A new app being released for GLM, users are rewarded in ETH


I saw this message posted in the Golem Network discord. Seems relevant to share here:

Hey everyone! I'm James, a community warrior of Golem since its inception, turned Golem Foundation team member, and I want to share with you a new project I am really excited about. The story begins in 2016, when Golem completed their successful crowdfunding round. Fast forward to 2019 and the team realized that because Golem was sitting on such a strong foundation financially, it made sense to split into two separate entities so that multiple initiatives could be developed at once, without distracting from the core mission of building a peer-to-peer marketplace for computing power. With Ethereum recently transitioning into proof of stake, this provided a unique opportunity to create this application we're calling Octant - a sandbox for decentralized governance and funding experiments. We are going to be staking up to 100,000ETH and holders of the GLM token will have the ability to time lock their GLM token, and will be rewarded for participating in Octant each epoch period (currently set to 3 month intervals). What Golem Foundation is most interested in, is what would incentivize a user to donate part, or all, of their rewards to outside causes in the Ethereum infrastructure and public goods space. So we are creating incentive mechanisms where your money will go further, should you choose to donate elsewhere. Octant will support great public goods projects like Gitcoin, Rocketpool, Protocol Guild and more, while also providing valuable results which will help shape the development of an economic framework we have been researching called the User Defined Organization.

How will Octant add value to the GLM ecosystem? First, it will give community members another reason to hold the GLM token. Providers, after earning GLM rewards on the Golem Network, now have the incentive to hold and participate in Octant. Even though users of Octant are always in control of their funds, and can withdraw them anytime, there are incentives for keeping GLM locked into the application for the duration of each epoch. As the GLM ecosystem continues to grow, with further incentives to hold rather than sell, we see this as a value add. A secondary value add is the collaboration of many industry leaders with Octant, and possibly Golem Network. Community and communication initiatives with these partners will shine a bigger spotlight on our ecosystem. Exploration into DAO mechanisms, voter engagement, and decentralized reputation systems are all within the scope of research for Octant. You can check out the user documentation here: https://docs.octant.app/ feel free to stop by our discord (https://discord.gg/PCnH7TZuZC) if you have any questions! The Octant project was created by the Golem Foundation, not the Golem Factory, but we share a common origin. This is why we are publishing this on the Golem Network Discord server. Thank you for the opportunity.