We recently were one of the selected grantees for Octant’s Community Fund, for our Public Goods FlyWheel growth campaign. We wanted to get our proposal up here in hopes of some cross-pollution and experimentation.
TLDR;
We are creating a Public Goods Flywheel, by ensuring that GLM gets into the hands of regenerative and public goods-minded individuals so that more people stake and use Octant.
A more in depth look:
Octant is an app that looks to fund various public goods projects using democratic and community led voting systems. Unlike many other projects, Octant has a reliable funding supply, but needs to have a larger public reach, with more engaged GLM holders in order to grow and scale its user base. Our marketing and growth campaign pulls inspiration from Octants self nomination system for projects looking to receive funding via their app, but instead looks to reward high quality individuals interested in supporting public goods.
In a play on a retro citizens round, people will be able to nominate themselves or nominate others in a series of call to actions that require people to post and engage in the Octant farcaster channel. This will include needing to quote tweet and answer a weekly prompt. These prompts will not only serve as a means of selecting those who will receive GLM, but these prompts will also help highlight and teach people about Octant works and how to get involved.
The final weeks prompt is ‘proof of stake’ where participants will stake their GLM in Octant and be entered into a contest to win a larger pool of GLM tokens.
Our end goal is to create a Public Goods Flywheel, by ensuring that GLM gets into the hands of regenerative and public goods-minded individuals so that more people stake and use Octant.
We’re also going to be running a raffle with the first iteration of this raffle being largely driven from folks who are locking new GLM. I see this idea you are sharing as very complimentary. I’d love to keep this forum post updated with new information as the program progresses
Here is our retrospective on the campaign!
Over the summer, we launched a campaign with two main objectives: 1) to increase awareness of Octant, particularly within the Farcaster ecosystem, and 2) to distribute GLM to new community members. We achieved this by hosting weekly contests on Farcaster, where thoughtful responses were selected to receive GLM each week, with distributions made directly through the platform. For the final week, we organized a proof-of-stake raffle, encouraging all Octant users to participate.
We believe the campaign was successful on both fronts, with particular success in the latter. In alignment with the principle of “show, don’t tell,” we are pleased to share the following data points:
In 6 weeks:
We grew the Octant channel from 140 to 418 followers, and the account from 3.3K to 3.5K followers.
We were featured in the Boys Club newsletter, which has 10,000 subscribers
Our contests garnered 130 entries, with approximately half being unique participants and reached over 3.9k views in a single post.
50 individuals demonstrated proof of GLM stake for the raffle.
Most notably:
Of the winners who received GLM, 74% locked their GLM, and 84% kept their GLM.
These metrics reflect meaningful net new user participation and GLM/Octant app engagement via staking. They also reflect the potential for this campaign to be repeated and scaled, generating a net positive outcome both for Octant awareness, GLM distribution and staking GLM inside the Octant app.
Well done to both you and @lanzdingz !! Thanks for this retro, I’ll be sharing with the team today. Were there any learnings that you feel might be able to improve similar initiatives in the future?
Definitely. We did notice some difficulty in breaking out of the regen bubble. In future iterations, we would like to explore ways to improve by pushing harder on external channels and experimenting with different ecosystems and apps (e.g., Lens).
The posts that were more successful in terms of the number of entries leaned towards fun, get-to-know-you themes rather than educational content, though both served a purpose.
We also believe that market sentiment (ie. summer doldrums)—had an effect on engagement and are curious how the same model would perform if applied to a different market environment.
