Round 21 - GMC Call for Retrospective Applications - Deadline is February 7

Grants / Bounties
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This thread is for applications for Rocket Pool’s January 7, 2025 - February 7, 2025 retrospective awards. Please only post retrospective award 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 retrospective award applications that are posted in this thread and timestamped by February 7, 2025 at 23:59 (11:59 PM) UTC will be considered. Any retrospective awards posted after that deadline will be carried over to the next award period.

This is the expected schedule for round 21:

  • Application Period (January 7 - February 7)
  • Scoring Deadline (February 18)
  • Final Voting Amendments, Discussion and Finalization (February 19 - February 21)
  • Award Announcement (February 23)

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.

Retrospective Award Rubric

To what extent did the proposed and completed project further the GMC goals?

Note: if the project is ongoing, the retrospective award is given for work completed prior to the current award period, with any future awards for the same project expected to compete in the Grants category and as a separate application.

Retrospective Award Application Template

Please copy paste the template below into a reply. Answer the questions there, feel free to remove or add sections based on relevance.

## Name of Retrospective Award

### Who is the proposed retrospective award recipient?

### What specific project or work is the retrospective award in recognition of? Please detail what the project or work entailed and the duration over which it took place.

### Are the subjects of this award entirely open source ([MIT](https://opensource.org/licenses/MIT), [GPL](https://www.gnu.org/licenses/gpl-3.0.en.html), [Apache](https://www.apache.org/licenses/LICENSE-2.0), [CC BY](https://creativecommons.org/licenses/by/4.0/) license or similar)? If not, which parts will not be, why, and under what license will they be published?



## Benefit

<please enter N/A where appropriate>

| Group | Benefits |
|---|---|
| Potential rETH holders | How did the project or work for which the retrospective award would be given help people looking to stake ETH for rETH? |
| rETH holders | How did the project or work for which the retrospective award would be given help rETH holders? |
| Potential NOs | How did the project or work for which the retrospective award would be given help people looking to run a Rocket Pool node for the first time? |
| NOs | How did the project or work for which the retrospective award would be given help people already running a Rocket Pool node? |
| Community |  How did the project or work for which the retrospective award would be given how does this help the Rocket Pool community? |
| RPL holders |  How did the project or work for which the retrospective award would be given how does this help RPL holders? |



## Costs

### How much USD $ is the applicant requesting be awarded to the recipient?



## Conflict of Interest

### Does the person or persons requesting the retrospective award have any conflicts of interest to disclose? (Please disclose here if you are a member of the GMC or if you have nominated a member of the GMC for this retrospective award).
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Name of Retrospective Award

Staking ETH with Rocket Pool Organization and Outreach

Who is the proposed retrospective award recipient?

Dr Doofus

What specific project or work is the retrospective award in recognition of? Please detail what the project or work entailed and the duration over which it took place.

SEWRPOO was run over the first roughly six months of 2023. It was an initiative developed by Dr Doofus to generate rETH minting that involved volunteers searching out DAOs and convincing them to mint rETH with their treasury funds. Dr Doofus coordinated, organized and aided in searches/communications with DAOs.

The initiative was just taking off with two successful deals, one with Nexus Mutual for 14100 rETH (via uisce) and one with NounsDAO for 500 rETH (via LFO and Waq). The NounsDAO was about to mint another 7000 rETH when they ran into some issues and that minting never came about.

SEWRPOO took a significant amount of time as it involved going through many forums trying to connect with the community and explain the importance of LST diversification. Most of these DAOs had already been approached by Lido. It also took significant time to keep the RP community involved.

The initiative was not only successful, but would have lead to more rETH minting as there were deals in the pipeline. However, at that time, the deposit pool maxed out and it was no longer a good look to push rETH when the treasuries would have to buy on a premium on the open market. SEWRPOO then went into hibernation.

Its child, STAR, has been born from the dead body of SEWRPOO and this retro is not so much for Dr Doofus (although he will get the funds), it is for SEWRPOO. As an acknowledgement of its value and success.

Are the subjects of this award 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?

Not really applicable

Benefit

<please enter N/A where appropriate>

Group Benefits
Potential rETH holders How did the project or work for which the retrospective award would be given help people looking to stake ETH for rETH?
This taught them the reasons to stake ETH, what it would gain them and how they should go about doing it from start to finish.
rETH holders How did the project or work for which the retrospective award would be given help rETH holders?
More rETH out there is potential for rETH liquidity in other DeFI. I don’t know that that actually happened in these cases, though, I suppose.
Potential NOs How did the project or work for which the retrospective award would be given help people looking to run a Rocket Pool node for the first time?
The staked ETH is what gives more NOs the power to NO.
NOs How did the project or work for which the retrospective award would be given help people already running a Rocket Pool node?
Hmm. N/A, I suppose, except second order effects like smoother smoothing pool, etc., since more NOs.
Community How did the project or work for which the retrospective award would be given how does this help the Rocket Pool community?
rETH minting is the main reason RP is here. This benefits the entire RP protocol, all tokens, but more importantly, this was one of the first big initiatives that taught the community that they could be a regular person and get directly involved in helping the protocol succeed.
RPL holders How did the project or work for which the retrospective award would be given how does this help RPL holders?
Created more opportunities to stake RPL since more minipools could be created with more rETH available.

Costs

How much USD $ is the applicant requesting be awarded to the recipient?

No great way to estimate, but I’ll use the current rewards system for STAR and try to minimize the amounts. For example, this will be worth less money the more deals we assume STAR will make, so I estimate all rewards from STAR will only come from two deals.

Total minted from SEWRPOO (rough rounding):
14600 rETH (14100 Nexus Mutual + 518 Nouns DAO)

Estimate of admin rewards for STAR assuming all rewards are captured:
$8k for $200k rewards.

Assuming two deals for all the rewards, the $200,000 rewards would result from 110k rETH minted (0.1% in USD for the first 10k rETH minted + 0.05% after that).

Scaling that ratio to the 14.6k rETH from SEWRPOO => $1061

Conflict of Interest

Does the person or persons requesting the retrospective award have any conflicts of interest to disclose? (Please disclose here if you are a member of the GMC or if you have nominated a member of the GMC for this retrospective award).

I am on the GMC

3

Name of Retrospective Award

RPIP 64 + Initialization POAP

Who is the proposed retrospective award recipient?

@haloooloolo, @ShfRyn

What specific project or work is the retrospective award in recognition of?

This is in recognition of the work to prepare for the first pDAO on-chain vote. This includes the initiative to activate the remaining vote power, write the RPIP and vote text and some minor governance work.

Are the subjects of this award 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?

Mostly not applicable, the RPIP and vote text are public.

Benefit

Group Benefits
Potential rETH holders On-chain voting voting reduces governance risk for rETH holders
rETH holders Same as for potential holders - lower governance risk
Potential NOs More direct participation enabled by on-chain voting
NOs Same as potential node operators in addition to some gas savings by having their vote power initialized for them
Community Nice POAP :slight_smile:
RPL holders N/A except for NOs

Costs

$750 - RPIP + governance work (haloooloolo)
$100 - POAP art (ShfRyn)
0.13 ETH - Vote initialization cost minus POAP revenue (haloooloolo)

How much USD $ is the applicant requesting be awarded to the recipient?

$850 (+ 0.13 ETH)
whether to cover the extra 0.13 ETH I will leave up to the GMC as initializing 100% of vote power wasn’t strictly necessary to achieve the stated goal of being “close enough”

Conflict of Interest

None

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Notice: This message marks the closing of the twenty first (21) round of Rocket Pool retrospective award 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 February 23rd. 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.