Hey anon, you’re busy with Arbi Odyssey but we really need to talk about Optimism’s Citizenship NFT. We did some digging ⛏️ and have a clear 💡 now on how to get it 👀

Remember: bera markets are temporary but NFTs are forever. We think it’s worth trying to get one. See why 👇🧵

1/ 

So we listened to this:
https://www.youtube.com/watch?v=t3mPfYR2fbk

🚨TL;DR Alpha🚨
Join Discord servers of projects on Optimism & start contributing (earn a role). Projects will eventually give out Citizens NFTs. 

1️⃣ What do we know? 2️⃣ Which projects exactly? 3️⃣ Why should you want one? 👇

2/ 
First, recap:

Op Governance is split into 2 houses. Token House is governed by $OP holders and was initiated via Airdrop 1. Citizens' House is governed by NFTs but they aren't distributed yet. Houses will keep each other in check and govern some different & overlapping areas

3/ 
Introduction of Citizens' House is a governance innovation and is aimed to include 'contributors' and 'good citizens' that don't necessarily view $OP's price as singular aim of the project. 

Naturally, we're as excited about this as @VitalikButerin:
https://twitter.com/vitalikbuterin/status/1532533086352576512?s=21&t=TLDDl42n3gM3dGsw3GTPiA

4/ 1️⃣ What do we know about the Citizens' NFT?

NFT: 
💯 soulbound (ie non-transferrable/ can't be traded)
❔ likely 1 per wallet

NFT’s function in Citizens' House: 
💯 covers public goods funding decisions
💯 1 NFT = 1 vote

7/ 1️⃣ What do we know?

Distribution: 
💯 not for sale
💯 to be partially distributed by Op projects
💯 supply grows over ⌛
💯 phased stages ('iterative experiments') -> some projects to get their NFTs sooner than others
💯 wen? phase 1 later this year

8/ 1️⃣ What do we know?

Distribution:
❓ how will the projects decide on distribution? TBC, but we think that NFTs are more likely to go to active contributors (Discord contributors, Github, governance participants, etc) and less likely to just users of their app. 

9/ 1️⃣ What do we know?

Distribution:
Smaller communities may still resort to reviewing app usage, depending on how many NFTs they get. But we still think that active contributors are likely to get it first and foremost, since it's more in line with the spirt of Citizens’ House

10/ 1️⃣ What do we know?

⚠️Note that these are just the initial thoughts of the Foundation and things may change, with the exception to it being SBT, not for sale and it being separate from $OP holders and Token House

11/ 2️⃣ Which projects exactly?

This is all an experiment 🧪. So we'll see phases where: 
1) small number of projects get NFTs first
2) they hand them out 
3) voting happens
4) foundation reviews this phase + makes changes
5) next phase begins with more projects and more NFTs

12/ 2️⃣ Which projects exactly?

So who'll be included in the earlier phases? Our bet is on projects native to Optimism + those with higher TVL/importance. Foundation showed preference towards them during the Stimpack Gov Fund allocation. We think it'll be the same here. The list:

13/ 2️⃣ Which projects exactly?

🚨Here’s your TO DO list to prep for Citizen NFT🚨:

✔️ Choose the project you like from this list + start contributing in Discord/Github/both
✔️ Use these apps and participate in governance (where available)

14/ 2️⃣ Which projects exactly?

Tactically, higher imp./TVL + smaller community may be your best bet to stand out as contributor 🙋‍♂️ as it’s not as busy (Quixotic? Pika?)

But a better way is to pick one that ultimately aligns with your interests + community that u vibe with 💟

15/ 3️⃣ Why should you want one?

Hang on, if it can’t be sold, why try to get one 🤔? 

Few reasons. Think back to the nature of the Citizens' House. Given the 1 vote per 1 wallet and the distribution mechanism, each NFT holder can essentially be viewed as a Congress Senator 👩‍💼👨🏽‍💼

16/ 3️⃣ Why should you want one?

NFT holders to decide who gets 20% of $OP token allocation (+revenue from sequencer in future) as retro public goods funding. In this context, NFT holders will be making important decisions, just as politicians decide on gov budget allocation

17/ 3️⃣ Why should you want one?

🔸 Web3 Reputation. Holders are likely to have a certain standing within Optimism community. Your profile will accrue reputation that can translate into Web3 points (eg in DegenScore-like apps). This can in turn unlock WLs + all sorts of perks

18/ 3️⃣ Why should you want one?

