Program Information

• Perpetual Protocol

• Proposal Phase 0 Cycle 1 - 9,000,000 OP - May 3, 2022

• Optimism Voting Cycle #1 Phase 0 June 9, 2022

• Vote Snapshot 1(June 10-23, 2022)

  The votes for passing proposals in the early stage were batched for one time covering all the backlog of proposals on Snapshot.

• Initial transfer from OP Foundation to Perp L2 Recipient Address July 8, 2022

Key Takeaways

General observations across projects.

• Builder grants proposed by most projects have been highly ignored, whereas, without the growth of mutual benefits, there is no ecosystem which can help one grow.
• Large pie of the distribution ends up in very addresses, raising a concern on benefitting whales/insider/misappropriation. This can be addressed by transparent reporting by the grantees.

Project Specific Observations.

• The Optimism grant has definitely unlocked the growth of Perpetual Protocol, adding a member to the ecosystem where the benefits can be shared later if not now.
• The Perpetual team has kept the flow of rewards and transactions clean compared to other grantees. Being one of the largest recipients of the grant, the team stands ready for the tailwind.

Distribution

Twitter Announcement

As originally proposed, distribution was to be carried out in three broad heads with Liquidity Mining using 8M OP and builder Acquisition using the remaining 1M OP.

The following distribution is as we see it and the numbers are as it happened.

1. Liquidity Acquisition: are incentive for lenders to lend any type of collateral to the Market Making Entity (1.8mn)
2. Liquidity Mining: are incentive for market makers to ensure deep liquidity and the best experience for traders (5.7mn)
3. Builder Acquisition: we will extend our current grants program and further incentivise builders to build on top of Perp and utilize Perp as a base layer (0.5mn)