OceanDAO Round 9 is Open 🌊🌊
300K USD available for sustainable data-oriented projects!
Hello, Ocean Community!
For those new, OceanDAO is a community-curated funding system directed towards projects building in the Ocean Protocol ecosystem.
The Ocean ecosystem becomes self-sustainable as the builders of the Web3 data economy leverage Ocean Protocol to create products, services, and resources that the community finds valuable.
Grant Funding Categories:
- Building or improving applications or integrations to Ocean
- Community or developer outreach (grants don’t need to be technical in nature)
- Unleashing data
- Building and/or improving core Ocean software
- Improvements to OceanDAO itself
For up-to-date information on getting started with OceanDAO, we invite you to get involved and learn more about Ocean’s community-curated funding on the OceanDAO website.
The goal is to grow the DAO each round. We encourage the $OCEAN ecosystem to apply or reapply AND to vote! Thank you to all of the participants, voters, and proposers.
OceanDAO Round 9 Announcements and Guidelines
Round 9 Information
There is $300,000 USD in grant funding available in Round 9. The maximum request limit per proposal is $17,500 USD.
Please Note: The amount requested is in USD, but the amount paid is in OCEAN token. The conversion rate is the market price on the Proposal Submission Deadline (September 7th at midnight GMT). This determines how many OCEAN will be awarded if a proposal is voted to receive a grant.
A total of $87,500, or approx. 30%, of “Total Round Funding Available” is earmarked for New Projects. Earmarked proposals are eligible for the entire “Total Round Funding Available”; returning (general) grants are eligible for the remaining $212,500, or approx. 70%.
As a builder, submit your project proposal to the Round 9 Ocean Port Forum. As a voter, this is where you can see all the expanded proposal details to make an informed vote decision.
Additionally, you can check out the OceanDAO Round 9 Proposal Submission Dashboard to see all the proposals in one place as they are submitted.
The grant proposals from the snapshot ballot that meet these criteria are selected to receive their Funding Amount Requested (in OCEAN) to foster positive value creation for the overall Ocean Protocol ecosystem.
Reporting: Updates & Project Standing
To provide more transparency across the DAO and help guide projects towards completion, we are introducing a Project Standing Dashboard & system to report updates.
If you are submitting proposals for grants and actively working on a project, you should submit updates that allow OceanDAO participants to understand your progress.
It is recommended to focus on the original Grant Deliverables and outcomes promised originally while tackling any challenges, successes, and failures.
Make sure to update your Project Deliverables to remain in good standing, and continue to Submit Proposals.
Important note: existing Projects will only be able to participate in the Voting process if their project is in a “Completed” or “Funds Returned” standing.
Please visit the Project Standing Dashboard to learn more.
1-Project / 1-Proposal: Proposal Template & Advisor Roles
Coordination is important in every DAO. To increase transparency and reduce confusion, we are recommending every project reports their “Core Team” and their “Advisors”.
- In a given round an individual can only be on one “Core Team” but could be “Advisor” on any number of teams.
- If any person is in >1 team as a “Core Team” member, and not an “Advisor”, then every proposal that person is in will be disqualified.
- If a “Core Team” member has previously received a grant, any project in the future with that participant will not be eligible for a “New Team” earmark.
We have updated the Grant Proposal Template to make this easy for teams to communicate their project structure.
At the end of the day what matters is not how many projects you are on BUT shipping the actual project deliverables. And if you’re unable to ship your deliverables, the community has the ability to ask questions and vote how they choose.
Vote Counting: Yes minus No Votes
In Round 9 we are introducing a weight to “No Votes”. This means that “No Votes” will be used to calculate a “Final Score” for each proposal. Projects that receive greater than 50% Yes Votes, will then have a “Final Score” calculated by the formula below.
Final Score = Yes Votes - No votes
Grantees are determined by highest “Final Score”. Funds are distributed in descending order, until there are no funds remaining. Any remaining funds will be burned.
Decentralizing Rules: Bot Checking
In Round 9 we are taking initiatives to further decentralization. This means that select project deadlines will be determined by DAOBot.
DAOBot Deadlines:
- Your proposal needs to be submitted by Proposal Submission Deadline date.
- Requiring 500 OCEAN (criteria #3) will be determined by DAOBot. You need to have 500 OCEAN in specifically an ETH Wallet address (OCEAN on other blockchains will not be accepted for the 500 minimum parameter; eg BSC or Polygon are ineligible).
- Existing projects need their [Proposal Standing] to be in “Completed” or “Refunded” to participate in the Voting process.
- First time projects receive a [Proposal Standing] after Voting ends.
Projects that submit their proposals at the very end or do not engage early enough to resolve their Project Standing may not be eligible for Voting.
Funding Round — Rules & Timing Updates
- Proposals Submission Deadline is September 7th at midnight GMT
- A 2 day proposal due diligence window, ending Sep 9th, 2021 at 23:59 GMT
- Voting Starts & Add OCEAN to Voting Wallet By Sep 9th, 2021 at 23:59 GMT
- Voting Ends on Sep 13, 2021 at 23:59 GMT (*voting window increased by 12hrs in Round 9)
If your Proposal is voted to receive a grant, please submit a Request Invoice to the Ocean Protocol Foundation (OPF) for the Ocean Granted amount, if you haven’t already,
OceanDAO Ecosystem
Continue to support and track progress on all of the Grant Recipients here!
Much more to come — join our Town Halls to stay up to date. Thank you!
