Continue SCATDAO Work in Education, Scam Monitoring, and DYOR Reports

[GENERAL] Name and surname of main applicant

Eric Helms

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

Entity (Incorporated)

[GENERAL] Requested funds in ada

149333

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

We would like to continue the work we have been doing for over 2 years in fraud/scam monitoring, general crypto education, and assisting and encouraging DYOR through our DYORTool.

[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

Everything that we have ever built or written is fully open source and available freely to all. The software is Free and open-source software (FOSS), meaning nobody needs permission to copy it and use it in whatever manner they see fit.

[SOLUTION] Please describe your proposed solution.

We are Smart Contract Audit Token SCATDAO. For over two years we have been working with the Cardano ecosystem to educate, inform, watch our for bad actors, build open source tools, and encourage people to DYOR. Our most popular product, the DYOR Tool (https://dyortool.io/) gets over 6,000 unique visits per month and it has been used to create DYOR Reports for over 100 Cardano Dapps and NFT projects. We have written over 40 articles and made over 40 videos to educate and inform the Cardano Community. We have also built an open source Audit and Social Media platform for people to share information and learn more about the Cardano ecosystem (https://auditocean.com/).

We have been doing all this with a dedicated team and a shoestring budget for 2 years. We would like to continue doing this work, and are requesting the funding to support our team and maintain our tools. Below we have outlines the main deliverables that we will be providing with this funding.

DYOR Reports

This is the report that is generated when using our research tool (https://dyortool.io/) . It covers 29 different research points within the categories of Development Team, Tokenomics, Community, and Trading Metrics. We currently have reports for 100+ Cardano tokens, dApps, and NFTs, but we would like our library to be comprehensive with total coverage. 

So a few of our team members will be dedicating time each month to prepare high quality DYOR Reports for projects that we do not currently have in our library. The goal is to have these cover most of the information that the average user would want to know about a project and be a go-to resource for anyone performing research. In addition, team members will also be creating DYOR Reports for all new projects releasing or having a token sale on Cardano to ensure we have the resources available when they are needed most. 

DYOR Contests

It is good for our team to prepare high quality reports, but whats even better is when the community is empowered to research things themselves. This is why we have been sponsoring DYOR contests for over a year and a half. This is to encourage people to learn how to use our DYOR Tool, understand how to go about researching a token, dApp, or NFT, and how to review other peoles research and determine what is accurate and what is not. You can see in the budget that part of the funding will be to administer these contests. 

On Chain Analysis Guide 

The biggest strength of blockchain is that it’s a public ledger that anyone can use to trace transactions. It is the definition of transparency. Unfortunately, there are many people out there who do not understand how this works or how to do it themselves on Cardano. We would like to change that by putting out a guide on how to perform on chain analysis on Cardano. It will teach you how to utilize the current tools that we have available such as Xerberus and Tap Tools, how to read Cardanoscan, etc. We believe that something like this would be a big asset to the Cardano community. 

Kutztown University Outreach

To ensure success with crypto, we need to be reaching out to the next generation and teaching about how it can be used to solve real world problems instead of just being a tool for speculation. That is exactly what Jed has been doing this year while working with the Blockchain and Digital Assets Club at the University. Part of the funding we are requesting is to allow us to continue doing this work and looking into potentially expanding it. Can read more about it here (https://medium.com/@scatdao/empowering-the-future-of-blockchain-scat-daos-educational-initiative-at-kutztown-university-37a1179e4d95)

Educational Videos

These can cover a lot of different topics. Sometimes its breaking down someone’s research report. Sometimes its interviewing a new project. Basically as long as its educational, informative, and interesting, it qualifies as something we would like to produce. So part of the funding would go to continuing our work to put this content out. 

Educational Articles

Same idea as above in the videos portion. If its informative and educational, we like to write about it. Can teach about concepts in education or finance that are relevant to crypto, research different teams or products, or anything else that we feel might be relevant to the Cardano community. 

