Easy onboarding of ADA holders to SPOs

[GENERAL] Name and surname of main applicant

Roberto Mayen-Hess

[GENERAL] Email address of main applicant

robertomh@gimbalabs.io

Additional applicants

Benjamin Ben Zvi

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

4

[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

SPOs

[IMPACT] Please describe your proposed solution.

Perceived problem: 

Many new and existing ADA holders need to fully understand how staking pools work and how to make the best decision about where to stake their ADA. From our experience onboarding Plutus developers through the Plutus PBL, recurring questions from Ada holders are:

• What staking scenarios yield the best returns? 
• Can we easily un-stake the ADA?
• What is an Initial Stake Pool Offering (ISPO)? How can I participate?
• I see many impact-driven SPOs – what does it mean?
• Should I choose a small SPO or a large one?

Piecing together the information required to answer these questions from available resources is time-consuming and confusing, so ADA holders refrain from staking their ADA.

With the staking mechanism of Cardano, there is no reason not to stake your ADA, so the % of staking should be over 90% (currently, only 66.56% of ADA is staked according to https://pooltool.io/). We need to help the ADA holders maximize their choice of an SPO and support efficient network decentralization. 

Proposed solution: 

We propose creating a Project-based learning (PBL) program to educate ADA holders and facilitate their engagement with SPOs.

The proposal will support the development of an interactive education program for new and existing members that will cover the fundamentals of blockchain technology, Cardano and its staking protocol, the staking process, Stake Pool Operators (SPOs), and choosing the best SPO fit. Our goal is to facilitate ADA holders' engagement with SPOs. We will develop this PBL program on the Andamio LMS built on Cardano.

Our solution's focus on a Project-based learning approach sets our solution apart, providing participants with practical insights and hands-on experiences. This unique approach ensures active engagement, promoting a deeper understanding of staking and fostering stronger connections within the Cardano community. The Andamio platform is an LMS built on Cardano with skill and contribution tracking, treasury management, and smart contract capabilities that will provide program participants with a record of proof of skill and knowledge acquisition. It allows the possibility of further engagement with SPOs.

The beneficiaries of our solution are ADA holders seeking knowledge and support to navigate the staking landscape effectively.

To ensure the project's sustainability, we will explore multiple revenue opportunities. These include a small fee for course participants, sponsorship from SPOs, or a modest fee for ADA staked by participants. 

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

The challenge asks: How can we support effective and impactful projects and initiatives to build and support the SPO Ecosystem and Community?

Our proposal addresses the lack of knowledge and confidence regarding staking among ADA holders. By providing a comprehensive education program, we will empower ADA holders to make informed decisions regarding SPO selection and maximizing staking returns. By engaging ADA holders with SPOs, we will foster a stronger and more decentralized Cardano network.

The project will cover the following potential directions mentioned in the challenge:

• Organizing Community Events with a focus on SPO.
• Providing services that help increase the Communication, Coordination, and Collaboration between SPO projects and initiatives.
• Academic research and analytics on topics related to SPOs or SPO tooling.

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

We will conduct pre and post-program assessments to evaluate participants’ knowledge gain and their staking decision.

Demonstrate impact

• No. of program participants.
• Completion rate.
• Participant feedback on effectiveness and relevance of the program.
• Proof of skill/knowledge acquired by ADA holders about SPOs through the use of the Andamio LMS platform.
• No. of course participants that staked after completing the course.
• Amount of ADA staked by program participants.

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

We will share the information on the following resources: 

• Andamio website, Gimbalabs website
• Gimbalabs sessions and recordings on YouTube
• Progress reports

*Andamio was created out of gimbalabs.com and therefore there is a strong alignment between the two to coordinate sessions and share the information with the community as done by Gimbalabs for over 2 years now.

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

Gimbalabs, a successful proposal of Fund 1 of Project Catalyst, has made significant contributions to the Cardano community through its Plutus PBL program. With a proven track record of delivering value beyond the funding received, Gimbalabs has actively engaged and fostered the creation and growth of the Cardano community while fulfilling its commitments.

As experienced educators, we have successfully onboarded developers to Cardano through the Plutus PBL program. Currently in its fourth iteration, the Plutus PBL course continues to welcome new developers into the Cardano ecosystem. For more detailed information about the program, please visit https://plutuspbl.io/.

Moreover, our extensive experience and close relationships with Stake Pool Operators (SPOs), including [SAMON] Salmon Pool, [GMBL] GimbalPool, and others, have given us valuable insights into the pain points and challenges faced by SPOs. This deep understanding allows us to address their specific needs effectively and propose tailored solutions.

By leveraging our expertise in education, community engagement, and understanding of SPOs' pain points, we are well-positioned to develop a comprehensive program that educates ADA holders and facilitates their engagement with SPOs. This program aims to bridge knowledge gaps, empower ADA holders to make informed decisions and contribute to the decentralization and growth of the Cardano ecosystem.

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

The main goals of this project are:

1. Research and document SPO best practices and current challenges. 
2. Elaborate a PBL program to educate ADA holders on the role of stake pools, how to choose the SPO that best fits their interests, and maximize their returns (e.g., staking rewards, IPSOs, Impact driven SPOs, etc.).
3. Promote SPO segments to make the network more secure, decentralized, and collaborative.
4. Incentivize staking by ADA holders to maximize the benefits from and support of the network.

[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 - Research (from week 0 until week 4)

• Interview 10 SPOs with different characteristics to learn about best practices and challenges, for example:
• The amount staked: the relationship between saturation and ROS (Return Over Stake). 
• Experience in the network: recent vs. past years.
• SPO collaborations, i.e., Climate Neutral Cardano Group (CNC).
• Initial Stake Pool Offering (ISPO).
• Impact-driven SPOs.
• Location of SPOs.
• Energy use.
• Overall contribution to Cardano.
• Carry out research, collect data, and document insights.
• Carry out market research to explore potential revenue streams.

Milestone 2 – Curriculum development (from week 5 until week 8)

• Course content creation.
• Upload content to the LMS platform. 
• Front-end development of SPO PBL program.
• Smart contract development to track and record participants’ skills and knowledge acquisition.

Milestone 3 – Program launch (from week 9 until week 16)

• Promotion to ADA holders
• Social channels
• Media channels
• Through collaboration with wallets
• Q & A sessions with SPOs
• Test the SPO PBL program with ten users. 
• Collect feedback and implement necessary fixes and adjustments.
• Define, discuss, and implement a revenue model.  

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

Milestone 1 – Research

Deliverables  

• SPO interview summary report.
• SPO research summary report.
• Market research and analysis report.

Milestone 2 – Curriculum development

Deliverables 

• Detailed curriculum and learning materials
• Written guides
• Video tutorials
• Interactive exercises
• SPO PBL program front end development.
• Smart contracts for student skill and knowledge acquisition tracking and recording. 

Milestone 3 – Program launch

Deliverables

• Marketing and promotion report.
• SPO PBL pilot report.  
• Defined revenue model.

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

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

With less than 3% of the challenge’s budget, this proposal will provide:

Value for ADA holders

ADA holders will acquire skills and knowledge necessary to more efficiently and effectively engage with SPOs and get a maximum return for their staked ADA (return includes ROS, supporting decentralization or different causes, etc.). 

Value for SPOs

By educating Cardano community members about the role and importance of SPOs they will benefit from increased awareness as well as delegation from ADA holders.   

Value for the network

A greater number of Cardano community members actively informed and engaged in ADA delegation supports the goals of the network as well as the SPOs.

[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