Chadscore: Degen metrics on Cardano

[GENERAL] Name and surname of main applicant

Gabriel Axel Montes, PhD

[GENERAL] Email address of main applicant

cardano@gabrielaxel.com

Additional applicants

N/A

[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.

No

[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

Data tools

[IMPACT] Please describe your proposed solution.

Cardano stands to gain considerably from formalising degen culture. The proposed project takes advantage of the playful aping culture of crypto to Cardano's benefit. The project will be capable of engaging Cardano ADA holders at large, and ultimately serve its most enthusiastic users and also motivated projects.

The ChadScore Torch will be a Cardano token connected to a Cardano user that is meant to showcase a user's engagement in the Cardano ecosystem. It can be used both on and off-chain and can be minted by any Cardano user who has a ChadScore of a TBD baseline amount. Once the Torch is minted, anyone can use it to gain insight into the user's on-chain reputation. The holders of the Torch form a community of crypto users who want to be recognized and rewarded for their on-chain skills and contributions. The goal of ChadScore is to create products and experiences based on the Torch, but anyone can use it as an API. The reason for building the Torch is to allow crypto users to showcase and benefit from their on-chain skills and reputation. It also allows crypto projects to identify and distinguish high-value users.

The ChadScore Torch uses "Flexes" ('traits') to condense a user's on-chain skill and reputation into bits of data. The ChadScore team plans to design the parameters of these Flexes to make them easy to understand and practical for both on-chain and off-chain use. The Torch stores selected Flexes on-chain, which are called primary Flexes and are directly consumable by third-party contracts. Currently, the only primary Flex is the ChadScore itself. In addition to the primary Flexes, the Torch stores a reference to an off-chain resource that returns metadata about a user's Torch, including further Flexes called secondary Flexes. The main difference between primary and secondary Flexes is that primary Flexes are only updated when the user decides to submit an update, while secondary Flexes are updated approximately once per day since they are stored off-chain. To prevent presenting outdated Flexes, a timestamp is saved on-chain alongside the primary Flexes every time the user updates them. Torch integrators should consider the recency of the primary Flexes and only accept Torches that are within their maximum age.

GigaChads

Risk mitigation:

• Risk (1): Immediate hiring need. Our team is actively searching for a machine learning now. Due to global demand for AI talent and in order to attract suitable talent in a timely manner, we are offering (in the budget) an above-average salary. This will also help to increase the chances of keeping a strong engineer beyond the scope of this proposal.

• Risk (2): Challenges in appropriate marketing reach.

• We have budgeted for a social media in this proposal in order to begin building toward this goal from the beginning.
• The proposer is a veteran member of and leader in the SingularityNET ecosystem, which has multiple projects with existing and expanding user bases that could be marketed to and leveraged.

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

The project is anticipated to strengthen the Cardano ecosystem, particularly morale and enthusiasm for ADA transactions, by socially rewarding participation in Cardano on-chain projects and events.

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

The project's success will ultimately be measured by the community's own use of the product, especially if other Cardano projects utilize Chadscore metrics.

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

The project will be shared with key Cardano communities, inviting their leaders and members to learn about Chadscore and utilize it.

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

This project comes on the heels of 4 previous Catalyst proposals that have all be successfully completed and closed-out by the proposer.

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

High-level feasibility has been confirmed. The objective is to have a way to measure Cardano wallet/user riskiness. There are various ways to potentially measure this, from on-chain data to collaborations with other projects. The project should be measured according to its ability to at least offer a prototype of this capability.

[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.

Month 1:

Determining approach and specifics

Approaching potential optional partners

Month 2:

Building on-chain data analytics capacity

Month 3:

Building on-chain data analytics capacity (with initial resutls)

Month 4:

Ranking capacity developed

Month 5:

Public dashboard developed

Month 6:

Whitelist capacity developed

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

(To be further fleshed out)

Month 1:

Determining approach and specifics

Approaching potential optional partners

Month 2:

Building on-chain data analytics capacity

Month 3:

Building on-chain data analytics capacity (with initial resutls)

Month 4:

Ranking capacity developed

Month 5:

Public dashboard developed

Month 6:

Whitelist capacity developed

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

R&D and Project Management: $40,200 ($6,700 x 6 months)

Engineering: $22,200 ($3,700 x 6 months)

Social media: $10,800 ($1,800 x 6 months)

Product Design & Development: $28,800

Data analysis (cloud time and algorithm use): $18,000

Total: $120,000

An exchange rate of $0.28/ADA (reflecting the rate at the time of this writing) is used for budget calculation. The proposer assumes market risk.

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

All costs will be commensurate to majority of wages and capital required to execute. Due to the high value-add and engineering work required of the proposal, costs are above average in order to rapidly secure the human resource talent and equipment needed to conduct the work.

[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