Round 7 - GMC Call for Bounty Applications - Deadline is December 10

ShfRyn · 12 November 2023 01:00

This thread is for applications for Rocket Pool’s November 11, 2023 - December 31, 2023 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 (link) which has been established for all community discussions related to this round of applications. Only those grant applications that are posted in this thread and timestamped by December 10, 2023 at 23:59 (11:59 PM) UTC will be considered. Any bounties posted after that deadline will be carried over to the next grant period.

This is the expected schedule for round 7:

Application Period (November 11th - December 10th)
Application Discussion Meetings - one for each subcommittee (December 14th - December 18th)
Negotiation Period (December 19th - December 25th)
Scoring Deadline (December 26th)
Final Voting Amendments, Discussion and Finalization (November 27th - December 30th)
Award Announcement (December 31st)

Please note the following 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.

Bounty Rubric

The Bounties rubric involves scoring each of the three categories from 1 to 5:

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?

The maximum score is 15 and the minimum is 3.

Bounty Application

Please copy paste the template below into a reply. Answer the questions there, feel free to remove or add sections based on relevance. Be sure to replace the data in the benefits table column with your answers.

## Name of Bounty

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

### Must the results of this project be 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?

## Benefits - 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? |

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

### Will the results of the completed bounty be open source?

## Work and Verification

### What steps would be entailed in completing the bounty? Do successful examples of such work exist elsewhere?

### How long is the proposed bounty available for? Is it awarded to the first team to successfully claim it, or is it in some way divided among all such successful claims in the proposed availability period?

### Who will test any products submitted for claiming the bounty?

### What is the acceptance criteria for awarding of the bounty?

## Payment

### How much USD $ is the applicant requesting for successful completion of the bounty?

## Conflict 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?

epineph · 10 December 2023 20:07

Name of Bounty

Rapid Research Incubator

What is the nature of the proposed bounty?

The Rocket Pool protocol has grown substantially since launch, but is not keeping pace with Lido validator market share. Lido has plans to launch a more ‘decentralized’ option within a year, anticipated to allow home stakers to stake with 4E bond and 7.5% commission on the other 28E. This will likely threaten the value proposition and growth of Rocket Pool, but more generally the idea of credible neutrality and the decentralization of the Ethereum network. The RP protocol will need to adapt in multiple ways to meet this competition.

This bounty is meant to rapidly generate actionable ideas for ways forward to drive more value to NOs specifically and the protocol in general. The payment structure is intended to provide some financial reimbursement for diverse community members actively brainstorming solutions, as well as more heavily reward selected ideas that have a high likelihood of being translated into protocol improvements.

This is a chance to get paid for ideas which you think are great for the protocol, but that you might have previously felt were too radical. We are at a point where we need to think outside the box, and quickly.

The goal after initial brainstorming is to pick several promising ideas and fund further research to get them over the finish line, voted upon, and eventually enacted.

Must the results of this project be entirely open source ([MIT]:

Yes. The contents of submissions will be used by the Rocket Pool community and the team.

Benefits - enter N/A where appropriate

Group	Benefits
Potential rETH holders	currently there is more demand for rETH than supply; this research will help improve rETH supply so that more rETH can be owned (non-full deposit pool) for cheaper (less premium) and better APR (less drag)
rETH holders	the full DP is a drag on rETH APR; this seeks to minimize that drag by increasing NO supply, and potentially reducing commission
Potential NOs	we seek to increase value for NOs in ETH terms which make becoming a NO more attractive; additionally, by developing ways to drive value to RPL, we may open up options for RPL-averse NOs
NOs	See potential NOs and RPL holders
Community	This is intended to distribute bounties widely to get multiple viewpoints, particularly from those who may otherwise not be as active
RPL holders	RPL valuation is based in large part on capture of market share; this bounty aims to improve the ability of the market to correctly value RPL, as well as the ability for the protocol to grow.

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

None, really- except those protocols that are directly emulating Rocket Pool

Will the results of the completed bounty be open source?

Yes

Work and Verification

What steps would be entailed in completing the bounty? Do successful examples of such work exist elsewhere?

This bounty requests community members submit a brief/abstract/document with specific/actionable recommendations regarding any of:

Mechanisms that help balance supply/demand across the parties in the protocol: rETH, RPL, and NOs (for example, balancing commission --rETH vs NOs-- or balancing minimum RPL bond --RPL vs NOs).
Mechanisms of alternative value capture for RPL (besides pure use as staked bond)
Mechanisms and feasibility requirements for lowering ETH bond requirement for minipools
Updates on the penalty system/MEV safety, including evaluating options for node level collateral

Suggested length of 0.5-3 pages on any topic above, including specifically which topic or topics it is intended to answer. The brief should include both perceived benefits and suspected drawbacks/downsides, further research/data/decisions needed, specific actionable recommendations, and general implementation ideas. The brief does NOT have to be polished or include complete data analysis/specific code; it will NOT be judged on English proficiency, grammar, etc.

The brief should be a single work you can link to, rather than referring to a series of posts/threads. A single individual can submit multiple works. It can be posted as a single discord post, a forum post, a GitHub submission, an uploaded document, and any other form that can be easily viewed.

How long is the proposed bounty available for? Is it awarded to the first team to successfully claim it, or is it in some way divided among all such successful claims in the proposed availability period?

The submission period will end 23:59 UTC on January 2nd 2024 (note this is slightly prolonged from previously listed bounty. All serious submissions will be considered, with payments as noted below for top submissions.

Who will test any products submitted for claiming the bounty?

There will be a committee to read through and review the briefs, with binding/non-negotiable power over assigning awards. A mechanism for non-binding community voting is also likely.

The details of the decisions committee are still undetermined - this could be the full GMC, a subset of the GMC, or a body delegated this responsibility by the GMC; it may depend on the volume of submissions.

What is the acceptance criteria for awarding of the bounty?

Every serious submission will be considered. Between 13 and 17 submissions will be rewarded with $250-2500

Highly prized qualities will be: specific actionable recommendations, high impact, innovation/uniqueness of ideas, persuasive discussion, evaluation of drawbacks/steel-man arguments, and feasibility from both technical and political (pDAO) standpoints.

Payment

How much USD $ is the applicant requesting for successful completion of the bounty?

Specific submissions/mechanisms that are felt to be the most useful/innovative/promising for eventual adoption will receive Gold/Silver/Bronze x3 prizes ($2500, $1500, $1000 (x 3) reward levels).

Additionally, 250$ will be paid to up to 12 individuals who submitted work but did not receive the above awards.

A maximum 10k USD will be dispersed based on these criteria.

Conflict 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 a member of the GMC, and I do have financial conflicts with this submission; as a result, I will not be involved in any discussions regarding GMC approval/rejection of this bounty except to answer general questions about the wording, nor will I be a recipient of any funds.

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

ShfRyn · 11 December 2023 01:05

This message marks the closing of the seventh round of Rocket Pool bounty 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 December 31st. 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.