Please describe your proposed solution

STORM Partners' Legal & Compliance team, renowned for its exceptional expertise in both legal and compliance aspects within the Web3 space, is offering an invaluable service to the Cardano community. As part of this initiative, we are providing a 90-minute legal and compliance tutoring via call to 50 projects that receive funding from Catalyst Fund 12 on a “first-come first-serve” basis. STORM Partners has a proven track record of successfully advising high-profile projects, equipping them with the necessary tools and knowledge to navigate the complex regulatory landscapes that are inherent to the blockchain and cryptocurrency sectors.

Understanding the regulatory compliance framework relevant to a project's specific use case is crucial for any new startup. This tailored training will help project teams comprehend the regulatory requirements and legal obligations that apply to their business models. For startups in the blockchain space, where the regulatory environment can be particularly fluid and varied across jurisdictions, having access to seasoned legal advice is not just beneficial but essential. The guidance from STORM Partners will focus on imparting best practices that can be implemented to ensure ongoing compliance and legal integrity, which in turn fosters trust with users and regulators.

To facilitate this offering, STORM Partners will provide a simple form for the eligible projects to request the consultation. This ensures that the service is efficiently allocated to the first 50 projects expressing interest. Following the consultations, STORM Partners will compile a report summarizing the meetings' outcomes to capture the breadth and impact of the guidance provided, without revealing any confidential details discussed. This approach maintains the privileged attorney-client relationship, ensuring all discussions are handled with the utmost confidentiality, thus protecting the sensitive information of each project while providing a broad view of the common issues and solutions found across the participants.

Please define the positive impact your project will have on the wider Cardano community

The initiative led by STORM Partners' legal team will significantly benefit the wider Cardano community in several impactful ways:

• Enhanced Regulatory Compliance and Risk Management: By providing specialized legal and compliance consultations, STORM Partners will empower the funded projects from Catalyst Fund 12 to better understand and navigate the complex regulatory environments of the blockchain and cryptocurrency sectors. This guidance is crucial for startups, as it helps them to avoid potential legal pitfalls and ensures their operations align with current laws and regulations. As these projects mature with a solid legal foundation, the overall Cardano ecosystem becomes more robust and resistant to regulatory challenges, enhancing its reputation and stability.
• Knowledge Sharing and Capacity Building: The project includes the creation of a report summarizing the outcomes of all consultations. Although individual details will remain confidential, the aggregated insights and common solutions can be shared across the community. This dissemination of knowledge will allow other projects within the Cardano ecosystem to learn from the experiences and advice given to the initial 50 projects. This broader understanding can help preemptively solve challenges and streamline compliance processes for others within the ecosystem, fostering a more informed and proactive community.
• Trust and Credibility Enhancement: Providing access to high-caliber legal advice and ensuring that startups comply with relevant laws not only protects the projects but also builds trust with investors, users, and regulators. This trust is essential for the growth and adoption of the Cardano platform, as it attracts more developers and entrepreneurs to the ecosystem, confident in its support structures and commitment to legal and ethical integrity. As these projects flourish, they contribute to the overall value and credibility of the Cardano network, promoting wider adoption and recognition.

Overall, the project spearheaded by STORM Partners will create a ripple effect of positive outcomes across the Cardano community by fostering a legally sound, compliant, and trustworthy environment that attracts ongoing investment and innovation.

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

STORM Partners has spent the past years building its capability to promote ecosystems like Cardano in the Web3 way, through community-driven engagement and by making the value of Web3 clear to more traditional stakeholders.

Legal & Compliance Department has extensive experience with the legal recognition (and related regulation) of DAOs, as well as other regulatory requirements related to Web3 projects. We have incorporated several DAOs in Switzerland and abroad, registering them either as foundations or as associations (depending on the intrinsic characteristics of the projects and the different governance structures), and we are always up-to-date on regulatory changes to mitigate our clients’ regulatory risks.

We are also highly active in the Cardano ecosystem and have contributed through various initiatives and events to strengthen and shape its community and ecosystem. Some of our Cardano contributions and initiatives include:

• Sheraz Ahmed as Master of Ceremony at the Cardano Summit 2022 in Lausanne.
• Host at the Crypto Valley Conference 2022 & 2023, welcoming Frederik Gregaard.
• Executive Leadership at Crypto Valley Association coordinating activities with Cardano Foundation to promote the ecosystem in Zug and abroad.
• Participated in various Cardano side-events / meetups such as the London Masterclass and Meetup on 9th May 2023.
• Contribution to CIP-1694 workshop in Zug in June 2023.
• Early-stage private investors in Cardano projects such as MELD.
• Nicola Massella Conducted a Legal Masterclass on Legal and Regulatory Aspects of Staking Mechanisms at the Cardano Summit 2023
• Sheraz Ahmed Judged the hackathon at the Cardano Summit 2023, and also contributed to the prize pool.
• Influencer campaigns for Cardano Spot

We understand the importance of financial planning, budgeting, processes and accountability for the engagement we perform. Specifically, we will deploy progress updates. The team will regularly update each milestone with detailed explanations of a given task, with hours employed, outcomes and measurements. The updates will include reports on KPIs and metrics reached and strategic and implementation adjustments due to emerging issues or changes in the Cardano DAO ecosystem.

What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Our goal in the first milestone will be to initiate the project, set responsibilities, and plan the work for the following weeks and months.

Outputs

1. Project onboarding document (draft)
2. Team lead introduction to the community
3. Contact list
4. Survey

Acceptance Criteria

1. A draft .pdf document with the team members, the milestones and subtasks, key deadlines. This document will be a draft because it will be updated as the project progresses.
2. A 1-2 minute video introducing the team and the project to the community, shared on social media (channel TBC, but probably TG or Twitter)
3. A .pdf that ranks the projects to be contacted from most likely to need legal help to least likely in order to propose the service to those who most need it first.
4. A Google form that asks projects if they are interested in receiving a legal consultation and, if so, their contact preferences and areas of interest.

Evidence

1. A link to the draft.
2. A link to the video and a link (twitter) or photo (TG) of the social post.
3. A link to the document.
4. A link to the survey.

All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

Milestone 2: Our goal during this period will be to connect with and provide support to interested projects.

Output

1. Survey results
2. Consultation documentation

Acceptance criteria

1. A .pdf of a report containing the raw data from the surveys (anonymized) and a summary of key statistics, including response rate and number of people contacted.
2. A .pdf of a preliminary report on the consultations, including anonymized summaries, categorizations, and trends of the projects contacted, and an anonymized account of the number of calls and time spent, and any feedback on the value of the calls provided by the projects. We will aim to reach out to 40% of the projects interested, up to a total of 20 projects, during this period.

Evidence

1. A link to the .pdf.
2. A link to the .pdf.

All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

Milestone 3: Our goal during this period will be to connect with and provide support to interested projects.

Output

1. Consultation documentation
2. Social posts or other evidence of distribution

Acceptance criteria

1. A .pdf of the revised report from Milestone 2 on the consultations, including anonymized summaries, categorizations, and trends of the projects contacted, and an anonymized account of the number of calls and time spent, and any feedback on the value of the calls provided by the projects. We will aim to reach out to the remaining 60% of the projects interested, up to 30 projects or up to 50 projects total including those of the previous period.
2. A social post (Twitter, Linkedin) or a .jpg picture of a Telegram post of the report to the community.

Evidence

1. A link to the .pdf.
2. A link to the social post or picture.

All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

Final Milestone: The goal of the final milestone will be to communicate the project and close it out.

Outputs

1. End of project report
2. End of project video

Acceptance criteria

1. The .pdf of the end of project report will combine the finalized report from Milestone 3, including design elements like graphics and specific recommendations for relevant categories, the team's lessons learned from implementing the project, and any closeout statements from the team lead. Further, it will list the organizations and channels to whom or in which the report was made available (at minimum the community through TG or Twitter and the Cardano Foundation).
2. A private Youtube video of a 2-3 minute summary of the findings from the end of project report.

Evidence

1. A link to the pdf.
2. A link to the video

All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

Who is in the project team and what are their roles?

Legal & Compliance Department - Legal risks and when to call a lawyer

Nicola Massella - Partner & Head of Legal

<https://www.linkedin.com/in/nicolamassella>

D.Jur. Nicola Massella is an expert on crypto-assets and blockchain technology regulation with a commitment to decentralising and democratising capital markets. He is the head of STORM Partners’ Legal &amp; Compliance Department. Additionally, he is engaged pro bono as Legal Research Officer at the Blockchain &amp; Climate Institute and as a member of the Regulatory Working Group at the Crypto Valley Association. He developed specific expertise concerning DAOs by assisting multiple decentralised organisations in establishing a sound legal structure.

