The Process of Checking The Development of The Proposal After Receiving The Money - The Cardano community needs to know if the funds sent to the projects help develop the Cardano ecosystem

[GENERAL] Name and surname of main applicant

Quang Daniel

[GENERAL] Email address of main applicant

mrquangdaniel@gmail.com

Additional applicants

No

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

Yes

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

Project will be fully open source

[METADATA] Category of proposal

Other

[IMPACT] Please describe your proposed solution.

Problem

Catalyst has funded 1155 proposals from fund 1 to fund 9. According to Catalyst's report on the number of completed proposals, only 567 proposals have been completed (only about 50% of the proposals have been completed). This is a big problem with the Cardano ecosystem. Because it shows that the effect of funding on the Cardano ecosystem is not commensurate with the amount of money that Catalyst has distributed.

Besides, there are many projects that just try to submit proposals and get Catalyst money (these proposals have been completed and fully received money from Catalyst) but then do not continue to develop the project. This also makes the development of projects on Cardano disproportionate to the amount of money that Catalyst has allocated to the projects.

Catalyst only has a process of checking project progress through Monthly Report. Catalyst does not have any process in place to track the development of projects after receiving funds from Catalyst (completed proposals).

Solution

We will work on creating a process to check the development of projects after receiving funds from Catalyst.

This process will include updating Catalyst's Monthly Report so that we can more closely check the proposal's team's progress. We will also create a process to track the development of projects after the proposal is completed. The results of these processes can be built to bring complete information about the funded project to the Cardano community.

This process will help assess and measure the effectiveness of funding in Catalyst.

All the results of this proposal will be published on our Gitbook so that the community can discuss and contribute ideas.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Our project will answer the question "What research is required to advance the state of the art of Catalyst and allow Catalyst to serve the community's needs better?" of this category.

The Monthly Report check process is very important for the distribution of funds. Projects will only receive money when they complete the Monthly Report. We're improving Catalyst's Monthly reporting process to more closely check the results of projects at each milestone. This will help limit projects that are just trying to get money from Catalyst without really having a positive impact on the Cardano ecosystem.

In addition, we will research and innovate a process to check the development and benefits of projects for the Cardano ecosystem. This process will help the Cardano community see the impact Catalyst brings to the Cardano ecosystem. Catalyst can build trust in the Cardano community

[IMPACT] How do you intend to measure the success of your project?

We will be publishing all our work on gitbook. So everyone can track our work. Then we collect feedback from the community and continue to improve the process

The biggest success of this project is that Catalyst can apply this process to check the development of funded projects in Catalyst. It will help Catalyst funds be allocated more efficiently. This can help the Cardano ecosystem to have many good projects.

After applying this process to Catalyst,

The results of Catalyst will be transparent to community.

[IMPACT] Please describe your plans to share the outputs and results of your project?

We are administrators of:

• A Facebook group with 5,700 members: https://www.facebook.com/groups/ada.holder
• A Facebook group with 46,500 members: https://www.facebook.com/groups/cardanoviet
• And a Telegram group with more than 500 members: https://t.me/ADA_VIET

We will share Catalyst Monthly Fund's Gitbook to our communities and other Cardano communities.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

We are members of the Vcoincheck team that have 6 funded proposals in funds 7, 8, and 9, and all these proposals have been successfully completed.

Vcoincheck Annual report 2023

https://www.lidonation.com/en/catalyst-explorer/proposals?l=24&s=vcoincheck&t=p

https://www.essentialcardano.io/glossary?sort=alphabetical

We have a lot of products related to blockchain knowledge and Cardano:

• Vcoincheck crypto project evaluation: Classifies projects by answering questions.
• Vcoincheck library: Library to share basic knowledge about Cardano, blockchain (vcoincheck.io)
• Vcoincheck training course: Knowledge training course or how to evaluate crypto projects.
• Vcoincheck quiz: An extension of the knowledge library to serve readers with little time to spend on blockchain (vcoincheck.io)

We also have professors about Finance and Economics field. They have a lot of Experiences in Venture Capitals and Funds

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

We will be publishing all our work on gitbook. So everyone can track our work. Then we collect feedback from the community and continue to improve the process

The biggest success of this project is that Catalyst can apply this process to check the development of funded projects in Catalyst. It will help Catalyst funds be allocated more efficiently. This can help the Cardano ecosystem to have many good projects.

After applying this process to Catalyst,

The results of Catalyst will be transparent to community.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1 (2 months): Research proposals from fund 1 to fund 9 of Catalyst

• Aggregate proposals that haven't completed
• Aggregate information about completed proposals
• Analysis of projects that have been successful and have a great impact on the Cardano ecosystem after receiving Catalyst funds
• Researching the criteria shows that the project has a positive impact on the Cardano ecosystem. Are those impacts worth the money they get?

Milestone 2 (2 months): Complete the Monthly Report improvement

• Monthly Report new form
• Guidance for Challenge Team check the proposals
• Public the Report to community every month process
• Warning for proposals that do not implement the project as planned
• Put projects that don't perform as planned to blacklist to notify the community

Milestone 3 (2 months): Complete the checking completed proposals process. We think Catalyst need to keep the last batch (final payment when the project is completed) until they can prove that their project will develop Cardano Ecosystem.

• What are the requirements and processes for the project to receive the final payment
• Form for completed proposals to keep track
• The roles can check proposals after completed
• Guidance to check completed proposals
• Public the information about the development of the projects after receiving fund from Catalyst

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1 (2 months): Research proposals from fund 1 to fund 9 of Catalyst

• Aggregate proposals that haven't completed
• Aggregate information about completed proposals
• Analysis of projects that have been successful and have a great impact on the Cardano ecosystem after receiving Catalyst funds
• Researching the criteria shows that the project has a positive impact on the Cardano ecosystem. Are those impacts worth the money they get?

=> Deliverables:

• 1 sheet Aggregate proposals that haven't completed
• 1 sheet Aggregate information about completed proposals
• Our research and analysis will be published on gitbook

Milestone 2 (2 months): Complete the Monthly Report improvement

• Monthly Report new form
• Guidance for Challenge Team check the proposals
• Public the Report to community every month process
• Warning for proposals that do not implement the project as planned process
• Put projects that don't perform as planned to blacklist to notify the community

=> Deliverables:

• Monthly Report new form (gitbook)
• Guidance for Challenge Team check the proposals (gitbook)
• Public the Report to community every month process (gitbook)
• Warning for proposals that do not implement the project as planned process (gitbook)
• Blacklist format + guide (gitbook)

Milestone 3 (2 months): Complete the checking completed proposals process. We think Catalyst need to keep the last batch (final payment when the project is completed) until they can prove that their project will develop Cardano Ecosystem.

• What are the requirements and processes for the project to receive the final payment
• Form for completed proposals to keep track
• The roles can check proposals after completed
• Guidance to check completed proposals
• Public the information about the development of the projects after receiving fund from Catalyst

=> Deliverables:

• What are the requirements and processes for the project to receive the final payment (gitbook)
• Form for completed proposals to keep track (gitbook)
• The roles can check proposals after completed (gitbook)
• Guidance to check completed proposals (gitbook)
• Public the information about the development of the projects after receiving fund from Catalyst (gitbook)

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Our team has 5 experts who will research and discuss to provide specific guidelines in each phase and roles of Catalyst Monthly Fund. Therefore, the working time will be the total working time of all 5 people. For example 5 experts discuss and do the work for 5 hours, the total working time will be 5 x 5 = 25 hours

Milestone 1 (2 months): Research proposals from fund 1 to fund 9 of Catalyst

• Aggregate proposals that haven't completed (working time: 5x10 = 50 hours)
• Aggregate information about completed proposals (working time: 5x10 = 50 hours)
• Analysis of projects that have been successful and have a great impact on the Cardano ecosystem after receiving Catalyst funds (working time: 5x20 = 100 hours)
• Researching the criteria shows that the project has a positive impact on the Cardano ecosystem. Are those impacts worth the money they get? (working time: 5x20 = 100 hours)

Working time for this Milestone: 300 hours

Cost/hour: 120 ADA/hour (~30$/hour)

Total cost for this Milestone: 36,000 ADA

Milestone 2 (2 months): Complete the Monthly Report improvement

• Monthly Report new form (working time: 5x10 = 50 hours)
• Guidance for Challenge Team check the proposals (working time: 5x10 = 50 hours)
• Public the Report to community every month process (working time: 5x5 = 25 hours)
• Warning for proposals that do not implement the project as planned (working time: 5x10 = 50 hours)
• Put projects that don't perform as planned to blacklist to notify the community

Working time for this Milestone: 200 hours

Cost/hour: 120 ADA/hour (~30$/hour)

Total cost for this Milestone: 24,000 ADA

Milestone 3 (2 months): Complete the checking completed proposals process. We think Catalyst need to keep the last batch (final payment when the project is completed) until they can prove that their project will develop Cardano Ecosystem.

• What are the requirements and processes for the project to receive the final payment (working time: 5x25 = 75 hours)
• Form for completed proposals to keep track (working time: 5x10 = 50 hours)
• The roles can check proposals after completed (working time: 5x10 = 50 hours)
• Guidance to check completed proposals (working time: 5x25 = 75 hours)
• Public the information about the development of the projects after receiving fund from Catalyst (working time: 5x10 = 50 hours)

Working time for this Milestone: 300 hours

Cost/hour: 120 ADA/hour (~30$/hour)

Total cost for this Milestone: 36,000 ADA

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

With more than 800 hours of work and costs only about $30/hour. The Process of Checking The Development of The Proposal After Receiving The Money will bring many improvements to Catalyst such as:

• Catalyst's Monthly Report has been improved to be able to check proposals more carefully
• Analyze and evaluate Catalyst projects from fund 1 to fund 9 to take a closer look at the effectiveness of funding
• Increased efficiency of funding in Catalyst for the Cardano ecosystem
• Transparency of all information and project implementation results of funding proposals in Catalyst to the community
• Minimizing the number of projects with no benefit to the Cardano ecosystem
• Avoid wasting money on inefficient projects
• Improved Proposal Management Processes in Catalyst

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept