Input Output (IOHK) Project Catalyst, 16 Dec 2020

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From YouTube: Project Catalyst Fund2: Weekly town hall and Q&A #14 - December 2020

Description

Cardano Catalyst Announcements - https://t.me/cardanocatalyst

Project Catalyst Fund 2 Chat - https://t.me/ProjectCatalystFund2Chat

Discord channel- https://discord.com/invite/aKcVQgM

Townhall updates - https://twitter.com/danny_cryptofay?s=20

Example Expert ballot recommendation - Kudos Greg Pendlebury
https://docs.google.com/spreadsheets/d/1f3n-3X98WYuXBdPhBW5EmOapaChfUjAWOYgqhuOGfLw/edit#gid=1511145570

Catalyst Dashboard - Kudos Danny
https://docs.google.com/spreadsheets/d/15R-Vbajy4t4fGs1TipNMfL1pEO9cwdn6WV13lKviX4Q/edit#gid=755717523

Daedalus Catalyst 1.0.0-CT release notes and instructions
https://bit.ly/38pRV11

Help us fix for the next round:
https://iohk.zendesk.com/hc/en-us/requests/new

Bugs and other technical issues: https://iohk.zendesk.com/hc/en-us/requests/new

Feature requests/ideas/broader feedback.
https://bit.ly/3nreCbj

A

And they have funding grounds that are of half a million in size and the number of participating voters. There is about a thousand, so we in our first go in our first. Try we're almost doubling what dash is doing after many years.

A

Then you look, then you look at ethereum ecosystem okay. So if you look at the deep dow statistics about uh voter participation in across all the all the different dials in in the ethereum ecosystem, okay and and and this is like- uh let's say it's- a it's- a subset, okay of er of everything, but but basically those who have a kind of a proposal system in place- and you add up all the numbers of voters- they have all of the top 100 combined.

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So, okay, so genesis alpha, 128, plus dx, dow 110 meta cartel another 63. You add up all these 100 and combining into one figure it's around 1100, and so we beat that. So we beat all the there's more votes like at least the more more registrations than than voters for the top 100 thousand ethereum combined. So we're almost I'm, I I would say we're almost done more than all the ethereum and dash together. So that's a great it's kind of a vanity metric, but it's not really vanity magic. It's it's!

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uh It's a metric that just shows the immense potential this community has and the fact that we're just getting started and we get this turnout and I think we can. I think we can just look forward uh with great anticipation and optimism how things are going to evolve next year.

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So I also want to congratulate all the new all the new voters. You, you won. You won your right to become voters, it wasn't an easy fit.

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You spend many hours um a lot of frustrations, a lot of questions. uh Short time notice. uh You had to have the minimum threshold of ada. I know that many people with hard wallets went into great efforts to to to prepare um anybody who managed to go past all the hurdles and become a voter. Should they kind of pound himself on the chest and be proud uh for your achievement, and and for you becoming a part of a voting member of fun too.

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I hope we can look back one day and this is a sort of a badge of honor, so really really appreciate. Everybody's efforts.

A

And so I want to I'm going to do kind of a quick review of a lot of things. We went through town halls all over the year because I feel we have a lot of new people that are that are just joining and so giving you a quick brief. Okay. So what's what's special about catalyst funds compared to let's say how a regular company manages it's, it's it's funds, okay, so a regular company can hardly be votes. I mean uh you know.

A

Even a really good startup can only be with like, let's say three times a year. uh You know change change direction. Try, try something new different market, different product, etc. Er with catalyst funds. We can. We can have hundreds of experiments a year, okay, so we're much more efficient in exploring the possibility space than any normal company centralized company.

A

Also, we know that in regular companies exploring exploit doesn't work so either a company is is exploring so it's innovating or it's exploiting it's like optimizing. How much revenue I'm gonna get from my existing services, um but when companies try to explore and exploit in the same time, there's about 75 failure rates for innovation for new innovations here in catalyst funds we can do both, we can explore and exploit and we can explore without cuffs, so without limiting our imagination, our capacity and we're simply not dependent on each other.

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We can each one each one, each each team, each proposal team can go its own way and we can look at the. We could look at the results: a regular company slow to hire risky to fire. Okay, it takes many months to hire a person uh firing. A person is very risky uh in in catalyst fans and proposers.

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You know we can literally mobilize thousands of people in a matter of weeks, and so we are very agile, very adaptive, adaptive in a way you can't even imagine yet we haven't got there yet, but we're on the way on the way.

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And, lastly, you know for for a company to move to take action, there's a slow building of consensus. You need to get all the top-down management to agree and then all the department leads and then coordinate, etc. It can take many a lot of time, a lot of effort, catalyst funds. We don't need a consensus. We just need output, we need results, so we can launch many experiments. We can see which win, which fails, which which, which are we happy with which we don't and we can iterate and learn as as we go okay.

A

So this is a. This is a big difference. Okay, this is something we've never seen before, not in not not that I know of industry of mankind- and this is our opportunity to see where it leads us so think about that when you're funding proposals- if you know- if you want to you know so when you when you're voting, you know, do you think about yourselves, like let's say, like a committee like a grant committee in uh of an academic institution? Do you think about yourself, like a government fund?

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That's uh with you know, people requesting uh funding as external contractors and you're hiring them, or you want to adopt a let's say, like a radical growth mindset.

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Okay, so think about your framing and and try to understand that we're doing something completely new and I think we should give it a shot so for this fund we're gonna, have the challenge is very simple: we just have one challenge: that's going to be very easy compared to uh let's say: what's going to happen in fund three, whether we have multiple challenges in parallel, we're just going to have one, and it is: how can we encourage developers and entrepreneurs to build gaps and businesses on top of cardano in the next six months?

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Okay, this was the challenge that was posed to proposers, and their proposals are responses to this challenge. So, in the end of the challenge, we're going to ask ourselves, did we like, as we review the outcomes of the proposing teams? Okay, did we actually encourage developers and entrepreneurs to join were we were daps and businesses built on top of cardano in the next six months?

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This is how we're gonna validate whether we address the challenge or not address the challenge, so even taking uh from a metrics perspective from what what's the objective here in the end, hey, we have a process that starts with innovation.

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uh That was already concluded, innovation phase and the purpose is to generate good proposals. Okay, and how do we? How do we know that we generated good proposals? Well, we have a community advisor, so these are people with a record in the community that volunteered and volunteered sasha also received an incentive uh to review proposals on a score of one to five based on several criteria. I'm going to talk about it, but the key stat statistic here is that the top ten proposals got an average score of 4.2 out of five.

