?️ Project Catalyst: Fund6 Ultimate Voter Guide - ALL YOU NEED TO KNOW ?
FUND6️⃣ - here we go! $4,125,000 to be distributed in total!
FUND6️⃣ - here we go! $4,125,000 to be distributed in total!
Time to get close and personal with Cardano on-chain governance!
Note: This post is relevant to CASTING VOTES. I will keep updating this information as this rolls in to keep it up to date. In case you get lost, confused, run into any sort of trouble, follow the links at the end of this post for support.
? ICYMI
Town hall slides & recording with timestamps from Oct 6 that talks about Fund6 voting and updates
⚙️ Where voting registration is possible?
VOTER REGISTRATION FOR FUND6 IS NOW CLOSED! NEXT OPPORTUNITY IS FUND7.IMPORTANT: If you registered in Fund4 and/or Fund5 and were able to cast votes - your registration will be automatically valid for Fund6 voting round! Provided you still have your QR and PIN code and maintained 500 ada minimum balance during snapshot. Don't need to re-register then. This does not apply to Fund2 or Fund3 registrations. Your voting power, however, will be updated during the new snapshot relevant for Fund6.
? What's the timeline like for Fund6?
October 7 , 2021 @ ±11:00 UTC - VOTING START
October 21, 2021 @ 11:00 UTC - VOTING END
± October 28, 2021 - RESULTS
± beginning of November - INCENTIVES distribution
Note: Fund7 proposal submission is expected to start in mid November
?️ How To Vote?
⚠️ Before you do anything - you need to re-install your app as of now and re-scan your QR code once more to ensure your app is in a fresh ready state! This will enable voter history. ⚠️
Check out these helpful additional guides:
Voting will starts on October 7, 2021 at 11:00 UTC
Without QR and/or PIN code you will NOT be able to vote
Ensure to have a back up copy of both!
Project Catalyst Voting App (use ONLY official apps)
iOS: v0.1.15 https://apps.apple.com/app/id1517473397 (only iPhone7 and higher are supported)
Android: v0.1.15 https://play.google.com/store/apps/details?id=io.iohk.vitvoting
You will likely need to reinstall the app and re-scan the QR code once more after the voting begins!
This fixes the issue with missing history tab
? What is new in the voting app this round?
Built in app voter guide
Voter Guide provides information about Catalyst voting and governance processes to help onboard new Voters and users.
Private voting v1
Going forward your votes cannot be traced back to your wallet address.
This is an experimental first iteration, it’s still not perfect.
Push notifications
Push notifications mean users will not miss out on key dates and deadlines
Users can select which push notifications they receive regarding: Voting, Proposer, and Community Advisor related-info
Voting history
See which proposals you voted on.
If you cannot see your voting history - please reinstall the app and re-scan your QR/PIN code
Advisors reviews
Read the advisor rationale & total number of reviews made
Single casting of votes
You can only vote once on any proposal and cannot change your vote once cast
You can change your mind on your votes only prior finally casting them
? What else to keep in mind?
The voting power represents the amount of ada you held and registered at the time of snapshot that took place on October 4, 2021 @ 11am UTC.
500 ada = 500 voting power
5,000 ada = 5,000 voting power
50,000 ada = 50,000 voting power
Why is your voting power less than what your wallet shows?
Any unclaimed rewards are NOT part of the voting power - hence the difference
Also - staking does not prevent from voting and vice versa
You can vote for only one proposal, all of them, or anything in between. There are NO limits.
You are not spending your ada when voting, nor sending it anywhere. Voting power is a COPY of your real ada.
Your vote can be:
YES vote (positive), NO vote (negative), or ABSTAIN (you take no action)
You can change your mind and adjust your votes whenever until the deadline as long as you DO NOT CAST them to blockchain
Once you cast your votes to blockchain - you no longer can change your vote on these proposals
Once you vote YES or NO - you cannot presently revert back to ABSTAIN and will be asked to choose one of the two only options only
Every time you vote - ALL your voting power is applied to any proposal you choose (think about when you punch a bag - it's your total power of that punch)
If your voting power is 500 ada and you vote YES - 500 ada is added to the positive vote
If your voting power is 500 ada and you vote NO - 500 ada is added to the negative vote
If your voting power is 500 ada and you do not choose to vote - nothing happens
Your voting power does NOT deduct when you cast votes. It always stays the same!
In the end, all negative votes are deducted from all positive votes to arrive at the final vote tally
Proposal can be considered for funding only in such case that it receives at least 15% or more YES votes than NO votes
Top voted proposals get funded based on fund availability until there isn't enough votes to fund any next proposal in the amount they've asked for
During this time, there are no transaction fees incurred to cast your votes
Vote is done on a side chain Jormungandr, not a main net
You cannot check progress of vote as it unfolds in the current format
? Voter Rewards
$577,500 in ada to be distributed to all participating voting power (relative to individual ada holdings)
Amount of distribution is per ada not per wallet - and won't be known until all registration of voting power is complete
Fund6 Reward distribution is expected in mid November back to your registered wallet in the same format as your staking rewards (not as a separate transaction)
Your wallet must be staked in order to receive voter rewards by the time of rewards distribution the latest.
Unsure about previous Fund4 or Fund5 rewards and how to see them?
Check this post instead
There is no minimum of votes required to be eligible for voter rewards
? What will you be voting on in this Fund6 round?
Catalyst App has been loaded with all the data necessary for you to start voting. You will have until October 21st to cast your final votes. It is important to take your time and understand your voting choices as that determines future direction of Cardano ecosystem.
This can be an intimidating task - knowing there are so many proposals out there that are competing for your attention and votes. One of the easiest ways how to start browsing is via this community made voter tool that enables you just that. Give it a try.
