Please describe your proposed solution
Our proposed solution addresses the high 100K ADA deposit requirement, which prevents most ADA holders from participating in submitting proposals. By developing a smart contract system, we enable ADA holders to pool their funds collectively, forming a DRep that can meet the deposit threshold. This collective representation empowers more community members to engage in Cardano's governance, enhancing inclusivity.
We chose this approach to leverage the strengths of smart contracts, ensuring a transparent, decentralized method for ADA holders to combine resources. This method fosters community collaboration, allowing even smaller stakeholders to contribute meaningfully.
Our project will engage ADA holders interested in participating in governance but who lack the required individual balance. The impact will be demonstrated by the increased number of proposals submitted through this collective mechanism and the diversity of participants.
What makes our solution unique is its ability to create a decentralized and accessible pathway for broader participation. It benefits smaller ADA holders, strengthens Cardano's governance model, and ensures a more inclusive and democratic process. This inclusivity is vital for Cardano's growth and long-term sustainability.