After reading thoroughly the project, I think this is a great idea of the proposer to create a Defi Protocol which tracks approximate inflation using an economic inflation-pegged token and to share profits from protocol activity with credentialed participants via a mobile wallet. I was impressed by good presentation, deep analysis with reference link and detailed technical solution explanation of the proposer. Also, the main token ($ECC) will be pegged to economic inflation data from on-chain oracles like Wolfram Alpha and Chainlink. The proposer is working with ProofSpace to provide the identity layer with eventual Atala Prism backend. From what the proposer shows, I think he understands of the macro economy, know exactly what he is doing and what he need to working with or partnerships to utilize the resources and maximize the effectiveness and efficiency of the project. I think having this financial tool is very useful especially in this current volatile econonic situation.

The issue raised by the proponents is that Climate Change & COVID-19 continue to impact populations around the world, increasing existing inequalities and insecurity, and creating new rifts. economic, political, social and environmental. the creation of a Defi protocol that tracks approximate inflation using an economic inflation pegged token, sharing the profits from the protocol operation with SSI certified participants through a mobile wallet is Fit.

The proposed solution is to outline a pseudo-stable reserve currency protocol that will be pegged to the Consumer Price Index through on-chain exams. The DAO will be open source and a non-profit organization that creates social justice. The creation of a “false-stable reserve currency” could stave off inflation while providing those in need a potential source of basic income. The core protocol will be built on the Milkomeda C1 sidechain Using Milkomeda will make transaction costs lower, high throughput, faster processing speed than building directly on Cardano L1. In addition, it also significantly reduces the cost and time required to build the initial MVP. Proposal to provide sufficient images and stakeholders to implement the project. The special feature of the project is that everCrypt DAO promotes a dual token model, two distinct tokens with overlapping interests, each supporting the ultimate goal of everCrypt DAO. $ECC token is a price-of-living token intended to limit inflation and enable long-term predictability and interoperability of participants. The proposal also includes specific examples to make it easy for readers to understand how ECC tokens work. The proposal introduces two important risks: Third-party risks, Regulatory risk. and the solution they offer to overcome the risk is appropriate.

This proposal has could really increase the Cardano users through creating an incentive for people below the poverty line to receive a free universal basic income. Additionally, the token pegged to the consumer price index would be incredibly valuable. This would function like a stable-coin, but instead of being pegged to a US dollar which varies in relative value (inflation/deflation changes the cost of milk), it would be pegged to a variable cost of living index based upon multiple resources. This has the ability to absolutely transform how people see money by doing things that blockchain is really good at. Overall, the impact of this proposal would be huge for Cardano. Also, this proposal would also further the goals of cross-chain collaboration through strategic partnerships with projects developing on Cardano and other EVM based chains. Utilizing projects like ProofSpace, Snapbrilla, Gokey, etc would increase collaboration ecosystem wide. I think this proposal is one of the most-detailed I have seen.

The presentation of the problem is described in detail, together with the day-to-day problems. The aim is to reduce existing inequalities and uncertainties while addressing the new economic, political, social rifts. This problem can be solved by a Defi protocol that approximates inflation using a token associated with it. Profits from protocol activities will be communicated to certified participants. A well-developed schematic presentation has been included in which the content of the proposed solution is very clearly described. It will certainly impact the Cardano ecosystem as everyone needs transparency in the face of rising inflation. The makers of the proposal have offered a clear solution on how the proposed solution will be handled. Platforms will be used to reduce the given risks (ProofSpace, Snapbrilla,…). Doing this will make it easier to tackle the challenges ahead. This project will receive support from different angles. The risks have been clearly reviewed and included in the proposal. The aim of this project is to provide as much transparency as possible to the people.

This deep and wide collection of cross chain contracts and protocols has a real chance of bringing lots of Impact to Cardano, and possibly beyond. For starters, they are leveraging Milkomeda's EVM bridge to bring over a selection of smart contracts behind protocols such as Frax finance, Curve as well as interoperability with AlphaWallet on EVM. Within the Cardano ecosystem they are partnered with Proofspace, ClarityDAO, MADAO, Snapbrillia, and on the edge of the ecosystem they are leaning into both Djed for part of the collateral protocol, but also prepping the platform to work with Coti's Adapay. (And this doesn't even mention their collaboration with Chainlink and things like Truflation for oracle data on chain.)

All of this infrastructure adds up to a member managed DAO that sets and validates an inflation pegged stablecoin $ECC via a governance token $ECS which creates an investment opportunity (likely a place to "park" liquidity, though arbitrage will have its place in the protocol) that rewards all member participants with a nascent "UBI" payment or dividend, based only on membership secured by an identity wallet with DIDs. Scaling the platform in the future is included here with two additional phases beyond the funding sought here: Expanding Protocol to add marketplaces, and Feature Rich to add functionality through NFTs and other emergent ecosystem needs.