General Scam Monitoring

This is the part that is hardest to quantify. We have a team of hard working people who spend countless hours on Cardano, searching information, scanning through discords and Twitter, amd responding to DMs, for anything that seems like it might be a concern or suspicious. Over the years we have put out a lot of warnings about potential bad actors or suspicious looking projects, and over the years many of those have exited without delivering what they had promised. We do this because we care about this ecosystem and want it to be as safe and transparent as possible. And we would like to continue doing it going forward. 

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

How does the success of our project bring value to the Cardano Community?

The main things that our organization works on is education (including how to DYOR), creating tools to aide in performing your own research, and monitoring for bad actors or scams. The value in having a community that is educated, can properly research products they wish to use or buy, and that actively seeks out bad actors is hopefully apparent here.

With our DYOR Report library, this provides the Cardano community with a comprehensive and well researched listing of reports. Anyone that wants to learn about a new project can spend a few minutes reading through a report and immediately understand the key information about it. And if they want to dive in deeper themselves, we provide them with the tools to do so. Saving time and energy.

For the on chain analysis guide we are working to put out, this will teach the average person how to do their own on chain analysis. If someone makes claims about buying or selling, they dont have to listen to the gossip, they can check themselves. It will empower everyone to verify what is happening on chain instead of being forced to trust. The remaining educational content we put out helps teach the community about different concepts they might not be familiar with but can help them understand crypto and the markets better.

How will we measure this impact?

The tools we build have been getting actual usage and provide actual benefit to the Cardano ecosystem. Our DYOR Tool gets approximately 6,000 unique visitors each month. These people can learn how to perform research as well as view our large catalogue of DYOR reports to learn about the different dapps, tokens, and NFTs within Cardano. With the relatively small size of our ecosystem, we feel that 6K unique visitors each month is a huge win and we believe we can continue growing and improving. We intend to use this as one of our ways to measure impact as it is quantitative and easy to track over the months.

Number of DYOR Reports Created

Our goal is to have team created 5 DYOR Reports per month, which would be a total of 30 reports in the 6 month period. We plan to cover projects that currently do not exist in our library as well as ensure that we have a comprehensive report prepared for each not launch in the Cardano ecosystem.

Number of DYOR Contests Held

Our goal is to have 1 contest per month. We would like to have a minimum of 5 entries per contest, meaning we would have an additional 30 DYOR Reports that were created by community members. And to increase the impact here, we will strive to have half of these submissions from people who have never participated in our research contests before.

 

Number of Medium Articles Written

Our goal will be to write at least 2 articles per month. This would equal 12 total for the proposal.

 

Number of Youtube Videos created

Our goal will be to create at least 1 video pr month. This would equal 6 total for the proposal.

How do we plan to share the outputs and opportunities that result from our project?

Our organization has been around for almost 2 full years now. In that time we have built a solid organic following in our main social media channels. We currently have 5,200+ followers on Twitter (@SCATDAO), 500+ members in our Discord (https://discord.gg/SbfHZBPpVA), 94 followers on YouTube with 37 different videos (@smartcontractaudittoken434), and 182 followers on Medium with 45 different articles published and several with thousands of views (@SCATDAO). And again, these are real organic numbers. We never purchase followers or engagement as we feel that is cheating and provides no real benefit since instead of supporters you have bots. 

Since we have spent the time and effort to build this passionate and organic following, we now have several excellent vehicles to share the outputs and results of our project. We plan to make regular updates through the channels mentioned above to keep the entire community updated and aware of what we are doing, our progress, and our end results. 

We also have our platform Audit Ocean https://auditocean.com/ that we have built. One of the main features of Audit Ocean is it is a type of social media where the Cardano community can share information, perform research, and learn about different Cardano projects. We plan to utilize the platform while we are making our improvements to keep the community informed of what is going on as well as to drive traffic and interest towards the platform. 

