The greater good needs more funding, and the power of blockchain connects philanthropists and their would-be donors faster than ever. However, lack of oversight, under-developed distribution infrastructures leading to struggles with allocation, and lack of consistent, clear incentives for benefactors all plague the social good space.
Enter Octant, an app that allows users to give and gain more from their involvement in funding social goods.
Developed in 2023, The Octant App is an ecosystem and mobile application built on the Ethereum blockchain that utilizes its own native token to have community members invest in and uplift projects requesting sponsorship for further development.
2 Ways To Give and Get Back:
Epochs
Through an on-chain mechanism called staking ( a proof-of-stake protocol, that allows investors of a token to validate transactions within a specific blockchain database. For doing so, they are typically rewarded with more tokens), members of the Octant community are given 90-day cycles called "epochs" in which they are allowed to vote on web3 social goods projects that will be funded by their donations alongside a matching donation from The Golem Foundation. Those who wish to donate must lock at least 100 GLM tokens, and at the end of the 90-day cycle may collect their accumulated rewards and either support a whitelisted project on the app or withdraw their funds altogether.
The funding process is as follows below:
1.) Every 90 days, an Epoch will begin featuring a range of public good projects that will be chosen by the Octant community in collaboration with the Golem Foundation.
2.) Users can participate by locking a minimum of 100 GLM tokens. In the next Epoch, you'll receive ETH rewards based on a weighted average.
3.) At the end of each Epoch, rewards can then be withdrawn or donated to projects. Octant will match donations, multiplying their impact
Octant V2
Spreading the wealth through Octant doesn't stop at the epochs, however. Now with Octant V2 due to launch in March, users can take their passion for public goods and the principles of Octants' mission and apply them more holistically to their chosen communities. With Octant V2, Donors and Community Members have more creative control in their own fundraising strategies from
deciding their token types to even designing the UI for their front-facing funding campaigns within the app. The introduction of Octants' sustainability pool further ensures that the benefits of being supported by a funding platform are there for future projects and communities who might seek to grow their capital on-chain and possibly even store their treasuries with a trusted collaborative entity such as Octant.
Octant V2s' new features will include:
1.) The ability to use Octant app infrastructure to establish their own fundraising channel to support projects and goals centric to their interests
2.) The ability to decide on token type, UI, and other customizable elements to creatively control the face and marketing around their raise.
3.) A sustainability pool that ensures future public goods funding is available for all who seek it, because giving is just as important as receiving, and doing social good is a group project, after all.
Become a donor or join your first epoch now:
To join the public goods wave and put your tokens where your heart is, or to join the next epoch and promote your project to Octants' donor community, sign up at www.octant.app and create an account today.
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