Latin America Student Onboarding

[GENERAL] Name and Surname of Main Applicant

Isa Franco

[GENERAL] Email address of Main Applicant

CardisaLatina@hotmail.com

Additional Applicants

Nicole Franco

Maria

[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 outputs 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

Education

[IMPACT] Please describe your proposed solution.

Cardano has historically had its focus on Africa. We have seen this from IOHK's big push to implement its DID's in Ethiopia, the specific Catalyst challenges related to Africa, the large number of organizations and projects based in or geared towards Africa, and the large amount of time that Charles or other ecosystem leaders have dedicated towards talking about it. There is nothing wrong with any of this. Africa is a large and diverse continent and its good that Cardano has been focusing on this area. But we feel that this has come at the cost of other key regions in the world, specifically southeast asia and Latin America.

The Latin American Market is home to 650 Million people who are smart, talented, and becoming more and more interested in crypto. All of the problems and issues that we are aiming to solve in Africa with cryptocurrency apply to Latin America and if we do not focus on this region then the competition certainly will. According to uniRank, in 2023 there are 1,869 officially recognized higher education institutions in Latin America. UniRank says there are 13,837 officially recognized universities worldwide, meaning that latin America represents 13.5% of the total universities in the world. This is millions of bright young students who could be building products for Cardano, utilizing DIDs, participating in DeFi, or having fun with our NFT communities.

We must have sufficient Spanish language content aimed at this demographic if Cardano is going to be competitive and continue gaining market share. Not focusing on this region would be a grave mistake. We have noticed some great groups dedicated to Cardano in Latin America such as LATAM Cardano Community or CardanoFem and this is in no way to marginalize what they have contributed so far. But for a region this size we need to continue increasing our focus here and provide enough resources and attention to really make an impact. We just want to do our part to help Cardano grow in Latin America as much as possible.

Main Deliverables:

We will be creating content in the Spanish language which is not completely unique and there are others doing some really cool things in Spanish in our community. But part of our plan is a unique concept where are videos and articles are educational and informative, but also able to be consumed in just a minute or two. We call them Cortos. We have observed that the younger generation which we are targeting is more interested in shorter content. We see this with IG stories, Tiktok, and snapchat which the younger generation uses much more frequently than more traditional media like television or radio. Many of the people in this generation are not interested in watching a 10 minute video or even a 5 minute video. Making content long results in these younger people simply not watching. By making our videos and articles short but informative and entertaining, and advertising it as so, we think it will lead it increased views and engagement which means more young people learning about Cardano.

Instagram Content: The majority of crypto information and discussion is currently occurring on Twitter and Reddit without a lot of focus on Instagram. So creating a Twitter to reach people interested in crypto makes sense. However, this approach is flawed since the majority of people not currently interested in crypto spend their time on other social media such as Instagram. If we want to attract new people into the ecosystem, we need to go the the places where they are and not expect them to come to us. So for this reason, I will branch out into the other social medias and create posts, stories, and reels about Cardano, Project Catalyst, and blockchain technology with the goal of increasing peoples awareness and increasing interest and participation in Cardano. Content will be both in English and in Spanish to maximize its usefulness and also specifically target the Latam community which has not had a large focus until now. 

YouTube Content: YouTube is a very popular resource for people interested in crypto. And while we currently have several great options for content in English, there are not a sufficient number of options for people who speak Spanish. Therefore, there will also be a dedicated YouTube channel for creating content in Spanish.

Podcasts: There are currently not a lot of good Spanish language crypto podcasts available, but there are millions of people who utilize podcasts each day. By creating content in Spanish for this medium, it would create a large new audience. 

Medium Articles: Medium is very popular for publishing articles. We plan to write articles aimed at high school or college aged Latinos in Spanish. Our concept of Corto applies here as well. The articles will be short and utilizes images or infographics to make them readable and understandable in just a minute or two while still teaching important concepts or sharing important information.

Campus Event: Since this challenge is specifically made to attract students into Cardano and Catalyst, we will be holding an in person event at our local University here in Colombia, University Del Valle (https://www.univalle.edu.co/). It is one of the top Universities here in Colombia. We will set up a booth and hand out pamphlets and information about Cardano, Project Catalyst, and how to get more involved in both. We will also be recording video and creating content from the event so that Spanish speaking students from all over the world can view what we are doing and benefit from the information.

