Octant documentation

# Using the app

📝 Note: This guide provides a comprehensive walkthrough of the user-flow. Please be aware that some functionalities mentioned in this guide are accessible only during an allocation window.

Upon its launch, the Octant app will offer the following functionalities:

  • Locking and unlocking GLM

  • Scrolling through the list of potential Epoch One beneficiaries

  • Modifying various app settings (e.g., opting for ETH or a selected fiat currency as the primary display)

  • Monitoring real-time metrics related to the Golem Foundation's staked ETH and the GLM amounts locked by Octant users.

Should you encounter any issues while using the Octant app, we encourage you to seek assistance on our dedicated Discord channel (opens new window).

Additionally, we've established a separate Discord channel specifically for UI and UX feedback (opens new window). 📝

# Getting started

The first thing you need to do after launching the app (opens new window) is to connect your WalletConnect-compatible wallet (opens new window) to it.

To connect your wallet click on the Connect wallet button on the top of the screen and follow the instructions in your wallet.

In the onboarding process, you'll be prompted to review the Terms of Use and indicate your agreement by clicking the checkbox. Additionally, you'll be asked to sign a message in your wallet to confirm your acceptance of these terms. Rest assured, this action won't initiate any transactions.

Once you have connected your wallet, you will have to lock some GLM in the Earn tab. GLM (opens new window) is an ERC-20 Ethereum-based token native to the Golem Network (opens new window). If you do not have any GLM you can acquire them at various exchanges (opens new window) and on Uniswap (opens new window).

You can lock as low as 1 GLM, but to be able to claim user rewards and allocate your funds to eligible projects, you need to lock at least 100 GLM for one 90-day epoch.

The more GLM you lock, the higher your user reward, and the more funds you can allocate to your favorite projects. Check Octant’s Technical Outline, if you want to know more about how we calculate rewards and matched funds.

Be aware that both locking and unlocking GLM occur on-chain, and executing these actions will incur gas fees.

Octant's GLM time-locking mechanism is non-custodial. You are in full control of your funds. You can unlock your GLM at any time. Please note, however, that if you unlock your GLM before the current epoch ends, you will not be able to claim your user rewards or allocate any funds to your favorite projects.

You can access your Octant-connected wallet at any time by clicking on the tile showing your Ethereum address at the top of the screen.

The Wallet view allows you to check your connected wallet balances in ETH, GLM, and their fiat equivalents in the currency of your choice (currency data is fetched using CoinGecko (opens new window) API). The view also displays your rewards budget, as well as pending allocations and withdrawals.

The Wallet view also allows you to disconnect your wallet from Octant at any time.

# The main app views

The app has 5 main views, which you can access by clicking at the appropriate tab at the bottom of the screen:

  • Projects - where you can scroll through the list of projects to which you can donate in the current epoch;
  • Allocate - which allows you to allocate your user rewards, in part or full, to projects you shortlisted;
  • Metrics - which shows you a range of stats about the current and previous epochs to help you make allocation decisions;
  • Earn - where you can edit your GLM lock-in, withdraw your user rewards in ETH, and check current and estimated reward stats;
  • Settings - which allows you to access various app settings. The main toggle lets you to choose ETH or a selected fiat as a primary display currency.

# Allocate your Octant funds

To find out more about the causes which were shortlisted by the Octant community as potential donation recipients in the current epoch, click on the Projects tab at the bottom of the screen (Information on the eligibility criteria and on how users can submit a project can be found here).

You can scroll through the list of eligible projects and see how many funds have been already allocated to them by Octant community members. If you would like to know more about a given project, click on it to read a more detailed description and to see a list of the latest donations Octant community members have made to it during the current epoch.

If you find a project you would like to support with your User Rewards, click on the Heart button right next to it.

Projects you shortlisted for allocation will appear in the Allocate tab.

In the Allocate view, you can see the projects you added to your shortlist as well as some metrics that can help you make allocation decisions. The ETH amount you see next to the project indicates how much money Octant users have already allocated to it during the current epoch. Percentages show you the current distribution of rewards among projects, and the dots indicate whether the project has passed a predefined threshold of individual donations. A green dot means that a project is above the threshold, and thus is eligible to receive funding. A red dot means that a project is bellow the threshold. Keep in mind that ETH rewards allocated to projects that didn’t pass the funding threshold will go back to Golem Foundation.

Click on a shortlisted project to decide how much you would like to donate to it. Once you've chosen the correct amount click Done, and then Allocate. You will be shown an overview of your allocated decisions in the current epoch. You will be able to Confirm your decision or Edit your allocations further.

# Locking and withdrawing funds

The Earn tab allows you to edit your GLM lock-in, withdraw your user rewards in ETH, and check your transaction history.

Your Current epoch lock will be displayed there. By clicking on the Edit GLM Lock button you can change the amount of tokens you would like to lock in. Choose the amount you would like to lock and click Done. You can now approve your lock.

Once you've approved your lock, you will be shown a History view where you will see your locks, funds you allocated to different projects, and user rewards you withdrew.

You can change your lock at any moment, please keep in mind, however, that:

  • to be eligible for user rewards and to be able to donate to your preferred projects you have to lock in at least 100 GLM for a whole epoch;
  • if you lower your lock, your user reward will be calculated in proportion to the smaller amount.

# Metrics

In the Metrics view you can check the following information:

  • when the current epoch allocation period ends;
  • the total amount of ETH staked by the Golem Foundation and GLM time-locked by Octant users;
  • the fraction of GLM time-locked by Octant users in relation to the Total GLM supply;
  • the current value of ETH rewards transferred by Golem Foundation to Octant, and the value of users and matched donations to community chosen projects;
  • how much money has been claimed by community users versus donated to eligible projects;
  • information on the amount of GLM tokens that are unclaimed and unallocated at the end of the epoch, or allocated to projects below the cutoff threshold.

← GLM-locking mechanism →