Input Output (IOHK) Project Catalyst, 8 Oct 2020

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From YouTube: Project Catalyst Fund2: Weekly town hall and Q&A #4 - October 2020

Description

During this Townhall we take a deep dive into how proposal assessment is done by community advisors, talk about idea analytics, share a report on Fund1, and discuss the next steps.

Town Hall Agenda:

Fund1 closing report
Week3 in review
Idea analytics
Community advisor process and incentives
Lean methodology in Catalyst
Lean methodology with proposals
Open discussion: How to decide which proposals to fund?

Links from the presentation:

PROJECT CATALYST FEEDBACK GUIDE: https://docs.google.com/document/d/1Fr3a6dU1kPGY_YlGcCehDSYDGECxxKZydrpi87IR50Q/edit#

Blockchain for social good
Supporting the United Nations Social Development Goals: https://cardano.ideascale.com/a/campaign-home/25693
Sign up with your team:
https://wyohackathon2020.devpost.com/
WyoHackathon Discord:
https://discord.com/invite/7NPNddE
Submission: https://cardano.ideascale.com/a/campaign-home/25693

Seek tags in IdeaScale: https://cardano.ideascale.com/a/ideas/popular_tags/campaign-filter/byids/campaigns/25652/stage/unspecified
Discord channel: https://discord.com/invite/aKcVQgM
Idea analytics: https://docs.google.com/spreadsheets/d/1r-FbkJXdBLhdC20Mnz065mdtiZgeOrwjvpbae2hwdKc/edit?usp=sharing

A

Hello, everybody, I assume everybody can hear me well.

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Door, okay, steve: I I see you.

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All right well great, well welcome to our welcome to our fourth town hall, exciting times. um Let me share my share my slides. I have some exciting news today, thanks thanks yeah, it's a new.

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Okay, great okay, we have a, we have a full full house here and a very busy town hall with lots of information as usual.

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uh Let's begin with a summary for those, for those who are, you know, don't have the time to watch a you know one hour plus video. So these are the meaningful things uh for this week, so we started registration for community advisors that would start um probably at around noon uh central pacific time. So that's in about two hours, so you can go to id scale after that log into this scale and you there will be a form that will pop up and then you can register to become a community advisor.

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A community advisor is a person um that that reviews, uh proposals and we're gonna talk about it later today. The second thing is that we're still in the refinement stage, so please continue to give constructive feedback to proposers.

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uh There's a link here to a guide. I hope I hope anastasia shares it on the chat or in the link area, to give you some tips and tricks uh how to give constructive feedback and, lastly, the the unchallenged launch. We already have six proposals already submitted and there's three days left to to register. It doesn't mean you need to make a final submission, but you need to register so again follow the link to start and participate uh really important that you register not just submit on id scale all right.

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So as usual, I want to welcome you to the experiment and and and once again warn you that things will break, or sometimes the documentation may be lacking or there's going to be a lot of difference between the iterations and generally a bit. Disorienting overload and inspiration is the known side effect participating in the catalyst funds, but we're here for you to give you a safe environment to explore the highest potential of human collaboration.

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So I wanted to start by talking a bit more and a bit more about the difference between how these funds go and like well, basically, all other funds and grant programs and proposal selection programs that have existed before.

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The reason is that we all grew up in a you know in a certain environment, certain conditions- and we tend to take all these old assumptions with us. Even when we go to new things, I'm sure that all of you, as kind of blockchain, early adopters and basically like really innovative and far thinking people. You know you, you see that all the time.

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You know that you start to talk with people about the new technology or about some new possibility, and they they get stuck in like an old mindset and, of course this happens to all of us every time. There's something really new and innovative, and- and I just wanted to try to you know, continue to push you and shake you.

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You know to to to really understand that it's about adopting a new mindset- it's not just about the tools it's about in different mindsets, uh of how to go about things, and you know, and if we do, if we do the same old things, we're gonna have the same old results.

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If we're gonna do new innovative things, we're gonna have new innovative results. You know we might become uh extremely successful.

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You know we might also crash and burn that's part of the experiment, but we know we're going to we're going to learn and evolve. That's for sure. uh So, first of all, um you know when you're in a in a regular company, it's very hard to pivot, and you you know you ca and it's always in companies have a hard time doing like both exploring things like launching new ideas.

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Innovation programs actually like about 75 percent of innovation programs in companies, fail because they can't at the same time um you know, maintain their old users like maintain their old old, like ways to drive profit, there's, always a conflict between maintenance and innovation.

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Trying new things, maintaining odd things, and also you know it's very hard to you know: hiring people is a very slow hard process and firing people is even even even harder and riskier, and also because of this you know because we're talking about giant behemoths, you know it's, you know in order to try something new, you need to spend a lot of energy to build consensus across the company across different departments in order to just get moving.

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So this is not the case here. You know we can launch hundreds of experiments a year, so hundreds of experiments and each experiment can pivot. You know uh you know dozens of times a year, so it's like kind of like two levels of magnitude and more ability to innovate and experiment than than a regular company.

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When you explore you can explore without cuffs, you don't need to maintain the old thing. You can try something new and you can go for it when you know in we can mobilize thousands of people in weeks and also people can quickly switch teams, switch commitments and find new opportunities find new roles.

