AlphaGrowth Proposal to GMC
Name of Grant
Rocket Pool Growth Program
What is the work being proposed?
Rocket Pool currently has scalability and growth challenges in scaling rETH. AlphaGrowth proposes a 3-month trial of a Rocket Pool Growth Program aimed at accelerating the adoption and awareness of Rocket Pool and rETH by onboarding new NO’s
Drawing from our previous experience of Business Development with validators, we’ve identified over 183 potential validator targets. Our approach will effectively communicate the value proposition of becoming a Rocket Pool NO, leading to significant protocol growth.
The program will focus on two key areas:
- Business Development: Targeting and engaging potential NOs to expand Rocket Pool’s network.
- Integrations: Collaborating with exchanges, wallets, chains, protocols, dApps, mobile apps, and institutions to broaden Rocket Pool’s reach and utility.
This trial will help determine the effectiveness of a dedicated growth program for the protocol, exploring various strategies to expand Rocket Pool’s reach and adoption. By the end of the trial, we aim to establish sustainable growth strategies that will propel Rocket Pool forward in the competitive staking landscape.
Is there any related work this builds off of?
This proposal builds upon AlphaGrowth’s proven expertise in driving ecosystem growth. Our team has successfully onboarded over 90 projects to the Kava ecosystem and contributed to a $300M increase in TVL for Compound Finance within the last quarter. We aim to apply these strategies to address the current slowdown in Rocket Pool’s Node Operator growth and rETH scalability. Our recent achievements are detailed in our latest quarterly report with Compound Protocol, which you can access here.
Will the results of this project be entirely open source?
The outcomes of this growth program will be fully transparent and accessible to the Rocket Pool community. All relevant information, including strategic insights, partnership details, and CRM analytical data, will be shared openly through the Discord server and governance forum. The project aims to enhance Rocket Pool’s outbound partnerships, complementing the protocol’s existing inbound collaborations. The results will be strategic and relational rather than code-based
Benefits
| Group | Benefits |
|---|---|
| Potential rETH holders | Our Growth Program will directly contribute to scaling rETH. As rETH scales, it becomes more attractive for potential partnerships, creating a positive feedback loop that benefits all rETH holders. |
| rETH Holders | Successful completion of this grant will boost rETH liquidity and adoption, directly enhancing its utility and value for ETH stakers. This increased accessibility and demand for rETH will benefit existing holders by potentially improving market depth and stability |
| Potential NO | The Growth Program aims to expand the Rocket Pool network by attracting new NO’s, directly supporting Rocket Pool’s mission to enhance Ethereum’s decentralization. For first-time Node Operators, this program will provide valuable resources and incentives, making it easier and more appealing to join the network and contribute to its growth. |
| NO’s | Successful completion of this grant will indirectly benefit existing Rocket Pool node operators by addressing the rETH scalability issue and increasing demand for rETH. By onboarding more node operators and integrating rETH into structured products, we aim to create a more robust and liquid ecosystem, which in turn enhances the overall value proposition for all participants in the Rocket Pool network |
| Community | The Growth Program will significantly enhance Rocket Pool’s visibility, attracting new participants and fostering a more vibrant ecosystem. This increased engagement will strengthen the community, driving innovation and long-term sustainability for the protocol. |
| RPL Holders | Successful completion of this grant will enhance community engagement in the Rocket Pool ecosystem, potentially increasing RPL adoption and contributing to Ethereum’s decentralization efforts. As more community members become active participants, it’s likely to drive demand for RPL and strengthen the protocol’s position in the broader Ethereum landscape. |
Which other non-RPL protocols, DAOs, projects, or individuals, would stand to benefit from this grant?
The benefits of this grant extend far beyond Rocket Pool, positively impacting the entire Ethereum ecosystem. By making ETH staking more accessible and decentralized, we’ll create value for:
- Exchanges, wallets, and mobile apps: Integration of Rocket Pool will allow these platforms to offer easy staking options to their users, enhancing their product offerings.
- Institutional investors: As the demand for yield-bearing ETH ETP’s grows, Rocket Pool can position itself as the premier solution for institutions looking to stake idle ETH.
- The broader Ethereum community: Increased participation in staking through Rocket Pool will strengthen Ethereum’s security and decentralization, benefiting all projects and DAOs built on the network.
- Individual ETH holders: By simplifying the staking process through mobile wallet integration we’ll empower more individuals to participate in network security and earn rewards on their idle ETH.
This grant will catalyze Rocket Pool’s growth, reinforcing its role as a cornerstone of Ethereum’s staking infrastructure and fostering a more robust, decentralized ecosystem for all.
Work
Who is doing the work?
AlphaGrowth is a team of crypto professionals with a proven track record in protocol and ecosystem growth. AlphaGrowth will be a dedicated team that will work as Business Developers for the Rocket Pool protocol. This will also help decentralize the Rocket Pool protocol by spreading the workload.
What is the background of the person(s) doing the work? What experience do they have with such projects in the past?
