Nothing came up for

Retroactive Financing Experiment

$26,625.00 Received
$71,000.00 Requested
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Problem:

集体决策受到社区所能获得的信息和专业知识的限制,如果不加以控制,会导致错误的分配。

挑战: F7: Catalyst - Rapid Funding Mechanisms
funded Awarded 28.4% of the fund.
Proposal Assessor Reviews:
4.6 (24)
Yes Votes:
₳ 110,614,167
No Votes:
₳ 6,090,730
Unique Wallets:
563

经验

金融软件工程、私募股权、初创企业、影响力投资。Plutus/Prism先锋,共同组织东部城镇社区。

解决方案

对有条件的融资机制进行试验,以帮助探索和了解快速融资方案。

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Detailed Plan

Accelerating funding to take a proposal from an idea to a self-sustaining project, community group, or business is important to the growth of the Cardano ecosystem. The more successful solutions we can discover, the more likely we'll bring economic identity to 1+ billion people.

To solicit, propose, filter, and fund projects in Catalyst we currently rely on volunteers to drive participation in direct democracy. Unfortunately, direct democracy does not scale.

Making decisions through voting mechanisms alone is limited by the information, knowledge and expertise the community has access to. Catalyst for instance has a high participation cost. The relentless pace, language barriers, and technical nature of many proposals in Catalyst limit our ability to make effective decisions. The average voter casts ballots for 5 to 10 proposals and large Ada holders (Whales) can easily swing the outcome [1]. These factors can limit our ability to efficiently allocate the treasury to high-value proposals. Implementing rapid funding alternatives without careful consideration, or increasing the number of proposals without considering the limits of information distribution, may lead to structural misallocations of capital.

The Catalyst ecosystem encourages collaboration and, as the Cardano ecosystem has grown, loosely formed global teams have emerged. Open-source projects and the Catalyst Community rely on community contributions. Catalyst Swarm, Catalyst School, and the Eastern Townhall are examples. These teams are inspired to help solve vexing problems that are either technical in nature or address real-world problems, often both. Project Catalyst's success to date is a testament to the community. While we have bootstrapped collective action, volunteerism alone cannot and should not be relied upon [2][20].

Market mechanisms can and do provide a scalable alternative to these challenges. When combined with blockchain and smart contracts, radical market mechanisms[3] enable low-cost and transparent ways to quickly fund, monitor and audit the capital deployed to innovative projects or community efforts. Plutus Smart-Contracts unlock a toolbox of market-oriented grassroots financing options that should be explored as alternative methods for financing discovery.

Risk-Adjusted Bonding Curves (RABCs) are a mechanism specifically designed to help with financing uncertain projects in open ecosystems. They are an advanced conditional financing instrument made possible by Smart-Contract on Blockchains.

RABCs implement a type of Impact Bond[15] to drive performance-orientated investment via retroactive project funding. Conditional financing mechanisms will ensure projects with highly uncertain outcomes are retroactively funded only when they are successful.

The core mechanism is scalable; working equally well for small funding needs or when funding requirements are in the millions.

The design is applicable to innovative project scenarios: social or environmental change; science; early-stage and seed-stage technology start-ups; internal corporate project budgeting; DAO funding and coordination; leveraging community grants (e.g., Project Catalyst); art; and many different public good production situations.

RABCs have been researched and developed as impact finance instruments by Shruti Appiah[21] and the team at Blockscience [4] The community has funded the development of RABCs [5] on Cardano.

As a new method for funding projects, we need to validate the technology, build experience and gain knowledge using real-world scenarios. Our proposal's purpose is to inform the implementation of the RABC as a scalable long-term solution for discovering and funding successful projects in Catalyst, DAOs, and for impact finance, across the Blockchain ecosystem.

Team & Experience

The coordinating team has experience in financial markets software engineering, product management and design, tech start-ups, private equity and impact investing. Team members are also active in organising a legal-tech community and the Catalyst Eastern Townhall.

Robert O'Brien: Distributed Systems Software Engineer (Financial Systems) and Entrepreneur. Co-Founded three start-ups in Financial Data Analytics, International Trade Payments, and Impact Investing. Plutus and Atala Prism Pioneer. Co-organiser of the Catalyst Eastern Town Hall, a Cardano Catalyst Community initiative.

Joanna Yeo: Private Equity fund manager in Asian capital markets with a focus on digital banking/financial inclusion. She has overseen and led investments for a $700M private equity portfolio and developed a fund business in Asia for Morgan Stanley. She has conducted research on international trade negotiations supported by the Harvard Institute for Quantitative Social Sciences and Stanford Institute for Economic Policy Research.

