Introduction
We are thrilled to announce the next round of the Octant Community Fund, continuing the program that successfully concluded its first round earlier this year. The upcoming round will introduce an open nomination process for anyone interested in joining the Grants Council, feature a significantly increased grant pool, and incorporate improvements based on feedback from the initial round.
Our objective is to build on the successes and lessons learned to create a more impactful and efficient process for everyone involved.
What is the purpose of this grants council and round?
The Grants Council is responsible for reviewing applications and making decisions on the distribution of funds. Its primary goal is to ensure that the grants are allocated to initiatives that align with Octant’s mission and contribute to the growth of the ecosystem. By joining the council, members will have the opportunity to play a key role in shaping the direction of Octant.
Who are we looking for?
We are looking for individuals with active involvement in Web3 communities, technical understanding, & clear communication abilities. Bonus points if you have previous experience in working with grants, and/or project management skills. Additionally, candidates should have alignment with Octant’s mission, and innovative thinking to bring creative solutions to the Grants Council.
Grants Council Operations
- Open Nominations: We will hold an open process for up to 8 seats on the Grants Council. The Octant core team will oversee the nomination process.
- Participation: Applicants will submit their pitches and stories to the Octant governance board, after which the core team will select the 8 members.
- Compensation: ~ 1800 USD (paid in $GLM) per seat, to be disbursed in tranches as work is completed.
- Time Commitment: ~ 20-24 hours of work total
Member Responsibilities
If you are interested in joining the next Octant Grants Council, the information below outlines the basic requirements.
- Proposal Management & Review
- Reviewing Applications: Council members are responsible for reviewing all assigned project proposals, applying an evaluation rubric to ensure alignment with Octant’s goals.
- Providing Feedback: After proposal reviews, council members must provide their working group (and possibly the council) with constructive feedback.
- Time Commitment
- Mandatory Calls: Members are required to attend calls to ensure alignment and collective decision-making. These will be respectful of everyones schedule, but each participant should be able to find a way to make the group calls work.
- Proposal Review Period: Members are expected to dedicate weekly hours to reviewing proposals, ensuring that deadlines are met.
- Estimated Time: The overall time commitment is estimated at 20-24 hours total, including calls and proposal review.
- Task Distribution
- Working Groups: Council members will be assigned to specialized working groups (e.g., marketing, GLM locking initiatives, public goods collaboration), ensuring even task distribution.
- Collaborative Efforts: Members are expected to collaborate across groups to ensure a holistic review process.
How Can I Apply?
To apply for a seat on the Octant Grants Council, follow these steps:
- Prepare Your Submission: Start by crafting a detailed proposal explaining why you’re the right fit for the council. Your submission should highlight your past contributions to public goods or decentralized projects, relevant experience within the Web3 ecosystem, and your vision for how Octant can grow and succeed. If you have experience reviewing grants or working with decentralized governance, make sure to emphasize that.
- Submit to the Governance Board: Once your proposal is ready, submit your nomination to the Octant gov forum post below. When nominating yourself, highlight your background to demonstrate why you would be a valuable addition to the group. You should highlight things like your relevant experience, such as any work you’ve done evaluating grants or contributions in the Web3 ecosystem. If you’re an active community participant, mention specific ways you’ve contributed to other decentralized ecosystems. Lastly, share your unique perspective, describing what insights or skills you bring that could benefit the governance process.
- Core Team Selection: The Octant core team will review all submissions and select up to 8 new members for the Grants Council. Selections will be based on merit, vision, and past contributions to ensure the council has diverse perspectives. Applicants will be notified individually once a decision has been reached.
- Due Date: Submissions must be in no later than 4 October 2024.
What Happens If I Am Selected?
If selected to join the Octant Grants Council, you will be onboarded shortly after the announcement. The core team will provide a detailed overview of the grants process, including responsibilities, expectations, and timelines. You’ll receive guidance on how to review proposals, evaluate projects, and collaborate with other council members. Regular meetings and communication channels will be established to ensure you’re fully integrated into the council’s operations. Additionally, any necessary tools or documentation will be provided to help you get up to speed and contribute effectively from day one.
Closing Summary
We are really excited about the upcoming round and for community members to actively shape the future of the Octant ecosystem. By joining the Grants Council, you’ll play a key role in evaluating innovative projects and driving the distribution of funds to initiatives that will help us grow. With a clear application process, improved structure, and increased grant pool, this round offers even more potential to make a meaningful impact. We encourage everyone interested to apply and help us build a stronger, more engaged community.