# Fund parameters

Fund15 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**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ----------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| <p><br></p> | **General Parameters**                                                                                                                                                                                                                                                                     |                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| A1          | Direct Voting privacy state                                                                                                                                                                                                                                                                | Yes                                                                                                                                                                                                                                                                                                                                                                                                        | Are votes private?                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| A2          | Fund name                                                                                                                                                                                                                                                                                  | Fund15                                                                                                                                                                                                                                                                                                                                                                                                     | <p><br></p>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| A3          | Funds available                                                                                                                                                                                                                                                                            | $ADA 20,000,000 and $USDM 250,000                                                                                                                                                                                                                                                                                                                                                                          | <p><br></p>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| A4          | Challenges title and budget                                                                                                                                                                                                                                                                | <p>Cardano Open: Ecosystem - $ADA 4,000,000</p><hr><p>Cardano Use Cases: Prototype & Launch - $ADA 6,000,000 </p><hr><p>Cardano Partners: Tier-1 Enterprise Integrations - $ADA 8,500,000 </p><hr><p>Midnight: Compact DApps - $USDM 250,000 </p>                                                                                                                                                          | <p><br></p>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| A5          | Minimum budget request per proposal                                                                                                                                                                                                                                                        | <p>Cardano Open: <strong>$ADA 15,000</strong> </p><p>Cardano Use Cases: <strong>$ADA 15,000</strong> </p><p>Cardano Partners: <strong>$ADA 250,000</strong> </p><p>Midnight: <strong>$USDM 2,500</strong> </p>                                                                                                                                                                                             | Minimum amount for each proposal.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| A6          | <p>Maximum budget request per proposal </p><p><br></p>                                                                                                                                                                                                                                     | <p>Cardano Open: <strong>$ADA 60,000</strong> </p><p>Cardano Use Cases: <strong>$ADA 200,000</strong> </p><p>Cardano Partners: <strong>$ADA 750,000</strong> </p><p>Midnight: <strong>$USDM 10,000</strong> </p>                                                                                                                                                                                           | Maximum amount for each proposal.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| A7          | Proposals submission fee                                                                                                                                                                                                                                                                   | Free                                                                                                                                                                                                                                                                                                                                                                                                       | Applicants can submit up to 2 finalized proposals into Fund15. The Catalyst Team will remove incomplete and ineligible/non-compliant proposals when the submission deadline elapses.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| A8          | Compensations and funds distribution target date                                                                                                                                                                                                                                           | March 2026                                                                                                                                                                                                                                                                                                                                                                                                 | The target date, which is subject to change, for when F15 funding for milestone 1 initial tranche and community governance role compensation is paid following verification of test transactions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| A9          | Maximum proposals per applicant that can be put on the ballot                                                                                                                                                                                                                              | 2                                                                                                                                                                                                                                                                                                                                                                                                          | If more than 2 applications are submitted by the same person or entity, only the first 2 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                                                                                                                                                                                                                                                                                      | <p>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.</p><p><br></p><p>Community Reviewers can be LV0, LV1, LV2 reviewers based on their experience and contributions from previous Community Review stages.  </p>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| A11         | Proposals registration on the blockchain                                                                                                                                                                                                                                                   | Jan 8, 2026                                                                                                                                                                                                                                                                                                                                                                                                | 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                                                                                                                                                                                                                                                                     | <p>Minimum 25,000,000 lovelace<br>(25 ADA)<br><br><br></p>                                                                                                                                                                                                                                                                                                                                                 | 25 ADA is the minimum stake threshold to register as a voter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| A13         | Registration snapshot date                                                                                                                                                                                                                                                                 | Jan 4, 2026 09:45 PM UTC (epoch boundary 604 into 605)                                                                                                                                                                                                                                                                                                                                                     | 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                                                                                                                                                                                                                                                                   | Jan 13, 2026, 12:00 PM