Why is it important?

There is no best method for check DeFi and Dapps before starting. However, we can encourage "Honest project" after starting by Catalyst.

What does success look like?

The goal of this challenge is simple. When we succeeded to encourage good early DeFi and Dapps Project by Catalyst. This is enough.

Key Metrics to measure

Entry number of Dapps, DeFi, CNFT and other projects
The treat volume of ADA or other Crypto Asset in the Dapps ,DeFi, CNFT
How many project were encouraged by this setting.

We consider that the challenge setting and Catalyst Fund should be not only for future project but also already started project since the early project should be praised.

Challenge brief

Let's establish the guide for using Cardano Dapps, DeFi, CNFT and other project.

At least, community opinion with holding ADA is important.

This voting can not perform Twitter or other tools since the noisy voice from outside of Cardano project may include junk information. The Voting power proportional to ADA Hold can be good indicator of community opinion.

Of course, Catalyst is really good system, however, usually it's closed up the project before launching.

Sometimes, running cost is so heavy rather than initial cost. And good but non-catalyst funded project should be praised by community.

In this Challenge, the proposer should finish starting their project. But, this is not so tight.
The testnet, pilot version and be-ta version will be accepted, however, only white paper will not be accepted.

The users of each project can encourage through this chllenge.

One serious problem is "only small number of project started at Fund 8"

However, we consider in such case, we would like to thanks to these early project, which lead cardano DeFi, Dapps, CNFT project.

Any small project is Okay. Moreover, we hope through this challenge, the projects will be more active

by version up, debug or improve user interface based on user's opinions.