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uh All these things can can happen like almost instantly. um This is very, very different from a company and, lastly, and most importantly, we don't need consensus. Like uh you know, in order for you to go and achieve results, you don't need anybody's permission like okay, like obviously you need some for some things. You need funding. I think for a lot of things. You don't need funding, but if you bring results, you will get the votes.

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Okay right, if you can prove if you can prove that an approach is working, uh you're, basically risking it and it puts, puts you in a major advantage compared to people who just have an idea. So you don't need to wait for consensus. You that you can let the results speak for themselves, and- and you will see over time- and you know as we as we learn to use this new new method.

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uh You will see that those proposers who who obtain results obtain metrics are aligned with the challenge, are going to consistently get get funding and their project will grow over time.

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A second thing is about: let's call it fragmented with versus collective production, so we're doing what we're doing together is collective production. Why? Why are we doing? Why is it called collective production because um we're bonded by by ada we're bonded? By the token you know it's a win-win situation. One wins we all win. You know we get. We we take take this challenge and success.

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It's everybody's success so um most of the system you're used to are fragmented individualized systems where, for example, in the world of science, you have teams applying for a grant and they are competing for the grant or you have a governments.

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You know issuing a call for proposals and then people compete with their proposals, etc, etc, including like vc funding, so but there's a rivalrous conditions.

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uh We know it's a zero-sum game, everybody's competing for this spot of pot of money and uh if you lose you lose and uh and that that's actually creates really negative conditions for for success um here. This is this is like an anti-rivalry situation. It's like um the more outcome we get as a collective, the better it is for everyone, and we can also like unite and merge proposals and switch teams, and we have a lot more a lot more flexibility uh regarding the ways we can.

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We can collaborate and do things together so in fragmented systems. You know you have these like secret submissions, so you you submit it to to some box, and you know it's a secret box and there's like some reviewer somewhere secret reviewer gives it a score and that's it and catalyst. The submissions are open, and that means that we can have coordination.

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So that means that for us, the voters, the community like from the start to the end, you know we can see uh how much money different different proposals are asking for. We can see what plans are we can. We can really see the big picture and and figure out, what's like the best compositions of different proposals that can help us achieve our challenge, and that is, uh and also the proposals can react in real time, as, as you know, as these patterns emerge and pivot their project accordingly. This is why we have this really long.

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This is why the submission was only one week, but the whole process after it is continuous.

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So, as we said, one team, so if fragmented has one team, one role in the catalyst funds you can have, you can have multiple roles. You don't have to put all your eggs in in one basket. You can be. You can make several proposals, you can be a co-proposer, you can be an implementer in multiple things and you know you can you can have you can see how you bring different value to different proposals, there's like a lot more uh flexibility there and a lot more opportunity um with fragmented systems.

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You know your first submission is the final submission, and here we can have a tight feedback loop with community. We see it already happening. We see already people change and edit and modify the proposals according to the feedback, not enough, but we're getting we're starting to realize it we're starting to understand our own strengths with the fragmented system.

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You know you, you know you want funding, then a good luck. You know see you like you file reports, and you know good luck with producing outcomes in the funds, we're making effort that all the teams after they get funded, that they're still working together, coordinating together supporting each other. So we will have this cohort.

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You know that will receive the advice and guidance and peer review and- and it's you know just going to just going to continue going to build an amazing network of of entrepreneurs, of developers of implementers of teachers of community managers of marketers, like all the different roles and they're all going to have a chance to really work together and see if we get a different outcome, a much better outcome than a fragmented solution, and I believe we can.

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Oh I'm missing a.

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I'm missing an image here on the slide, so I wanted to talk about lean methodology and you know what I'm just gonna, I'm gonna pop up the image.

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One second: sorry about that.

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Sorry one minute break, but I bring up the missing figure. Sorry about.

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Okay, can everybody see my slides right.

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Yes, okay, all right! Sorry about that, I think I think I did like an undo right before I put this slides up. um So the lean methodology is a methodology used mostly by by startups, um and the idea is how do you validate a business hypothesis quickly?

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And so so that's why it's called like a lean approach. So you do just the the minimal bible thing to to get to product market fit and, and so product market fit is, is when you address a real need in the market and you satisfy it and you're so much better than the competition that you know. You get like a very high adoption and very very high rate of growth.

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So that's the whole point and and of course we're using the lean methodology in catalyst itself as we go, so we iterate, so we we're launching experiments and we're measuring tracking the results of the experiments, and then we iterate more and more and more until you know it's in in continuous process of improvement and validation, and I wanted to take a moment to encourage proposals to adopt a similar approach.

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So you start by making your hypothesis explicit, so you can say you know, I believe I can get a hundred developers on my whatever like teaching platform.

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uh You know, if you know by you know doing x, y z and then you do xyz. uh You know you create an mvp experiment, so so that means that you don't need to code everything. Sometimes you can create in a day you can create a landing page uh to, um for example, to example, to examine the value of your idea and find validation in the market.

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uh You can pick up a phone and call people and see and seek validation. There's like a lot of ways to validate hypothesis without needing to build the whole thing. uh Then you can plan ahead.

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um How are you going to measure success so, as you said, like let's say, tracking 50 developers in x amount of time you share what you learned and- and here again we. This is again part of this, like anti-rivalrous thing. So if we all uh lunch, experiments together and and then report back the success, the lack of success and share what we learn- and you know instead of learning um you know in the pace of of like you- know, one experiment uh per team. You know we can.