Max O'Brien: Product Designer with experience in UI Design, UX Design, User Research methods, Game Design and Product Strategy. Currently works for a leading cloud-based accounting platform for small businesses and has previously worked for start-ups, studios and a public point-of-sale company. He routinely conducts user research and uses their results and behavioural data to inform designs and product strategies to help everyday people accomplish their goals.

Paul Beattie: CEO of a remote-first company providing Cloud-based Enterprise Resource Planning (ERP) solutions to New Zealand and Australian medium-sized organisations. Optimising processes and assisting customer organisations to scale through efficiency. Experienced accounting software product manager and marketer.

Tevo Saks: Tevo enjoys documenting systems and procedures that will achieve specific goals in an efficient way. Active participant in Project Catalyst since Fund 1, Catalyst Swarm core member, experienced Proposer and Veteran Community Advisor.

Our Solution

The objective is to learn and understand how RABCs can be used to drive performance-orientated investment via retroactive project funding.

We will gain direct experience conducting small scale funding experiments. We will conduct a rapid funding trial, perform user research, and collect data. By conducting small scale funding experiments we are seeking to leverage the knowledge and expertise of the Catalyst community to help discover and develop rapid funding mechanisms.

The requested funds will be used to set up, conduct and fund projects using the Risk-Adjusted Bonding Curve market mechanism. A small "sandboxed" token market will be established using a prototype implementation of the RABC and deployed on a testnet. Community members will interact with the experimental market using a prototype mobile App. Members of the community will be invited to invest in proposals using airdropped testcoins.

Proposal Archetypes

Social and environmental impact-focused proposals will be developed with members of the Catalyst Community. These mini proposals must each be completed within three months and require $3,000 to $5,000 USD funding.

Funding Experiments

The experiments will be conducted on a testnet using testcoins, but actual Ada will be used to fund proposals and reward participants. The reserved treasury funds (actual Ada) from this proposal will back the value of the testcoins and enable conversion. Reserved treasury funds will be converted using a one-to-one peg, one testcoin for one Ada. Conversions and disbursements of actual Ada will be done manually by our team, creating a controlled, sandboxed environment to experiment in.

Project teams receive funding by drawing down from their proposals' reserves; normal RABC behaviour. In the proposed experiments, sponsored proposals will have their reserves initialised with 20% of their funding requirement. An RABC creates a continuous market for project tokens, the remaining funding for project activity comes from transaction fees associated with trading activity. As investors speculate on the probability of success or failure they trade in and out of the project's token. The associated fees are used to fund the project's team in the same way Cardano transaction fees fund the Catalyst community treasury.

Only investors that hold a position in successful proposals are compensated when a project completes. Using RABC based Impact Bond[15], reserved treasury funds (actual Ada) will only be paid to successful proposals in the experiment. On success the proposal's reserve receives the nominal value of the proposal (the remaining amount requested for funding) plus a coupon payment (i.e. a bonus for success) of 20%, both denominated in Ada. Holders of the project token (the investors and project team) may then convert their tokens back to Ada at a fixed rate. The payment creates an incentive for participation in the funding experiments where methods of valuation are similar to Commercial Paper Fixed Income securities. Investors will also ascribe value to the testcoins they are investing with, creating a realistic environment for the experiments.

Testing both successful and unsuccessful funding scenarios is important, so selected proposals must have a reasonable level of uncertainty in their proposed outcomes. Safe bets in the experiment don't leverage the Catalyst treasury or require market mechanisms such as RABCs.

Describing Proposal Outcomes

Project Catalyst's purpose is to discover what the community values; input crowd, output meaning! As an approximation, Catalyst aims to progress the three pillars of Cardano's vision:

  1. Bring an economic identity to those without it.
  2. Be a social financial operating system that enables economic identity.
  3. Empower self-determination of the network and surrounding ecosystem.

Progress in Catalyst is defined by reference to Return on Intent (RoI), a term that emphasises the discovery and experimental orientation of Catalyst's process. To apply RoI, we reframe the discovery process as an impact investment problem, managing intention by measurable Objectives and Key Results (OKR). We aim to leverage, with small reinterpretations, the extensive value measurement and reporting work developed by the Impact Management Project (IMP) [6][7]. Impact investments are made with the intention to generate positive, measurable social and environmental impact alongside financial returns, which maps closely the thinking required to achieve Cardano's vision.