Finally, we have a long history of joining Twitter spaces to discuss our project, recent developments, and answer and questions people might have. We plan to continue doing this to reach new audiences that might not be familiar with us and share our outputs and results. 

[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?

We believe the best way to predict the future is by looking at the past. Projects and teams that have consistently delivered the things they have promised are likely to continue doing so while teams that have collected hundreds of thousands of dollars while delivering nothing will likely continue to do so as well. So I would start answering this question by looking at our track record in previous Catalyst rounds. 

Our team has been funded for 3 separate proposals in three different rounds (5, 6, and 8). And I am proud to say that we have closed out each one of those proposals. The close out videos are copied below to evidence this. 

NOTE: If you look us up using the LIDO Nation tool, you will see a few other projects that we are associated with. These are things like the Audit Circle or of Token Vesting Dapp. This is something that one of our team members helped out with and so is included on the proposal but that we do not collect funds from.

F8 Close out video:

https://youtu.be/8nZIGvcoqpg

F5 Close out Video:

https://youtu.be/aG22acr_8HY

F6 Close out Video:

https://youtu.be/EfS-eBq6zyg

We have also posted our projects financials at the end to share our receipts and a breakdown of how the money was actually spent vs how it was budgeted. We feel this is very important and plan to continue doing it with this proposal. Below is the link to view our past proposals.

https://catalystaudit.com/smart-contract-audit-token-f5-expenses/

How do we intend to validate if our approach is feasible?

As mentioned, we have been doing this for over 2 years now. We have already written 40+ articles, made 30+ videos, built 2 versions of our DYOR Tool, and delivered our platform Audit Ocean. We have over 100 projects covered with our DYOR Tool and hold regular contests to encourage people to research Cardano projects. All of these things we have been successfully doing for over 2 years validate that our approach is feasible and is a good investment for the Cardano community.

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

Month 1: Deliver 5 DYOR Reports, 1 Video, 2 Articles, 1 DYOR Contest

As this proposal is primarily to found our operations in Education, Scam Monitoring, and DYOR Reports, the Milestones are primarily related to the content and materials we put out. This first milestone will be for the delivery of specific content we promised to create. 

Milestone Outputs: 

A: 5 DYOR Reports (Team Prepared)

B: 1 Video

C: 2 Articles 

D: 1 DYOR Contest

Acceptance Criteria: 

A: For the DYOR Reports, they must follow the same criteria listed in our bounty guidelines. They are summarized below:

i. Length -1600 word minimum. To determine word length, the final report can be copied and pasted into a word document. This gives us a pretty easy, straightforward, and repeatable method to measure length. A blank dapp report is about 754 words and a blank NFT report is 671 if no additional information is added. 500 words is about 1 page of writing, single spaced, for reference. So 1600 words is roughly 2 pages of writing which is a reasonable minimum amount to fully respond to the various research points in the tool.

ii. New Report — Report must not already be in our Library. If it is in our library, most recent must be 6 months old or more.

iii. Content Quality — Not simply just copying and pasting website information into the report. Finding and displaying accurate information from the project’s website or whitepaper is important. But just copying and pasting that information does not lead to a high quality report. The author should provide information they gathered from discord, talking to other sources, minting experience, twitter spaces, interviews, YouTube videos, specific insights about founders’ LinkedIn profiles, etc. This information is not only helpful because they are not easily accessible or time consuming to gather, and also educational and entertaining to read. Authors should provide their own insights into the information they gathered to help put the information into context or help the report reader understand its significance. This does not mean that you cannot copy and paste any information. There is a lot of good properly cited information that can be transcribed into the report from the website or whitepaper and that is not inherently bad.

B: Video must be on Cardano or crypto related subject matter with a general purpose to educate or inform. 

C: Articles must be on Cardano, crypto related subject matter, or finance and economic concepts that can be relevant to crypto, with a general purpose to educate or inform.

D: There will be 1 DYOR Contest per month which will have the following criteria:

i. Each DYOR Contest will have 1K ADA in prizes. 1st place is 500 ADA, second place is 300 ADA, 3rd place is 200 ADA. 

ii. There will be 1 week for submissions, 2 weeks to discuss and vote, then a 1 week break.

iii. All prizes must be distributed each month. 

iv. Voting will be on-chain on the Summon app using AUDIT. 

Evidence of Completion: 

A: URL to the DYOR Reports that are hosted on our website will be sent to the reviewers as evidence.

B: URL to the video that is hosted on our YouTube account will be sent to the reviewers as evidence.

C: URL to the articles that are hosted on Medium will be send to the reviewers as evidence. 

D: DYOR Contests will be announced on our Discord and Twitter accounts. A link to the announcement in Twitter and a screen shot of the discord announcement will be provided. A brief summary of the contest including which projects were submitted and which one will be written after the contest and shared on our Twitter or Medium, and a link to that will be provided as well. The URL to the DYOR Reports that were entered into the contest will also be provided.

Month 3: Deliver 10 DYOR Reports, 2 Videos, 4 Articles, 2 DYOR Contests, Initial Draft of On Chain Analysis Guide

The third milestone is double outputs as the first milestone, as this covers a two month period instead of a single month, as well as the first draft of the On Chain Analysis Guide we will be putting together.

Milestone Outputs: 

A: 10 DYOR Reports (Team Prepared)

B: 2 Videos

C: 4 Articles 

D: 2 DYOR Contests

E: First draft of on chain analysis guide

Acceptance Criteria: 

A: For the DYOR Reports, they must follow the same criteria listed in our bounty guidelines. They are summarized below:

i. Length -1600 word minimum. To determine word length, the final report can be copied and pasted into a word document. This gives us a pretty easy, straightforward, and repeatable method to measure length. A blank dapp report is about 754 words and a blank NFT report is 671 if no additional information is added. 500 words is about 1 page of writing, single spaced, for reference. So 1600 words is roughly 2 pages of writing which is a reasonable minimum amount to fully respond to the various research points in the tool.

ii. New Report — Report must not already be in our Library. If it is in our library, most recent must be 6 months old or more.

iii. Content Quality — Not simply just copying and pasting website information into the report. Finding and displaying accurate information from the project’s website or whitepaper is important. But just copying and pasting that information does not lead to a high quality report. The author should provide information they gathered from discord, talking to other sources, minting experience, twitter spaces, interviews, YouTube videos, specific insights about founders’ LinkedIn profiles, etc. This information is not only helpful because they are not easily accessible or time consuming to gather, and also educational and entertaining to read. Authors should provide their own insights into the information they gathered to help put the information into context or help the report reader understand its significance. This does not mean that you cannot copy and paste any information. There is a lot of good properly cited information that can be transcribed into the report from the website or whitepaper and that is not inherently bad.

B: Video must be on Cardano or crypto related subject matter with a general purpose to educate or inform. 

C: Articles must be on Cardano, crypto related subject matter, or finance and economic concepts that can be relevant to crypto, with a general purpose to educate or inform.

D: There will be 1 DYOR Contest per month which will have the following criteria:

i. Each DYOR Contest will have 1K ADA in prizes. 1st place is 500 ADA, second place is 300 ADA, 3rd place is 200 ADA. 

ii. There will be 1 week for submissions, 2 weeks to discuss and vote, then a 1 week break.

iii. All prizes must be distributed each month. 

iv. Voting will be on-chain on the Summon app using AUDIT. 

E: We have not put something like this together before, so difficult to define it in terms of length or anything specific. The guide should contain the information needed for a person with no background in performing on chain analysis to be able to trace transactions and utlize the common tools and resources in Cardano.

Evidence of Completion: 

A: URL to the DYOR Reports that are hosted on our website will be sent to the reviewers as evidence.

B: URL to the videos that are hosted on our YouTube account will be sent to the reviewers as evidence.

C: URL to the articles that are hosted on Medium will be send to the reviewers as evidence. 

