Fund1 Challenge

Fund1 Purpose and Participation Guidelines

Welcome Fund1 participants!

For Cardano to continue its evolution as a dynamic, decentralized network, we'll need to come together as a community.

Project Catalyst aims to provide the community with the tools and capability to help drive this, with an opportunity to deploy applications and conduct business securely and efficiently. We want to create the conditions that will allow hundreds of applications to thrive by providing a platform for innovation, collaborative participation and encouraging solutions from a wide range of perspectives.

Collaboration lies at the heart of our vision to drive the growth and sustainability of the Cardano ecosystem.

To increase the awareness of prioritized goals and understand major development milestones, we encourage you to share your ideas, propose possible improvements, participate in the proposal implementation process and provide us with your valuable feedback.

We encourage you to participate in this process through your involvement in development or improvement proposals that could impact the ecosystem sustainability.

How to Participate

To fund and support Cardano's ongoing development and evolution, we have created the cFund and treasury, holding approximately 80M$ worth of ada to be drawn down over time. By submitting proposals, we will be able to evaluate prioritized ideas to fund and execute them. We hope you will participate to:

Propose new ideas

Suggest feedback on other ideas

Help refine the idea into a proposal (fill out a structured questionnaire to help improve proposals)

Offer help in implementing proposals through a professional service

Help in problem definition, evaluation or breakdown

Share insights about competitive analysis of other blockchain solutions

Share relevant knowledge in regards to problem-solving

Review finalized proposals to help ada holders make the best decision

Provide us feedback on how to improve the process facilitating its efficiency

To influence the most competent solutions meeting the needs and requirements of the community, you can also consider the following questions when formulating your potential questions:

General

What are the main blockers for entrepreneurs and developers to build applications on the Cardano blockchain?

What are the short-term priorities that can be achieved first to improve the ecosystem?

Attracting Developers

What is the best strategy to attract developers to the Cardano community?

What kind of Dapps can be developed in the next six months?

Attracting Entrepreneurs

What existing solutions attract developers and business to deploy Dapps on Cardano?

What solutions are currently missing and should be provided for these reasons?

Competitive Analysis

What differentiates the Cardano ecosystem from competitors?

What attracts businesses and enterprises to learn more about Cardano?

Stakepools

What is the role of stake pools in Cardano ecosystem creation?

We are open to any form of proposals. Your proposal may represent a significant enhancement or a minor improvement. Its objective might be a short-term fix or a longer-term goal, that could affect a small number of stakeholders or everyone in the community equally. You are also welcome to visit the Fund 1 FAQ to learn about the focus group challenge and find out more details about the Voting App.

Timelines

Fund1 comprises two main phases: the Innovation phase launching on August 12,2020, and the

Governance phase following up in September, 2020.

The innovation phase includes the following timelines:

Starts

Ends

Proposal Submission

12/08/2020

28/08/2020

Proposal Refining (providing feedback on the idea improvement)

18/08/2020

25/08/2020

Proposal Finalization

28/08/2020

Proposal Assessment (ranking based on assessment criteria)

28/08/2020

06/09/2020

Evaluation and Decision Making

After all the proposals are submitted, advisors and experts will review them taking into account the following assessment criteria:

Impact (50%): How effectively does the proposal address the challenge statement?

Auditability(25%): How detailed is the proposal statement explanation, and how accurate is the budget plan for its implementation?

Feasibility (25%) - Considering the proposer's experience and budget plan, how likely is the proposal to be executed successfully?

Each criterion will be scored from 1 to 5 points with the total score calculated and provided along with proposals in the Voting App. The results will be shared during the subsequent Fund2 round.