Our initial mini proposals will focus on delivering social or environmental impact. Part of the experiment design is to assist and coach teams to develop suitable proposals and describe their objectives and key results according to the IMP framework.

In the early experimental phase, progress toward objectives will be managed manually, via spreadsheets, similar to funded cohort reporting in Catalyst Coordinator, albeit with a higher reporting frequency. Our intention is to automate the reporting as we build out the necessary tools in future work.

Selecting Proposals

Published proposals enter a selection phase. Using a simple Commitment Voting mechanism [8], investors bond testcoins to proposals they think are worth sponsoring. If enough investors commit to a proposal, it is elevated to a "sponsored" status and investor testcoins are locked into the proposal for the first two weeks of trading.

On a first-to-finish basis, this proposal's funding will pay out on three successful proposals with a maximum 20% coupon rate. Up to eight proposals can be sponsored assuming a conservative 60% failure rate.

Determining Success

Successful completion is self-declared.

Project teams regularly report their activity, inputs, and outputs that demonstrate progress toward their stated objectives.

A proposal team can declare success by meeting its objective before the targeted completion date.

However final judgement will be determined by the team running the funding experiment.

If a negative judgement is made, teams are not given the option to continue and the proposal is deemed to have failed.

A project also automatically fails when it passes the targeted completion date without meeting its objectives.

For the moment, the funding experiment in general is operating in a high-trust environment so there is some flexibility around success and failure built into the experiment; in future iterations, that assumption will be relaxed and the criteria more tightly defined.

Impact on Challenge Metrics

This proposal will have a significant impact on Project Catalyst. The RABC is an essential building block for grassroots DeFi and RealFi (trade, social and environment finance). Many aspects of project funding for Catalyst or DAOs, including team accounting and compensation systems, will also benefit. We'll adopt an impact investing approach to reporting and measuring proposal progress, importing the IMP framework to lay the groundwork for multi-capital accounting [9]. Most importantly, it will allow Project Catalyst to scale.

Project Catalyst is framed as an experiment - "things may break, things might change with each iteration." It started small and increases with each iteration, with shortcomings continually being revealed and adapted to. But as the number of proposals increases, those learnings are disappearing in the fog of administration.

Complementary approaches that surface and distribute richer information need to be explored with the same spirit of experimentation.

The results of our experiments into retroactive rapid funding (both the design and execution) will lay the groundwork by:

  1. Establishing a precise definition of Return-on-Intent;
  2. Providing perspectives and insight to funded cohort reporting and learning.

In toto, this proposal will provide insights on how to use RABCs to provide low-cost transparent, accountable methods to manage many thousands of pools of funds and intertwined programmable value streams.

Key Performance Indicators

Key Metric: Activity-based on the Orbit Presence [10] metric to measure CHAOSS Project Popularity (which measures community interactions/value). The scope of interactions and value is augmented with Defi metrics. Orbit Presence will be defined over the run of the funding experiments:

  1. Number of mini proposals worked on and published
  2. Reaching the target objective of eight sponsored proposals
  3. Daily Trading Volume (DTV) - Measure of activity.
  4. Total Value Locked (TVL) - Measure of confidence in proposals.
  5. Daily Active Wallets (DAW) - Measure of momentum and engagement
  6. Average Order Value - Measures who are investing, how much and how often.
  7. The ratio of successful/failed proposals.

The DeFi metrics above aim to capture the different dimensions of speculative activity. Sponsoring proposals that fail, for instance, is important to learn about failure modes. Using RABCs, the sponsor pays out only on success; therefore understanding failure modes and what drives speculation around success or failure are important aspects of the overall experiment's design that we want to encourage. It may seem counterintuitive, but the RABC mechanism harnesses speculation for good; financial speculation funds project activity and helps monitor a proposals' health. Therefore a 100% success rate for sponsored proposals would be an experimental failure!

Community Contributions: The RABC mechanism provides incentives for investors to monitor and audit project activity. Therefore community contributions especially around mini proposals and active discourse around the progress of sponsored proposals are important to understand. We will measure contributions according to the Orbit Love[11] metric and codification of contributions will follow the Community Engagement Framework [12]. Specific tools, types and weights have yet to be determined.

Activity Metrics: Project Velocity [13], defined as a combination of base activity designing, setting up and running the experiments, and measuring the overall market activity. We are using Github Issues and Project Boards to track project tasks/activity of the proposal teams and also to help with collaboration outside of the team. Closed Github issues and their codification (naming semantics and labels) measure project activity.

