PIP-37: OP Grant Application - ParaSwap Staking Quest on Layer3

(This proposal has been authored by and posted on behalf of @brandonkumar)

Abstract Layer3 stands as a preeminent web3 education and exploration platform, offering premium content and experiences for both web3 users and developers. Our service and community of over 600,000 high-quality users have made us the preferred platform for more than 90 top web3 projects, including ParaSwap. Layer3 users participate in our immersive quests to discover and learn about Web3 applications and products in the safe and engaging environment of our platform.

Layer3’s support extends across more than 15 blockchains, encompassing all major L1s, zkSync, Polygon zkEVM, and other key L2s including Arbitrum and Optimism. With users completing more than 6 million on-chain actions monthly, Layer3 contributes significantly to the web3 ecosystem growth. Our work with Optimism alone has led to over 40,000 weekly active users, 100,000 monthly active users, and facilitated over 1.5 million monthly transactions.

Layer3 is seeking an OP grant from the ParaSwap DAO to build a staking PSP Staking Quest on Optimism.

Goals & review Layer3 is seeking an OP grant from the ParaSwap DAO to build a staking PSP Staking Quest on Optimism.

Layer3’s grant application aligns with the category of ‘Novel applications of ParaSwap’. Through our Quest, Layer3 aims to empower users to actively engage with ParaSwap’s staking mechanism on Optimism, resulting in initial liquidity bootstrapping on the chain, new user acquisition and community education.

Our grant application strongly aligns with Optimism's objectives of fostering growth within its ecosystem while promoting the use of ParaSwap to enhance dApp developers' access to DeFi services.

By building the PSP Staking Quest on Optimism, Layer3 will actively contribute to the expansion of the Optimism ecosystem and the growth of the ParaSwap protocol in the chain. The Quest serves as an immersive educational tool that not only educates users about the benefits of staking PSP but also showcases the many features of ParaSwap.

Estimations of users completing the tasks are difficult to do as it depends on several conditions, some of which are under our control and others are not.

However, based on the results of the pervious Layer3 PSP staking campaign results which was done on mainnet, we can expect, at least, to reach the same amount of users completing the campaign (1,039 addresses completed the previous campaign).

If we take into consideration that mainnet gas fees are 7x higher than Optimism (source: https://l2fees.info/) and that this campaign will be incentivizing users who complete the campaign, we may aim to double the users completing the task (2,078 campaign completions).

• Base scenario: 1,039 addresses staking at least $50 on sePSP2 on Optimism = $51k TVL and 1,039 new PSP stakers on Optimism
• Optimistic scenario: 2,078 addresses staking at least $50 on sePSP2 on Optimism = $102k TVL and 1,039 new PSP stakers on Optimism

Means Requested funding is $15,000 in OP + matching amount of PSP.

Of the requested amount, $7,500 will be used for covering Layer3 expenses while the rest will be used to incentivize users completing the campaign and holding sePSP2 after the end of it.

Implementation Overview Layer3 will provide the following:

• Quest Development & Production
  • Concept and design for ParaSwap Staking Quest
  • Creation of Quest content (e.g. copy, images, animations, videos, etc.)
  • Development of Quest functionality
  • Testing and quality assurance
• Marketing & Promotion
  • Development and execution of a comprehensive marketing and promotion plan for the Quest
  • Creation of marketing materials (e.g. social media posts, email campaigns, banner, etc)
• Technical Support & User Assistance
  • Ongoing technical support to ensure the Quest runs smoothly and any issues are resolved quickly
  • User assistance to help participants navigate the Quest and troubleshoot any problems
• Reporting
  • Reporting and documentation to provide regular updates on progress and ensure transparency with the ParaSwap community