I’m in support of this grant! The tech Rabbithole has built is very valuable as a discovery tool for users to get acquainted with Arbitrum projects. Running multiple Arbitrum-specific quests with $ARB rewards will significantly boost the effectiveness of the STIP.
Thank you @litocoen!
I’ve been following the Arbitrum ecosystem for the past 2 years but sadly I don’t even know who you are…
No worries @0xGDucky, we’re happy to tell you more! We’ve been building quests for over 3 years and have built a protocol around Quests that makes it easy for any community like Arbitrum to build their own quest platform like RabbitHole. Anyone can deploy quests to the protocol from any interface, but most use Quest Terminal. All Arbitrum quests created on Terminal with ARB as the token reward will be displayed on the Arbitrum Community Gateway, which is a quest platform exclusively for Arbitrum quests. All quests will also appear on RabbitHole, which has 30K+ quest completions per day. Happy to answer any other questions that you may have about the project or the proposal!
Can you please clearly explain this as i am struggling to understand. Is this highlighting that 10% of the ARB grant would essentially be pocketed by RabbitHole? If so - i am not aligned with this. The entre grant is intended to go to the end users (whatever they look like) and not operational teams or platforms or third parties involved in providing a service.
Thanks for taking the time to leave comments and feedback @flindy! Great questions. For context, RabbitHole is a quest platform built on top of the Quest Protocol, which anyone can build on top of.
The major difference between Quest Protocol and other quest platforms like Galxe is that:
- Anyone can deploy a quest for any project (usually its just the project itself), leading to the community to be involved in quest creation
- Anyone can distribute ERC20s programmatically for completion of onchain actions (whereas in Galxe it’s only NFTs)
- There a built-in incentives into the protocol and that are enshrined in the contracts to make sure all the participants in the ecosystem are aligned. The participants in the ecosystem are as follows:
The 3 Roles in the Quest Protocol Ecosystem:
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Quest Creators - A wallet address that deploys a quest onchain
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Quest Referrer - A wallet address that refers a quest participant to complete a quest
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Quest Participant - A wallet address that completes a quest and earns a token reward
Each of these roles earn fees being generated by funds entering the system (ie. grant funds) for contributing to the protocol. The quest creator (RabbitHole in this case) gets 10% of the reward amount on a per quest completion basis, aligning incentives between the quest creator and the Arbitrum DAO. For more context on how this works, you can learn more about our Quest Protocol Rewards.
This is a significantly large amount of incentives for Questing. Please can you clearly stipulate why you think this is a reasonable amount to distribute to questers who are arguably the most mercenary user group in DeFi.
Great question.
- We believe that quest platforms/protocols are better forms of airdrops because users can earn tokens in real-time for their on-chain activity which leads to less volatility in engagement. We think that the Arbitrum Community Gateway/Quest Protocol can be an excellent way for the Arbitrum community to distribute ARB to bootstrap new projects.
- You can check out the work that we did for the Optimism ecosystem here to see what got done with $150K. The highlights are as follows:
- 104K+ unique wallets
- 38K new wallets driven to Optimism
- Avg cost-per-quest-completion of $0.40
We think RabbitHole could make an even more significant impact to the Arbitrum community given the creation of the Arbitrum Community Gateway for exclusive quests on Arbitrum.
This is a very small list and you have cherry picked some of the largest only protocols. Arbitrum DAO would benefit more to see you choose a diverse list including more native offerings.
We’re happy to add more projects to the list that would benefit the ArbitrumDAO and the list is just a sample size of what we plan to support. Are there other projects in the ecosystem that you would like to see be supported?
Lastly, why should the DAO back this proposal over existing questing platforms? Galxe has contributed a lot to the Arbitrum Ecosystem and has been instrumental in recent campaigns, such as the Arbitrum Odyssey.
- Galxe is a great platform, but one of the drawbacks it that community members cannot run quests for Arbitrum and is dependent on the Foundation. If the Arbitrum DAO wants to be truly decentralized, it needs a quest protocol so anyone can deploy a quest with ARB tokens, rather than relying on the core team.
- With Quest Protocol, users can earn ARB for completing quests instantly, whereas with Galxe, it’s just NFTs with the hope of an airdrop. We think this will be a much more sustainable path for the DAO going forward, since the community will be able to measure their spend and results on an iterative basis (with anyone being able to apply for a grant and run quests because of Quest Protocol Rewards)
Happy to answer any other questions that you may have!