Waffle Capital - Monthly “State of Cardano” Reports

[GENERAL] Name and surname of main applicant

Waffle Capital Ltd.

[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)

12

[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)

Publish monthly 'State of Cardano' reports on our website, social media, and GitHub, engaging the community for broader reach and encouraging institutions and individuals to explore the blockchain.

[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 materials would be on (an) open source Github repo(s) with Apache-2.0 license.

[METADATA] Horizons

Education

[SOLUTION] Please describe your proposed solution

Information about Cardano’s updates and progress is currently fragmented, and there is no entity providing consistent monthly reports that comprehensively cover the ecosystem’s developments and key metrics. Our solution addresses this gap through a two-part approach:

• Monthly “State of Cardano” Reports:

We will produce a well-curated monthly summary of all essential information and metrics related to the Cardano blockchain. This will include updates on project launches, ecosystem developments, governance news, and quantitative data such as Total Value Locked (TVL), treasury balance, and daily transactions. While Messari.io offers a quarterly report, it is often delayed by over a month. Our reports will be more frequent, timely, and specifically tailored to the needs and interests of the Cardano community. Given our extensive involvement with Cardano since 2017 personally, and professionally since 2022, we have the expertise to curate the most relevant and impactful information for the community.

•  Collaborative Community Effort:

To ensure the reports are meaningful and valuable, we will actively collaborate with the Cardano community. By seeking input on the topics and metrics that matter most, our reports will reflect the diverse needs and interests of all stakeholders. This approach aims to create a sustainable, community-driven resource that grows with Cardano, promoting a sense of shared ownership and transparency. Our goal is to build an informed and engaged community, working together to support the ecosystem’s ongoing development and success.

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

• Streamline Access to Ecosystem Updates

With so much happening within the Cardano ecosystem, it can be challenging for community members and newcomers to stay informed. This proposal aims to streamline access to key updates by curating comprehensive monthly reports that highlight essential developments, project launches, governance updates, and key metrics, making it easier for everyone to stay up to date

• Empower Community Engagement and Outreach

The well-curated reports will provide Cardano community members with accurate, up-to-date information, enabling them to effectively communicate Cardano's advancements and opportunities to a broader audience. This will help strengthen Cardano’s presence and attract more interest, investment, and collaboration from external stakeholders.

• Foster a Collaborative and Inclusive Community Effort

This proposal serves as a foundation for collaboration within the Cardano community. By gathering input on the most relevant updates, news, and developments, we will create a resource that aligns with the interests and needs of the community. This collaborative approach aims to build a sense of shared ownership and strengthen community connections, ensuring the reports remain valuable, accurate, and up-to-date as Cardano evolves.

[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?

Waffle Capital has a proven track record of engaging with the Cardano community and supporting its growth, as demonstrated through our past events and consistent presence shared via social media. Our commitment to building platforms that allow the community to shine and provide learning opportunities for those outside of Cardano is evident, and we will continue this effort to ensure more Cardano projects can access and capitalize on business opportunities.

With over two years of experience operating within the Cardano blockchain, we have developed a deep understanding of the ecosystem and its key sources of information. Our long-standing presence enables us to identify and aggregate the most relevant updates, metrics, and developments from trusted sources. This expertise ensures that we can produce comprehensive, accurate, and timely reports that reflect the evolving state of the Cardano ecosystem.

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

Objective: Establish a solid foundation for the project by setting up the necessary infrastructure, assembling the team, and defining project management practices.

Activities:

• Confirm core team members and advisors.
• Establish project management tools.

Acceptance Criteria:

• Public announcement on core team members and advisors.
• Project management tools and systems set up.

Objective: Determine which metrics are most important for the Cardano community and identify reliable sources for gathering this information. Also determining which information/key metrics are important to those who are part of the wider crypto community and non-crypto community 

Activities:

• Engage directly with key community members and stakeholders to identify the most relevant metrics of interest.
• Research and verify reliable sources for the identified metrics, such as TVL, treasury balance, governance updates, and other relevant data points.
• Develop a preliminary framework for the report based on these findings.