Operating since 2018 AlphaGrowth has half a decade experience in DeFi crypto business development. We’ve successfully driven expansion for projects like Kava, Sommelier Finance, and now Compound Finance.
| Person(s) | Position | Background |
|---|---|---|
| Bryan Colligan | Founder, Alphagrowth | Over 10 years in the crypto industry, previously provided millions of leads and prospects to Silicon Valley saas startups and a 4 year tour of duty in investment banking Bryan has the background to lead the strategy of this task. |
| Joe Bjornsen | Co-founder, AlphaGrowth | Crypto native Business Development and DeFi Operations strategist with a focus on driving growth through innovative liquidity solutions and strategic partnerships. Creating value through token utility, scaling governance, and fostering relationships within DAOs. |
| Jonthony Aybar | Partnerships & Defi Lead | Dedicated advocate for decentralization, actively participating in various blockchain projects within the Ethereum ecosystem. My experience in collaborative development and community-driven initiatives fuels my commitment to contributing to its growth and sustainability. |
| Ross Gates | Operations Lead | Head of Operations Compound Protocol, previously head of Growth for NEAR protocol |
| Patrick Hugins | Strategic Initiatives lead | Patrick brings 14 years experience as a startup operator and executive. He is the founder of Delegate.team. |
| Jose Alfonso Manrique | APAC Defi Lead | 10 years BD experience in Web2 CRM & loyalty programs leading teams and closing 1,000+ brick and mortar retailers & FMCGs resulting in 2M+ user base. Strong BD relationships with dozens of protocols, chains, and market-makers in the EVM landscape. |
| Shardul Pilley | Compound Growth Program Manager | Grants and Operations Guru, Shardul knows how to navigate ecosystems, forums and communities to accomplish whatever challenge is needed. |
What is the breakdown of the proposed work, in terms of milestones and/or deadlines?
Prospect Development
- Generate pipeline list on potential partners and integrations
- Arrange strategic meetings with key stakeholders, i.e. Kraken wallet, Robinhood
Marketing and Partnerships
- Collaborate with Maverick on targeted marketing events
- Explore and facilitate restaking integrations for rETH with platforms like Mellow Finance and Karak
DeFi Ecosystem Expansion
- Deliver comprehensive rETH ecosystem analysis
- Identify and pursue high-impact DeFi protocol integrations as referenced above
TVL Growth Strategy
- Develop and test strategies to increase rETH deposits
- Implement initiatives to boost overall TVL
Institutional Outreach
-
Engage with large capital holders to understand their ETH LST requirements
-
Propose actionable steps to the Rocket Pool community for attracting institutional investors
-
Each milestone will be accompanied by detailed progress reports and measurable outcomes to ensure transparency and accountability throughout the grant period.
-
Institutional Capital: Work with large capital holders to identify their requirements in an ETH LST. Suggest actionable items to Rocket Pool community on helping migrate these large capital holders from competitors to Rocket Pool
How is the work being tested? Is testing included in the schedule?
The program’s effectiveness will be evaluated through regular updates to the GMC and Rocket Pool community. AlphaGrowth will provide CRM analysis on outreach, meetings, and partnerships. We’ll track key metrics including:
- Number of active Node Operators
- rETH Total Value Locked (TVL)
- RPL distribution in newly active wallets
These quantifiable indicators will demonstrate the program’s impact on Rocket Pool’s growth and adoption. Our team will conduct monthly ongoing testing and refinement of outreach strategies based on these metrics, ensuring the program’s continued success and alignment with Rocket Pool’s goals.
How will the work be maintained after delivery?
Following successful implementation and community endorsement, we plan to propose a one-year extension to the pDAO for review and approval. This approach ensures ongoing support and development of the project, aligning with Rocket Pool’s long-term goals.
Costs
What is the acceptance criteria?
AlphaGrowth will receive monthly payments starting on its operational launch date. Subsequent disbursements will follow on the first of each month thereafter.
What is the proposed payment schedule for the grant? How much USD $ and over what period of time is the applicant requesting?
The project requests a total of $80,000 USD, to be disbursed in three equal installments over a 3-month period.
Is the applicant requesting RPL or LUSD?
AlphaGrowth is committed to Rocket Pool’s success and aims to demonstrate our dedication by requesting an equal split of RPL and LUSD for the grant payment. This approach aligns our interests with the protocol’s growth while ensuring operational flexibility.
How will the GMC verify that the work delivered matches the proposed cadence?
The GMC and Rocket Pool community can track progress through multiple channels:
- Bi-weekly community calls on Discord
- Regular CRM analysis data updates
- Comprehensive quarterly reports
This approach ensures transparency and allows for continuous assessment of project milestones. We welcome feedback and are committed to open communication throughout the grant period.
What alternatives or options have been considered in order to save costs for the proposed project?
To address Rocket Pool’s current growth plateau, we’ve identified two key areas for improvement: business development execution and node operator acquisition. Our proposal aims to revitalize growth by implementing industry-leading DeFi operations and enhancing our business development strategies. This approach will not only address the immediate need for more node operators but also set the foundation for sustainable long-term expansion.
Conflict of Interest
Does the person or persons proposing the grant have any conflicts of interest to disclose?
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?
No