As autumn paints the world in hues of gold, it's time to unwrap the October edition of General Magic's newsletter! Last month was full of creativity, collaborations, and progress, and we can't wait to share it all with you.
From groundbreaking projects to the boundless creativity of our community, there's so much to dive into.
Impact DAO of the Month: Octant
We're thrilled to shine a spotlight on Octant, a groundbreaking initiative developed and funded by the Golem Foundation. Octant leverages GLM, an ERC-20 token native to the Golem Network, to experiment with user control, community engagement, and participatory funding for public goods.
Here's why Octant is a game-changer:
🌐 Platform for Experimentation: Octant provides a real-life environment to test various hypotheses around decentralized governance and rewards active user participation with ETH.
🌟 Dual Rewards System: Octant's reward pool is divided into User Rewards and Matched Rewards, creating a dynamic ecosystem for participants.
💼 User Participation: To distribute Octant funds, users lock a minimum of 100 GLM for a 90-day epoch. The more GLM locked, the more rewards earned, along with increased voting power.
🔐 Non-Custodial Mechanism: Users have full control of their locked tokens and can withdraw them at any time, ensuring transparency and security.
🔄 Interactive Allocations: Users can adjust their allocations based on community preferences during the decision window, adding an engaging element to the process.
🤝 Community Engagement: Public goods projects actively engage with the Octant community to attract donations, fostering a vibrant ecosystem.
Our Magic:
This month we've been fully immersed in the creation of the RetroPGF community website, a project close to our hearts.
Additionally, our design team has been weaving their creative magic for Giveth, bringing fresh perspectives and innovation to the forefront. Keep an eye out for these exciting developments and more in the coming updates!
🙏High Praise: Marko
Praise to Marko for his multifaceted contributions to our community.
Marko embodies the spirit of stewardship and leadership in our community beyond his role as our design team leader.
Our design team flourishes under Marko's guidance. In his hands, ideas become tangible works of art. His keen eye for detail and innovative approach ensure that every creation reflects our team's passion and dedication ✨👁🎨
Marko's leadership extends far beyond design; he embodies the true essence of teamwork, compassion, and excellence. We are grateful for his unwavering dedication and the positive impact he continues to make on our community.
Deep Dives: Exploring Public Goods and Commons in Web3 🌱
In the world of Web3, we're diving into an exciting concept: public goods and commons. These are things that bring big value but often don't get enough support.
Let's break it down!
🧐 Understanding Public Goods and Commons
Imagine stuff that's open for everyone (like clean air) and using it doesn't stop others from using it too. That's what we call a public good. It's the same with things that benefit a whole bunch of people, like fair rules.
❌ Market Hiccups
Regular money systems sometimes struggle to fund these goodies. This leads to problems like some folks benefiting without pitching in (we call them "free riders") and resources getting overused.
🤝 Backing Public Goods
There are two main ways:
Team Effort: People and groups come together to support these goodies.
Rules in Place: Big players or rules set by leaders make sure these goods get what they need.
🌍 Public Goods in Our Society
Normally, taxes help fund these good things. But sometimes, this top-down approach doesn't always hit the sweet spot for local needs.
💻 Public Goods in the Internet Age
The internet gifted us with digital public goods like open-source software and platforms for sharing knowledge. These have been game-changers! They often get support from generous individuals or big organizations.
🚀 Web3: A New Frontier
Web3 gives us a fresh chance to fund these public goods. Cool tech like tokens and special designs can make sure these goodies get the love they deserve.
👥 Building Together
Web3 is all about community, working smart, and being ready for anything. This has led to new ways of sharing and supporting these valuable resources.
In Web3, we're not just talking about tech. We're talking about how we can make the world better for everyone. The possibilities are huge!
Show Your Support for Impact DAO Projects with our Merch Shop!
In a world where our choices echo beyond personal style, let your fashion be a statement of your values.
This is why we're excited to introduce Gravity Swag Shop, a place where fashion and purpose meet and every garment reflects our commitment to the world and social justice.
Step into Gravity DAO's Store, where your style meets your values. Explore our range of products, including t-shirts, hoodies, water bottles, and mugs. Embedding ethical fashion and conscious living into every piece of clothing is part of what we are about. The items you choose will be catalysts for change as you incorporate them into your wardrobe.
Logs from the Giveth Galaxy:
October has witnessed an incredible surge of energy within the Giveth Galaxy. Our involvement in RetroPGF3 as part of Optimism was a major highlight of this month. Working together, we made an important impact through our collaborative efforts and innovative ideas.
Let's turn our attention to a selection of remarkable events and achievements in the Giveth Galaxy during this month:
💜Giveth launched its Quadratic Funding round on Optimism on October 9, having 125 verified projects with Optimism addresses, backed by 25,000 DAI in matching funds and $23,000 in contributions from individual donors, all thriving on the Optimism Network!
🙏Praise has continued its work in the Optimism community, making it the 3rd largest praising community.
🔴RetroPGF Community this month was marked by intense dedication.The highlight was the launch of our sleek new website, a central hub for all things RetroPGF. With this page, enthusiasts can learn about winning projects from past rounds of RetroPGF, as well as discover the latest community news.
🔄Pairwise has been hard at work implementing AI-powered categorization techniques for RetroPGF projects, ensuring a more efficient and accurate curation process.
🌱Trusted Seed was one of the projects that participated in the Optimism QF round at Giveth this month. They have also announced the launch of their 3rd edition of the Unconference called "Regen Alliances", a networking and incubation program for new ideas, projects and alliances that will take place during the months of November and December 2023.
🔶 Regen Score is officially live! This innovative tool is dedicated to on-chain regenerative activities linked to public goods. Utilizing a specially crafted scoring algorithm, it assesses individual regenerative actions on the blockchain, promoting trust, active involvement, and democratized governance within the public goods ecosystem.
Thanks for joining us on this journey, and we'll see you next time with more exciting updates!
Best,
The General Magic Team 🪄
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