Program Information

• Celer

• Proposal May 28, 2022

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

• Vote Snapshot(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 Optimism Foundation to Celer - Aug 4, 2022

• Intermediate Wallet holding remaining tokens to be deployed - Dry Powder.

Key Takeaways

• In the campaign’s early stage, offering Liquidity Rewards was effective in boosting the Total Value Locked during that time frame.
• A substantial amount of funding remains unallocated to any program, impacting Celer’s potential to expand within the Optimism ecosystem.
• Celer employed a strategy to attract USDC, USDT, and ETH by using a capital-efficient approach to incentivize liquidity providers.

Distribution

• Celer has received 1,000,000 OP tokens from the Optimism Governance Fund. Initial funding distribution highlighted in the proposal included 650,000 OP for the Liquidity Mining Program aimed at increasing depth liquidity pools on Celer, 150,000 OP for User Onboarding by Incentivizing early migrants to Optimism with Gas Fee Rebates/Discounts & 200,000 OP for Builder Grants increasing cross chain adaptation along with cBridge Widget Integration.
• The grant period mentioned in the proposal suggested six months to one year. Currently, we are past the year benchmark and more than 75% remaining unallotted.

Program Overview

• Celer has implemented two comprehensive programs known as the Farming Reward Program and the Incentive Event Reward Contract. No details for the Builder Grants Program were found on Celer Forum nor any public updates provided about it.