Hal Notify Integration Grant Proposal

=== Project ===

- What is the work being proposed?

This is a proposal to improve Rocket Pool UX by providing an omni-channel notification tool which community members can use to receive emails or messages to their personal accounts, triggered by RocketPool related on-chain events. The notification tool is called Hal; it is a very popular DeFi notification plugin that you may have used on platforms like Aave, Snapshot, Bancor, or SSV.Network.

  • Is there any related work this builds off of?

The Rocket Watch Discord Bot has been a popular addition to the Roce user experience by providing granular insight into the protocol itself, specifically for node operators.

This proposal takes Rocket Pool Notification Automation and puts it directly in the hands of users, allowing us to get important updates wherever the user needs it.

Right now, existing Rocket Pool Discord bots do a good job of serving community members who are actively monitoring for data. An integration with Hal makes it so that community members can automatically get alerted on the channel of their choosing when a relevant trigger occurs (eg., there is an arbitrage opportunity on rETH, upgrades have been implemented into the protocol and need to be communicated to the protocol in a credibly neutral way, even if the team/socials of RocketPool are compromised).

=== Benefits === - enter N/A where appropriate

The benefits will be focused on 3 aspects:

  • Regarding rETH and its price relative to ETH: our system will allow users to be notified when rETH is trading below a certain threshold (or inversely above a certain threshold in case of a premium) allowing users to interact with rETH in the most efficient way (eg: staking ETH for rETH vs buying rETH)

  • From a governance perspective: Hal’s system can be used in your snapshot system to allow users to receive a custom message when they need to vote in the DAO.

  • From a resilience point of view: Hal’s independent platform will let users know about any on-chain action that would change parameters of the protocol. Hal would monitor the chain directly, so those notifications would trigger even if the centralized parts of the RocketPool ecosystem (socials, team, website…) were to become compromised.
    In the end, we would be responsible to the DAO and only the DAO.

  • How does this help people looking to stake ETH for rETH?

  1. Can get price discounts on rETH.
  2. It’s a better UX because if you’re interested in arbing for rETH or want to know when to buy vs stake rETH you can get the relevant price alert when the opportunity is meaningful, which gives additional support to the successful Arb bot in Discord that requires a direct query.
  • How does this help rETH holders?

  1. Providing rETH holders with a tool to increase the efficiency of arbitrage creates stronger long-term price stability for rETH, which is at the core of its utility.

  2. With every change to the RocketPool parameters being delivered with Hal’s DAO notification tooling, rETH holders gain more confidence in RocketPool’s integrity.

  • How does this help people looking to run a Rocket Pool node for the first time?

  1. If RocketPool increases rewards for time node operators (or the rewards hit x threshold), people interested in running a Rocket Pool node can take advantage of an incentivized opportunity. More people will pay attention while considering running a node.
  2. Showcasing strong notification infrastructure for parameter updates to prospective node operators is a unique value proposition in the world of ETH LSDs.
  • How does this help people already running a Rocket Pool node?

  1. They could run a second minipool one and take advantage of arb profits.
  2. rETH price will be more stable due to community arbing (or buying cheap rETH).
  3. Any parameter change that would affect the node operators (fee change, RPL reward change etc…) will be sent to the whole community and the Node Operators, critical actors of that infrastructure, can be certain that they won’t miss any critical protocol change.
  • How does this help the Rocket Pool community?

  • price stability
  • UX improvement
  • ability to request other notification features
  • arbing opportunities
  • contract upgrades / parameters change monitoring
  • visibility into DAO proposal flow
  • additional redundancy in the case of centralized failures
  • empowers the set it and forget it behavioral cycle

=== Team ===

  • Who is doing the work?

The engineering team at Hal will do the back-end work of setting up a custom Rocket Pool notification template. They can also do any front-end web integration work, or that can be done by Rocket Pool engineers.

  • What is the background of the person(s) doing the work? What experience do they have with such projects in the past?

The Hal team are industry leaders in developing automated notifications for Web3 protocols and communities. We have launched similar integrations for over 40 other dapps including Bancor, Uniswap, SSV.Network, and Snapshot.

  • What is the breakdown of the proposed work, in terms of milestones and/or deadlines?
  1. Agree upon a scope of work specifically in terms of which blockchain activity the Rocket Pool community wants notifications (2 weeks)
  2. Hal team develops the Notification Recipe backend (3 weeks)
  3. Hal team or Rocket Pool develops front end integration for users (1 week)
  4. Push to Production
  • How is the work being tested? Is testing included in the schedule?

Hal owns responsibility when it comes to testing and the notification app offers testing services based on historical blocks and transactions. Q&A is included in the schedule.

  • How will the work be maintained after delivery?

HAL will maintain the service for as long as Rocket Pool and HAL have an agreement. The proposed grant payment schedule ensures at least 1 year of continuous maintenance, subsequent to delivery of notification tooling.

=== Payment and Verification ===

  • What is the acceptance criteria?

The delivery of the agreed upon notification system, with the correct triggers and the continued maintenance of the service

  • Provide all Rocket Pool users with automatic notification infrastructure across Email, Telegram, Discord, Twitter, Slack, Webhooks for any triggers agreed upon between the DAO and Hal.

  • Hal’s proposed triggers include: arbitrage opportunities, Snapshot governance activity, on-chain DAO execution.

  • Other triggers can be proposed for inclusion by Rocket Pool community.

  • What is the proposed payment schedule for the grant? How much RPL and over what period of time is the applicant requesting?

