The 🔴Optimist: OP Superchain News #20-1
Layer 2, OP Stack, Optimism Superchain, DEFI
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 DEFI on Layer 2 chains.
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————————————— KEY TAKEAWAYS ——————————
🔴Season 5: The start of Superchain Governance
Season 5 will kick-off the Superchain Governance. Some pre-requisite are now under vote.
🟣Projects Research : Hunting OP Mainnet hidden GEMS💎
Get a full overview of promising & Top Tiers projects on OP Mainnet
🟠Podcast: Project interview (Updates & Roadmap)
The last 2 weeks, i was pleased to receive on Live :
Equilibria: Yield booster protocol built on top of Pendle
Penpie: Yield booster protocol built on top of Pendle
GOVERNANCE & VOTE TIMELINE
If you wish to delegate your OP Tokens to Subli => Go to this page, and click on DELEGATE. Delegate Address: 0x3b128c6c1207d72092a8b3f6d651dfe54682a404
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🔴Season 5 - The start of Superchain Governance
by Nataliii
So, Season 4 of Optimism Governance comes to an end and today we will talk about Season 5.
Firstly, the Optimism Collective expresses gratitude to delegates over the past Season. Rewards have been awarded for your contribution to development of Optimism Collective. You can find more details here.
Optimism Collective are currently in a Reflection Period (September 28th-December 22nd) and will kick-off Season 5 on January 4th, 2024:
What's new for us in season 5?
Let's take a look.
So, all the work of Season 5 will be aimed at achieving intents of Optimism Collective. There are 4 main intentions, that you can see below:
All work in the Collective should be aligned with these Intents.
Each Intents has its own budget*: these budgets will be be proposed by the elected Grants Council Lead in Season 5. Intent budgets may be proposed by a new Council in S6.*
More detailed decscription of main intents you can find here:
Main innovations of Season 5
For the first Intent - Progress Towards Technical Decentralization - the main innovation is that Season 5 will establish a Security Council that will enact upgrades for all OP Chains participating in the Superchain.
The Security Council would assume control of the keys required to:
Upgrade the L1 protocol contracts for all OP Chains participating in the Superchain
Modify designations for certain important roles in the system, such as sequencers (i.e., batchers), proposers, challengers, and membership on the Security Council multisig.
By creating and empowering this Security Council, the Collective can make significant steps towards key decentralization targets: ensuring no single party is able to upgrade the system, modify rollup state, or censor transactions.
2. For the second Intent - Grow the Superchain - Optimism Collective introduced Chain Delegation Program
This Program will allow OP Chains to receive temporary delegation from the Governance Fund, subject to Token House approval.
3. For the third Intent - Community Intent - Optimism Collective gave the community an opportunity to make suggestions. This was on Intent Setting Workshop hosted on October 11th. You can read more here.
And don’t forget to check governance calender in order not to miss important events.
4. For the fourth Intent - Improve Governance Accessibility - there are some innovations:
Season 5 introduces an Anticapture Commission, comprised of the Collective’s highest impact delegates. The commission will receive delegation from the Governance Fund to uphold a mandate to protect the Token House from capture by any one stakeholder
Code of Conduct
Token House Code of Conduct Council
Season 5 establishes Code of Conduct Councils to remove the Foundation (and non-Council delegates) from the Code of Conduct enforcement process
Trust Tiers determine the level of rewards teams can request, based on prior contributions to the Collective. Small updates have been made based on delegate feedback
Attestations
Attestations will be granted to high impact contributors such as: Council members; Developer Advisory Board members; Anticapture Commission members; Round 3 List makers; Round 3 recipients; SupportNERDs, techNERDs, NumbaNERDs, and govNERDs; Gravitrons
Thus, as we can see, in the fifth season it is planned to create and operate many new governance structures.
All experimental governance structures for Season 5 you can see below:
These structures may change, dissolve, and/or evolve over time because Optimism Collective still makes experiments.
Innovations will also affect Missions:
Missions are specific initiatives aimed at achieving one of the Intents. They are tightly scoped and can be accomplished start-to-finish in less than 12 months.
The Mission process has been restructured based on delegate feedback from Season 4. The below design addresses delegate feedback, optimizing for strategic alignment, reduction in delegate workload, higher context decision making, and streamlined processes across the Collective. The new process for Season 5 is illustrated below.
