Please describe your proposed solution.
PROBLEM
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One of the weaknesses of the current Catalyst is the lack of a professional DAO model in which members of the Cardano community are tasked with appraising and evaluating funded proposals from Fund1 to Fund9.
Therefore, establishing a suitable DAO model can be an important step in improving the quality of future Catalyst-funded projects while increasing the transparency and efficiency of capital use. . Make it easier for voters to recognize capable teams that are making good products to continue to support instead of voting for teams making bad products.
SOLUTION
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Establish a DAO model on Dework where members of the Cardano community can participate and accomplish tasks evaluating and assessing the quality of projects funded by Catalyst.
For each completed task, they will receive a reward commensurate with their efforts.
The criteria that members need to evaluate include:
- Necessity (Is it truly necessary and important?)
- Convenience (Is it easy to use and does it provide a good user experience?)
- Value (Does it bring value to the ecosystem on Cardano?)
(*Note: Dework is a web3 application that helps create and manage DAOs, providing token and reward payment mechanisms for members participating in task completion. This platform will ensure transparency, while enhancing interaction and cohesion among members within the Cardano community.)
For proposals in the dApp category, the application will be provided by members with the following information:
- Summary of purpose, features, applications generated from the proposal
- Who is the end user?
- What is the benefit?
- How do you feel using the product: Is it easy to use, accessible, good support, innovative approach.
- Do you want to come back to use the product in the next time?
- Is this proposal worth the money Catalyst has funded?
- Does this proposal create value for Cardano? If Yes, how does it help?
For proposals in the communication, marketing and community building categories, reviewers will need to provide the following information:
- Summary of purpose, value created from the proposal
- Who is the target audience?
- What is the benefit?
- Is the implementation idea creative?
- Is user access easy and convenient?
- Does this approach work and increase the number of Cardano participants?
This is the information needed so that the community can have the information needed to determine the products that the sponsoring teams have created a useful product for users? Or are marketing campaigns, community building really effective.
End User
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- Cardano members: By participating in the review of the quality of the recommendations, they can earn additional income. This can help increase their income while actively participating in the development of the Cardano ecosystem.
- Investors: Investors interested in Cardano and Catalyst can monitor the development of the ecosystem and assess the progress of funded proposals from Fund1 to Fund9. This allows them to make smart and timely investment decisions.
- Voter: Voters can identify effective and competent teams through the statistics generated from this proposal. This helps the funding from Catalyst go to the right audience.
- dReps: Based on an assessment of the quality and utility of the recommendations, dReps can easily find qualified groups and support them.
Why is this solution important to Cardano
The app will provide a variety of voter-specific metrics and dRep to help them make more informed decisions. Instead of previously receiving only one-way information from proponents, they now have more historical information about the utility of the products these groups have created in the past. Are these teams making good apps or just trying to monetize Catalyst. That helps them make more accurate decisions instead of just emotional judgments like before.
This way, the Catalyst fund will work more efficiently, the funded ADA will reach the right audience. Thereby helping capable teams with enough operating budget to create useful applications for the Cardano community and attract more new users from other ecosystems. This is the best way to help the Cardano ecosystem grow and accelerate.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
This proposal solves the requirement of the challenge
> Tools for prospective organizations to use in evaluating the features available in Cardano DAO's
> DAO community collaboration
> DAO creation
> DAO operation
The proposal will create a DAO model where community members collaborate together to participate in and evaluate sponsored proposals. Gives community a bigger picture of the product development that the funded proposals from Fund1 to Fund9 have done.
Impact of this project on the development of Cardano
The advancement of the Cardano ecosystem hinges on the value of the products create from funded proposals. If these products are valuable and attract a significant user base, Cardano's success will be expedited. However, if these products lack usefulness and fail to engage users, resources are squandered.
Therefore, this solution is decisive in improving the efficiency of Catalyst in providing capital for the project. By providing voters and dRep with community-specific metrics and assessments of the utility of Catalyst-sponsored products. Through these assessments, voters can distinguish high-performing groups from underperforming groups. This allows them to continue to support successful teams, driving the creation of more valuable products to attract a growing number of users. Instead of wasting votes on poor quality projects.
How do you intend to measure the success of your project?
The success of the proposal will be measured by the following results:
- Number of people who participated in the assessment
- Number of reviews
- Number of voters using the report as a reference for the voting process
Please describe your plans to share the outputs and results of your project?
Outcomes of this proposal will include:
1.Evaluation Report: This document compiles a list of DAO members' evaluations of the utility of Fund1 to Fund9 funded proposals.
2.Reward Distribution: This is a list of members participating in the DAO, participating in tasks that evaluate sponsored proposals, and the rewards for these members include rewards wallet addresses.
3.Publishing statistical documents: Once the results from these two reports are available, we will publish them on our Team's media channel. In particular, we will prioritize reaching out to members of the Cardano community to send them a review of sponsored proposals. This gives community members a bird's-eye view of the products generated from Catalyst-sponsored proposals.
The media through which we will reach the Cardano community will include the following list:
Facebook Groups:
<https://www.facebook.com/groups/CardanoCommunity> 230k member
<https://www.facebook.com/groups/cardanoviet> 46k member
<https://www.facebook.com/groups/cardanoofficial/> 28k member
<https://www.facebook.com/groups/329878940817053/> 78k member
<https://www.facebook.com/groups/1662483017152373/> 231k member
<https://www.facebook.com/groups/1006732599497365/> 12k member
<https://www.facebook.com/groups/420913472500457/> 21k member
Telegram:
<https://t.me/Cardano> 25k member
<https://t.me/CatalystCommunityAdvisors> 1,5k member
Discord
<https://discord.com/invite/TUr9RDU> 10k member