🔸 Airdrops 🪂 from apps to attract ‘good citizens’. +Will we see bribes from apps wishing to sway votes? Might be problematic for governance in general if it turns out this way, but if politicians get offered bribes IRL, same might happen in Web3

19/ 3️⃣ Why should you want one?

🔸 Even if there's no 💸 rewards, this is a perfect chance to get involved in an interesting experiment. There's a level playing field now for those who can't afford big bags of $OP to make impact on voting. Add this to your #ImBroke list, anon 👻

20/ 🤔 Closing thoughts 

As mentioned above, there are couple of concerns that may need to be addressed wrt to the Citizens' House. 

1st, will bribes be an issue, especially given the smaller initial supply that is easier to manipulate?

21/ 🤔 Closing thoughts

2nd, if native apps get bigger allocation, then Synthetix ecosystem is likely to get significant supply in comparison to other projects. They're decentralized, but Kain's influence over the decisions is unquestionable. Might they end up running the 🎭?


22/ 🤔 Closing thoughts

The iterative nature of the process is a good thing, as we hope that our concerns get addressed with time or won't be an issue at all. In the end, bicameral system looks like a step in the right direction as it resembles well-functioning democracies IRL 

23/ 

Wait, what about #Airdrop 2? Don’t worry, anon, we'll talk about it soon. Here's some sneak peak of 🚨alpha🚨 that we'll cover in one of the upcoming threads 👀. Airdrop 2 isn't coming this summer but “much later” 😞. But stay tuned for more from us in the meantime 🕵️‍♀️🔎

You can read the unrolled version of this thread here: https://typefully.com/WagameEth/npvS43f

1/ Hey Anon, missed out on @OptimismPBC #airdrop 😭? Fear not! They announced ~230M $OP token fund to “incentivize growth” as part of Token House initiative (read: user rewards 🪂). We answer your burning questions - what’s the deal and what should be your play on this 🦍? 
🧵👇

2/ What’s the deal? Ecosystem growth fund that will allocate 5.4% of total $OP supply to projects so they pass this on to participants to encourage growth 🤑. This is NOT your Airdrop #2! Airdrop 2 is a separate pot that is yet TBC

3/ Fund allocation has 2 phases: Phase 0️⃣ (3-24 May) has 27 biggest OP apps get 300k-9mln tokens. Native apps get a whopping x3 multiplier. Projects MUST make proposal on how their allocation be used to spur growth. $OP holders then vote on it 🗳. If passed, projects get their💰

4/ Phase 1️⃣ (post-Phase 0) will focus on the growth segment. Any project will be able to submit a proposal for $OP holders approval. A total of ~207mln tokens are up for grabs and there is NO limit on how much a single project can apply for 👀

5/ To summarise 📝: 
Phase 0️⃣: 36.6mln tokens. 27 apps can apply to get between 300k-9mln, depending on their tier. 3-24 May. 
Phase 1️⃣: 207.4mln tokens. Any app can apply for ANY amount of tokens. Post-24 May. 
Both: All projects need to apply and get approved by $OP holders.

6/ So what should be your play on this? 🦍 

🚨 First, start using the Phase 0️⃣ apps now. We like @perpprotocol, @PolynomialFinance, @zip_swap, and @Pikaprotcol. Some apps like @lyrafinance are promising both future and retro rewards 🪂already 👀. Jump to 16/ for more projects

7/ 🚨 Second, when it’s time to vote for project proposals, ⚠️VOTE ⚠️. Projects aren’t competing with each other in Phase 0️⃣, but we fully expect a dejavú of Arbitrum Odyssey voting with offers of bribes, perhaps beyond just POAPs 👀🤫. Voting in Phase 1️⃣ should also be rewarding

8/ Participating in governance might also be the criteria for Optimism Airdrop #2 , especially given that mainnet DAO voters were rewarded in Airdrop #1. 
🔴 Will get $OP via Airdrop #1? Don’t dump all of it! 
🔴 Don’t have $OP to claim? Prepare to get some on the secondary!