D: DYOR Contests will be announced on our Discord and Twitter accounts. A link to the announcement in Twitter and a screen shot of the discord announcement will be provided. A brief summary of the contest including which projects were submitted and which one will be written after the contest and shared on our Twitter or Medium, and a link to that will be provided as well. The URL to the DYOR Reports that were entered into the contest will also be provided.

E: Link to the draft hosted on google docs will be provided.

Month 5: Deliver 10 DYOR Reports, 2 Videos, 4 Articles, 2 DYOR Contests, Attend Kutztown Univerisity PACISE 2024 Conference

The forth milestone is double outputs as the first milestone, as this covers a two month period instead of a single month. It also includes the addition of attending a Kutztown University Conference that we are sponsoring.

Milestone Outputs: 

A: 10 DYOR Reports (Team Prepared)

B: 2 Videos

C: 4 Articles 

D: 2 DYOR Contests

E: Attend Kutztown Univeristy PACISE 2024 Conference which we have already committed to sponsoring. The conference, themed “Interdisciplinary Computing,” aims to provide a platform for faculty and students from PA State System Universities to present research, exchange techniques, and collaborate with peers. (Additional details here: https://medium.com/@scatdao/empowering-the-future-of-blockchain-scat-daos-educational-initiative-at-kutztown-university-37a1179e4d95)

Acceptance Criteria: 

A: For the DYOR Reports, they must follow the same criteria listed in our bounty guidelines. They are summarized below:

i. Length -1600 word minimum. To determine word length, the final report can be copied and pasted into a word document. This gives us a pretty easy, straightforward, and repeatable method to measure length. A blank dapp report is about 754 words and a blank NFT report is 671 if no additional information is added. 500 words is about 1 page of writing, single spaced, for reference. So 1600 words is roughly 2 pages of writing which is a reasonable minimum amount to fully respond to the various research points in the tool.

ii. New Report — Report must not already be in our Library. If it is in our library, most recent must be 6 months old or more.

iii. Content Quality — Not simply just copying and pasting website information into the report. Finding and displaying accurate information from the project’s website or whitepaper is important. But just copying and pasting that information does not lead to a high quality report. The author should provide information they gathered from discord, talking to other sources, minting experience, twitter spaces, interviews, YouTube videos, specific insights about founders’ LinkedIn profiles, etc. This information is not only helpful because they are not easily accessible or time consuming to gather, and also educational and entertaining to read. Authors should provide their own insights into the information they gathered to help put the information into context or help the report reader understand its significance. This does not mean that you cannot copy and paste any information. There is a lot of good properly cited information that can be transcribed into the report from the website or whitepaper and that is not inherently bad.

B: Videos must be on Cardano or crypto related subject matter with a general purpose to educate or inform. 

C: Articles must be on Cardano, crypto related subject matter, or finance and economic concepts that can be relevant to crypto, with a general purpose to educate or inform.

D: There will be 1 DYOR Contest per month which will have the following criteria:

i. Each DYOR Contest will have 1K ADA in prizes. 1st place is 500 ADA, second place is 300 ADA, 3rd place is 200 ADA. 

ii. There will be 1 week for submissions, 2 weeks to discuss and vote, then a 1 week break.

iii. All prizes must be distributed each month. 

iv. Voting will be on-chain on the Summon app using AUDIT. 

E: At least 1 representative from the team must be present at the event. (Note: we have sponsored this event and are committed to attend. If for some reason the event is cancelled that is out of our control and would be dropped from the milestone consideration.

Evidence of Completion: 

A: URL to the DYOR Reports that are hosted on our website will be sent to the reviewers as evidence.

B: URL to the videos that are hosted on our YouTube account will be sent to the reviewers as evidence.

C: URL to the articles that are hosted on Medium will be send to the reviewers as evidence. 

