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Retro Funding Strategy
Retro Funding Strategy
Optimism's growth depends on its ecosystem. Apps that attract users, protocol upgrades that innovate, and governance that maintains trust. Funding the right contributors is one of the highest leverage bets Optimism can make to accelerate growth.
The bet: 850M OP tokens committed to fund ecosystem growth—valued at $2B when announced.
Optimism's growth depends on its ecosystem. Apps that attract users, protocol upgrades that innovate, and governance that maintains trust. Funding the right contributors is one of the highest leverage bets Optimism can make to accelerate growth.
The bet: 850M OP tokens committed to fund ecosystem growth—valued at $2B when announced.
Optimism's growth depends on its ecosystem. Apps that attract users, protocol upgrades that innovate, and governance that maintains trust. Funding the right contributors is one of the highest leverage bets Optimism can make to accelerate growth.
The bet: 850M OP tokens committed to fund ecosystem growth—valued at $2B when announced.
Funding decisions are controlled by the governing body
Optimism is a DAO* and treasury decisions are controlled by its governing body. The voting body must:
Agree to round budgets
Review applicants and assign rewards or
Approve the metrics and algorithms used to assign rewards
Funding decisions are controlled by the governing body
Optimism is a DAO* and treasury decisions are controlled by its governing body. The voting body must:
Agree to round budgets
Review applicants and assign rewards or
Approve the metrics and algorithms used to assign rewards
140+
Citizen Voters
50+
Guest Voters
Hundreds of eligible projects
Hundreds of eligible projects
Hundreds of eligible projects
Different kinds of contributions
Different kinds of contributions
Different kinds of contributions
Intelligence tools are nascent
Intelligence tools are nascent
Intelligence tools are nascent
Core problem
Retro Funding relied on disparate tools, human review, and subjective judgement, rather than data-informed decisions.
Core problem
Retro Funding relied on disparate tools, human review, and subjective judgement, rather than data-informed decisions.
The system lacked structure
A lack of shared infrastructure and standard inputs meant that contributors, voters, and Optimism face challenges when comparing projects, allocating rewards, and ultimately reviewing the program for impact.
Decision quality was inconsistent
Without structured ways to compare projects and allocate rewards, voting outcomes felt subjective and were ultimately divergent from business expectations.
Impact wasn’t measurable
Without metrics, funding is distributed without a clear understanding of relative impact among projects, and ultimately the program can’t learn from its own previous rounds.
How do you allocate billions of dollars responsibly in a decentralized system where metrics are incomplete, impact is hard to compare, and decisions must be made by governance?
How do you allocate billions of dollars responsibly in a decentralized system where metrics are incomplete, impact is hard to compare, and decisions must be made by governance?
Our strategy was to create infrastructure that enabled a human-guided, metrics-driven Retro Funding program
Our strategy was to create infrastructure that enabled a human-guided, metrics-driven Retro Funding program
Our strategy was to create infrastructure that enabled a human-guided, metrics-driven Retro Funding program
Objective metrics where possible
Objective metrics where possible
Objective metrics where possible
Seek structure for evaluation
Seek structure for evaluation
Seek structure for evaluation
Reduce workload for voters
Reduce workload for voters
Reduce workload for voters
Automate where possible
Automate where possible
Automate where possible
01 Structured Inputs
01 Structured Inputs
We created Optimism’s first ecosystem project registry
We created Optimism’s first ecosystem project registry
We created Optimism’s first ecosystem project registry
We captured necessary data to make impact measurement more objective
We captured necessary data to make impact measurement more objective
We captured necessary data to make impact measurement more objective
02 Reduced Workload for Voters
02 Reduced Workload for Voters
We introduced a new format for funding rounds: four rounds per year
We introduced a new format for funding rounds: four rounds per year
We introduced a new format for funding rounds: four rounds per year
03 Objective Decision Making
03 Objective Decision Making
We built voting systems that prioritized metrics and structured information
We built voting systems that prioritized metrics and structured information
We built voting systems that prioritized metrics and structured information
We designed frameworks that helped voters allocate rewards effectively
We designed frameworks that helped voters allocate rewards effectively
We designed frameworks that helped voters allocate rewards effectively
Later, we removed the task of reviewing projects, and instead voted on metrics
Later, we removed the task of reviewing projects, and instead voted on metrics
Later, we removed the task of reviewing projects, and instead voted on metrics
Optimism Atlas was built around this infrastructure—expanding to include all grant programs, grant recipients, citizenship, and more.