Because this proposal aligns perfectly with the challenge's goals of adopting cross-chain processes and tools, as well as collaborating as community with cross chain protocols, and because the proposal indicates multiple areas of impact on Cardano, particularly its Atala identity roadmap and token infrastructure, I rate Impact a full 5 stars.

“Since this is an idea that is already on the Ethereum ecosystem and this proposal brings it over to Cardano it fits the requirements of this challenge, the problem the team brought with this proposal is because of the impact from nature, so the prices of goods are increasing rapidly, in general, macroeconomic related to inflation. I can assure you that you spent a lot of time on the presentation of this proposal as it is very detailed indeed with well documented examples easy to understand the methods the proposal will provide using the protocols for Defi. Reading this presentation from the team recommended me as an adventure into the exciting world of technology. it is really perfect from the presentation that will adopt protocols like Frax Finance on Ethereum in action and especially will develop it on the Milkomeda platform, *the main purpose of this proposal would be to provide the community with a Defi protocol to track the release and issuance of FPI/FPIS token pairs on Milkomeda, to test and curb inflation the examples given are very close to reality as proposals funded in ADA coins can thus remain in value during the implementation of the proposal without worrying about the depreciation of the coin during the implementation period and affecting the Unnecessary lack of funds. The ambition and vision of this proposal will put the benefits of this protocol into practice with mobile applications for payments in partnership with the COTI payment platform. Many risks have been proposed to anticipate and mitigate against them. I hope this proposal will set the stage for larger migrations, looking forward to seeing a lot of proposals like this on the Cardano ecosystem. "

This is an idea proposal for a statistical tool to measure the relative inflation of world finance. Mobile apps, and using an economic inflation-pegged token. This is a great idea, but in my opinion it should be placed in the "Dapps, Products & Integrations" challenge rather than "The Great Migration (from Ethereum)". The visual presentation is very insightful and easy to understand for the reader, which is a plus for this project. Because it shows that he is seriously invested in understanding the problems he is dealing with and having clear solutions to them. Also he mentioned collaborating and getting market data through some oracle projects like Wolfram Alpha and Chainlink. He also has a good grasp of the financial information presented in the presentation. So I still decided to give the maximum score in this section.

The main goal of this proposal is to create a so called pseudo-stable token ($ECC) which would basically be a stable coin that would be corrected over time with a forecast of the inflation, based on multiple predictions made by external sources and using oracle solutions like Wolfram and Chainlink. Part of the development of this solution will be done using Frax Finance as a basis, which is a protocal built on Ethereum. The project also wants to include the concept of Universal Basic Income for those who need it, and integrate this with SSI via Atala PRISM, but it’s not clear how the beneficiaries would be selected, for how long, and all the other details. Also, it mentiones that there’s a treasury that will grow over time based on the delegation to multiple DeFi protocals using multisig wallets, and there’s going to be a mechanism for members of the DAO to suggest strategies and to receive bonus if their strategies result in profit for the DAO itself. They also want to include the option of payment in the everCrypt dApp by partnering up with Coti. Overall, this seems to be a very ambitious project, with lots of external sources and potential partnerships, and also using a pseudo-stable, algorithmic (since its based on Frax Finance) stable coin. To create this kind of project and stable coin, usually much more money is necessary than what is being asked in this proposal (~$150k). In general, I believe that if the project is successfull, it would have a greaet impact on the Cardano ecosystem, but the difficulty to implement such a project is considerable. Regarding challenge aligmnent, the project does not directly brings projects from Ethereum to Cardano. It’s actually forking an Ethereum project, doing the necessary modifications and creating a new one in Cardano, which it not exactly what is proposed in the Challenge. The proposer argues that DeFi users would be brought to Cardano if the project is successful, what is related to the Challenge. Therefore, this proposal partially covers the challenge KPIs. And based on the future goals presented here, this could be highly scalable and have a huge impact in the future. The identified proposal challenges are fair, but I believe that others will also exist that were not mapped, regarding the execution itself, as mentioned previously. Overall, due to the proposal’s complexity, partially alignment with the Challenge, the amount of work that would have to be done for it to be successful, I am not comfortable with giving a very high impact score to it, so I’m rating it with 3.

