Fund10 parameters
Fund10 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 from the Cardano Treasury.
Table 1
This table summarizes main parameters to be used.
Product/Business/Informative Parameters
A1
Direct Voting privacy state
Yes
Are votes private?
A2
Fund name
Fund10
A3
Funds under control
50,000,000 ada
Fund will control 50M ada
A4
Challenges title and budget
Atala PRISM: Launch Ecosystem🚀 - ₳3,158,400
A5
Minimum budget request per proposal
₳15,000
Minimum amount for each proposal.
A6
Maximum budget request per proposal (Applies to Catalyst Open category only)
₳75,000
Maximum amount for each proposal in the Catalyst Open category
A7
Proposals submission fee
Free
Proposers can submit any number of 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
Funds Move Instantaneous Rewards (MIR) target date
Sep 18, 2023
Fund10 budget should be moved from the treasury to the seed account before voting results.
A9
Rewards and funds distribution target date
Oct 16, 2023- Oct 20, 2023
When community rewards and F10 funding for initial milestone 1 tranche is paid following verification of test transaction.
A10
Maximum proposals that can be put on the ballot
No limit
A11
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.
A12
Proposals registration on the blockchain
Aug 30, 2023
Date when proposals are loaded into the vote plan and registered into Block0
A13
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.
A14
Registration snapshot date
Aug 18, 2023 09:00 PM UTC
A15
Voting period start time
Aug 31, 2023, 11:00 AM UTC
UTC date and time when voters can start voting on proposals
A16
Voting period end time
Sep 14, 2023, 11:00AM UTC
A17
Start of tallying
Sep 14, 2023
A18
End of tallying
Sep 18, 2023
UTC date when the decrypted tally is made publicly available.
A19
fund_id
10
Fund_id as described in vote plan
A20
Tallying optimization
1 ADA = 1 voting token (i.e. the stake amount in lovelace is divided by 1000000)
How voting power is being proportionally reduced in order to optimize tallying performance
Rewards Parameters
B1
Proposal Funding logic (winner selection rule)
Fuzzy threshold voting, proposals are ranked by the difference of Yes and No votes and funded one by one until challenge budget is exhausted
Proposals are ranked by sum of 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
15% more ‘Yes’ than ‘No’
At least 1% of the total registered stake must vote 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.
'Yes'-'No' difference of the stake voted on proposal must be at least 15%
Formula: (YES-NO)/(YES+NO) > 0.15
(e.g., 90% 'Yes' and 10% 'No', or 57.6% 'Yes' and 42.4% 'No', or 100% 'Yes' and 0% 'No', etc.; it is assumed that abstained stake does not vote on the proposal in the current architecture).
B3
Voting options and Funding logic in Catalyst Operations category
Yes/Abstain
No ‘No’ option
No thresholds
The winner is determined by the highest ‘Yes’ vote only.
B4
Vrtotal
2.50% ₳1,250,000
Voter Rewards
Rewards are received by casting votes
B5
Artotal
2.50% ₳1,250,000
Community Review Rewards
LV0 (20% of share)
LV1 (80% of share)
B6
AArtotal
0.40% ₳200,000
Community Moderator Rewards
LV2 (up to ₳5 ada for each review check)
B7
Cttotal
0.22%
₳110,000
₳10,000 per CT
30% (₳3,000) Deliverable 1
70% (₳7,000) Deliverable 2
Challenge Team rewards paid for:
Deliverable 1: Introducing the challenge during F10 launch
Deliverable 2: Onboarding FPs and conducting PoL verification
B8
Pam
1.20% ₳600,000
Breakdown:
0.40% ₳200,000 for Project < ₳150,000
₳200 per Milestone PoA
0.80% ₳400,000 for Project > ₳150,000
₳300 per Milestone PoA
₳350 per Statement of Milestone (regardless of project budget)
Project Accountability Management Rewards
Rewarding Community Reviewer help to verify :
Statement of Milestones (SoM)
Milestone Proof of Achievement
[1] Funded projects will submit to Catalyst a Statement of Milestones
SoM is verified by at least 2 community reviewers and rewarded ada for their work.
[2] PoA conducted by a reviewer representative. PoA incentive is paid to reviewers.
Where proposals are over ₳200,000 reviews must be conducted by 2 separate reviewers.
Maximum reward is ₳200/₳300 each for 2 reviewers to carry out PoA.
B9
Voter Rewards formula
Vrj=stakejstaketotalVrtotal
Voter rewards will be given for active participants only in proportion to the voting power voters have.
stakej - voter’s stake;
staketotal - total amount of ‘active’ stake.
B10
Community Review LV0 reward formula
0.5%
₳250,000
% Share of rewards taken from 20% of the allocated budget
Maximum ₳17 per review
Share of rewards based on number of Lv0 community rewards received
0.5% of total budget
B11
Community Review LV1 reward formula / $ price per LV1 Community reviewer reward
2%
₳1,000,000
₳33 per review taken from 80% of the allocated budget
A simple price paid per review
2% of total budget
B12
Community Review LV2 (Community Moderators) reward formula / $ per Lv2 reward
0.4%
₳200,000
Maximum ₳5 per LV2 flagged review check
Share of rewards based on number of flags raised by scripts for LV2 moderator review
0.4% of total budget
B13
# of LV1 reviews that will be rewarded in a round
10-80 Reviews per LV1 Community Reviewer are rewarded under this parameter
A limit to how much an individual LV1 can be rewarded for their allocation in a single funding round.
Minimum rewards threshold is ₳330 in ada for 10 reviews. Any number of reviews under this amount will not be rewarded.
Any reviews above the threshold allocation number (80) will be included into the LV0 pot
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
Minimal 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. Note that threshold must be lowered by 50 ada from the amount stated to the community to address registration fees.
C4
current_fund_name
Fund10
C5
current_insight_sharing_start
Jun 22, 2023
C6
current_proposal_submission_start
Jun 22, 2023
C7
current_refine_proposals_start
Jun 22, 2023
C8
current_finalize_proposals_start
Jul 13, 2023
C9
current_proposal_assessment
Jul 20, 2023
C10
current_assessment_qa_start
Aug 10, 2023
C11
current_snapshot_start
Aug 18, 2023
C12
current_voting_start
Aug 31, 2023
C13
current_voting_end
Sep 14, 2023
C14
current_tallying_end
Sep 18, 2023
Last updated