What is Project Catalyst?
Project Catalyst is a series of experiments which seeks to generate the highest levels of community innovation. Catalyst is bringing on-chain governance to the Cardano blockchain by allowing the community to self-determine priorities for growth. It also lets participants deploy funding to proposals which tackle challenges and capitalize on opportunities that arise in the life cycle of Cardano.
To do this, Project Catalyst is divided into a series of funds which are deployed every six weeks. These funds will illicit ideas in the form of proposals from participants. Each proposal will focus around a challenge issued by the Project Catalyst team or the Project Catalyst community. The proposals will then go through a community refinement process where they are vetted for feasibility, auditability, and impact by a group of incentivized community advisors. Once the proposals have been finalized they will be voted on by the community and funds will be distributed in the form of ada to winning projects. Each stage of this process is described in greater detail throughout this document.
How can I participate?
Anyone can participate in Project Catalyst. Ada-holders, and those new to Cardano are more than welcome. We are also looking for both technical and non-technical expertise. This is all about casting a wide net to find great ideas and make them better. So, you can take part in Project Catalyst in the following ways:
Propose new ideas
Suggest feedback on other ideas
Help refine the idea into a proposal (fill out a structured questionnaire to help improve proposals)
Offer help in implementing proposals through a professional service
Help in problem definition, evaluation or breakdown
Share insights about competitive analysis of other blockchain solutions
Share relevant knowledge in regards to problem-solving
Review finalized proposals to help ada holders make the best decision
Provide us feedback on how to improve the process facilitating its efficiency
What will the process look like?
The program consists of five key phases; innovation, governance and execution
Challenge refinement— Share your perspective on the challenge: facts, anecdotes, examples, opinions, wild ideas. (Instructions in detail)
Ideate — Submit initial proposal ideas. Give feedback, follow promising ideas, join forces.
Refine — Provide proposers feedback on how they can increase the Impact, Auditability and Feasibility of their idea.
Finalize — Turn refined ideas into proposals ready for the vote.
Assess — Community advisors review while the community reflects on how to improve proposals and process for their next iteration.
Voter discussion — View proposals in the voting app. Discussion is now about which proposals should be funded, and Q&A with proposers, rather than how to improve them further.
Fund3 innovation phase timeline
Challenge refinement phase: Jan 6th -Jan 13
Proposal draft submission: Jan 13 - Jan 20
Proposal Refinement : Jan 20 - Jan 27
Proposal Final submission: Jan 27 - Feb 3
Proposal Review: Feb 3 - Feb 10
Reviewing the reviewers: Feb 10 - Feb 16th
Fund3 governance phase + Fund4 innovation phase launch: Feb 16th.
Registration - Voting committee published top proposals. Voters register by depositing ada.
Voting - Voter vote on proposals using a mobile app
Tallying - Voting committee tallies votes and publish the results
Rewarding - Voting committee distributed rewards to voters and to approved proposers
Reporting - Approved proposers send progress reports