A

So pretty good, uh so, at least in in terms of what your community peers assess. uh How how how the top 10 percent of proposals in terms of review score are achieving the challenge not not too shabby not too shabby. We can do better. We can do a lot worse, um then. The next part is the governance phase. This is where we are at right now we just started the governance phase.

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Governance phase is all about good decisions right, so we have this bank. We generated this bank of proposals like the proposing teams, but also with the general feedback of the community.

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Now it's time to discern right, which proposals do we want to see funded, which proposals we prefer? We don't think maybe not ready yet or not ready at all, and for this we take two measurements and the first one is just the basic participation. Okay, so are we? You have an involved community.

A

um Do enough people care? Okay, I think the answer right now is yes like for the size that we're at for where we are at. We definitely highly engaged really caring and I don't know I've never seen anything like that. In all my experience of working on this similar projects and then the the the open question, there's two open questions. One is how many actual voters from the registers voters are going to be able to vote, because I think some people are going to be limited by some people get.

A

You know sadly lost their qr code or heavy issues or other issues and, of course, we're prioritizing to fix that for the next fund and also good decisions. You know how are we doing as a collective, uh making, meaning and making good good decisions together so that the outcome is is actually uh let's say: collective intelligence, okay and and uh taking everybody's skills and experience to to get to a good outcome.

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You know versus each one being in its own silo and and being less collectively smart.

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The third phase, that's going to happen right after when the funding event happened. Is we move into the execution phase of the fund?

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Then we're going to have a cohort of the of all the funded teams and we're gonna. So each team, of course, will run off to to to do their thing. Their proposal, but we're also gonna, have them meet and collaborate and help each other and maximize the general outcome of the treasury. So this is another paradigm of collaboration that we're experimenting with not only that they're going to get professional supports and help from iohk and cardano foundation, possibly mergo too, and we're gonna nurture them.

A

So when you vote, you know you can also think about that, like which you know not just the content of the proposals, but the people behind it. Okay, so which people do we want to nurture, you know, do we want to start to put on that track where they're they're part of this ever-growing network of proposers, because I think the idea is not that let's say like a proposal fails, it can happen. You can. You can have a great idea for some circumstances.

A

It doesn't work better to take the talented team teammates from their team and have them join other proposing team, for example, then lose the opportunity so really think about the people that we are investing in and and pick people you, uh you know you you think are worthy. I think they they that they deserve from what you know.

A

Oh yeah, maybe last thing about this: you know at the end of so so the some part of all these parts, the good good proposals, good decisions and good execution- is the roi the return on our intention, not not returning the investment return on intention. Did we actually get what we intended to do? Okay, what what are we intending to do we intended to encourage the offers and entrepreneurs to build ups and businesses? Okay?

A

So we have all these communication hubs um and you can look at the statistics and and the different levels of involvement uh you know depends how much you want to be active or passive. So we have we we we're scratching. You know I. I rounded up the figure we're almost at 4000 members on id scale, and that is the main I'm gonna talk about it.

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Then we have the announcement telegram channel.

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This is, this is for people who just want to get the uh you know, announcements about voting when voting starts when it ends reminders uh invitations to the town hall, but just just that so so high signal low noise kind of situation, then we have the fantu telegram chat, so this is more involved.

A

This is for a lot of it for people who want want support, you know, maybe they got stuck in registering, and maybe they have some questions and we have like lots of community amazing, amazing and sweet and kind uh community members to uh to help to help and give you the support you need. So this is a bit more involved.

A

Then we have the discord channel, so the discord is really one more level higher of engagement. So this is really people who really want to dig in have conversations with proposers and find developers to join in their projects uh want to share heavy. Like in-depth discussions about uh like a chat about the merits of of a proposal or a proposing strategy, there's many many different channels there.

A

It's really a treasure trove and you know if you, if you feel like you, want to get a bit more involved in the project, it's a great place to be, and finally, we have the really nice town hall updates that the danny is doing, and I simply suggest you follow- follow his twitter and after the town hall, he he always publishes a really nice summary of everything. I'm saying so, uh and I'm saying everybody else is saying so you know. Thank you thanks danny, that's like brilliant, okay.

A

So beyond that resources for voters, okay, so I want to. I want you to take two two great examples. One is the expert ballot recommendation and thank you greg for generating that. So so we have, we had one community member really took picked up a challenge and made his a voting public. So so, basically you can you can, or it at least, is an analysis and thought process, and I want to see if I can share that one one.

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Okay, so you know, if I just go to.

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If, if I go through this spreadsheet, you can see he did really detailed analysis about, um like the name of the proposal, link link for it in id scale, uh different ways he he calculated the impact, feasibility or auditability uh kind of compared it to to cost versus benefits and try to look at it from a systemic view. Like you know, if I not just like looking at each proposal in itself, but as a as a batch, you know. So if I found these guys together, you know this would be the outcome.

A

uh So this is my voting pattern. Okay, and why am I sharing it it's here, so you can.

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It might be that you disagree with with with greg's analysis, it's actually very very likely, but um this is. This is withdrawing the time. We're throwing the the ball in your court and saying, like hey, voters start to share if you want to have influence so so this is even an influence for people who are even even a non, even if you're non-voter, if you or even if you you really wanted to vote, but for some technical reason it didn't didn't happen for you.

A

You can still get involved in the votes, you can still go and publish your own recommendation and you can publish it and you can spread it around the community. Okay. So uh I think that.

A

For voters to do that, let's say on the discord channel and you can also share it on the fan two chats and we might like highlight if everybody did some commendable work that you know, but but it's more like we don't have a position. You know we just want to inspire you to start to start to cohere and to start to think about the big strategic picture.

A

So we can generate really great decisions. You know not not just uh myopic, looking at one proposal at a time, but looking at the strategy looking at the challenge, looking at impact sharpening our tools: okay, the second, the second uh interesting, also mind-blowing, mind-blowing resource- and actually you know this link is like the link to end all links, because it's kind of got it got everything and well then I'm just going to share that is. Is the catalyst dashboard give me a second share that okay, so about an amazing?

