Fund12 parameters

Fund12 Operating parameters are the actual operating parameters that make up the Catalyst voting protocol put in place to enable the community to decide which proposal will receive funding under the Project Catalyst program. Please note that given the dynamic nature of Project Catalyst, the following dates and parameters may change as the actual Fund progresses. If this is the case, community announcements will be distributed for clarifications.

#	PARAMETER	VALUE	DESCRIPTION
	General Parameters
A1	Direct Voting privacy state	Yes	Are votes private?
A2	Fund name	Fund12
A3	Funds under control	50,000,000 ada
A4	Challenges title and budget	Cardano Use Cases: Concept - ₳7,500,000 Cardano Use Cases: MVP - ₳7,500,000 Cardano Use Cases: Product - ₳7,500,000 Cardano Open: Developers (technical) - ₳10,500,000 Cardano Open: Ecosystem (non-technical) - ₳5,500,000 Cardano Partners and Real World Integrations - ₳8,000,000
A5	Minimum budget request per proposal	Cardano Uses Cases: ₳15,000 Cardano Open: ₳15,000 Cardano Partners and Real World Integrations: ₳500,000	Minimum amount for each proposal.
A6	Maximum budget request per proposal	Cardano Uses Cases: Concept: ₳100,000 MVP: ₳300,000 Product: ₳500,000 Cardano Open: Developers (technical): ₳200,000 Ecosystem (non-technical): ₳100,000 Cardano Partners and Real World Integrations: ₳2,000,000	Maximum amount for each proposal.
A7	Proposals submission fee	Free	Proposers can submit up to 6 proposals for discussion on Ideascale. Catalyst Team will remove ‘placeholder’ proposals at the point where the submission deadline elapses. Placeholder proposals include proposals where any of the form fields are left unanswered or obviously incomplete by the deadline.
A8	Compensations and funds distribution target date	Aug 12, 2024	Target date, subject to change When community compensations and F12 funding for initial milestone 1 tranche is paid following verification of test transaction.
A9	Maximum proposals per Proposer or co-proposer that can be put on the ballot	6	If more than 6 applications are submitted by the same entity either as lead or co proposer, only the first 6 submissions received will be accepted for the voting process.
A10	Community Reviewer registration	Through Ideascale	Anyone can register as a Community Reviewer. Community Reviewers will be delineated between LV0, LV1, LV2 reviewers based on their contributions during the Community Review stage.
A11	Proposals registration on the blockchain	Jun 24, 2024	Target date, subject to change When proposals are loaded into the vote plan and registered into Block0.
A12	Voting power threshold	Minimum 450,000,000 lovelace (450 ada) Recommended 500,000,000 lovelace (500 ada)	450 ada is the minimum stake threshold to become a voter, based on the efficiency benchmarks of the voting protocol. Specific value of the voting stake threshold will be defined by the protocol benchmarks. Please note that due to the variety of 3rd party wallet providers integrating with Catalyst and associated voter registration fees, the recommended threshold to communicate is 500 ada required to participate in Catalyst voting as a buffer to account for unclaimed staking rewards.
A13	Registration snapshot date	Jun 18, 2024 09:45 PM UTC (epoch boundary 491 into 492)	Target date, subject to change Snapshot takes place around the epoch boundary. Advised to hold the balance for one epoch beyond the snapshot time and date.
A14	Voting period start time	Jun 27, 2024, 12:00 PM UTC	Target date, subject to change UTC date and time when voters can start voting on proposals
A15	Voting period end time	Jul 11, 2024, 11:00AM UTC	Target date, subject to change
A16	Start of tallying	Jul 11, 2024	Target date, subject to change
A17	End of tallying	Jul 14, 2024	Target date, subject to change UTC date when the decrypted tally is made publicly available.
A18	Tallying optimization	1 ADA = 1 voting token (i.e. the stake amount in lovelace is divided by 1,000,000)	How voting power is being proportionally reduced in order to optimize tallying performance
	Compensation Parameters
B1	Proposal Funding logic (winner selection rule)	Proposals are ranked by the Yes votes and funded one by one until the category budget is exhausted. Any leftover funds logic will follow guidelines outlined in the Fund Rules document.	`Proposals are ranked by Yes votes and funded in order. If the amount requested by a proposal is larger than the remaining challenge amount, it is skipped.
B2	Proposal acceptance threshold	1% of total voting power	At least 1% of the total registered stake must vote YES on a proposal. E.g., there is 1 billion ADA as a total registered stake. To be accepted (become an ‘approved proposal’ as well as be eligible for funding), a proposal must be voted by at least 0.01 * (1 * 10^9) = 10 millions of ADA.
B3	Voting options	Yes/Abstain	There is only Yes and Abstain across all categories
B4	Voter compensations formula		Voter compensations will be given for active participants only in proportion to the voting power voters have.
B5		2.50% ₳1,250,000	Voter Compensations Compensation is for active participation in the Voting (cast at least 1 vote) In order to benefit from voter rewards, voters must select either ‘Yes’ or ‘Abstain’ in the voter interface. By choosing to not select the ‘Abstain’ option, this will not cast an ‘Abstain’ vote and therefore not generate a unit of voter compensation.
B6		2.50% ₳1,250,000	Community Review Compensations LV0 (20% of share - ₳250,000): Share of compensations based on number of LV0 community compensations received LV1 (80% of share - ₳1,000,000): A simple price paid per review
B7		0.40% ₳200,000	Community Moderator Compensations Share of compensations based on number of flags raised by scripts for LV2 moderator review
B8		1.60% ₳800,000	Project Accountability Management Compensations Compensating Community Reviewer help to verify : Statement of Milestones (SoM) Milestone Proof of Achievement (PoA) Funded projects will submit to Catalyst a Statement of Milestones PoA and SoM are verified by at least 2 community reviewers and compensated ada for their work.
	Back-End Parameters
C1	Direct Voting privacy state	Yes	Are votes private?
C2	Funds under control	50,000,000 ada	Fund will control 50M ada
C3	Voting power threshold	450,000,000 lovelace. (450 ada) Communicate threshold as 500 to account for tx fees	450 ada is the minimum stake threshold to become a voter, based on the efficiency benchmarks of the voting protocol. Specific value of the voting stake threshold will be defined by the protocol benchmarks. Please note that due to the variety of 3rd party wallet providers integrating with Catalyst and associated voter registration fees, the recommended threshold to communicate is 500 ada required to participate in Catalyst voting as a buffer to account for unclaimed staking rewards.
C4	current_fund_name	Fund12
C5	current_insight_sharing_start	Apr 29, 2024	Target date, subject to change
C6	current_proposal_submission_start	Apr 29, 2024	Target date, subject to change
C7	current_refine_proposals_start	Apr 29, 2024	Target date, subject to change
C8	current_finalize_proposals_start	May 14, 2024	Target date, subject to change
C9	current_proposal_assessment	May 23, 2024	Target date, subject to change
C10	current_assessment_qa_start	Jun 13, 2024	Target date, subject to change
C11	current_snapshot_start	Jun 18, 2024	Target date, subject to change
C12	current_voting_start	Jun 27, 2024	Target date, subject to change
C13	current_voting_end	Jul 11, 2024	Target date, subject to change
C14	current_tallying_end	Jul 14, 2024	Target date, subject to change