Round 19 - GMC Call for Bounty Applications - Deadline is December 7

Grants / Bounties
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This thread is for applications for Rocket Pool’s November 7, 2024 - December 7, 2024 bounties. Please only post grant applications in this thread. If you would like to discuss and/or ask questions about any applications you see in this thread, we ask that you do so in this separate forum thread which has been established for all community discussions related to this round of applications. Only those bounty applications that are posted in this thread and timestamped by December 7, 2024 at 23:59 (11:59 PM) UTC will be considered. Any bounties posted after that deadline will be carried over to the next award period.

This is the expected schedule for round 19:

  • Application Period (November 7 - December 7)
  • Negotiation Period (December 8 - December 23)
  • Scoring Deadline (December 24)
  • Final Voting Amendments, Discussion and Finalization (December 25 - December 28)
  • Award Announcement (December 29)
Differences Between Grants and Bounties Grants are intended to be applied for by those who are wishing to carry out the work themselves. Bounties are open-ended goals that could be met by anyone, including those other than the proposing party. In other words, if I believed that Rocket Pool needed a fifty-foot paper mache orange rocket for publicity purposes and I wanted to be the one to built it, I would apply for a grant. If I instead thought Rocket Pool needed a fifty-foot paper mache orange rocket for publicity purposes but I wanted it to be open to whoever built it first to claim the reward (similar to a prize), then I’d apply for a bounty.

To guide you in your application, the GMC has established the following goals and the following scoring rubric:

GMC Goals

Grants, bounties, and retrospective awards should make it easier and/or more attractive to do one or more of the following:

  • become a node operator

  • operate a node, mint rETH

  • hold or use rETH

  • improve the quality of life for the protocol and its community.

Bounties Rubric

When evaluating grant applications, the GMC takes into account the following goals:

  • If the bounty is completed successfully, to what extent does it further the GMC goals?

  • To what extent is it likely that the bounty can be feasibly claimed/completed successfully?

  • If the bounty is successfully completed, how large is the benefit to the protocol relative to the size of the proposed costs?

Bounty Proposal Template

Guidelines

  • The goals of the Bounty Proposal are:
    • to communicate your bounty idea clearly, in general terms, such that the GMC can decide if it’s worth pursuing.
    • to estimate the benefits and costs attached to your proposal.
    • to disclose any relevant conflicts of interest.
  • Answers to the template questions do not need to be highly detailed. Estimates or ranges are acceptable. Brief answers are also fine.

Template

# Bounty Name

## General Information

### What is the nature of the proposed bounty?

### Why are you writing this bounty proposal?


## Benefit

<please enter N/A where appropriate>

| Group | Benefits |
|---|---|
| Potential rETH holders | If the bounty is successfully completed, how does this help people looking to stake ETH for rETH? |
| rETH holders | If the bounty is successfully completed, how does this help rETH holders? |
| Potential NOs |  If the bounty is successfully completed, how does this help people looking to run a Rocket Pool node for the first time? |
| NOs | If the bounty is successfully completed, how does this help people already running a Rocket Pool node? |
| Community |  If the bounty is successfully completed, how does this help the Rocket Pool community? |
| RPL holders |  If the bounty is successfully completed, how does this help RPL holders? |

### Which other non-RPL protocols, DAOs, projects, or individuals would stand to benefit from the bounty being successfully completed?



## Work

### What steps would be entailed in completing the bounty? Do successful examples of such work exist elsewhere? What skillsets or knowledge will be required?

### What advice would you give a bounty hunter working on this bounty?

### Should the output of this bounty be available under an open source license?



## Costs

### How much do you think the completion of this bounty worth to Rocket Pool (in USD)?

### How much work will be needed to verify this bounty has been completed? What skillsets or knowledge will be required?


## Structure

### How would you structure this bounty, and why? 
* A single payout to single team on completion? 
* Divided into milestones? 
* Multiple payouts to multiple teams? 
* Should this be written up as multiple bounty definitions?
* Something else?

### Is this bounty repeatable?

### Are there any reasonable circumstances under which this bounty should be withdrawn? Should it expire?


## Conflicts of Interest

### Does the person or persons proposing the bounty 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 successful completion of the bounty).