What Success Looks Like

Our proposal will contribute to Project Catalyst learnings around using smart-contract market mechanisms to efficiently discover, finance, and fund projects. At the completion of the experiment, members of the Catalyst ecosystem will have a clear understanding of what Return-on-Intent is, how to measure it, and how we can monitor and audit progress towards proposal objectives.

The experiments will contribute specific insights on the use of RABCs as a funding mechanism. The process of proposal design and specification, how the community manages success and failure scenarios, and market performance will all inform the design of the Risk-Adjusted Bonding Curves and related services.

After One Month:

  • Specification of the funding experiment and execution plan developed.
  • Services configured to help monitor and track our primary metrics.
  • Website and content (blog posts and video content) developed to help explain the RABCs and the experiment.
  • Plutus-Application-Backend (PAB), RABC code, testnet configured, testcoins minted.
  • Recruitment of proposer teams, and community investors have started.

After Three Months:

  • Proposer Teams recruited.

  • Mini-Proposal workshops have been conducted and proposals published.

  • Testcoin airdrop completed.

  • The funding experiment is underway, starting with the selection of sponsored proposals using commitment voting.

After Six Months:

  • Three sponsored proposals successfully completed and payouts were made.
  • Funding experiment completed and findings reported.

After Twelve Months:

  • Two more funding experiments have been conducted using larger funding amounts, more proposals, and more investors.
  • Funding proposals in an open market are live on the mainnet.

Licensing

All our source code will be licensed under a free and open-source (OSI) licence e.g. MIT, and contributions must be contributed patent-free. Contributors will be required to agree to a Contributor Covenant[14].

Published content will be licensed under the Creative Attribution-Noncommercial-ShareAlike International (CC BY-NC-SA) Licence v4.0. The specification will be published under a Creative Commons Attribution-NoDerivatives 4.0 International (CC BY-ND 4.0) licence.

Code, documentation, project activity and Jupyter notebooks will be made available on Github or similar service.

Budget Breakdown

The requested Fund 7 budget is for wages and expenses for six months. Forty percent of the budget (40.2%), or $28,500USD, is reserved for developing and funding the mini-proposals in the initial experiment. A component of that budget is allocated to running mini-proposal workshops to help teams develop their proposals to a necessary standard. Funds will be requested to perform further funding experiments that finance a larger number of proposals and higher budget ceilings.

The remaining funds for this proposal are to be used to design, set up, run and manage the experiments along with measuring and reporting the overall market activity.

  • Experiment Planning, Design and Setup: $10,000 USD (14.1%)
  • Content Development: $2,500 USD (3.5%)
  • Community Management: $11,000 USD (15.5%)
  • Mini-Proposal Workshops: $6,000 USD (8.5%)
  • Funding experiment execution: $8,000 USD (11.2%)
  • Project Management: $6,000 USD (9.1%)
  • Reserved funds for sponsored proposals: $8,000 (11.2%)
  • Reserved funds for successful proposals: $14,500 (20.5%)
  • Software Services & Server Fees: $750 x 6 months = $4,500 (6.4%)

The success of the funding experiment hinges on Catalyst community involvement. The newness and experimental nature mean there will be plenty of direct community engagement over the lead-up to and execution of the four-month process.

The budget is based on a pro-rata hourly rate, spread over four team members working part-time on the project. FTE hourly rate of USD$100 includes all overheads; Adjusted for experience, nature of work, and short term intermittent nature of project funding.

Affiliated proposals

DeFi+Catalyst🔥 Retroactive Finance [22] covers the work required to develop a prototype of a mobile application used by the experiment. The funding experiments can start only when sufficient progress has been made on the prototype mobile application. If the retroactive funding user experience proposal is not funded by the community, then we will evaluate our options for progressing without the mobile application.

The proposal builds upon and validates the work of the Retroactive Project Funding SDK (Fund6) [5]. The work will provide insights for the ongoing work of the Give Users security and confidence (Fund6) [16] project. Many steps leading to the activation of the RABC market mechanism can run in parallel to the development of the RABCs. We will time the proposal's execution to coincide with the RABC development roadmap and activate the market when stable test implementations of the RABCs become available.

Distributed Treasury Building Blocks [17] are the foundations for the Retroactive Project Funding SDK.

The technology and experimental insights will also help the Distributed Autonomous Accelerator [18] proposal.

Proposal Workshop [19] goal is to create an educational onboarding mechanism for making proposals. Retroactive funding of projects is well suited to proposals that progress through the Proposal Factory workshops.

