{"signature": "0xcf0eeffc0cdd84da099436efc89da4e18815906b721e1051851963ed614fc5f731b9444838602ab4d679649560b4c1d1801f77068f342611c8a1a65645e19d4f1c", "application": {"round": "0xadd9b8cc34d9f36fa37cb9c6941e6209f4eea6c6", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "Jslf1KQQrbK9f9XUpI4+Mzec88sRlPRRG/+Dtvd43BeYDtboN11WTtbqg7zNkaZ8", "encryptedSymmetricKey": "2173cf8b8db900f97c5985efffed23c7346c1539196594388aeb42b69268f961cef3a6e6cd72c6da95a953fe8fafeb04a6662b9525e36ef696c05979e2ad052cef65b67f9e46b0e4cca9cae69c4e58dbab46537276b59171c41674ddce39c0b63f87d653ea1c9f6ecf166db988221c49ff3f4b295a6ea36f41662697f1814b6300000000000000206b1ddb43b192888a4eb2c396b2e80b910a82f0451871d895c202b4f5c381be11acbdc8bf4d43612a0110fba21c44b683"}}, {"type": "short-answer", "answer": "valueverse", "hidden": true, "question": "Telegram handle", "questionId": 1}, {"type": "link", "hidden": false, "question": "Karma profile (if available)", "questionId": 2}, {"type": "checkbox", "answer": ["Yes, I confirm"], "hidden": true, "question": "Have you read and confirmed that your project abides by the Program General Eligibility Policy https://tecommons.notion.site/Eligibility-Policy-7cf5ff8c323149cf84011712f070f009 ?", "questionId": 3}, {"type": "paragraph", "answer": "Projects and researchers are investing considerable time and effort into the so-called \u2018supply side\u2019\u2014the detailed token distribution process involving various allocations and incentive strategies. However, the token utility and its value-capturing abilities often receive less attention and effort. This is due to the lack of tools and standardized frameworks for systematic token design and evaluating the results. \n\nWe believe that value in decentralized networks arises from the coordination of participating agents (or network participants), and tokens simultaneously act as a coordinational tool and as assets that capture a share of network value. In our research group, we analyze tokens from a value-capturing perspective using three stages: Origins of Value (OoV), Value-Capturing Mechanisms (VCP), and Value-Capturing Implementation Patterns (VCIP). This framework was originally proposed by Vasily Sumanov, a token engineering practitioner, and recently won an award from the most influential community of token engineering professionals - the TE Academy.\n\nHere, we share some definitions to help you further understand our approach.\n\nOrigin of Value (OoV) - an elementary economic pattern, based on a system policy applied to a token, reflecting coordination value and token's value accrual. \n\nWe can refer to OoV as a \u201ckey\u201d capturing coordinational value from the system.\n\nValue-capturing mechanism (VCM)\u2014a particular economic mechanism composed of interacting origins of value, covering value capturing and coordination requirements. \n\nWe can refer to VCM as an economic mechanism that captures value and establishes agents\u2019 coordination simultaneously.\n\nValue-capturing implementation Pattern (VCIP) - the code implementation for the Value-Capturing Mechanism in the particular system/environment.\n\nOur long-term vision is to create a \u201cHealth Metrics\" for tokens in the Superchain ecosystem, starting from OP based on recognizing OoVs/VCMs and quantifying metrics related to value-capturing and token usage as on-chain data sets integrated in OSO. The next steps will be expanding Health Metrics to Celo and Base.\n\nHealth Metrics value proposition (qualitative) for OP/Superchain:\n1. A structured information of token designs used in the ecosystem, with value-capturing mechanisms and origin of value descriptions, allowing for tracking the performance of existing projects/tokens more precisely and making more intelligent decisions on token design for future projects.\n\n2. Transparent and quantitative token metrics methodology focused on the utility and value capturing of a particular token rather than general metrics (token price, number of holders, etc). This metric enriches other metrics already available in the OSO;\n\n3. A token health scoring system based on on-chain sets, quantifying Value-Capturing Mechanisms metrics. It will allow assessing ecosystem projects' progress based on the token usage according to built-in utility functions;\n\nHealth Metrics benefits (quantitative): \n1. We will analyze and provide a description of the economic structure of the token according to our methodology and build Origins of Value (OoVs) - Value Capture Mechanisms (VCMs) - Value Capture Implementation Patterns (VCIPs) maps for 5 projects jointly selected with OSO (the focus will be on the projects that are most relevant for the OP community and OSO users at current moment);\n\n2. On top of the results of delivering point 1, we will select two most relevant VCMs, build a metrics methodology for them, and will provide a detailed explanation in the form of articles/documentation of how metrics are calculated and the analysis/rationale behind;\n\n3. By application of the methodology and delivering a code (algorithms to retrieve on-chain data and process it accordingly) will provide an implementation of Health Metrics that can be applied to projects with the same VCMs and VCIPs (implementations). \n\nIt means that if we built the \u2018veToken Health Metrics\u2019, it can be applied to various projects with veToken design if they use a similar codebase (contracts architecture, for example, various forks of Curve veCRV model). The goal is to build 1 working Health Metrics implementation.\n\nHealth Metrics can be scaled to all other projects with similar token designs from VCM/VCIP perspectives.\n", "hidden": false, "question": "Vision Statement and Impact: Describe the long-term vision of your project and its intended impact on the Optimism and broader Superchain ecosystem, including both qualitative and quantitative benefits", "questionId": 4}, {"type": "paragraph", "answer": "The strategy abstract:\nWe partner with Open Source Observer (OSO) to develop customized value capture-focused Health Metrics to ease the process of analytically tracking ecosystem and/or token performance. We intend to apply our research and findings to improve projects that use OSO\u2019s tooling.\n\nParticular steps for the next 6 months:\nFirst, we plan to determine a list of projects together with OSO and provide a description for their token design structure + OoV-VCM-VCIP map.\n\nSecondly, we plan to select the most relevant VCMs and create a Health Metrics methodology for them, outline it as a forum post/article, and share it within the OSO and OP ecosystem community. Next, we plan to implement created methodologies as on-chain data streams with processing algorithms and integrate them with OSO data, enriching OSO metrics for particular projects. If there is an opportunity, we plan to scale this work to more VCMs to provide more projects with Health Metrics in the future.\n", "hidden": false, "question": "Initial Strategy: Outline a high-level strategy for how you will achieve your intended impact and key goals for the next 3-6 months", "questionId": 5}, {"type": "paragraph", "answer": "The project will develop Health Metrics to assess the evolution of tokens\u2019 value-capturing results over time. It is based on applying the Value-Capturing Mechanism approach, which describes the economic foundations of token design, to on-chain metrics of token usage.\n\nIt can also be described as token metrics valuation models integrated with OSO to empower projects with Optimism in building and maintaining robust cryptoeconomic systems.\n", "hidden": false, "question": "Integration Approach: Explain how the project applies token engineering within OP", "questionId": 6}, {"type": "dropdown", "answer": "Research", "hidden": false, "question": "Project category ", "questionId": 7}, {"type": "short-answer", "answer": "PoC", "hidden": false, "question": "Project stage: What stage do you consider your project is currently in? (F.e.: Plan, Proof of Concept (PoC), Minimum Viable Product (MVP), Fully integrated project)", "questionId": 8}, {"type": "paragraph", "answer": "Vasily Sumanov\nPh.D., Head of Research in the PowerPool protocol. Vasily is a researcher focused on the intersection of blockchain and economics.\n\nVasily's token engineering research focuses on value-creation and capturing processes in tokenized economic systems. It led to the creation of the original token classification framework, analyzing tokens' value origins and mechanisms of their manifestation. \n\nThis research was awarded by TE Academy Fellowship and was presented for TE Academy students as a special Value Captures Fundamentals track during the recent Study Season.\n\nArc \nHe is a finance graduate specializing in cryptocurrency and blockchain research. With a focus on tokenomics, token engineering, and complex crypto-economic systems, Arc\u2019s interest in the field ignited as a trader in late 2017. \n\nA strong advocate for decentralization, Arc\u2019s practical experience includes contributing to DeXterOnRadix, where they applied their knowledge to reputation systems, governance structures, and tokenomics design. Alongside Tiago, he completed a VCM application on Bittensor, which ended up becoming one of the first public applications of the theory for classifying tokens.\n\nTiago Santana\nHe is a Web3 researcher and token engineer since 2021. With past formal studies in mechanical engineering and business economics, he is a graduate student of Token Engineering Fundamentals and of several tracks from the first Token Engineering Study Season Track. \n\nIn his Web3 experience, he has collaborated with LayerX and today with Inverter Network with a focus on designing and modeling token economies as well as blockchain analytics. Simultaneously, he is a study group host of web3-native related skills on Ninit Discord server, a web3 educational hub. \n\nAt the time of the writing, he is also enrolled in the ReFi Talents program. Alongside Arc, he completed a VCM application on Bittensor, which ended up becoming one of the first public applications of the theory for classifying tokens.