Please describe your proposed solution
The Reputation Engine Model will revolutionize the way users interact with IdeaScale and Lidonation. By analyzing historical data and user activity, the model will assign trust scores to participants based on their past contributions, reviews, and behavior within the platforms and also for the new users. These scores will serve as indicators of trustworthiness, capability, and feasibility, enabling more informed decision-making by platform reviewers, voters, administrators, funders and anyone on the system.
Even the users can indicate their Reputation score in their proposal to show their capability.
Key Features:
- Trust Score Calculation: Utilizing learning algorithms, the model will calculate trust scores for users, considering factors such as proposal success rates, reviewer feedback, and community engagements and more.
- Predictive Analytics(optional): Leveraging historical data, the model will employ predictive analytics to forecast the likelihood of proposal success, identifying high-potential projects and mitigating risks associated with low-quality submissions.
- Real-time Monitoring: The Reputation Engine will continuously monitor user activity, updating trust scores dynamically to reflect changes in behavior and performance all the time.
- Transparency and Accountability: By providing transparent metrics and insights into user reputation, the model will promote accountability and integrity within the Cardano community, fostering a culture of trust and collaboration.
Proposed Solution
To address these challenges, our proposed solution involves a comprehensive research approaches:
The first and foremost is Research:
Utilizing data from previous funding rounds up to Fund 8.9,10,11, we will conduct a thorough analysis. Leveraging Catalyst Testnet, Ideascale Platform, Milestone Reporting, and Community Reviewing data, we aim to:
- Establish correlations between reviews, voting decisions, and proposal outcomes.
- Develop a knowledge graph and perform a graph/network analysis to identify quality reviewers and voters.
The current and latest initall dataset of lates fund 11 can be found ‘https://docs.google.com/spreadsheets/d/1R-wytihG4fKR_E1hvSh8CWbYajo8dLcOezogxJ_7OSU/edit#gid=0’ and also
on the platform looks like this:
Upon successful implementation of the Proof of Concept, we will engage the Cardano community to gather feedback and refine the reputation system further. Community engagement is vital to ensure the system's alignment with the needs and preferences of Catalyst stakeholders. This phase will involve:
- Soliciting Feedback: Actively seeking input from community members, including proposers, reviewers, voters, and platform administrators, to identify strengths, weaknesses, and areas for improvement in the reputation system.
- Iterative Refinement: Using community feedback as a guide, iteratively refine the reputation system to enhance its effectiveness, usability, and acceptance within the Catalyst ecosystem.
Blockchain Integration:
As part of our long-term vision, we aim to integrate the reputation system with the blockchain in future phases. Blockchain integration offers several advantages, including enhanced security, transparency, and immutability. The integration will involve:
- Smart Contract Development: Designing and implementing smart contracts on the Cardano blockchain to manage reputation data securely and efficiently.
- On-Chain Reputation Calculation: Leveraging blockchain technology to perform reputation calculations in a decentralized and tamper-proof manner, ensuring the integrity and reliability of the reputation system.
Over all we aim to establish a robust Merit Based reputation system that enhances decision-making, fosters community trust, and drives the success of high-quality proposals within Catalyst. Let's work together to build a more transparent, inclusive, and effective governance framework for Cardano's future growth and development.
Importance of Reputation Engine
What are the goals of the reputation tool?
- Building Trust and Credibility
- Ensuring Quality Control
- Facilitating Informed Decision-Making
- Promoting Community Engagement
- Mitigating Risks and Disputes
- Fostering Feedback Loops
More on The Benefits of Decentralized Reputation Systems can be found Here on Linkedin
Therefore implementing a reputation system is not just a feature enhancement; it's a strategic investment in building a robust, trustworthy, and sustainable community ecosystem. By incorporating a reputation system into ideaScale and Lidonation platforms, we can ensure that they remain vibrant, inclusive, and effective tools for driving innovation and collaboration within the Cardano ecosystem.
Evaluations of Fund 10 show:
- Less than 15% of registered wallets voted
- Only 15% of voters voted for 1 proposal
- Only 22% of voters voted for more than 25 proposals (that is only 2,8% of total registered wallets)
Source: https://twitter.com/LidoNation/status/1709916495550030191
Evaluations of Fund 11 Cardano Catalyst Announcement show found HERE: