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Renovate Catalyst funding mechanism

$28,500.00 Requested
Ideascale logo View on ideascale
Problem:

Through 7 funds, the number of proposals and the size of fund almost double after each fund, burdening to the Catalyst management team.

Challenge: Improve and Grow Auditability
over budget Requested 14.25% of the fund.
Proposal Assessor Reviews:
4.47 (15)
Yes Votes:
₳ 38,194,735
No Votes:
₳ 4,033,275
Unique Wallets:
138

Experience

Founder team has varying expertise, namely: Full-stack developer; Project manager; Community manager; Data analysis; Dev team maker; Software product manager and Business owner. Each with more than 10 years of experience.

Solution

Develop a tool for Catalyst fund management where released fund is made automated & proportion to project progress and completed deliveries.

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Proposal Assessor Reviews

Addresses Challenge

4.6 / 5
5 Reviews

Does the proposal effectively addresses the challenge?

Community Reviews (5)

Commenter gravatar

The challenge is about being able to audit funded proposals as well as give the treasury value for money as well as assess the return on intention of proposers. The problem as outlined by this team is that at the beginning of a fund, after a proposal is selected as successful one, Catalyst will disburses the money to the proposers. After few weekly reports, the cash will continuously be disbursed. This leads to a lack of supervision on: (1) how the funded project performs; and (2) how well delivery is achieved, hence a waste of Catalyst resources. This is directly addressing an auditability issue

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_664
Total QA Ratings
7
QA Rating Outcome
Confirming your humanity

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The problem being increase in number of proposal and increase in fund size have overburden the Catalyst management team. proposer is trying to solve it by building a tool that would take care of Catalyst fund management in which fund release is automated and funding will be on based on the progress of the proposal. This really does help to reduce the burden on the Catalyst management team hence the proposal identifies the issue which needs to be resolved. This tool will be very helpful to reduce the fund distribution work so the Catalyst management team can concentrate on other important things and which in turn increase the efficiency of Catalyst Team thus this will add value to the Cardano ecosystem. The given metrics and target of the proposal do align with the challenge. The proposal can be scaled to resolve future challenges efficiently. Taking all these into account it is safe to say the proposal effectively addresses the challenge

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_419
Total QA Ratings
7
QA Rating Outcome
Confirming your humanity

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The proposal presents an excellent problem description. Right from the start, it demonstrates the author's concern to quantify the size of the problem, by making an association between the evolution of funds and the worsening of the problem.

The solution description was elaborated with a comparison between the current situation and the proposed solution divided into two contexts, one with a general approach and the other addressing the technological solution specifically. The clarity and detail used in the description of the solution demonstrates a strong professionalism of the author. His commitment is reflected in the quality of the documentation.

Regarding the correlation with the challenge, despite being succinct, it accurately pointed out how the solution meets the needs represented in the challenge. Among the items listed, two of them are most representative: (1) to develop a solution that promotes efficiency and scale with assertiveness; (2) expose with transparency and clear criteria the monitoring of progress and project delivery.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1818
Total QA Ratings
6
QA Rating Outcome
Confirming your humanity

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Proposal sees a large increase in the number of proposals after each funding round, placing a heavy burden on Catalyst's management team. They came up with a solution is to develop a Catalyst fund management tool. The Catalyst Fund will automatically fund according to the progress of the project. Within each Fund, funded proposals are disbursed after several weekly reports. As suggested by the team, this led to a lack of supervision on: (1) how the funds project performs; and (2) how well delivery is achieved, wasting Catalyst resources. Their solution is to develop a tool to monitor and distribute funds through: Number of transfers - corresponding to the amount of funds disbursed; the progress of the product delivery (consider if this is on time; how is the quality of the product delivery) this is the hardest part and they suggest using CA, vCA as auditors. Moreover, they offer a technical solution to analyze data sources on the basis of big DATA with algorithms that simulate Cardano's DAO administration such as building APIs; building original data… using Node.js, React, Flutter, MySQL… The solution description is somewhat incorrect, this is still lacking in clarity. I rate this suggestion as a good idea. The proposal also includes risks such as late capital, difficult quality assessment, etc. and also offers solutions to overcome the risks. These solutions are relatively reasonable.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1632
Total QA Ratings
4
QA Rating Outcome
Confirming your humanity

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This is a wonderful proposal. The idea of it is intriguing to me because it helps simplify the funding process. Right now, the process is great, but there can always be improvements. This will allow the proposers to get the information sooner and to make improvements on their proposal. Developing a tool that shortens the process in relaying information to the CA's and Proposers. They address the challenge in a way that can be understood by most people.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1448
Total QA Ratings
6
QA Rating Outcome
Confirming your humanity

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Feasibility

4.4 / 5
5 Reviews

Given experience and plan presented is likely that this proposal will be implemented successfully?

Community Reviews (5)

Commenter gravatar

According to the information provided, the Founder team has varying expertise, namely: Full-stack developer; Project manager; Community manager; Data analysis; Dev team maker; Software product manager and Business owner. Each with more than 10 years of experience. That I believe is a sufficient team to implement this proposal successfully. The technical solution provided namely;- building audit tool, creating a database of proposers and proposals for many years to come. In addition to the official update from Catalyst through Funds, in the long term, the team would like to analyze this source of data on the basis of big DATA with simulation algorithms. According to this team ,this will, in the future, help create a reference source for Cardano's DAO formation and governance. This is a good and feasible plan that is implementable

Build APIs pool. Architecting and building the original database. Realization of statistics on the web. Functions to review and classify proposal according to established criteria. The virtual reward model in the system is almost similar to Catalyst's current reward mechanisms. Essential statistics and indicators for Ideascale.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_664
Total QA Ratings
7
QA Rating Outcome
Confirming your humanity

