Catalyst Monthly Fund - More Fund, More Chance For Proposals Get Funded. Reduce the Workload for Catalyst. Voter Vote Proposals Easier and More Accurate

Funds Fund 10 Proposals Catalyst Systems improvements Catalyst Monthly Fund - More Fund, More Chance For Proposals...

not approved

View on Ideascale View on projectcatalyst.io

Current Project Status

Unfunded

Amount
Received

₳0

Amount
Requested

₳170,400

Percentage
Received

0.00%

Solution

We will work on building a fund that can provide monthly funding for proposals - Catalyst Monthly Fund (run parallel with Catalyst)

We will create gitbook, process, guidline, roles,…. for this fund

Problem

The time between Catalyst funds is too long (1 - 2 funds/year) => Less product was built

Good proposals that are not funded have to wait too long to have the opportunity to apply for the next fund

Impact / Alignment

Feasibility

Value for money

Catalyst Monthly Fund - More Fund, More Chance For Proposals Get Funded. Reduce the Workload for Catalyst. Voter Vote Proposals Easier and More Accurate

Impact

Please describe your proposed solution.

Problem:

Catalyst's fund intermission is too long (fund 10 takes 1 year from fund 9). This makes it impossible for projects to access funds and develop projects on Cardano continuously.

Too many funded proposals in each fund also make the quality check of the proposals not guaranteed. This makes many bad proposals still receive funds.

Good proposals but not funded in a fund have to wait a long time to apply for the next fund. This makes good projects grow slowly.

Solution:

We will work on building a fund that can provide monthly funding for proposals - Catalyst Monthly Fund (this can run parallel with Catalyst)

Catalyst Monthly Fund will generate monthly funding rounds with a limited number of voted proposals. The number of submitted proposals will be unlimited. These proposals will be filtered through the evaluation round to select about 50 proposals (we are going to discuss about number of proposal). These proposals will be put up for a vote.

Voters can easily read and better understand the proposals in Catalyst Monthly Fund before voting. Because the number of proposals is not too much. Therefore, the voting results will be more accurate.

With a smaller number of proposals, we can more easily control the quality of the proposals before voting

The workload for fund managers will also be reduced.

It will also be simpler and more thorough to check the implementation progress of the proposal

In this proposal, We will research to publish:

Forms for projects that can submit proposals
Roles in Catalyst Monthly Fund (with guidelines for each role)
Detailed process and the guidance: Submit proposals -> Assess proposals -> Filter proposals -> Vote -> Funded rule -> Proposal onboarding -> Report -> Public the proposal's reports to community -> Checking the project after completion

How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Catalyst Monthly Fund brings many improvements to Catalyst such as:

There will be many funds funding projects in the Cardano ecosystem every year.
Create more opportunities for good projects that want to apply for funds
Good projects can continuously develop projects without having to wait too long to access funds.
Voters will be able to make more accurate voting decisions. Because they only need to read a few dozen proposals, not thousands of proposals as before.
Administrators of the fund will not be overloaded with work because the number of proposals per fund is not too much and the work is distributed throughout the year.
Checking the implementation of the proposals (monthly report) is also easy and not overloaded for those responsible for checking.

How do you intend to measure the success of your project?

We will be publishing a gitbook on Catalyst Monthly Fund to the community. We will collect feedback from the community and continue to improve.

The biggest success of this project is the Catalyst Monthly Fund that will be applied to funding projects on the Cardano ecosystem.

Please describe your plans to share the outputs and results of your project?

We are administrators of

A Facebook group with 5,700 members: <https://www.facebook.com/groups/ada.holder>

A Facebook group with 46,500 members: <https://www.facebook.com/groups/cardanoviet>

And a Telegram group with more than 500 members: https://t.me/ADA_VIET

We will share Catalyst Monthly Fund's Gitbook to our communities and other Cardano communities.

Capability/ Feasibility

What is your capability to deliver your project with high levels of trust and accountability?

We are members of the Vcoincheck team that have six funding proposals in funds 7, 8, and 9, and all these proposals have been successfully completed.

Vcoincheck Annual report 2023

https://www.lidonation.com/en/catalyst-explorer/proposals?l=24&s=vcoincheck&t=p

<https://www.essentialcardano.io/glossary?sort=alphabetical>

We have a lot of products related to blockchain knowledge and Cardano:

Vcoincheck crypto project evaluation: Classifies projects by answering questions.
Vcoincheck library: Library to share basic knowledge about Cardano, blockchain (vcoincheck.io)
Vcoincheck training course: Knowledge training course or how to evaluate crypto projects.
Vcoincheck quiz: An extension of the knowledge library to serve readers with little time to spend on blockchain (vcoincheck.io)

We also have professors about Finance and Economics field. They have a lot of Experiences in Venture Capitals and Funds

What are the main goals for the project and how will you validate if your approach is feasible?