Instagram, YouTube, Medium and Podcast Content will focus on these main areas:

Project Catalyst

a. Posts, stories, and reels that teach and explain what project Catalyst is. 

b. Examples and breakdowns of proposals that have won in the past so that people can see the types of things that get funded. 

c. Announcements of upcoming Project Catalyst rounds to keep people informed of when they can participate, vote, submit, etc.

d. Information on getting more involved with Catalyst, from joining the town halls to participating as a Community Assessor.

Cardano

a. What is Cardano? What are its strengths and what sets it apart from other blockchain technology.

b. News and development updates. Create posts and content discussing recent developments in the ecosystem.

c. Project discussions. Highlighting different projects in the ecosystem to give people a better idea of who is building on Cardano and what different products are available or soon to be released. 

Blockchain/Crypto

a. What is blockchain and cryptocurrency? This portion will be focused on a total beginner. Explaining basic concepts so people can become more familiar and interested in the industry as a whole.

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

Here is the information the challenge provided for what proposals are suitable:

"Proposals required by this challenge category"

① Student entrepreneur startup

→ Student entrepreneurs who already have a business idea to leverage blockchain and are looking for funding chance for their startup are encouraged to propose in this category. We accept any development ideas as long as utilize blockchain. However, if you suggest using the resources provided by Cardano, it will be easy to get support from the community.

② Activities to foster student Catalyst proposers and blockchain engineers

→ Increasing the number of student Catalyst proposers and blockchain engineers will lead to the development of the Cardano ecosystem in the future. Specific examples for educating them include holding seminars, creating and translating content, forming a community hub, and so on. Let's make use of your experience and position to promote student onboarding.

Our teams proposal would be applicable to #2. The materials and content we are creating through this proposal are directly aimed at potential student catalyst proposers and blockchain engineers. We are creating content to bring the next generation of Spanish speakers into Cardano and into Project Catalyst. And many of these people will likely be interested in not only using Cardano dapps and products but also in participating in Catalyst as proposers, assessors, and voters. Our team has designed this proposal specifically to address this challenge.

Also, our team has clearly met the "Participation conditions" for this challenge which state:

・The proposer or one or more of the team members must be students (even high school and graduate students).

・In order to prove the identity of the student, write the name of the school to which you belong and the email address for the school in the fields for the related experience or team introduction.

・Set the budget for one proposal to 39,480 ada or less.

2/3 of our team are current students with one in high school and one in university. The other is just graduating this July. The student email address has been included in the team section to evidence that we have a student on our team. Our budget has also been set to less than the maximum requested amount.

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

We have created the following KPIs to measure and track the success of our project. They have been tailored specifically to what we are doing for this project and should be strong indicators of our success or failure. We have also included descriptions for each of our KPIs

 

Youtube Videos Created

We will be putting our weekly YouTube videos that summarize what has happened during the last week in the Cardano ecosystem. This can be information on recent developments for Cardano projects, Updates for Cardano itself, Updates and information on Catalyst. Information about Catalyst deadlines, how to apply, how to be a CA, to encourage students to submit projects and build on Cardano. It can also be taking other popular content creators content (with their permission) and translating it into Spanish to reach a wider audience and benefit people who only speak Spanish so will not be able to engage with English content  

Goal is 1 per week. 4 per month, 24 total for the proposal.

Budget: Each video takes about 10 hours to write the material, shoot the video, edit it, post it, and field and comments or questions that arise after it is posted. 40 hours per month.

 

Youtube Video views

Views are an important metric because if the videos are not having people watch them then they are not really serving any purpose. This metric can be difficult though because it will be a brand new channel and the growth is not usually linear for a new channel. It will likely start slower and then build over time. We believe 10 to 20 views is probably reasonable to start and building towards 100 to 200 + views per video in month 6. Note we plan to continue and build it to much higher views. But we would also like to be realistic when setting these initial KPIs.

 

Twitter Followers

Twitter is a strong medium for sharing crypto information and updates. We plan to share the content we create on Instagram, YouTube, and Podcasts through Twitter to increase its exposure and allow the maximum number of people to benefit from them. Our goal for the first 6 months will be to get 1000 Twitter followers. 

 

Twitter Posts

Goal is 1 per day, 7 per week, 30 per month, 180 total for the proposal.

