Project
What is the work being proposed?
Analysis of oDAO duties and alternative solutions
I will produce a paper that identifies each oDAO duty and why it is currently needed. I will explore what it would take to replace these duties. Some alternatives may rely on Ethereum protocol changes. In some cases wide ranging changes to Rocket Pool might be necessary. I will identify areas that need further research and development (which could serve as inspiration for future bounties) and formulate clear asks for the Ethereum core devs.
Stretch goal: Actionable designs or implementations
Is there any related work this builds off of?
I’m not aware of any work specifically looking into this. Some proposed designs for individual oDAO duties might build off of existing solutions and are going to be cited as such.
Will the results of this project be entirely open source (MIT, GPL, Apache, CC BY license or similar)? If not, which parts will not be, why, and under what license will they be published?
Yes.
Benefits
This applies to potential and existing rETH stakers and node operators: The oDAO as a trusted actor is the least desirable aspect of the protocol and removing the oDAO or reducing their duties is a stated long-term goal of the project. Working towards that goal might attract new protocol users currently turned off by this trusted aspect or increase the confidence of existing users in the protocol.
How does this help RPL holders?
RPL holders would benefit from increased adoption as detailed above. In addition, oDAO rewards make up 15% of the protocol’s inflationary spending. If that spending can be reduced, it could allow for lower token inflation and benefit every RPL holder.
What other non-RPL protocols, DAOs, projects, or individuals, would stand to benefit from this grant?
N/A
Will the resulting project be open source?
Yes.
Team
Who is doing the work?
knoshua
What is the background of the person(s) doing the work? What experience do they have with such projects in the past?
I have an academic background in Mathematics and Economics covering a wide range of topics, including Game Theory, Mechanism Design, Number Theory and Abstract Algebra. I specialized in Probability Theory, Statistics and Finance.
I have taught myself Solidity and have developed a very good understanding of the rocket pool smart contracts.
Some of my past contributions to rocket pool include:
- Design for rETH lock removal (included in Redstone)
- I added some ideas to the Smoothing Pool Design
- Atlas Research
- Small improvements and bug fixes to Atlas smart contracts ([1] and [2])
What is the breakdown of the proposed work, in terms of milestones and/or deadlines?
Total duration of this project will be 12 weeks (20 hours/week). A final paper will be published at the end. After 4 weeks and 8 weeks, a WIP version of that paper will be released.
How is the work being tested? Is testing included in the schedule?
N/A
How will the work be maintained after delivery?
N/A
Payment and Verification
What is the acceptance criteria?
Delivery of the report after 4, 8 and 12 weeks.
What is the proposed payment schedule for the grant? How much RPL and over what period of time is the applicant requesting?
400 RPL per reward period (5 RPL per hour) over three periods.
How will the GMC verify that the work’s deliveries match the proposed cadence?
Reports will be public.
What alternatives or options have been considered in order to save costs for the proposed project?
None. I’m already very familiar with the code base and the oDAO duties and have thought about alternatives before. This will give me a head start compared to third parties, making this proposal very competitive.
Conflict of Interest
Does the person or persons proposing the grant have any conflicts of interest to disclose? (Please disclose here if you are a member of the GMC or if any member of the GMC would benefit directly financially from the grant).
No.
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?
Not beyond the grant payment itself.