TrustPilot for DReps: On-Chain DReps Rating & Review Score Algorithmic Framework for Cardano Governance

[GENERAL] Name and surname of main applicant

Sricharan Ganta

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[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] Summarize your solution to the problem (200-character limit including spaces)

We propose an open-source scoring framework for DReps, like Trustpilot, featuring customizable algorithms for rating DReps based on parameters like on-chain activity, social media engagement & more

[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] Please provide here more information on the open source status of your project outputs

All project outputs, including developed software, tools, and documentation, will be fully open-source under the Apache 2.0 or MIT License. The codebase will be freely accessible and regularly updated in the GitHub repository.

[METADATA] Horizons

Governance

[SOLUTION] Please describe your proposed solution

Cardano Governance lacks a transparent and objective reputation system for decentralized representatives (DReps), making it difficult for users to make informed delegation choices.

The solution is an open-source, developer-friendly scoring framework for DReps, similar to Trustpilot’s review and rating system. This framework enables comprehensive evaluation of DReps using customizable algorithms that account for multiple parameters such as on-chain activity, governance participation, community feedback, and more. By offering a transparent and modular scoring mechanism, the framework fosters trust, accountability, and efficiency in Cardano’s decentralized governance, benefiting developers, DReps, and delegators.

How It Works

Data Collection:

• On-Chain Activity: The framework tracks governance participation, proposal submissions, voting patterns, staking behavior, and other on-chain activities that reflect a DRep’s engagement with the Cardano ecosystem.
• Off-Chain Contributions: Beyond on-chain data, the framework can incorporate a range of factors such as contributions to codebases, educational content, governance proposals, or industry events.
• Community Feedback: Users can submit reviews and ratings based on their experiences with dReps, offering qualitative insights that enhance quantitative metrics.

Customizable Scoring Algorithms:

• The framework will feature a set of customizable algorithms allowing developers and stakeholders to adjust weightings for different evaluation metrics (on-chain activity, off-chain contributions, community feedback).

• The scoring framework provides flexibility, enabling developers to introduce new metrics, expand functionality, or build custom scoring modules for specific governance tasks.

Transparency and Reporting:

• Scores will be publicly accessible through a dedicated platform with dashboards, historical performance data, and detailed scoring breakdowns. This ensures transparency and helps users make informed decisions.
• Regular updates to scores will create accountability for DReps, encouraging ongoing participation and improvement.

Key Components

Open-Source Repository:

• A GitHub repository will host the entire framework, allowing developers to contribute to its growth. This collaborative approach ensures the framework is flexible, modular, and continuously improving to meet the Cardano community’s needs.

Developer-Friendly Tools:

• The framework provides developers with tools for creating custom algorithms, fine-tuning parameters, and integrating additional data sources. For example, sliders and visual tools can help adjust the weight of different metrics like governance participation or code contributions.
• Developers can also integrate external APIs and platforms to add more dimensions to the scoring, expanding the framework’s potential use cases.

Seamless Integration with Cardano Ecosystem:

• The framework is designed to easily integrate with Cardano wallets, governance platforms, and decentralized applications (dApps), making it a native part of the ecosystem.
• It will also be compatible with Cardano Improvement Proposals (CIPs) and governance platforms like Project Catalyst, ensuring scalability and easy adoption.

User Interface:

• A user-friendly web interface will allow all stakeholders to view DRep scores, track performance, and submit feedback. The platform will include search functionality, filtering options, and interactive charts to help users easily navigate the data.

Benefits

For Developers:

• Customizable Tools: Developers can adjust scoring algorithms to fit specific governance models, creating a framework that aligns with their projects or governance standards.
• Insights & Decision-Making: The framework offers insights into the most active and trusted dReps, aiding developers in partnership decisions and creating a more transparent governance structure.
• Collaborative Development: As an open-source project, developers can extend and enhance the framework, continuously improving governance evaluation tools.

For dReps:

• Reputation Building: DReps can boost their reputation by actively participating in governance and contributing to the ecosystem, with their scores reflecting this engagement.
• Accountability: DReps can receive real-time feedback from the community, helping them improve and align their actions with community expectations.
• Increased Visibility: DReps with higher scores are more likely to attract delegators, increasing their influence within the Cardano ecosystem.

For Delegators:

• Informed Decision-Making: Delegators can assess DReps based on comprehensive, data-driven evaluations rather than relying solely on reputation or word-of-mouth.
• Delegation Confidence: By offering clear and detailed reports, the framework enables delegators to confidently choose dReps that align with their governance priorities.

Conclusion:

The open-source scoring framework for DReps introduces a flexible and transparent solution for evaluating representatives in Cardano Governance. With customizable algorithms and a developer-friendly environment, it enhances trust, accountability, and participation in the ecosystem. The framework empowers developers, DReps, and delegators alike, fostering a collaborative and reliable governance structure that evolves alongside the Cardano blockchain.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

The open-source scoring framework for DReps will enhance transparency, trust, and accountability in Cardano governance. By providing a comprehensive and data-driven evaluation system, it will empower delegators to make informed decisions, boost dReps’ engagement, and improve governance efficiency.

