on-chain at Optimistic Etherscan
Background:
L2DAO is the Layer2DAO governance token which was launched 10 months ago.
The $L2DAO token is currently live on two L2s: Optimism and Arbitrum.
The staking contract for $L2DAO Holders to receive $xL2DAO and a share of the DAO revenue every week in the form of an $ETH claim is on Arbitrum and the L2StateOfMind also enables stakers to be airdropped double their weekly $ETH claim if they are also staking $L2DAO. The NFT Collection can be viewed on on OpenSea and Quix
The DAO has launched several products that are producing ongoing revenues, such as .L2 domain sales, LP positions, NFT Mints, and resale commissions of the L2 early adopter NFT series, and also many DAO-to-DAO partnerships yet to be announced...that will serve as sources of potential revenue in the pipeline. .L2 domains in particular have tremendous growth potential as a direct competitor to ENS.
Implementation:
If LTIP-4 is approved, Layer2DAO will engage with the Socket team to confirm with the team as to where they would prefer the 27,500 $OP tokens sent to support their continued work of growing Layer2 - and also - the team will work to negotiate a favorable collaboration for both protocols, and other potential synergies to be explored to align both protocols long-term success. If terms cannot be reached with 3 days of this vote concluding, Layer2DAO will retain the 27,500 $OP tokens for another of the many protocols that have been identified as Layer2 leaders and will proceed to the next candidate to be voted on to support with on-boarding new users to the L2 ecosystem on Optimism.
Copyright:
Copyright and related rights waived via CC0.
