We aim to design a rapid funding platform (AdaQuad) for Cardano Catalyst and other DOAs in the Cardano ecosystem.
Since Rapid Funding will necessarily involve smaller segments of the Cardano Community than the current quarterly voting system, accountability and transparency is a crucial problem to solve. A solution to this problem is to require public donations in the proposed projects.
<u>AdaQuad</u> works as a crowdfunding site that seeks to support innovative projects on Cardano Environment.
To study and design a swift Quadratic Funding Platform (AdaQuad) for the Catalyst Community that could provide an alternative treasury management system that can be rapid, open-ended, asynchronous, and focused.
Project Plan and Outcomes
AdaQuad will be a 6-month project with 3 2-month phases to prototype the crowdfunding capability. Proposals will be submitted for F7 and F8 to support testing and launch of AdaQuad.
Phase 1: Month 1 & 2
- Investigate and develop a balanced and diversified funding protocol/platform. In this platform, each sponsor (AdaQuater) can donate (fund) his preferred proposals.
Phase 2: Month 3 & 4
- The platform will be designed to promote funding and coordination of future Cardano Community creative works: products, solutions and open technologies. Proposals would be funded employing the Quadratic Funding method that provides a balanced and diversified voting influence. Donations will be matched by the Cardano Rapid-Funding Treasury using the Quadratic Funding mechanism.
Phase 3: Month 5 & 6
- Implement a Quadratic Funding mechanics to ensure that dominant cliques and/or individuals do not gain oligarchic decision-making control in AdaQuad Rapid Funding Platform. In this Quadratic Funding method, the Cost of Voting (CV) is quadratic on the number of votes (NV): CV = NV*NV.
Staffing & Budget
Principal Scientist - Design of Funding Mechanism, $6000
Systems Engineering & Management - Design & Manage Project Goals, $6000
Web Developer - Development of Website, $4000
Plutus Developer - Design of Smart Contract Implementation, $5000
Atala Prism Designer - Mechanism for Proof of Identity, $3000
Computing Supplies - $900
Total: $ 24900
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In this work, we investigate how the presence of individuals with strong voting opinions affects a network of social interactions based on the majority-vote model. We find that such a weighted voting mechanism weakens the consensus of the network, imposing a fragile social-ordered regime, where opposing voting states dominate.
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