Here at the DeSo Foundation, we recognize that we are only as strong as our community of builders and early participants.
It was with this philosophy in mind, that we announced our $50M Octane Fund in early October to help fuel the future of decentralized social media.
Today, we are excited to provide 3 major announcements related to the Octane Fund.
Updates sent to all teams
We had over 100 serious submissions to the Octane Fund and we were completely blown away by the quality of projects we saw in this first wave of submissions. While it took a lot of time and energy to complete due diligence, we feel that we were able to give every team a fair assessment.
We are pleased to announce that we have finished reviewing all 100+ submissions and have sent out email communications to all of the teams involved.
A handful of projects really stood out to us, and we will be scheduling calls with those founders to continue our exploration as we move closer to decisions on Octane Fund investments.
Sneak Peek: The first official DeSo hackathon
One other theme we noticed in the submissions, was that there are a number of projects with massive potential, but are still very early in their lifecycle. We began brainstorming on ways to help accelerate the development of these projects and that’s when we came up with an awesome idea...the first ever official DeSo hackathon!
During the hackathon these teams (as well as anyone that wants to build on DeSo) will have the opportunity to network with our team and investors, as well as to compete for cash prizes and further consideration for Octane Fund investments.
While we are still in the midst of planning, our goal is to move fast to lock down the logistics of the hackathon in a timely manner.
Keep an eye out for further details on the hackathon soon. 👀
The DeSo Foundation continues to grow
As the DeSo blockchain has continued to grow, we have been exploring ways to expand the core DeSo Foundation team to help us scale.
We are pleased to announce that we have brought on Alex Valaitis to the DeSo foundation to help oversee the Octane Fund and DeSo Hackathon.
Previously, Alex was a Senior Product Manager at LinkedIn and has been consulting/building projects on Ethereum since 2017. His unique blend of experiences working at both a large scale social media network as well as building on blockchain technologies makes him a perfect fit to oversee these projects.
If you have any questions/thoughts/suggestions about the Octane Fund or DeSo Hackathon, please do not hesitate to reach out to him.
We’re excited to hear what you all think about these announcements. Let us know on any DeSo app such as Diamond or CloutFeed.