We will be publishing a gitbook on Catalyst Monthly Fund to the community. We will collect feedback from the community and continue to improve.

The biggest success of this project is the Catalyst Monthly Fund that will be applied to funding projects on the Cardano ecosystem.

How will we validate if our approach is feasible?

We are administrators of

A Facebook group with 5,700 members: https://www.facebook.com/groups/ada.holder

A Facebook group with 46,500 members: <https://www.facebook.com/groups/cardanoviet>

And a Telegram group with more than 500 members: https://t.me/ADA_VIET

Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1 (2 months)

Complete guideline for proposal submission phase:

Define amount of money will be distributed every fund
Define challenge and category for each fund
Form to submit proposal
Guideline for proposers
Period of time for this phase

Milestone 2 (2 months)

Complete the guideline for Assessing and Filtering proposals phase:

How to choose Proposal assessors from the community?
Formula for scoring proposal from Proposal Assessor's score
Proposal Assessor's Reward
Guideline for Proposal Assessors
Determine the number of proposals that will be selected in the Governance phase
Guideline for the proposer's response to the Proposal assessor
Period of time for this phase

Milestone 3 (1 month)

Complete the guideline for Governance Phase:

Registration and voting guide
Define the rule for a proposal can get funded
dRep or direct voting?
Voter and dRep's reward
Period of time for this phase

Milestone 4 (1 month)

Complete the guideline for Proposal onboarding phase:

Voting result
Proof-of-life process (checking the team)
Proposal's blockchain address confirmation
Proposer commits implementation plan
Initial batch distribution process

Milestone 5 (2 months)

Complete the guideline for monthly report:

Monthly report form and guide (and role + reward)
Checking report process
Public the report to community process
Fund Distribution plan

Milestone 6 (2 months)

Complete the checking project after completion process. A lot of proposal's team only want to take money from the fund, they don't actually want to build a decent project. So we need to have a process to check if they continue to develop the project after receiving the funds.

We want to innovate this process to help community better know about development of the project. This process will prove whether the funds we have distributed to projects have an impact on the Cardano ecosystem:

Checking process guideline
Roles for this phase
Reward

Please describe the deliverables, outputs and intended outcomes of each milestone.

We will publish all the work results on https://www.gitbook.com/

The tasks that we will complete according to the milestones are:

Milestone 1 (2 months)

Complete guideline for proposal submission phase:

Define amount of money will be distributed every fund
Define challenge and category for each fund
Form to submit proposal
Guideline for proposers
Period of time for this phase

Milestone 2 (2 months)

Complete the guideline for Assessing and Filtering proposals phase:

How to choose Proposal assessors from the community?
Formula for scoring proposal from Proposal Assessor's score
Proposal Assessor's Reward
Guideline for Proposal Assessors
Determine the number of proposals that will be selected in the Governance phase
Guideline for the proposer's response to the Proposal assessor
Period of time for this phase

Milestone 3 (1 month)

Complete the guideline for Governance Phase:

Registration and voting guide
Define the rule for a proposal can get funded
dRep or direct voting?
Voter and dRep's reward
Period of time for this phase

Milestone 4 (1 month)

Complete the guideline for Proposal onboarding phase:

Voting result
Proof-of-life process (checking the team)
Proposal's blockchain address confirmation
Proposer commits implementation plan
Initial batch distribution process

Milestone 5 (2 months)

Complete the guideline for monthly report:

Monthly report form and guide (and role + reward)
Checking report process
Public the report to community process
Fund Distribution plan

Milestone 6 (2 months)

Complete the checking project after completion process:

Checking process guideline
Roles for this phase
Reward

Resources & Value For Money

Please provide a detailed budget breakdown of the proposed work and resources.

Our team has 5 experts who will research and discuss to provide specific guidelines in each phase and roles of Catalyst Monthly Fund. Therefore, the working time will be the total working time of all 5 people. For example 5 experts discuss and do the work for 5 hours, the total working time will be 5 x 5 = 25 hours

Milestone 1 (2 months)

Complete guideline for proposal submission phase:

Define amount of money will be distributed every fund (working time: 5x5 = 25 hours)
Define challenge and category for each fund (working time: 5x10 = 50 hours)
Form to submit proposal (working time: 5x15 = 75 hours)
Guideline for proposers (working time: 5x15 = 75 hours)
Period of time for this phase (working time: 5x5 = 25 hours)

Working time for this Milestone: 250 hours