Native Token Incentivize Onboarding
Problem
No incentive for people to act as influencers and promoters for Catalyst. Unless they have a proposal they aren't motivated to evangelize.
Solution
Create a native token to incentivize evangelists and influencers of Catalyst comprehensive onboarding process for kids to senior citizens
Total to date
This is the total amount allocated to Native Token Incentivize Onboarding.
About this idea
[IMPACT] Please describe your proposed solution.
We will reach out to diverse groups such as primary school age students, teenage school age students, high school students, university age students, Young adults, Singles, Couples, Young working professionals, Retail Industry workers, Young marrieds , Couples with infant and toddler kids, Couples with teenage kids, Senior Citizens who are singles, Senior citizen couples, Empty Nesters,
Each of these groups will have a different way of looking at the world, different visions, dreams, goals and objectives for life, Values and priorities, Fears, Worries and Concerns, and how to increase their financial security , how to increase their quality of life.
We will identify how to reach each of these specific groups and in which social media channels to reach them. We will create target messages to each of these groups.
[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.
We will reach out to distinct market segments and audiences using highly targeted marketing campaigns.
Once early adopters are identified, they will be recruited as promoters and influencers to the target segments. They will be incentivised through native tokens that they would obtain for their work.
The influencers will identify prospects and go through an onboarding process for them. Every prospect means more incentives for the influencers. Then the prospect once onboarded also becomes a chance to be an influencer and earn native tokens for bringing more people on board. They also become referrers for all the projects and proposals submitted by their referees. As such they can earn a good return if their referee's project gets funding.
Through native tokens each influencer is incentivized to onboard new prospects, and they in turn will bring in more new prospects.
Each of the above segments of the market will thus be covered progressively. and all will be highly motivated to bring in new people.
We will work with Catalyst school to identify on what basis to incentivize newly onboarded Catalyst members. Some methods could be
When they write their first proposal and for each proposal thereafter
When they do presentations at TH or ATH breakout rooms
hen they teach others about Catalyst and can show recordings of this teaching via any platform such as Zoom or Google meet and that person comes onboard Catalyst as a result.
When the new onboarded person whom they taught does their first proposal.
When that person teaches a new prospect about Catalyst. And the cycle goes on
How this proposal meets Fund 9 Objectives
Prepare a group of people willing and able to make contributions to the ecosystem.
This proposal will enable many people who have become onboarded, to be motivated to learn by incentivizing them by native tokens
Turn Cardano into an open source project & attract more developers..
Making this open source would help new onboarded individuals to become new developers, new teachers, new content creators, new tokenomics experts, new NFT creators etc.
Build real-world solutions based on the Cardano blockchain.
This project to use native tokens from start to finish of the onboarding cycle. This becomes a real world solution that can be used for onboard people to Catalyst, to governance, to any particular group.
Improve tooling to support human processes in Catalyst. Accelerate the growth and evolution of developer & app ecosystem.
By using native tokens people are motivated and incentivized to learn effectively. From kids, to teens to adults, this system can be used in any educational, or corporate setting, or even NGOs or government institutionst to get people to work more effectively. They get rewarded for their work which is broken down into many small aspects, and each aspect gets rewarded
[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Answer
We may spend not enough time and resources or too much time or resources on particular audiences
We may not choose the proper channels which are being used by the target audiences
We may not properly present the message of Catalyst via these channels and graphics, videos, articles etc.
The number of prospects will be less than our estimates.
Challenges and risks relevant to a successful implementation would include another Covid variant causing lockdowns and where Influencers and teachers cannot work for some reason due to illness.
How does the proposer plan to deal with these difficulties?
How we would deal with this challenge is that we would have many alternative influencers who can pick up the load of work if someone is unable to do so due to illness.
Our translatos are capable of finding or if need be creating suitable terminology for use in the language for these new terms and concepts.
Volatility of ADA may result in our being unable to meet our budgetary expenses due to rapid fall in value of ADA. The value of ADA may go down.
It takes a long time to convert ADA into local currency as its completely dependent on Binance's P2P marketplace. This can cause slowdowns or delays in getting LKR and thereby in the project implementation.
When currency is finally converted, prices of goods and services may be different from what we budgeted because prices have increased.
How does the proposer plan to deal with these difficulties?
One way to overcome this contingency of currency volatility is to add a contingency fund of about 10% on top of the total cost. Another option is to find a trusted network of ADA holders who want to increased their investment in ADA without going through Binance P2P marketplace.
[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.
Monnth 1
Initiate Reach out to diverse groups such as primary school age students, teenage school age students, high school students, university age students, Young adults, Singles, Couples, Young working professionals, Retail Industry workers, Young marrieds , Couples with infant and toddler kids, Couples with teenage kids, Senior Citizens who are singles, Senior citizen couples, Empty Nesters
Plan out social media Campaigns for each of these audiences
Discuss with social media team as to how to reach these audiences. Discuss with Catalyst school and marketing professionals in Catalyst community, the way to present the relevant information to these respective groups.
We will identify how to reach each of these specific groups and in which social media channels to reach them. We will create target messages to each of these groups.
We will reach out to distinct market segments and audiences using highly targeted marketing campaigns.
Creation of Native Token or any other incentivization plan commences
Month 2
Once early adopters are identified, they will be recruited as promoters and influencers to the target segments. They will be incentivized through native tokens that they would obtain for their work.
The influencers will identify prospects and go through an onboarding process for them. Every prospect means more incentives for the influencers. Then the prospect once onboarded also becomes a chance to be an influencer and earn native tokens for bringing more people on board. They also become referrers for all the projects and proposals submitted by their referees. As such they can earn a good return if their referee's project gets funding.
Creation of native token is completed end of month 2
Through native tokens each influencer is incentivized to onboard new prospects, and they in turn will bring in more new prospects.
Each of the above segments of the market will thus be covered progressively. and all will be highly motivated to bring in new people.
Month 3
We will work with Catalyst school to identify on what basis to incentivize newly onboarded Catalyst members. Some methods could be
When they write their first proposal and for each proposal thereafter
When they do presentations at TH or ATH breakout rooms
hen they teach others about Catalyst and can show recordings of this teaching via any platform such as Zoom or Google meet and that person comes onboard Catalyst as a result.
When the new onboarded person whom they taught does their first proposal.
When that person teaches a new prospect about Catalyst. And the cycle goes on
HOW CAN WE DO MULTIPLE PROJECTS AT THE SAME TIME.
If we are considering translation projects, each language pair (e.g English to Hindi ) has one or two Master Translators and one or two Proofreaders. The Master Translators are native speakers and experienced in the translation field They would do the translation and its given to the proofreader for quality checking. Any modifications are given back to the Master Translator who then amends the text and finalizes the text. If the workload is large we would use two Master Translators and two proofreaders instead of one.
As such , since each language pair has a dedicated team we are able to concurrently do 1, 2 5 10 or 100 language pairs at the same time. NO team is working on multiple projects. Each is dedicated to their project.
Same applies to dev projects. We have teams working on each project or app. No one is overstretched for time or energy. Therefore we can confidently undertake multiple projects at the same time
[FEASIBILITY] Please provide a detailed budget breakdown.
Programmers Wage 3 People at 60$ per hour for 200 hours
Creation of Native Token 36000 USD
Contingency 3000
Total 39000 USD
[FEASIBILITY] Please provide details of the people who will work on the project.
Dimitri Fernando https://www.linkedin.com/in/dimitrifernando777/
Active member of Catalyst Community - General ADA holder in Catalyst Circle V3, Community Advisor in Fund 6 and 7, Veteran Community Advisor in Fund 7, VCA in Flash Assessment in Fund 7, Cardano4Climate, Cardano Creatives, Founder of South Asian Town Hall, Active in Eastern Town Hall, Pacific Town Hall, European Town hall, Catalyst Swarm, Gimbalabs Playground
Serial Entrepreneur, INFJ, Marketer by profession, Creative by passion, Strategist, Writer, Poet, Storyteller Has background in multiple sectors and has run several companies with groundbreaking technologies in Sri Lanka.
+ 1992-1995 Voiced and Produced multiple programmes at Sri Lanka Broadcasting Corporation in numerous Services including Simultaneous translation on a Trilingual Stereo broadcast every day called City FM.
+ 1995 to present - Over 27 years running a translation agency handling translations in over 100 languages with native speaking Master Translators all over the world.
Uditha Bandara https://www.linkedin.com/in/udithabandara/
Uditha Bandara (MVP) is an expert in specializes in Microsoft , AI and Blockchain Technologies . He is an author in AI technologies, an international speaker and the founder/CEO of Blue Chip Asia and South East Asia`s First XNA/DirectX MVP (Most Valuable Professional)
[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.
Yes. We may, in order to build more functionality for the community.
[FEASIBILITY] Are you or any member of your team working on any other proposals in this Fund9?
Yes[FEASIBILITY] Are you or your team working on any other proposals from previous Funds?
Yes[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?
Number of segments identified
Number of marketing campaigns for these segments initiated
How many new prospects from these campaigns
For each of the campaigns
The metrics are
Number of followers to the repective Channel whether Youtube, FB, Instagram, Linkedin
Number of average views per post/video
Number of watching hours
Number of comments
Number of shares
Number of downloads
Number of new prospects who become influencers
Amount of time for each influencer to learn and then start reaching others
Amount of native tokens earned by each influencer
[AUDITABILITY] What does success for this project look like?
Reaching all the above mentioned segments
Getting a large number ( what is large has not been decided) of prospects from each of the segments
From this number getting all or most to become influencers
Teaching these influencers how to reach other prospects
Creating action and support teams where influencers can support each other and share knowledge and best practices
Providing support for influencers as they navigate the process of influencing and reaching others
Creating an effective native token which has value for all concerned
Creating a dynamic fast growing culture where all work and be incentivized for their onboarding work
[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.
New project
Team
From age of 10 , participating in multiple societies and groups over 38 years period, and onboarding diverse stakeholders and groups into groups and enabling them to be comfortable with the values of the group. Now doing the same with Catalyst, bringing new people to Catalyst.