References

[1] Diversify Voting Influence F4: <https://www.youtube.com/watch?v=PnHvoZwhIwY>

[2] Griff Green : Our Collective Psychosis around Public Goods: <https://www.youtube.com/watch?v=PFy458wCQ0g>

[3] Radical Markets: <https://press.princeton.edu/books/hardcover/9780691177502/radical-markets>

[4] Risk-adjusted System Dynamic research: <https://github.com/BlockScience/Risk-Adjusted-Bonding-Curves>

[5] Retroactive Project Funding F6: <https://cardano.ideascale.com/a/dtd/Retroactive-Project-Funding-SDK/369011-48088>

[6] Impact Management Project: <https://impactmanagementproject.com/>

[7] Impact Management Platform: <https://impactmanagementplatform.org/actions/organisations/measure-sustainability-performance/>

[8] Commitment Voting https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3742435

[9] Multi-Capital Accounting and R3.0: <https://www.r3-0.org/>

[10] Orbit Presence: <https://github.com/orbit-love/orbit-model>

[11] Orbit Love: <https://orbit.love/>

[12] Community Engagement Framework: <https://communityroundtable.com/best-practices/thecrs-work-out-loud-framework/>

[13] CHAOSS Project Velocity <https://chaoss.community/>

[14] Contributor Covenant: <https://www.contributor-covenant.org/>

[15] Social Impact Bond: <https://ellierennie.medium.com/how-to-improve-karl-and-vitaliks-really-good-idea-d49ee6dca60d>

[16] Give Users security and confidence: <https://cardano.ideascale.com/a/dtd/Give-Users-security-and-confidence/369892-48088>

[17] Distributed Treasury Building Block: <https://cardano.ideascale.com/a/dtd/Distributed-Treasury-Building-Block/384907-48088>

[18] Distributed Autonomous Accelerator: <https://cardano.ideascale.com/a/dtd/Distributed-Autonomous-Accelerator/382562-48088>

[19] Proposal Workshop: <https://cardano.ideascale.com/a/dtd/Treasury-for-Mini-Proposals/383495-48088>

[20] EthCC4 Vitalik Buterin : Things that matter outside of defi: <https://youtu.be/oLsb7clrXMQ?t=598>

[21] The Future of Decentralized Finance: https://www.youtube.com/watch?v=vzsUSG5CSj0&amp;t=180s

[22] DeFi+Catalyst🔥 Retroactive Finance: <https://cardano.ideascale.com/a/dtd/DeFi+Catalyst%F0%9F%94%A5-Retroactive-Finance/385032-48088>

社区顾问评论

Addresses Challenge

4.3 / 5
8 评论

Does the proposal effectively addresses the challenge?

社区评论 (8)

Commenter gravatar

No. and this is why–> this project is for a series of worthy experiments, not either for directly accelerating funding or enabling technology to do so. This is a important learning proposal and as such it doesnt not :"Increasing the speed of funding is critically important to allow important projects to move rapidly from volunteers to paid professionals. While volunteerism is strong in our community (and a strength), the ability to pay people for their time will accelerate and dramatically improve the time and energy people will be able to devote to Catalyst."

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

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z_assessor_701
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20
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Brilliant idea, a DAO that creates DAOs, I valued a similar project in the DAO segment. The project is framed within the objectives set out in the challenge. In the argumentation, the project details the difficulty of selection, the financing times and proposes to create a platform to experiment with different proposals. Although the scalability of the project is possible, the most interesting thing is that it will allow finding a project that potentially makes Cardano scale. It is open and auditable, and the licenses will be open source. I can't wait to see it go live as I have an idea to experiment with on your platform. I am eager to see it work.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

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z_assessor_743
Total QA Ratings
16
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Good
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This is an interesting project to run a funding experiment. Under this system, projects will be monitored by speculators who will trade in project tokens which pay a return only if the projects are successful. Its a way to leverage speculators to monitor projects success. My biggest worry here would be inside information. There is the potential for project participant to trade in their own tokens buying before good news is published and selling out before bad news is published.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_11
Total QA Ratings
27
QA Rating Outcome
Good
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Ok, let's help the voter to navigate between the dense lecture: more velocity means more probability of fail, disaster, collision, etc. That's true in everything: universe, nature, physics and, of course, a social science like finance. And, like in the universe, creativity, innovation and ideas abound all around us. But wait: nobody says good ideas, winner ideas. This kind of ideas live in a mix of supergood, good, regular, bad and very bad ideas. However, it's the duty of any organization that wants to survive and evolve in something more special, find the way of hunt those good ideas in a ocean of ideas (and other skill hunters) while reduce its risk of selecting bad ideas (money, human and technical effort, the process itself is exhausting).