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We can learn in a pace of like 100 experiments per team because the learning is shared, and so what does it mean for us? It means that I want to encourage you to plan with your proposals. You can make them much more leaner and smaller, and then we can release much more experiments if we just plan for one cycle. So what's the what's the initial validation?

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What's the minimal amount of effort that needs to create in in in initial validation in the market, and then once you get validation, then you have significant advantage over proposals that are merely an idea.

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So this can be an amazing strategy for you individually for as a proposal as an end as a collective strategy that if we all adopt this strategy, we're going to learn and improve much much faster, much more efficiently.

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So next I want to talk about the end of fund one, so um we finished it with a with a self-assessment.

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uh Feedback form where, basically, all the like, we invited all the fun participants to come in and tell us uh how was their experience. So this is a this is the single most important feedback process, because this is also our let's say our escape hatch right, our um our rejection, a rejection mechanism.

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So, if there's a point in the future, for example, where a catalyst project is no longer aligned with the community, so people think it's most of the community thinks it's not fair or it's or stop being impactful, or it's not usable and you're, the community of the power to stop the process by by giving us this uh this feedback, and on the other hand, you know you can also enhance the fee. Like you know, you can also um speed up the process.

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You can say, like we're, really happy we're super happy with with what's going on we're happy with the progress, let's control, more funds. Okay, we feel good about this, so so this is a really important mechanism to to create alignment, and that's basically like really part of the voltaire vision and how governance works between how the the technology and the process interacts with the community and improves over time all right. So what so? So what what? What happened? So we asked people to rank three questions.

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The first one was: what's the voting process fair and then um they could rank it from five to one according to how much the they agree with the sentence so um and here it like. uh Curiously, like we see that uh this ranking uh went up so for fun, zero, we had a 4.2, 4.1, ranking and in fund one. We had a 4.4.

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So somehow this process became more fair or or or or perceived as being more fair uh between these iterations and but we did ask people what what needs to be improved for you to to give us a five, and so people wrote up avoid youtube influence, rank by review ratings, uh give to to community advisor opinions.

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uh One person has suggested using quadratic voting and also the remove of proposal linking so, which is something we already removed. Actually so that's great and of course uh yeah. So um so this is just another thing to to reflect and reflect on going forward as we as we're trying to make the process more fair uh and hopefully increase the ranking for fun too.

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Then the question was: how easy was the voting system to use okay versus fairness? uh Here we see a kind of a dramatic drop, because in fan zero there was a 4.7 and fund one just 3.8.

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uh The overwhelming feedback we got was people really wanted.

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A ability to look at voting history was to you know, see what they submitted and also see what what proposals they already reviewed what's on the pipeline and which is a big challenge, because a part of defending voting from corruption is trying to make it uh not super easy for people to share how they voted and give proof to how they voted, because that opens a door for corruption and vote selling and we're trying to not promote that.

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So we're still thinking about this problem and if, if anybody has a creative suggestions, how to resolve this, this conflict- uh let us know also we they discussed about some bugs in the mobile back button that was fixed, will be fixed refund too, and they need to confirm voting twice, uh which is inevitable because you need to post it on the blockchain. So it requires this process.

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And and uh wanting to keep the like wanting to watch the entire proposal in this voting app and not having to go to id scale for the details, and there was one person who said I didn't vote as I am a proposer which is a misunderstanding, so everybody has the ability to vote. No, it doesn't matter if you're a proposer.

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If you have, if you have the ada to register you, can you can vote no matter what you or what role you have.

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Lastly, we ask them: would the proposals funded in fund one would generate impactful outcomes and- and they gave a score of 4.1 and discussed, that we need more methods to curate proposals and more incentives for to review proposals and making the challenge more specific, uh uh discussed about the problem of some of of lack of experience of some proposers and also a bias towards smaller proposals, and uh you know, the only thing I can say is that we're gonna have incentives uh for reviewers for fun too, and and definitely- and we definitely will provide more methods to curate proposals- a lot a lot with your your help um this week in the refined stage.

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So so that's like the summary of fund one. I think overall, it went really well like overall. I think this is a really great feedback. Basically nobody. You know we had 10 people and they gave us 30 data points and nobody gave even once a score of less than three for any one of those categories. So I'm pretty happy with the results.

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With the refined stage we had um a total of of 1 100 comments. That's incredible, and only this week we had 510 comments, and I wanted to highlight on the side on the right side are like our top commentators to just like honor them and they're, like amazing participation and the value they contribute to to the community.

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And so thank you all. I think we're having a very successful refined stage we're dealing with some some negativity, some toxicity, but as as you know, like the best way to deal with this, these issues is is to ignore and really focus on those who provide a useful actionable feedback.

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Well then, I see a issue with my.

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I see see it seems like some of my images were not rendering okay, okay regarding our community, um so we saw this week, 106 entrepreneurs joining 67 devs. Curiously 35, we lost 35 spos. I I assume that people just like remove this definition from themselves, because maybe they didn't want to be identified.

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That's my assumption! But if, if there's like a a flight of spo from the system that, let me know, uh 35 marketers 50 teachers, certain community managers really still really impressive growth and.

