We are pleased to announce that Octant is the second organization to commit to fund its critical software dependencies with Drips.
Octant, a participatory public goods funding platform, has committed a total of 23.2 ETH (approximately $42k) to fund its critical software dependencies with Drips.
Octant & Drips share a commitment to strengthening the open-source ecosystem, and we’re thrilled to partner with them. James Kiernan, Head of Community & Partnerships at Octant, shared that his team sees the inherent value in funding its dependencies through Drips, and that Octant’s use of Drips is a testament to its effectiveness and reliability.
Octant is Dripping đź’° to 4 Critical Projects
Octant has emerged as a major player in public goods funding in the past year. Their approach to using decentralized governance empowers the community to get involved in decision making around funding.
In 2023, Octant has already completed two public goods funding rounds, distributing $1M in ETH in Epoch Zero in July 2023 and 258 ETH (around $464k) in October 2023 to a variety of projects, including Drips!
Funds from Octant’s Epoch Zero and Epoch One will be streamed to the four dependencies on their Drip List: Web3.py, Flask, Wagmi, and Nimbus.
Web3.py is a Python library that allows developers to interact with the Ethereum blockchain easily. Flask is a micro web framework for Python, popular for its simplicity and flexibility in developing web applications. Wagmi is a collection of React Hooks that make it easier to connect a frontend to the Ethereum blockchain, and Nimbus is an Ethereum 2.0 client optimized for resource-restricted devices, which plays a crucial role in the network's sustainability.
Our partnership with Octant is only beginning. We’re hoping to see more funding directed towards Octant’s Drip List in Epoch Two, which begins soon!
Why Octant Used Dripsđź’§
Drips makes dependency funding possible at scale, giving projects a way to support all their dependencies at once, permissionlessly and programmatically. James Kiernan, Head of Community & Partnerships at Octant, recently went through the process of setting up the Octant dependencies and described his experience:
"I was impressed with how seamless and efficient the process was. The platform’s intuitive design made the setup straightforward because of the ability to stream funds directly to any GitHub repository or Ethereum address without intermediaries. This ease of use is crucial, not just for individual contributors like myself but also for larger organizations seeking to make a meaningful impact."
When you use Drips to stream funds to your dependencies, you're ensuring the sustainable development, stability, and ongoing improvement of essential software. With each contribution, we’re a step closer to making the 'lone maintainer' meme a thing of the past.
Fostering a Community of Support
At Drips, our goal is to create new, virtuous loops where open source developers & projects have all the funding they need to thrive.
We salute James and Octant for being early to see the value in utilizing Drips to bolster the open-source ecosystem. As he describes, “it's not just about funding; it's about fostering a community of support and collaboration that elevates the entire sector.“
If you’re interested in supporting the public goods that YOUR project depends on, we would be happy to help you get onboarded to Drips. Thanks for your ongoing support for our work and our mission✌️
Learn More & Take Action
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About
Octant
Octant was developed by the Golem Foundation to test various hypotheses around user control, community engagement, and participatory funding of public goods. It allows for running various governance experiments in a real-life environment and rewards user participation with ETH and is funded by staking rewards earned by the Golem Foundation’s 100,000 ETH. Every 90 days, a fraction of the staking rewards is used to fund the Octant reward pool. Follow Octant on X.
Drips đź’§
Drips is an off-the-shelf solution allowing any organization or individual to provide direct and recurring financial support to the free and open source projects they depend on. Using Drips, organizations can effortlessly allocate funding to the projects they consider essential and to link their success to the success of their dependents. Follow Drips on X.