Format Of Evaluated Project Process

Our solution make Crypto projects' review and create groups of basic/advance/expert questions, according to vcoincheck's a standard format.

Our team members joined and invested Crypto market in 2017. We have experience in research and study Cardano blockchain and other blockchain platforms.

According to our experience, we have made a lot of webinars to share our knowledge to community.

[IMPACT]

• Information sources about Crypto market are only focusing on one aspect of the market and current news in a short time. All the things aim to create FOMO, FUD to attract readers' curiosity and navigate their emotion.
• The market lacks systematic information sources, which are regularly researched, evaluated and updated in a long time. Each crypto update or project is subjective by content creators, so readers will lack an overview of how the market is going
• The crypto market is still new to majority of investors. Most of them lack knowledge about blockchain in general and Cardano blockchain in particular. Therefore, they can not distinguish projects which are good or not good.
• Crypto's information sources are not updated continuously. It is too difficult for investors to cover content information sequentially.
• Investors only receive subjective information from content creators, but they lack of interaction between investors and content creators.
• Each individual or teams have different evaluating process . Basically, evaluating criterias are the same, but due to the subjective by each person. Moreover, It will be difficult for investors when they refer to too many evaluating sources.

Here is our detailed solution

• Solution 1:
• Realize the above essential issues. We research and create 6 main criterias:
• Tokenomic criteria
• Coreteam - founder criteria
• Roadmap criteria
• Technical criteria
• Community criteria
• Vision, mission criteria
• Evaluated projects will be set base on these criteria. Group of questions include basic/advance will be written as multiple-choice. and expert questions will be created as essay.
• 1 evaluated project includes 4 subclasses as : Overview, Basic/advance/expert questions.
• Overview: The most of basic information comes from Crypto project (100% of investors can do it by themselves).
• Basic review: The 10-question Yes/No multiple-choice provides criteria to warn how safety of a project . Through these questions, users can basically identify the risk level of the project to make a decision to research more. This review can be easily completed by an investor with little Crypto's knowledge (Example: 5/10 answears are No choice, the project will be very risky to invest).
• Advance review: These questions are only for who has good knowledge and basic skills about Crypto market. These questions will include 20 multiple-choice questions with a rank of mark from 1 to 4 for each question. After completing these questions, the basic quality of a project will be shown by the score. These questions will also make a clear distinction in the score difference between an application layer and a platform or infrastructure layer. Total score of the advance questions are from 65-70 to 80 as a project is evaluated good.
• Expert review: These questions are for who has a deep knowledge about the project,blockchain in general and Cardano blockchain in particular. Initially, we will make a set 5 questions as essay with a rank of mark from 1->10. A user must have very good technical, market and general knowledge to be able to accomplish the expert review.
• Scoring structure: Score of Advance questions accounts 70% of the total score. Score of Expert questions accounts 30% of the total score. Final score will be taken an average of all assessments. The final score of the project is shown to the user.
• The quality review will be viewed and accepted by vcoincheck research team members.
• We commit to use information from various sources and select to write content objectively.
• Based on this set of standard criteria as basic/advance/expert questions aim to classify users and create two-way interaction between content creators and users. Through this set of questions, users/investors will distinguish good blockchain projects from scams.
• Each evaluated project will always be updated with relevant information so that a project can be known if a project runs effectively and has a long-term sustainable roadmap or operate inefficiently.
• We will build a community for who loves Cardano blockchain and want to participate in evaluating projects are built on this platform.

• Solution 2:

• Guarantee transparency and objectivity in evaluating projects, community's contribution will be encouraged to join our team. Completing from advanced and expert questions are required good skill reviewers who come from community to participate. Although our core team members have 10 people, we are completely able to complete a large number of assessments, but this the problem we mention above solution 1 which are subjectivity, one-way interaction between content creators and project reviewers.

• Solution 3:
• Problem statement:
• Stage 1(solution 1) is a set of expert questions as essay which is dedicated to experts, have knowledge and experience about blockchain in depth.
• Our purpose spread our solution to community who loves crypto assets. Stage 2 expert questions are converted into multiple choice questions. However, each type of project needs its own set of expert questions so this will take time and need human resources for accomplishment.
• Solution statement:
• We will recruite more experts to participate. We work together to develope multiple-choice expert questions for each type of project.
• The expert group will be recruited 5-10 people and selected from the group of experts who complete expert question as essay in stage 1(solution 1).
• This group of experts must pass a blockchain knowledge test that consists 50 questions and the total score must be higher > 180 points.

Our solution is the first step to create a decentralized quality evaluated project platform as we outlined in the proposal at fund 7. The improvement of the project quality evaluation criteria set. The project will help users easily, quickly to assess a project' quality. Our plan is going to evaluate 50% of total projects which are built on Cardano ecosystem. The plan will help Cardano to reach massive of users. Users, who love Cardano, will understand projects that are developing on the Cardano ecosystem. Users, who do not know Cardano, can easily research Cardano through our website. For example, a user is interested in a project that is not part of Cardano ecosystem but that project is evaluated on vcoincheck website. Furthermore, if they join vcoincheck.io, they will find information about Cardano.

• The solution creates a group of expert reviewers in order to help community to gain more confidence in professionalism, quality and objectivity of content wil be posted on the vcoincheck website. Our core-team also comes from Cardano lovers, and we seriously research and evaluate the quality of projects. We believe that this solution will be getting stronger in long term. Our solution is matched Cardano's mission and vision that are decentralized, transparency, objectivity.