Measuring Impact:

Quantitative Metrics:

• Number of DReps evaluated.
• Delegator engagement (e.g., number of ratings and reviews submitted).
• On-chain activity changes for highly rated DReps.
• Increased delegator confidence, measured by delegation volume shifts towards highly rated DReps.

Qualitative Metrics:

• Feedback from DReps on improved visibility and reputation.
• User satisfaction and trust in governance decisions.
• Community feedback on transparency and decision-making improvements.

Sharing Outputs:

GitHub Repository: The framework will be publicly available for collaboration and contributions.

Tutorial: Educational tutorial for developers and users to enhance adoption and understanding.

This project will drive trust and efficiency in the Cardano ecosystem, encouraging broader participation and higher-quality governance outcomes.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Proven Track Record:

Our team has consistently delivered innovative blockchain solutions, recognized for their impact and technical precision. We have demonstrated our ability to drive innovation and create valuable contributions to the Cardano ecosystem, which can be explored at nucastlabs.xyz.

Development Team:

Our highly skilled development team has extensive experience working on the Cardano platform and blockchain technology. With wins at the IAGON Hackathon and first prize at the Midnight Hackathon at Rarevo, our team's expertise in dApp and smart contract development is proven and trusted within the space.

Partnerships and Collaborations:

We have worked closely with key players in the Cardano ecosystem, including NMKR, NEWM, Cardano Foundation, Rare Evo, Midnight Team, Iagon, and more, to collaboratively deliver impactful solutions. These partnerships have been instrumental in ensuring our projects are well-positioned for widespread adoption and scalability across the ecosystem, enhancing both their reach and overall impact.

Community Engagement:

We are deeply involved in the Cardano community, actively contributing to governance, technical initiatives, and workshops. Our commitment to the ecosystem’s growth and sustainability reflects our dedication to supporting and fostering innovation.

Ensuring Feasibility & Refinement:

We will focus on thorough testing and continuous improvement of our solution. Feedback from early users, partners, and the broader community will guide refinements, ensuring a smooth, user-friendly experience and optimal integration with other platforms.

Budgeting and Financial Reporting:

We are committed to maintaining transparency in all financial aspects. In accordance with Catalyst guidelines, we will provide regular updates on our progress, financial reports, and any challenges faced. Community feedback will be actively sought to ensure alignment with ecosystem goals.

This holistic approach, underpinned by technical expertise, strong partnerships, and active community engagement, ensures that our project will significantly enhance trust, transparency, and scalability within the Cardano ecosystem.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Project Kickoff

A. Milestone Outputs

• Project Initiation Report:
• Comprehensive evaluation of the current landscape for scoring frameworks applicable to dReps on Cardano.
• Identification of key challenges in implementing a scoring system, including data reliability and algorithm customization.
• Technology Assessment:
• Analysis of existing open-source libraries and their applicability to the scoring framework for high-frequency data collection and processing.
• Review of Cardano's capabilities in managing decentralized data and integrating with existing dApps.

B. Acceptance Criteria

• Completion of Initiation Report:
• The report provides an in-depth understanding of opportunities for utilizing a scoring framework to evaluate dReps effectively.
• Includes a comparative study showcasing how the proposed framework enhances trust through transparency, user engagement, and data reliability.
• Clearly identifies the project's scope, objectives, and potential impact on the Cardano ecosystem.

C. Evidence of Milestone Completion

• Initiation Report:
• A finalized and comprehensive document submitted to the project repository.

Framework Technical Design

A. Milestone Outputs

• Technical Feasibility Report:
• Detailed outline of the technical requirements for developing the scoring framework with customizable algorithms.
• Identification of data sources, APIs, and integration points for seamless scoring services on Cardano.
• Challenges in achieving high data throughput and user trust, with proposed solutions.
• High-Level Architectural Design:
• Comprehensive architecture diagram illustrating how the scoring framework leverages Cardano’s capabilities for transparency and efficiency.
• Specifications for the user interface, data collection methods, and scoring algorithm management tools.

B. Acceptance Criteria

• Technical Feasibility Confirmation:
• Validation that the scoring framework can handle the demands of real-time data collection and processing.
• Clear identification of all technical dependencies, along with mitigation strategies.
• Architectural Design:
• The architectural design for the scoring framework aligns with Cardano’s security and decentralization principles.

C. Evidence of Milestone Completion

• Technical Feasibility Report:
• A detailed report submitted and reviewed by the technical team.
• Architectural Design Document:
• A finalized architecture document available in the project repository, demonstrating the framework's role in enhancing trust and transparency.

Technical Prototyping

A. Milestone Outputs

• Framework Prototype:
• A functional prototype demonstrating key features such as:
• Seamless integration of on-chain data for dRep scoring.
• Customizable algorithms for evaluating dReps based on various parameters, including social engagement and community feedback.
• Sandboxed Testing Environment:
• A secure testing environment configured to validate the framework’s scalability, functionality, and security using simulated scoring scenarios.

