Project Criteria

Summary

Project criteria: (1) ROI towards growth, (2) aligned with Ocean mission, (3) meet a minimum proposal requirement.

Details

When proposing a project, these are the three criteria to keep in consideration: (1) ROI towards growth (2) aligned with Ocean mission. Projects that fail (2) will not be considered for voting. Once voting opens, only criterion (1) remains. Additionally, your proposal must (3) meet a minimum proposal requirement. Let’s elaborate!

Criterion (1). On average, value added to the Ocean ecosystem must exceed the grant value spent.

• That is, the average “return on investment” (ROI) must be > 1.0. Value added by a project is hard to know in advance. Some will fail; others will succeed and bring 10x value. But this must hold true on average across projects.
• Motivation: We want a “snowball effect” for ecosystem growth, where more funds granted leads to more funds available for grants in the future. This will happen with more network revenue or a rise in OCEAN.
• Details on how to estimate expected ROI here.

Criterion (2). The project must help to promote the Ocean’s mission & values (or at least not work against them).

• Mission & values. Ocean’s mission is to equalize the opportunity for people to access data. Ocean’s values, and further details, are here.

Criterion (3). Minimum Proposal Requirement.

• Anyone can propose a project to OceanDAO. However, to be considered, you must have at least 2,000 OCEAN in the same Ethereum wallet as listed in your proposal by the time the proposal process ends (first day of month at 23:59 GMT). If selected for a grant, this will be the same wallet where you will receive your grant funding. This helps to filter towards people with a vested interest or “skin in the game” in OCEAN - that is, Ocean community members. Ocean Protocol team members will verify.