[IMPACT] Please describe your proposed solution.
The dashboard will allow viewers to compare the performance of different impact projects and create a benchmark for impact. The objective is to develop the ability to compare impact projects based on the Global Impact Investing Network (GIIN) methodology. In the methodology, the measurement of impact requires three main elements: intentionality, additionality and impact measurement
Our objective is to be able to apply the framework to projects found in impact staking pools, such as those Mission-Driven Pools. In the preliminary phase proposed in this document, the objective is to create a PoC dashboard capable of displaying impact generated mission-driven staking pools.
From a dedicated web portal impact stakers will be able to track the social and environmental performance of their delegated stakes and identify the performance per amount staked on different SPOs focusing on creating an impact.
[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.
The SPO Impact dashboard will be visible to users who may be interested in delegating their stake to SPOs focusing on funding social and environmental projects. As such, the presence of the dashboard will help users identify the best projects, incentivize the creation of quality projects and provide tangible ways to measure their performance.
The proposal addresses the environmental element of the challenge focusing on the metrics:
- amount of awareness being produced
- number of people changing an environmentally damaging habit
as it will create a higher interest around impact SPOs while promoting those that produce a greater impact.
[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
The concept of impact may sound intangible to SPOs but by using the GIIN framework: the objective of the proposals addresses the initial need to define impact metrics that can be standardized for use by any SPO. Some categorization may be necessary as not all types of impacts can be compared (e.g. it is not meaningful to compare the CO2 equivalent emissions for projects of different types).
SPOs may perceive the Impact Dashboard as competition and therefore could be hesitant to adopt it: the objective is to be able to implicitly create a challenge for good. Moreover, with the gamification element, Impact SPOs may increase the number of users as well as their engagement.
[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.
The Impact Dashboard will require the following intermediary phases:
Research and engagement with SPOs - Phase 1
- Preliminary analysis to identify the minimal common denominators of impact for SPOs focussing on impact staking
- Discussion with different SPOs to identify reusable impact measures
- Research on the applicability of GIIN impact investing framework to impact SPOs and identification of metrics
- Definition of a strategy to engage impact stakers
Impact dashboard structuring - Phase 2
- Definition of impact measures, mapping of metrics adopted from GIIN to corresponding metrics developed for Cardano SPOs
- Definition of the requirements for the Impact Dashboard
Phase 1 and 2 delivery: 2 months from the funding day
Impact Dashboard deployment - Phase 3
- Develop a methodology to pull data from impact SPOs
- Develop a methodology to push impact project metrics to SPOs
- Deployment of the Impact Dashboard
- Impact Dashboard testing
Launch, monitor and lessons learned -Phase 4
- Impact Dashboard PoC launch
- Monitor outcomes for a duration of two months and identify lessons learned through a user survey
Phase 3 and 4 delivery: 3 months from the conclusion of phases 1 and 2
[FEASIBILITY] Please provide a detailed budget breakdown.
The Impact Dashboard will mainly require the involvement of the following profiles: a project manager/sustainability analyst(PM) and developer. The forecast rates are 65 USD/hour for the PM and 85 USD/hour for the developer.
The first two phases will be focused more significantly on the research on the applicability of GIIN framework and the identification of requirements for the PoC, with the main involvement of the Sustainability Analyst. The third phase, related to the deployment of the platform, will require a more significant engagement of the developer.
As such, the budget is split in accordance with the below:
1) Research and engagement with impact SPO: 3125 USD
PM: 35 hours*65 USD =2275 USD
Developer: 10 hours*85 USD = 850 USD
2) Impact Dashboard structuring: 2800 USD
PM: 30 hours*65 USD =1950 USD
Developer: 10 hours*85 USD = 850 USD
3) Impact Dashboard deployment: 5225
PM/SA: 15 hours*65 USD =975 USD
Developer: 50 hours*85 USD = 4250 USD
4) Launch, monitor and lesson learned: 1825 USD
PM: 15 hours*65 USD =975 USD
Developer: 10 hours*85 USD = 850 USD
Total: 3125+2800+5225+1825= 12975
The amount of hours requested over the total time period of 5 months is limited and compatible with the other 2 proposals submitted within the Catalyst by the ImpactScope team.
[FEASIBILITY] Please provide details of the people who will work on the project.
The team is composed of the following persons that have been collaborating for more than a year in ImpactScope; as such the team is already up to speed on general project execution.
Project Designer, Michele Soavi: 14 years of international experience at the intersection between finance, requirements analysis, Blockchain and sustainability
- ·Requirement analysis for technological implementations with a specialization in Blockchain and Smart Contracts
- Financial analysis and strategy arising from a solid Big4 background based on financial and operational audit
- ·Sustainability reporting to account for social and environmental elements
- ·MBA in Sustainable Business, PhD candidate researching on automation of Smart Contracts
Sustainability Metrics Lead, Mehul Derodra: 15 years of experience with an extensive background in traditional investing and FinTech.
- Alumni in Sustainable Finance from CISL.
- Combines his education and experience to explore how sustainability, impact investing and blockchain can be combined.
- Leveraging extensive experience in equity derivatives sales and trading at leading investment banks, a strong quantitative background and a passion for technology.
Developer, Bencze Levente: Passionate about building DLT apps that help make the world a better place. Always learning.
- Smart contracts: Plutus, Solidity
- Backend: Node.JS, Laravel, Python, GO
- Frontend: CSS3, HTML5, React.js, Angular.js
- DataBase: SQL, MongoDB
Project Auditor, Sean Murphy: 15+ years in emerging technology and impact investment management. Former LP in East Africa’s first seed stage tech investment fund.
4+ years at the intersection of carbon finance and blockchain.
[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.
The proposal objective for this funding round is to create a PoC that can be subsequently scaled up in future Catalyst rounds.
Given the values of Cardano, we hope that the project will represent the start of a long-term collaboration with the community.
[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?
The objective is to create a document/deliverable for each of the 4 proposed steps in accordance with the following:
- Phase one would deliver a freely available method to derive concrete impact measures adapted for SPOs in Cardano
- A requirement analysis of the Impact Dashboard
- A PoC testing the feasibility of the general proposal
- A report on the PoC both from a technical and user-engagement perspective based on two months of Impact Dashboard availability within specific SPOs
The metrics we will focus on concern both the method and the Impact Dashboard developed.
Regarding the method, the metrics will concern the ability to give measures and standards that cover at least 50% of all existing SPOs, divided between SPOs with a social and an environmental objective (e.g. success if the method is applicable to 7 out of 12 social SPOs’ existing and 11 out the 15 focusing on environmental SPOs).
Regarding the Impact Dashboard, the metrics will be to test whether people would really check the dashboard. As such, the objective is to verify whether at least 20% of impact stakers using a specific SPO included in the PoC, are checking their impact data.
[AUDITABILITY] What does success for this project look like?
The hope for the project is around two main objectives:
Promoting the use of impact-driven SPOs as the Impact Dashboard implies a gamification element that could be leveraged to increase the usage of impact-driven SPOs. We hope that users enjoy such an element and get a boost of positive feelings leading to an increased engagement in Cardano
Promoting the development of SPOs that provide a greater impact-driven ROI and that ultimately, over the long term, the amount contributed to impact projects will increase in the Cardano community and impact-driven SPOs will become more mainstream
[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.
It is an entirely new project
Sustainable Development Goals (SDG) Rating
The project focuses on the following SDGs:
- #8 decent work and economic growth
- #12 responsible consumption and production