Proposal for Developer Funding on Metal L2

Submitted by: Paul Grey
On behalf of: Developers on Metal L2

1. Executive Summary

This proposal seeks funding from the Metal DAO to enhance the development ecosystem on Metal L2, recognized as "The Banking Layer" on the Optimism Superchain. The requested funds will support essential developer tools, a governance portal, hackathon initiatives, bug bounties, and other miscellaneous developer needs. By investing in these areas, Metal L2 will attract top-tier projects and developers, fostering innovation and strengthening its position within the blockchain ecosystem.

2. Background

Metal L2 operates as a pivotal layer within the Optimism Superchain, providing robust financial infrastructure and scalability solutions. As the backbone for decentralized banking applications, Metal L2 is poised to become a hub for innovative projects. To maintain and accelerate this trajectory, a well-supported developer ecosystem is crucial.

3. Purpose of the Proposal

The primary objective of this proposal is to secure funding to:

• Acquire industry-standard development tools.

• Establish and maintain a governance portal.

• Organize and support hackathons.

• Implement a bug bounty program.

• Address miscellaneous developer requirements based on community needs.

4. Detailed Funding Request

Thirdweb

Gold Package: Includes account abstraction, a full gaming plugin suite, and comprehensive dev tools. Essential for streamlining development processes and ensuring high-quality project deployments.

40,000 MTL

Agora

Maintenance of the governance dashboard natively on Metal L2, ensuring seamless and secure governance operations.

15,000 MTL

Hackathon Funds

Organizing and incentivizing hackathons to stimulate innovation, attract talent, and generate cutting-edge projects on Metal L2.

60,000 MTL

Bug Bounties

Establishing a robust bug bounty program to identify and rectify vulnerabilities, enhancing the platform's security and reliability.

30,000 MTL

Misc Developer Needs

Addressing various developer requirements as identified by the community, managed by the Core Dev team to ensure flexibility and responsiveness.

55,000 MTL

Total: 200,000 MTL

5. Rationale and Benefits

5.1 Metal L2: The Banking Layer on Optimism Superchain

Metal L2 serves as a critical financial layer within the Optimism Superchain, offering scalability, security, and efficiency for decentralized banking applications that need a compliant fiat onramp. By positioning itself as "The Banking Layer," Metal L2 attracts projects that require robust financial infrastructure, thereby driving adoption and network effects.

5.2 Attracting Projects and Developers

Investing in essential developer tools and infrastructure lowers the barrier to entry for new projects, making Metal L2 an attractive platform for developers. Enhanced tools and resources lead to higher quality projects, increased innovation, and a vibrant developer community.

5.3 Advantages of Using Thirdweb

Thirdweb is an industry-standard platform widely recognized for its comprehensive suite of development tools. Its Gold Package offers:

• Account Abstraction: Simplifies user interactions and enhances security.

• Gaming Plugin Suite: Facilitates the creation of engaging and scalable gaming applications.

• Comprehensive Dev Tools: Streamlines development workflows, reduces time-to-market, and ensures best practices.

• Thidweb Pay: Integration with the bridging, dex aggregator and onramp platform.

Thirdweb's prevalence in hackathons and its robust support system make it an invaluable asset for Metal L2 developers, fostering a standardized and efficient development environment.

5.4 Additional Benefits

• Governance Portal (Agora): Ensures transparent and effective governance, empowering the community to participate actively in decision-making processes.

• Hackathon Funds: Encourage innovation and attract top talent by providing incentives for creative solutions and groundbreaking projects.

• Bug Bounties: Enhance platform security, build trust among users, and demonstrate a commitment to maintaining high standards of reliability.

• Misc Developer Needs: Flexibility to address evolving developer requirements ensures that Metal L2 remains responsive and adaptive to community needs.

6. Conclusion and Call to Action

Securing a total of 200,000 MTL will significantly bolster the development ecosystem on Metal L2, positioning it as a premier platform within the Optimism Superchain. The proposed funding will enable the acquisition of essential tools, support governance and security initiatives, and foster a dynamic and innovative developer community.

I urge the Metal DAO to approve this proposal, recognizing the long-term benefits of investing in the foundational elements that drive Metal L2's growth and success.

Submitted by:
Paul Grey
Developer Representative, Metal L2