D: DYOR Contests will be announced on our Discord and Twitter accounts. A link to the announcement in Twitter and a screen shot of the discord announcement will be provided. A brief summary of the contest including which projects were submitted and which one will be written after the contest and shared on our Twitter or Medium, and a link to that will be provided as well. The URL to the DYOR Reports that were entered into the contest will also be provided.

Month 6: Deliver 5 DYOR Reports, 1 Videos, 2 Articles, 1 DYOR Contest, Final Draft of On Chain Analysis Guide, Final project completion report and video

The final milestone will be to deliver the regular monthly content we have been doing each month and DYOR Contest, deliver the finalized on chain analysis guide, and submit the final project completion report and video which officially closes out the proposal.

Milestone Outputs: 

A: 5 DYOR Reports (Team Prepared)

B: 1 Video

C: 2 Articles 

D: 1 DYOR Contest

E: Final draft of on chain analysis guide 

F: A final project completion report and video which meets all the Catalyst requirements for time, length, and content.  

Acceptance Criteria: 

A: For the DYOR Reports, they must follow the same criteria listed in our bounty guidelines. They are summarized below:

i. Length -1600 word minimum. To determine word length, the final report can be copied and pasted into a word document. This gives us a pretty easy, straightforward, and repeatable method to measure length. A blank dapp report is about 754 words and a blank NFT report is 671 if no additional information is added. 500 words is about 1 page of writing, single spaced, for reference. So 1600 words is roughly 2 pages of writing which is a reasonable minimum amount to fully respond to the various research points in the tool.

ii. New Report — Report must not already be in our Library. If it is in our library, most recent must be 6 months old or more.

iii. Content Quality — Not simply just copying and pasting website information into the report. Finding and displaying accurate information from the project’s website or whitepaper is important. But just copying and pasting that information does not lead to a high quality report. The author should provide information they gathered from discord, talking to other sources, minting experience, twitter spaces, interviews, YouTube videos, specific insights about founders’ LinkedIn profiles, etc. This information is not only helpful because they are not easily accessible or time consuming to gather, and also educational and entertaining to read. Authors should provide their own insights into the information they gathered to help put the information into context or help the report reader understand its significance. This does not mean that you cannot copy and paste any information. There is a lot of good properly cited information that can be transcribed into the report from the website or whitepaper and that is not inherently bad.

B: Video must be on Cardano or crypto related subject matter with a general purpose to educate or inform. 

C: Articles must be on Cardano, crypto related subject matter, or finance and economic concepts that can be relevant to crypto, with a general purpose to educate or inform.

D: There will be 1 DYOR Contest per month which will have the following criteria:

i. Each DYOR Contest will have 1K ADA in prizes. 1st place is 500 ADA, second place is 300 ADA, 3rd place is 200 ADA. 

ii. There will be 1 week for submissions, 2 weeks to discuss and vote, then a 1 week break.

iii. All prizes must be distributed each month. 

iv. Voting will be on-chain on the Summon app using AUDIT. 

E: We have not put something like this together before, so difficult to define it in terms of length or anything specific. The guide should contain the information needed for a person with no background in performing on chain analysis to be able to trace transactions and utilize the common tools and resources in Cardano.

F: The project completion report and video must meet all Catalyst requirements for time, length, and content. 

Evidence of Completion: 

A: URL to the DYOR Reports that are hosted on our website will be sent to the reviewers as evidence.

B: URL to the video that is hosted on our YouTube account will be sent to the reviewers as evidence.

C: URL to the articles that are hosted on Medium will be send to the reviewers as evidence. 

D: DYOR Contests will be announced on our Discord and Twitter accounts. A link to the announcement in Twitter and a screen shot of the discord announcement will be provided. A brief summary of the contest including which projects were submitted and which one will be written after the contest and shared on our Twitter or Medium, and a link to that will be provided as well. The URL to the DYOR Reports that were entered into the contest will also be provided.

E: Link to the draft hosted on google docs will be provided.

F: A link to the closeout report which is hosted on google docs will be provided along with the URL to the video which will be hosted on YouTube. 