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Based on the proposal the proposer and their team have various skills and experience in different aspect considering all this it's safe to say that the proposer and their team has required expertise and experience to implemented this proposal successfully. The proposal consists of a very detailed budget breakdown taking in account of all the requirements. The budget demanded seems very sensible to reach the set targets. The proposer have provided a clear roadmap with a timeline and the timeline looks practical to complete the proposal. The proposer has taken into account of all the resources required to complete the work. The proposer has taken in account all the possible challenges and risks that may affect the successfully implementation and they have also provided mitigation to resolve the challenges and risks. Based on above observation it is highly likely this proposal will be implemented successfully

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_419
Total QA Ratings
7
QA Rating Outcome
Confirming your humanity

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The authors of the proposal, as well as the team, have solid experience and training necessary for the project development. Their competencies were clearly presented and evidence-based. In addition, it takes advantage of the space of the proposal to position team members regarding their obligations.

On the presented plan, following the quality of the proposal, it was divided into two blocks. One with a lean and general definition of the main deliverables. Another with a detailed roadmap. In the last one, the main activities were pointed out.

In addition to the plan, the budget is well divided and the pricing is well presented, including the estimated number of working hours.

About the plan, I believe that some information has been unclear. In the case of a tool, which no matter how much automation it has, it is expected to have an effort allocated to the maintenance and management of the structure for the period after that contemplated by the schedule. At this point, I believe the author can better elaborate on how this dynamic will work, what resources will be needed, and what is the plan for the tool past the final delivery.

As for the risks of the project, we have another well-presented explanation, based on the division between the identification of risks and the mitigation plan for them. One that can be better clarified is about the possibility of hiring people to take over the operation in some aspects. As the budget for this was not included in the proposal, this situation can be better addressed.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1818
Total QA Ratings
6
QA Rating Outcome
Confirming your humanity

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Roadmap launched in 6 months: first 2 months, develop Catalyst fund payment mechanism, set up process to code. The third month will design the website. From the 4th to the 6th month, it will be selected and sent to an authorized 3rd party to verify the mechanism. The proposed team has a clear step-by-step roadmap for full implementation. Budget for tool design 150 hours is $7,500; QA & testing 40 hours is $2,000 … They have given the costs for the technical part of software building, web, tool appraisal fees… But they have not given the cost of building the mechanism and the cost of choosing 3rd party evaluation although the roadmap may show this work. As such, the project may lack fund to operate. I see this as a risk when the project is funded. As for the team, there are specialties such as project managers, community advisors and IT experts with many years of experience. I see the project can be successful if financial risks can be overcome.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1632
Total QA Ratings
4
QA Rating Outcome
Confirming your humanity

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The team was able to give all of the names and resources necessary to prove the validity of their team. They all have lots of experience in the finance industry and also knowledge in the plutus language. This will help the team to carry out their goal and be able to understand the financial aspects of their proposal. They are aware of the risks of not being able to launch the mechanism, when necessary, but with the fund they will be able to work on it more.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1448
Total QA Ratings
6
QA Rating Outcome
Confirming your humanity

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Auditability

4.4 / 5
5 Reviews

Does the proposal provides sufficient information to assess and audit progress and completion?

Community Reviews (5)

Commenter gravatar

The team envisions being able to have a completed tool for proposal auditability that correlate released fund and project progress & project deliverable. Since the funding process is transparent, Catalyst fund will attract more talents to submit their idea. As a result, the number of proposal increases. Number of reports on project progress, project deliverable increases. Number for qualified deliverable increases. This is to be done through the development of a tool that is third party quality control process. This indicates that the team is open to audit as well and that is a good sign that they are likely to succeed

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_664
Total QA Ratings
7
QA Rating Outcome
Confirming your humanity

Write comment

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Commenter gravatar

The proposal does consist of a step by step roadmap with milestones and a timeline to achieve each targets. This will be very helpful to audit and to make sure the proposal is going as per the planned. The proposer have given metrics which will be to measure the success of the proposal. The proposal also consists of a complete budget breakdown which will be very useful while auditing the development of the proposal. It does contain a detailed clear explanation of the targeted issue and also the solution provided addresses the issue. Therefore from above opinion the information given in the proposal should be enough to track the development of the proposal and in turn should be sufficient to audit the success of the proposal.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_419
Total QA Ratings
7
QA Rating Outcome
Confirming your humanity

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Commenter gravatar

In the description of how the author will measure the project's progress, the points presented in the roadmap were used and percentages of execution were added, thus creating the project's milestones.

Regarding the reference of how the project's success will be, the author made an excellent correlation between the objectives achieved and their impact with the problems highlighted above.

One thing the author might consider adding to the proposal is the establishment of KPIs and metrics that will define the success of the project and the value it will generate for the community. Also, we know how the project team intends to monitor progress, but it would be interesting to let the community know how to access this information as, interestingly, their solution is still in development.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1818
Total QA Ratings
6
QA Rating Outcome
Confirming your humanity

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Commenter gravatar

The proposal team provided clear, complete timelines and result of the proposal. At the end of the project, they have a tool, web, the number of proposals reported progress can be increased, suitable for the challenge.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1632
Total QA Ratings
4
QA Rating Outcome
Confirming your humanity

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Commenter gravatar

The team did a really good job including the important information. They have kept the proposal concise while still highlighting the importance of this funding mechanism. The roadmap was able to give the CA's a good view on what the mechanism is going to look like and what the community can look forward to. This would really benefit the different proposers and CA's that are new to this funding system.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_1448
Total QA Ratings
6
QA Rating Outcome
Confirming your humanity

Write comment

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