Exploring the Octant Ecosystem Part 3: Octant Governance: A Guide to Engaging with Intention
By: Tereza Bízková & Drew Simon
Engaging with Web3 ecosystems allows you to directly influence the governance and development of impactful projects. It’s a chance to immerse yourself in decentralized decision-making, contributing to initiatives that resonate with your values.
⚖️ Decentralized governance offers a new paradigm where communities collectively manage, develop, and steer projects without centralized control. While this democratization of decision-making presents unparalleled opportunities, it also demands a responsible and informed approach from participants.
Octant is built for community-driven governance, allowing participants to have a real say in public goods funding with a relatively low entry point (100 GLM tokens to start earning rewards and gain voting power).
To make the most of your participation, it's crucial to understand the platform's mechanics—from knowing when to get involved to making informed decisions that align with both your goals and the community's vision.
The Octant community has donated over 1142 ETH to 40 high-impact causes and has claimed 616 ETH in rewards. @OctantApp is designed as a self-sustaining ecosystem that enables decentralized projects to thrive through community-powered governance.
— Davis Brains (@Davis_Brains) August 15, 2024
That’s why, following our introduction to Octant and the guide to GLM staking, this third article in our Octant series looks at what it means to engage purposefully and intentionally in Octant’s governance. Let’s dive in.
Participating in Decentralized Communities
In decentralized governance, active participation is essential for the health and evolution of the ecosystem.
Octant’s model depends on the collective input of its community, making your involvement critical in shaping the platform’s direction and ensuring it stays aligned with its principles.
“The core idea of decentralized governance is that decisions are made by the community, for the community, and with the community’s long-term health in mind.”
However, a major challenge in decentralized communities is sustaining meaningful engagement. Research from DeepDAO reveals that even among the most active DAOs, less than 10% of participants consistently vote. This low turnout often concentrates decision-making power in the hands of a few, which runs counter to the decentralized ideals and risks decisions that may not fully represent the broader community.
Apathy is another hurdle, often fueled by the complexity of the processes or the delayed visibility of the impact from participation. When engagement drops, the community's collective power weakens, allowing decisions to be made by a minority and compromising the democratic essence of decentralized governance.
To counter these challenges, staying active across the various channels Octant offers is essential. With any decentralized community, it is certainly true that the more time and energy you put into engaging with the community, the more you get out of it.
That being said, it is important not to spread yourself too thin and consider how many decentralized communities you want to dedicate your time to. You may find that less is more and that going all in on a couple of communities is more of a rewarding experience than passively engaging in many.
When it comes to most decentralized communities, thoughtful voting plays a key role in the process. When reviewing proposals, it's important to consider the long-term effects—not just for yourself but for the ecosystem as a whole. Evaluating proposals objectively and steering clear of short-term gains or popular sentiment helps ensure decisions drive sustainable growth and align with the community's broader goals.
Transparency is also a cornerstone of effective governance. Sharing your thought process and being open about your stakes in decisions builds trust within the community. There is often plenty of opportunity to provide feedback and help shape the policies and initiatives of the DAO. This could include engaging in dialogue and providing critical feedback in the community governance forum or Discord server.
This openness ensures that the governance process remains fair, allowing all voices to be heard and respected. Engaging with diverse opinions is equally crucial; embracing healthy debate often leads to better outcomes. That being said, many new DAO contributors feel a sense of “imposter syndrome” as they may bring different skillsets and experience levels to the community. It is important to remember that this is a positive and that decentralized communities thrive when diverse perspectives are brought to the table. So don’t be afraid to step outside of your comfort and find your voice!
Ways to Engage in Octant’s Governance
Engaging in Octant’s governance gives you the opportunity to actively shape the ecosystem's future. The first step is locking your GLM tokens, which makes you eligible to vote and participate fully.
Subsequently, whether you prefer detailed discussions, real-time chats, or impactful voting, there are a few avenues to get your voice heard.
Octant Forum
The Octant Forum is the central space for in-depth governance discussions. Here, community members can propose ideas, debate initiatives, and collaboratively shape the direction of Octant.
For example, there’s an ongoing post titled "What Would Ideal Community-Led Governance for Octant Look Like?" where participants discuss how to transition to a community-driven model. The conversation explores the limitations of simply deciding "who gets funds," delves into participatory grantmaking, and considers innovative ideas like on-chain artifacts and crowdsourced evaluations. This thread shows the thoughtful and complex discussions taking place in the forum.
When participating in the forum, it’s important to follow the rules: maintain respect, protect your keys, stay on-topic, and keep discussions organized. This ensures a productive and welcoming environment for everyone.