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Progress um team building, so there's two methods for us to uh this is one of the major things we can do uh as we're closing. The finalization stage of the proposals is starting to build the team and improve the feasibility of what we're doing.

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In order to do that, you can look at the tags in id scale and there's a link, and you can see all the seek tags there and another one. We see increased, very increased activity in the discord channels. I think there's, like 35 proposals, proposed specific channels for proposals.

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It's a great place to find the to find opportunities and ask for ask for help- and I did want to. I do- want to bring a few people from the community. People can like in the chat like hold their hand up like proposers, and maybe someone can share a bit about how are they doing with team building uh if there's like issues you're encountering or um ideas how to make it better?

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I just want us to give like to give us five minutes for the community to to talk about it to share a perspective about it, because it's really important topic.

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So just like either use a handwave logo or icon or say I wanna talk and we'll bring you on the video.

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Wait quite, are you testing, are you or do you want to.

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Okay, well, if nobody's waving, I'll move on, and we can get back to it later,.

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Okay, so, uh lastly blockchain for social good, so we have three days left. We already have six really great proposals: ah okay, great dc, uh so anna, if you can bring him, bring him bringing bringing up, we bring him up, and while this is happening I'll, just you know just uh you know promote this. uh Our amazing collaboration with the un.

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uh You know you see this link in three days. The registration is closed and they really want you. It's an opportunity to work with merlot it's opportunity to work on with the un and win attend ten thousand dollars prize on going and ongoing support from iohk and the un.

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uh Just click on the big link, the y hackathon and and register. Now uh before it's too late, okay, okay,.

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Thanks uh thanks for letting me hop on real quick, I.

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Just wanted to say some of the admins in the discord.

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uh Steve saw greg, they've, been doing a great job and there's some tags um and channels set up just for for team.

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You know entrepreneurs or even dev, searching for other. You know maybe.

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Similar ideas to yours or.

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Different devs that you can work with in the community for pieces of your application. You.

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Can go to like the resources.

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Section and discord- and you can look at things like you know, there's like some building a team. You know hashtag building a team. um I think there's a hashtag pitchdevs as well. Now that someone came up with so go.

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Through those, you know check out what.

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Could work for you and you know I would say that there's a lot happening in discord so try to spend some time in there, as well as telegram.

A

Awesome, thank you um yeah. I think, I think, being I think, being an implementer working along with proposers is a wonderful opportunity for you to get early validation. Phanto is a great chance uh for you to get in on a project and then, when you go to and then when you go to fund three, uh you can already say: oh, I implemented this proposal. You know I'm currently working on it. I have these results.

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You're gonna have a lot of advantage, so even if you're doing a small part or a consulting role, advisory role, marketing role, development role- you know these proposals really need your help and it's it's really great for you to build your to build your reputation. So I hope you take advantage of this opportunity.

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Okay, so a community corner okay. So this week it's like every week, you blow my mind again with amazing initiatives and and and this time was uh utah uh stepped up- youth at the importance of youth, the uh the content creator ambassador and he stepped up.

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He actually went- and I think spent I don't know if hours or days, probably more like days of work and looked scanned through all id scale and and did like a very thorough analysis uh of all the proposals uh in the in in the platform and published it in in an open spreadsheet uh that you can see here in in the link below and what I really want to invite you is, you know not just give him a kudos in a symbolic way, but like actually go to this scale, find his username find him actually give him a an id kudos, because you know this is a a serious leadership role.

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He basically like what he did was took took this community forward like at least by a month or two just just by this, just by what he did. So what did he do? Okay, so.

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Oh, oh, my don't you don't see any text on the slide. huh There's like an issue with the slide, rendering.

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That's very weird: okay, I'm gonna try one more time to stop the slides, I'm gonna close my slides and reopen them, and hopefully that will that will solve it.

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This video technology is still so flaky, oh yeah. What am I on my diagrams? Okay, great.

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Okay, I think now we can see.

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Okay, that's it.

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Okay, so what he did he he started by um basically separating the the different types of proposals by categories such like, for example, basic research explorers, and he started giving analytics about the amount of aid that they requested and what percentage of it was like the total available funding and like what percentage of it in this category, from like the the total amount in the, for example, in research. What you know you can see that uh um all the basic research proposals amount to 587 000 ada.

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So then it does a breakdown of of the different different proposals related and how much they were asking for uh same for the explorers uh same for.

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Actually, I want to return to this one later same for education and marketing that are not podcasts, uh podcasts uh tools or apps for developers and entrepreneurs, so specifically for them, and also category for basically specific use cases that are not directly related to developers or entrepreneurs. Besides, the fact that it in itself are a team of developers and entrepreneurs, but that's not their target audience and in another category. So another interesting thing he did was when he brought that the cost over on projects so like.

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So these are all projects that are asking for funding amounts that are um above or or borderline and the amount of the funds. So just fyi. If, if you ask for more than we can pay you're not going to be on the ballot because you already got, we get rejected because we can't fund proposals that exceed the amount of funding. So this is like a call.

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It's like a good wake-up call, thanks yuta, for making us aware that if you're asking for more money than the fund has a you might as well, withdraw your proposal or ask for a smaller amount and.