B. Acceptance Criteria

• Successful Prototype Demonstration:
• The prototype showcases the core features, including the customizable scoring capabilities and data integration with existing dApps.
• Demonstrates the ease of interaction for users in accessing dRep scores and providing feedback.
• Stable Sandboxed Testing:
• The sandbox operates reliably with no major bugs or security vulnerabilities.
• Successfully replicates real-world scoring use cases, validating the effectiveness of the framework.

C. Evidence of Milestone Completion

• Prototype Documentation:
• Comprehensive documentation detailing the prototype’s capabilities and integration process.
• Sandboxed Testing Documentation:
• Detailed records of test scenarios and outcomes, demonstrating scalability and effective data processing.

Mainnet Deployment and Project Close-out

A. Milestone Outputs

• Final Project Completion and Closure Report:
• Comprehensive documentation covering all project phases, from initiation to deployment.
• Summary of key achievements, lessons learned, and evaluation against initial objectives.
• Mainnet Deployment:
• Full deployment of the scoring framework on the Cardano mainnet.
• Clear guidelines and best practices for developers and users to adopt the scoring framework seamlessly.

B. Acceptance Criteria

• Comprehensive Documentation:
• The closure report includes a detailed analysis of the project’s technical achievements and overall impact on Cardano’s transparency and user engagement.
• Evaluation of the project’s success based on predefined KPIs, including user trust, scoring accuracy, and engagement metrics.
• Mainnet Deployment:
• The scoring framework is fully functional and accessible on the Cardano mainnet, with detailed usage guidelines for developers and users.

C. Evidence of Milestone Completion

• Final Project Closure Report and Presentation:
• A detailed report submitted to the project repository, summarizing project outcomes and achievements.
• Mainnet Deployment Documentation:
• Developer and user documentation available in Markdown format on GitHub, ensuring easy access for integration with dApps and community feedback mechanisms.

[RESOURCES] Who is in the project team and what are their roles?

Sricharan Ganta, CEO @ Nucast

Sricharan is a entrepreneur and business development strategist with over seven years of experience in business-driven roles and over four years of experience in the web3 domain. He has a successful track record of delivering innovative products on the Cardano Blockchain. As the CEO of Nucast, Charan is extremely passionate about community building and pioneering solutions. He currently leads a dynamic team of 15+ professionals at Nucast Labs. Additionally, he holds a Masters in Computer Science from the University of Central Missouri, USA.

Sam Jeffrey M, CTO @ Nucast

Building tech on Cardano for 3+ years. Midnight Pioneer 1st Cohort. Worked as Plutus Consultant at Gimbalabs. Awarded the Presidential Award for Innovation 2021 by the Government of India.

Nucast Labs : Successfully built various scalable Cardano dapps. Nucast is proud to host a highly skilled and experienced development team of 15+ members with over 30 years of combined industry experience.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone 1: Idea Validation and Market Research

       Cost: 10,000 ADA

• Project Manager: 5,000 ADA
• Market Researcher: 5,000 ADA

Milestone 2: Concept Development and Design

        Cost: 30,000 ADA

• Project Manager: 6,000 ADA
• Senior AI Engineer: 10,000 ADA
• Cardano Solution Architect: 14,000 ADA

Milestone 3: Technical Feasibility and Prototyping

     Cost: 40,000 ADA

• Project Manager: 5,000 ADA
• Cardano Smart Contract Developer: 20,000 ADA
• Senior AI Developer: 15,000 ADA

Final Milestone: Platform Deployment and Launch

      Cost: 10,000 ADA

• Project Manager: 4,000 ADA
• Cardano Solution Architect: 6,000 ADA

Total Budget: 90000

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

The cost of our open-source scoring framework for dReps represents significant value for the Cardano ecosystem by prioritizing efficiency and maximizing impact. Here’s how:

Lean Development Approach:

We adopt a lean development methodology, focusing on delivering a minimum viable product (MVP) that can be iteratively improved based on community and developer feedback. This ensures efficient use of resources and effective fund allocation, reducing unnecessary overhead.

Cost Justification:

The project costs are aligned with the anticipated impact on Cardano's Governance. By investing in a transparent, customizable scoring framework, we aim to enhance the decision-making process for delegators, drive greater participation in governance, and foster accountability among DReps, all of which will strengthen the ecosystem.

Long-Term ROI:

The initial investment will create a comprehensive evaluation tool for DReps, increasing delegator engagement, promoting governance integrity, and attracting more stakeholders to participate in Cardano’s decentralized decision-making. This will generate ongoing value for the ecosystem and encourage wider adoption of Cardano Governance.

In summary, the project’s costs are justified by its potential to deliver a transparent, impactful platform that enhances trust, scalability, and participation, driving long-term innovation within the Cardano community.