### Will the applicant, or any protocol or project in which the applicant has a vested interest (other than Rocket Pool), benefit financially if the bounty is successfully completed?

Bounty Definition Template

Guidelines

  • When a single proposal bounty proposal has parts that must be completed by different groups, it should become multiple definitions.
  • Where reasonably possible, bountiy definitions should limit the number of distinct skillsets required for completion of the bounty.
  • Bounties should be defined in terms of the smallest worthwhile unit of work. IE: $25 to add/update a single relevant FAQ question rather than $5,000 to update the FAQ.
  • Include any information or resources that might reasonably help a bounty hunter complete the bounty.
  • Think carefully about which tasks are required, and which can be optional.
  • Clearly list any dependencies, if the bounty cannot be completed in all circumstances.
  • Only include multiple milestones for large bounties with natural points of division.

Template

# Bounty Name 

## Data
* Repeatable?
* Expiring?
* Skillsets for completion? (See existing bounties and reuse where possible, new skillsets are recommended if sufficiently distinct)
* Relevant tags? (See existing bounties and reuse where possible, new tags are recommended if sufficiently distinct)
* Min reward (USD)?
* Max reward (USD)?
* Any linked definitions? (e.g. if a single bounty proposal becomes multiple definitions.)
* Any dependencies? 

## Summary 
Short 1-3 sentences describing the bounty.

## Dependencies
Is there anything that must happen (outside of a bounty hunter's control) before it is possible to complete this bounty? This may be other bounties that must be completed first, an upcoming event or change or a regular occurance that triggers a valid bounty. This section is optional. May be later removed from the definition if the dependency becomes permanently met. 

## Required Milestones
What _must_ be completed for a bounty hunter to claim some amount of bounty. Described per milestone.

### Milestone A - <Name of Milestone>
**Payout: ** <payout amount>
Clear bulleted list or subheadings covering the items that must be completed and/or adhered to for this milestone to be valid.

### Milestone B - <Name of Milestone>
**Payout: ** <payout amount>
Clear bulleted list or subheadings covering the items that must be completed and/or adhered to for this milestone to be valid.

### Milestone C - <Name of Milestone>...

## Optional Milestones
What tasks _may_ be completed for a bounty hunter to earn extra bounty rewards. Described per milestone. This section is optional.

Optional milestones may be less strictly defined than required milestones. You may aggregate multiple minor considerations that would contribute to a payout. 

### Milestone D - <Name of Milestone>
**Maximum Payout: ** <maximum payout amount>
Clear bulleted list of the items that would contribute to payout for this milestone.

### Milestone E - <Name of Milestone>...


## Further Notes
Anything you think that would be beneficial for a bounty hunter to know when working on this bounty. Maybe be divided into subsections as needed.

## Resources
Links to repositories, web pages, forum discussions, etc. Anything that the bounty hunter may be able to use to do a better job on the bounty work. 

## Contacts
Individuals that have agreed to act as contacts for this bounty. Include usernames + contact details for any platform on which the contact is willing to respond to requests. Any contacts are expected to fully understand the bounty definition. This section is optional. 

Contacts:
* MAY be eligible for incentives.
* SHOULD NOT assist the bounty hunter directly with the bounty work.
* SHOULD assist bounty hunters via feedback, direction and oversight upon request.

## Verification
Who is expected to verify that the work delivered meets the relevant milestones? This person or group must have agreed to do this in advance of this definition being published. This person or group should have any relevant skillsets needed to properly verify the bounty work.
2

RocketArb for closes

General Information

What is the nature of the proposed bounty?

This is meant to replace the functionality in BA022310, which I’d suggest expiring.

There appear to be two challenges in the way of completion for that bounty. The first is the incentives are not so great. When it was created, the incentives were a bit under $5k. Now it’s a bit over $1k. The second is the requirement to have it be a smartnode add-on. @ramana is a very likely contributor, eg, but they are not terribly familiar with the smartnode, so this is an added burden there.