UTC                                                                                                                                                                                                                                                                                                                                                                                 | The target date, which is subject to change, when voters can start voting on proposals                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| A15         | Voting period end time                                                                                                                                                                                                                                                                     | Jan 27, 2026, 11:00 AM UTC                                                                                                                                                                                                                                                                                                                                                                                 | The target date, which is subject to change, when voters stop voting on proposals                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| A16         | Start of tallying                                                                                                                                                                                                                                                                          | Jan 27, 2026                                                                                                                                                                                                                                                                                                                                                                                               | The target date, which is subject to change, when the voting tally is decrypted                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| A17         | End of tallying                                                                                                                                                                                                                                                                            | <p>Jan 29, 2026</p><p><br></p>                                                                                                                                                                                                                                                                                                                                                                             | The target date, which is subject to change, when the decrypted tally is made publicly available.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| A18         | Enhancing decentralization                                                                                                                                                                                                                                                                 | <p>Generalized Quadratic Voting Parameter: 1/3 (Cube Root) after the stake snapshot</p><p><br></p>                                                                                                                                                                                                                                                                                                         | <p>Generalized Quadratic Voting with the Scaling Parameter (Gamma):</p><p><br></p><p>Gamma = 1 means "1 ADA is 1 Vote".</p><p><br></p><p>Gamma = 0 means "1 Wallet is 1 Vote".</p><p><br></p><p>Any fraction between those is (voter's stake in ADA) to the power of the Gamma = Voting Power.</p><p><br></p><p>The Scaling Parameter is Cube Root, which is equivalent to the voter's stake in ADA to the power of 1/3 in the selected Generalized Quadratic Voting scheme.</p>                                                                                                                                                                                                                                                                                                                                                   |
| A19         | <p>Proposal Funding logic<br>(winner selection rule)</p>                                                                                                                                                                                                                                   | <p>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 F15 Fund Rules.</p><p><br></p><hr><p>Midnight: Compact DApps category proposals follow the same logic, but are subject to Midnight Foundation's ultimate decision about which proposals are funded.</p> | 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| A20         | Proposal acceptance threshold                                                                                                                                                                                                                                                              | <p>2% of active voting power</p><p><br><br></p>                                                                                                                                                                                                                                                                                                                                                            | <p>At least 2% of the total voting power calculated based on the total active stake in all active wallets must cast at least one vote.</p><p><br></p><p>E.g., there is 1,75 billion of ADA as the total active stake in 5000 wallets. From the amount of stake in each wallet it is independently taken the cube root (giving corresponding voting power to the owner of this wallet), and the sum of voting power in all wallets gives 208,722 ADA of the total voting power (as there is a sum of the cube roots, this sum depends on stake distribution among wallets and it is not equal to just the cube root of the total registered stake).</p><p><br></p><p>To be accepted (become an 'approved proposal' as well as be eligible for funding), a proposal must be voted "YES" by at least 0.02 \* ₳208,722 = ₳4,174.44</p> |
| A21         | Voting options                                                                                                                                                                                                                                                                             | Yes/Abstain                                                                                                                                                                                                                                                                                                                                                                                                | There is only “YES” and “ABSTAIN” in all categories                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| <p><br></p> | **Compensation Parameters**                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| B1          | Voter compensations formula                                                                                                                                                                                                                                                                | <div><figure><img src="https://1289858131-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F1WSgbrgHqq5E9Mh8hoBn%2Fuploads%2FusH8CDoujQckxqqRgTRP%2Fimage.png?alt=media&#x26;token=96fa97a5-89ec-48f6-8db2-fb79c48e6100" alt=""><figcaption></figcaption></figure></div>                                                                                                                 | <p>Voter compensations will be given for active participants only in proportion to the voting power voters have.<br><br></p><div><figure><img src="https://1289858131-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F1WSgbrgHqq5E9Mh8hoBn%2Fuploads%2FTdHhH2SsZpJC4t8xyy2d%2Fimage.png?alt=media&#x26;token=1cf65c7a-973f-42c4-bb24-b7bb00aec11d" alt=""><figcaption></figcaption></figure></div>                                                                                                                                                                                                                                                                                                                                                                                                             |
| B2          | <div><figure><img src="https://1289858131-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F1WSgbrgHqq5E9Mh8hoBn%2Fuploads%2FKnRSfbVDbdOXPnjDQnLx%2Fimage.png?alt=media&#x26;token=fad86188-f445-4155-800f-9da0efee64a0" alt=""><figcaption></figcaption></figure></div> | <p>2.50%<br>$ADA 500,000 </p>                                                                                                                                                                                                                                                                                                                                                                              | <p>Voter Compensations</p><p><br></p><p>Compensation is for active participation in the Voting (cast at least 1 vote)</p><p><br></p><p>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. </p>                                                                                                                                                                                                                                                                                                                                                                                                                             |
