Offchain Impact analysis of Project Catalyst Fund Distribution and Performance from Fund 9 to Fund 12

[GENERAL] Name and surname of main applicant

Sheraz Ahmed

[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)

9

[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)

Conduct an off-chain data analysis to evaluate fund distribution, project success rates, and sustainability of Catalyst-funded projects, providing actionable insights for optimized resource allocation

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

Yes

[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.”

Key Dependencies:

1. Catalyst Data Access: Collaboration with Catalyst to access fund allocation reports, project performance data, and institutional partnership information.
2. External Partner Collaboration: Collaboration with selected Catalyst funded Projects to track project progression and sustainability.
3. 4 Projects from each category shall be picked for the study. Some of the data could be inferred from third-party sources as a turn-around in cases where the data is not readily available from the projects.
4. The ICPs for each of the projects shall be provided basis which the projects shall be selected

[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

Notion websites:

All the research findings will be published on Notion, including the reports, appendices, interview minutes and any other literature reviewed.

Youtube Videos:

The presentation of the report shall also be published as a publicly listed YT video

[METADATA] Horizons

Research

[SOLUTION] Please describe your proposed solution

a. Methodology:

The methodology will focus on collecting and analyzing off-chain data to evaluate the effectiveness of Catalyst’s fund allocation, project execution, and long-term sustainability.

• The research will involve both qualitative and quantitative data analysis, leveraging community feedback, project reports, and institutional partnership data. The study will be divided into key sections, each designed to address specific off-chain factors influencing project outcomes.
• The research shall be carried out in the form of case-studies by the category of projects. The case-studies shall be published on on-going basis, providing a good margin for feedback and improvement.

1. Qualitative Interviews: Conduct interviews with key stakeholders (developers, community members, and institutions) to gather feedback on project performance and sustainability.
2. Quantitative Data Analysis: Analyze data related to project funding, progress, and success rates to identify trends and inform future funding strategies.

b. Sections for Analysis

Section B1: Fund Allocation Distribution

Objective

Evaluate the distribution of Catalyst funds across different project types and sizes to assess alignment with strategic goals. This will help identify patterns in funding allocation and determine if resources are being distributed equitably to support a balanced ecosystem growth.

Data Points Needed

• Fund Allocation Per Project: Amount of funding distributed to each project.
• Project Classification: Categorization of projects (e.g., infrastructure, community) to analyze fund allocation by type.
• Project Size: Categorization of projects as small, medium, or large to evaluate distribution by size.

Metrics to Aim For

• Allocation Proportions by Project Type and Size: Measure how funds are allocated across different project types and sizes.
• Alignment with Cardano Ecosystem Goals: Assess whether the allocation supports ecosystem priorities and strategic objectives.

Data Source

Catalyst fund allocation reports.

Dependencies

Integration of fund allocation records with project classification data for accurate analysis.

Section B2: Project Success Rates

Objective

Analyze the success rates of projects based on deliverables, community impact, and support received. This will help identify which factors contribute most to successful project completion.

Data Points Needed

• Number of Projects Meeting Deliverables: Track projects that have achieved their stated goals and deliverables.
• Community Feedback on Performance: Collect feedback from the community on project impact and outcomes.
• Ecosystem Support Provided for Projects: Data on support (e.g., partnerships, mentorship) that projects received during their execution.
• Delivery Timelines and Dependencies: Monitor project delivery timelines and any dependencies that may have influenced project outcomes.

Metrics to Aim For

• Success Rates by Project Size and Type: Measure success rates for different categories and sizes of projects.
• Impact of Ecosystem Support on Success: Assess how support mechanisms contribute to project success.

Data Source

Catalyst project reports, community feedback platforms, and Catalyst milestone tracking data.

Dependencies

Access to project data and community feedback to evaluate project outcomes accurately.

Section B3: Sustainability of Funded Projects

Objective

Track the long-term sustainability of funded projects to assess their continued impact on the Cardano ecosystem. This analysis will help understand whether projects are capable of maintaining operations and delivering value over time.

Data Points Needed

• Quarterly Tracking of Projects Post-Funding: Monitor projects at regular intervals to check their status and performance.
• Sustainability Challenges: Identify issues such as scalability, funding gaps, and operational challenges that affect long-term sustainability.

Metrics to Aim For

• Percentage of Projects Operational After One Year: Determine the proportion of projects still active after one year.
• Key Challenges Affecting Long-Term Success: Identify challenges that may hinder the sustainability and success of projects.

Data Source

Catalyst project tracking data.

Dependencies

Collaboration with project teams and access to long-term tracking mechanisms.

Section B4: Community Engagement

Objective

Evaluate the impact of community participation on project success. This analysis will help understand the role of community support in driving positive project outcomes and ecosystem growth.