The schedule of events that await us before the start of season 5:
Reflection Period: September 28th - October 11th
Review proposals, provide feedback
Special Voting Cycle #16a: October 12th - October 25th
Council Nomination Period: October 26th - November 1st
Post your nominations here: Grants Council; Token House Code of Conduct Council
Special Voting Cycle #16b: November 2nd - November 15th
Vote on Intent Budgets (proposed by Grants Council Lead)
Ratification of Security Council Members (proposal draft coming soon)
Ratification of Law of Chains (proposal draft coming soon)
Vote on Multichain Prep Protocol Upgrade (proposal draft coming soon)
RetroPGF Round 3: November 6th - December 7th
Badgeholders will allocate 30M OP in Round 3 of RetroPGF
Season 5 Token House Prep: November 15th - December 22nd
Token House delegates will have time to draft Delegate Mission Requests 4 for Season 5
The Grants Council will establish its internal operating procedures and Season 5 Charter
The Developer Advisory Board will establish internal operating procedures, if approved
Holiday Break: December 22nd - January 4th
Season 5 begins: January 4th
One more important innovation: regular Voting Cycles will now be 3 weeks long, instead of 5 weeks long. Each Voting Cycle will have a 2 week review period, followed by a 1 week voting period. This update will be reflected in the next update of the Operating Manual, which will occur soon.
In summary: Season 5 introduces new initiatives that move us closer to Superchain governance and takes important steps to increase the resiliency of the Collective.
🟣Projects Research : Hunting OP Mainnet hidden GEMS💎
By Stacy
In the vast ecosystem of the decentralized landscape, the battle for supremacy among rollups is intense. While Arbitrum might boast a Total Value Locked (TVL) double that of Optimism, the latter has been making strategic moves that shouldn't be overlooked. With its unique OP Stack, Optimism has become a magnet, drawing various Layer-2 and appchain solutions to its fold.
The result? An ecosystem bustling with innovative decentralized applications (dApps) that may be the hidden gems of tomorrow.
The Dominant Players in the OP Landscape
As we deep dive into the heart of Optimism's landscape, some familiar names continue to stand tall. The decentralized exchange segment sees Velodrome holding its fort. Meanwhile, Aave remains undeterred by market dynamics, consistently expanding its TVL footprint across all chains. Not to be outdone, Synthetix proudly wears the crown as the dApp with the most substantial TVL on Optimism.
Yet, the real treasures might lie in the shadows, with several under-the-radar dApps poised for a breakthrough.
The dApps Worth Watching
1. Aevo (formerly Ribbon Finance)
Category: Options
This dApp is riding the wave of success, exhibiting a notable TVL growth of over 100% in just three months. Present across Ethereum, Arbitrum, and Optimism, Aevo's presence on Optimism is particularly noteworthy, already capturing 3% of the TVL, and this share is growing swiftly.
$AEVO Airdrop confirmed:
2. Aktionariat
Category: RWA
Pioneering in the realm of tokenizing shares, Aktionariat has made significant strides. With 41 Swiss companies under its belt, the platform is inching closer to the coveted $30M TVL mark. Impressively, almost a third of this value is tightly knit within the Optimism network.
3. Gyroscope Protocol
Category: CDP
Despite being a relatively new entrant, Gyroscope Protocol is turning heads. In less than half a year, it has emerged as one of Optimism's brightest stars, boasting a TVL close to $20M. The secret to its success? The P-GYD stablecoin, anchored on a diversified reserve, dynamic monetary policies, and cutting-edge Automated Market Makers (AMMs).
4. Metronome
Category: Synthetics
The tempo of Metronome's growth is hard to ignore. Operational on both Ethereum and Optimism, it has managed to accumulate a TVL surpassing $10M. Interestingly, Optimism is the favored platform, housing nearly 50% of the value.
5. Equilibria
Category: Yield
Billed as the inaugural yield booster designed atop Pendle, Equilibria has witnessed an impressive seven-fold TVL growth since June. As it flirts with the $50M TVL milestone, its cross-chain availability on Ethereum, Arbitrum, Optimism, and BNB Chain ensures it's a dApp to keep an eye on.
(Podcast with the team at the end of the newsletter)
In Conclusion
OP Mainnet’s vibrant ecosystem, enriched by the confluence of established leaders and emerging powerhouses, makes it a pivotal player in the decentralized world. As these dApps evolve, they not only reflect the dynamism of the chain but also hint at the boundless possibilities the future holds.
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🟠Podcast:
Note: The 🔴Optimistic Podcast partnered with Revelo Intel to provide written notes of all podcasts for free.
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.