So, with that general scheme in mind, the proposal is focused on the reduction of risk by bad selection meanwhile puts the Cardano's treasury in position of "ride the winners".

I hope the voter does not be an anti-free market or anti-capitalism because, in its core, that's the basis of this proposal and, let me say it: It's absolutely neccesary explore this kind of alternatives. Someone has to put herself or himself in the grill and these guys want to make the job.

The basics of the logic behind the proposal and its exhuberant terminology are the following:

  • They want to create a market for the projects requesting funds. A market leaving inside the Cardano ecosystem, a market in which participants are the Cardano community. Proposers of the projects and potential investor in those projects will be members of the Cardano community.

  • The projects selected (guinea pigs of the experiment) will receive 20% upfront of the total funding requested (20% drawn down from the proposals budget) . The remaining, they expect will be financed by mr. Market and its dinamics.

-In exchange of their investment, the investors will receive tokens equivalent to the amount of the investment (in the same way of an investor receive stocks in a company).

  • Each penny investing in the mini projects will be backed for the budget of the proposal, in this way they backed the value of the investors tokens.

  • The proponents plan to develop a sample of 8 mini-projects, of which they expect to have 3 projects successfully fully funded (they remark that fact with total honesty). A success rate of approximately 40% in the world of mini-unicorn hunting is close to achievable (al little bit optimistic, but come on …).

Finally, I know, there is more details and profound characteristics in the proposal machinery. However, the market is the same animal in all the ecosystems and here we have a proposal based on market.

And as a market-based proposition, it is well known that risk is like energy: it does not disappear, it just transforms itself. In the case of risk, the risk is transferred to other stakeholders.

I feel that the intention of the proposal is not the insensible and in some cases, criminal transfering of risk, I feel the proponents search the honest and clean sharing of risk between the Cardano community and the Cardano treasury (I guess they know damn well they can go to hell if it's any other way) while create a method to connect our community with the innovation and creativity roaming the world. And we are an excelent home for that innovation and creativity without a family.

But the thing is, the risk does not disappear, and the selection of the risk (in this case, the selection of the mini-projects) deserves its own process, its own massage room. And that, I think, is the missing piece in the puzzle of the proposal. And of course, it's not about selecting the winning horse every time, it's about putting the odds on the side of the stakeholders (in the experiment scenario and in a future format of the experiment going forward), including the same proponents of mini-proposals.

I cited "Testing both successful and unsuccessful funding scenarios is important, so selected proposals must have a reasonable level of uncertainty in their proposed outcomes. Safe bets in the experiment don't leverage the Catalyst treasury or require market mechanisms such as RABCs."

Two things have to be clear: 1. Each project has uncertainty itself. It's simply the nature of the things. 2. Uncertainty is a variable that is not susceptible to manipulation (selling otherwise is a sin), so the proposal's approach in that sense is wrong.

The selection of the risk is the only way to have a decent relation with the risk.

Listen, even the Bowie bonds (David Bowie bonds) got a reality check.

In general, I think this is a proposal that deserves to be tested.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

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z_assessor_541
Total QA Ratings
16
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the great proposal, detailed.

I can see that after the experiment had a better idea on how to fund those with the potential can largely impact future fundings.

Also, there is another proposal with the same idea - finish a subtask and receive another part of a fund. I cherish both since it would increase the success of proposals, decrease bad players, and abuse/exploit the system.

Rating given 5.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

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z_assessor_54
Total QA Ratings
18
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The proposal seeks to conduct experiments with conditional financing mechanisms to help explore and understand rapid funding options. The proposal states that the Catalyst ecosystem encourages collaboration, and as the Cardano ecosystem has grown, loosely formed global teams have emerged, and volunteerism alone cannot be relied upon. Having gone through the proposal, the challenge is addressed effectively.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_688
Total QA Ratings
16
QA Rating Outcome
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The proposal identifies a problem within the challenge which needs to be solved and explained it in length providing good details. The proposal clearly articulates how it will add value to the Cardano ecosystem by experimenting with an innovative funding mechanism that could fit very well to catalyst model.
The key metrics and goals of the proposal are fully aligned with the outlined challenge settings. If this experiment is successful it will be a great solution to provide a rapid funding mechanism to proposals.