A

What an amazing work by by daniel? um Basically, every piece of information has been collected and curated and put in an easily digestible format in in one document. So you can see you know all the active proposals, useful links, funding, details, everything about the treasury, you know you can you can see all the key timelines. You can see the different analysis and amounts general amounts in the treasury versus amount for a fund um yeah. I don't know it's.

A

This is like a amazing resource, so just go go and explore it and enjoy it and and share it. You know it has also all all the useful links um well commendable, commendable, work, great great work of leadership and- and you know, we're off the bat with amazing resources and tools.

A

You know this is this stuff is, uh I hope- and I hope dan is getting a lot of good kudos for this, because because this is going to have a lot of impact on the quality of decision making um for fun too and going forward all right. So let's go a bit more okay, so we know the timeline. We talked about many times, but the next key date is uh the end of voting okay. So you have lots of time.

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uh This was intentional. You have lots of time, so you have the opportunity to to change your mind. You have the opportunity to this to converse.

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You have the possibility to campaign, you have the possibility to reflect on this process and give us feedback and help us improve um what a good opportunity you know in the old world you know putting ballots out there uh is, is uh quite a you know: it's really expensive, so they're just like open for one day, but we have. We are lucky to work in the 21st century and we can have prolonged voting periods that involve careful discussion and thoughts.

A

All right, so for all of you out there, not locked out of voting for all sorts of reasons uh here is a useful link um to uh this is like the um on the bottom of the release notes. uh We listed some common issues and workarounds.

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So we encourage you to to go check that out and um and try it out. First, okay and if you're stuck, then you have a few courses. One is going to the first and foremost is like putting a ticket in zendesk for in the ihk, because this would help us track all the all the issues and be able to effectively address them for the next round and and then you also have the fun to chat that I mentioned before, to to to kind of for more, like immediate uh support.

A

um If, if, if for some reason, you lost your qr code, you didn't save a copy of it and you can't and you can't restore it or you know some other issue happened, uh but but you did complete your registration, then you know you're gonna get a small you're, still gonna get your voters reward. So at least the token of our appreciation, and- and yes, this is- this- is really important- stuff for us and and we're gonna. We're gonna continue to work and improve.

A

I'm gonna listen very carefully to everything you say and and learn and adapt all right, so some some general voting trivia and important important details.

A

So, first of all, when you, when you look at the ada prices on the proposals in the voters, dashboard, please take into account that the payout is actually adjusted to the time the proposals were finalized. When the proposals were finalized, the aid the price was 0.107.

A

Okay and now ada price is 0.16. So when you're looking at the ada prices, you need to, you need to consider that everything is is a much. It is a quite cheaper, like the proposals are way cheaper than you would think, because when you try to convert it to dollars like you know, if someone asks for a thousand either, you might think oh he's asking for 161 ada, but that's not true.

A

It's actually he's actually asking for 107, because that was the conversion rate at the finalization of his proposal and that's going to be the total amount of dollar like the the dollar, the the dollar value of the aid that is going to get.

A

So I know it's a bit of um it's hard to wrap your mind around it and it's confusing and bad ux. We. We know that and we're gonna make adjustments for next fund to to make it much more clear um and not make it so complicated so, but bear with us. So just just a bit of a clarification here all right. So let's talk about voting power.

A

So here you see a a voter which is a cat and it has 8 000 voting power. Okay, that's! What's what he shows is on the app dashboard, so the cat goes and he votes on proposal a yes, so you can see a proposal, a gets, 8, 000, plus votes.

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Then cat looks at proposal b and he votes. No, so a proposal gets minus 800, 8, 000 votes, so 8 000, no votes.

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Cat is hangs out. Does he get things, but then he changes his mind he wants to. He wants to vote something else he wants. He goes to. He goes in a different time in the future and goes and votes yes on proposal b, although he voted no, but before the voting period ended.

A

So this overwrites his his uh proposal from is, is voting from before so no more minus 800. Now it's plus 8 000, because that was his decision. Okay, that's his less decision and less decision counts. He didn't when, when he submitted that he didn't vote on proposal a so there, his decision at the proposal stands. It's still plus eight thousand.

A

And let's see okay, so so! Okay, now cat er still hangs out it's his food purse and meows etc. And then he again he decides he has a complete university he's changing his mind once again: okay votes, he actually decides to vote no on proposal a and yes and proposal will be in his last round of funding. So what happened? So his last decision was to give plus eight thousand, but now it's overwritten, and now it's minus eight thousand and this other proposal b. It was supposed to be like actually like yeah.

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Sorry, I'm again, I'm confusing. So his last decision was that it's plus eight thousand.

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And it and any, although he voted yes again, it just remains 8 000 once again. Okay, so hope that helps clarify the the logic of voting.

A

Another interesting feature for voting is that you can submit multiple votes at the same time, and I want to I'm gonna try to do a like a little pirated pirated version of like uh how to share that. Okay, so I'm gonna show you a little trick.

A

Okay, it's like I'm just gonna, randomly I'm gonna, just randomly choose a proposal not to think I'm biased or something okay, but okay. So you see here um here are the proposals. Let's say I'm like. I wanna make ada brand world recognized okay. So I vote I'm going to vote yes, okay, so now this vote is kind of like in my. I would call it like in my shopping cart, so it haven't been casted yet, but it's on my it's ready to be ready to be cast okay.

A

So so I can either go to my votes and I can cast and I can cast all the votes I have waiting or I cannot cast my votes. I can go back to the list of proposals and I can add more proposals.

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uh Okay, so so, then I can go to my votes and then I can cast all of them at once.

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Okay, that's the that's the general idea, uh so just a just a simple thing that can help you save some time. You don't have to click and cast every single time. You can choose everything. Yes, no, yes, no! Whatever cast it at once, save save some minutes and.

A

All right going back to the slides.

A

All right id scale is a great resource, and what do I mean so you can. Every proposal is linked to it's a descaled page and you can read all about the proposal in details like in the voting app. You see just a few kind of a summary of the proposal, but you can really read the details and really assess the proposal. This is what all the community advisors did and if you want to be really be make a really independent, knowledgeable choice, you should you should go and read the details.

A

Also at the bottom, at the bottom of it, you will see a summary of the assessments from the community advisors. They actually made a verbal explanation why they rate for their ratings under the summary of all their opinions, so you can read it read it there and lastly, there's a comment section, and this is an opportunity for you to directly talk to proposers. So you can you can on the comments in in a decal.

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You can you can ask them a question, you can ask them a clarification and you can have a discussion about the merit of the proposal.