| B3          | ![](https://1289858131-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F1WSgbrgHqq5E9Mh8hoBn%2Fuploads%2FlqJeZkCqYKMEIhWWKiqb%2Fimage.png?alt=media\&token=2cd021a9-8d42-47ee-8a9c-e09f629ef03e)                                                                        | <p>2.50%<br>$ADA 500,000 </p>                                                                                                                                                                                                                                                                                                                                                                              | <p>Community Review Compensations</p><p><br></p><p>LV0 (20% of share - $ADA 100,000): </p><ul><li>Share of compensations based on number of LV0 community compensations received</li></ul><p><br></p><p>LV1 (80% of share - $ADA 400,000):</p><ul><li>A simple price paid per review</li></ul>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| B4          | <div><figure><img src="https://1289858131-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F1WSgbrgHqq5E9Mh8hoBn%2Fuploads%2FRacioyPvtrllzw7fQkFY%2Fimage.png?alt=media&#x26;token=e7404279-86f2-4ebd-9a97-09519190f120" alt=""><figcaption></figcaption></figure></div> | <p>0.70%<br>$ADA 140,000 </p>                                                                                                                                                                                                                                                                                                                                                                              | <p>Community Moderator Compensations</p><p><br>$ADA 120,000:</p><ul><li>Share of community compensations based on the number of flags raised by scripts for LV2 moderator review</li></ul><p><br></p><p>$ADA 20,000:</p><ul><li>Maximum share of community compensation based on the number of flags raised by Moderators during LV2 Moderation Bounty</li></ul>                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| B5          | Pam                                                                                                                                                                                                                                                                                        | <p>1.80%<br>$ADA 360,000 </p><p><br><br></p>                                                                                                                                                                                                                                                                                                                                                               | <p>Project Accountability Management Compensations </p><p> </p><p>Compensating L2 Community Reviewers who help to verify evidence of achievements for:</p><ol><li>Statement of Milestones (SoM)</li><li>Milestone Proof of Achievement (PoA)</li></ol><p><br></p><p>Funded projects will submit a Statement of Milestones once approved and onboarding.</p><p><br></p><p>Each SoM and milestone PoA are verified by at least 2 community reviewers at each milestone and compensated $ADA for their work.</p><p><br></p>                                                                                                                                                                                                                                                                                                           |
| <p><br></p> | **Back-End Parameters**                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| C1          | Direct Voting privacy state                                                                                                                                                                                                                                                                | Yes                                                                                                                                                                                                                                                                                                                                                                                                        | Are votes private?                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| C2          | Funds available                                                                                                                                                                                                                                                                            | <p>$ADA 20,000,000 </p><p>$USDM 250,000 </p>                                                                                                                                                                                                                                                                                                                                                               | Fund will have $ADA 20M and $USDM 250K available                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| C3          | Voting power threshold                                                                                                                                                                                                                                                                     | <p>25,000,000 lovelace.<br>(25 ADA)</p>                                                                                                                                                                                                                                                                                                                                                                    | 25 ADA is the minimum stake threshold to become a voter, based on the efficiency benchmarks of the voting protocol.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| C4          | current\_fund\_name                                                                                                                                                                                                                                                                        | Fund15                                                                                                                                                                                                                                                                                                                                                                                                     | <p><br></p>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| C5          | current\_insight\_sharing\_start                                                                                                                                                                                                                                                           | Nov 12, 2025                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C6          | current\_proposal\_submission\_start                                                                                                                                                                                                                                                       | Nov 12, 2025                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C7          | current\_refine\_proposals\_start                                                                                                                                                                                                                                                          | Nov 12, 2025                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C8          | current\_finalize\_proposals\_start                                                                                                                                                                                                                                                        | Nov 12, 2025                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C9          | current\_proposal\_assessment                                                                                                                                                                                                                                                              | Dec 2, 2025                                                                                                                                                                                                                                                                                                                                                                                                | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C10         | current\_assessment\_qa\_start                                                                                                                                                                                                                                                             | Dec 18, 2025                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C11         | current\_snapshot\_start                                                                                                                                                                                                                                                                   | Jan 4, 2026                                                                                                                                                                                                                                                                                                                                                                                                | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C12         | current\_voting\_start                                                                                                                                                                                                                                                                     | Jan 13, 2026                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C13         | current\_voting\_end                                                                                                                                                                                                                                                                       | Jan 27, 2026                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| C14         | current\_tallying\_end                                                                                                                                                                                                                                                                     | Jan 29, 2026                                                                                                                                                                                                                                                                                                                                                                                               | Target date, subject to change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.projectcatalyst.io/current-fund/fund-basics/fund-parameters.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.