Proposal for Octant x Gitcoin QF Round

Hi all! We just dropped our application for the Public Goods Ecosystem Collaboration Proposal and we are excited at the possibility to collaborate on running a round for our shared communities.

I am including here an outline of our application for the community to see. I am happy to help with any questions or comments.

Thanks for your consideration!


1. Introduction and Background:
Gitcoin, a pioneer in supporting open-source projects and decentralized communities, proposes a strategic partnership with Octant to implement a Quadratic Funding (QF) round. This initiative targets teams funded by both Octant and Gitcoin, focusing on developer tooling and Web3 infrastructure projects from the recent GG20 round.

2. Problem Statement:
There is a need for sustained support of impactful projects in the web3 space. Many innovative projects struggle with ongoing funding and community support, hindering their development and impact.

3. Goals and Objectives:

  • Primary Goal: To foster innovation and growth in the web3 ecosystem by funding impactful projects.
  • Specific Objectives:
    • Support projects that have shown significant contributions to the web3 ecosystem.
    • Encourage community engagement and support through a matching funding mechanism.
    • Strengthen the collaboration between Octant and Gitcoin.

4. Project Plan:

  • Funding Overview:
    • Gitcoin will match 1 ETH for every 1 ETH contributed by Octant, up to 15 ETH.
  • QF Mechanism:
    • Description: Quadratic Funding democratizes financial support, empowering the community to back the projects they believe in. This approach emphasizes the importance of broad community support, making it a highly inclusive funding model.
      Implementation:** Run a QF round to select projects aligning with Octant and Gitcoin’s objectives, amplifying community contributions through a matching mechanism.
  • Project Selection:
    Criteria:** Projects must be previous Octant and Gitcoin grantees and focus on developer tooling and/or Web3 infrastructure.
    • Application Process: Transparent and detailed application process to ensure fairness in project selection.
  • Community Involvement:
    • Engagement: Encourage community participation in the funding process.
    • Voting: Community contributions will determine fund distribution using the quadratic funding formula.
  • Timeline and Milestones:
    • Detailed timeline for application, selection, funding distribution, and project reporting phases.

5. Budget and Financial Plan:

  • Total Matching Pool: Up to 15 ETH from Gitcoin, with Octant contributing at least 1 ETH for each matched ETH.
  • Breakdown of Funding Allocation:
    • QF matching pool distribution based on community voting and project impact.

6. Evaluation and Metrics:

  • Impact Measurement:
    • Number of projects supported.
    • Community engagement metrics.
    • Long-term benefits and sustainability of funded projects.
  • Criteria for Success:
    • Demonstrated community benefits and impact.
    • Achievement of project milestones.
    • Positive feedback from the community and stakeholders.

7. Sustainability and Future Plans:

  • Long-Term Viability:
    • Ongoing monitoring and support for funded projects.
    • Strategies for ensuring projects continue to deliver value to the community.
  • Future Collaboration:
    • Plans for future QF rounds and other collaborative initiatives between Octant and Gitcoin to further support the Web3 ecosystem.

Action Items:

  1. Approval: Seek Octant’s approval for the QF matching proposal.
  2. Planning: Collaboratively define the criteria, application process, and timeline.
  3. Execution: Launch the QF round with transparent management and oversight.