A

So great great resource to use and and could be really useful for proposers and just a quick reminder and that you know, let's keep our let's keep keep our eyes on the ball.

A

Okay, so it's very easy to come and be very negative and critical and- and even you know, just give a unconstructive feedback, um but that that that undermines our long-term goals. Okay, we have we have here a team of team of proposers. I think the vast majority of them are been involved in this community for for many years, it's a work of of passion, and um you know they have other options. You know they can go like entrepreneurs and many many other accelerators and blockchains and other communities they can come and contribute to.

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We should respect and honor them uh for their efforts and respect their time and feedback is great, but it needs to be constructive feedback, something they can actually work with and improve, and rather than something that generates negative feelings and frustration and negativity, and then they would just make the logical choice, and I know I would you know if I would go to a place and everybody is insulting or or just being negative uh in a disproportional manner, or something like that.

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I would like to go somewhere else that will undermine what we want to get in terms of innovation and impact long term.

A

This is why my advice is for proposers is to be resilient and, if you see negativity this is this is this is not the the majority of people here are really really support. You just ignore the trolls and, of course, address uh address a substantial, important feedback, but don't let the negativity bring you down and and for and for voters and advisors. You know just just think about how can you contribute?

A

How can you give the feedback in a way that that gives people energy and gives people the ability to to improve and iterate and become better for the next round versus get lift their hands up in the air in frustration and want to not do that anymore?.

A

Okay, so many of you might have questions about. What's the impact score in the voting app? What is this like five-star rating, where it comes from so this is the this comes from the community advisor, so in the end, after some filtering we had 54 community advisors and and on average, each proposals got around 9.5 reviews, so so 9.5 community members on average gave a review for a proposal and the impact score is an aggregate of of everybody's scores and the way these chords are the way these scores are made.

A

Was we asked three criteria like impact like? If impact is whether the proposal effectively address the challenge, feasibility, the likelihood that it's actually going to get implemented with the plan proposed and auditability like? Was there enough information included to to even start to assess, okay and each one of these criteria? Those advisors gave a rank of between one, which is strongly disagree and five. That is, uh you, know, strongly agree.

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So it's important that so so, if you see someone that gets a let's say, you see a four-star rating in the voting app.

A

It means that some, some at least nine somewhere between you know at nine and a half uh community members on average, like reds with a proposal, gave a rationale behind it and are pretty much agree that it's impactful feasible and enough information was required. Okay and so um pay attention to that. It could be really useful for you and and and and also encourage you go to the id scale and read the rationale you don't have to just expect accept this score as a given- and this is just advice.

A

Let's say I want to talk about the reward algorithm just so you know just to have clarity as you vote and you think about this. Your voting strategy, what's the logic okay, so at the end of the voting- and this is this- is the results from our fund one simulation, and so this is the tally we made it wasn't with real ada, but you could you can see the you can see how things turned out, and this is a great way to explain to you how it worked. Okay, so we started with a 250k fund.

A

Okay, and we had this first proposal. uh We summed the total of yes votes, summed the total of no votes. uh You know so. The end in the balance is 140, 000, plus more plus than those like total votes. So this was the highest ranked proposal. Okay, so we deducted from the funds the amount that was requested and I'm sorry that it's like this is ada. This is dollar, so it's funded. Okay, then we look at the second on the list also funded. You know what they we still had. Budget left third funded great.

A

Fourth, one. Oh, oh, okay, what not funded, although it was pretty popular because the amount requested exceeded the amount available, so we skipped moving on okay. So next proposal great, you know a nice approval rating funded next one funded next. One here exceeded okay, so it's that that amount exceeds the amount available so skipped, okay, so, and so it goes, and so it goes until we go until we run out of until we round off the funds in the end.

A

So uh there is another threshold which mean that is that a proposal needs to get at least 15 percent. More yes, votes than no votes to even get approved. So so, for example, if someone asked for a hundred ada and but but he didn't get at least 15 more yes votes and no votes, then he will not get funded.

A

All right, so it's pretty much logical, so you know so, even if you, even if there's like enough money left, but um you know like, but there wasn't like sufficient amount of people who are like saying like: let's do it, it's not gonna get funded. Okay. I hope that helped a bit um moving on.

A

So giving us feedback. This is really important, because this is a really important part stage in this in this in the catalyst funds, because it's like the first release early release, the first public experiment, we're gonna, learn so much from you and we're gonna improve so much, but only if we get your feedback in somewhat in a structured way. So we can really process it and work with it.

A

So if there's a bug, technical issues issue a ticket in zendesk, if you have any future requests or you have ideas or you want to give broader feedback, you know about the entire process or you know something. That's not like a technical detail, there's a form and we just release it and please fill it up and we will we're actually gonna read through ev everybody's comment.

A

I'm gonna personally read through everybody's comment in the form and then we're gonna analyze it and then we're going to report back to you, our our findings, including priorities, and what we're going to do about it so use this use. This google form. I hope I hope you have someone that is sharing that link.

A

All right, one more question voting rewards all right, so we now we know the final um amount just giving you a very uh you know, rough estimate. So if you had 8 000 ada and the total stake so so now it's a bit more than five than half a billion right, it's uh a larger, so you will get a bit less than seven ada and and then, like the higher your the higher your the amount of ada you that that you registered with the higher the rewards.

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Okay- and this would be these words- are going to be distributed in early january.

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So that's it for me in terms of information and now I'm I'm here to answer any question.

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So I'm gonna stop this line so the way the way I do it is um I'm gonna look at the questions that you posted and I'm gonna look at the most voted ones and then read them in order.

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Okay, let's start with tai tai teo.

A

Isn't it strange if someone votes on all projects and his full voting power goes to each proposal that he voted for shouldn't his voting power for the proposal in that case, be full voting power divided by number of proposals you voted on. You want to know which proposals are actually backed by stakeholders, but you can't have them back all proposals in case there is more funding available, then total funds being asked for it is not an issue. Otherwise it is I'm not sure I mean um yeah.

A

I mean I'm trying to I'm trying to parse this question. I think it has. It has two parts. I think the first part is that you know there's this, that you. That is strangest to the fact that you can vote with your full voting power, and you know I would ask why what?

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Why is that you know this is just it's a system. It's a system that was uh developed by a research team, and you know it's kind of proven to be pretty good and pretty resilient.

