| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-53 | OP token allocation towards Gamified Staking | Implemented | padzank (@padzank) | Detailed plan around allocating 135,000 OP tokens from Thales Phase 0 distribution towards Protocol volume of Gamified Staking | https://discord.gg/rPpPcMXSeU | 2022-05-26 |
This TIP proposes a plan on how to execute the allocation of 135,000 OP tokens (out of total 495,000 OP tokens for Protocol Usage incentives) that are to be available to THALES Stakers that use and drive volume on the Thales marketplace and other Thales products.
Existence of Gamified Staking infrastructure for THALES token staking provided a perfect opportunity to award active stakers with additional OP token rewards and thus incentivize THALES staking and Protocol Usage in one go. If you are a THALES staker and are using the Thales products at the same time, you will be eligible for OP token rewards.
This TIP proposes to distribute this allocation during the minimum period of 10 weeks, which would amount to maximum emissions of 13,500 OP tokens weekly. This amount of weekly emissions mean that for each 1 THALES claimed from Protocol volume Gamified Staking bonus, a THALES staker would also claim 0.64 of OP token. All unclaimed weekly OP tokens for this allocation are added toward extending this Gamified Staking Protocol Usage allocation until all 135,000 OP tokens are claimed.
When Optimism Phase 0 OP token distribution was announced, it was also announced that Thales was eligible for 900,000 OP tokens for this phase. To have the ability to claim these tokens, Thales had to write an official proposal on Optimism Governance forum around how these tokens are to be distributed to the community with guidance from the Optimism team. The goal of Optimism with these project allocations is to incentivize network usage and an increase in network-wide liquidity. For these reasons Thales was advised not to directly incentivize passive THALES stakers but to focus solely on increasing active network usage and liquidity build-up.
The existence of Gamified Staking rewards provided a perfect middle ground for Thales not to abandon THALES stakers from the opportunity to be able to claim the "largest piece of the pie". Allocating part of the Protocol Usage OP token incentives towards Gamified Staking bonus creates a perfect middle ground between fairly awarding THALES stakers and incentivizing Thales Protocol Usage and thus the Optimism network itself.
The total amount of Protocol Usage allocation is 495,000 OP tokens out of which 135,000 will be used for this proposed Gamified Staking distribution, and the rest (360,000 OP tokens) will be distributed via trading competition prizes and direct trading incentives. What this entails is that, if you are a THALES staker, you get OP tokens from Gamified Staking distribution in addition with direct trading incentives and this way you are able to accrue a lot more OP tokens compared to traders that are not staking THALES.
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This TIP entails the Thales Protocol DAO to facilitate the inclusion of OP token to Protocol volume part of Gamified Staking rewards with 13,500 OP tokens per week included in the weekly claims of Gamified Staking rewards.
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This TIP additionally entails Thales Treasury DAO to allocate 135,000 OP tokens as rewards for this allocation.
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