Being very active on Catalyst and an entrepreneur myself for 20, I can definitely see the value of RABC model to incentivize members to take actions/initiatives and get renumerated when successful.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_636
Total QA Ratings
21
QA Rating Outcome
Good
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This proposal addresses the catalyst funding challenge by exploring the use of risk-adjusted bonding curves and retroactive funding. This solution would be very good for the catalyst funding process because it reworks the current system and makes it faster and more reliable at a larger scale. In addition, it not only allows the community to remain largely involved with the proposal process, but it also helps find, finance, and fund new projects using smart contract market mechanisms. The potential impact of this proposal is huge: funds would be able to get to the proposers faster in a more decentralized manner.

There are two main goals of the experiment:

  1. "Establishing a precise definition of Return-on-Intent."
  2. "Providing perspectives and insight to funded cohort reporting and learning."

The results of these goals will allow catalyst to fund community projects and develop the cardano blockchain. Overall, I believe that this proposal will address the questions posed in this fund7 challenge and improve upon the catalyst funding mechanism. (score given: 5)

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_310
Total QA Ratings
21
QA Rating Outcome
Excellent
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Feasibility

4.8 / 5
8 评论

Given experience and plan presented is likely that this proposal will be implemented successfully

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The team is very impresssive, the technical requirements are well within the capacity of the team. The plan is sound and the output looks to be valuable.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_701
Total QA Ratings
20
QA Rating Outcome
Good
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We can know the names of the members of the work team. They describe a detailed budget of expenses for the first 6 months of work the amounts seem reasonable and the objectives are achievable.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_743
Total QA Ratings
16
QA Rating Outcome
Good
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The team is well designed, including all the required members for specific tasks.

These proposers are also known members of the community, therefore their creditability is high.

The plan is very detailed and reasonable.

Rating given 5.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_54
Total QA Ratings
18
QA Rating Outcome
Good
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Two things were dificult to find in the proposal:

  1. The total amount of the funds requested: after looking for the needle in the haystack, I found it hidden at the end of the proposal. Please put it clearly in a place before the Budget Breakdown section.

  2. Links to specific information about the work of each of the members of the proposing team.

On the other hand, the proposal requested around 30% of the total funds of the campaign. I would like to know if the proponents have contemplated the possibility of developing some aspects of the budget such as workshops, community management, experiment execution, in partnership with other members or teams in the community.

I think the proposal meets the requirements of a proposal whose implementation is feasible.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_541
Total QA Ratings
16
QA Rating Outcome
Good
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Based on the information provided, I believe that the proposers have the necessary experience and knowledge to successfully implement this proposal. Together, the team has a wide range of skills that will all be needed. Many of the proposers have previous experience with cardano catalyst, so they are familiar with the system they are working to improve.

The proposers provided a strong roadmap that spans a one-year period. This roadmap is ambitious, but not too ambitious that it will be unachievable. They will start with basic research for a month and then bring in the proposal teams to develop the funding process. Additionally, the budget seems reasonable given the amount of important work that will be put in by the proposers. (score given: 5)

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_310
Total QA Ratings
21
QA Rating Outcome
Excellent
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The team is made up of 6 experts with experiences and skills in financial software engineering, private equity, Startups, Impact investing, Plutus/Prism Pioneer, Co-Organizer Eastern Town Hall Community, and they are capable. The plan mentioned, among others in the proposal, that they will conduct small scale funding experiments; conduct a rapid funding trial; perform user research; Collect data. All these facts will lead to a successful implementation of the proposal.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_688
Total QA Ratings
16
QA Rating Outcome
Good
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Power team with complimentary relevant experience in addition to some team members highly involved in the community activities and well know the challenges of the funding process on Catalyst. Good info was provided about each team member and his/her relevance. The budget is well explained and broken down into identifiable items. The budget is reasonable for the work required, the quality of the team, and for achieving the set goals. The proposal offers a realistic timetable to complete the work. The plan describes the resources necessary to implement the proposal. The proposal clearly explains technical aspects that are crucial for implementation with good explanations and references for example for the Risk-Adjusted Bonding Curve. Although the subject is not trivial, the proposal is very well written and explained compared with the 10s of the other proposal review. It gives good confidence in the feasibility of the proposal. There are some risks as the full scope might have some complexity with the multiple elements (selection process of projects, voting, token market, mobile app) but starting as an experiment makes sense and I would recommend putting the most focus on the key elements you wish to prove.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_636
Total QA Ratings
21
QA Rating Outcome
Good
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The proposers have strong experience ion the space and have already been funded and built precursor projects. There is a detailed plan and I would expect the proposers to deliver on it.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_11
Total QA Ratings
27
QA Rating Outcome
Good
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Auditability

4.8 / 5
8 评论

Does the proposal provides sufficient information to assess and audit progress and completion?