Ecosystem Department

Marco Moshi - Ecosystem Director

<https://www.linkedin.com/in/marco-moshi/>

Marco Moshi is a dynamic leader in the Web3 ecosystem, currently serving as the Ecosystem Director at Storm Partners. With a profound understanding of decentralized technologies, Marco has spearheaded key initiatives such as Polygon Village and the Polygon DAO. His technical expertise and strategic insight have significantly contributed to lowering entry thresholds in Web3 and enhancing decentralized governance across major organizations. Committed to the progressive decentralization of business and social layers, Marco continues to drive impactful growth and innovation within the blockchain space.

Operations Department

Darby (D.J.) Bodden - Director of Operations

<https://www.linkedin.com/in/d-j-bodden-00598a5b/>

D.J. is a 20-year professional with a focus in organizing both large formal and small startup operations. He started as a military officer, and then transitioned to commodity trading before helping start and fund a blockchain traceability startup from the ground up, working with large enterprises to deliver the solution. He has since then used the lessons learned those experiences to help businesses refine their strategy, operations, and processes.

Project Coordinator -

Sheraz Ahmed - Managing Partner

<https://www.linkedin.com/in/sherazahmed1/>

Sheraz Ahmed has advised hundreds of organisations on the implementation of modern Web3 practices to further their business objectives. As the Managing Partner of STORM Partners, an all-in-one service provider, and as the Co-Executive Director of the Crypto Valley Association, he drives growth, collaboration, and integrity across the global blockchain ecosystem!

Please provide a cost breakdown of the proposed work and resources

We're planning to run pretty tightly on this one while also providing value to entrepreneurs who need to make things work. If we can successfully use the methods in the webinars to reduce costs, we'll use that to talk to more of the community and increase the reach and attendance of the program.

• Outreach 15%
• Legal Team interactions 60%
• Survey creation, data analysis, report creation 25%

Grand Total: 85'000 ADA

No dependencies.

How does the cost of the project represent value for money for the Cardano ecosystem?

The project presented by STORM Partners' legal team delivers significant value for money to the Cardano ecosystem by offering comprehensive legal and compliance consultations. Here's how the project ensures a high return on investment:

1. Enhancing Project Success and Longevity: By providing specialized legal and compliance advice, the project helps funded startups navigate the complex and dynamic regulatory landscape of the blockchain industry. This support reduces the risk of legal challenges and compliance issues that could potentially derail these projects. Ensuring that these startups adhere to legal and regulatory standards from the outset not only increases their likelihood of sustainability and success but also secures the investments made by the Cardano community into these projects.
2. Building Trust with Regulators and Users: The guidance on best practices and compliance strategies enhances the credibility and reliability of projects within the ecosystem. This trust is crucial for broader acceptance and integration of blockchain solutions in traditional industries and among consumers. As these projects comply with legal standards and operate transparently, they are more likely to attract partnerships, customers, and further investments, contributing positively to the overall growth and reputation of the Cardano ecosystem.
3. Cost Efficiency through Shared Resources: The format of offering consultations to 50 projects on a "first-come, first-serve" basis maximizes the impact of the legal expertise by spreading the cost across multiple projects. This shared approach not only makes it cost-effective but also creates a community of practice where lessons and insights are disseminated across the ecosystem, potentially benefiting even those who did not participate directly in the consultations.
4. Creating a Knowledge Base for Future Reference: The compilation of a report summarizing the consultations' outcomes provides a valuable resource that can guide future projects. This report, while maintaining confidentiality, helps to circulate learned lessons and advice more broadly within the ecosystem, thereby elevating the knowledge and preparedness of upcoming projects and reducing the need for similar future investments in legal consultations.
5. Protecting Project Investments: By ensuring that each project understands and implements the necessary compliance measures, the risk of costly legal mistakes is significantly reduced. This proactive approach in legal and compliance readiness is far more cost-effective compared to the expenses that could arise from legal troubles, such as fines, sanctions, or the stalling of project development due to legal challenges.

Through these mechanisms, the investment in STORM Partners' legal consultation initiative represents value for money by actively contributing to the durability, integrity, and success of projects within the Cardano ecosystem, thus fostering a safer, more robust, and legally compliant environment for innovation and growth.