Improving Our Grants Processes
Hey Octant fam!!
We just hit our one year anniversary, having just concluded our forth funding round. As we continue to evolve, it’s important for us to align Octant’s processes and mechanisms with our values and mission. We’ve recently taken a closer look at how we can improve the way we measure and present the success of the projects we support, and we want to share our intentions and upcoming changes with you.
Understanding Octant’s Impact
One of our core goals is to ensure that Octant is not just a platform for funding public goods but also a space where the impact of these projects is clearly visible and easily understood. We want to make sure that the projects you choose to support when you donate your Octant rewards are making a tangible difference, and that this difference is communicated effectively. To do this, we’ve focused on two key areas:
- Clearer Reporting Requirements: Based on feedback conducted in a recent survey, we’re refining how projects report their progress and outcomes. This will help us, and participating projects, track the effectiveness and impact of their work more accurately.
- Better User Support: We want to provide you with the tools and information you need to make informed decisions. By improving what’s displayed in the Octant app, we’re aiming to make your experience smoother and more transparent.
Changes to Reporting Requirements
From our recent survey, we’ve gathered valuable insights into what you care most about when it comes to the projects on Octant. Here’s what we learned:
- Highest Importance: Potential Impact and Previous Impact of projects are what you value the most. These metrics are critical in helping you decide where to allocate your support, so we’ll be making sure these are prominently displayed when you first look at projects.
- Medium Importance: Details like the team’s background, how funds are being used, and development activity are also important. These will be available on each project’s page within Octant, giving you the context you need without overwhelming the initial decision-making process.
- Lower Importance: Metrics like sustainability plans, community support, governance structures, and user testimonials were ranked lower. These will still be available but might be housed in more specialized sections, or through tools like KarmaGap for those who want to dive deeper.
Based upon these results, we will be looking to implement many of these these features into the Octant app over the coming epochs.
We have already implemented some changes for projects that have received funding previously. Please scroll down through this page and be sure to check the template that corresponds to your project here: Octant Docs
Why These Changes Matter
By focusing on what’s most important, we can ensure that the projects funded through Octant are impactful and aligned with the values of our community.
- For Recently Funded Projects: Reporting requirements will start light, focusing on early outputs. As projects progress, their reporting will shift to include more detailed outcomes and impact assessments.
- For Long-Running Projects: Those that have received funding before the most recent round, they will have stricter reporting requirements, focusing on not just outputs, but the outcomes of those outputs. This ensures that projects are not only delivering on their promises but are also growing and evolving in ways that benefit the broader community.
Your Opinion Matters
We’re committed to making Octant a platform where your voice matters. We’re listening closely in how you think we can improve Octant. Through surveys, direct 1 on 1’s, and consistent discussion on our governance board, we’re very confident that Octant has a bright future because of your feedback. These changes are just the beginning, and we’re really excited to continue building with you!
Thank you for being an integral part of this journey.
Warm regards,
The Octant Team