OP Superchain News #19-1
The one & unique Newsletter on the Optimism Superchain written by Users for Users
First of all, i’d like to express my thanks to you readers, for your comments, support, likes on this Journey. Big 👏 to the team for making The Optimist the go-to Media for everything about the OP Stack.
And finally, welcome to the 111 new subscribers to this newsletter.🚀🚀
Subscribe for free to not miss anything on the Optimism Superchain.
Click in your preferred language to access the translated document:
Chinese - Filipino - French - Japanese - Korean - Persian - Portuguese - Russian - Spanish - Thai - Turkish - Vietnamese
TOPICS OF THE WEEK - SPORTS BETTING
🔴Governance: RPGF 3
If you don’t know what is RPGF, or are missing some information on who & how to apply for it before October 23rd, sit down & enjoy the reading.
🟣Projects Research : Sport_Fi
Welcome in the decentralized world of Sport betting. Who are the actual players or who are the top leaders? What are the ongoing innovations? This might be a narrative that could see amazing growth for 2024/2025.
🟠Podcast: Project interview (Updates & Roadmap)
The last 2 weeks, i was pleased to receive on Live :
Timeswap
Oath Foundation & Bond Protocol: Option token & new tokenomics model
Podcasts available at the end of the newsletter
GOVERNANCE TIMELINE
🟢 RPGF 3 sign-up is live - Sign up before 23-October 🟢
If you wish to delegate your OP Tokens to Subli => Go to this page, and click on DELEGATE. Delegate Address: 0x3b128c6c1207d72092a8b3f6d651dfe54682a404
Spotlight Section: BookieBot.
BookieBot. is an official sponsor of The Optimist newsletter.
Powered by Overtime, BookieBot. is bringing alive fully Onchain Sports betting on OP Mainnet. Parlays, Player props…and more, BET on 10 different sports, and several leagues or players.
Bet from your Mobile phone, through an amazing Telegram Bot, with fast & cheap transactions, while keeping full custody of your funds & no KYC.
Wanna bet you will click this link HERE ? Odds: 1.15
🔴Governance: RPGF #3
by Nataliii
One of the most relevant topics for the entire Optimism community right now is RetroPGF Round 3. I think that everyone has already seen the tweet about the start of submitting applications for RetroPGF Round 3 and official article, but if no - look at this:
In this round, the team allocated as much as $30m OР will be allocated to the builders, artists, creators, and educators who have demonstrated their impact in building the Optimism Collective.
So, in this article you will read all you need to know about RPGF #3, let’s go.
What is RPGF?
Let's find out what it is and talk a little about its history.
Retroactive Public Goods Funding (or RetroPGF or RPGF) - it is a program to encourage projects that are related to Optimism and allow you to attract more users to Superchain (OP, Base, Zora).
For today, 2 rounds of RetroPGF have already been completed and the third round is going now.
You can clearly see in the picture below how the amount of rewards allocated by the team for projects increases with each subsequent round from $1m to $30m OP.
It is also interesting to observe the statistics of the increase in the number of projects that submitted their applications: 106 projects in Round #1 vs 195 projects in Round #2.
As we can see, the number has increased almost 2x. With the increase in the number of projects on OP and the creation of SuperChain, we should expect an increase in the number of applications in Round #3 to 300-400.
The Schedule of RPGF #3:
1. Project Applications: Sept 19th - Oct 23rd
2. Voting: November 6th - December 7th
3. Results & Token Disbursement: Starting early January
Who is eligible?
In this round, the team does not make requirements regarding the type of your activity in Optimism. The key factor is the impact of your activity on users and the development of the Superchain. If you’re providing impact to the Optimism Collective, you are eligible!
Your project doesn't even have to be built on Op Mainnet. You also can apply for projects includes the Superchain (Base, Zora). All you need is providing impact to the Optimism Collective.
Can artists and non technical folks get accepted for retroPGF? Yes! All types of contributors are accepted.
The team does not limit you by the number of applications, you can apply for 1, 2, 3 or more projects, so long as there is no overlap in the work.
So, as you ca see the current round is the largest of the previous ones and the most open for projects of any kind. So, artists, creators, writers, builders, etc - welcome.
Categories:
There are 4 categories in RPGF #3:
OP Stack
Collective Governance
Developer Ecosystem
End User Experience & Adoption
You can select multiple categories, but try to select the categories that best describe your impact!
In your application, you will definitely need to describe how your project has had an impact on Optimism Collective.
Describe the tangible and intangible benefits of your project (maybe your project has allowed you to attract new users to Superchain or attract new investments in development of Optimism Collective or maybe you have proposed new technologies that improve current OP Mainnet etc)
You will also need to attach metrics demonstrating the impact of your project
The more impact your project has had, the more chances you have to receive a RetroPGF, so focus on your influence, clearly demonstrate statistics.
RetroPGF #3 will conclude in January 2024, OP disbursements will follow and be streamed to you over 90 days.
If you need to read more details you can go to official website and Optimism Blog.
👉 So, now you know everything about RetroPGF Round #3 and if you want to participate, applications are open! You can apply here until October 23rd.
🟣Projects Research : Sport_Fi
By Subli
What is Sport_Fi?
Coingecko reports a market cap of 0.6 billion USD for web 3 GAMBLING, encompassing both Casino and Sports Betting. The sports betting market in Web 2 was valued at 83.6 billion USD in 2022 by GrandViewResearch, expected to surpass 180 billion USD by 2030.