Data Points Needed

• Forum Participation and Community Sentiment: Measure engagement and sentiment through community forums and discussions.
• Social Media Engagement: Analyze social media interactions related to projects to gauge broader community interest.

Metrics to Aim For

• Engagement Levels: Measure forum participation and overall sentiment.
• Correlation Between Engagement and Project Success: Determine the relationship between community engagement and successful project outcomes.
• Community Ownership Analysis: Evaluate the role of community ownership and its correlation with project engagement.

Data Source

Community forums, social media data, and Catalyst community engagement records.

Dependencies

Access to community engagement data and integration with project metrics.

Section B5: Progression from Idea to Product

Objective

Track project progression from the idea phase to MVP and full product to identify potential bottlenecks and improvement areas in the development lifecycle.

Data Points Needed

• Project Progression Data: Data on project progress through stages (idea, MVP, product).
• Time Taken for Each Development Phase: Track the time taken for projects to move through various stages.

Metrics to Aim For

• Percentage of Projects Progressing to MVP/Product: Measure the proportion of projects successfully moving from idea to MVP or full product.
• Average Time for Progression Between Phases: Identify delays and bottlenecks in project development.

Data Source

Catalyst project reports and collaboration with external partners.

Dependencies

Collaboration with Catalyst and project teams to access progression data and insights.

c. Additional Metrics to Study depending on feasibility

c1. Adoption Metrics: Adoption sentiment evolution wrt time of non native Cardano projects to deploy on the chain asking for a grant.

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

• The study aims to assess the impact of the Catalyst grants program as a foundation for shaping future grant initiatives within the Cardano ecosystem.
• Understanding past grant programs, identifying failure models, success formulas, helps figure out Grant fund allocation strategy
• Conducting a detailed analysis of funded projects are crucial for this evaluation. Our research focuses on key factors that provide insights at both micro and macro levels, using the five pivotal areas mentioned above to measure the overall impact comprehensively.
• By doing so, it will enable more informed decision-making for future funding rounds, optimize resource allocation, and improve governance mechanisms.

[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?

Our team has an established track record of delivering impactful research, educational and strategic insights for Project Catalyst. Over the last two funding cycles, we have successfully secured and executed nine Catalyst grants, demonstrating our ability to manage complex projects while consistently meeting the expectations of the Cardano community.

• This experience includes a comprehensive RFI (Request for Information) research report that provided detailed comparitive analysis on Grants and the impact of previous funding rounds, laying a strong foundation for this proposed study.
• Storm team brings strong on-ground experience and understanding of the Cardano ecosystem. Both Managing Partner, Sheraz, and Director, DJ Bodden, possess deep knowledge of the ecosystem and have a strong track record of executing high-impact projects. Their combined corporate and Web3 expertise provides a robust blend of structural and domain-specific skills, ensuring that the project is managed with strategic oversight and operational excellence.
• Leading this initiative is our principal investigator, a former Polygon Voucher Grants Lead, who has a wealth of experience in designing and executing ecosystem programs for various blockchain initiatives. This expertise positions our team to deeply understand the nuances of grant allocation, program performance, and ecosystem development. With this background, we are uniquely equipped to conduct a thorough analysis of Catalyst-funded projects, assessing their effectiveness, identifying key success factors, and exploring potential failure models
• By leveraging our extensive experience, proven methodologies, and a team that is well-versed in both blockchain and traditional business domains, we are confident in our ability to deliver actionable insights and strategic recommendations that will help optimize Catalyst’s future funding decisions and further strengthen Cardano’s ecosystem.

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

Milestone 1: Finalizing Research Objectives and Metrics

Output:

1. Finalized research objectives, metrics to be evaluated
2. List of projects to be interviewed by category across Fund 9 to Fund 12.

Acceptance Criteria:

1.1. Research objectives clearly defined and aligned with the project’s scope and impact goals.

1.2. Metrics for evaluation outlined, covering on-chain parameters.

2. Selection of projects from each category completed and agreed upon by the team and stakeholders.

Evidence:

1. A documented research plan including objectives, metrics, and selected projects.
2. List of shortlisted projects for interviews, shared as a formal document.

Milestone 2: Three Case Studies across 3 categories Published

Output:

1. Two comprehensive case studies on Catalyst-funded projects completed and published.

Acceptance Criteria:

1.1. Each case study includes detailed analysis of project milestones, on-chain impact, and alignment with Fund goals.

1.2. Case studies meet the research objectives and provide actionable insights.

1.3. Published case studies

Evidence:

1. Case study reports shared as separate documents or blog posts with link to the published case study reports.
2. Case study shared with the projects part of the study

Milestone 3: Three Case Studies case studies across 3 more categories Published

Output:

1. Two additional case studies on Catalyst-funded projects completed and published.

Acceptance Criteria:

1.1. Case studies implement previous community reviews (if any) and provide new insights.

1.2. Each case study aligns with the research objectives

1.3. Published case studies

Evidence:

1. Case study reports shared as separate documents or blog posts and link to published case study
2. Case study shared with the projects part of the study

Milestone 4: Full Report and Community Feedback

Output:

1. Comprehensive final report including key takeaways, research findings, and community feedback across all six case studies.

