Obol’s First Retroactive Funding Round (RAF1)

1M OBOL Tokens to Reward Public Goods

The wait is over - Obol’s first Retroactive Funding Round (RAF1) is here! This marks a milestone moment for the Obol Collective, beginning to reward projects which strengthen and promote the Obol Collective’s Decentralized Operator Ecosystem and its ability to scale decentralized infrastructure networks like Ethereum. The funding is designed to reward tangible impact while creating strong incentives for sustained innovation and collaboration by the community.

For this first round, the Obol Collective is providing 1M OBOL Tokens to reward public goods. We decided to distribute OBOL tokens in order to further decentralize ownership in the Obol Collective, and align contributors with its long-term success.

Defining Public Goods

Public goods are the backbone of equitable and resilient ecosystems. They provide universal access and benefit for all, without diminishing availability through individual use. One framework for thinking about public goods is characterizing them as non-excludable, and non-rivalrous.

Vitalik Buterin defines public goods as resources which deliver widespread societal value, without reliance on revenue-generating or exclusionary models. In the Ethereum ecosystem, examples could include open-source code, unrestricted protocols, and educational tools that expand accessibility, enhance security, and drive decentralization. While these resources are indispensable for blockchain development, they often lack financial support due to their lack of traditional funding mechanisms.

Public Goods for the Obol Collective

The Obol Collective champions the retroactive funding model as a mechanism for supporting public goods within decentralized ecosystems like Ethereum. By offering ex-post rewards grounded in measurable impact, the Collective empowers builders to pursue high-risk, high-reward projects that drive meaningful advancements within the Obol Collective’s Decentralized Operator Ecosystem. The formula is simple yet powerful: “Proven Impact = Rewards”. This principle, pioneered by Optimism, fosters a meritocratic and accountable funding environment, where resources are directed to initiatives that have demonstrably advanced accessibility, security, or decentralization.

Through this approach, the Obol Collective not only addresses the financial sustainability challenges of pure public goods but also builds a foundation for the widespread adoption of Obol Collective’s Decentralized Operator Ecosystem, driving long-term resilience and equitable growth.

Eligibility Criteria

Any project can apply for retroactive funding. Their ecosystem impact and value-add will be assessed via voting by the community of delegates.

Projects are considered eligible for funding if they have:

• Developed or improved open-source tools, protocols, applications, educational resources, or any other initiative that increases the awareness of, participation in, and value of the Obol Collective’s Decentralized Operator Ecosystem.
• Submitted an application on the RAF app before February 10th, 2025 00:00 UTC
• Complied with application rules.
• Confirmed that the project’s associated individual or business entity complies with Obol Association KYC requirements and does not reside in a sanctioned country

What impact will be rewarded?

The Obol Collective has implemented impact metrics-based evaluation to ensure more informed decision-making during funding rounds. These metrics aim to provide delegates with objective data to assess the impact of each project, enabling them to allocate their votes effectively and in alignment with the Collective’s mission.

• For projects or individuals that increased accessibility, participation, or value within the Obol Decentralized Operator ecosystem, impact metrics include:
  • Staked assets: An increase in staked ETH using the project’s tools or services. (Either running on distributed validators, or more generally.) 
  • User growth: Number of new users using the project’s tools or services (e.g. stakers or operators).
• For projects or individuals who contributed to the development or improvement of open-source tools, protocols, or systems, their impact metrics include:
  • Number of users or downloads of the software
  • Number of distributed validators leveraging the software
  • Number of lines of code or pull requests merged into relevant repositories.
  • Number of bugs fixed, features implemented, or technical improvements made.

Process and timeline overview

Overall process

To get involved in RAF1, visit raf.obol.org, click Apply, complete and submit the form. Once submitted, the Obol Association will conduct a preliminary review to ensure projects comply with the Eligibility Criteria outlined above. Ultimately, the responsibility for allocating votes and determining funding distribution, through quadratic funding, lies with the Delegates, who will evaluate each project’s impact on the Obol Collective.

Timeline

Please note that all dates are tentative and subject to change. This post will be updated if there are any future changes. You can also follow us on X for the latest info.

• Sign up: Feb 2nd - Feb 10th 00:00 UTC.
• Application Review Process: Feb 6th - Feb 9th 23:59 UTC.
• Voting & Feedback: Feb 10th - Feb 17th 00:00 UTC.
• Announcing Results and feedback gathered from the Community: Feb 21st 00:00 UTC.
• KYC & Grant Delivery: End of March.

Future rounds

The Obol Collective will shape future funding rounds based on evolving protocol development and the measurable impact of contributors. Both eligibility criteria and funding allocation sizes may be adjusted to better reflect the needs of the ecosystem and the goal of strengthening and promoting the Decentralized Operator Ecosystem.

While specifics for future rounds remain flexible, the process will continue to prioritize transparency, fairness, and alignment with the Collective’s mission.

More about RAF1

Stay tuned for more details about RAF on our forum and X profile, where we’ll share updates on the process, timelines, and everything you need to know. If you have questions, feel free to contact the Governance Administrator.