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

Eric Helms - Eric is a Certified Public Accountant who has spent the last 10 years working in Corporate Audit from both the public and private side. He is passionate about blockchain and its ability to make society and business fairer and more transparent for everyone. He is currently a Veteran Community Advisor for Project Catalyst and is proud to be a member of the Cardano ecosystem. (https://www.linkedin.com/in/eric-helms-cpa-97866a3b/). Eric wrote all of the content for the first version of the DYOR Tool. Eric has written a large majority of our articles on Medium (https://medium.com/@scatdao) and is a member of the core team. He will continue working on creating content for the DAO to share through our social media channels. Eric will also be working on general management of the DAO, performing our monthly accounting and reporting, and will also be responsible for managing the monthly Catalyst reporting.

Jimmy - Jimmy is a Certified Public Accountant who has 10+ years of experience in corporate finance and accounting, 3 of which were spent auditing public and private companies. He also built and operated a small business for the past 8 years. He is looking to leverage his experiences to help build a strong and effective DAO for the Smart Contract Audit Token project. (https://www.linkedin.com/in/jimmy-huang-83a3689/). Jimmy is the head of community and helps keep the DAO running. He helps answer questions and help newcomers in our Discord and on Audit Ocean and is responsible for distributing and AUDIT tokens that are earned throughout the month and administering any governance votes that we carry out. He will be administering our DYOR Contests and creating a lot of new DYOR Reports as well.

Jed - Jed is a certified Enterprise Architect with 15 years of experience as an Interface Engineer and serves as a member of the Industry Advisory Board at Kutztown University, representing healthcare.  He looks to serve the Cardano Community by helping people understand how to do their own research and raising awareness of project risk types.  Jed’s passion for the Cardano Community’s safety is his motivating drive to help put the power in the hands of the community to protect itself through Smart Contract Audit Token. (https://www.linkedin.com/in/jed-horning-8b577173/). Jed is spearheading our advertisement and promotion of the platform. He creates new and original content that demonstrates the research our community performs, shares the platforms features and functionality, and creates general awareness. You can review the videos Jed has already created here (https://www.youtube.com/@smartcontractaudittoken434/videos)

Dubble-u - dubble-u43 is a passionate Cardano community member who is active is several projects and is particularly talented with on-chain analysis. He will be leading the on chain analysis guide.

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

Item 1: DYOR Reports

 

We have committed to creating a minimum of 5 DYOR Reports per month, including having coverage for all new projects or token releases on Cardano I really well researched and solid report can take around 10 hours to produce. This would equal about 50 hours per month and at a rate of 20 dollars per hour this would be 1000 dollars per month, 6,000 total for 6 months.

 

Budget: $1,000 per month, $6,000 total, 20,000 ADA 

 

Item 2: DYOR Contests

 

We will be running 1 contest per month. To administer the contests we must advertise them, create materials for them, answer any questions people might have, review all the entries to ensure they followed the rules, share the wining reports along with threads or write ups on them, and distribute the prizes. Overall we have budgeted about 20 hours per month to run these contests, which would be 400 dollars per Month, 2,400 for 6 months

 

Budget: $400 per Month, $2,400 total, 8,000 ADA 

 

Item 3: Maintain and Update Our Tools

 

Our programmer recently left. We have our DYOR Tool that needs to be updated and maintained as well as Audit Ocean, our social media and audit hub. To do this we need to hire a new programmer who can make any updates we may need, administer our Community Audit Program (https://medium.com/@scatdao/fundamental-analysis-reports-1a3b27b94c3), and unsure the tools we have built stay functioning properly. So we have included this as a budget item in our proposal.

 

Budget: $10,000 USD 33,333 ADA

 

Item 4: On Chain Analysis Guide

 

We will be creating a guide on how to perform on chain analysis on Cardano. It will teach you how to utilize the current tools that we have available such as Xerberus and Tap Tools, how to read Cardanoscan, etc. We believe that something like this would be a big asset to the Cardano community. It has the following time budgeted for it.