A

This is why we started with I can I can definitely if anybody wants me to go kind of like into the deep details about this specific system versus other systems and what's the rationale, I can just not not quite right now, okay, after this marathon, this product marathon to release, um I do think that uh I do think that the system allows a pretty straightforward. You know uh you know we're actually, basically just asking you this. Okay, do you want this? Do you think this is worth it to get funded?

A

If you think it is say? Yes, if you really don't want say no, if you're not sure, don't abstain, let other people this. Let other people decide that that logic uh holds. I hope that helped clarify the bit, but I mean I think you're right, I mean I'll I'll do next year. I'll take some time and I'll really explain in detail the the rationale, because I know I know you're. I know you're all curious about all these million small decisions, and so I'm gonna, I'm gonna, share more.

A

Will iog be creating some sort of dashboard to allow us? Allow us to see the voting results as they change a live scoreboard would be wicked awesome. So the answer for this is no. We will not be creating this dashboard.

A

The reason is that going forward we're going to implement voting privacy and the way that voting privacy works is that that there it's actually like a really long, complicated computation that can only be done um at the end of the at the end of voting.

A

So uh I think another. You know, I think, there's other issues about how when you have life scores, it actually influences the outcome. You know it means that, like let's say, people are organized at the start and, like you know, put a lot of votes on a certain thing that can influence like other people's decisions over time and actually have everything shown at once uh can lead to better decision making overall.

A

So these are the two rationales, so there's like a technical constraint and and there's a kind of a strategy for better decision making and wanting to keep everybody a bit more neutral hope that answers it.

A

Okay, reyson is asking I did already vote now. I would like to know if a new voting overrides all my previous votes. I did, or only the ones that are different from my first votes.

A

Okay, so um okay, so I showed so. I showed it in the in the cat illustrations from before. So basically it will only override uh the things you already did so so like. If you um I don't know, maybe I should get get this get these sides again. I I mean I mean I think everybody followed. I hope it was answered but but like if you voted yes on something and now you are, you know you're changing your vote.

A

You know your. What would change if you didn't vote on something and now you're gonna make a first vote on it, that you know that's fine. If uh and and and every and and and like uh every new vote cast. You know it's not like deletes everything else he did before we. We keep track of the last state of all your votes from before.

A

So I hope. I hope that I hope that clarifies uh that reason and- and you can look at the the slides I did before.

A

About voting power nick nick is asking. I like nick nicole asks great questions about voting power makes it a difference in voting power. When I select one or five projects. Must I vote on every proposal.

A

Can I change my votes after confirmation? Okay, um no like like. Basically so does it make a difference if you vote on one or five uh in terms of voting power? No, you, you vote equal equal amounts, okay or you're you're.

A

It's like a greg, gregor greg gave a great analogy in the fun to chat and he said like it's like you have a gun and you're. Sorry for the. I use cats because I thought the gun was a bit valid, but it's pretty effective so for gamers. Okay, so imagine you have a gun and your gun has a force of a hundred.

A

You know don't think about it like uh like it's the amount of bullets, it's just like the amount of power. So every time you cast a vote, it's like you, you use all your power, and um so I hope that helps.

A

Must I vote on every proposal? No, you don't. Actually, we encourage you to just vote on proposals. You feel good about okay, so even if you feel convinced about yes or no vote, yes or no, if you're not convinced leave it to him, maybe if you're, um if you have a trusted expert that you really you know you, you really appreciate his uh opinion and he's. He says he votes. Yes and you like uh you know, you trust him, then go ahead. You know uh that's okay, like it's!

A

It's not uh realistic that to expect each and every voter to go in detail on 78 proposals, and it is just going to get more actually in funds3, etc. So, but, but I do encourage you to feel either confident on your vote or confident in this other person's opinion and if you're not abstain, can I change my vote after confirmation? Yes, you can you can change your vote as many times as you like. We will only take into account the last your last decision.

A

How does it work if I want richard asking? How does it work if I want to vote on more proposals?

A

Yeah, you just click on any proposal as you want and you submit them.

A

All right, I tell, can we stop using the left bottom corner for placing text in presentations?

A

Yes, I'm sorry about that. I need to I'm just a bit fatigued. I mean I'll, take I'll, take better care, starting next town hall to to guard that uh that left bottom corner.

A

You know, I also want you know, I'm just gonna, I'm gonna show you on the chat, the actual slides just so everybody can track those and hear them.

A

Also please, in the ui, when you go back from looking at an item.

A

Sorry, I'm like the list is changing in front of my face. Okay, also, please, in the ui, when you go back from looking at an item, go back to the same place in the list, not the top.

A

That's a great comment mike uh use the feedback form uh to put it in and I can really process it. You know I'm gonna, I'm gonna quickly,.

A

I'm gonna quickly share the form, so you can just do it.

A

A

Drag it here on the.

A

A

Hey maria, do you want to speak? I can see your chat message. If there's anybody who really wants to um want to come up to the stage you're you're welcome to just use your wave wavy hand icon in the meantime I'll. In the meantime, I'm gonna continue to answer questions.

A

Okay, crypto prime. Basically, he has a long. He described the situation where he basically registered twice, but I think he only has the qr code for his first registration.

A

So, unfortunately- and I think that, like uh issue that I think a few people were are having is that you know you register multiple times, but we only count the last registration you made, you know per wallet, so uh I'm afraid you can't help you. If you only remember your first registration, I I can't help.

A

Okay, can we get maria.

A

A

um Okay, yeah I'm getting into like all right.

A

A

I can't hear you.

A

A

A

You want to hold this time. Oh we got it.

A

Oh, we lost you.

A

A

Okay, well I'll try to get one more one, more question: where we're setting up.

A

Where voting rewards will go so there will be, they will be sent back to you. So so we're looking at we're looking at the data in your uh in your registration transaction and we're going to send it to that back to that.

A

A

uh You can upvote and downvote joko asking yes, you can vote, you can vote and you can up vote and downvote.

A

Cool evan, I see you, I hope you, I hope you managed to get on on air um and then mitchell valentin is asking, I think, a good follow-up question. What motivates someone to do that like vote against the proposal, and so the the reason is that you, you know, you don't think that it addresses the challenge uh or do you think you know, and and and you don't want these funds to be used to fund this proposal when there's other funds that can be better used.

A

So so this is like a way for you to give your give your.

A

A

Hello, I see we have a.