• It is not easy to recruit experts who have good analytical skill and in-depth knowledge and experience about blockchain.
• Our purpose recruits at least 5 experts to work together in order to develope expert quetion as essay
• Each of experts has aspect of view about evaluating projects so our challenge is able to unify a standard format objectively and follow the standard. In order to work together and accomplish expert questions as essay for each of field of crypto projects. For example: projects are built on Cardano that has many field as: DEXs, Lending/borrowing, NFT,etc.
• Create expert questions as multiple choice, we wil start from Defi field firstly because it is centre of a blockchain ecosystem. Expert questions as multiple choice will takes us 3 to 6 months

[FEASIBILITY]

The 1st month:

• 30 project reviews of vcoincheck.io wil be uploaded. We focus on evaluating projects that are built on Cardano blockchain ecosystem. We will conduct a review a number of users who complete the basic/advance/ expert questions as essay.
• The 30 project reviews will come from Dapps field firstly
• Based on quantified data comes from a number of users who finish the expert questions as essay and the total score are achieved. We will filter the number of users and let them make a test about crypto knowledge by a set of 50 questions. Moreover, user who passes and has a score higher > 180 points that will join into project evaluation group from vcoincheck.io

The 2nd month:

• In 10-15 users (motivated reviewers), we will select 5-10 users (professional reviewers) to join into the group of experts vcoincheck.io (be shown from solution 3).
• These members will have 1 month to be trained how to work and the meaning / operation of the standard of project evaluation criteria from experts vcoincheck.io
• Encourage community to join the motivated reviewers group after that we keep selecting users to go into the expert reviewer group.
• Evaluate more 30 projects.

The 3rd month:

• Encourage community to join the motivated reviewers group after that we keep selecting users to go into the expert reviewer group.
• The group of experts will make expert questions as multiple-choice in Defi/Dex-liquidity field on Cardano ecosystem.
• vcoincheck.io's experts team will work, support, collaborate and cross-check the multiple-choice of expert questions for the Defi projects to ensure transparency and objectivity.

The 4th month - to be continued:

• The group of experts will make expert questions as multiple-choice in Lending/Borrowing, Wallet, Oracle,Launchpad,Payment,etc field on Cardano ecosystem.
• vcoincheck.io's experts team will work, support, collaborate and cross-check the multiple-choice of expert questions for the Defi projects to ensure transparency and objectivity.

Budget (3 months): Total cost = $13700

• Community Incentive reward : This cost is intended to encourage the community to participate and evaluate projects seriously and generate high-quality reviews. Furthermore,we will recruit new users who have good skills and love this job.Details:
• $125 per project x 60 projects = $7500
•  1st month : 3750 $
•  2nd month: 3750 $
• ($125 includes: $75 for users who finish evaluating project fast, and have the most valuable assessment. (this is priority criteria)
•                           $50 for the second and third user)

• (Note: a single ID user can only receive up to $150 in one time, and reward will be paid only after we have determined each valid ID is not fake and each person must to represent the ID that means he/she to complete an assessment.)

• Researching fee: $5000 (vcoincheck group gathers 5-10 members) for the vcoincheck expert reviewer group who research and make expert question as multiple-choice at 3rd month.
• Risk management:1200$ (ADA price fluctuation and in the case there are too many people participate and make really high quality evaluations. We want to add $20 into reward up for each specific project)

1.Mr. Vu Do - Team Leader:

• Analyze projects, create questions for website.
• Experience in research on blockchain ecosystems, especially on the Cardano blockchain ecosystem
• Telegram: https://t.me/VuDo2312
• Linkedln: https://www.linkedin.com/in/vu-do-4ba0a2109/

2. Mr. Jimmy Lê - Co Leader:

• Admin of 2 Vietnamese Cardano facebook Community (helping over 40k followers) https://www.facebook.com/groups/cardanoviet and https://www.facebook.com/groups/ada.holder
• Instructor of 2 “how to evaluate a crypto’s project" courses.
• An Entrepreneur with 3 year experience in the blockchain field.
• Has a deep knowledge in blockchain technology and blockchain projects.
• Manage a small company for 7 years.
• Telegram: https://t.me/Jimmy_Lee01
• Linkedin : linkedin.com/in/le-linh-813125117

3.vcoincheck.io core-team:

• vcoincheck' members are in depth knowledge and experience about Blockchain from 2017.
• Team members are expert reviewers in evaluation of Crypto projects.

[AUDITABILITY]

Tracking source: Our website, our report that be exported from website database as an evidence.

1st month

• Target : 30 project will be evaluated by community(these will be posted on vcoincheck.io)
• 90 evaluation and 200 views
• 10-15 motivated reviewer will be selected

2nd month

• Target : 5-10 expert reviewers will be selected (their second test will be provided)
• 30 project will be evaluated by community(these will be posted on vcoincheck.io)
• 90 evaluation and 200 views
• 10-15 motivated reviewer will be selected

3rd month

• Target: The multiple-choice of expert questions for Defi projects will be delivered and must be voted by our website community (100 accept voting at least)
• Attract 100 more users with over 200 views or interactions

• More than 60 projects on the Cardano ecosystem will be evaluated on our website.
• 180 evaluations, 100 new users and 400 views or interactions.
• 20-30 motivated reviewers, 5-10 expert reviewers will join to our reviewer group.
• The first decentralization multiple-choice of expert questions will be created and voted by community.

This proposal is a continuation of the vcoincheck.io project that was funded at Fund 7.