Fund 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.
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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
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