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But yeah, but anything but all all of this stuff is it. It really blows my mind because it's just inspiring and why is it important because this is the first time we've seen a real emergence of collective sense making and coordination uh in term you know for for for catalysts? um What does it mean? What what happens when we have collective sense making and coordination? It means that instead of looking at proposals as individual proposals proposals and like asking yourself, oh, do I support or not support.

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We can see the big picture. We can see the trends and we can decide, for example, as a as a community or or group of voters can can start to coordinate like what kind of uh shopping carts you know are. Are we are we putting for for fun too? So, like you know, you can imagine that you have shelves.

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So, like you know, if you go shopping, you know you're not going to buy like five baguettes right. You're gonna buy all sorts of different, delicious things to make all sorts of meals to accomplish your goals, and this is this is exactly what we can do here. We can start to not just as individuals but as a group of voters of stakeholders, we can decide what what's the composition of our shopping carts in order to attract developers and entrepreneurs.

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So this is like a big big step up in our in our thinking capacities as a collective, and it's also about now proposers can see, can identify what what's like what other people are asking for, and they can start to adjust their prices accordingly, seeing the the general picture not only their price, but that the content of the proposals can be modified and change, you know. So we can. We can start this, like amazing, transparent coordination process to get the best outcome.

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And lastly, you know we this is like, uh can inspire others to start to do deeper analysis on proposals like like sentiment, analysis in the comment, sections like looking at the social graphs of proposers and implementers and and identify trends like and like a million other things that uh you know I you know I just don't have the capacity to think of, but but you're gonna invent it. So this is.

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This is just the first step and in order to help you to do it, we're going to start to release an open data set of all the of all the of of all proposal data to the community.

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So you can start to build this uh this tooling, and- and I'm I'm like, expecting really big things from this community. I think it's gonna be amazing, and you know in that, uh and in that light you know, I wanted to start kind of a.

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uh I hope you guys were inspired by it, and maybe some of you want to share um you know seeing these analytics and seeing the potential.

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uh I would want to ask voters to to write to raise and wave their hands and say they want to talk and we'll bring it up and and describe a bit what's what's really important for you to know in order to make good decisions, what kind of analytics solutions would you like to see what kind of data would you like to see and what consider what what major considerations you have that can be easier to make with a good good analytics, good data, and so, let's give you a.

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Let's give you a minute to.

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All right, we haven't okay, okay, great two people.

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All I'm asking is try to limit yourself to maybe like two minutes so like I think, ideally, let's dedicate about 10 10 10 to 15 minutes to to have a discussion about it. I think it's really.

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Can you hear me okay, awesome. Thank you, everyone. um I want to point out that uh it's very likely that the idea that may be incomplete or sound completely ridiculous have the most impact and bring on the most developers and spread cardano. So just take that into consideration a lot of times. The stupidest and dumbest thing and not saying anything, is stupid or dumb actually creates the most enormous results.

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And how do I leave.

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No we're not stuck here with us forever, hey maria. I think the floor is yours.

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Okay, maybe while you take care of the.

B

Okay, no yeah, hey, sorry, guys, um hi door. uh One thing that I think would be important: uh kudos versus the rating of the revisers you. We need to make sure what we know. The value of it for me is really important, because there's a new interaction that you give to somebody else to interact with you, but the rating that gonna be in the app are very important.

B

You know the stars that you're going could get one star, two stars, five stars, it's gonna show in your proposal and when the people actually go for voting, it's a missing understanding about kudos in one platform and in styles and uh and when you go to voting. Guys is a very important moment for your community. Taking a attention in these stars.

A

I totally agree and yeah kudos are not going to appear in the voting app.

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In the decision moment, that's less of a yeah, it's.

B

I don't know if you feel the same. There is a missing understood about this stuff. I just felt it from the questions I got in the groups about people have been talking to you and they are beauty confusing because there is opinion from youtubers and opinions from us inside the program and learning all the ways things from one. So I just want to make this point clear for everybody.

B

Thank you very much.

A

Thanks maria okay, anybody else.

B

Yes, yes, hello door, hi, everyone! uh I would just like to go back to your team building, uh question or comments I would like to know: can you recommend a way to protect our concept or ideas, because we are giving our best? We are giving our best id publicly and I don't know if it's a coincidence or not, but uh olwaki from ethereum team, just post uh asking to do something about something, that's very similar to to what I was proposing.

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So uh maybe recommend us how we can some kind of protect our id so just know anybody just cannot pick it and that's it end of my question and keep on going.

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B

A

Yeah, I think well, I think this too, I I'm gonna answer kind of a video as a joke. Okay, but like I think, there's there's two methods I think one way is, and this is like a bit of a joke- is that you can put uh you can send it? Can you can have any anybody wants to watch? You know really read the real content of your proposal like sign an nda in advance.

A

You can put the form and then like a wall, and you have to sign an nda and you're gonna and then your ideas are kind of like protected, uh but I'm not sure that a lot of people are gonna sign this nda and probably not, I think another. Another strategy you can you can do is actually uh really broadcast. Your idea in the most powerful way find powerful, find find great, teammates and execute really quickly and start to validate your idea and start to build your reputation.

A

And then you know you, then you will have you know, then your idea is way more protected. If it's just an idea in your head, because you actually have a team and execution and traction and reputation in the community and this, this stuff cannot be a lot harder to compete with.