Acceptance Criteria:

1.1. Final report includes a synthesis of findings from all case studies.

1.2. Report outlines actionable recommendations for Project Catalyst and the broader Cardano ecosystem.

Evidence:

1. Final report shared with the Catalyst community and stakeholders.
2. Presentation of findings through a dedicated community session or webinar.
3. Feedback from the community and stakeholders documented and incorporated into the project closure report.

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

Sheraz Ahmed - Managing Partner

https://www.linkedin.com/in/sherazahmed1/

Sheraz Ahmed has advised hundreds of organisations on the implementation of modern Web3 practices to further their business objectives. As the Managing Partner of STORM Partners, an all-in-one service provider, and as the Co-Executive Director of the Crypto Valley Association, he drives growth, collaboration, and integrity across the global blockchain ecosystem!

Darby (D.J.) Bodden - Director of Operations & Ecosystem Department

https://www.linkedin.com/in/d-j-bodden-00598a5b/ 

D.J. is a 20-year professional with a focus in organizing both large formal and small startup operations. He started as a military officer, and then transitioned to commodity trading before helping start and fund a blockchain traceability startup from the ground up, working with large enterprises to deliver the solution. He has since then used the lessons learned from those experiences to help businesses refine their strategy, operations, and processes.

Natcha Chaiprasit - Project Manager/ Data Analyst 

https://www.linkedin.com/in/natchanok-c-308849168/

Natcha is a Sr. Analyst in the Ecosystem department at STORM Partners, with a master's degree from the London School of Economics (LSE). With deep exposure to the blockchain ecosystem, Natcha currently oversees Catalyst grants from Cardano, applying her expertise in project management to support the development and execution of key initiatives. 

Channabasava - Team Lead 

Lead Cardano Grants analysis reports, and been on the founding team of Polygon’s Grants function Prev. Voucher Grants Lead at Polygon, founding member Polygon Village and Polygon DAO. Experienced across building Grants and Ecosystem programs  

General Manager of Decentral House.

Ellissa Koch

https://www.linkedin.com/in/ellissakoch/

Ellissa Koch has a Master's in Business Administration,with over 10 years of experience in marketing, sales, and client relations. She has experience working in various sectors including art, fashion, finance, and publishing, and is committed to expanding the reach of women in industry.

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

[BUDGET & COSTS]

The proposed project budget is structured to cover all essential resources and operational expenses for effective execution and delivery. The total estimated cost is 96,789 ADA, broken down as follows:

a. Project Manager: 38,000 ADA  

  The Project Manager will oversee interview logistics, project coordination, and overall execution. This role includes managing project timelines, ensuring milestones are met, coordinating communication with stakeholders, and integrating feedback into research findings.

b. Researchers (2): 30,000 ADA  

  The two researchers will conduct detailed research, data collection, and analysis across all five sections. Their responsibilities include performing interviews, synthesizing data, and compiling comprehensive reports on fund distribution, project success rates, and sustainability.

c. Subject Matter Expert (SME): 25,000 ADA  

  The SME will provide strategic guidance and validation of research findings. Their expertise will ensure that the research methodology and outcomes align with Cardano’s strategic priorities. The SME will also review final reports and provide in-depth insights on data interpretation and impact assessment.

d. Miscellaneous Costs: 3,789 ADA  

  This includes expenses for data tools, software licenses, cloud hosting, and other resources required for data collection, analysis, and storage. Additional costs cover reporting tools and software used for generating visual dashboards and presentation materials.

Additional Considerations:  

• Data Tools and Software: The budget includes professional data analysis tools to manage and analyze collected data, ensuring high accuracy and integrity of results.
• Documentation and Reporting: Resources are allocated for comprehensive documentation, report creation, and publication to ensure findings are accessible to the Catalyst community.
• Community Engagement and Communication: Funds are set aside for conducting community sessions and workshops to present findings and gather feedback.

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

This project provides excellent value for money by offering in-depth insights into Project Catalyst’s operations and funded project performance. The outcomes will help improve the allocation of future funds and foster greater community engagement, while also driving transparency in the ecosystem. The ongoing publication of case studies allows for iterative feedback and improvement, ensuring the community's resources are used effectively for Cardano’s long-term growth.