Acceptance Criteria & Evidence:

• Documentation of insights gathered from community members and stakeholders.
• Compilation of a list of the most relevant metrics and their reliable sources.
• Preliminary framework for the monthly report prepared for review.

Objective:Engage the community to validate the selected metrics and publish the first monthly report based on their feedback.

Activities:

• Share the preliminary framework and metrics with the community through social media, inviting feedback and suggestions.
• Adjust the framework and selected metrics based on community input.
• Compile and publish the first monthly “State of Cardano” report using the finalized framework.

Acceptance Criteria:

• Documentation of community feedback and any adjustments made to the report framework.
• Successful publication of the first monthly report

Objective:

Consistently produce and release 12 monthly reports, providing the Cardano community and stakeholders with up-to-date, comprehensive insights.

Activities:

• Compile data and information each month based on the established framework and metrics.
• Engage the community periodically to review and refine the report content, ensuring it stays relevant.
• Publish each monthly report on Waffle Capital’s website, social media, and GitHub.

Acceptance Criteria:

• Publication of 12 monthly “State of Cardano” reports over the course of the year.
• Quarterly updates showing community engagement and feedback collected during the reporting process.
• Documentation of any adjustments or improvements made to the reports based on ongoing community input.

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

Monish Iyer is a Co-Founder and Chief Operating Officer of Waffle Capital. As the COO, Monish is responsible for the management of the Fund, as it relates to the day to day administrative and financial operations. He will be in charge of coordinating and overseeing the implementation of this proposal, ensuring that all milestones are met and that the project's outcomes are in line with the initial objectives.

Roshan Golani is a Decentralised Finance analyst at Waffle Capital. As a DeFi analyst, Roshan plays a pivotal role in identifying and evaluating emerging decentralised applications: understanding their mechanics and crafting insightful research reports. For this proposal, Roshan will conduct the research, write the reports, and collaborate with Monish and the community to refine and improve the reports, ensuring they align with the needs and interests of the Cardano ecosystem.

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

Milestone 1: Preparation and Organization 

Activities:

• 5,000 ADA - Confirm core team members and advisors.
• 10,000 ADA - Establish project management tools.
• 10,000 ADA - Project management tools and systems set up.
• Total Budget: 25,000 ADA

Milestone 2: Identifying Key Metrics and Information Sources 

Activities:

• 5,000 ADA - Engage directly with key community members and stakeholders to identify the most relevant metrics of interest.
• 5,000 ADA - Research and verify reliable sources for the identified metrics, such as TVL, treasury balance, governance updates, and other relevant data points.
• 5,000 ADA - Documentation of insights gathered from community members and stakeholders.
• 10,000 ADA - Preliminary framework for the monthly report prepared for review.
• Total Budget: 25,000 ADA

Milestone 3: Community Feedback on Chosen Metrics and Launch of Initial Report

Activities: 

• 5,000 ADA - Share the preliminary framework and metrics with the community through social media, inviting feedback and suggestions.
• 5,000 ADA - Documentation of community feedback and any adjustments made to the report framework.
• 5,000 ADA - Adjust the framework and selected metrics based on community input.
• 10,000 ADA - Compile and publish the first monthly “State of Cardano” report using the finalized framework.
• Total Budget: 25,000 ADA

Milestone 4:  Production of remaining 11 Monthly Reports

Activities:

• 25,000 ADA - Publication of 12 monthly “State of Cardano” reports over the course of the year.
• Total Budget: 25,000 ADA

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

This project provides significant value for the Cardano ecosystem by addressing the need for a consistent, high-quality information source that keeps the community and external stakeholders informed about the latest developments and key metrics. By delivering monthly "State of Cardano" reports, Waffle Capital will create an aggregated resource that helps users navigate the ecosystem and make informed decisions, which can lead to increased participation, investment, and growth.