Golem Foundation Launches a new Web3 Platform for Funding Public Goods

Golem Foundation has just announced the launch of Octant, a novel platform for experiments in participatory public goods funding, built around the Golem Network’s native ERC-20 token, GLM.

Designed and developed by the Golem Foundation, Octant employs GLM in an innovative way. Its core objective is to explore motivations and behaviors that drive community engagement in funding public goods. The platform provides a vibrant setting for governance experiments and rewards active users with ETH.

Funding for Octant comes from Golem Foundation's 100,000 ETH stake and 3,125 Ethereum validators. A specific portion of the staking rewards will flow into the Octant reward pool, ensuring a steady budget for ongoing experimentation.

Want to have a say how Octant's funds are distributed? Lock at least 100 GLM for a 90-day epoch. Your rewards and voting power rise with more locked GLM. The locking is non-custodial, allowing individual unlocks but requiring full epoch commitment for governance.

Post-epoch, users have two weeks to claim rewards for themselves or support chosen public goods projects, with matched donations enhancing impact.

Epoch One features projects like Clr.fund, DAO Drops, Drips, EthStaker, Ethereum Cat Herders, Giveth, Gitcoin, Kernel, Protocol Guild, and Supermodular.xyz. The project pool will expand before the first allocation window based on community feedback.

For a deeper dive, visit the official announcement https://golem.foundation/2023/08/08/announcing-octant.html