A

We have a commercial. What is this tell us more.

A

A

We're not getting we're not getting any sound from.

A

B

A

Okay, but I think I think, um okay, we try one more one: let's try one more person, let's try ivan and if, if he doesn't, if he's muted, then then some kind of a technical issue.

A

C

C

Do you hear me, we got the connection, oh cool, maybe it's a browser problem. I got a notification to allow my microphone for the mozilla, so maybe that's the problem for others.

C

What I would like to ask when we use the voting app, um there's no possibility to check uh whether are voting uh sent to the blockchain or is it was it successful? You know we don't have any transaction id or something where we can check that our voting went to the blockchain. So what if we had a wi-fi problem or the mobile phone problem- or let's say I can't recall- oh did I vote yes or no to descend that project.

C

So I cannot check what did I vote so maybe I can correct in the last minute or something.

A

Yeah yeah, that's like that's a that's a great point. uh Okay, so it's actually two things right. One is confirming my. My vote has been uh registered correctly, and that is a it's a feature. We just didn't we're not able to develop uh for fun too, but uh we're definitely we're gonna, be definitely going to give you that ability and on future funds. Okay. So it's already on the plan. We just didn't.

A

C

A

It's gonna be really important uh once the voting privacy is is uh in place, and you know even we can't know you know.

C

Yeah, I see it's it's a development idea. If I put this in the development idea box and the other one, the.

A

One okay, so the second question is like: can I have kind of like a history of all that so so here we are a bit undecided, because when you look at the pros and cons so so, of course, history is more having this history is more convenient.

A

The problem is, is that it opens the door for uh bribery for bro, so right now we're being a bit on the defensive end and we're saying like okay, we're not gonna, make it easy for people to they make it really really easy to to bribe people. Okay, people prove that they voted a certain way, ah but it's gonna kind of an open question, because this is a very uh it's a featured feature that a lot of people have been requesting us like from fun zero found. One like everybody wants this feature.

A

It makes your life more convenient, so we're still weighing on the we're still waiting on the pros and cons of of of doing it, and- and uh you know I can- I can only say that you know we're gonna, we'll we'll try to make it more kind of like an open discussion with the community, uh but we really need to weigh in convenience versus corruption. You know.

C

Of course, of course,.

A

C

In eastern europe, so I'm an anti-bribery man so and the other thing there are these little info um labels or something when you know at the voting power or at the rewards, there is a little icon for having some info, so uh would that be possible to have something dynamic text there to see what is normal or what is not normal? Let's say my voting power is zero. I click on the I icon and it says your voting power is zero.

C

It's normal because the voting didn't start yet, and your voting power will be visible and this and that time or your voting power is zero. It's not normal. You should do this and that.

A

That's a wonderful idea, yeah. I think I think we should share kind of like the state of the app you know. Yeah.

C

You have something like this yeah. I don't.

A

Call it in the info box, but I I agree.

A

That's going to be very useful, that's a really important advice, good feedback, we'll think about you know we'll we'll start to start the process that I like people like it. A lot.

C

Of course it's it's actually a lot of information and the telegram channel was really helpful, but it's really annoying when 500 people at the same time ask the same question. So it would be nice if you would have something in within the app that's relax kind of panic.

C

Everything is normal.

A

C

A

Little I'm totally with you, we will get there, we will get it, you know we'll do it one iteration at a time and and we'll get there. Thank you. Thank you. So much great great speed with you, anytime.

A

Okay, I think maria wanted another go.

A

B

Can you hear me.

A

Yeah hi nice to see you again.

B

Nice to see you as well um yeah hi door, hi anna thanks for having me on hi community um yeah. This shouldn't take too long. uh I've just got two quick things um to share I'll. Just quickly share my screen here.

B

The first one is uh here: we go yeah um yeah, I've got a thing over my screen. um I don't know whether you guys uh click the close message hover over okay, cool um yeah, so yeah. I just wanted to sort of uh highlight two things. um So a today was uh on the 10th of december.

B

So a few days back, uh one of the community members, uh quasa, basically sort of you, know arranged this thing. um This idea to to have the community come together and uh celebrate. Basically, you know um ada lovelace on her birthday uh and really the intersection of creativity and computation, um and obviously you know crypto, you know, uh plays uh quite an important part um nowadays of computation and also being able to create um really sort of like rich, um unique stuff.

B

um Yes, koiz is a hero um really unique stuff um in the digital space right. So basically, um you know it is an idea to sort of celebrate um this particular intersection, and uh some really interesting ideas were actually discussed. uh One of them um that came from this particular day uh was, you know, potentially having something like a prize which could go out every month um for a community member who has like a novel sort of exploration um within the community.

B

uh You know also creativity and computation. You know so like an enterprise kind of thing, um so.

A

Can you give a that sounds great like what like? What would you like previously, let's say, looking back in on on fan 2 like was there like any example of someone you think would have been eligible for for a reward, uh but you know just an example: not not. This is the most, but like one person that might be a good candidate, just just just I can wrap my head around the idea.

B

The idea, um to be honest, like nothing like jumps out immediately, and I don't know you know what I think um I think it's possibly because of the nature of uh you- know, approach of attracting developers and uh and entrepreneurs.

B

I feel maybe the challenge in and of itself sort of um excluded people uh who would, alternatively, sort of you know, come, and you know so bring something really just like weird um to the table, but a quick example that actually comes to mind, which is not in front. Two is uh imogen.

B

Heap right, she's, a she's, a musician and uh she really uh she's an interesting musician who lives at the sort of intersection of like sort of arty, interesting pop, but also technology.

B

So she created these gloves, which you're able to like uh use um which have like sensors along the along the finger um for like tension and stuff and she's, basically able to like play a musical instrument by like gestures and stuff um so like, if someone say, for example, in front of two whatever was to come along and do something like that, which I don't know was somehow tied into um into like a cryptographically, um unique event which you know someone could you know like an audience, could just sort of like come to it and experience that I don't know.

B

That's, maybe you know a bit too um to out there, but something like that. Just something weird and novel and interesting. In the same way, almost.

A

Like an arts, so it's like, I think, there's like it could be like kind of like an arts grant. It could also be like a challenge kind of exactly. It also could be like celebrating uh important contribution by a community member that kind of falls between the seats kind of thing, so it could be. We go some a few a few ways, but I really like the direction, and I really I would encourage you to.