This bounty will cover a tool that can do 2 things:

  • Given rETH and an exited minipool: bundle a distribute and a rETH burn to get the full protocol price for the rETH for at least the ETH distributed from the minipool exit
  • Given an exited minipool: bundle a flashloan for rETH, a distribute, a rETH burn to get the full protocol price for the rETH, and using the ETH to pay back the rETH with some profit ETH remaining if there’s a discount

There should ideally also be a small amount of guidance:

  • Explaining the 2 forms of closing arb (lock the profit in by prebuying rETH, or avoid the need for capital but take on a risk that the discount closes during the exit time period)
  • Stretch: Show how long exit time would be for a users validator

I considered making a second bounty for a smartnode add-on. I will probably do so once the functionality exists for both exit and deposit, at which point that can be purely an integration bounty.

Why are you writing this bounty proposal?

In addition to “it hasn’t gotten done and would be nice to have”, we are currently seeing an active need for such a tool to make things easier for folks. Right now only superusers really have the know-how to bundle with FB or by using a Safe.

Benefit

Group Benefits
Potential rETH holders More robust peg vs discount
rETH holders More robust peg vs discount
Potential NOs Potential for revenue in a specific scenario
NOs Potential for revenue in a specific scenario
Community A stronger peg makes a stronger product that we can be proud of and market better
RPL holders A stronger peg makes TVL easier to acquire, which helps RPL value

Which other non-RPL protocols, DAOs, projects, or individuals would stand to benefit from the bounty being successfully completed?

None

Work

What steps would be entailed in completing the bounty? Do successful examples of such work exist elsewhere? What skillsets or knowledge will be required?

I think this would need a small contract to help bundle the actions? Similar work has been done for rocketarb for new minipool deposits.

Worth noting – if the same results can be achieved some other way (eg using an existing multicall contract rather than a custom contract), that should qualify for the payout. If the result damages usability (eg, only applies to people with a Safe withdrawal address), then it should not qualify for this payout.

What advice would you give a bounty hunter working on this bounty?

Should the output of this bounty be available under an open source license?

Yes

Costs

How much do you think the completion of this bounty worth to Rocket Pool (in USD)?

Probably quite a lot. $10k is my initial thought. I might suggest having it as something like $9k for the functionality and basic UX and $1k bonus for going above and beyond (eg: guidance on what validators to exit, really friendly UX, that sorta thing).

How much work will be needed to verify this bounty has been completed? What skillsets or knowledge will be required?

If the contract is open source and there is a real run that has occurred, it should be pretty straightforward.

Structure

How would you structure this bounty, and why?

A single payout to single team on completion?

Is this bounty repeatable?

No.

Are there any reasonable circumstances under which this bounty should be withdrawn? Should it expire?

I think it should expire after ~3 months. If it’s not getting done, we need to revisit why.

Conflicts of Interest

Does the person or persons proposing the bounty 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 successful completion of the bounty).

No.

Will the applicant, or any protocol or project in which the applicant has a vested interest (other than Rocket Pool), benefit financially if the bounty is successfully completed?

No.

3 Likes
3

Rocket Pool Support Payments Dec 2024-May 2025

General Information

What is the nature of the proposed bounty?

Provide support for questions posed by Rocket Pool community members in the # support discord channel; questions come largely from Node Operators and those hoping to be Node Operators. Reimbursement to contributors had previously been retroactive, which has several weaknesses (for example, not strongly encouraging support due to unknown reimbursement, erratic payments only done when requested by contributors, difficult policing given very long timespan [usually years] of contributions).

Allowing prospective payments allows for both effective budgeting from the DAO, the possibility of increasing payments for critical time periods (for example, bonus payments to encourage more #support contributors around rocketpool v2, LEB rollout, or megapool transition), and quicker feedback to contributors for their efforts.

Why are you writing this bounty proposal?

  1. I think #support has been one of the most important services offered by the RP community and deserves regular reimbursement. This is particularly true as we look towards scaling up and lowering bonds in :checksnotes: the next 8 months with the new NOs we are trying to onboard.
  2. I think prospective reimbursement is both easier to administer and more effective than a retrospective payment structure.
  3. I think the previous bounty period May-November shows that this type of bounty has not resulted in any large-scale negative effects in #support (eg bots or low quality contributions)

Benefit

<please enter N/A where appropriate>

Group Benefits
Potential rETH holders questions answered, although much of this is done in # general/# trading
rETH holders Solving NO issues ultimately benefits rETH holders through less downtime and drag on APR, as well as facilitating the supply side of rETH
Potential NOs Huge benefit, both for answering questions and for the assurance that should problems come up, there is an active support structure
NOs see above
Community The community provides support; this bounty will regularize payments. The payments will all go to community members. The folks who are active in # support are often active in other parts of the protocol that they are not reimbursed for
RPL holders By creating a budget for # support, the payments will be more regular and we will not have as many unclaimed allocations weighing on our balance sheet

Which other non-RPL protocols, DAOs, projects, or individuals would stand to benefit from the bounty being successfully completed?

