Why is it important?
Catalyst has become very competitive and now experienced teams have emerged who pull a lot of attention. We need a challenge for new people.
What does success look like?
Get funded a cohort of teams and projects that have never received funding before in any previous round.
Key Metrics to measure
By the conclusion of the challenge we'll have:
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The number of teams funded for the first time.
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The number of new people added.
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The number of new GitHub repositories for new projects.
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The amount of TVL added by the new projects.
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The number of new communities created by the new projects.
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The number of new participants added to Catalyst from new projects.
Challenge brief
The challenge is meant to attract projects that have never been funded before. The aim is to create a space where only new people are able to compete without the added pressure of going against veteran projects.
At this time, most challenges are dominated by projects and groups that have a long history on Catalyst. They are able to leverage their experience to attract attention, voters, and community traction. It is great that Catalyst has fostered a veteran community, but going against such teams can be daunting for new people.
The teams requesting funds from this challenge should be comprised of a majority of people never funded. For example, if the team has 3 participants, 2 should be new and only 1 from a funded project. If the team has 5 people, only 2 can come from projects that were funded before. Also, individuals who have never received funding on any challenge before are welcome to propose.
The projects presented should be small in scope and manageable by a new team.
Each new team can request up to 25% of the total $200,000 USD budget, or $50,000 USD. All kinds of projects are encouraged to enter:
- Dapps
- DeFi platforms
- Community initiatives
- Hackathons and conferences
- Development tools
- Educational material
The main requisite is that new people enter the challenge, a space where they can compete on a more equal field.
