Round 9 - GMC Call for Retrospective Applications - Deadline is February 11

This thread is for applications for Rocket Pool’s January 14, 2024 - February 11, 2024 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 grant applications that are posted in this thread and timestamped by February 11, 2024 at 23:59 (11:59 PM) UTC will be considered. Any retrospective award applications posted after that deadline will be carried over to the next award period.

This is the expected schedule for round 9:

  • Application Period (January 14th - February 11th)
  • Application Selection (February 11th - February 14th)
  • Application Discussion Meetings - one for each subcommittee (February 15th - February 19th)
  • Scoring Deadline (February 20th)
  • Final Voting Amendments, Discussion and Finalization (February 20th - February 24th)
  • Award Announcement (February 25th)

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?

### Is the applicant requesting RPL or LUSD?



## 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).

ethstaker.tax - Rocket Pool Mode

Who is the proposed retrospective award recipient?

Myself @eth2353

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.

The project consisted of adding support for Rocket Pool to the already existing ethstaker.tax website.
This was first requested by users of the website about a year ago - RocketPool support · Issue #13 · serenita-org/ethstaker.tax · GitHub . The goal was to make it easy for Rocket Pool NOs to determine their staking income.

When I first seriously started looking into working on this in April '23, it was obvious the way the feature was originally requested (based on a static minipool fee) would not be sufficient - with the introduction of bond reductions, minipool fees no longer stayed the same over a minipool’s lifetime.

I started working on implementing the RP support in September '23. I initially tried to keep it simple by using data from rocketscan but it turned out not to have all the data needed for exact income calculation. I shared an early preview version in the RP Discord at the start of November '23 but it had a few issues and was not 100% accurate.

Upon collecting feedback and ideas for improvements (many thanks to the helpful people on the Discord) I realized that, with a bit more work, the entire user experience could be much improved. Fair to say I underestimated the “a bit more work” part.

This time I committed to not using any external APIs, studying the Rocket Pool smart contracts to determine exactly how the different kinds of rewards work internally. Based on that research I was able to index the necessary data for exact reward calculation.

Calculating the node operator’s share of income from Rocket Pool minipools turned out to be much more complicated than for the regular solo staker. For instance, if a consensus layer withdrawal occurs on the same day that the minipool’s bond is reduced, the node operator’s share of the reward depends on whether the withdrawal occurred before or after the bond reduction ( From a NO’s perspective it is therefore slightly more profitable to reduce a minipool’s bond after a withdrawal occurs rather than right before ).

Apart from indexing the on-chain data, the new Rocket Pool Mode also required changes to ethstaker.tax’s user interface and CSV export functionality.

I don’t think I am overstating when I say this was a complex endeavour, requiring work across multiple layers - smart contracts, backend and frontend.

All of this work turned into something really special - ethstaker.tax now has a very easy-to-use Rocket Pool Mode which makes it a matter of only a few clicks for NOs to determine their income, supporting:

  • CL income
  • EL income - auto-detecting Smoothing Pool usage
  • RPL income

ethstaker-tax-rp-5fps-small

The Rocket Pool Mode was officially announced to the world a few days ago, receiving a lot of very positive feedback from Rocket Pool node operators:

RP Discord
“This is incredible! Thank you for all the work this must’ve taken…”
“Awesome work! :pray: I like that you can just input your RP address and it pulls up all of the associated validators. […] This needs to be featured on all Rocketpool channels. :+1:

r/rocketpool [https://www.reddit.com/r/rocketpool/comments/1ak6w82/ethstakertax_now_supports_rocket_pool/]
“WOW! I can’t thank you enough for this, fantastic work, an invaluable tool”
“This is super cool! Awesome work… thank you!”
“This is really amazing, thank you for doing.”

r/ethstaker [https://www.reddit.com/r/ethstaker/comments/1ak6wvi/ethstakertax_update_rocket_pool/]
“Amazing! Thank you so much!”
“Hey, thanks, I was hoping for this. […]”
“This is fantastic […]”

r/ethfinance daily [https://www.reddit.com/r/ethfinance/comments/1ak2vf5/daily_general_discussion_february_6_2024/kp5u98v/]
“Thanks a lot, that is amazing!”
“Absolutely phenomenal - thanks eth2353. Love the disaggregation across all value streams”

In the first few days of the feature going live over 500 API requests were made to the new RP rewards endpoint. I expect this website to be used by NOs heavily during tax season but will also be helpful throughout the year to determine estimated taxes.

