The purpose of this meeting was to ensure that proposers had an opportunity to learn about the procedures in place for Cycle 10 and to understand the parameters and restrictions that apply to the two different forms of grant applications: Growth Experiments and Builders.

The primary deficiencies seen to date are (a) grants in excess of the maximum amount for the relevant sub-committee; and (b) violation of the “no sale rule” for Growth Experiments or one-year lockup for Builders. Grants that would require violation of the no sale rule in order to carry out their plans may be declined. If you are applying for a builders’ application and cannot abide by the no sale rule, the Foundation may have some solutions and you should reach out to @lavande on Discord.

tldr

On-time applicants have until Monday (Feb. 6) at 19:00 GMT to amend their applications to meet basic parameters. If you have difficulties editing your post, adding a comment to the proposal post with clarifying details will be sufficient. The basic parameters are as follows:

Resources

Useful resources on the restrictions that apply to the sale or use of OP tokens can be found here:

• Explainer: https://gov.optimism.io/t/grant-token-lock-explainer/5060

• The No Sale rule applies as follows:

  “OP received through Growth Experiments Grants should not be sold by the grant recipient. This “no sale” rule:

  • Includes the grant recipient, their affiliates and any other related persons. These persons cannot receive OP for the purpose of selling (or if the grant recipient knows they intend to sell) the tokens.
  • Includes the direct exchange of OP for crypto or fiat, whether done publicly or privately. Think selling OP in exchange for fiat or crypto, regardless of whether done on a CEX, DEX, OTC desk, at your local park, or otherwise.
  • Does not include using OP to incentivize usage. Providing OP as liquidity mining incentives is not restricted by these parameters.
  • There is no expiration to this rule for Growth Experiments Grants”
  • Refer here for the text of the rule.

The parameters that apply to the Growth Experiments and Builders grants can be found on the Sub-Committee landing pages.

Growth Experiments Sub-Committee

Builders Sub-Committee

Q&A

• How do I edit my application if I submitted a form?
  • Add a comment to the relevant post on the Governance Forum and ask @lavande to assign you ownership of the post.
• Can I apply for both kinds of grants?
  • For this Cycle, it is not recommended, as the deadline has passed. If you have articulated a grant plan that would require the receipt of both kinds of grants, consider applying for one in the current season and another in a subsequent season. The Council has the ability to consider an exception; however, applying for both types of grants may result in the rejection of both if one is dependent upon the other and one fails.
• How will the builder grants OP be locked?
  • This is being considered by the Foundation and will be clarified in the near term. The Council will also clarify the procedure for milestone verification, as benchmark determination is important for any smart contract lockup.
• How does a project apply to the OP Partner fund?
  • Currently, the Council will recommend promising applicants with ambitious projects that may be a better fit for OP Partner funding to the Foundation.
  • There is not a direct application line to the OP Partner fund.
  • This process will be developed over the course of the Season.