What is OceanDAO?
Originating from the Ocean Protocol, the OceanDAO is a grants DAO curated by the Ocean community, for growth & long-term sustainability.
The Ocean Protocol is designed specifically to connect data users (data consumers) and suppliers (data providers) together in a common marketplace and on-chain. The protocol offers multiple tools such as:
- The Ocean Market – a Decentralized Exchange (DEX) for publishing, discovering, and consuming data.
- veOcean & Data Farming – a program which allows participants to earn rewards by staking OCEAN tokens and curating data.
- DataChallenges – an offer to participate in the data science community involved with Ocean Protocol.
The OceanDAO is an initiative to provide community-led funding for community projects, which are also curated by the community, and take the form of a grant provided by the “grants DAO”. The goal of the enterprise is to fund projects which will create a self-proclaimed “Web3 Sustainability Loop” which can be compared to a positive feedback loop for community development and ecosystem scope and usage. OceanDAO offers two roles for engagement. As a project, participants can seek funding, build, communicate with the community, or “unlock data”. As a curator, participants may partake in governance by holding OCEAN tokens.
Grant size:
Varies on grant type
Founded:
2017
Location:
Singapore
Token:
Ocean Protocol
Website:
oceanprotocol.com
OceanDAO Grants
Grants are awarded on a continuous rotation of rounds, for which at least twenty-three have already taken place between June 2021 and November 2022. The twenty-third round of funding posits thirty-five thousand USD liquidity, with proposals due by November 8th, 2022. The voting on round twenty-three was from November 10th until 14th, 2022.
The only obvert requirement for a project proposal is a valuable impact on the Ocean ecosystem. Any member of the OceanDAO may vote and their vote is proportional to the amount of OCEAN tokens held. Voting power can be increased by becoming verified or identifying oneself, to the organization. Proposers are given the opportunity to communicate with the Ocean Protocol community and answer questions in chat. There are multiple categories for a project grant to fall into.
Application Process
The application to submit a project proposal is gated behind access to https://seed.oceandao.org/ which allows a compatible wallet, such as MetaMask, to connect. Once connected, a project can be proposed from a small dashboard.
All project proposals must meet the Project Submission Criteria which state that a project must reflect the following:
- Add Value to the Ocean Ecosystem.
- Usage of OCEAN token.
- Viability.
- Community active-ness.
- Value to community Aligned with Ocean mission OCEAN holding requirement One Project/One proposal. Grant exclusion criteria.
The application process itself is a brief questionnaire which is split into two parts and asks the following:
Part 1 – Project Details
- Name of Project
- Project Category (dropdown)
- Build / improve applications of integrations in Ocean
- Outreach / community / spread awareness (grants don’t need to be technical in nature)
- Unleash Data
- Build / improve core software
- Improvements to OceanDAO
- Project Description (large text field)
- What is the final product? (large text field)
- Project lead full name
- Project lead email
- Country of Residence
- Team Website
- Twitter Website
- Discord Website
Part 2 – Team Details
- Core Team (large text field)
- Advisors (large text field)
Additional Details
A full description of the Project submission Criteria can be found on the OceanDAO GitHub page.
- Last updated November 20, 2022
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