Gitcoin is partnering with Octant to launch a Quadratic Funding (QF) round this September 2024, aimed at empowering community-driven projects. This collaboration brings together two like-minded platforms committed to decentralizing funding and supporting public goods. The round will feature a matching pool of up to 10 ETH, with funds allocated based on community voting.
What sets Octant apart is its innovative approach to decentralizing funding decisions through its epoch-based rounds. Every 90 days, the community decides which projects receive funding, ensuring that resources are allocated to initiatives that bring the most value to the ecosystem.
Beyond its unique funding model, Octant is underpinned by a robust governance framework and a clear mission to support the growth of web3 by empowering communities by directing staking rewards into the development of public goods. By staking a substantial amount of ETH (over 100,000 ETH), Octant directs staking rewards into funding public goods—an approach that not only sustains the ecosystem but also amplifies the impact of each project funded. With over 40 projects funded in just a year, Octant has already directed the equivalent of over 1,150 ETH towards initiatives that push the boundaries of what’s possible in web3.
This Quadratic Funding (QF) round marks a significant collaboration between Octant and Gitcoin, bringing together two ecosystems dedicated to the growth and sustainability of public goods. Gitcoin's QF mechanism aligns seamlessly with Octant’s mission, as it democratizes financial support and empowers communities to decide how funds should be allocated. This partnership is uniting two ecosystems that are deeply committed to sustaining and growing the web3 space, and funding public goods.
Mashal Waqar, Marketing Lead at Octant, captures the essence of this partnership: "Collaborating with Gitcoin, a platform we've admired for its impact on public goods, felt like a natural progression for us. This QF round is about more than just funding—it's about building stronger connections between our communities and driving collective growth."
The upcoming QF round, running in September 2024, is open to projects that have previously participated in Octant or Gitcoin grant rounds, ensuring funds are directed to initiatives with a proven impact on the Web3 ecosystem. Eligible projects must present a clear roadmap, adhere to high ethical standards, and demonstrate a positive impact on the community. The round will support a variety of community and education projects, encouraging innovative approaches to building and sustaining public goods. View the full list of eligibility criteria here.
Application Dates: September 4th, 12pm UTC to September 10th, 23:59 UTC
Donation Dates: September 12th, 12PM UTC - September 26th 23:59 UTC
Funding available: A total matching pool of up to 10 ETH, Gitcoin will match 1 ETH for every 1 ETH contributed by Octant.The allocation of these funds will be determined through community voting, rewarding projects based on their reach and influence.
Visit the Octant round on Grants Stack to apply.
Mashal emphasizes the significance of this round, stating, "There’s a growing need for funding in community, content, and education. This round is an opportunity for builders to continue their work and make a lasting impact in the Web3 space."
The Octant x Gitcoin QF round is more than just a funding opportunity—it’s a strategic initiative designed to strengthen the bonds between two ecosystems committed to supporting public goods. By leveraging Gitcoin’s QF model, Octant can offer its grantees a unique chance to secure significant funding while expanding their visibility within the broader web3 community.
As Mashal reflects, "When you work with people who are truly passionate about grants and helping builders, it elevates the entire process. We're thrilled to see where this collaboration will take us and the impact it will have on the broader community."
This partnership is set to pave the way for future rounds and initiatives, with the shared goal of driving innovation and sustaining the growth of public goods within the web3 space.