Sport is worldwide, and maybe the most common we have all together on earth. Sportbetting’s growth was amplified during the COVID pandemic, with Europe leading, closely followed by Asia. The US, however, faces certain restrictions.
Sports Betting Market: Problems & Solutions
Traditional sports betting poses issues such as:
KYC requirements
Country/Currency restrictions
Price manipulation
User bans
Gambling USA states restriction
Many traditional finance (Tradfi) products have transitioned to onchain solutions. Sports betting is no different, following a similar trajectory as exchanges:
Traditional platforms using brokers
Centralized platforms with cryptocurrency integration
Fully decentralized platforms utilizing cryptocurrency
Sports betting:
Step 0: Tradfi sportsbook brokers
Step 1: Centralized Sportsbook accepting Crypto (Rollbit, Stake)
Step 2: Fully onchain Sportsbook using Crypto (Overtime with different front ends like Bookie Bot, SX_Bet, Azuro with different front ends like Bookmaker)
WEB 2.5: Rollbit & Stake
Rollbit & Stake are the 2 largest centralized Sportsbook platforms on which you can pay with Crypto.
Rollbit, founded in 2020, is deployed on Solana & Ethereum Mainnet with sports contributing to 12% of its daily revenue.
On the other Side, Stake, established in 2017, reported a staggering 2.6 billion USD revenue in 2022, cementing its position as a global leader.
Web 3 Sportsbook on Optimism
If you don’t know overtime, it’s a fully onchain Sportsbook available on Optimism, Arbitrum & Base where you can do: Parlays/Player props on 10 different sports and multiple leagues.
Overtime stakeholders:
End users placing bets
Liquidity Providers (LPs) who ensure better odds and essentially represent the house. If betters loose, the house (aka LPer) wins, and vice versa.
Overtime Metrics:
Average daily volume: 220k$
Average daily users: 200
600k$ revenue in a Year
Overtime has announced lately that different front ends are building on top of it. Why? Easing the User Experience of end users in the aim of attracting more volume.
→ Overtime focuses on integrating more sports, more betting options
→ Front ends focuses on User Interface & Experience to reach a greater audience?
I was lucky enough to test the freshly deployed Telegram Bot of BookieBot on Optimism, and I must say their UX is great.
BookieBot, a recent addition built on Overtime, has garnered attention for its impressive user experience (UX), especially its Telegram Bot integration. While BookieBot sponsors this newsletter, the opinions expressed here are my own, are unbiased and based on firsthand experience. If the project was shit, i wouldn’t care spending hours to write an article on it.
For more info about BookieBot, you can read this very detailed thread by Linn:
BookieBot Highlights:
1-click wallet creation
No KYC requirements
Global access via Telegram Bot
Simplified betting process
Cost-effective and swift transactions
What’s 🌶HOT about BookieBot?
If you haven’t listened to this space hosted by The Rollup, i would advise you too:
Betters receive 10% of BookieBot revenue 🔥🔥
Trading volume going exponential (Overtime not being live at the time of snapshot). Thanks to Whale_Hunter for having made this brand new dashboard
You can bet using: USDT/ETH/USDC/sUSD
BookieBot revenue comes bets made on all platforms (Overtime & Azuro)
The most significant slice of the cake of revenue sharing goes to BB token holders (you need to hold min 100x BB).
1st month of revenue sharing was 156 ETH🤯. but mind, that 90% of this came from Trading tax fees, but this is interesting and worked very well on other TG bots.
Current weekly revenue = 3ETH (P/S = 14)
100% of BB token supplied at launch. BB token is available on Ethereum Mainnet only. Distribution is therefore quiet healthy (I love this tool Bubblemap, really awesome!)
Conclusion
RollBit has seen an amazing growth since the past few months with a MC at 500m$.
So what could happen to Overtime, BookieBot and all the other WEB3 sportsbetting platforms ?
I expect the adoption of Centralized platforms is just a pre-requisite to onboard people in Web 3 platforms. Secondly, these projects need to focus on Crypto Native users. We have all in mind Luna, FTX, Celsius, 3-Arrow, etc…. I really doubt that users who lost hundred of millions on FTX will deposit his next funds into a centralized platform.
The emphasis then shifts to security and sustainability. Investing in Web 3 projects that prioritize security, backed by multiple audits and bug bounty programs, becomes paramount. Furthermore, tokenomics grounded in tangible yield rather than mere inflation is a defining criterion.
Overtime does not have any token, so liquidity attraction is only done through real yield. Revenue accrual mechanism is brought back to Thales token, so worth keeping an eye on it.
Finally, if you want to read the docs: https://bookiebot.gitbook.io/product-docs/
🟠Podcast:
Note: The 🔴Optimistic Podcast partnered with Revelo Intel to provide written notes of some of the podcasts. Access granted to Revelo members.
Optimism Twitter accounts:
@OPLabsPBC for protocol development
@OptimismGov for governance
@OptimismGrants for Grant Council uipdates
Optimism Website:
Base Social links
Twitter: @BuildOnBase
The Optimist Social accounts:
Discord Handle: Subli#0257
Twitter: The Optimist
Farcaster: Subli_Defi
Notion (Research database): https://sublidefi.notion.site/sublidefi/Subli_Defi-c57a3141c983433ca74e785a0bf1bcd0
Youtube: https://www.youtube.com/c/Subli_Defi
Disclaimer: Nothing in this content is financial advice. We may have some positions on the presented projects, however these articles are written in a non biais way so that you can make you own opinion out of it.
Do your own research before investing, and remember that Crypto is extremely volatile and risky.