This is an update on the progress of the Star since its launch.
Sales workflow
GMC and some community members have provided feedback on two key points:
• Some individuals who want to pitch on their own are unsure how to proceed.
• Certain concepts and content are difficult to understand and apply.
In response to this feedback, we have made some adjustments:
• Independent pitching: Community members can now pitch independently. The necessary pitch materials and scripts are available on Notion (feel free to comment with suggestions; permissions are open). You can submit a proposal directly in the relevant protocol’s forum, DM the appropriate contacts, or schedule a call. If you encounter challenges or need support during the pitch, you can proceed in your own way without following a predefined sales process. Additionally, you are encouraged to submit details of your ongoing deals so we can provide support and track progress.
• Lead submission only: If you only want to submit leads without participating in the pitch, you can continue using the previous form submission process.
Deals Progress
• ENS DAO: The pitch was completed this week, but ENS has already staked its treasury ETH into Rocket Pool. They also have a policy limiting any single LST to a maximum of 20%. This case will be included in our success stories to strengthen our pitch efforts. A design idea has also been submitted. For details on ENS staking, please refer to karpatkey | Treasury Reports.
• Ethereum Foundation (EF): We attempted to establish contact this week. The response was that they do not accept direct pitches and only share updates via Twitter. I believe Rocket Pool’s official Twitter account should engage with them. The ENS DAO approach could serve as a reference for EF as well. Additionally, we have provided EF with a contact point, so they can reach out if they wish to learn more about Rocket Pool.
• L2 Leads: @Destroyaaa has submitted multiple L2 leads, and Fuel has already started pitching.
This week, the following new leads have been added. If you’re able to pitch to the key decision-makers and push things forward, feel free to proceed.
Two issues are currently under discussion:
Finalizing the specific incentive rules.
How to provide high APRs for DAOs.
The initial incentive structure was as follows:
Submitting a qualified lead: $50
Connecting with key decision-makers: $250
Submitting a proposal and advancing it to the decision-making stage: $700
Completing the rETH minting would then be rewarded proportionally.
Here are two proposed optimizations:
If it’s purely about submitting leads, I suggest canceling this reward. I’ll continue to add leads weekly and conduct internal reviews. Community members can directly use these leads to pitch. If the submitted lead also includes key decision-makers, then the reward remains at $250.
I propose setting aside a portion of the budget to incentivize DAOs to mint rETH. This could be done through LP rewards or lending protocols. For the final reward, half would be used to incentivize the DAO to mint rETH, and the other half would be given to the community member who completed the deal. This approach could help lower the difficulty of closing deals.
Arbitrum DAO Deal – Arbitrum DAO did not choose the rETH proposal and instead leaned toward solutions from Lido, AAVE, and Fluid.
Superchain Treasury Analysis – After analyzing Superchain’s current treasury ETH holdings, only Optimism and Base have significant ETH revenue. Leads for both foundations have been added.
Virtual Treasury Update – Added Virtual leads submitted by @Destroyaaa . The Virtual treasury page was previously live and reportedly held a few hundred ETH, but the page is currently down.
Pitch Deck & Marketing Materials – Design work is in progress and expected to be ready soon. Community feedback is welcome.
GMC Proposal Review – The two proposed adjustments submitted last week are currently under review and voting by GMC. Updates will be provided once finalized.
Upcoming Plans:
If the incentive program is confirmed, would it be better to collaborate with native protocols within each L2 ecosystem to optimize treasury strategies?
Reevaluate the messaging for the Star program to enhance its market presence.
The proposed reward optimizations have been approved by GMC through voting, and the incentive details have been updated in the guideline.
For project marketing, some key messages have been developed:
Promote treasury ETH staking diversification and encourage protocols to follow ENS’s approach.
Since RPL incentives are now available to support DAOs minting rETH, DeFi protocols are welcome to collaborate on boosting APR. Content production and community engagement will begin.
Emphasize rETH’s decentralization and security.
The pitch deck materials are finalized, and I will organize them for use as content assets.
AlphalGrowth’s deal with Ronin to mint rETH is in the final negotiation stage. RPL incentives will be used, allowing us to assess the impact and identify potential adjustments.
The Rocket Pool rETH intro & pitch deck is now ready! Huge thanks to @sleety for providing the materials and GMC for the review. The current version is available for community use—if you have any suggestions, feel free to share.
We’ve initiated some promotions from the treasury ETH perspective and will continue expanding content outreach.
The current leads remain unclaimed. To keep things moving, I’ll begin pitching some of them. So far, Virtuals has connected with the Chinese-speaking community lead, while outreach to others is still in progress. These leads are still open for community members to claim—if you’re interested, feel free to DM me or submit a form.
New leads include megaETH, though similar to Ronin, it may not be treasury ETH but rather ecosystem-related, potentially overlapping with @SSJ2_Spartan . Abstract is not being considered for now, as a collaboration with Dinero is already in place.
Reserve (bsdETH Integration) :Completed the first version of the integration plugin; currently under review by the community and team. Shared with the Reserve community and awaiting feedback.
Resolve :Established a Telegram group with the Resolve team. They indicated rETH will be considered in their upcoming vault. Core team is also exploring deeper collaboration with Resolve.
OP Superchain :Submitted the Strategic ETH Staking Proposal on the Optimism governance forum to promote rETH adoption across the Superchain.
Other :Processing and consolidating the remaining leads.
