OP Horizon is now live!

deBridge

Oct 26, 2023 • 4 min read

What is deBridge OP Horizon?
OP Horizon is an initiative for users and projects in the deBridge ecosystem distributing the 100,000 OP grant received by deBridge.

100K OP worth of rewards will be distributed among projects/dApps that have integrated with (1) DLN API or DLN Widget and (2) Users of DLN Trade and deSwap. The grant is distributed based on the fees that users pay while doing cross-chain trading or value transfer.
Detailed stats on the performed OP distribution are published bi-weekly in this spreadsheet

The initiative will last until the 100,000 OP tokens have been distributed as rewards for all cross-chain trading and value transfers made to/from Optimism.

The initiative starts on October 26 at 1600 UTC with the following participants:

Any projects and dApps are welcome to integrate with DLN to join the campaign to receive OP incentives distributed among their users.

How does it work? A step-by-step guide
Every time you trade or do a value transfer to/from Optimism via one of deBridge’s ecosystem partners or via DLN/deSwap, you will receive a fee rebate based on the activity that you performed. The 100,000 OP are allocated on a first-come-first-served basis (FCFS) until the entire grant has been distributed to users and projects in the deBridge ecosystem.

Any cross-chain trade has the following costs paid by users:

Gas costs to initiate intent/trade
DLN fees: fixed fee + 4bps variable fee

Spread of the trade that consists of:

Market maker operating expenses (including gas)
Market maker incentive

Trades TO Optimism: If you make a value transfer/bridge to Optimism, you will receive the entire DLN fee amount as an OP rebate. For instance: if your cost was $3 to move from Polygon to Optimism (in total including variable (4bps) and fixed fee), you will receive $3 worth of fee rebates in OP. It’s important to note that transaction fees (gas costs) for both users and takers will be rebated in full in OP tokens as well. Also, the spread is reduced by 4 bps of the market maker incentive as market makers are incentivized in OP tokens from the grant. To verify the exact amount of fees to be rebated, hover the mouse over the "Fees Rebate" badge:

Trades FROM Optimism: If you move out from Optimism, the fee rebate will be half of the overall onboarding fee (including variable fee (2bps) and fixed fee) that was paid. For example: If the overall cost was $2 to move from Optimism to Polygon, you will receive $1 in OP as a fee rebate on the source chain (Optimism).

Half of the cost components will be rebated when moving out from Optimism.

Takers who fulfill orders on the destination chain will also receive fee rebates in OP tokens. For takers that fulfill orders to Optimism, they will receive the 4 bps (taker reward) in OP tokens.

Note on gas rebates: We have included a limitation that gas costs should not exceed 5% of the market trade value for users to be eligible for a gas rebate.

Market maker operating expenses should not exceed 5% of the market trade value.

By incentivizing takers as well, we provide an improved user experience as takers will provide a tighter spread as they are incentivized in OP instead of charging a spread.

How can I receive my fee rebate?
You don’t have to do anything. The fee rebate will be distributed automatically to all eligible wallets on a bi-weekly basis. If you’re eligible, you will receive the rebate to your Optimism wallet that initiated or received the trade – easy and seamless.

For more details on the grant structure, please read our proposal here.

FAQs

Q: What is deBridge OP Horizon?
A: It’s a campaign to distribute OP fee rebates to our deBridge ecosystem from our grant that we received from OP Labs – the main contributor to the Optimism ecosystem.

Q: How is the distribution taking place?
A: We will automatically distribute the fee rebate on a bi-weekly basis to all eligible participants. There’s no need to claim manually. You will get the rebate automatically in your eligible wallet. Refer to this sheet for more information.

Q: How are the fee rewards calculated?
A: The fee rebates are calculated based on the underlying bridge costs associated with the transfer.

Example: For a $200 transaction from Arbiturm to Optimism: If you paid $2 in onboarding fees – including (1) and (2) from the fee reward calculation above – you will get $2 worth of fee rebates in OP. Users also get the best market rates as market makers provide a reduced spread while being incentivized in OP tokens.

Q: Are transfers out from Optimism included?
A: Yes, they are, but here we cover 50% of the total costs included.

Q: Is there a maximum cap of rebates that I can receive?
A: No, there is no maximum cap for users. The fee rebate is solely based on the total onboarding fees for the transaction.

Q: How long does this last?
A: The fee rebate period lasts until we have distributed the entire grant to users and projects in the deBridge ecosystem.

Q: How can I get support?
If you have any questions, please open a ticket in our Discord so we can help you out.

About deBridge
deBridge is the infrastructure for high performance interoperability. By removing the bottlenecks and risks of liquidity pools, deBridge enables DeFi applications to scale faster with ultra capital-efficient and deep liquidity transfers across chains.

Get started with deBridge and DLN today. Learn more about deBridge and DLN and how to build with us:

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