 

Instagram Posts

Making regular Instagram posts is crucial as this type of social media is consumed by younger people in shorter intervals and more frequently than other media such as television that is used to 1 episode a week. In order to stay relevant and draw new people in, it is important to have daily posts. Therefore the goal will be to have daily Posts on IG.

Goal is 1 per day, 7 per week, 30 per month, 180 total for the proposal.

Some posts are more creative or involved than others. Some may only take a few minutes to think of and post while others could take an hour or two of research and thought to draft and post.

Budget: 30 minutes per day spent creating posts and responding to any comments or questions. 3.5 Hours per week total, 14 hours per month

Instagram Followers

We have a long term view with the project. The more time we are around the more followers and audience we will build. But to start it is always difficult so we would like to keep things realistic. The goal we have set here we think is achievable and again will grow higher and higher over time. 

Goal is 2000 in the first 6 months

 

Instagram Stories

As mentioned above, posting regular content on Instagram is crucial. Stories are just as popular, if not Moreso, than posts.

Goal is 1 per day, 7 per week, 30 per month, 180 total for the proposal.

Some posts are more creative or involved than others. Some may only take a few minutes to think of and post while others could take an hour or two of research and thought to draft and post.

Budget: 30 minutes per day spent creating Stories and responding to any comments or questions. 3.5 Hours per week total, 14 hours per month

 

Podcasts Made

We have not seen many podcasts either for Cardano or in Spanish. So part of our focus for this proposal is expanding into that medium. 

Goal is 1 per month, 6 total for the proposal

Budget: 10 hours to write, record and publish each month. 

 

Number of Medium Articles

We do not believe that younger students are as focused on Medium as they are on the other social media channels that we are using. But they are good for explaining difficult concepts, making manuals and demonstrations in Spanish on how to set up Cardano wallets or stake your ADA, or making publications specific to project Catalyst such as guides and tips on how to make proposals. So we will set a goal of doing 2 Medium articles per month. It can take quite a bit of time to research and write a good article, so we are going to budget 10 hours of time for each article.  

Goal: 2 articles per month

Budget: 10 hours per article 2 articles per month, 20 hours per month, 5 per week.

In Person Events

Since this challenge is specifically made to attract students into Cardano and Catalyst, we will be holding an in person event at our local University here in Colombia, University Del Valle (https://www.univalle.edu.co/). It is one of the top Universities here in Colombia. We will set up a booth and hand out pamphlets and information about Cardano, Project Catalyst, and how to get more involved in both. We will also be recording video and creating content from the event so that Spanish speaking students from all over the world can view what we are doing and benefit from the information.

Goal: 1 in person event for the proposal period

Budget: There will be a lot of effort to set up the event and prepare for it. We will clear everything with the university, make materials, have 3 people present at the booth, answer any follow up questions that people might have, etc. We are going to budget 30 hours total for this which would be 5 hours per month. 

Project Administration

Creating a proposal through Catalyst has some requirements that must be met. We have to attend meetings in order to stay informed on what is going on and any changes. We must submit monthly reports and share our milestones, we must create closing reports and videos when it is complete. We must distribute funds to our team members and properly do out accounting. This all requires time and energy that we are budgeting for and create KPIs to meet.

Goal is to meet all deadlines on time. All monthly reports, milestones, and submitting closing documents timely. 

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

This proposal is about creating content and sharing information about Cardano through social media channels. Mostly Instagram, Twitter, Medium, YouTube, and Podcasts. These will also be the ways that we share the outputs and results of our project. We take a lot of pride in our work and will want to show it off. We will make it a priority to keep our community updated on where we are at and what we are currently doing. We will share updates on our Milestones, our monthly progress, our close out videos, and our KPIs. We want this project to be as open and transparent as possible, and sharing content on social media is what we do.

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

We recognize that we are a new team in this space. This means that we have not had a chance to prove ourselves yet so we can understand that some voters might find this proposal to be riskier than others. So we have outlined why we believe we are capable to deliver this project with high levels of trust and accountability.

Hardworking Team: We are a team of full time students who work their way through college (one team member just graduated and started her engineering career). We are not afraid of hard work and will do everything it takes to get the job done. We go to school, get good grades, and maintain jobs as well. We hope that this demonstrates that we are hard workers who are not afraid to put in a lot of hours and can multi-task.

