Fund parameters
Fund14 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.
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PARAMETER
VALUE
DESCRIPTION
General Parameters
A1
Direct Voting privacy state
Yes
Are votes private?
A2
Fund name
Fund14
A3
Funds available
20,000,000 ada
A4
Challenges title and budget
Cardano Open: Developers - ₳3,100,000
Cardano Open: Ecosystem - ₳3,000,000
Cardano Use Cases: Concept - ₳4,000,000
Cardano Use Cases: Partners & Products - ₳8,500,000
A5
Minimum budget request per proposal
Cardano Open:
Developers: ₳15,000
Ecosystem: ₳15,000
Cardano Uses Cases:
Concept: ₳15,000
Partners & Product: ₳250,000
Minimum amount for each proposal.
A6
Maximum budget request per proposal
Cardano Open:
Developers: ₳100,000
Ecosystem: ₳60,000
Cardano Uses Cases:
Concept: ₳100,000
Partners & Product: ₳1,000,000
Maximum amount for each proposal.
A7
Proposals submission fee
Free
Applicants can submit up to 6 proposals for community approval during Fund14. The Catalyst Team will remove incomplete proposals when the submission deadline elapses.
A8
Compensations and funds distribution target date
TBD
The target date, which is subject to change, for when F14 funding for milestone 1 initial tranche and community governance role compensation is paid following verification of test transactions.
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 person or entity, only the first 6 submissions received will be accepted for the voting process.
A10
Community Reviewer registration
Community Reviewer registration is a Catalyst ID generated in the Catalyst App for use in the Community Review Module
Anyone can register to be a Community Reviewer. Start by creating an account in Catalyst, generating a Catalyst ID and registering to be a Community Reviewer.
Community Reviewers can be LV0, LV1, LV2 reviewers based on their experience and contributions from previous Community Review stages.
A11
Proposals registration on the blockchain
TBD
The target date, which is subject to change, for when proposals are loaded into the vote plan and registered into Block0.
A12
Voting power threshold
Minimum 25,000,000 lovelace (25 ada)
25 ada is the minimum stake threshold to register as a voter
A13
Registration snapshot date
TBD
The target date, which is subject to change, for when the Snapshot takes place at the epoch boundary. Voters are advised not to move staked ada for one epoch beyond the snapshot time and date.
A14
Voting period start time
TBD
The target date, which is subject to change, when voters can start voting on proposals
A15
Voting period end time
TBD
The target date, which is subject to change, when voters stop voting on proposals
A16
Start of tallying
TBD
The target date, which is subject to change, when the voting tally is decrypted
A17
End of tallying
TBD
The target date, which is subject to change, when the decrypted tally is made publicly available.
A18
Enhancing decentralization
Generalized Quadratic Voting Factor: TBD after the stake snapshot (the basic gamma value is 0.5)
Generalized Quadratic Voting with the Scaling Factor (Gamma):
Gamma = 1 means "1 ADA is 1 Vote".
Gamma = 0 means "1 Wallet is 1 Vote".
Any fraction between those is (voter's stake in ADA) to the power of the Gamma = Voting Power.
The basic Scaling Factor is Square Root, which is equivalent to voter's stake in ADA to the power of 0.5 and corresponds to Quadratic Voting without generalization.
Compensation Parameters
B1
Proposal Funding logic (winner selection rule)
Proposals are ranked by the YES votes and funded one by one until the budget allocated for the category is exhausted. Any leftover funds will follow the logic and guidelines set out in the F14 Fund Rules.
Proposals are ranked by “YES” votes and funded in order of the voting power received. If the amount requested by a proposal is more than the remaining budget available, 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” in 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% ₳500,000
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% ₳500,000
Community Review Compensations
LV0 (20% of share - ₳100,000):
Share of compensations based on number of LV0 community compensations received
LV1 (80% of share - ₳400,000):
A simple price paid per review
B7
0.40% ₳80,000
Community Moderator Compensations
Share of community compensations based on the number of flags raised by scripts for LV2 moderator review
B8
1.60% ₳320,000
Project Accountability Management Compensations
Compensating L2 Community Reviewers who help to verify evidence of achievements for:
Statement of Milestones (SoM)
Milestone Proof of Achievement (PoA)
Funded projects will submit a Statement of Milestones once approved and onboarding.
Each SoM and milestone PoA are verified by at least 2 community reviewers at each milestone and compensated ada for their work.
Back-End Parameters
C1
Direct Voting privacy state
Yes
Are votes private?
C2
Funds under control
20,000,000 ada
Fund will have 20M ada available
C3
Voting power threshold
25,000,000 lovelace. (25 ada)
25 ada is the minimum stake threshold to become a voter, based on the efficiency benchmarks of the voting protocol.
C4
current_fund_name
Fund14
C5
current_insight_sharing_start
TBD
Target date, subject to change
C6
current_proposal_submission_start
TBD
Target date, subject to change
C7
current_refine_proposals_start
TBD
Target date, subject to change
C8
current_finalize_proposals_start
TBD
Target date, subject to change
C9
current_proposal_assessment
TBD
Target date, subject to change
C10
current_assessment_qa_start
TBD
Target date, subject to change
C11
current_snapshot_start
TBD
Target date, subject to change
C12
current_voting_start
TBD
Target date, subject to change
C13
current_voting_end
TBD
Target date, subject to change
C14
current_tallying_end
TBD
Target date, subject to change
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