9/ 🚨 Third, don’t disregard apps that didn’t make the cut to Phase 0️⃣. Many will now focus on the big boys, but Phase 1️⃣ might surprise us with interesting proposals. They’re unlikely to receive as much $OP allocation but the pie gets divided amongst fewer users 🙇‍♂️

10/ Some fan favorites like @Quixotic_io are likely to get $OP allocation during this phase. OP is trying to push for NFTs and Quixotic is in a good position to get special attention https://twitter.com/kevinjho_/status/1521626066330214401?s=21&t=BZ4pt7nEYltPeBs2pBkxew

11/ Use Quixotic today and check out other smaller projects on #Optimism. You may get classed as ‘early supporter’ and who knows what surprises might come up if the project gets $OP allocation?🔴 @0xngmi maintains an up-to-date list of apps at  @defillama  https://defillama.com/chain/Optimism

12/ As the result of the above actions, you might earn yourself multiple rewards from both the projects and OP itself - all while earning yield using innovative products and becoming the #L222 OG 😎 

Get started now, we agree with @defi_airdrops 
https://twitter.com/defi_airdrops/status/1522221446256230400?s=20&t=Und991A2QtgQ272jTIqQwg 

13/ for those new to @OptimismPBC, here the TL;DR version of the onboarding steps:
First, you'll need a non-custodial EVM wallet, we prefer @Rabby_io for its speed, ease of use and packed features (eg various HW wallets supported, token approval management, multi-chain, etc)

14/ Next, you will need some ETH to pay Gasfees for TX on Optimism. Since there are few options from CEX (Coinbase, Binance etc.) and because we prefer permissionless systems, we use @HopProtocol (arguably the most trust-minimized bridge) to send funds over from the Mainnet

15/ Have funds on Avalanche or BNB-Chain and don't want to miss out from #OPSummer?  Don't have any ETH? @BungeeExchange is for you & the handy "Refuel" feature got you covered: swap from BNB or AVAX to a small amount of ETH on destination. @vaibhavchellani, wen Optimism?

16/ Ready to get started on @OptimismPBC? Let's explore some underrated projects with $OP allocation - keep on reading anon, we are dropping some serious alpha 👀

17/ @lyrafinance $OP Governance Fund proposal will distribute 1mln $OP to projects built on-top of their protocol. A very interesting product here is @PolynomialFi by the serial 👷‍♂️ Builders @gauthamzzz & @0xmubaris

18/ @PolynomialFi offers long term sustainable 🤯 automated strategies - currently Eth Covered Call / Put Selling options vaults, netting up to 8% APY (more to come soon), on top of that you might get $OP incentives (not officially confirmed yet 🤫) and lastly - no token yet 👀

19/ Polynomial vaults are capped at 450 ETH + $1,5mln. Compare this to the $OP allocation they're to get:
1) 900k $OP directly from OP
2) x% of 1mln $OP from Lyra (this will be split with only @BrahmaFi).
Polynomial $OP incentives are set to present asymmetric risk/reward 🤫

20/ As if this wasn't enough yet, in their latest AMA the giga🧠 at @PolynomialFi presented their (experimental) market neutral automated yield strategy - only remaining question: are you on the WL anon? Comment below if you want to find out more about how to WL 🚀 

21/ Get started with this great user walk through guide 
from @cryptotesters @kubesqrt & @fommes1

https://cryptotesters.com/blog/polynomial

22/ There is also a useful TL;DR from @litocoen, who'll have you covered with a video walkthrough:
https://twitter.com/cryptotesters/status/1509820584972238882?s=20&t=vh-4vJKCjtb_84EaiD0iaw

23/ Another promising OP app, @Zip_swap is the native AMM -Dex that has some interesting farming opportunities for LPs to earn their native Token and hopefully some $OP incentives on top of that soon  🍌🍌. Uniswap might be too crowded for $OP farming 🤨
https://zipswap.fi/#/farm

24/ @PikaProtocol is the native perp for the Degens out there who want to trade with up to 50x leverage. 
Pika's vault is a more conservative strategy and offers high (but still risky) USDC APY's by taking on the opposite position of all perp traders.   https://twitter.com/PikaProtocol/status/1519305922517946368?s=20&t=W0kHCYXeUwT-wYIH4MUb5A

25/ Bonus: @0xPegasusFi is an @OptimismPBC native interest rate perp 🤯 (currently @AaveAave USDC and @opyn_ 's Sqeeth funding rate)

No airdrop and no $OP incentives as of now, but if you're still curious to try it out, @drismegistus made a great guide: https://twitter.com/drismegistus/status/1518062413496606720?s=20&t=UAYwsbPGmWjY1PqjoHc9ng

26/ P.s. this is a play on OP’s Token House. But what about the Citizens' House 🏛 and those soulbound NFTs mentioned in their Governance documents? What is it and why would you want to get one? We’ll look into this in one of our next alpha threads 🕵️‍♀️🔬—> Sub for takes on alpha