A

So I really you know so anybody who has a good idea. I suggest that really the best ways to just like go for it. You know, don't leave it as a perfect idea in your head and you know: let's let it let it bloom, let it let it materialize in the world.

A

Okay, so if we don't have other other people joining, I will I will continue my presentation and and and let's uh yeah and in the end, if we have time we'll have more time for uh discussions.

A

Okay, so now we're getting to so we're still in the refinement stage.

A

So we still have this final week of refinement and then we're going to move to finals proposal. So so it's like a quiet time. So that's time for all the proposals to really take in all the feedback. They received all the input and revise their proposal and prepare it for the review. So that's the final proposal stage and then we're going to start the review proposals where the community advisors are going to review, and here it says it's a week.

A

It might be a bit longer, we'll we'll let you know, and so the the community advisor registration begins today. So how are you what makes you eligible?

A

So you cannot be a proposer or a co-proposer in this fund too.

A

uh You cannot be like tightly affiliated to a proposal, so you can't be like an implementer in the proposal because then you're you're, biased towards one one proposal, so you're incentivized to give bad reviews. So we we ask you not to not to participate and uh you must be a mem already a member in id scale by you know. So you have 10 10 minutes. If someone wants to create an account, you have 10 minutes and to create an account to still be eligible, but you know, but people registering to add scale after that.

A

That's already, you know we we will not do not accept and, lastly, you need to be able to commit to provide a fair and thoughtful review. If you're, you know, if you have an intention like just step, you know pressing buttons and not giving a thoughtful rationale.

A

Why are you giving this the review? Then? um Then you're not adhering to the commitment to ask you. So you know we we want to. You know when we say community advisor like we phrase this like this, because it's because we want it to be like an advice, an advisor and and and in a in a way to uh to give proposals and a chance to improve their proposals over time and and learn and grow, not just to you know not just to receive a number and so prepare to provide a fair and thoughtful review.

A

So how does it work so, once a once community advisors are registered, uh we will randomly assign a to an advisor a group of proposals to assess.

A

uh We will also provide a guidelines a way to like some advice on on how to how to how to review and what's the criteria.

A

The assessment period starts on october 20th. So you will have at least at least one week, maybe even two weeks uh to to give your assessment.

A

uh We will also include a round of assessing the assessors, so um some portion of some portion of of the assessments are going to be also reviewed by other community advisors and to make sure that you know basically quality control, okay and and of course, and if you're- and if we see there's like an unfair uh unthoughtful review and it gets submitted- and you know you know we will- we will dispose of it as unfair and unthoughtful and and also it will. um You know it.

A

It would damage the the person's this this reviewer's reputation over time, so we haven't completely fought up about. Oh, you know the whole uh reputation process. It's actually like a huge undertaking to do, but I can just. I can just tell you the the principle, okay, that that principle is going to be kept. Okay, so we're going to ensure, through a community bottom up peer review that uh that assessments are at least fair and thoughtful.

A

You know you might disagree with them, but at least be fair and thoughtful, um and then, lastly, we're gonna incentivize assessment distribution. So so what does it mean? Assessment distribution we're going to for this fund.

A

Our goal is not to leave um some proposals that will receive like a hundred reviews because they're really sexy and then, like you, know, proposals that might be very impactful but don't get attention uh you know they'll be left behind, but we're actually going to incentivize kind of like a minimal amount of reviews per proposal um and we're going to so I still don't have exactly the minimal amount. Yet I mean, I said at least two reviews, maybe maybe more and but that's what we're going to incentivize.

A

I can't we're still thinking about how exactly this incentive system would work just know that the the parties will be five percent of the funds so about twelve and a half thousand dollars worth of ada. That would be distributed to community advisors, like you know, kind of to incentivize like a distribution, uh so we still need to.

A

We will come back to you in the next few weeks and to to give you like more more details, but I hope that gets you a bit hyped to to register and participate, and so how does this assessment work like generally? What are the big guidelines?

A

So the big guidelines is that we have three criteria: impact feasibility and auditability impact has a weight of 50 on the final score feasibility and auditability 25 each, and we ask we ask the assessor to look at these look at his criteria and rate how much he agrees or disagrees with his statements, and that would be the stars I want to fight. So one star is strongly disagree.

A

Five stars strongly agree and- and we're gonna ask the proposer, not you know just to sorry the the community advisor to give a rationale why why provided the score what's lacking in the score?

A

What would it take for this proposal to get five stars and, what's like the main critique so so the the proposer has something to work with, as he iterates for the next fund and and then all these all these scores are going to be crunched together and will be presented in the voting app like the the average score of all the three with the weighting with the 50 percent weight, so that will be displayed next to next to each proposal.

A

You can even sort proposals by rating, so you can see the highest rated first in the voting app.

A

So how do I actually register it's going to be very simple, you're going to log into a descale and then you're going to there will be a a form. Will pop up like magic and you can you can you know you can tick the box and agree to become a community advisor and and then you're in so you know, part of it is making the commitment to be fair and thoughtful.

A

So, lastly, you know like so I again I want to remind the proposals you have two more weeks um to finalize your proposal and, and the whole point of this phase is to help you do that and don't like, like.