Modest Funds Requested: We have lots of cool ideas for how this project can develop and grow over time. But instead of starting with some huge proposals for hundreds of thousands of ADA, we are starting with something very easy and straightforward. The hope is that we can demonstrate our trust and capability here and build on that trust in the future.

Our Pride: This project, comprised only by young latin american women, is an opportunity towards female empowerment and women's autonomy. It is an opportunity to bring more women and latinos into the ecosystem which we take very seriously. For us to take the funds and not deliver, it is a very bad look for other women who want to enter this space and for our countrymen as well. Because of this, we are committed to being good stewards of the funds, because we do not want to let down the people that we represent.

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

Primary goals for the project:

Here I am listing my overall goals for what I hope to accomplish with my project and with my activities on Cardano overall. Please note these are all at a very high level to show the direction I am trying to take this project and what I hope to accomplish. I have provided clear descriptions of how I believe the goals of my project should be measured and considered.

 

1. To increase Cardano’s footprint in Latin America

The majority of the content that we create and share will be in the Spanish language and tailored specifically to Latinos. We believe that this is a very important yet overlooked market for crypto adoption and so creating educational and informational content and materials for it is important. Because it has not been a priority for Cardano so far, we have lagged behind in content tailed to Latin America (although we do have some wonderful people doing some great things already). But by funding this project there will be hundreds of hours of new Spanish content made specifically for the college aged generation. We have provided specific numbers in the KPI section that outline exactly how many new people we hope to bring to our different social media channels.

2. To increase the number of women actively participating in the Cardano ecosystem

Anyone who has spent any amount of time in the Cardano ecosystem has noticed that there are many more men here than women. This is not anyones fault, and we have a lot of great men here. But to not try and bring in 50% of the population that has not had much interest so far is crazy. Our team consists of all women. The content and videos that we make show women discussing Cardano and blockchain overall. When other women see this, it can inspire them to get involved because they see someone who is already like them involved with it. We will be active and passionate members of the ecosystem who are always there to chat and answer questions and encourage more women to enter this space.

3. To educate and empower newcomers who currently have no interest in crypto/blockchain

This project is aimed at the younger generation who is currently in primary/secondary school or University. Our team is from this same demographic so we are able to "speak their language". Im sure you can imagine that it is easier for someones peers to get them interested in a subject than a group of people from completely different generations. Through the content we make we hope to bring many new young people into the ecosystem. And through our University outreach we hope to get at least 10 new teams interested in participating and submitting proposals into Catalyst

 

[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.

We have created these milestones to track our project's progress and have shown its timeline.

Milestone 1: Launch Project

This is to kick off the project. It means that the project was voted and successfully funded. All social media accounts will be set up and ready to go. 

Milestone 2: The Halfway Point

The second milestone will be at the halfway point of the project. This will occur 3 months into the project. The tasks and activities required to reach this milestone will be:

1. Work daily with our social media accounts. Creating our posts but more importantly, engaging with people. Discussing Cardano, Catalyst, things others are working on. Taking a genuine interest in what others are doing and sharing our passion for what we are doing.
2. Work daily creating content. To deliver the amount of videos and articles we have promised, it requires us to work each day to write, record and edit. Each week there will be time devoted to this. 
3. Keep up with Catalyst responsibilities and reporting. We also have to make sure we are on top of our administrative tasks and ensure we are doing our reporting correctly and on time. 

The goal is to reach each of the KPIs we outlined in the “How do you intend to measure the success of your project?” section.

Milestone 3: Project Completion

The third milestone is the successful completion of the project. All KPIs should be hit and all promised content should be delivered. The close out video should be created and submitted. The tasks and activities required to reach this milestone will be:

1. Work daily with our social media accounts. Creating our posts but more importantly, engaging with people. Discussing Cardano, Catalyst, things others are working on. Taking a genuine interest in what others are doing and sharing our passion for what we are doing.
2. Work daily creating content. To deliver the amount of videos and articles we have promised, it requires us to work each day to write, record and edit. Each week there will be time devoted to this. 
3. Keep up with Catalyst responsibilities and reporting. We also have to make sure we are on top of our administrative tasks and ensure we are doing our reporting correctly and on time. 
4. Plan and hold in person meeting. We plan to do this towards the end and will need to dedicate time for several months leading up to the event to properly plan it. 
5. Prepare close out report 

The goal is to reach each of the KPIs we outlined in the “How do you intend to measure the success of your project?” section.