Full disclosure - there are a few limitations/edge cases the website cannot currently handle:

  • promoted minipools - there are currently no measures in place that would detect and/or handle this case (from the numbers I could find this applies to less than 0.5% of minipools and an even smaller percentage of NOs)
  • pre-Redstone RPL rewards are not available

A lot of extra effort was put into this last month to ensure this feature would be ready for every NO to use for this year’s tax season.

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?

Yes, the project is entirely open-source under the MIT license, including the Rocket Pool Mode.

Benefit

Group Benefits
Potential rETH holders N/A
rETH holders N/A
Potential NOs Having this easy-to-use tool makes it more attractive to become a NO. NOs no longer need to worry how they will calculate their income, creating their own spreadsheets/scripts to track all of this manually.
NOs Existing NOs can now easily determine their income - native CL/EL income, RPL income, Smoothing Pool income - all in one place
Community NOs are a large and important part of the RP community. By making their life much easier, the entire community benefits.
RPL holders N/A

Costs

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

Over the last 12 months I estimate to have worked on this around 350-400 hours in total. While I myself needed to spend a lot of time studying the smart contracts, building something like this from scratch would probably take even more time due to the need to index all historical CL/EL/MEV rewards (which ethstaker.tax already had available).

I am requesting a one-time grant of 30,000$.

The website costs around 100-200$/mo to run in terms of infrastructure costs alone at the moment. These costs have so far been covered by donations from Gitcoin grants but any support with these monthly upkeep costs would be appreciated too.

Is the applicant requesting RPL or LUSD?

Either is fine, preference goes towards LUSD.

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).

None.

RPL DeFi - Rocket Pool DeFi Market Opportunities

Who is the proposed retrospective award recipient?

regexbuster

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

The Rocket Pool DeFi document (www.RPLdefi.com) has been updated with new market rates and opportunities bi-weekly for the last two months. After the rates were updated, the information was shared on X and Discord. Updating the sheet is the main going of the project but a thread of the rates and the top opportunity is posted to X, and cross posted in Discord, to showcase the work done on the sheet.

Are the subjects of this award entirely open source

Yes

Benefit

Group Benefits
Potential rETH holders Education on current rETH APY and additional yield opportunities in DeFi
rETH holders Education on current rETH APY and additional yield opportunities in DeFi
Potential NOs N/A
NOs N/A
Community Education on DeFi opportunities and How to take advantage of them within the RP community
RPL holders Education and information on how to earn additional yield on RPL if not staked

Costs

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

Previously the updates and the X thread were awarded ~$50 per update. I am requesting for the past 5 updates (Dec 14th, Dec 28th, Jan 11th, Jan 25th, and Feb 8th). This would work out to $250 for the whole updates (~8.5 RPL at time of posting)

Is the applicant requesting RPL or LUSD?

RPL

Conflict of Interest

Does the person or persons requesting the retrospective award have any conflicts of interest to disclose?

I am not aware of any conflicts of interest.

Name of Retrospective Award

Research on improving Node Operator supply strategy and performance.

Who is the proposed retrospective award recipient?

@signalxu

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.

Background

After the Rocke Pool deposit pool limit was increased once, it is currently frequently at full capacity. In such instances, users are unable to mint rETH by staking ETH, they can only obtain ETH through swaps on a DEX. This has, to a certain extent, impacted the supply of rETH. If one desires to utilize the ETH in the deposit pool, one option is for users to perform unstake operations. However, this is undesirable as it not only fails to increase the rETH supply but also diminishes it. Another alternative is to boost the supply from node operators(NOs), which not only augments the rETH supply but also enhances ETH efficiency.

Detail

Mainly based on RPIP-13, but not limited to this particular approach.

  • Marketing
    • Current acquisition and competition strategies for node operators across various protocols.
    • Revenue potential for node operators across different protocols.
  • Technical
    • Relevant EIPs for node operators.
    • Technical improvements to enhance node operator performance (e.g. preventing slashing).
    • Technologies related to the SaaS model.
  • RPIP-13
    • Several feasible technical implementation options for SaaS.
    • Risk analysis, including code simulation.
    • Attainable shares and predictions.
  • Other viable strategies.

