By Graven
1 min read
Jul 6, 2026
Epoch 12 has come to a close.
Octant v2's first full funding round introduced our proper QF implementation, zero-knowledge vote coprocessor, and a new voting app.
With the results finalized onchain and project payouts completed, let's take a look at how the round came together.
25 projects shared 88.1 WETH: 6.24 WETH in direct contributions from voters resulted in 81.86 WETH in quadratic matching. 201 voters took part in the round:
The Tor Project, rotki, L2BEAT, and SEAL 911 topped the leaderboard:
Epoch 12’s new voting system was designed to help minimize trust put into round administrators:
Voters signed offchain ballots, the sequencer posted them publicly to Ethereum as blobs, and a zero-knowledge program verified every signature, removed duplicate votes, enforced each voter's budget, and computed the allocation. The Succinct Network produced a Groth16 proof, and a contract checked that proof onchain before posting results and opening permissionless payout claims for the grantees.
You can review the posted voting blobs (try searching for your address’s ballot) and the Succinct Network proof for yourself.
Many will notice Epoch 12’s matching pool wasn't fully spent: 81.858 of 200 WETH deposited in the pool was distributed. Maybe surprising—but this is QF working as originally designed.
pQF allocates matching according to the community signal actually expressed in the round—how many people backed a project, and how broadly—not by force-splitting a fixed pool.
Epoch 12 ran at α = 1.000, meaning every project received its full, ideal quadratic match with no scaling-down. The signal from 201 voters across 25 projects called for 81.86 WETH of matching, so that's what was distributed. For a refresher on how the α factor works (both for capital-constrained and fully funded rounds), check out our interactive pQF explainer page.
To be clear, the remaining funds aren’t lost. We’ll roll them forward to future funding rounds where they’ll be put to good use.
Epoch 12 opened voting to people who haven't locked GLM, through a new WETH donate-burn path. Nearly a quarter of voters used it.
47 voters committed WETH that was split in two: half into their voting deposit, half swapped to GLM and sent to a burn address.
This permanently removed 23.8k GLM (~$2.6k) from circulation and created a pathway for participants that hadn’t previously interacted with our ecosystem. All said, it was a good experiment as we push for more community participation and signal from our funding rounds.
You can see the burned GLM on Etherscan and the adapter contract here.
Thank you to every voter who showed up and every project that put itself forward. Participation in QF requires real money and effort, but the drive to make Ethereum and the future broadly more prosperous is hopefully worth it.
There were a lot of moving parts with this first full round on Octant v2. We appreciate the feedback we received about the new app, pQF, grantee process, and epoch design broadly. We take it to heart. We’lll share lessons learned and more on where we go from here in posts to follow.
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