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

Milestone 1: Launch Project

This is to kick off the project. It means that the project was voted and successfully funded. All social media accounts will be set up and ready to go. 

Month 1 Deliverables:

Twitter - Create 30 posts

Instagram - Create 30 posts, 30 stories

Medium - Write 2 articles

Podcast - Create 1 Podcast

YouTube - Create 4 YouTube videos

Month 2 Deliverables:

Twitter - Create 30 posts

Instagram - Create 30 posts, 30 stories

Medium - Write 2 articles

Podcast - Create 1 Podcast

YouTube - Create 4 YouTube videos

Month 3 Deliverables:

Twitter - Create 30 posts

Instagram - Create 30 posts, 30 stories

Medium - Write 2 articles

Podcast - Create 1 Podcast

YouTube - Create 4 YouTube videos

Milestone 2: The Halfway Point

The second milestone will be at the halfway point of the project. This will occur 3 months into the project. The tasks and activities required to reach this milestone will be:

1. Work daily with our social media accounts. Creating our posts but more importantly, engaging with people. Discussing Cardano, Catalyst, things others are working on. Taking a genuine interest in what others are doing and sharing our passion for what we are doing.
2. Work daily creating content. To deliver the amount of videos and articles we have promised, it requires us to work each day to write, record and edit. Each week there will be time devoted to this. 
3. Keep up with Catalyst responsibilities and reporting. We also have to make sure we are on top of our administrative tasks and ensure we are doing our reporting correctly and on time. 

The goal is to reach each of the KPIs we outlined in the “How do you intend to measure the success of your project?” section. 

Month 4 Deliverables:

Twitter - Create 30 posts

Instagram - Create 30 posts, 30 stories

Medium - Write 2 articles

Podcast - Create 1 Podcast

YouTube - Create 4 YouTube videos

Month 5 Deliverables:

Twitter - Create 30 posts

Instagram - Create 30 posts, 30 stories

Medium - Write 2 articles

Podcast - Create 1 Podcast

YouTube - Create 4 YouTube videos

Month 6 Deliverables:

Twitter - Create 30 posts

Instagram - Create 30 posts, 30 stories

Medium - Write 2 articles

Podcast - Create 1 Podcast

YouTube - Create 4 YouTube videos

In Person Event - Hold in Person Event

Milestone 3: Project Completion

The third milestone is the successful completion of the project. All KPIs should be hit and all promised content should be delivered. The close out video should be created and submitted. The tasks and activities required to reach this milestone will be:

1. Work daily with our social media accounts. Creating our posts but more importantly, engaging with people. Discussing Cardano, Catalyst, things others are working on. Taking a genuine interest in what others are doing and sharing our passion for what we are doing.
2. Work daily creating content. To deliver the amount of videos and articles we have promised, it requires us to work each day to write, record and edit. Each week there will be time devoted to this. 
3. Keep up with Catalyst responsibilities and reporting. We also have to make sure we are on top of our administrative tasks and ensure we are doing our reporting correctly and on time. 
4. Plan and hold in person meeting. We plan to do this towards the end and will need to dedicate time for several months leading up to the event to properly plan it. 
5. Prepare close out report 

The goal is to reach each of the KPIs we outlined in the “How do you intend to measure the success of your project?” section. 

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

Labor

We have first broken down the labor for each of our main deliverables in hours. These hours will be used below to calculate a proper and fair budget. Remember that we have 3 team members performing these tasks which make the hours reasonable for each week and month.

Project Administration

Goal is to meet all deadlines on time. All monthly reports, milestones, and submitting closing documents timely. 

Budget: We are budgeting 6 hours per month for these tasks. 30 hours for the total 6 month proposal.

Youtube Videos

Goal is 1 per week. 4 per month, 24 total for the proposal.

Budget: We estimate each video takes about 15 hours to write the material, shoot the video, edit it, post it, and field and comments or questions that arise after it is posted. Our concept is to focus on short and direct to the point content which may seem like it would be cheaper. But it takes a lot of effort to write and shoot material quickly and in an entertaining way that people will actually learn from and remember. 60 hours per month.

