Across the Cryptoverse #37 - Community Integration Campaign 2.0

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Written by

#Club1BCH

3 months ago

Topics: Across, Ethereum, Across Protocol, $ACX, Cryptocurrency, ...

Over the last couple of months, the Across market share raised considerably on all available chains. Record volume was recorded from and to the Ethereum mainnet from Polygon, Optimism, Arbitrum, zkSync and Base.

The growth in bridged volume was fueled by low fees and fast transactions, direct perks for being secured by UMA's Optimistic Oracle. The OO made lowered the fees by removing the need for on-chain validation, which improves gas efficiency and lowers the bridging costs.

The OO verifies the cross-chain transactions optimistically, which improves capital efficiency and gets funds moving more quickly The higher level of security is achieved through the Oracle decentralized design that allows anyone to raise a transaction dispute. Many of the innovations that Across enjoys in the bridging space are results of the ingenuities that UMA has pioneered in the oracle space!

On top of fast transactions and low fees, Across users can earn $OP tokens when bridging to Optimism. How it works? Up to 95% of their bridge fee can be rebase into $OP tokens, from the 750,000 $OP Across will distribute to users when they bridge onto the L2.

With a 95% subsidy, the rewards will negate almost all of the bridging fees. Users effectively pay the remaining 5% plus the origin gas fee. Across already offers negligible gas fees due to its various engineering optimizations. This initiative will give users a way to access one of the ecosystem’s top L2s at an extremely lost cost. There has never been a better time to use Across.

Did you know that community members can help out with integrations and receive up to 16,500 ACX tokens? How is that possible? I created the snapshot called "Community Integration Campaign 2.0"

This proposal will transfer 100,000 ACX to the Community Essentials Committee multi-sig to be used as bounties to reward community members for getting protocols to integrate Across. If these funds aren't used by 06/01/2024 or the CEC is dissolved before then, remaining funds will be returned to the DAO.

Across is the most capital-efficient bridge, which we believe will help us win and gain further adoption in the long term. However, in the short term, we are experiencing a brand awareness deficit compared to our competitors in the space. By utilizing the expertise, bandwidth, and networks of the community to seek out partnerships and integrations in the L2 ecosystem, we aim to accomplish more connections, awareness, and integrations to tackle this opportunity more aggressively.

Funds will be managed by the Across CEC and distributed to community members upon completing a successful integration following the formula below. Participants should communicate their plans in advance to ensure their integrations will be worthwhile and beneficial to Across.

Integration types (and multipliers):
Technical: Across is integrated into another protocol’s UI as a bridging option for that protocol’s users. (2x)
Listing: Across is listed as a preferred bridging option on a resource page. (1x)
Media Impact (and multipliers):
For the purposes of this bounty, Media Impact will still be defined by the number of Twitter Followers another protocol has. The difference from the previous campaign is that the visibility will give a second multiplier.
Up to 99k followers: 1x
More than 100k followers: 1.5x

The value of each successful bounty will be calculated by this formula: Reward = 5,000 ACX * Integration multiplier * Media Impact multiplier * ACX Loyalty! The Across Loyalty bonus will be triggered by the rangers with ACX Holder role on Discord, receiving 1.1 multiplier on top of Integration Type and Visibility.

The new budget can cover more integrations, from 4 top ranked integrations to 15 standard integrations, with min. bounty at 5,000 ACX (5,000 x 1 x 1 x 1) and max. bounty at 16,500 ACX (5,000 x 2 x 1.5 x 1.1)

Any protocol that operates on Ethereum, Arbitrum, Optimism, Polygon, zkSync, or Base is eligible, but we’d like to really see an emphasis on protocols that either tap into new demographics for awareness or that could help drive direct volume through Across. We’ll maintain a list that includes preferred partnerships that we’d like to see, as well as partnerships that are already in progress.

It’s encouraged, but not mandatory, for the community member to double-check with the Across team in Discord before setting off to tackle an integration, in order to avoid spamming potential partners with integration requests. We want to see the community working together rather than competing for these bounties, so please be respectful if it appears that someone is already in active discussions with a potential partner.

Anyone may submit a completed bounty for evaluation in the Discord governance chat. The claim must demonstrate that the integration was the consequence of your actions (documented conversations, links to proposals, emails, etc.). Submissions will be reviewed on a community call (scheduled as needed), where anyone can object to their validity. If a consensus isn’t reached on the call, Risk Labs will be the decider.

The initial bounty program was created to mobilize the community without too many barriers to entry. Capping the program at 100,000 ACX was the method used to minimize the downside of this program, while also giving it a chance to succeed. The follow-up integration campaign was modified based on the community feedback, and a new bounty calculation formula was proposed.

The bounty calculation is a way to standardize the value of each integration, according to the potential amount of exposure it will give the protocol and the amount of work required for each integration type. The review of submissions on a community call will give the community the opportunity to discuss, show approval or dispute the claim.

As expected, the Community Integration Campaign 2.0 was passed quorum, with 1.6 million votes on top of what was needed. It was approved with 97.69% of the votes, and community members can now start working towards integrations.