A

I think I think we from the chat, I think, there's like a lot of um kind of like agreements and good energy. So maybe maybe um you can meet up with some people on discord and you can formulate that as the challenge proposal for to be voted on for fund three.

B

Yeah, um if, if possible, um uh quasa, could you put in the the the link for the discord um in the chat? um Whilst was this sort of conversation takes place? um Yeah? Sorry, don't you you're saying.

A

That's it that's.

B

All I said: okay, cool um thanks uh yeah, so thanks community, uh you know following me to actually to share that. uh The second quick thing I wanted to to highlight um is catalyst, so um this here is um a program on cast.live so cast alive. Obviously, is um you know on uh on fund too? uh The idea is to eventually you know.

B

Have you know this uh play um a pivotal role in terms of you know, having a high bandwidth, low, latency uh channel for communities uh for community conversation right, so we're gonna have all sorts of programs on there and um so catalyst. Actually, you know it is one of the sort of early ones. Ada actually happened on on. um We had a stream live, and uh that happened on um on uh on cast.live um and so so with uh with catalyst. What I'm actually doing here is I'm inviting folks who have you know.

B

Well um primarily people interested in fund three or even you know, um other funds moving forward uh to have a conversation um with me to basically, um you know, come on and be featured in terms of um addressing the current week's challenge so to speak. So, for example, you know in week uh one you know that is just to pitch the idea you know so come on. uh You know, spend a few minutes, uh I'm thinking maybe 10 minutes or so uh you know, having you know, just a vocalization of it.

B

You know so that the community can actually see the um the proposal. um You know so then pitching the idea get a sense of it and obviously the idea um in week one is probably going to be quite different. You know once we get to like week, six right as the challenges evolve and continue what's really great about. This is one thing that I've noticed from font.

B

Two is there's so much information especially say the way it's currently presented on um on idea, scale, and so what's great about this- is that it creates this kind of um this high again high bandwidth, low latency environment, where people can just kind of follow these projects uh and again I'm sort of quite ambitious with this. Is you know, even if you have like a hundred um proposals, I'm looking to actually you know squeeze all of those people in you know to week. One and you know, try and get all of them.

B

You know, do the little bit and and come on and and do that.

A

I think this is this is the right time like if, if you want to be ambitious uh in terms of like you really want to introduce something new to the community, a new medium and a new process to you know, make sense and make decisions etc. This is right. Now is exactly the right time to do so. Not now it's easy now. Now the you know everything I feel like uh you know the dashboard that was made the the the the expert ballots.

A

um You know this kind of achievements like the discord. What what you're proposing like these are? All might you know we might look at them a year from now you know and when the fund is like fully fully grown in the communities like tens of thousands of people etc, and we will look at them as foundational pieces, uh so you know people who really want to to try out these things and experiment, and of course you know, some of these things are not going to work and some are going to be really successful.

A

This is like the best time to try so like I really commend you for bringing that up. Yeah yeah your initiative.

B

Known yeah, yeah, yeah, yeah um yeah, thank you yeah, so um guys, yeah come over I'll. Actually I'll put it in the uh in the chat, the that's the link, so it's cast with three a's um because with one a was way too expensive um for slash catalyst uh and yeah. So if you actually click on the the request button, uh it pre-populates an email um with a structure. You know in there that actually helps.

B

You basically um send me the message kind of thing and communicate um the breakdown of the idea so yeah without further um sort of going on uh yeah. I just want to thank your door and uh yeah. Thank you. Community and anna.

A

Hooray. Thank you so much. Okay, maria we're gonna try.

A

A

We're not we're not.

A

Still having audio issues here, it's too bad because I feel, like you, have something really important to say.

A

Oh man, okay, so you can you can kind of try different things I'll try to try to see if there's more questions as you.

B

A

A

uh How and when are the end results of the voting shared with the public so once the once, the results have been tallied, we're publishing in them on a on a pdf and spreading them in the community and then we're um and then they'll also be archived on uh on dedicated page in d scale, along with all the all the documentation that makes it auditable, and I think that over time it will be easier and easier to to audit everything. But you know so it's a start.

A

You know you just have the you'll have all the raw data and, like all the documents, and you can with some effort you can track uh and over time you know, we'll will make it progressively easier.

A

uh Is it possible to combine the voting power of multiple wallets into a single voter in registration? Slash power? Not yet not yet at some point I I believe it will be. We will we will we will. We will enable that feature, but it will uh you know it's going to take some time.

A

What you can do right now is. If you have multiple mobile phones, you can scan the qr code on both and from from different wallets and then vote or, if you're really really feeling ambitious and experimental. You can install them a fresh mobile, a fresh catalyst, voting scan the qr code, submit your votes, uninstall install again scan the second qr code, etc.

A

How can one change down vote or upvote into abstain? Instead?

A

You cannot. You cannot at this at this point of time, sounds like a feature request to me.

A

uh I actually cr curious to see how many of you uh you know, find yourself in this position that you were like wanted to vote yes or no, and then you wanted to vote to abstain, because if it's, if it's something you really want- and you know and it repeats itself often you know we can. We can prioritize such a feature if it's really rare there might be other features that can that that might be more valuable to to release earlier.

A

How will voting okay, kaylee with kyle kayleigh, uh with with a really great question? How will voting get promoted? Will there be more marketing surrounding this? I have found limited articles, low number of attendance at town hall and hardly any posts about the importance and rewards of partaking in the project.

A

How do you expect this will affect the decisions on funding? Okay, so, um first of all, yeah we're gonna uh catalyst, crew itself. You know we're gonna continue to to to market to market voting. Right now, the we're mostly for for fund zero fund. One fund- two, you know the real the focus was on on the on the really hyper like like really involved.

A

You know really like champions and people that were super attracted to the project in the first place and because we're still in a you know, as you can see, with fun too, it's still a bit we're still rough around the edges, we're still changing and and iterating really fast, and every every round is very different from the other.

A

uh So I would say that right now um you know going into like the let's say, like the outer edges of of of cardano participants was not feasible, but it we're gonna, do it more and more increasingly so we're gonna we're gonna, grow and expand, and I think this is gonna be a a shared effort.

A

I think we're gonna have some we're gonna, promote we're going to promote voting and, most importantly, we're going to funnel as many people into the catalyst announcements and id scale where once they register there they're going they're getting notifications and communications from us. So um you know- and we already got 4 000 people in a very short amount of time. So I think it's I think it's it's working.