Optimism Atlas was built around this infrastructure—expanding to include all grant programs, grant recipients, citizenship, and more.
Optimism Atlas was built around this infrastructure—expanding to include all grant programs, grant recipients, citizenship, and more.
1000+ projects recorded in project registry
100% of apps connected at least one onchain contract
100% of dev tools connected GitHub
100% of protocol projects connected GitHub
Voter time spent reduced from 30 to <10 hours per round
Voter confidence score improved from 3/7 to 6/7
Reward allocations 70% closer to business expectations
1000+ projects recorded in project registry
100% of apps connected at least one onchain contract
100% of dev tools connected GitHub
100% of protocol projects connected GitHub
Voter time spent reduced from 30 to <10 hours per round
Voter confidence score improved from 3/7 to 6/7
Reward allocations 70% closer to business expectations
1000+ projects recorded in OP Atlas
100% of apps connected onchain contracts
100% of dev tools connected GitHub
100% of protocol projects connected GitHub
Voter time reduced from 30 to <10 hours per round
Voter confidence score improved from 3/7 to 6/7
Reward allocations 70% closer to expectations
I was product design lead on this strategy and its correlated initiatives
This effort was about workflows and systems. We stayed scrappy, utilizing open source design systems and prioritizing function over form.
I was product design lead on this strategy and its correlated initiatives
This effort was about workflows and systems. We stayed scrappy, utilizing open source design systems and prioritizing function over form.
Shaped strategy
Shaped strategy
Shaped strategy
Defined the roadmap
Defined the roadmap
Defined the roadmap
Led research with contributors and voters
Led research with contributors and voters
Led research with contributors and voters
Designed frameworks for Atlas and Voting App
Designed frameworks for Atlas and Voting App
Designed frameworks for Atlas and Voting App
Directed engineers
Directed engineers
Directed engineers
Stats Site
Stats Site
It's been a brutal year for the OP token, impacting ecosystem growth, deal making, and hiring.
It's been a brutal year for the OP token, impacting ecosystem growth, deal making, and hiring.
A site focused on partner chains and metrics will help people understand what the Superchain is, how it’s performing, and how it impacts Optimism’s business
A site focused on partner chains and metrics will help people understand what the Superchain is, how it’s performing, and how it impacts Optimism’s business
Interactive visualization communicates who’s in the Superchain and how they’re related to Optimism
Interactive visualization communicates who’s in the Superchain and how they’re related to Optimism
Interactive visualization communicates who’s in the Superchain and how they’re related to Optimism
Market share is prioritized, driving home the message that the Superchain is winning
Market share is prioritized, driving home the message that the Superchain is winning
Market share is prioritized, driving home the message that the Superchain is winning
Source of truth for members and metrics: “12% of all of crypto is actually pretty massive”
Source of truth for members and metrics: “12% of all of crypto is actually pretty massive”
Source of truth for members and metrics: “12% of all of crypto is actually pretty massive”
User research and surveys confirm viewer comprehension
Positive response from key investors like A16Z, Paradigm, Dragonfly
Positive feedback on Twitter
500+ site visits from recurring Twitter posts
User research and surveys confirm viewer comprehension
Positive response from key investors like A16Z, Paradigm, Dragonfly
Positive feedback on Twitter
500+ site visits from recurring Twitter posts
User research and surveys confirm viewer comprehension
Positive response from key investors like A16Z, Paradigm, Dragonfly
Positive feedback on Twitter
500+ site visits from recurring Twitter posts
I pitched and led design on this small initiative
Shaped strategy
Shaped strategy
Shaped strategy
Designed site and interactive components
Designed site and interactive components
Designed site and interactive components
Supported research with community
Supported research with community
Supported research with community
Directed engineers
Directed engineers
Directed engineers