 

40hrs

• Gather Information, images, references etc.
• Create a logical order.

 80hrs

• Write the initial draft

40hrs

• Send the draft out for review.
• Edits and updates based on the review feedback.
• Publication of the final version.

 

Budget: $3,000 total, 10,000 ADA

 

Item 5: Kutztown University Outreach

 

We will be continuing our outreach with the university, exploring new ways to network and participate in activities they have going on, and attend the in person event which we are sponsoring. In general we have budgeted about 20 hours per month for this.

 

Budget: $400 per month, $2,400 total, 8,000 ADA  

 

Item 6: Educational Videos

 

We will be producing 1 of these per month. On average it can take around 10 hours to research, record, and edit a video. So this would be 200 dollars per month.

 

Budget: $200 per month, $1,200 total, 4,000 ADA 

 

Item 7: Educational Articles

 

We will be producing 2 of these per month. On average it can take around 10 hours to research, record, and edit a video. So this would be $400 dollars per month.

 

Budget: $400 per month, $2,400 total, 8,000 ADA 

 

Item 8: Project Management

 

This would include processing monthly expenses for costs that we

incur (servers, domain fees, etc) as well as doing the monthly bookkeeping for

these. It would also include the time spent attending Catalyst meetings, preparing

our monthly Catalyst reporting, preparing close out reports and videos, and

everything else related to that. As well as monitoring this project, the people

participating in it, and ensuring everything stays on schedule and on

budget. 

 

Budget: $1000 per month $6,000 total, 20,000 ADA 

  

Item 9: General Scam/Ecosystem Monitoring

 

The team spends a great deal of time looking through Discords, Twitter, Medium, Telegram, Reddit, or any other common Cardano crypto channels to keep a look out for anything suspicious or questionable that we should investigate further or alert the community as well as anything positive or interesting that we should share. We have 70 hours budgeted for this per month, which would be 1400 dollars per month

 

Budget: $1,400 per month, $8,400 total, 28,000 ADA 

 

Item 10: Server Cost

 

The cost to run our servers for our DYOR Tools, Audit Ocean, and our website is about 200 dollars per month. So we have budgeted this cost to continue running them for 6 months.

 

Budget: $200 per month, $1,200 total, 4,000 ADA

 

Item 11: DYOR Contest Prizes

 

We will be running 1 DYOR contest per month with a total prize pool of 1,000 ADA per contest. 500 ADA for 1st place, 300 ADA for 2nd place, 200 ADA for 3rd place.

 

Budget: $1,800 dollars total, 1,000 ADA per month, 6,000 ADA total.

 

Total Dollars = $44,800

Total ADA = 149,333

ADA Cost Used = .30

 

Note: We have used a price per ADA of .30 in our budget. The current cost of ADA at the time of writing is .37. We have gone with a price of ADA of .30 as we are currently in a market rally that has drastically risen the price of ADA. We performed an analysis using the prize data from Yahoo to see what the average price of ADA has been in the last 6 months. This gives us an average price of .2947. While we hope that the rally continues, there is no guarantee this will happen and it is entirely possible that we return to the mid .20 levels we have seen most of this year. We have budgeted very carefully and would have financial hardship if prices dropped back significantly. Therefore, we have taken a conservative approach in estimating the ADA conversion rate.  

 

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

Our team has been working countless hours to make Cardano a safer place since 2021 on a very minimal budget. During that time many of our team members have received no compensation at all. We hope that we have proven our value to the Cardano community over these years and they can see fit to fund us to continue doing this work.

Overall we are requesting a budget of less than $45,000 to cover 4 team members who all live in high cost of living countries. The time has been billed out at $20 per hour which is about 5 dollars above the minimum wage in most of these areas. For work that is being done by people with degrees, professional credentials, and decades of combined experience, we feel that the community is getting a good value for the money we are granted.

[IMPORTANT NOTE] The Applicant agrees to Fund 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