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
|
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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:
Cardano Open:
| 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):
LV1 (80% of share - ₳1,000,000):
| |
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 :
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 |
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