A

I think that, uh like we've seen the um um the uh piccardano effect like with rather proposal- and I think I think I think we should we should we should be- we should honor them and we should uh celebrate them and celebrate they're willing to be to to kind of like change and listen and modify and realize and like um uh listen to feedback, and I think that I think that other other proposals should take notice and should learn and from this kind of leadership and really deeply listen to comments they get like, especially if they're, constructive and fair comments and and and and change your proposal.

A

So it can be, it can be like you can withdraw your proposal, it's actually great, because it means that we can. The community can focus its energy on less proposals and we can, you know, can achieve a higher impact or you can merge proposals like you can see that there's other proposers that your interests are aligned and you can work together. So you can merge it.

A

uh You can completely pivot your proposal. You can edit the title and make it a different title and change the problem that you're solving and you can add you can you know if, if you add teammates you can you can? You can mention these teammates and I think that's like an important criteria. If you already have experienced people on your team that can help you implement. I think that would be a make.

A

A big change to the feasibility of of the proposal if you're coming with a team and not just the one person, with a promise to hire other people to do the work um and you can change the amount you're asking so, for example, um you know we can have many proposals, they can just offer to do a rapid prototype.

A

You know one one loop of the lean cycle do an mvp just to support just to get evidence for the viability of their approach and probably you'll have a lot, a bigger, a much bigger chance to get funded versus.

A

If you have like a large proposal- and I mean in theory- I mean there's no limits- I mean in syria, you can have like, for example, 20 proposers like bending together and like launching, like you know, lots of experiments like lots of short experiments like the combinatorial possibilities are endless and- and I think for fun too it's you know this is going to be the most weird crazy, chaotic fund and take advantage of it.

A

Try you know, try new things, you don't have to get stuck in a um you know a grant paradigm or a vc paradigm or a government. A proposal call for proposal paradigm. You know you can you can you can be playful and explore and try different things, and uh you know worst case scenario and we would appreciate it.

A

Okay, at least I would appreciate it and I would give claps to any any kind of you know things that really push the edges and really try to adapt to this new system, because you're gonna inspire other people, even if you're, if and and you know, take take this opportunity.

A

um All right so, lastly, you know so you have one week to find proposals, so we can join a team um focus your attention as a refiner focus your attention on high quality proposals. You see as high quality, and you know if, if there's low quality proposals ignore them, it's not, you know, don't waste your energy put your energy in stuff, you believe in and try to give constructive and actionable feedback.

A

And and remember that negativity undermines our long-term goals in order for this project to really take off and really be a world-changing thing. We want to attract like the best entrepreneurs in the world, the best developers in the world and they're simply not going to join a toxic environment. It's not going to happen, so um you know try to try to realize that that that there are a lot of ways you can.

A

You can criticize you can give people constructive feedback and there's like a million ways to to do things without chasing people out without having people burn out.

A

So you know we gave you a guideline um and if that's, if you can link again the guideline, it would be great. I think we actually posted it on every comment. Every comment uh area on the proposal, because it's so important such a big strategic goal.

A

You know we I I think we have a big opportunity here and, let's not miss it out. You know with with habits of uh that, um that detract people and not attract people.

A

Right so that's.

A

That's it for me, um so we have around 15 minutes, so what we can do is either I can. I can look at questions and answer them or like, or people can also wave their hands if they want to stage to talk about some issue. That's related to one of the subjects that would raise was raised in the town hall. I also would, I think, it's a great opportunity.

A

um So while people are waving their hands I'll I'll, look at the questions. Okay, answer questions. Please.

A

Assuming that catalyst will ultimately be part of voltaire voting on goals for cardano as a whole, will the system be available to independent funding and governance projects who want to do the same sort of thing on a smaller scale?

A

Yes, okay. First of all, like yeah catalyst, will be part of voltaire. I think right now the focus is around the the governance of treasury and the voting app. We might adopt it for other types of votes and other types of decisions, but it's probably going to look a bit different. The governance parameters would be different because it's like a different use case.

A

uh I think a lot of it just like we need to experiment and see you know. If the experience is successful, it will increase in scope and about smaller scale. So yeah we already see it. uh The un project is an external project. It's not the cardinal treasury project and we're already doing that, and we already talked talked with the the spokra people about potentially uh providing them a service for for voting.

A

uh I think it's a really exciting. You know, and I'd say, like you know, let's, why think about smaller scales think about bigger scale like how can we? How can we bring this a system to actually even bigger treasuries or or more blockchain systems or or large corporations or governments? I mean, I think I think we're just getting started.

A

um Can we confirm fund fantu is six weeks in length from start to finish, uh unfortunately, not we're.

A

We are experiencing um technical delays with voting registration and we're still figuring out we're still figuring that out and um when we have you know when we have a clear idea of the timeline we will, we will share it and publish it right now, we're still like processing the inputs and and assessing it, but uh we will try to be as transparent as possible, like like my apologies, um but I will I will let everybody know once we what's what once we know?

A

um Okay, let's see can catalysts have a receiving address for the projects that want to refund the money. Please.

A

And thank you. Okay. It sounds like a solution like sounds like you're, assuming a solution for something or that the project we want to refund to refund money. I I guess: if you want to refund money, we will we will help you refund it. Don't don't worry at all.

A

I want to see. I want to see the proposing team wants to refund their money. Let's see, let's see how many there are and.