Note: each proposal has a ranking in form of 1 to 5 stars added to it. This rating represents the outcome of Community Advisor (CA) review of all proposals. CAs were asked to review each proposal and give it a ranking/scoring in three distinct categories - IMPACT, AUDITABILITY/CLARITY, FEASIBILITY - on the following scale:
(1) I strongly disagree
(2) I disagree
(3) I neither agree nor disagree
(4) I agree
(5) I strongly agree
This score was then averaged from each of the three categories into one final score now visible inside the app from all valid participating CAs. Do keep in mind that these are guidelines and you are free to choose proposals based on your own understanding and research. Consider this as a useful tool in assisting your voter decision. You can learn about this in greater detail via Community Advisor Guidelines.
? 19 Funding Categories/Themes
Dev Ecosystem
Developer Ecosystem - $1,005,000 in ada available
102 proposals exploring: How can we create a positive developer experience that helps the developer focus on building successful apps?
Browse Projects
dApps & Integrations
dApp Creation & Integrations - $250,000 in ada available
105 proposals trying to identify what dApps will provide the most value for end users in 2021
Distributed Decision Making
Distributed Decision Making - $75,000 in ada available
20 proposals exploring: How can we help the Catalyst community to get better at distributed decision making within the next two Catalyst rounds?
Proposer Outreach
Proposer Outreach - $100,000 in ada available
29 proposals exploring: How can we encourage entrepreneurs from outside the Cardano ecosystem to submit proposals to Catalyst in the next two funds?
Catalyst Value Onboarding
Catalyst Value Onboarding - $75,000 in ada available
26 proposals exploring: How can we encourage more meaningful participation in Project Catalyst from community members in the next two funds?
Metadata Challenge
Metadata Challenge - $100,000 in ada available
30 proposals exploring: How can we utilize transaction metadata to solve real world problems?
Grow Africa, Grow Cardano
Grow Africa, Grow Cardano - $250,000 in ada available
41 proposals exploring: How do we seed and grow Cardano in Africa?
Scale UP Cardano's Defi Ecosystem
Scale UP Cardano's DeFi Ecosystem - $250,000 in ada available
23 proposals exploring: How can we encourage DeFi team to build/deploy open finance solutions on Cardano in the next 6 months?
Cardano Emerging Threat Alarm
Cardano Emerging Threat Alarm - $50,000 in ada available
9 proposals exploring: How can we help stakeholders identify serious emerging systemic threats for the Cardano blockchain before a threat overcomes the system?
Multilingual Resources
Multilingual Resources - $75,000 in ada available
41 proposals exploring: How can we motivate non English speakers to learn and row Cardano ecosystem in the next 3-6 months?
DeFi and Microlending for Africa
DeFi and Microlending for Africa - $90,000 in ada available
12 proposals exploring: How can we enable the creation of micro-lending and DeFi dApp solutions that fits the African setting?
DLT Entrepreneurship Toolbox
DLT Entrepreneurship Toolbox - $150,000 in ada available
23 proposals exploring: How can early stage entrepreneurs develop their skills to execute & communicate great ideas so voters/stakeholders value the project?
Partnerships for Global Adoption
Partnerships For Global Adoption - $30,000 in ada available
13 proposals exploring: How can Cardano enter in global partnerships with United Nations Development Programme and World Bank Group to leverage mass adoption?
NFT Business Models
NFT Business Models - $200,000 in ada available
80 proposals exploring: What non-art use cases of NFTs can distinguish Cardano as the blockchain of choice for NFT based businesses?
Atala PRISM DID Mass-Scale Adoption
Atala PRISM DID Mass-Scale Adoption - $250,000 in ada available
44 proposals exploring: What will drive mass-scale adoption of decentralized IDs on Cardano?
Disaster: When All Is At Stake
Disaster: When All Is At Stake - $150,000 in ada available
10 proposals exploring: How can we help SPOs tackle risks & plan, develop and participate in disaster recovery tests in a safe hiccup-free and decentralized manner?
Scale-UP Cardano's Community Hubs
Scale-UP Cardano's Community Hubs- $100,000 in ada available
32 proposals exploring: How do we encourage Local Community Hubs to drive adoption and awareness of Cardano in the next 6 months?
Improve And Grow Auditability
Improve And Grow Auditability - $100,000 in ada available
11 proposals exploring: How to make the auditing process of funded proposals efficient, distributed and transparent?
Fund7 Challenge Setting
Cardano Community Choice for Fund7 - $5,400,000 in ada available
60 challenges suggested to get launched during Fund7 in order to fulfil Cardano's mission
Browse Proposals: https://cardano.ideascale.com/a/campaign-home/26120
Voter tool: https://cardanocataly.st/voter-tool/#/fund/f6/challenge/26120
Note: these are NOT proposals for actual projects - but rather community driven choices of themes that anyone can submit actual proposals for during Fund7
This allows Cardano community to vote on direction of fund dispersion
If you come across an actual project proposal - this challenge is NOT intended for such purpose
wenNext Fund7️⃣?
Expected to start with insight stage tentatively on November 11 with 8 million us dollars worth in ada . Stay tuned for more updates via subscribing or hitting follow on below contact links.
? Now - off you go and help shape the future of Cardano by making your voice heard.
? Get in touch about Catalyst
Have questions or any doubts about Catalyst? Comment below or DM me directly here on reddit, via twitter or telegram - I'll get back to you as soon as possible!
Danny
Daniel Ribar
Community at Project Catalyst
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Where to find Project Catalyst?
? Catalyst Announcements only: https://t.me/cardanocatalyst
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