What Would Ideal Community-Led Governance for Octant Look Like?

Efforts to fund projects in this blue range would have a nice symbiotic effect for Octant and those projects.

  • These projects are established but haven’t “made it” yet, so a funding round has a real chance to get them what they need to get to that level.
  • These projects have established (albeit small) communities that could help spread the word about Octant. With enough of those projects in a funding round, we catalyze a large number of passionate people from disparate groups to share what Octant is doing in a way that funding the Protocol Guild or Gitcoin doesn’t.

In terms of the DAO, one thing to consider: GLM’s market cap is $236M, so to get a majority of votes you need $118M (ignoring that you can’t fill an order that large and expect that price throughout, but this is just a thought exercise). However the 100,000 ETH potentially at stake is worth $220M, making a governance attack quite appealing. We wouldn’t want the DAO set up in such a way that this is possible.

I like the idea of staked GLM or even the proportional share of staked GLM that was used to fund public goods getting voting power (e.g. if I have 2000 GLM, and I stake 1000 and then donate 75% of my rewards and keep 25% for myself, my voting power is effectively 750 GLM).

On how we can incentivize meaningful participation in governance, there are a lot of more involved mechanisms we could use, but one piece of low hanging fruit is a POAP.