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:
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:
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 🕵️♀️🔎