So it is likely that questions about Rocket Pool adjacent protocols (as examples, NodeSet or Dappnode) sometimes pop up in support, but almost always in the context of Rocket Pool nodes.

Work

What steps would be entailed in completing the bounty? Do successful examples of such work exist elsewhere? What skillsets or knowledge will be required?

Provide user support in the # support channel of discord, under the following terms:

  1. Provide at least 1 hour of work providing #support discord channel in EACH of the three months December 2024-February 2025 and/or March-May 2025, as measured by RocketScrape; alternatively provide 15 hours TOTAL over each 3 month block.
  2. Within the first 3 days after a 3 month block ends a list of all potential awardees will be produced by GMC.
  3. A 10-day period will follow where any community member can publicly or privately notify the GMC that a potential awardee was not providing support (for example, was requesting support) or not providing quality support (for example, multiple ineffective messages/farming). Anyone offering # support can also petition to add their name to the list if they narrowly failed the initial inclusion criteria and can be included on a case-by-case basis.
  4. The GMC will investigate the # support record of any questioned potential awardee and weight contributions either 0%, 50%, or 100% based on posts on # support channel. The 50% level will be for users with approximately 25%-75% effective support messages. Potential awardees receiving 0% or 50% will be considered 0% or 50% for future # support bounties unless they specifically request and are granted re-evaluation.
  5. The “cost” below will be split proportionally amongst all awardees based on time spent as measure by RocketScrape and adjustments based on investigation in (5); payment will be done during the next GMC distribution phase.

Note: No further # support retroactive awards will be considered for this timeframe to # support contributors.

What advice would you give a bounty hunter working on this bounty?

The pot is a fixed amount. If there are people who are not actively helping or should not be providing # support, there should also be self-monitoring to ensure that high quality contributors are not diluted. This can be done on the back-end by GMC oversight, but self-policing is encouraged (if for no other reason than a better experience for support seekers).

  • If farming becomes an issue then some degree of whitelisting (support guild) may be needed in the future.

Should the output of this bounty be available under an open source license?

n/a, although rocketscrape should continue to be open source.

Costs

How much do you think the completion of this bounty worth to Rocket Pool (in USD)?

18,000 USD for each 3 month time period.

This works out to about 8.5 USD/hour for 24/7 coverage, which is a great deal for RP, and based on recent use will likely be about 45-80 USD/hr for #supports time, which i think is also reasonable for a community project.

How much work will be needed to verify this bounty has been completed? What skillsets or knowledge will be required?

RocketScrape
GMC investigation by reading support messages of people identified as not offering quality support.
Math

Structure

How would you structure this bounty, and why?

Payments portionally split amongst all awardees based on adjusted hours worked per RocketScrape, as listed above.

Is this bounty repeatable?

The goal is to provide reimbursement for ongoing support. There are other ways to pay contributors prospectively, and it may be that other better systems are proposed. I think this systems is very low overhead and ‘good enough’. The specific amount is always open to negotiation from GMC.

Are there any reasonable circumstances under which this bounty should be withdrawn? Should it expire?

Only good for the 6 months in question. It should be withdrawn if there is significant evidence of gaming. It can be withdrawn effective immediately based on GMC request; in this case prorated awards would be calculated up to the withdrawal date.

Conflicts of Interest

Does the person or persons proposing the bounty 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 successful completion of the bounty).

None

Will the applicant, or any protocol or project in which the applicant has a vested interest (other than Rocket Pool), benefit financially if the bounty is successfully completed?

I lack the basic knowledge required to offer # support and will not benefit financially.

4

Bounty Name

STAR Initiative (rETH Incubator)

General Information

What is the nature of the proposed bounty?

Individuals or groups (*intermediaries ) are tasked with locating DAOs, treasuries and similar interests (organizations ) holding ETH and through the forums/discords/direct contacts encourage these institutions to mint rETH. In return, the intermediaries get rewards related to how far along the Path to Mint (PtM ) the organizations get.