The main expense to develop this custom notification implementation is up-front, so we propose a weighted payment schedule that covers initial engineering hours and incentivizes quality maintenance.

Total RPL Requested: 1500 (Medium Grant)
Period of Time: Time to Ship + 1 Year of Maintenance
Payment Schedule:

Schedule Item Percent of Total Grant RPL Released
Integration Launched 30% 450
Inflation Period 1 5.83% 87.45
Inflation Period 2 5.83% 87.45
Inflation Period 3 5.83% 87.45
Inflation Period 4 5.83% 87.45
Inflation Period 5 5.83% 87.45
Inflation Period 6 5.83% 87.45
Inflation Period 7 5.83% 87.45
Inflation Period 8 5.83% 87.45
Inflation Period 9 5.83% 87.45
Inflation Period 10 5.83% 87.45
Inflation Period 11 5.83% 87.45
Inflation Period 12 5.83% 87.45

We are proposing a 1-year timeline for maintenance because

  1. It makes the forecasted burden on Treasury easier to predict.

  2. After one year, we will re-propose continued Notifications support which is an opportunity for RocketPool community to re-confirm the value of this UX feature, propose other notification triggers, or reject the continued utility if it hasn’t shown enough value.

How will the GMC verify that the work’s deliveries match the proposed cadence?

GMC will have a direct contact to our team including Chief of Growth, Technical Business Analyst, and our Engineers. Release of any grant funds should occur after delivery of code and maintenance over inflation periods, so it will be very easy to make sure the work is delivered. We have an excellent track record of delivery and can point to many successes with other dapps :).

=== Conflict of Interest ===

  • Does the person or persons proposing the grant have any conflicts of interest to disclose?

This proposal is written by Hal.xyz Chief Growth Officer, Christopher Kocurek. My role is to create partnership integrations with leading dApps, so naturally Rocket Pool is at the top of our list for new partners. We have no extraneous conflicts of interest as we are a platform, dapp, and chain agnostic service.

  • Will the recipient of the grant, or any protocol or project in which the recipient has a vested interest (other than Rocket Pool), benefit financially if the grant is successful?

Funding received from this grant (should it pass) will be used to pay for engineering operations required to develop the integration between Rocket Pool and Hal. The author of this grant receives no financial incentive if it passes. I am strictly doing my job by trying to improve a leading Web3 Dapp community UX.


Thank you for your time and consideration. For more information on this tool:
Twitter: @hal_team

You can also find us integrated on Aave, Bancor, Snapshot, SSV.Network front-ends.

Signalling Poll: Do you support the execution of this grant proposal?

  • Yes
  • No
  • Request a change based on community input

0 voters

Some nomenclature:

  • RPL is the governance token, RP is the overall protocol; you’ve used the former a few places you’ve meant the latter
  • Arbitrage doesn’t require creating/exiting a node, it requires creating/exiting a minipool based on an existing premium/discount
  • You’re using arbitrage to mean two different things, and it’s confusing:
    • When creating/exiting a minipool with an ongoing premium/discount, there’s a true arbitrage opportunity where you buy a thing cheaper than you sell it for instant profit.

    • Buying rETH at a discount or selling it at a premium is not really arbitrage as the buy and sell don’t happen at/near the same time.

TY Valdorff, made some edits based on your response.

Regarding the last point, it should become valid when withdrawals are enabled given a short enough queue :slight_smile:

No… that’s not right. If there’s an advantage that can be arbed like that, it will be arbed by bots in the same block that the advantage presents. There are already bots doing this.

The only way to have an arb that a human can get (and thus where an alert helps) is by using {bundles}:

  • With a premium: {create a minipool + mint rETH in the newly created space} + sell rETH
  • With a discount: Buy rETH, exit a minipool, wait until exit queue cleared. {Finish the exit + burn rETH for the newly available ETH}
  • With a discount option 2: Exit a minipool, wait until exit queue cleared. Buy rETH + {Finish the exit + burn rETH for the newly available ETH}

Hi @captnamazing. I haven’t read the proposal yet, but I wanted to let you know that the official submission period for grants hasn’t opened yet. It can still be useful to post this to get feedback from folks (as @Valdorff) is providing, but you’ll want to check back in late December/early january for the official call for applications and the instructions on where to submit them. Thanks so much for your interest in helping further Rocket Pool!

I know we aren’t doing this yet, but it’s been kinda dead around here so will add my two cents.

  1. the benefits over existing notification systems (beaconcha.in, discord, rocketscan) aren’t readily apparent to me; we have a small and active community so we tend to be quite involved already; except for one pesky underperforming whale, things have gone fairly smoothly.
  2. the ongoing costs concern me; definitely one time set-up fee with product transferred to rocketpool community is likely more in keeping with the ethos and cost effectiveness at the 2/5/10 year timeframe.
  3. it seems likely the entirety of the RPL will be sold for stables/fiat to pay salaries of people whose positions already exist. If this is not true, maybe you can break down what the award is being spent on.
    Overall, to me, it seems like the main beneficiary is hal.xyz rather than rocket pool. However, obviously will re-evaluate when the time for grant proposals comes. Thank you!

Thank you so much for the clarification on your timelines! I’ll keep my eye out and repost in January. Really appreciate the info and also open feedback from the community :grinning:

And thanks Epineph for your notes, those are really helpful. We are excited to see the community here have open communication and I’ll be keeping everyone’s thoughts in mind when we circle back during the official grant period.

Edit: All community input here will make a significant impact on re-submission of this application, so please keep it up if you are interested.