OceanDAO Round 10 is Live!

This post was originally published on ocean protocol

Ocean Protocol Team

530K 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.

There is $530,000 USD in grant funding available in Round 10. The max request limit per proposal has now changed. Please find more details below:

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 (October 5th at midnight GMT). This determines how many OCEAN will be awarded if a proposal is voted to receive a grant.

A total of $100,000, or approx. 19%, of “Total Round Funding Available” is earmarked for New Projects. Earmarked proposals are eligible for entire “Total Round Funding Available”; returning (general) grants are eligible for the remaining $430,000, or approx. 81%.

As a builder, submit your project proposal on the Round 10 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 10 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.

To improve funding effectiveness, OceanDAO continues to increase access to funding. After the introduction of the Project Standing Dashboard, teams have been working to reconcile their grant deliverables, and complete their proposals.

To continue incentivising completion and outcomes, we are introducing Project Levels, which can be acquired by Teams delivering on their grant promises. Below are the Funding Tiers accessible by projects for OceanDAO Grants Round 10.

  • Teams applying for their first time — $20,000 USD
  • Teams who have completed 1–2 proposals — $20,000 USD
  • Teams who have completed 3+ proposals — $50,000 USD

Make sure to update your Project Deliverables to remain in a good standing, and to continue accessing larger grant amounts. 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.

A key focus in OceanDAO is improving ROI Transparency. With the introduction of [Project Standings], each project reconciles their grant deliverables and outcomes with the DAO to access greater funding. This process naturally leads teams towards reconciling their deliverables, and continue building.

Therefore, the introduction of [Project Standings] enables [1Team-1Proposal] rules to be deprecated.

This design review originated from various discussions with Ambassadors and the larger OceanDAO community. We’d like to thank the community for your continuous feedback and support.

  • Proposals Submission Deadline is October 5th at midnight GMT
  • Add OCEAN to Voting Wallet by the Proposal Submission Deadline.
  • A 2 day proposal Due Diligence Period, ends October 7th, 2021 at 23:59 GMT
  • Voting Starts on October 7th, 2021 at 23:59 GMT
  • Voting Ends on October 11th, 2021 at 23:59 GMT

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,

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!

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