Why are you writing this bounty proposal?

To create an active approach engaging DAOs, treasuries, and organizations to increase rETH demand.

The rETH Incubator submission written by @drdoofus can be found here.

The purpose of this post is to present a detailed pricing proposal for consideration and methods of implementation by the GMC.

Benefit

<please enter N/A where appropriate>

Group Benefits
Potential rETH holders Increases the accessibility and credibility of rETH as a staking option. Seeing large DAOs and organizations adopt rETH can encourage individual stakers to trust and engage with the protocol, boosting adoption.
rETH holders Increased demand for rETH, potentially improving its liquidity and market value. It can also strengthen the perception of rETH as a stable and reliable staking derivative.
Potential NOs Growing rETH demand validates Rocket Pool’s ecosystem, offering assurance to new entrants considering running a node.
NOs This will likely indirectly increase the value of the RPL token by removing protocol growth bottlenecks. Most NOs hold the RPL token.
Community Fosters active engagement within the Rocket Pool community by empowering individuals to participate in a structured and incentivized outreach effort.
RPL holders This will likely indirectly increase the value of the RPL token by removing protocol growth bottlenecks.

Which other non-RPL protocols, DAOs, projects, or individuals would stand to benefit from the bounty being successfully completed?

N/A

Work

What steps would be entailed in completing the bounty? Do successful examples of such work exist elsewhere? What skillsets or knowledge will be required?

This initiative is based on the previous rETH initiative - Staking ETH with Rocket Pool Organization and Outreach (SEWRPOO) started in 2021.

History
SEWRPOO was an initiative started by Dr Doofus in 2021 to generate rETH investments in the Rocket Pool protocol. It was run from a simple google doc and through the discord on a volunteer basis. The idea was to leverage the vast knowledge and connections in the community to connect to DAOs (and other organizations) who were sitting on ETH reserves and convince them to mint rETH.

While going through these organizations’ forums, we saw many instances of Lido representatives already there and getting great success at bringing votes to the forums to move treasury funds to stETH. They were much more organized, but we did make headway and found many members of these various DAOs were sympathetic to Rocket Pool’s cause.

Results
Rocket Pool was really in its infancy (from the point of view of being established on mainnet), so we encountered some resistance from organizations that wanted more “stability”. We were also much less organized than Lido and there was some confusion about our messaging. However, we were beginning to break through.

We had success with NounsDAO and Nexus Mutual (14k ETH) and were just getting started.

Suspension
The initiative fell into disuse when the deposit pool became chronically full and we realized it was not likely to empty anytime soon or for very long. At that time, pushing to mint rETH was at odds with protocol goals as bringing organizations to Rocket Pool just to have them not able to mint reflected poorly on us. Our time was better spent elsewhere.

Details for STAR Initiative
In short, resume SEWRPOO, with improvements based on previous experience and with the addition of rewards. Individuals/groups of intermediaries will search out organizations and make or attempt to make inroads that lead to rETH minting. We want many hands feeding the machine.

Pitfalls from the previous initiative and how we can avoid them this time

Reluctant Volunteerism

Issue
Last time we relied on volunteers to do the leg work.
Thus we relied on the community motivating itself for free.

Solution
We now have a functional GMC and funds to reward any attempts on the Path to Mint.

Overlapping Endeavors

Issue
There was a non-professional vibe we gave off when multiple people reached out to the same group. In one instance we petitioned a DAO that Mav was already talking to.

Solution
Use a central source of information, like the Google Doc from last time and require its use (last time we were too informal) in order to get rewards. We will also likely rely on the GMC or a special subset of the GMC/community to be in charge of oversight (the Oversight Committee).

Content Confusion

Issue
There was some confusion last time in how we presented to some DAOs. We were still in the stage where we were pushing Rocket Pool was good because RPL was good insurance (to be fair, knoshua was arguing that wasn’t true even back then). We also had the issue that a DAO was open to hearing us and we weren’t ready with material to give them.

Solution
Use boiler plate text and get Oversight Committee approval before each step. We should have something of a standard marketing spiel with plots and numbers to spring on forums when they are willing to engage.