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?

Yes, github:research/rocketpool/nodeoperator.md at main · signalxu/research · GitHub

Benefit

Group Benefits
Potential rETH holders Acquiring rETH can be done through new minting, eliminating the need for frequent premium swaps.
rETH holders -
Potential NOs Reduce the barrier to entry.
NOs Improve performance
Community -
RPL holders Boosting the supply of rETH to enhance the value of RPL; Participants can directly engage in RPL staking to earn rewards.

Costs

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

$6000 for 10 week

  • Initial $1500
  • Complete and submit $3500
  • Community review and fix issue $1000

Is the applicant requesting RPL or LUSD?

RPL

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).

No

Rapid Research Reviewer Compensation

Who is the proposed retrospective award recipient?

The five reviewers that volunteered and were assigned to the Rapid Research Incubator project.

Ken, Kane, Langers, knoshua, and LongForWisdom.

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.

The reviewers read, analyzed and reviewed 21 submissions over the course of two weeks. They also attended a highly valuable discussion call to share their opinions with one another.

Here is the results of their work.

I surveyed each reviewer to ask the amount of time they spent on the review process.

Here are the survey findings from four individuals of estimated hours / time spent:

  • 8 hours reviewing
  • 7 hours not including meetings
  • 14 hours total ( ~10 hours reading all the submissions, asking questions, thinking about them, taking notes, 2 hours for meeting plus prep for meeting, 2 hours for scoring and making sure my scores were consistent across all submissions)
  • 8.5 hours (5.5 hours summarizing, 3 hours grading)

(I have anonymized the reviewers because I don’t believe sharing their identities has any value.)

The five individuals selected demonstrate an exceptional understanding of the protocol. Considering their expertise, it’s likely that involving different reviewers would have significantly increased the time investment.

Planning For The Future
The survey feedback collected so far from reviewers about the research process has been overwhelmingly positive. There’s still a few reviewers that are composing suggestions that we will attempt to integrate into future review processes. The community has shown a heavy interest in replicating this process into other initiatives. One example would be to collect ideas to expand the vision and goals for the GMC. Discord Link

For this, I would recommend making Epi’s research bounty something that reoccurs every few months with different focuses each time. I think in general it’s been really successful in getting ideas written up, and it wasn’t terribly costly. Could do another round in a few months time with the brief being ‘how to better set DAO strategy’ or something. - Long For Wisdom

I really like this idea! Also happy the the research bounty has been successful - Dondo

Having a solid incentive in place for future reviewers is ABSOLUTELY ESSENTIAL. The Rapid Research Incubator process would not have achieved such amazing results if these five reviewers did not step up to the task. This retro not only awards previous work but sets the precedent and expectation moving forward.

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?

The reviews and feedback were published to the entire community.

Benefit

Group Benefits
Potential rETH holders Various tactical ideas were generated that could potentially improve protocol tokenomics
rETH holders Various tactical ideas were generated that could potentially improve protocol tokenomics
Potential NOs Various tactical ideas were generated that detail how to improve NO incentives
NOs Various tactical ideas were generated that detail how to improve NO incentives
Community The project itself is a great example of how strong are decentralized community is and how much we all build together. There were several new GMC awardees who contributed their ideas.
RPL holders Based on the various ideas of creating stronger incentives geared towards NOs, RPL demand should increase.

Costs

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

$5,000 ($1,000 for each reviewer).

This breaks down to about $100/hr if we put the average amount of time spent reviewing at 10 hours per reviewer.

Is the applicant requesting RPL or LUSD?

RPL

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 the administrator for the GMC. Ken is a GMC member. Kane and Langers are on the official Rocket Pool core team. The GMC is welcome to use their discretion if they feel any of the awardees should be excluded from compensation.

Epineph has voiced several times he does not wish to be compensated for his invaluable work that built the framework for the Rapid Research Incubator program. For this reason, I will not be submitting a separate retro for his work, but I’m acknowledging how absolutely essential and valuable it was.

Notice: This message marks the closing of the ninth 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 25th. 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.