A

So submitters proposers can also be advisors reviewers.

A

uh No, if you're as if you're a proposer, you cannot be an advisor if you're. If you're a proposer in fund 2, you can be an advisor in funds3 if you're not also proposing in funds3. So and definitely everybody can be voters. Okay, so that's not that's gonna get confused.

A

Everybody can be voters, but you cannot be a proposer and reviewer if you're on the same.

A

A

All right, I think we see some waves. Let's get some people, you know my mouse is derived from talking. Let's get some people to to pitch in there their perspective.

A

I see one two three.

B

Hey um so I had a question: uh I'm I'm not understanding one thing so when people actually rate the ideas well, if they get a bad rating, will they not go on to the next stage or will all proposals go into the next stage.

A

Our proposal will go into the next stage. The rating is not a it's, not a heart filter. It's a it's, a soft, it's a soft filter. It gives it's an advice. Okay, it's not! uh It's not a directive.

B

Okay, thank you yeah. I just um I thought it was a hard filter and I think, with only two people rating it that raises some issues for, like the person, that's rating it being biased. You know and because I just people can hear one sentence um that I've said in the past and then give me a bad rating just based on the one sentence they heard of me and what they already think of me. So I think it's important to keep that account, but I appreciate your time.

B

I hope you have a good rest of your day. Thank.

B

A

Yeah we're going to start to. We are it's on our top of our mind, to figure out ways to mitigate a bias and gaming of the system, and you know, unfortunately, it's a complex topic and the best thing we can do is experiment and try. So this time we're trying we're trying to do a review of reviewers we're probably going to want to do some kind of a flagging system.

A

So if the person feels like he got a very biased or unfair review and he can report it- and you know so, we'll see we'll see how it you know.

A

A lot of these things are first time that is being done for for a crowd. You know and not like a closed internal process.

A

Okay, I see more, there are more people waving and I wish I wish they could.

B

A

A

There has not been a lot of talk about the representative part of voting.

A

I have attempt.

A

Sorry, the question jumped jumped out of my screen. ah Okay, now it gets rewards okay, great jump to the top. There has not been a lot of talk about the representative part of voting. I have a few questions.

A

Does everybody that has less than 8 000 ada have to delegate their votes to representative in order to have their vote count?

A

Let's start with that question uh well for fun too, you can't delegate yet so, uh maybe in the future and right now, yeah, you would have to have at least eight thousand data to play.

A

Does the representative get the extra aida for voting with ada that is delegated to him? Okay, um I I cannot answer precisely about the delegation system because we still need to define it better, uh but anyway yeah for fun too. Just you know you don't need to you. Don't need to lock your tokens you're wanting to lock them. You just need to um it's probably going to be a.

A

We are. We are implementing a system where you can kind of provide a proof of ownership and there'll, be like a snapshot and I'll talk about it. Much more at length in the future.

A

Can a funded proposer become an advisor in following fund rounds? Yes, as long as he's not a proposer in the same.

A

Round can we get a time frame for the fund to cohort by which the metrics will be measured, yeah we're gonna measure.

A

I think I think the I would say the general strategy is to measure early and often- and so I would say, probably like we'll ask we'll ask some measurements like maybe every two weeks there will be like a more formal reporting and and and metrics that will be shared by the funded proposers.

A

um I think it's useful also to think about a like one month, three months, six months, time frame, because that really aligns with the length of the challenge.

A

How can we improve the proposals? It seems only up only possible right by replying the reactions.

A

Let's see this okay, there's okay, so the main way to to improve puzzles is by commenting in id scale. I think another way is that some proposals have a proposal channel in in the discord channel. You can go there and just have a chat with the proposers.

A

I think another way to improve proposals is being a community advisor, so you won't improve them in this round, but you're improving from next round, but give them a thoughtful review and and that can help help people improve over time.

A

uh Another way to improve proposals is to to to step it step up and join as a join the team, and then you can increase the feasibility of the proposal and then you're in you're, like part of the team and you're revising and you're, like in the mix of help the implementation.

A

I think these are the main main main options. I.

A

A

Aside from free form, review by advisors, we will have specific rating categories, uh it's actually mostly like mostly specific rating, and then you can freeform on their on the categories like. Why did you give that rating? Okay? It would be good if the community can get some advanced planning on a sort of cheat sheet on how to pick specific scores.

A

Does the catalyst team want to be involved in that or prefer to let the community decide?

A

So we have a so. We have a guideline um for reviewers. We still need to refine it a bit, but I believe that the next week or two we'll publish it definitely before the assessment starts and give give some guidelines, and but I definitely, I think, I think, having the community involved and give us feedback about the guideline and improve it, and that would be really really useful and you know um so.

A

Please please do like, uh and and like thoughtful and and and usually like it's better to, let's say, write, thoughtful articles and spread them around the community or or put them in the catalyst the the improved catalyst challenge. Rather than like throw up a comment in a chat. That's gonna disappear in the ether.

A

Okay, I thought someone wanted to talk and I just don't want to pop up for a mini.

A

Second, okay, in this case, if uh you know thank you, everybody for another awesome town hall and uh good luck with this uh good luck in the next few weeks in the next two weeks, uh really getting your proposals off the ground and building teams, it look! It's looking really really great and impressive. So far, so keep on the good work.

A