\n\nJean-Luc Desmarais\nDoctoral student in mathematics (numerical analysis). Technical researcher focusing on the ways to leverage extant tools of discrete mathematics in token engineering research. Co-authored the Token Classification paper.\n\n", "hidden": false, "question": "Team Expertise: Provide a brief summary on the team\u2019s background and relevant expertise in token engineering and/or OP", "questionId": 9}, {"type": "paragraph", "answer": "The academic paper describing the Value Capturing Framework\nhttps://docs.google.com/document/d/1wyd62aFZiaMSEsu3tOXg8zR7x2ThKnMV/edit\n\nBittensor Research Document\nhttps://app.publed.io/explore/research/193/read\n\n\nBlog Posts\n1. Intro the VCM Framework\nhttps://mirror.xyz/valuecapturing.eth/BtAL-44nnAARUWscnTAz20uzDV9jIb-_h3OZ0_kgHL4\n\n2. Analysis of the Value-Capturing structure of TAO\nhttps://mirror.xyz/valuecapturing.eth/WRQyFVkwF6BHQsoyVgg3492xJGImh4uO4ObqKwjfTTk\n", "hidden": false, "question": "Existing Work: Provide evidence of any existing work, such as prototypes, research papers, or previous projects. If you have already done work within OP/ Superchain, please include that here too", "questionId": 10}, {"type": "paragraph", "answer": "Vasily was awarded the TE Fellowship Prize from TE Academy for the Value Capturing Framework research.\n", "hidden": false, "question": "Returning grantees: If your project has received prior funding from the Token Engineering Grants Program, please describe the impact that funding has had on the project", "questionId": 11}, {"type": "checkbox", "answer": ["I agree"], "hidden": false, "question": "Agreement checkbox: By checking this box, grantee commits to participating in the two milestones outlined below (exact dates will be communicated after your admission to the round): September: Milestone 1 requires completion of a grant profile in Grantee Accountability Protocol (GAP). The profile outlines the specific outcomes to be achieved by Milestone 2.  October: Milestone 2 requires a progress report on the grantee's progress towards achieving the outcomes agreed to in Milestone 1. ", "questionId": 12}, {"type": "paragraph", "answer": "We have not applied to any other funding rounds, but we plan to apply to additional funding rounds to scale our work.", "hidden": false, "question": "Have you applied or are planning to apply for additional funding rounds within the Optimism ecosystem? https://sovs.notion.site/d24bc00e3ed14139beb44b82a5e145c5?v=50ae5a8b531641e0b78f39a710f3ffa6", "questionId": 13}, {"type": "short-answer", "answer": "Friends from TE Community", "hidden": true, "question": "How did you hear about the Token Engineering Grants Program?", "questionId": 14}, {"type": "paragraph", "hidden": false, "question": "Anything else you'd like to share about your project, previous work, or other project affiliations? Anything you'd like to add that has not been covered?", "questionId": 15}], "project": {"id": "0x55e6dfe1eeff11cb0949d37131689fbaaaa12a8c1a976122b3cffbe0e15a1803", "title": "Valueverse Labs", "logoImg": "bafkreidh533xj2rwvfoczsj73uvdlbfbi5fdyjmn2ut6e3saf6f4ye6yjm", "metaPtr": {"pointer": "bafkreigpjiu356w5am5vbctcm56cnmn5vh46yiprmpedkzamsuj5gx2eiq", "protocol": "undefined"}, "website": "https://valueverse.org", "bannerImg": "bafkreibg3c6om6ik6phglkslhx3gt2ciqcpow4vthbgxzcuztdevovczcy", "createdAt": 1722612496956, "userGithub": "valueverse", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..iid9TwcKkIsZDqjnoK9gn8z9hmBpCHboLi_qNtCp-vBULAVEUvOg9-FKz-SMiiSF59WUNbtO7vEGYtOLxTyuBQ", "type": "Ed25519Signature2018", "created": "2024-08-02T15:32:58.382Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-02T15:32:58.382Z", "expirationDate": "2024-10-31T15:32:58.382Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x19839EB6415654B7f902Aa38F8346D3015ffB679", "hash": "v0.0.0:6INb0Rms7tMHUYLdo2mAohEAsvBrjdolabaMlO/dVK4=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#valueverselab"}}}, "description": "Valueverse develops the  \u201cHealth Metrics'' for tokens in the Superchain ecosystem, starting from Optimism.\n\nThe Health Metric is a quantitative scoring of token value-capturing abilities and utilization provided as a public good for the ecosystem.\n\nThe Health Metrics that we develop are based on the following:\n\n1. Structured information on set of token designs used in the ecosystem and their value-capturing structures;\n\n2. An original methodology for on-chain data processing and scoring calculation. It will be created on top value-capturing analysis and provide additional information complementing rather general token metrics;\n\n3. Quantitative scoring tool built on top of on-chain data, related to the token and available in Open Source Observer as a public good;\n", "lastUpdated": 0, "projectGithub": "valueverse", "projectTwitter": "valueverselab"}, "recipient": "0x19839EB6415654B7f902Aa38F8346D3015ffB679"}}