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The number of mini proposals worked on and published, daily trading volume and daily active wallets, etc. can be audited easily. The road map is clearly stated as 9 months broken down into quarter months of practical schedules and the budget breakdown is comprehensible, all combined to make auditing effective.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_688
Total QA Ratings
16
QA Rating Outcome
Good
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Success is described, KPIs, milestones, action plans, roadmap are aligned, specific, measurable, publically auditable, and time fenced, therefore the information is sufficient to audit success and progress towards it.

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I see a clear description of the problem to be solved and they propose a clear and understandable solution for everyone, they have a web address for the project, although even with little information. The project is auditable, during the process and the result.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_743
Total QA Ratings
16
QA Rating Outcome
Good
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a detailed roadmap and a breakdown of a budget are provided, which presents an easy-to audit proposal for both the progress and the outcome.

Even though the outcome is "experiment" it is obvious that the team gave it a big-time thinking.

Rating given 5.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_54
Total QA Ratings
18
QA Rating Outcome
Good
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One of the milestones of the proposal is create a market for the mini-proposals. And that's like putting Clubber Lang (Mr. T in Rocky 2) as a supervisor: only really good guys will do well.

The market is a ruthless supervisor.

The metrics correspond to measures about facts anchored in the reality of the markets, the financing of projects and the development of projects in general. So, I think the metrics are in good shape.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_541
Total QA Ratings
16
QA Rating Outcome
Good
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The roadmap with milestones and a time horizon for achievement is clear and could be audited. KPIs are clear and measurables. A good definition of success both in the dedicated section as well as under the KPIs. There is a clear understandable description of the targeted problem as well as the solution. One suggestion is to involve more the community in open discussions in different stages to present your rationale/progress and get feedbacks and ideas. I believe there will be a lot of interest in it.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_636
Total QA Ratings
21
QA Rating Outcome
Good
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The proposers have provided sufficient information to audit the progress and success of the proposal. Not only will the roadmap provide checkpoints for the community to audit the proposal, but the key performance indicators will allow the community to audit the final product's success.

The proposers mentioned that, at the beginning, the auditing of the progress will be done manually using spreadsheets at a higher frequency, but they intend to automate the system as it develops. This transparency is important for the cardano community to be able to observe the progress of the experiment.

The proposers' statement regarding success perfectly sums up their end goal for the project: "At the completion of the experiment, members of the Catalyst ecosystem will have a clear understanding of what Return-on-Intent is, how to measure it, and how we can monitor and audit progress towards proposal objectives." They hope to not only develop the technology for catalyst, but they also will teach the community about this technology.

The proposal will also be adaptive; the final product's design will be the result of "the process of proposal design and specification, how the community manages success and failure scenarios, and market performance." The process of developing the ideas will dictate the final product.

My only critique of the proposal is under the "what success looks like" section. I understand the value of self-determined success for proposals, but I also think that it would be wise to have an external source vet the proposals for success. Perhaps having the community come together to determine a proposals' success after a given period of time would make sense. (score given: 5)

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_310
Total QA Ratings
21
QA Rating Outcome
Excellent
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A detailed plan has been provided upon which it should be easy to audit the progress. It would be nice to see a little more information on what would be considered a success. They have defined some key metrics, but not set goals on them. I think they should also add some sort of metric on the volatility and movement of project prices, and how this is related to project announcements. If prices don't move, then the token aren't particularly useful and indicators. Are prices moving before announcements (indicator of insider trading).

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_11
Total QA Ratings
27
QA Rating Outcome
Good
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Monthly Reports

Some preliminary planning/design work is being done with an initial preliminary-experiment being conducted with the Eastern Townhall core team. The project itself is dependent on other funded proposals progressing a little bit before we activitly start on project. See the proposal for more information.

Disbursed to Date
$26,625
Status
Still in progress
Completion Target
9/30/2022

The start of the project is dependent on other proposals progressing before we work on this proposal— dependent proposals are F7 DeFi+Catalyst 🔥 Retroactive Finance and F7: DAO Treasury Building Blocks. The latter is a fundamental building block for this work and until the larger team is working full-time a lot of our efforts will be prioritised towards that proposal.

Two of the team had personal matters that meant not as much preliminary background work was conducted this month as hoped. Our primary Product/UX designer contracted COVID so that has pushed out his work commitments by a couple of weeks. He will be starting full-time in June. However a small amount of preliminary design research is work proceeding with the Eastern Townhall core team.

Disbursed to Date
$26,625
Status
Still in progress
Completion Target
9/30/2022
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