A

It just takes time and I think a second element of this is actually the community itself and I think um I see it is into and that secondary thing I have seen manifesting in two ways. One is more um more of the communicators and leaders of the community and ambassadors and facilitators and moderators, like you, know, uh spreading and creating content to increase and and in ways that our team will not be as capable as as I think, the community, and I think another thing we can think about it.

A

If, if we want uh to promote voting as a community and it's important for us, we can create a challenge. So you can, you can come and propose a challenge that the challenge is. How can we get? Let's say uh you know, 90 of of all ada holders to participate in in voting and then people can can can we can.

A

We can assign a you, can propose some budget to allocate for that, and then people and you can submit it for fund three and then, if the community find that the priority they would vote in and then in front, four people can propose specific projects that their intent is just to increase engagement, for example. So you have a you: have a venue, like the community, has a venue to get this. Get this to happen so front. Four will have quarter million dollars just allocated for a bottom-up community challenges?

A

um Okay, and I think a secondary part of this question is how do you expect this will affect the decisions on funding? So I think right now, the surprisingly. I think that uh building kind of slow and steady and making sure that uh we onboard as many people as reasonable and not go overboard is actually really good, because we're building a solid foundation, I don't think we could have.

A

We fan two wouldn't have been the success. It was if it weren't for fund one and if, if there wasn't this uh emerging leadership, that was that that that came to be in fund one and were there to guide guide and help the community going going forward as we're dealing with this complexity, and it's just going to continue like for fund three, you know we have all the people from front two and also the people from fond du one are now went to fund one and fun.

A

Two, I'm not even talking about the people from fan zero. There are only five of them, but but they're really, like uh you know, it's like a new. It's like we're. Teaching people like a new, only skill set a whole new way of working together and it takes a lot of time to um to gain these capabilities and gain this understanding and knowledge. So um you know it will come in waves and the what's really fun about this.

A

Is that at some point you know we'll get to you know when I don't know it's fun, nine or four ten, or something like that.

A

It will it will become so it in one hand it will be so awesome and so big, but also for people from the outside. They would realize where it's, where it's coming from, how how did this? How did this, where this?

A

Where did this come from, like we're completely flying under the radar right now and- uh and I think, that's actually good- that that allows us to you- know we're like in a little, you know decentralized, innovation, revolutionary thing and we're getting the people getting their coordination, changing our minds and changing our awareness and realizing what's what's possible and when we're like fully in capacity, you know we're gonna storm out out. You know storm right into the world of crypto, and people will just don't don't understand where it's coming from. They will be completely bedazzled.

A

That's my anyway! That's my perspective.

A

A

A

A

Planet, stick is asking what happens if somebody votes with a balance of one million ada, but that sends a half a million data to a different wallet they own. So it depends when they sent it. If they, if they sent it before the snapshot, then they only have half a million if they sent it after the snapshot. The voting power would be one.

A

Million or what happens when you send okay, juan, really important question door? What happens when you send the votes to the blockchain when you cast your votes? Is there documentation with this information?

A

So I can tell you the you know in in a plain way. I can. I can say that it's uh those those words get registered on the german gander, blockchain like the same blockchain that powered the the itn, um the um I think we're lacking documentation. I think this is actually a really important part like we really need to uh document this exactly and we're also been working on uh kind of like upgrading the itn explorers to work with the the updated german gander.

A

So these are ongoing things and they will be available, but I think I think what what you're saying the need for a really clear technical documentation is a really important request and and I'll try to I'll try to prioritize it. Thank you for thank you for bringing it up.

A

Hence vb asks if you vote yes on our project. It basically counts, as if you hadn't voted correct, not correct. If you vote yes on all projects, um you know your your voting. Power is kind of like driving.

A

You know a yes on a yes and all all projects and- and I think it mathematically- I think it would have an impact. uh You know in case that other people, some people- vote no and like. I think it would have some effect.

A

I believe maybe I'm wrong. I'm sorry, I'm just tired, um but I think I think it's. I think it's okay I'll think about it.

A

More, I think the voting system just needs some documentation. People are going to make these as sexy people are confused on how many votes to cast and what the up and down truly mean uh yeah agreed agreed. I think the important thing is like go to the feedback form and propose some ideas about how to better, communicate and, what's most important like indicate.

A

What's the specific information that's being missing and we will try to, we will try to enhance that over time the documentation, but I think a lot of it is about the information in inside the app itself. So we're we're definitely been.

A

You know the difference between fun, zero and one and two is very noticeable, but you know there's still lots of things to lots of issues and confusion. So just keep on keep on give us our feedback, your feedback.

A

A

um Okay, I'm gonna answer one last question and then then I'm gonna close out for today.

A

A

Do unfunded projects roll to the next funding round like the largest projects that were popular, but no funds were left; no, they were not. They were not they're not going to automatically roll roll, um their their proposer needs to manually resubmit them, and I would say that I would really really encourage people to do that. I think that I think we are.

A

The key here is we're playing the the long game? Okay, so the long game means it's it's actually. It ends it's about people and then it's about people and it's about which people do you want to work with? Okay, which people do you trust, and I think that I mean for me, I mean my opinion is like I want to work with, and I trust people who learn who know how to listen and people who take feedback and and improve and address, address things and and that you can see them.

A

You can see their growth and- and I think, for I think, for a lot of proposals that, for example, will not get voted on on fan 2. This is actually a great opportunity them to to display that characteristic and actually like look at the look at what the community advisors were saying. Look at what the voters were saying, um have conversations and then adapt the proposal for the next funding round and I think we're we're going to notice it.

A

You know we're going to notice how things are rapid, like like, like proposing teams and proposers like rapidly changing and improving and.

A

And they will and they will get the trust and votes of the community over time way way more than like, let's say people who waiting for funds. You know fund aids to to to to start this cycle and.

A

So that's about me that that that's about it for me for today. Thank you so much and good luck, making good choices. Good luck, reflecting on! What's what's going on in your in your system when you're making these choices?

A

If they're missing information, you know, if was like what would make you the most capable decider and what kind of action can you make to improve our collective intelligence and improve the processes and the tools we're using?

A

uh Think about that? That's gonna be as valuable as as the actual decisions and and really good good luck, everybody! I can't can't wait to see, what's going to be the outcome and and tell me also how it feels to be to be an empowered voter in cardano for the first time see you see you next year here in 2021.