Spam – the bad kind

Issue
At times, too many hands were at work. It could look like brigading or cult behavior in the discords and forums. There were also times the RP contingent could appear too pushy.

Solution
Truly, I believe some of that was due to being so new and hungry/desperate. However, having official procedures about who the intermediary to the organization will be and reminding others to let them take the lead will remedy this.

Organization

  • Discord
    There will be a dedicated GMC channel for the initiative. From that point, participants can onboard new members, guide them through the process, and provide progress updates. I do not recommend using the main Rocket Pool Discord because we have limited permissions.

  • Oversight Committee
    The oversight committee will be responsible for approving the CRM, process implementations, graphics and marketing materials, and verifying rewards within the central record. I recommend keeping the committee lean, with 3–4 members. Willing GMC members should be prioritized, and if they are unavailable, candidates from the wider community can be considered. Additionally, I suggest implementing a straightforward member replacement process to ensure active participation, as the effectiveness of the committee depends on the engagement of its members.

  • CRM
    A framework for customer relation management will be built in for maximum collaboration and efficiency among the program’s participants. I recommend consulting with Dr Doofus, on his previous tools and seeing where improvements can be made.

  • Central Record
    A log will be maintained for all successfully achieved tiers, capturing details such as the individual, the organization, the date, and other relevant information.

Costs

How much do you think the completion of this bounty worth to Rocket Pool (in USD)?

  • Overseer (recommended) - $8,000
    Hire an individual to oversee the entire initiative and manage updates to the CRM. This individual will receive a monthly payment of $1,000 and will be responsible for making continuous improvements to the process and ensuring smooth operations. I suggest inquiring about Dr. Doofus’s availability for this role. If the GMC does not deem a dedicated individual necessary, I am willing to incorporate these responsibilities into my current schedule as Administrator.

  • Marketing Package (recommended) - $1,000
    Hire a graphic designer to build materials for the intermediaries to use during their communication.

  • Rewards - $200,000
    A 0.5% incentive (see Tier 5 below) would amount to $40,000,000 worth of rETH minted (minus the rewards from other tiers)

Total: $209,000

How much work will be needed to verify this bounty has been completed? What skillsets or knowledge will be required?

Rewards Structure

Path to Mint (rewards structure)
The key to generating community involvement will be the tiered rewards along the Path to Mint. There are, as of now, five tiers starting at identifying prospects and leading to rETH minting.

I believe we should deviate from the standard reward tiering systems in which rewards monotoically rise as tier increases. In this case I would not over reward at late tiers (except perhaps the final rETH minting) and rather reward highest at tiers 2-3 (where the organization’s voting body is engaged).

This is for a couple reasons:

  1. Practically - Our intermediaries can work effectively enough to get them to the forum post. It is then perhaps beyond their abilities to force a vote to pass even though they have done all they can do to that point.
  2. Pre-emptively - It is daunting to go from contacting a DAO to hoping the mint rETH in order for all your work to be rewarded. It might prevent people from even starting the process.

We will encourage much more outreach if the rewards happen sooner in the process.

This system is based on first hand knowledge of a corporation that wanted to increase patent applications for their employees. When bonuses were tied to submitting patents rather than being awarded the patent, patent applications went way up and resulted in more awarded patents than they had gotten by just giving bonuses for awarded patents. When people were paid for trying, more tried and more success was obtained.

Tiers

  1. Identify a unique organization with a treasury/funds worth reaching out to in regards to minting rETH. You can request to be the intermediary or another can be assigned.
  2. If you are assigned as intermediary, find the relevant contact at the organization and get information on how to proceed with requesting they mint rETH. Using the boilerplate guidance, engage their community/leadership in lead up to a vote.
  3. Official vote is proposed
  4. Vote is approved
  5. rETH gets minted

Rewards (first guess)

  • Tier 1 - $10
  • Tier 2 - $100
  • Tier 3 - $50
  • Tier 4 - $50
  • Tier 5 - 0.5% of rETH mint

At each stage, the central record must be updated and approved by the Oversight Committee.

Is this bounty repeatable?

The bounty is an ongoing reward structure until the GMC decides to terminate it or it expires.

Are there any reasonable circumstances under which this bounty should be withdrawn? Should it expire?

The bounty will expire in 8 months from its inception.