   

Instagram Posts

Goal is 1 per day, 7 per week, 30 per month, 180 total for the proposal.

Some posts are more creative or involved than others. Some may only take a few minutes to think of and post while others could take an hour or two of research and thought to draft and post. It is also important to spend time each day interacting with people about their posts. 

Budget: 1 hour per day spent creating posts, responding to any comments or questions, and interacting with people about Cardano. 7 Hours per week total, 28 hours per month.

 

Instagram Stories

Goal is 1 per day, 7 per week, 30 per month, 180 total for the proposal.

Some posts are more creative or involved than others. Some may only take a few minutes to think of and post while others could take an hour or two of research and thought to draft and post.

Budget: 1 hour per day spent creating posts, responding to any comments or questions, and interacting with people about Cardano. 7 Hours per week total, 28 hours per month.

Twitter Posts

Goal is 1 per day, 7 per week, 30 per month, 180 total for the proposal.

Budget: 1 hour per day spent creating posts, responding to any comments or questions, and interacting with people about Cardano. 7 Hours per week total, 28 hours per month.

 

Podcasts Made

We have not seen many podcasts either for Cardano or in Spanish. So part of our focus for this proposal is expanding into that medium. 

Goal is 1 per month, 6 total for the proposal

Budget: 15 hours to write, record and publish each month. 

 

Medium Articles

Goal: 2 articles per month

Budget: 15 hours per article 2 articles per month, 30 hours per month.

In Person Events

Goal: 1 in person event for the proposal period

Budget: We are going to budget 30 hours total, 5 hours per month.

Total hours per month = 200

Hourly Rate = 5 dollars per hour

Total requested for hours = 1000 dollars per month. 6,000 dollars total

Equipement 

Microphone

We can make great content but if it doesn't sound good and professional it will not be very effective. We are budgeting for a new microphone to record our content and have it sound professional. 

Budget: 709.900 COP, $172 USD

Campus presentation booth and materials

We will need to get a booth, transportation to and from the event, pamphlets and promotional materials for the event.

Budget: 300 USD

Total Equipment = $472

3rd party Contractors

Graphic Design Work

Our core team has basic skills with photoshop and can make some great materials, but there are also instances where it is nice to have professionally made advertisements, promotional materials, or educational infographics. We plan to utilize these throughout the project and would hire freelancers to assist.

Budget: 600 USD

Advertisement

In order to grow the account we will want to advertise. This would not utilize bots, it would be having a paid story or promotion by other popular social media account. 

Budget: 600 USD

Total Contractors = 1200

Total Budget Amount (in Dollars) = 6,000 + 472 + 1200 = $7,672

We are using a conversation rate of .26 which is a bit lower than it currently is. But we have made this budget vary carefully and would have a lot of difficulty if the price of ADA dropped much from here. We hope this is fair to the community and fair to our team. 

Total Budget Amount (in ADA) = 7672/.26 = 29,507 ADA

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

Our team believes that we are providing a great deal of value and content for the money that we are requesting. We will breakdown why for you here.

Hourly Rate: Our proposal has outlined in detail that we plan to provide 200 hours of labor per month on this proposal. This would be 1200 hours for the entire 6 months that this covers. We are doing it at a labor rate of 5 dollars an hour. This would be on the extreme low end for people who come from western countries, but in Colombia where we work it is a very fair salary that ensures that quality work will be done. After scanning through many other proposals this round, we believe that this rate is extremely competitive and provides a great value for what we will provide.

Three People Working: This proposal is for 3 peoples work, not just one. Similarly to the point above, it would be difficult to hire 3 people for 1000 dollars per month in many places in the world but here it is possible. The minimum wage here in Colombia is 1,300,606 COP which is about 314 USD. So the amount that we are requesting is about a minimum wage per person.

Lower Amount Requested: The maximum amount anyone can request for this challenge is 39480. Therefore, we have seen that many people are requesting this amount or right around this amount. We calculated exactly what we expect to need for the proposal and it is about 75 percent of the total. We think this is fair because it allows more projects to get funding in this category and we are not being wasteful or requesting anything more than we might need.

We hope that explains why the cost and amounts included in our budget are fair. We also hope that we have explained the value that something like this project will bring properly throughout our proposal.

[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