Discord
Octant’s Discord server is the heart of real-time interaction and informal governance discussions. It’s where community members stay connected, share updates, and engage in ongoing conversations that complement the more structured discussions on the forum.
You can get started by simply saying hi in the Introductions channel!
Overall, Discord is designed to be a dynamic space where governance topics can unfold more fluidly. Community calls, which are announced on Discord, provide opportunities to discuss ongoing projects, review proposals, and plan future actions in real-time. Participating in these calls gives you direct access to other active members and decision-makers in the community.
Discord is also a great space for social engagement. The recently announced weekly Block Party offers an informal, fun way for everyone to connect, share ideas, and collaborate in a more relaxed setting.
gm gm, we've heard a lot of talk lately that crypto has been kind of boring.
— Octant (@OctantApp) August 19, 2024
So we're going to start hosting a party every Tuesday to have some fun.
We'll play games, vibe together and occasionally we'll drop some alpha.
We already have artists who are interested in playing… pic.twitter.com/Dxdt4BKimR
Snapshot
Snapshot is where the community’s decisions are finalized, turning discussions from the Forum and Discord into actionable outcomes. Through Snapshot, members with locked GLM tokens can vote on key proposals that influence the ecosystem's future.
Snapshot operates off-chain, which means there are no gas fees, making the voting process accessible to everyone. The platform is designed to be user-friendly, ensuring that all community members can easily participate in the governance process.
In the recent Epoch 5 vote, 15 projects were selected from a pool of 42 to receive funding and join the next round of Octant’s initiatives. This vote was crucial as it determined which new projects would participate alongside those automatically proceeding from the previous epoch.
Your voting power in Snapshot is directly linked to the amount of GLM you have locked. This means that every vote counts and can significantly impact the direction of Octant.
It’s also good to know that Snapshot allows for weighted voting, giving you the flexibility to distribute your votes across multiple proposals if you wish to support various initiatives.
Making the Most out of Epochs
Participating in Octant’s governance means engaging fully in each epoch, a 90-day cycle where the community plays a crucial role in decision-making. An epoch is a structured period during which key activities—like selecting projects for funding, voting on governance proposals, and discussing new initiatives—take place.
At the start of an epoch, the community selects projects that align with Octant’s values and mission. This is followed by a two-week allocation window where you can take specific actions to influence outcomes.
To participate, you need to lock at least 100 GLM tokens within Octant. This not only gives you the right to vote on Snapshot but also connects your personal success with that of the ecosystem.
🔎 Impact verification is a critical consideration in fund allocation within ecosystems like Octant. When engaging in governance, it's essential to look beyond the initial decision of which projects receive funding and focus on how these projects perform and deliver real results. Octant is working on mechanisms (including Karma GAP) that provide transparency and allow participants to track the outcomes of supported initiatives.
To take your participation a step further, you can also propose projects to be included in the funding round. By submitting a project proposal that meets Octant's criteria, you contribute directly to the ecosystem's development and potentially secure funding for initiatives that align with your vision. Proposing a project not only deepens your involvement but also enables you to influence which ideas receive support, helping to shape the broader impact of Octant.
Wrapping Up
If you want to change something, you have to speak up. One of our favorite things about Octant is that it’s really been listening: Each epoch brings new adjustments, and it’s exciting to watch the platform evolve.
🤝 The strength of any decentralized project lies in its community, so whether you’re voting, proposing ideas, or simply staying informed, your involvement can make a huge difference.
For example, when the community raised concerns about voting fairness, Octant responded by introducing quadratic funding in Epoch 3, leveling the playing field by reducing the influence of large token holders.
people who angry-tweet but don’t constructively engage on governance forums and where the real decisions happen💀💀💀 pic.twitter.com/OzwWSceTL0
— Octant (@OctantApp) August 15, 2024
Finally, remember that you can never go wrong by revisiting the documentation, reading past forum entries, or popping into Discord to say hi. Even if you don’t have GLM locked on Octant and are just interested in learning about the community, there are plenty of ways to engage. No matter how you choose to engage, DAOs like Octant give you the opportunity to get in at the ground level and shape the future of public goods funding!
Tereza Bízková is a Colombia-based journalist, tech writer, and the co-founder of ReFi Medellin. Her passion for technology and a master's degree in Defence, Development, and Diplomacy fuels her exploration of how innovation can drive social change.
Drew Simon Founded Crypto Altruism in 2021 with a mission to show the world the good of Web3. Having worked in the nonprofit sector for over 10 years, Drew believes that Web3 can be a transformational tool for social causes around the world.
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Thank you to Octant for their support in bringing this series to life! We are honored to have received a 2.5 ETH grant through the Octant Community Fund.