Conflicts of Interest

Does the person or persons proposing the bounty 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 successful completion of the bounty).

I am the GMC Administrator. I do not expect compensation for any work I do on this project.

Will the applicant, or any protocol or project in which the applicant has a vested interest (other than Rocket Pool), benefit financially if the bounty is successfully completed?

No

1 Like
5

Lottery for rETH holders

General Information

What is the nature of the proposed bounty?

The proposal seeks to establish monthly (every reward checkpoint, to be precise) lottery among rETH holders, allowing to win ETH prize.
pDAO sponsors and executes it. Implementation does not require any SC or reward tree spec work and raffle process is transparent.

Why are you writing this bounty proposal?

Currenty, RP experiences shortage in rETH minters. If rETH comes with a chance to win a solid money prize this would incentivize people to mint and hold rETH.

Benefit

Group Benefits
Potential rETH holders Increases appeal of minting and holding rETH
rETH holders With the possibility of winning ETH prizes perceived appeal of holding rETH increases
Potential NOs With (expected) increased rETH minting minipool queue will move faster or totally disappears
NOs With (expected) increased rETH minting minipool queue will move faster or totally disappears allowing to deploy more minipools
Community Adds one more entertaining regular activity
RPL holders With (expected) increased rETH minting RPL holders might expect higher RPL ratio due to TVL growth

Which other non-RPL protocols, DAOs, projects, or individuals would stand to benefit from the bounty being successfully completed?

None

Work

What steps would be entailed in completing the bounty? Do successful examples of such work exist elsewhere? What skillsets or knowledge will be required?

Bounty completion requires writing a piece of software which aids a raffle process, i.e., generating lottery tickets, finding the winning ticket, finding the winner. The skills required for this kind of work are comparable to those required in writing reward tree spec implementation.

Additionally pDAO needs to establish special roles responsible for executing and supporting a regular process of the raffle. No special skill set is required in these roles.

Futher details (for bounty definition)
  • A prize must be big enough to lure big fish even under the thread of rETH depeg;
  • Every holder with rETH above some threshold is automatically taking part in a lottery;
  • Individual chance to win is proportional to an amount of rETH holding;
  • pDAO generates lottery tickets just before the checkpoint and determines the winning ticket using the new reward tree merkle root;
  • It is possible to distribute a prize automatically but due to the nature of lottery it is similar to airdrop and we know that airdrops are prohibited in certain states. So to solve this legal obstacle it is possible to create Safe contracts for distributing prizes.
    • This Safe contracts shall have a winning account as one of owners, allowing it to take a prize;
    • If the winner does not take a prize in a designated time window, the winner account shall be removed from Safe owners and prize money to be used as a prize for the next lottery;

Below is the high level spec for the software:

RP-RETH-lottery
RP-RETH-lottery783×1081 154 KB

What advice would you give a bounty hunter working on this bounty?

Read the spec.

Should the output of this bounty be available under an open source license?

It may.

Costs

How much do you think the completion of this bounty worth to Rocket Pool (in USD)?

Estimated software development cost is 200-1000 USD per implementation.

How much work will be needed to verify this bounty has been completed? What skillsets or knowledge will be required?

To verify the correctness of software it’s possible to produce an independent implementation.

Structure

How would you structure this bounty, and why?

  • A single payout to single implementer on completion.
  • If there are more than 1 implementation, than completion means verified correctness of software.

Is this bounty repeatable?

No.

Are there any reasonable circumstances under which this bounty should be withdrawn? Should it expire?

If there is a stable inflow of rETH mints sufficient for liquidating a minipool queue, than the bounty shall be deemed expired.

Conflicts of Interest

Does the person or persons proposing the bounty 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 successful completion of the bounty).

I am willing to be an implementer of software for this bounty.

Will the applicant, or any protocol or project in which the applicant has a vested interest (other than Rocket Pool), benefit financially if the bounty is successfully completed?

No.

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Notice: This message marks the closing of the nineteenth (19) round of Rocket Pool bounty applications. Any applications submitted after this will not be considered for this round. The GMC will announce the award recipients in a new thread here on the forums around December 29th. The community will then have two weeks to issue any challenges before funds are disbursed. Thank you to all who applied and thank you to everyone who has followed along. Anyone who would like to comment on existing applications is encouraged to do so in this thread.