Dework.xyz tool will be used to manage and keep track of each main task for each phrase in the project. I think this is a very good tool like Miro and Jira for checking project development. Moreover, clear KPIs is set for each main goal for each phrase such as the launch of Defi protocol testnet, mobile app, 10,000 app downloads, 1,000+ active member on Discord,….After all, the goals are consistent throughout the project. I support this project and hope it could get funded.

project owner success is to ensure equal opportunity and reduce inequalities in outcomes, including by eliminating discriminatory laws, policies and practices and promoting appropriate laws, policies and actions. appropriate in this regard. Improve regulation and supervision of global financial markets and institutions and strengthen their implementation strengthen representation and voice for developing countries in decision-making in global international financial and economic organizations. Facilitate orderly, safe, regular and responsible migration and movement of people, including through the implementation of well-managed and planned migration policies

Encourage financial flows and official development assistance, including foreign direct investment, to Countries with greatest need. By 2030, reduce the transaction costs of remittances to less than 3% and eliminate remittance corridors that cost more than 5%. KPIs are given to perform the appropriate levels in accordance with the successful progress of the project. Websites, links, social networking sites so that the community can track the implementation and success of the project are publicly transparent and easily accessible. This is a new project, but with careful preparation and specific plans, it can be expanded. This proposal fits the challenge perfectly.

There are clear and transparent metrics for the project. This includes public testing of the coins. There is also an existing discord server with an active community. There are also plans for developing a public governance system. These are both signs of an open project with clear public auditability. The proposer has put serious effort into the proposal and has made clear steps to ensure this proposal can be approved. There is sufficient detail and transparency to assume this project will be successful so far as the team is involved. There is clear effort put into every section of the proposal and in my mind I think this should be approved and funded this round.

A very extensive roadmap has been included with clear milestones for the realization of this project. The submitter offers a lot of transparency about how everything will go down in detail. KPIs are clearly included for each phase to measure success. These are all clearly measurable. The creator of the proposal has a clear vision of what success looks like in his eyes. I think you can aim higher than 1000+ members. I'd rather go have about 10,000 members. The description of the intended problem is very clearly included. The solution that is offered is described in great detail. You can follow in detail how everything will happen. This proposal will certainly be a good solution to the problem. I therefore very much hope that this proposal will be financed.

Because the core buildout is a series of smartcontracts and and a DAO governance protocol to govern them, you would expect to see community structure in place, and that is what you will find at the everCrypt DAO discord server, where tons of documentation and suggestions for onchain oracles, EVM contracts and protocols are already populating the threads. The founder has also been a regular contributor to Swarm sessions and breakout rooms as he has built connections in the Cardano and Catalyst ecosystem.

For tracking work it needs to be remembered that as a community protocol, many of the jobs of the build will be part of the community. The proposer indicates using dework to track task completion (dework is a kanban style management platform with wallet integration for distributed community work in DAOs), as well as Miro and Jira, and all platforms give transparency with the right settings. Also, not mentioned in the auditability section, is the Snapbrillia partnership, which has a work management/identity component as well, so that should add another layer of tracking and transparency.

Four core deliverables have been included for the first 6 months of the project, and four more are listed for the second phase of 6 months and all are concrete, tangible results that can be measured. The proposer has included early evidence of work started, in particular the proofspace integration for onboarding users (and this makes sense since community is both a deliverable and the source of future production).

Between the list of deliverables and the itemized list in the timeline/budget, I believe that this proposal will have a high level of transparency to the community, and plenty of auditable beats that keep time with the monthly reporting, so a full 5 stars for Auditability.

"This proposal will get funding from the ICO to continue developing for the future proposal so there will be no need to return to the Cattalyst fund I appreciate this option, there are a lot of progress and success metrics so the community can check them out but if possible the team recommends considering writing a phased report which would be great for transparency"

Dework.xyz, Miro, and Jira are tools they refer to as tools for managing and tracking work. To me these tools are clear enough for the community to be able to track their progress. And in this section, they have set numerical goals that they want to achieve specifically: 100k discord members within 3 months, TVL reach 50 million USD by the end of year 2 after mainnet. Along with that is the commitment to create synchronous applications on mobile devices and web3. This presentation is basically consistent with the entire content of the 2 sections above and is clear enough to convince me to give the maximum score.

The proposer adds 4 milestones for each of the phases, and proposes to use them to keep track of the progress of the proposal. This is not ideal, since only after 6 months of funding, the community would be updated regarding the progress of the proposal, and by the time, $75k would already have been payed by the treasury to the proposer. The same happens to the second phase, 6 more months until new milestones could be verified. Ideally, the proposer should include monthly verifiable milestones or KPIs, since the reports to the Catalyst community are based on this pace. The success definition of the project is good, even though it doesn’t cover everything that’s being proposed to be developed, and some of the items included here are not going to be verifiable until after the proposal is closed-out, for e.g., “1. Achieve a TVL of $50 Million USD by end of 2nd year of mainnet launch”. The information regarding auditability of the proposal is ok, but some modifications based on the comments above could be made to improve it in case of a future ressubmission.