[TEMP CHECK] Allocation of 300k OP Received by Aave Grants DAO

Title: [TEMP CHECK] Allocation of 300k OP Received by Aave Grants DAO

Author: @0xbilll [Aave Grants DAO]

Created: 2023-04-19

---

Simple Summary

This proposal is for the community’s approval as to how Aave Grants DAO (AGD) should allocate the 300,000 OP tokens received as part of OP Stimpack phase 0. We are proposing allocating up to 100,000 OP as part of the current AGD proposal and keeping the remaining 200,000 OP in the AGD multisig for future seasons of AGD.

Background

Last year, we created a proposal and successfully received 300,000 OP tokens as part of phase 0 of OP Stimpack. The tokens are to go towards funding projects to help grow Aave on Optimism. The original post in the Optimism forum states:

AGD has funded multiple projects building on Optimism with funds received from Aave DAO. These include:

● Analytics from DappLooker, Block Analitica & Projection Finance

● Integrations with Mean Finance, Layer3 & DeFunds

● Native apps like Pegasus Finance, Lyra Finance & Cetra Finance

This proposal seeks to clarify and gain community support as to how the OP received should be allocated.

Proposed Allocation

The proposal recommends allocating up to 100k OP to be used in the same timeline as the current AGD engagement and keeping the remaining 200k OP in the AGD multisig for use in future quarters of AGD. We are thankful to Optimism for receiving these funds. We want to exercise diligence in allocating them and believe that at current market prices, the original amount received can support several quarters of AGD. Separating these amounts will ensure long-term support for teams building in the Aave Optimism ecosystem.

For the 100k OP to distribute under the current AGD engagement, we propose a breakdown of funds similar to what was outlined in the original post on the Optimism forum: 2/3rds to grants and 1/3rd to events.

1. Optimism focused grants: up to 2/3rds

• For the grants portion, the OP will be distributed to grant recipients focused on growing Aave on Optimism. Going forward, and aligned with our current proposal, we will place a larger focus on funding projects related to growing GHO on Optimism. To help attract builders and grow awareness, we will push a wider marketing effort about the campaign.

2. Optimism focused events & bounties: up to 1/3rd

• The main area this will go to is sponsoring bounties and prizes at hackathons for teams building to support or grow the Aave Optimism ecosystem.

• These bounties will be in addition to the bounties AGD is already planning to offer at hackathons. Since AGD is already sponsoring these events, all of the sponsorship fees and other overhead costs that would be required are already covered, making this an effective way to put the OP to use.

Any unused funds will remain in the treasury and can be allocated in future AGD proposals. Updates on OP spent will be included periodically in AGD’s monthly forum updates.

Next Steps

Temperature Check: Gather community feedback and assess sentiment towards the proposal.

Snapshot: If positive, AGD will proceed with the allocation of funds as described above. No AIP or further governance action is required.